The college is an affiliated institution, here procedures have been laid down for raising the necessary funds and its optimum utilization. In the utilization of resources, all the guidelines issued by the Higher Education Department as well as the State Government are followed.

Major Sources of Institutional Funds

• State Government
• RUSA (Rashtriya Uchchatar Shiksha Abhiyan)
• World Bank
• UGC (University Grants Commission)
• University
• Janbhagidari Samiti

Strategies for Mobilisation and Optimal Utilization of Funds

• Proposal Invitation and Finalization
  • Proposals for equipment, books, academic activities, etc., are invited from various departments.
  • Finalized in committee meetings chaired by the Principal.
• Utilization Monitoring
  • Funds are utilized according to financial and store purchase rules of the Government of Madhya Pradesh.
  • Principal monitors the optimal utilization of funds.
  • Utilization certificates are sent to higher authorities as required.
• Transparent Purchasing Procedure
  • Major purchases are conducted through the GeM (Government e-Marketplace) portal.
  • Open bids are invited and selected in the presence of the purchase committee.
  • Orders are placed with the vendor offering the minimum cost.

Janbhagidari Samiti (JBS) Management

• Financial Committee Proposals
  • JBS Financial Committee prepares expenditure proposals.
  • Proposals are discussed and approved in JBS Committee meetings.
  • Ensures optimal utilization of funds as per set rules and regulations.
• Development Fees
  • JBS levies development fees on students.
  • Fees are used for furniture, equipment, maintenance, and academic activities.
  • Fees from self-financed programmes are used for staff salaries and maintaining academic standards.

Fund Utilization in the Last Five Years

• RUSA and World Bank
  • Funds received for infrastructure augmentation and maintenance.
  • World Bank funds used for academic activities and infrastructure development under the MPHEQIP scheme.

Government Funding

• Heads of Allocation
  • Salary, contingency, traveling allowance, medical expenses, books, and stationery for SC-ST students.
  • Career fair and short-term career-oriented training programmes.
• Disbursement
  • Salary budget disbursed to staff accounts.
  • Scholarship and accommodation funds from the Scheduled Caste Welfare Department directly disbursed to student accounts.

Student Fees

• Sources of Funds
  • Amalgamated Fund, Personal Deposit, Library, Sports, Group Insurance, and Janbhagidari fund.
• Utilization
  • Funds are utilized within the same year by respective committees as per government guidelines.
  • Group insurance funds are sent to the group insurance company.

University Fund

• Examination Fees
  • Specific amount from student examination fees is used for conducting university exams, including external practical exams and field projects.
• NSS Fund-  Utilized for organizing residential camps and regular activity for NSS units.

Audit Mechanisms

• Internal Audit- Conducted by the Internal Audit Committee constituted by the Principal.
• External Audit
  • Conducted annually by a Chartered Accountant hired by the Principal.
  • Also conducted by auditors from the Accountant General of Madhya Pradesh and the Department of Higher Education (DHE), Government of Madhya Pradesh.

Financial Record Management

• Tally Software- Used for maintaining income and expenditure records.