6.4 Financial Management and Resource Mobilization

6.4.1 Institutional strategies for mobilisation of funds other than salary and fees and the optimal utilisation of resource

Response : The institution solely depends on tuition fees collected from students. Since the institution is maintained by a trust managed by a good number of philanthropists, there is no need for mobilization of funds from the external agencies.

• Additional Information



6.4.2 Funds / Grants received from government bodies, non-government bodies, and philanthropists during the last five years (not covered in Criterion III and V)
Response : 0

6.4.2.1 Total Grants received from government/non-government bodies, philanthropists during last five years (not covered in Criterion III and V) (INR in Lakhs)

Year	2022-23	2021-22	2020-21	2019-20	2018-19
Number	0	0	0	0	0

• Additional Information



6.4.3 Institution regularly conducts internal and external financial audits regularly

Response:
In accordance with the recommendations set forth by the Board of Governors (BOG), the organization formed a finance committee in 2019. This group consists exclusively of internal members from within the organization, a structure devised to leverage intimate knowledge of the organization's workings and to ensure a high level of commitment to the organization's financial wellbeing.




In a dynamic approach to foster evolving ideas and adapt to changing financial landscapes, the committee is set to be reconstituted biennially. This systematic renewal not only ensures diversity of thought but also helps maintain a level of accountability among the members.




One of the finance committee's paramount responsibilities is overseeing the financial auditing of the college. This critical function provides a systematic review of the organization's financial operations, ensuring accuracy, integrity, and compliance with regulatory standards.


To assure impartiality and technical expertise, the auditing process is entrusted to a Chartered Accountant. Although not a part of the committee, the accountant conducts the audits under the watchful eyes of the internal finance committee members. This arrangement ensures the audit's comprehensive nature while maintaining transparency and accountability, as the committee members' supervision offers an added layer of scrutiny to the process.


• Finance Committee & Internal Audit Reports


• Audited Financial Reports