Corpus interest to fund varsity programmes

Karnatak University has initiated steps to augment more funds for the smooth running of the varsity and also to take up development works.

In order to bring financial discipline and to reduce unnecessary expenditure it has streamlined the accounting system.

Disclosing this at the academic council meeting here, university finance officer H Y Kamble said the new measures besides helping generate more funds, also helped in reducing the cumbersome procedures.

Presenting the Rs 2.27 crore deficit budget for the year 2008-2009, Kamble said the varsity expected a revenue of Rs 90.47 crore while the expenditure would be Rs 92.74 crore. He said the focus would be on improvement of quality in research and teaching.

The varsity proposes to reduce the deficit by increasing the internal revenue and by attracting extra grants from the government. Explaining the measures for effective financial management the finance officer said that the corpus fund had been set up and the interest earned would be used for development works.

The deposits of the affiliated colleges would be included in the general fund that would generate more income in the form of interest. Introduction of fund-based accounts and online system for financial transactions are other such measures.

The academic council approved the proposal to start post-graduate diploma in Computer Application (PGDCA) and MBA at JSS College in Dharwad and S R Narsapur College in Bagalkot from the next academic year. It rejected Kittel College's proposal to start a PG Course in Kannada as the college failed to fulfill the pre-requisites fixed by the university for starting PG courses.