Yadapadithaya to set up advisory panel for effective financial management in varsity

Yadapadithaya to set up advisory panel for effective financial management in varsity

Mangalore Today News Network

Mangaluru, June 20, 2019: Stressing on bringing in financial discipline and reducing unnecessary expenditure in Mangalore University, Vice-Chancellor P. Subrahmanya Yadapadithaya said here on Wednesday that he will soon constitute an expert committee to suggest steps to be taken to redress budgetary issues.

 

Speaking after the university’s action taken report on the audit report of 2015-16 was tabled in the Academic Council, he said that the audit report always comprised two main aspects — objections filed and recovery recommended.

There is a need to study the reasons for the audit team filing objections and what made it to recommend recovery. With this, the university can stop repetition of similar situations or procedural lapses.

On the other hand, the university prepared the annual budget and also revised its budget estimates every year. The estimates will have to be revised within the rules and regulations and not as per the convenience of any individual.

Usually, nobody in the university bothers to study how the budget estimates are revised and how the deficit of funds are met or adjusted.

The university did not have experts from the State Accounts Department to head its finance section. Usually, senior teachers are deputed as Finance Officers.

Hence, the expert committee to be constituted will look into all these aspects and suggest steps to be taken to clear objections filed by the audit team in a time-bound manner, for the effective management of its funds and to cut down huge expenses and such other aspects.

Mr. Yadapadithaya said that the university will for the first time carry out its fuel audit from this year. All vehicles of the university will be fitted with GPS device to track their movement. A log book will be maintained on the use of its vehicles. Cost control measures will be taken up.

“I intend to bring in a systematic change in financial management for the betterment of the university,” he said and added that the complete computerisation of the finance department and training for its staff are among the plans.