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INCAS Financial Guidelines |
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The following guidelines are intended to assist the Relationship Officers at INCAS-Chapters (IROs), the Regional Accounts Officers (RAOs) at the ROs and the Regional Heads in maintaining financial accounting for the INCAS activities and events, undertaken in pursuance of the guidelines issued by the Dean-Academic Wing vide his mail dated: 18-10-08 address to the RHs/ZHs.
These are supplementary in nature and intended to buttress the systems in place for INCAS activities and the general guidelines contained in the Accounts Manual.
As mentioned in the above communication, the IROs will be responsible for planning, executing and reporting on the events and activities of INCAS including their expenditure. As these activities are also conducted with the approval of the RHs and the relative estimates of the expenditure etc., are also routed through the RHs, the RAOs will also have the responsibility of scrutinizing and commenting / recommending on the estimates and will also be responsible for scrutiny and necessary advice to the RH.
As soon as the Chapter plans the activity for the quarter, a proposal will be prepared by the IRO and put up to the Chapter Executive Committee (CEC) for approval. The format given in Annexure herein may be used for giving the recommendations. The proposal should be accompanied by relevant quotations received for major expenses like Hall rent, Food, Transport and the manner of funding proposed, where necessary.
The same proposal form should also be used for forwarding the proposal to the INCAS-HQ through the RH for approval of the expenditure. The form should be filled in at least 3 weeks (21 days) before the commencement of the proposed date of the event so that adequate time is allowed for seeking approvals in the normal course. The same format provides for RH recommendations as well as HQ sanction to the Chapter.
The RAOs at this stage can scrutinize the proposal and bring before the RH any aberrations / requirements, considering the estimates made. The expenditure for Alumni events would generally be fully met from the INCAS funds.
On receipt of the approval from the INCAS HQ for the event / activity, the IRO may seek suitable advance at the appropriate time to conduct the activity. The RAO will scrutinize the application and recommend to the RH release of the advance subject to
- Prior budgetary approval being available from the INCAS HQ
- Quotations received and scrutinized for the proposed expenditure are found to be satisfactory.
- There is no outstanding advance with the IRO on the date of seeking fresh advance
After conducting the event / activity the IRO should submit a report on the event/activity to the next CEC. However, he should immediately forward copies of these to the INCAS-HQ through the RH along with the accounts of the expenses incurred. The RAO should ensure that the IRO has done settlement of the bills promptly and send the statement of the account to HQ-Accounts, with a copy to INCAS-HQ.
The statement of account on receipt at the Regional Office may be submitted for vetting / audit to the Internal Audit Executive at the Regional Office. The amount actually spent should be within the approved budget estimates. In case of any deviation, explanations should be furnished by Relationship Officer giving reasons for the deviation and post facto approval may be accorded by the RH for the expenditure, including the excess spent.
The following general instructions should also be complied with
- Necessary bills / receipts for all payments released for the event / activity must be obtained from the concerned payees in the standard formats. Informal receipts will not be generally accepted.
- As far as possible all payments must be released by way of cheques only, except petty amounts incurred.
- A summary statement of expenses along with copies of all vouchers / bills / receipts must be forwarded to HQ-Accounts immediately on completion of the event.
- The IRO at a Chapter must always maintain a proper file / record of all the approvals / bills, report etc, for records.
- The IROs, who are mainly responsible for implementing the events / activities would be primarily accountable for complying with all the detailed procedures in conducting them and in meeting the relative expenses .
- Where the Chapters are identified as ASIM Campuses also, the existing arrangement (whereby the RH will preside over the CEC meeting etc) will continue.
The financial ceilings and other benchmarks are as follows:
Budget for different activities of INCAS
Sl.
No |
Particulars |
Mini Event |
Alumni Event |
CEC Meeting |
SIP Awards |
1 |
Place |
INC Campus Level |
Chapter Level |
Chapter Level |
Campus Level/ RO Level |
2 |
Periodicity |
Twice a year /per campus |
Once a quarter |
Once a quarter |
Once a Year |
3 |
No. of Participants expected |
50 |
100, spouses may be brought along, additionally |
10-15 |
Award winning SIP Students & Faculty Guides (approx 20 per RO) to be honored in a function. |
4 |
Duration |
3-4 hrs |
Single day |
About an hour (approx ) |
Evening program |
5 |
Ceiling for expenditure on the function |
Rs.2500/- for Event |
Rs.10, 000/- for any one event for all Chapters. |
Rs.500/- per meeting |
Special sanction to be obtained for holding function and printing of certificates and purchase of mementoes. |
Each identified INC campus will hold 2 Mini-Events/Year |
2 Alumni events of Rs.10,000 to be held at Chapter level and 2 Mini-events @Rs.2500 at the respective campus within the chapter. |
Rs.5000/- cash Award for each awardee |
6 |
Per Head expenditure |
Rs.50 per participant (Pro rata basis) Min 50 participants. |
A maximum of Rs.100/- per participant((Pro rata basis)Min 100 participants |
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7 |
Expenditure under major Heads |
Likely expenses should be estimated and sanction sought from the HQ |
For all major events/activities the pattern of expenses is given in the enclosed table, based on the expenditure incurred in the current year at the events / activities conducted by INCAS. These can be used as benchmarks and expenditure kept within these limits. |
Simple snacks and Tea/Coffee and petty expenses, if any, total within the ceiling of Rs.500/- |
Expenses for function to be estimated by Chapters and sanction to be obtained from INCAS-HQ.
Cost of and purchase of mementoes /printing of certificates to be estimated by INCAS-HQ and sanction obtained.
Cash award amounts to be separately claimed by Chapters based on the no of awardees in the Region and cheques /DDs presented to the awardees in the function. |
Items of Expenditure |
Re-Union Meetings |
Picnic |
Sports meet |
Seminars |
SIP Awards |
Mini-Event |
Musical /Cultural
Nites |
Venue |
20% |
10% |
30% |
25% |
20% |
0% |
30% |
Decorations |
|
|
|
|
10% |
10% |
10% |
Refreshments / Food |
40% |
40% |
30% |
40% |
30% |
30% |
30% |
Prizes/Mementoes/Trophies / Gifts |
15% |
|
20% |
15% |
10% |
10% |
10% |
Travel / Transport |
|
40% |
|
|
|
|
|
Photos / Videos |
15% |
|
10% |
10% |
20% |
20% |
10% |
Miscellaneous |
10% |
10% |
10% |
10% |
10% |
10% |
10% |
Total |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
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