YOUAREHERE கொள்கை பல்கலைக்கழகங்கள் சட்டம் 1978 ஆம் ஆண்டின் 16 ஆம் இலக்க பல்கலைக்கழகங்கள் சட்டம்

University Grants Commission - Sri Lanka

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Universities Act - Part XIII

FINANCIAL PROVISIONS


98. The financial year of a Higher Educational Institution shall be the same as the financial year of the Government. Financial year.
99. (1) Each Higher Educational Institution shall have a fund to be called the University Fund, into which shall be paid - The University Fund.
    (a) fees to be paid to the Higher Educational Institution in accordance with the provisions of any appropriate Instrument;  
    (b) income from endowments;  
    (c) moneys provided by Parliament and disbursed by the Commission as grants in aid of Higher Educational Institutions; and  
    (d) all other moneys belonging to the Higher Educational Institution from whatsoever source derived.  
  (2) Particulars of each sum of money paid into the University Fund shall within one month of such payment be submitted by the principal executive officer of the Higher Educational Institution concerned to the Commission for its information.  
100. (1) The Deputy Secretary to the Treasury shall, as soon as may be practicable after the commencement of each financial year, pay to a Higher Educational Institution such sums of money as may be provided by Parliament by way of annual appropriation, supplementary vote or otherwise as a grant or grants in aid of such Higher Educational Institution.

Grants in aid of Higher Educational Institutions.

  (2) All moneys paid to a Higher Educational Institution under the preceding subsection shall be applied or expended by such Higher Educational Institution for all or any of the purposes authorized by this Act or any appropriate Instrument.  
101. It shall be the duty of the Bursar of a University or Open University or the Treasurer of a University College or Centre for Higher Learning, as the case may be -

Duties of Bursar or Treasurer. [S 101, 7 of 1985]

  (a) to keep the accounts of such University, Open University, University College or Centre for Higher Learning; [S 101(a), 7 of 1985]
  (b) to receive all moneys paid into the University Fund and to credit such moneys to the proper heads of accounts;  
  (c) to make all authorized payments; and  
  (d) to prepare for the governing authority such triennial estimates as are required by the Commission, the annual financial appropriations of the ensuing financial year, and any supplementary estimate under section 105: [S 101(d), 7 of 1985]
    Provided however that income derived from grants made for specific purposes or from endowments for specific objects, shall be separately accounted for in the accounts of the University, Open University, University College or Centre for Higher Learning as the case may be, and that no payment shall be made from such income for the general purposes of such University, Open University, University College or Centre for Higher Learning or for any purposes or objects other than those for which such grants or endowments were respectively made.  
102. The triennial estimates and the annual appropriations of a University, Open University, University College or Centre for Higher Learning, as the case may be prepared under paragraph (d) of section 101 shall be considered by the governing authority before such date as may be prescribed by Ordinance. Such governing authority may make such alterations in such estimates and appropriations as it thinks fit and shall submit them to the Commission together with the accounts of the University, Open University, University College or Centre for Higher Learning, as the case may be, for the last completed financial year.

Governing authority to consider triennial estimates and annual appropriations.

[S 102, 7 of 1985]

103. The triennial estimates and annual appropriations of a University, Open University, University College or Centre for Higher Learning, as the case may be, and its annual accounts shall be considered by the Commission, and it shall be lawful for the Commission by resolution, to adopt or amend such estimates and appropriations as it thinks fit.

The Commission to consider triennial estimates and annual appropriations.

[S 103, 7 of 1985]

 

104. The Commission shall return the triennial estimates and annual appropriations of a University, Open University, University College or Centre for Higher Learning, as the case may be, to the governing authority of that University, Open University, University College or Centre for Higher Learning, together with any resolutions passed under the preceding section and that governing authority shall thereupon accept such estimates and appropriations as adopted or amended by the Commission:

Transfer of moneys.

