CHAPTER XII: UNIVERSITY FUNDS, ACCOUNTS AND AUDIT
124Annual Financial Statements
Brief: This section concerns financial governance relating to annual financial statements. It addresses funds, accounts, audit, budget, fees, expenditure, financial sustainability or reporting duties, and identifies the authority or process responsible for managing, approving or reviewing those matters.
(1)The annual financial estimates (budget) of the University for ensuing financial year shall be prepared by the Finance and Accounts Committee, at least four months before the commencement of the financial year in the manner as prescribed by the Statutes.
(2)The Registrar on behalf of the University shall thereafter forward copies of annual financial estimates (budget) as approved by the Senate or Syndicate to the State Government.
(3)The financial year of the University shall be the same as that of the State Government.
