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Fiscal Policy

1. POLICY FOR COLLECTION OF FEES


a) The committee shall collect fees only through two methods, namely:
i.
SBI Collect
ii.
Demand Draft
B) The fees shall be charged taking into account the exact number of days that the mess
shall function in a semester i.e starting from 2 days prior to the commencement of the
semester till the second day, post the end-semester.
2. POLICY FOR REFUND
a) Any claim for refund shall be entertained towards the end of the semester.
b) Claims for leave shall only be entertained if it is for 10 consecutive days or more.
However, a student cannot claim for refund of more than 30 days.
c) Claims for leave shall only be entertained if the student has intimated the
committee through e-mail about his leave one day prior to the date on which he
leaves the hostel.
d) Students of the Final Year or any other batch who intend to join the college later than
the date of commencement of the academic session shall have to intimate the
committee through e-mail about the same before the commencement of the session
failing which their claims for refund shall not be entertained.
e) Students of the 1st year who leave the college midway shall be refunded after
computation of the number of days that they have spent in the college.
3. POLICY FOR LATE PAYMENT AND DEFAULTERS
a) A student paying his fees after the notified deadline by the committee shall be subject
to a fine of Rs. 250 for the first week, 500 for the second week, 1000 for the third
week and 1000 for the subsequent weeks till the time he pays.
b) The committee shall publish the defaulters list within one month of the deadline and
the defaulters shall be debarred from any kind of exams until they clear their dues.
4. POLICY FOR TRANSACTIONS
a) The committee shall not get into any cash transactions which involves an amount over
and above Rs. 20,000. However, this rule shall not apply for refunds and payment to
the mess staff.
b) All the payments to the vendors shall be made through cheque after the bills have
been verified by the Convenor and the accountant.
c) The above rule shall not apply to the day-to-day miscellaneous expenses.
d) The transactions for which it is not possible to procure printed bills, the committee
shall maintain hand bills for the same and the same should be verified by the
Convenor and the Accountant.
5. POLICY FOR TRANSPARENCY

a) At the end of every month after all the payments have been made, the committee shall
upload a statement of accounts for the month in the batchmail and a copy of that shall
be put up in the hostel notice board.
B) At the end of every semester, the committee shall disclose the gross surplus/deficit to
the students.
6. AMENDMENTS
Amendment(s) to this policy can be done only in a joint meeting of both the committees
and with a simple majority for the proposed amendment in the same meeting.