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SRI RAMACHANDRA INSTITUTE OF HIGHER EDUCATION AND RESEARCH (Deemed to be University)

“RESOURCE MOBILISATION POLICY AND STRATEGIES FOR OPTIMAL UTILISATION OF RESOURCES”

  • 1.0. Goal:

‘To promote and nurture logarithmic, multi-dimensional ‘Resource mobilisation model’ with inbuilt strategies for effective and efficient utilisation of resources based on principles of financial jurisprudence’

  • 2.0. Objectives:
    • To diversify the avenues of ‘Resource mobilisation’ for SRIHER in all to be self sustained through the domain strengths of Education, Healthcare and Research by maximal utilisation of the potentials of teachers, health professionals, researchers, students and administrative/support staff.
  • To fully utilise the infrastructure, instructional facilities and expertise of SRIHER through strategies of effective deployment of manpower, feedback-based appraisal system, forging productive collaborations leading to international brand-building of SRIHER and co-ordinating all these sectors through a strategy management system.
  • To build ‘Academia-Industry Synergy’ in academic, R&D and healthcare sectors through international type business models implemented by a professional administration and dedicated domain-specific manpower.
  • 3.0. Road-map to achieve the Objectives:
    • Diversification of the Educational avenues of ‘Resource mobilisation’:
      • While tuition and other fees from students of SRIHER undergoing about 130 teaching and research programmes constitute the core component of the resources mobilised, it is prudent to mention that the objective and transparent methodology adopted by the Fee Fixation Committee based on Honourable Supreme Court guidelines evidences the justified fee fixation system operational at SRIHER.
      • In view of the Category-I University status accorded to SRIHER by UGC/MHRD and due to the ever-increasing international collaborations, additional intake of foreign/NRI students across all programmes facilitate additional resource.
      • Skills integrated domain knowledge programmes in recent years, like Healthcare Sector Council courses, Life sciences sector Skill Council course and Sports Sciences Sector Skill Council courses have opened up another avenue of students admission to impart skills and entrepreneurship to the youth. This is now culminating in the establishment of the National Skill development Council (NSDC) Centre of Excellence at SRIHER during the academic year 2019-20.
      • Based on the aforesaid Category-I University Status, SRIHER is approved to have a Centre for Open-Distance Education (ODL) to offer teaching and training programmes of employability nature from 2019-20 which will include ‘work-integrated learning’ and Executive PG programmes for industry-employed personnel.
      • Yet another resource generating avenue getting shaped is the twinning/joint degree programmes and ‘study-abroad programmes’ in partnership with MOU-signed foreign universities which are ranked through World University Ranking gaining within the TOP 500 ranks.
      • The emerging Faculties of SRIHER like Sports and Exercise Sciences, Clinical Research, Engineering & Technology and Integrative Medicine are the future scope for resource generation through novel teaching and research programmes and health care services.
      • Establishment of off-campus (es) and off-shore campus(es) of SRIHER and joint-establishment of foreign university campus in India and abroad with Universities having World University Ranking within Top 200 are the futuristic strategies for both resource generation as well as to achieve international visibility and pre-eminence.
      • Endowment funds encouraged in order to support/recognize meritorious candidates by gold medals and cash prizes.
      • Mobilisation of Corpus Fund to award merit cum means scholarships to students out of the interest earned.
  • Subsidized Healthcare cost and Hospital income:
  • Being a Medical College & Dental College attached hospitals with 2250 in-patients bed strength and over 5000 daily outpatient foot-falls, the clinical teaching material for UG/PG students of all Faculties is fully satisfied. This also provides a nominal/ subsidized patient-care related charges as additional resource to the Deemed to be university.
  • Resources through Research & Development activities:
  • University level guidelines for Extra-mural research projects funded by National/Governmental funding agencies like ICMR, DST, DBT,BRNS, AERB,DRDO, AICTE, AYUSH, CSIR, Ministry of Environment, Ministry of Health & Family Welfare through Dept of Health Research etc., and International agencies like NIH/WHO/Wellcome-India alliance/European Union etc., have yielded significant resources to provide essential research manpower, hi-tech equipment infrastructure besides a sizable over-head charges to SRIHER.
  • Being a Health care university intertwined with community health programmes, several Non-Governmental Organisations, Foundations/Charities across the globe are attracted to have society-oriented projects and programmes resulting in funds for the said activities besides the institutional overheads as additional resource to SRIHER.
  • Linkages with industries are facilitated by user-friendly Consultancy Rules and IPR guidelines besides guidelines for facilitating MOUs and agreements for implementing Industry sponsored R&D projects, Clinical trials, pre-clinical studies etc., in a time-bound manner. Necessary ecosystem creation by SRIHER plays a pivotal role in bringing in a significant financial resources through industries to the Deemed to be university.
  • Institutional norms developed by SRIHER for facilitating Incubatees/Start-ups to utilise the infrastructure and faculty-expertise have resulted in the establishment of ‘Sri Ramachandra Innovation Incubation Centre(SRIIC)’. This has also facilitated in housing Start-ups and Incubatees in the Central Research Facility bringing resources to SRIHER. Plans are in progress to strengthen SRIIC by securing BIONEST-Bioincubator grant of BIRAC-DBT and putting in place domain specific facilities as a ‘Boosterplan’
  • SRIHER also plans to establish the , ‘SCIENCE & TECHNOLOGY PARK’ with industry-on-campus approach which will bring in resources on one hand and ‘Work-integrated learning’ component/industry internships in all the teaching programmes of SRIHER on the other.
  • It is on the anvil to establish sector-specific manpower building, forging resource-intensive partnership models with industries, non-governmental agencies etc., through multi-modal approaches like strategy management office, business development office, Technology-transfer offices to translate the patents and other IPRs generated by SRIHER into commercial products and processes.
  • Corpus Fund creation:

