Budget Section

STANDARD OPERATING PROCEDURE (SOP)

Budget Section, Finance & Accounts Department

1. Purpose

To establish a standardized procedure for budgeting, financial reporting, fund allocation, grant utilization, finance committee meetings, audit compliance, and related financial activities of the University.

2. Functions of the Budget Section

The Budget Section shall be responsible for:

1. Preparation of Budget Estimates (BE) and Revised Budget Estimates (RBE).
2. Preparation of Schedule of Establishment for Salary Budget.
3. Processing and coordination of Finance Committee meetings.
4. Preparation of financial information/reports required by UGC, Government Ministries, IQAC, and other agencies.
5. Replying to audit objections and audit memos relating to budget matters.
6. Allocation of Departmental Development Charges.
7. Preparation of financial portions of the University Annual Report.
8. Examination of proposals involving budget provisions and additional funds.
9. Re-appropriation of funds under Non-Salary components.
10. Preparation of Utilization Certificates (UCs) against grants of salary and recurring.
11. Disposal of RTI applications related to Budget Section records.

3. Procedure for Preparation of Budget Estimates and Revised Budget Estimates

3.1 Collection of Requirements

• Budget circular shall be issued to all Departments/Centres/Offices.
• Budget Section shall scrutinize and compile the requirements.

3.2 Preparation of Budget Estimates

• Non-salary requirements shall be examined with reference to past expenditure, current commitments, and anticipated needs.
• Draft Budget Estimates/Revised Estimates shall be prepared.

3.3 Approval Process

• Draft estimates shall be placed before the Finance Committee.
• Recommendations of the Finance Committee shall be incorporated.
• Approved estimates shall be submitted to the competent authority/statutory bodies for final approval.

4. Preparation of Schedule of Establishment

4.1 Data Collection

• Obtain sanctioned strength, filled positions, vacancies, and pay details from concerned sections.

4.2 Compilation

• Prepare establishment schedules.

5. Finance Committee Meetings

5.1 Agenda Preparation

• Collect agenda items from concerned sections.
• Prepare agenda notes and supporting documents.

5.2 Meeting Coordination

• Issue notices and agenda papers.
• Arrange meeting logistics and documentation.

5.3 Post-Meeting Action

• Prepare minutes of the meeting.
• Communicate resolutions to concerned offices.
• Monitor compliance and maintain action-taken reports.

6. Departmental Development Charges Allocation

6.1 Assessment

• Determine allocation as per approved norms and available budget.

6.2 Distribution

• Issue allocation orders to concerned departments.

6.3 Monitoring

• Maintain records of allocations and expenditure utilization.

7. Re-appropriation of Funds

7.1 Receipt of Proposal

• Receive requests for transfer of funds between approved non-salary budget heads.

7.2 Examination

• Verify availability of funds and compliance with applicable rules.

7.3 Approval

• Obtain approval from the competent authority.

7.4 Record Maintenance

• Update budget records and communicate approval to concerned departments.

8. Utilization Certificates (UCs)

8.1 Data Collection

• Obtain expenditure details against grants from relevant records.

8.2 Preparation

• Prepare Utilization Certificates in prescribed formats.

8.3 Verification and Submission

• Obtain certification from competent authorities.
• Submit UCs to the funding agency within prescribed timelines.

9. Audit Matters

9.1 Receipt of Audit Observations

• Receive audit objections/memos from auditors.

9.2 Reply Preparation

• Prepare factual replies and supporting documents.

10. Annual Report on University Finances

10.1 Compilation

• Collect financial data from annual accounts and budget records.

10.2 Drafting

• Prepare the financial section of the Annual Report.

10.3 Verification

• Verify figures with audited accounts before publication.

11. Correspondence Related to Budget Matters

11.1 Receipt and Registration

• Register all proposals and references received from departments.

11.2 Examination

• Examine budget availability and financial implications.

11.3 Communication

• Issue replies, recommendations, or clarifications as required.

12. Information to UGC/Government/IQAC

12.1 Data Collection

• Obtain required information from relevant records.

12.2 Verification

• Ensure accuracy and consistency of data.

12.3 Submission

• Submit information within prescribed timelines.

13. RTI Applications

13.1 Receipt of Application

• Receive RTI requests through the designated channel.

13.2 Record Search

• Identify and collect relevant records.

13.3 Reply

• Provide information in accordance with the provisions of the RTI Act, 2005.

13.4 Record Keeping

• Maintain a register of RTI applications and replies.

14. Records to be Maintained

1. Budget Estimates Files.
2. Revised Budget Estimates Files.
3. Schedule of Establishment Records.
4. Finance Committee Agenda and Minutes Files.
5. Audit Objection Files.
6. Re-appropriation Register.
7. Departmental Development Charges Register.
8. Utilization Certificate Files.
9. Annual Report Files.
10. RTI Register.
11. Correspondence Files.

15. Responsibility

• Section Officer: Day-to-day supervision and processing.
• Assistant Finance Officer: Scrutiny and monitoring.
• Finance Officer: Administrative and financial approval at appropriate stages.
• Finance Committee and Competent Authorities: Policy decisions and statutory approvals.

16. Review of SOP

This SOP shall be reviewed periodically or whenever changes in statutory provisions, financial rules, or University regulations necessitate revision.