Amendment status not verified — confirm the current text below against the official source.
( 1 ) The University shall prepare the annual financial estimates of receipts and expenditure of the University in such manner as the State Government may determine. ( 2 ) The Executive Council shall consider the estimates so prepared and approve them with or without modification. ( 3 ) The University shall submit such estimates as approved by the Executive Council to the State Council, by such date as may be notified to the University by the State Council, for its sanction. ( 4 ) The State Council, may pass such orders with reference to the said estimates as it thinks fit and communicate the same to the University which shall give effect to such orders. ( 5 ) The Comptroller shall be responsible for the preparation of the financial estimates and statement of accounts of the University.