[S 104, 7 of 1985]

  Provided, however, that subject to the provisions of subsection (2) of section 100, such governing authority may, with the concurrence of the Commission, transfer moneys assigned under one head of expenditure to any other head:  
  Provided further, that every such transfer shall be reported by the principal executive officer of that University, Open University, University College or Centre for Higher Learning, as the case may be, to the Commission as soon as possible thereafter.  
105. In case of necessity and in order to meet unforeseen expenditure, it shall at any time be lawful for the Bursar of a University or Open University or the Treasurer of a University College or Centre for Higher Learning as the case may be, to prepare supplementary estimates of expenditure and for the governing authority of that University, Open University, University College or Centre for Higher Learning to pass such estimates:

Supplementary estimates.

[S 105, 7 of 1985]

  Provided, however, that such supplementary estimates shall be forwarded to the Commission to be submitted to the Minister together with the annual appropriations for the ensuing year:  
  Provided further, that such supplementary estimates shall not exceed the grant voted by Parliament for the financial year and no financial liability of a recurrent nature shall be incurred without the prior approval of the Minister, given with the concurrence of the Minister in charge of the subject of Finance.  
106. (1) Each Higher Educational Institution shall prepare an annual statement of accounts and statistics relating to its activities in such form and manner and containing such particulars as the Commission may specify from time to time.

Annual statement of accounts and statistics.

  (2) The books of accounts of a Higher Educational Institution shall be kept in the office of that Institution.  
107. (1) (a) Each Higher Educational Institution shall have its accounts audited each year by the Auditor-General and, for the purpose of assisting him in the audit of such accounts, the Auditor-General may employ the services of any qualified auditor or auditors who shall act under his direction and control.

Audit of Accounts.

    (b) The accounts of a Higher Educational Institution for each financial year shall, within four months after the closure of that financial year, be submitted by its principal executive officer, to the Auditor-General for audit.  
  (2) The Auditor-General and any person assisting the Auditor-General in the audit of the accounts of a Higher Educational Institution, shall have access to all such books, records, deeds, agreements, vouchers and other documents of that Institution as the Auditor-General may consider necessary for the purpose of the audit and shall be furnished by that Institution and its officers with such information within their knowledge as may be required for such purpose.  
  (3) For the purpose of meeting the expenses incurred by him in auditing the accounts of a Higher Educational Institution, the Auditor-General shall be paid from the University Fund of that Institution, such remuneration as the Minister may determine with the concurrence of the Minister in charge of the subject of finance. Any remuneration received from a Higher Educational Institution by the Auditor-General shall, after deducting any sums paid by him to any qualified auditor or auditors employed by him for the purpose of such audit, be credited to the consolidated Fund.  
  (4) For the purpose of this section, the expression “qualified auditor” means -  
    (a) an individual who, being a member of the Institute of Chartered Accountants of Sri Lanka or of any other Institute established by law, possesses a certificate to practise as an Accountant issued by the Council of such Institute, or  
    (b) a firm of Accountants each of the resident partners of which, being a member of the Institute of Chartered Accountants of Sri Lanka, or of any other Institute established by law, possesses a certificate to practise as an Accountant issued by the Council of such Institute.  
  (5) The provisions of Article 154 of the Constitution shall apply to and in relation to the audit of the accounts of a Higher Educational Institution by the Auditor-General.  
  (6) (a) The Auditor-General shall disallow every item of the accounts which is in his opinion irregular or contrary to law and surcharge the same on the officer, teacher or employee making or authorising the making of such payment, and shall charge against any officer, teacher, or employee any sum which ought to have been, but is not brought into account by such officer, teacher or employee, and the Auditor-General shall in each such case, certify the amount due from such person.  
    (b) Before certifying any surcharge or disallowance against any officer, teacher or employee of a Higher Educational Institution under paragraph (a), the Auditor-General shall notify such person of such proposed surcharge or disallowance and inform such person of his right to make representations or be heard against such surcharge or disallowance, and fix a time and place for the hearing and inquiry into such representations not less than fourteen days from the date of despatch of such notice and, upon completion of such hearing and inquiry, the Auditor-General shall record the same and make his decision thereon giving the reasons for such decision, and inform such person and the Registrar of that University or Open University or the Secretary of the University College, as the case may be, of the same.  
    (c) Any person aggrieved by the decision of the Auditor-General may, within fourteen days from the communication to such person of such decision, appeal therefrom to the Commission:

