Open University unveils Tk 580m budget
Sunday, 1 July 2007
Bangladesh Open University (BOU) Friday unveiled a Tk 580.0 million (58 crore) budget for 2007-2008 fiscal year, reports bdnews24.com.
The University Grants Commission (UGC) will make available 33.28 per cent in government grant, while the university will mobilise 66.72 per cent from its own sources.
The budget came amid an end to a two-year bickering with the university watchdog UGC that froze its grants on BOU's failure to come up with back-up documents on its expenditure.
BOU Vice-Chancellor M Farid Ahmed said, bickering with the regulatory body is over. "The UGC did not make available the allocation for two years for the university's failure to submit necessary papers on expenditure".
"We are bound to provide all necessary information to the government since we receive public money. But there was a lack of understanding between the BOU and the UGC. But that's over."
A total of Tk 509.6 million has been allocated for revenue expenditure while Tk 67.3 million for development expenditure under the revenue head, said a statement of the Press Information Department. Some 65.90 per cent of the budget will be spent on academic purposes while 34.10 per cent will go to co-academic and administrative sector, it added.
BOU Treasurer AKM Rohul Amin Akanda placed the budget at the 92nd meeting of its board of governors, held Thursday with the VC in the chair. The meeting also approved the revised budget of Tk 562.0 million for the fiscal 2006-2007.
The University Grants Commission (UGC) will make available 33.28 per cent in government grant, while the university will mobilise 66.72 per cent from its own sources.
The budget came amid an end to a two-year bickering with the university watchdog UGC that froze its grants on BOU's failure to come up with back-up documents on its expenditure.
BOU Vice-Chancellor M Farid Ahmed said, bickering with the regulatory body is over. "The UGC did not make available the allocation for two years for the university's failure to submit necessary papers on expenditure".
"We are bound to provide all necessary information to the government since we receive public money. But there was a lack of understanding between the BOU and the UGC. But that's over."
A total of Tk 509.6 million has been allocated for revenue expenditure while Tk 67.3 million for development expenditure under the revenue head, said a statement of the Press Information Department. Some 65.90 per cent of the budget will be spent on academic purposes while 34.10 per cent will go to co-academic and administrative sector, it added.
BOU Treasurer AKM Rohul Amin Akanda placed the budget at the 92nd meeting of its board of governors, held Thursday with the VC in the chair. The meeting also approved the revised budget of Tk 562.0 million for the fiscal 2006-2007.