NAAC

CRITERION 1

EXTENDED PROFILE

BEST PRACTICES

HR POLICY MANUAL

AWARDS AND RECOGNITION

ENVIRONMENTAL ACTIVITIES

STAKE HOLDERS FEEDBACK

INSTITUTIONAL DISTINCTIVENESS

DISABLED FRIENDLY CAMPUS

CAPACITY BUILDING AND SKILL ENHANCEMENT

INTERNAL AND EXTERNAL AUDIT

INTERNAL AND EXTERNAL AUDIT


Mobilisation of Funds

The main financial resource for the Institute is by way of tuition fee. The tuition fee is fixed based on the previous year’s expenditure and the impact of the inflation in the next three years. The institution furnishes all the relevant details of the expenditure and projections for every three years to the Internal Fee Regulatory Committee which fixes the tuition fee of the Institute as per the guidelines stated by the university. While submitting the projections, the Institute also incorporates increase in salaries by way of DA, increments, etc. The internal Fee Regulatory Committee also provides scope for the Institute to allocate funds for the capital expenditure, which the Institute is planning over the next three years. Hence, the major resource mobilization depends on the fee fixation done by the internal Fee Regulatory Committee.

The Sponsoring trust, SMT. MAHALAKSHMI AMMAL EDUCATIONAL TRUST, extends financial support to the Institute for the shortfall and ensures the availability of requisite funds.


Optimal utilisation of resources

An annual budget is prepared to ensure optimal utilisation of financial resources, based on the estimates received from the departments and functional units of the Institute. The amount is sanctioned by the Managing Committee/ Board of Governors. Monthly statements are prepared for income and expenditure. Audit is performed periodically to ensure that the budget is optimally utilized for the purpose it is intended. The resources in the form of facilities and equipment are maintained to ensure optimum performance. Annual maintenance contract is in position for the equipment and software.