Provided, however, that any person who, upon being informed of the proposed surcharge or disallowance by the Auditor-General, refuses or neglects to attend or take part in any inquiry or hearing before the Auditor-General, as to such surcharge or disallowance under paragraph (b) shall not be entitled to appeal to the Commission under this paragraph.

 
    (d) Upon receipt of any appeal under paragraph (c), the Commission shall consider such appeal and -  
      (i) if, in the circumstances of the case, it considers it fair and equitable that such surcharge or disallowance should be remitted, make such order; or  
      (ii) vary or confirm the amount of such surcharge or disallowance; and  
      (iii) make an order as regards the costs incurred by the Auditor-General in respect of such surcharge or disallowance and inform such person and the Registrar of the University or Open University or the Secretary of the University College, as the case may be, and the Auditor-General, of such decision.  
    (e) Where a surcharge or disallowance against any person has been certified by the Auditor-General, such certification or such certification varied as regards the amount, by the Commission under sub-paragraph (ii) of paragraph (d) shall be prima facie proof of the matters stated therein.  
    (f) Where -  
      (i) an appeal has been confirmed by the Commission under paragraph (d); or  
      (ii) no right of appeal is available to any person under the proviso to paragraph (c),  
        the principal executive officer or a person authorized by such officer in writing, shall, where no payment or an agreement to pay has been made within three months of such surcharge or three months of the date of communication of the decision of the Commission, institute in a court of competent jurisdiction, against the person against whom such surcharge or disallowance has been certified, an action for the recovery of the amount so certified to be recoverable, together with the costs thereon.  
108. (1) The Auditor-General shall examine the accounts of each Higher Educational Institution and furnish a report - Auditor-General’s report.
    (a) stating whether he has or has not obtained all the information and explanations required by him;  
    (b) stating whether the accounts referred to in the report are properly drawn up so as to exhibit a true and fair view of the financial position of that Higher Educational Institution; and  
    (c) drawing attention to any item in the accounts which in his opinion may be of interest to Parliament in any examination of the activities and accounts of that Higher Educational Institution.  
  (2) The Auditor-General shall transmit his report in respect of a Higher Educational Institution, to that Institution and to the Commission.  
  (3) The report of the Auditor-General referred to in subsection (2) shall be considered by the governing authority of that Higher Educational Institution and after such consideration, that Higher Educational Institution shall, within three months of the transmission of such report to the Higher Educational Institution and to the Commission, inform the Auditor-General of the steps taken or proposed to be taken with regard to the matters pointed out in such report.  
109. The accounts of a Higher Educational Institution for each financial year shall, when audited, be published in the Gazette. Publication of audited accounts.
110. Each Higher Educational Institution shall within three months of the receipt by it of the Auditor-General’s report in respect of each year, transmit to the Minister and to the Commission such report with any comments made thereon by its governing authority together with the statement of accounts to which the report relates, and the Minister shall cause copies thereof to be tabled in parliament before the end of the year next succeeding the year to which such accounts and report relate, and the principal executive officer of that Higher Educational Institution shall attend and answer any questions arising therefrom before the Public Accounts Committee of Parliament.

Annual accounts and Auditor-General’s report to be transmitted to Minister.

111. The provisions of subsections (3), (4) and (7) of section 13, and the provisions of section 15, of the Finance Act, No. 38 of 1971, shall, mutatis mutandis, apply to, and in relation to, the audit of the accounts of any Higher Educational Institution. Certain provisions of the Finance Act, No. 38 of 1971 to apply.
 

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