Bhim Rao Ambedkar Bihar University, Muzaffarpur, has prepared a budget of Rs 795 crore for 2014-2015 to meet its necessary expenditure.
The syndicate, a high-powered body of the university, approved the budget on Monday. The finance committee of the university has studied the annual budget. The committee has endorsed it after modifications.
Vice-chancellor Ravi Verma said he has sought consent of governor-cum-chancellor D.Y. Patil to conduct a meeting of the university’s senate in February.
The budget would be tabled before the members of the senate, who would discuss it in detail. “If the senate passes the budget, the university would send it to the state government for acceptance,” the VC said.
Detailing the budget, development officer Kalyan Kumar Jha said: “The university has decided to organise a convocation this year and an expense of Rs 50 lakh regarding this would be integrated.”
The university has showed a deficit budget — a status of financial health in which expenditures exceed revenue — of only Rs 43 crore. The amount of deficit has been reduced following grants supported by the state in 2013.
The budget has made a provision of Rs 85 crore for the disbursement of salary and pension to the teachers and the pensioners.