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