The resources of the Deemed to be University are optimally used, where in, the recurring and capital cost for each year are met and the reasonable surplus is earned which shall improve the corpus fund of SRIHER in order to strengthen the financial stability in the future years.

  • Corpus Fund creation is the financial health index of an educational institution which is pivotal for institutional quality sustenance as well as for institutional development on par with international expectations and standards. SRIHER, in recent years, has been focussing on developing a reasonable Corpus Fund using the returns of the existing cash funds through their interests to support the future expansion of the Deemed to be University, including off-campus(es)/off-shore campus(es)
  • Institutional mission and effective strategies are designed to attract funding through Corporate sectors of national/international stature, Alumni contribution, International Foundations/Charities and NGOs.
  • Consistently avail income tax exemption u/s.197(1) of the I.T. Act, 1961 thereby income earned through interest on deposits, rental income etc for several crores are exempted from tax deduction and thus improve cash liquidity on hand.
  • Availed 80G tax exemption certificate in order to attract donations to the Corpus of the Trust.
  • Optimum utilisation of foreign currency earnings to avail lowest rate of interest on borrowal with the strength of natural hedging and advantage on conversion.

4.0.Optimum utilisation of Resources and Financial jurisprudence:

  • 4.1. Financial investment pattern:

    • 4.1.1. The Deemed to be university has evolved an unique investment pattern where monthly fixed deposits in banks cover the entire 12 months of the academic year. The interest earned on maturity of the deposits each month has been the significant financial resource to SRIHER. The day-to-day deposits kept in current account, maintained under the flexi-account scheme of the bank also earn interest to SRIHER and no money is left idle in the bank account.

      4.1.2. Investments in Mutual Funds have increased the returns to the institution than the normal fixed deposits.

5.0. Institutional Resource monitoring mechanism:

  • 5.1. The effective and efficient use of the financial resources is monitored by suitable institutional mechanisms. The annual budget of revenue expenditure and capital is recommended by the Finance Committee and approved by the Board of Management of SRIHER. Due analysis of the of the income and expenditure is made and presented to both Finance Committee and the Board of Management. Since the recurring expenses and capital expenditure are projected to be within the budgeted resources of the Deemed to be university, deficit budget is not encouraged.

    5.2. SRIHER has a mechanism for both internal and external audit. The institutional accounts are regularly audited by both internal and external statutory audits. So far, there has been no major findings/objections by the audit. It is also a credit that the SRIHER financial stability, management system as well as the auditing process has received consistently ‘A+ Grade in ICRA Ltd. rating .

    5.3. As a part of this policy, it is envisioned that SRIHER will evolve activity-based budgeting model along with time-line based deliverables, providing accountability-linked administrative and financial autonomy to all the constituent units of SRIHER.