Finance and Accounts Section

The Finance and Accounts Department of the Saurashtra University, Rajkot is engaged in providing the services pertaining to Finance and maintenance of accounts to Teaching and Non-Teaching Departments/Sections/Units, affiliated colleges and recognized institutes.

It is located on the campus of the University.

It is headed by the Finance and Accounts Officer, who is assisted by a team of about 15 officials.

Centralized Finance Units are Pay, Bills, Book, Grants, Endowment, Provident Fund, Budget, Cash, and Examination Finance.

Decentralized Finance and Accounts Units cater to the needs of Post Graduate Departments, Estate, Student Welfare, Hostels, Board of Sports.

The Finance and Accounts Officer discharges duties as mentioned in the Saurashtra Universities Act, and co-ordinates matters pertaining to Finance and Accounts under over all supervision of Vice-Chancellor adhering to laid down rules, regulations and time frame so as to contribute in enhancing the education process.

Quality Policy

We, at the Finance and Accounts Department, are committed to rendering prompt, reliable and consistent service pertaining to Finance and Accounts for customer satisfaction while abiding by statutory and regulatory requirements.

We are also committed to enhance customer satisfaction through continual improvement of the Quality Management System (QMS).

We follow a proactive approach and train ourselves in becoming catalyst in enhancing the education process.

Quality Objectives

• Disposal of a document, received from customer for processing, within eight working days
• Conveying monthly status of University funds to the Departments of the Saurashtra University
• Containing Expenditure with in sanctioned Budget for every Customer.
• Progressive reduction in cumulative audit objections, raised during statutory audit.
• Progressive reduction in the frequency of PO’s and Bills being returned to users for compliance

Sections and Activities:

• University Accounts is computerized from 2002-03
• All subsidiary accounts like other advance, examination advance, PF advance, Endowment fund a/c, Cheque Register are computerized

CASH SECTION

• All the receipts of the university are collected by Cash section.
• Payment of petty cash expenditure and T.A. bills of staff and all the committees are paid by cash section
• T.A. bills of various committees are also audited by cash section for single window payment system.
• However, in case of rush for payment or receipt, cash section makes payments and collect receipts up to the last person
• Cash section is fully computerized with networking facility
• Cash section has a separate server and online UPS with 5 hr backup
• All the receipts are directly accepting by bank and directly deposited to bank a/c the very next day

PF SALARY SECTION

• P.F. salary section is fully computerized
• Salary section has separate software for salary
• Every first day of the month salary deposited to bank a/c of all employees of the university
• P.F. accounts of all employees are maintained by salary section
• Endowment fund and Gratuity fund a/c also maintained by salary section   

ACCOUNT BILL SECTION

• Budget Preparation.
• Fully computerized cheque payment system
• Maintains advance Registers.
• Maintains Examination Advance Register
• E-TDS Return are prepared and filed in soft copy
• Payment is made very next day after bill received.
• It is attached with LAN Network with Accounts Server.
• All the bills for payments are monitored on computer

ACCOUNT MAINTENANCE

• Maintains fully computerized Accounts
• We keep the Accounts of Income and expenditure and finalize the Annual Accounts of the University
• Various Central Government, State Government, Grant Received by the University.  We keep the Accounts and Prepares Utilization Certificates and Statement of Expenditure of various grants
• Provides support to teachers for utilization of grants
• Accounts Maintenance has a Central server
• Tally 9.2 Accounting Software is used for accounting
• All the Computer systems are connected with server vide LAN Network

RESOURCE MOBILIZATION

• 30% of Finance Course income is transferred to Self-Finance Corpus Fund
• 15% of examination Fee income is transferred to Examination Dev. Fund A/c
• Various fees collection modes are used by the university (Cash, Online & POS machines, Gate way Payment)
• As per Govt. Resolution fees like Affiliation fee increased after 1/4/97 onwards is transferred to University Development Fund A/c
• Interest on Investments is eared
• Education Development Fund from student at entry level in UG and PG course of Rs.100/- per student
• Surplus of examination income
• Surplus of Self Finance Course Income
• Donation

FINANCE COMMITTEE

Financial Proposal is excess of Rs. one lakh is put before the Finance Committee of the university and Expenditure are incurred after passing the resolution.

AUDIT

Our Accounts are audited by Accountant General of India and Local fund of State Government.

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