Resource Mobilization and Utilization Policy

RESOURCE MOBILIZATION POLICY

The fundamental principle of management of the Institution is to provide best resources to the students and faculty to run the institution for realizing its vision and mission. Accordingly, the expenses estimates and fund requirements are made and mobilization of resources is planned.

The institution is a self financed organization in which the major financial resource is the Annual tuition fee collected from the students. Funds are also raised internally by the way of fees collected from patients in OP clinic run by the institute and also the rent from girls and boys hostels. The Institution makes all efforts to secure additional funding in the form of fee collected from participants outside college to attend seminars and workshops organized by the Institution and also in the form of external sponsorships for these events.

The following procedure is adopted for utilization of resources:

1. Planning: Governing council of the college calls a meeting to estimate the annual expenses. Administrative office prepares annual estimate of the Institution and then forwards it to the Governing council for its final approval.

2. Allocation: The Governing council reviews the estimate and then allocates as per necessity of proposed expenses. If there is no contrariety, it is then sanctioned and funds are released.

3. Expenses:  Funds are utilized for the development of laboratories, procurement of books, National/International journals, E-governance, staff salary and welfare, stipends, academic activities, development and maintenance activities of the Institution. In case of funds required for academic activities like conducting seminars/ workshops/ patient camps/ conferences/ technical competitions, then the concerned faculty/committee has to prepare a note stating the details of the importance with supporting documents. The concerned person is instructed to produce a detailed report for the utilization of funds. Thereafter, the proposal is forwarded to the Principal through HOD for consideration and approval. Taking into the importance of the requirement, Principal forwards the proposal to the Governing council for its final approval.

4. Audit: The internal audit team of the college verifies the expenses carried out under various departmental activities from supporting documents and give their remarks for the final settlement of the account. Internal and external audits are carried out by the Chartered Accountant at regular intervals to ensure a proper utilization of the funds as per their allocation.