State Act

The Bongaigaon University Act, 2023

48. (1) The annual accounts and balance sheet of the University shall be prepared under the direction of the Executive Council and shall be submitted to the Comptroller and Auditor General for the purpose of Audit. (2) The account when audited by Comptroller and Auditor General shall be submitted through the Executive Council, to the University Court, the Chancellor and to the State Government and thereupon, the State Government shall publish the same in the Official Gazette. The Executive Council shall also submit to the Court on or before such date as may be prescribed by the Statutes, a statement of the financial estimates for the ensuing year. (3) The annual accounts and the final estimates shall be considered by the Court at its annual meeting and the court may pass resolutions whereon and communicate the same to the Executive council. (4) Such Annual Statement of Accounts shall, together with copies of the audit report, be tabled before Assam Legislative Assembly. (5) The Finance Committee of the University shall conduct half-yearly internal audit and the report of such audit shall be submitted to the State Government regularly. (6) Notwithstanding anything contained hereunder, the State Government shall have powers, as deemed necessary, to order an audit of the accounts of the University. (7) The annual budget estimates shall, after the Executive Council finalises these, be circulated to the Chancellor, State Government and all members of the Court at least fifteen days before they are submitted to the State Government. (8) The University shall obtain prior approval from the Finance (Budget) Department of the State Government for opening any account in a Nationalized Bank or any other Bank. The operation of such Account by the University shall be, as per approvals accorded from time to time, by the said Department.