Finance & Accounts

INTRODUCTION
Finance and Accounts Division is catering to the financial needs of the scientific, Technical and Administrative officials of the institute. The Division maintains the Accounts of the institute on behalf of the Director. The utilization of the Budget allocation received from CSIR Headquarters, New Delhi is monitored and remedial measure for effective utilization is suggested to appropriate authorities by the Division. Apart from Budget Allocation, charges for Technical services and sponsored and Grant- in - aid projects constitute the major sources of incomecash flow. The revenue received from B.Tech programme is another source of receipt to the institute.

The functions of the division are as follows:

FUNCTIONS & DUTIES:

• Preparation and compilation of Budget estimates, revised estimates and  supplementary grants.
• Management of the financial resources received in the form of CSIR Grant, Externally Funded Projects & Lab Reserve of the Institute with the due approval of the competent Authority.
• Ensuring that the economy instructions of the Govt. of India are scrupulously followed and exercising necessary budgetary control.
• Releasing payment to all suppliers/contractors/service providers for their services.
• Making payment to all staff for their personal claims and official advances.
• Maintenance of Vouchers and Accounts Registers/Ledgers.
• All matters related to Banks collecting debits, credits, Bank statement, DDs, NEFT & RTGS transfers etc.
• Financial Concurrence for pay fixations and other financial matters.
• Monitoring Loans and advances paid to staff, Private parties & other agencies.
• Finalization of pension and issue of Pension payment orders, Family pension, Retiring pension, Retiring Gratuity, Death Gratuity, Commutation etc.
• Coordinating the works related to Internal Audit and External Audit (CAG) and furnishing replies to the concerned authorities.
• Generating various Financial statements,  Monthly Account, Annual Accounts, Transfer of funds statement, Monthly progressive expenditure statement etc.
• Investing the funds from sponsored projects & L.R after obtaining necessary approval.