or the Senior most PGT excluding statutory powers. Accounts Forms 54 The details of various account forms to be used by the schools are given in Part III of this Volume. Chapter 4 BUDGET ESTIMATES Article Specific Page No. Proposed Amended Clause No. Reference Budget, otherwise called The Annual Financial Statement, is a statement of the estimated annual revenues and expenditure of an institution and is prepared with the object of planning the activities of the institution in advance. Its preparation involves careful planning of the requirement of the Institution by taking into account a number of factors such as present and anticipated number of sections, strength of students, availability of accommodation for holding classes and storage of the equipments, facilities for sports and games and various co-curricular activities. This exercise has to be done on an annual basis keeping in view both the long term and short term requirements of the Institution. Various steps involved in this exercise are: Identification of needs. 55 Determination of priorities. Estimation of financial requirements. Allotment of funds with reference to approved budget estimates. Review of estimates for revision purposes. current year’s Allotment of funds with reference to approved revised estimates.
or the Senior most PGT excluding statutory powers. 54 Accounts Forms The details of various account forms to be used by the schools are given in Part III of this Volume. Chapter 4 BUDGET ESTIMATES Page No. Article No. Specific Reference Proposed Amended Clause 55 Budget, otherwise called The Annual Financial Statement, is a statement of the estimated annual revenues and expenditure of an institution and is prepared with the object of planning the activities of the institution in advance. Its preparation involves careful planning of the requirement of the Institution by taking into account a number of factors such as present and anticipated number of sections, strength of students, availability of accommodation for holding classes and storage of the equipments, facilities for sports and games and various co-curricular activities. This exercise has to be done on an annual basis keeping in view both the long term and short term requirements of the Institution. Various steps involved in this exercise are: Identification of needs. Determination of priorities. Estimation of financial requirements. Allotment of funds with reference to approved budget estimates. Review of current year’s estimates for revision purposes. Allotment of funds with reference to approved revised estimates.