Internal and External Audit

Kaamadhenu Arts and Science College is a self-financed institution run by Kamadhenu Educational and Charitable Trust. The institution takes the traditional footsteps to mop up the financial resources of the system

Mobilization of Funds

Every year the principal holds a meeting with heads of the departments, committee members and librarian to submit the expected expenditure for the financial year. The budget for the furniture, maintenance of buses, and purchase of equipment are prepared by administrative office. The fee payment of the students is the main source of financial mobilization and all the academic expenses are met with the same. In addition to the fee payment, the management uses its own funds to prop up the infrastructural facilities. The fee collected as tution fees, bus fees, hostel fees and mess fees are used for the intended purpose. Efforts have been taken up for mobilization of resources through grants and other aids. All the resources are pooled in a single box and thereafter assigned optimally for various projects

The principal prepares the proposed expenditure for maintenance of infrastructure, developing academic and physical facilities and other initiatives annually. The institution conducts regular internal and external audits on a continuous basis. It helps to know the current financial position of the college with which further plans are executed

Internal Audit

All the transactions of the college are audited by the internal auditor on regular basis. The team performs the task of internal audit to counter check the utilization of external resources granted to the respective departments. A detailed financial audit is also conducted in the office to check the act of commission and omission. It is a step to rectify the financial anomalies if any. A full-fledged transparency is maintained through the regular audit check

External Audit

An external financial audit is based on the structures of the government is carried out annually by Registered Charted Accountant appointed by the Trust. He vouches all receipts and payments and provides the balance sheet at the end of the financial year. Based on the report, a proper budgeting is planned for the next academic year and the funds are optimally utilised for quality enhancement