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15.University Finance

Brief Report on Financial Aspects

Andhra University has a well structured financial management and Accounting System.
The Finance Committee, a Sub Committee of Executive Council, reviews the financial status
of the University. The major financial matters are placed before the Finance Committee for
Consideration and onward submission to the Executive Council for its approval. The
Finance Committee examines the Annual Accounts, Budget Estimates, reviews the financial
position of the University and makes necessary recommendations to the Executive Council
on all such financial matters from time to time.

Annual Accounts:
Draft Annual Accounts have been prepared upto the financial year 2018-19 and they are
under finalization.
Audit:

The Accountant General & State Audit Department are the statutory Auditors of the
University. The Audit of University has been taken up by the State Audit Department and
completed upto the Financial year 2015-16 & the audit of Financial years 2016-17 & 2017-18
is in progress. The A.G. Audit Department has completed the Audit upto the year 2014-15
and issued the Audit Reports. Audit Reports have been issued by the State Audit Departments
The Position of pending audit objection is as follows:
upto the Financial years 2015-16

Year No. of Objections pending Dropped during the year Balance
1981-85 to 2015-16 5,132 --- 5,132
(State Audit Paras)
2003-04 to 2014-15 114 --- 114
(AG Audit Paras)

Special focus is being paid on settlement of audit objections. Replies for many audit paras
were prepared for the years 2008-09 to 2013-14 and were furnished to the State Audit
Department for their dropping.

SCHOOL OF DISTANCE EDUCATION:
The School of Distance Education, A.U., is catering the needs of the people through non
formal education. The Budget Estimates & Revised Estimates for 2018-19 for S.D.E are as
follows:

RECEIPTS CHARGES

Budget Revised Budget Revised
Accounts for Accounts for
2017-18 Estimates Estimates 2017-18 Estimates Estimates
2018-19 2018-19 2018-19 2018-19

19,83,85,665/- 22,26,55,000 17,64,79,372 6,00,47,736 22,26,55,000 30,83,05,369

The Charges include the transfer of surplus funds of Rs. 24,32,64,443/- to the University General
Funds.

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