Sree Vivekananda Teacher Education Centre has a financial management policy that made effort to be transparent our management system. it maintains a complete transparency between the functioning of the principal with the management. our systems include all the critical information pertaining to finance, university transactions, results, faculty performance etc. Are available to everyone. we also share all important information with our faculty members at regular intervals. whenever needed support is also provided in the form of resources, facilities and funds if necessary.
Financial Management:
- To track financial status and make informed decisions trust members should disclose their finance on a monthly basis.
- Internal audit facilitates efficient financial management.
Mobilization of Funds:
- Funds shall be mobilized through diverse channels, including fees, grants, and strategic partnerships.
- The opinion of trust members should guide the mobilization of funds.
Audit
- Regular internal audit among trust members and external audits should be conducted to ensure compliance with financial policies, regulations, and ethical standards.
- The audit procedures must be open and honest, with results shared among members and timely implementation of corrective measures.
Utilization of Funds
- Funds shall be utilized based on expenditure of each year. Priorities should be given to academics and organizational goals.
- There should be income expenditure statement records for financial transparency.
Transparency and communication:
- Transparent communication about financial matters shall be maintained with stakeholders
- Financial reports shall be accessible and understandable to all relevant parties, fostering trust and accountability.
- Institution maintains complete transparency in its financial, academic, administrative functions as proper procedures of university.
- The entire academic plan is clearly explained to all students in a compulsory orientation program on admission addressed by principal and senior faculty.
- The elaborate system of various committees and cells also ensures transparency.
The credits of plan are clearly specified. The internal assessment comprising various components ensures that students receive their evaluated answer sheets and monitor their progress, performance and fairness in the evaluation.
- There is provision for re-examination, remedial examinations, and grievance redressal.etc
Conclusion
The purpose of this policy is to provide a strong financial framework that grantees the responsible mobilization, use and administration of finance.