Account Section
Budget, payments, payroll, fee revenue and the audited accounts of the university.
Public money, accounted for.
The Account Section keeps the university's books. It prepares the annual budget with the Registrar and the directorates, releases funds against approved headings, pays salaries and suppliers, receives student fees and other revenue, clears advances, and closes the year with a financial statement that goes to audit.
The university has a single fund under section 29 of the Act, and everything it spends is met from it. The Act lists what may go into that fund: money from the Government of Nepal, the Province Government and the local levels; loans the university takes; donations and financial assistance; support and loans from international bodies, foreign governments, agencies and financial institutions, which need the Government of Nepal's approval through the Province Government; money from the University Grants Commission; and fees and any other source. The fund is held in an account at a commercial bank.
The money is public money, so the accounts are kept and audited as prevailing law requires, and the Province Accounts audits the estimate that came from the province. It is the Registrar who prepares the annual income and expenditure estimate placed before the University Assembly, and the Registrar who has the accounts audited and lays the audit report before it; this section does the work behind both.
Budget & release
The annual budget, programme-wise allocation, and release of funds against approved headings.
Payroll & payments
Salaries, allowances, provident fund and tax deductions, and payment to suppliers and contractors.
Fees & revenue
Admission and examination fees, farm and service income, and grants received by the university.
Audit & reporting
Internal audit, the annual financial statement, final audit and the clearance of audit observations.
What the section handles
- 01Preparing the annual budget and the revised estimate with the offices concerned.
- 02Releasing funds against approved headings and keeping expenditure within them.
- 03Paying monthly salaries, allowances and overtime, with statutory deductions.
- 04Checking bills and vouchers before payment, and clearing advances taken by staff and programmes.
- 05Receiving admission, examination and other fees, and depositing them in the university's account.
- 06Deducting and depositing tax, provident fund and other statutory contributions on time.
- 07Keeping the ledgers, bank reconciliation and the record of fixed assets and stores.
- 08Preparing the annual financial statement, facing internal and final audit, and clearing audit observations.