The Finance Division has been mandated to manage Funds efficiently and effectively in such a manner as to accomplish the objectives of the organization by planning, monitoring, organizing and controlling the monetary resources of the Association.
The Division is entrusted with the responsibility to implement various Schemes and Projects and provide requisite financial expertise and overall perspective of financial management in implementation of activities of the Association in the field of education, culture, sports and allied areas. It ensures budgetary integrity for proper implementation of schemes besides maintaining proper accounts and records.
The Association is funded by Grant-in-aid from the Ministry of Human Resource Development and Ministry of Youth Affairs and Sports and internal receipts on account of Annual Subscription, Sale of Publications, Advertisements, Subscription of weekly Journal-University News, Equivalence Fee from students etc. The internal income of the organization has registered continuous growth.
Roles & Responsibilities:
Internal Financial control systems and their adequacy:
The Association has adopted policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the AIU’s policies, the safeguarding of its assets, the prevention and detection of errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial disclosures.
Future Programme for Strengthening Financial Position:
The aim is to achieve self sufficiency in financial matters as early as possible.
The Finance Committee shall consist of the President, the Vice-President and the immediate past President and failing him a nominee of the Governing Council. The Head of the Accounts Division shall be the Secretary of the Finance Committee.
Annual Subscription of the Association for the Financial Year 2019-20 falls due on 1.4.2019. A request letter to remit the membership fee was sent to the Member Universities from our end on 19.3.2019. A rebate of Rs. 1000/- is admissible if the subscription is received by AIU before 30th April, 2019.
|Category / Type of Universities||Annual Membership Fees||Processing Fees|
|Government Universities/ Public Funded Deemed Universities/ Institutions of National Importance||₹ 50,000/- Per Annum Inclusive of Goods & Service Tax||₹ 10,000/- one time Inclusive of Goods & Service Tax|
|Private-Self-financed universities/ Private-Self financed Deemed Universities||₹ 1,50,000/- Per Annum Inclusive of Goods & Service Tax||₹ 10,000/- one time Inclusive of Goods & Service Tax|
|Associate Membership to Government/ Public funded Universities of other countries||₹ 50,000/- Per Annum Inclusive of Goods & Service Tax||₹ 10,000/- one time Inclusive of Goods & Service Tax|
|Associate Membership to Private/ Self-financed Universities of other countries||₹ 1,50,000/- Per Annum Inclusive of Goods & Service Tax||₹ 10,000/- one time Inclusive of Goods & Service Tax|
|Account Holder Name||Association of Indian Universities|
|Bank A/c No||0158101000975(Savings)|
|Beneficiary Name||Association of Indian Universities|
|Beneficiary Account Number||0158101000975(Savings)|
|Beneficiary Bank|| CANARA BANK,
Deen Dayal Upadhyay Marg,
In case subscription is transferred through option iii) above, transfer details may please be sent by a letter/e.mail (firstname.lastname@example.org/ email@example.com)
For further queries please mail at firstname.lastname@example.org