48. Annual estimates of income and expenditure of Colleges and University.
(1)Every college shall prepare in the prescribed form an estimate of its probable income including income from endowments and bequests, if any, and expenditure for the next ensuing financial year and shall submit it to the Syndicate on or before such date as may be prescribed by the Statutes.(2)On receipt of the estimate under sub-section(1) the Syndicate shall refer it to the Finance Committee for examination and report.(3)The Finance Committee shall prepare the annual estimate of income and expenditure of the University for the next ensuing financial year and shall on or before such date as may be prescribed, forward the same together with memorandum containing explanatory notes thereon to the Syndicate which may approve the estimates either without alteration or with such alterations as it thinks fit and the estimates so approved by the Syndicate shall be laid before the Senate at its annual meeting.(4)Every estimate prepared under sub-section (3) shall in accordance with the direction given by the State Government make provisions for the due fulfilment of all the liabilities of the University including that of colleges and University Department and for the efficient administration of the Act and the Statutes, the Ordinances, the Regulations and the Rules made thereunder.(5)Every estimate under this Section shall be prepared in such form and shall contain such details as may be prescribed by the Statutes.
