SALIENT FEATURES OF UNIVERSITY MANAGEMENT SYSTEMS
The University has its own Accounts Manual, which contains financial rules, instructions and procedures to run the various activities of the University, whose basic structure is as it is obtained in the system of accounts developed for the agricultural universities in the country. The University also follows special rules of different funding agencies, if any. The general principals and rules of financial management in the university are on the lines of the State Government, so far as financial propriety and control is concerned. However, the financial management systems followed in the university differs significantly in several manners, e.g.
Audit of Accounts
In the University, there is pre-audit system which is done by the Examiner, Local Audit Department of the Govt. through a resident audit scheme. The post audit is done by the Accountant General, Himachal Pradesh. Besides this various funding agencies also enforce their own financial and audit rules and instructions which are followed by the university.
Unlike the Govt., the university does not have the procedure of routing its accounts through treasuries, except that grant-in-aid released by the Government is credited through the Treasury.
The GPF/CPF Accounts
The GPF/CPF Accounts of the employees are maintained by the university itself and not by the Accountant General.
The University has its pension corpus fund which is maintained by the university itself and the pensions to the pensioners and family pensions are made by the university.
Decentralized system of accounts with central control
The university has a network of teaching, research and extension education activities scattered all over the State. It has four colleges, with 43 departments, 16 research centres/substations. The university has 70 Drawing and Disbursing Officers located at campus and different outstations. The University follows decentralized system under which various functionaries have been delegated adequate financial and administrative powers. These functionaries are responsible for incurring expenditure and maintain the initial/subsidiary accounts. At the same time, the University has centralized system of control, so far as management of grants and funds, allocation of budget, issuance of payments/cheques, compilation of monthly and annual accounts, issuance of all grant utilization certificates, pre or post audit, etc. is concerned.
Sources of finances
The University is mainly dependent on the State Govt. for finances which are provided in the shape of grant-in-aid. The Govt. of India also provides grants and financial assistance through Indian Council of Agricultural Research quantum of which varies from year to year depending upon their assessment about the requirements of the university for buildings, renovations, developmental activities, studentsí amenities and sanctioning of long term all India Coordinated Projects and short term competitive adhoc research projects.