UAF Senate approves budget

The University of Agriculture Faisalabad (UAF) Senate has approved Rs 1730.01 million budget for the financial year 2010-11 with the deficit of Rs 329.911 million. The income of the university is Rs 1400.099 million whereas it spends Rs 1730.01 million. Acting Treasure UAF, Ashraf Mumtaz announced the budget at the 36th meeting of the university's senate held at new senate hall, UAF, here on Wednesday.
He said the Higher Education Commission had communicated that the university to be provided the grant of Rs 721.285 million. Giving details of the income, he said the grant from the HEC is Rs 721.285 million, which includes tenure track system (TTS) grant Rs 37.98 million. The supplementary grant is Rs 264.661 million and as many as Rs 375 million to be generated from the university's own resources and the last year closing balance of Rs 1.173 million will also be added to the budget.
Talking about expenditures, he said that pay allowance is Rs 1083.281 million, TTS is Rs 68.152 million, pension Rs 189 million and almost Rs 178.805 million is spent on electricity, gas, and water bills. The university is working on 139 research projects on which Rs 544 million is being spent share to this year is Rs 277.255 million with the income of Rs 270.532 for the said research projects. So the deficit for the projects is amounting to Rs 6.732 million.
He said that the Higher Education Commission had vowed to provide additional money amounting to Rs 264.661 million because of increase in pays and medical allowance of the employees. The grant for the Water Research Management is standing at Rs 13.165 billion whereas supplementary grant is expected 2.344 and the expenditures are Rs 17.73 million, additional expenditure Rs 190.772 million and low income houses construction Rs 20 million so the total expenditures are Rs 1730 million. The development fund to be received from the federal government is Rs 277.4 million and development fund from the Punjab is Rs 29.73 million.