All types of financial transactions of the college must be conducted through scheduled banks.
All salaries and allowances must be paid through bank transfer.
No bills shall be paid in cash. Separate bank accounts shall be maintained for the college and the hospital.
The college’s main bank account shall be maintained in a government-scheduled bank.
Accounts may be maintained in more than one bank if necessary.
The financial statement of each fiscal year must be submitted within the same year.
All bank accounts shall be subject to audit.
A separate budget plan must be prepared for each fiscal year.
All financial records must be maintained both in ledger books and in computer records.
The college shall have an internal audit team.
The internal audit team shall conduct audits under the direction of the Chairman.
External auditors may be appointed if necessary.
The Member Secretary shall present the budget, fund collection, and fund management review in meetings for approval on a monthly basis.
All income and expenditure accounts must be verified by the Governing Body and approved by the Academic Council.
It is preferable to conduct transactions through checks.
Foreign currency received from foreign students must be transacted through banking channels.
At least one committee meeting shall be held every six months.