plus, as on 26th September 2016 is available with the university earned on UGC grants and the university would like to meet the deficit for these building projects through the interest accrued from Plan Grants. The Finance Committee was also informed that this interest income would further increase and the total interest income as on 31.3.17 would be sufficient to meet the deficit. Therefore, the projects under Phase- I B are fully funded. With this information, the FC RESOLVED to approve the minutes of the 32nd meeting of the BAC. The FC FURTHER RESOLVED, that the execution of Projects/Civil Works should be monitored by the Monitoring Committee of the university constituted for the purpose, on a continuing and sustained basis, so as to ensure that execution of these projects is on time and that there is no time and cost overruns. The Executive Council may like to consider to approve the recommendations of the Finance Committee on the 32nd meeting of the Building Advisory Committee. Item:EC:22:2016:35 To consider the rate of payment of HRA to Faculty and Staff of the University. NOTE: The Finance Committee in its 15th meeting held on 26th September 2016, vide Item:FC:15:2016:10 noted that the University, in order to attract the best teaching and non-teaching staff, got approved from the Executive Council in its 4th meeting, payment of HRA at the rate of 15% of the pay. Later, as per Punjab Government notification of November 2011 for revised the HRA for Bathinda to 20% from 15%, in order to keep parity, the Vice Chancellor enhanced the rate of HRA from 15% to 20% of the pay since November 2011. Further, the audit team that visited the University has pointed out the violation as there is no approval of this enhancement to 20% from the relevant statutory bodies of the University. The Finance Committee considered the payment of HRA at the current rate of 20% of the pay and RESOLVED to not approve the payment of HRA to the teaching and non-teaching staff of the University beyond 10% of pay as per GoI rules for Bathinda. The Finance Committee also RESOLVED that the excess amount paid to
plus, as on 26th September 2016 is available with the university earned on UGC grants and the university would like to meet the deficit for these building projects through the interest accrued from Plan Grants. The Finance Committee was also informed that this interest income would further increase and the total interest income as on 31.3.17 would be sufficient to meet the deficit. Therefore, the projects under Phase- I B are fully funded. With this information, the FC RESOLVED to approve the minutes of the 32nd meeting of the BAC. The FC FURTHER RESOLVED, that the execution of Projects/Civil Works should be monitored by the Monitoring Committee of the university constituted for the purpose, on a continuing and sustained basis, so as to ensure that execution of these projects is on time and that there is no time and cost overruns. The Executive Council may like to consider to approve the recommendations of the Finance Committee on the 32nd meeting of the Building Advisory Committee. Item:EC:22:2016:35 To consider the rate of payment of HRA to Faculty and Staff of the University. NOTE: The Finance Committee in its 15th meeting held on 26th September 2016, vide Item:FC:15:2016:10 noted that the University, in order to attract the best teaching and non-teaching staff, got approved from the Executive Council in its 4th meeting, payment of HRA at the rate of 15% of the pay. Later, as per Punjab Government notification of November 2011 for revised the HRA for Bathinda to 20% from 15%, in order to keep parity, the Vice Chancellor enhanced the rate of HRA from 15% to 20% of the pay since November 2011. Further, the audit team that visited the University has pointed out the violation as there is no approval of this enhancement to 20% from the relevant statutory bodies of the University. The Finance Committee considered the payment of HRA at the current rate of 20% of the pay and RESOLVED to not approve the payment of HRA to the teaching and non-teaching staff of the University beyond 10% of pay as per GoI rules for Bathinda. The Finance Committee also RESOLVED that the excess amount paid to
Final%20Agenda%2022%20EC.docx