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NATIONAL INSTITUTE OF TECHNOLOGY KARNATAKA SURATHKALSRINIVASNAGAR, MANGALORE - 575 025 INDIA
AUDIT REPORT 2015-16
Website : www.nitk.ac.in Tel : 0824-2474000 (7 lines) E-mail : [email protected] Fax : 0824-2474033
SEPARATE AUDIT REPORT ON THE ACCOUNTS OF THE NATIONAL INSTITUTE OF TECHNOLOGY, KARNATAKA
SURATHKAL, MANGALORE FOR THE YEAR 2016
SEPARATE AUDIT REPORT ON THE ACCOUNTS OF THE NATIONAL INSTITUTE OF TECHNOLOGY, KARNATAKA SURATHKAL, MANGALORE FOR THE YEAR 2016
1. We have audited the attached Balance Sheet of National Institute of Technology, Surathkal, Mangalore,
as at 31 March 2016 and the Income and Expenditure Account / Receipts & Payment for the year
ended on that date under Section 19(2) of the Comptroller and Auditor General's (Duties, Powers and
Conditions of Service) Act, 1971. These financial statements are the responsibility of the Institute's
management. Our responsibility is to express an opinion on these financial statement based on our
audit.
2. This Separate Audit Report contains the comments of the Comptroller and Auditor General of India
(CAG) on the accounting treatment only with regard to classification conformity with these best
accounting practices, accounting standards and disclosure norms, etc. Audit observations on financial
transactions with regard to compliance with the Law, Rules and Regulations (Propriety and Regularity)
and efficiency -cum-performance aspects etc. if any, are reported through Inspection Reports / CAG's
Audit Reports separately.
3. We have conducted our audit in accordance with auditing standards generally accepted in India. These
standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free from material mis-statements. An audit includes examining on a test
basis, evidences supporting the amounts and disclosure in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as
well as evaluating the overall presentation of financial statements. We believe that our audit provides
a reasonable basis for our opinion
4. Based on our audit, we report that:
i. We have obtained all the information and explanations, which to the best of our knowledge and belief,
were necessary for the purpose of our audit.
ii. The Balance Sheet and Income & Expenditure Account / Receipt & Payment Account dealt with
by this report have been drawn up in the format prescribed by the Government of India, Ministry of
Human Resource Development.
iii. In our opinion, proper books of accounts and other relevant records have been maintained by the
Institute in so far as it appears from our examination of such books.
iv. We further report that
A) REVISION OF ACCOUNTS:
The Institute revised the accounts on the basis of audit observation and re-submitted, the “Revised
Accounts” on 19/08/2016. The effect of revision was that Assets and Liabilities in the Balance Sheet
increased by Rs.2.16 crore and deficit increased by Rs.0.63 lakh.
B) GENERAL:
The University accounting Retirement Benefits viz Gratuity and Leave Encashment on cash basis and
not on actuarial basis which is in contravention of AS 15.
C) GRANTS-IN-AID:
Out of the total Grants of Rs.99.00 crore received during the year 2015-16, the Institute utilized a sum
of Rs.126.18 crore leaving a minus balance of Rs.(-)37.73* crore as on 31st March, 2016.
* includes opening balance of Rs.(-)10.54 crore.
v. We report that the Balance Sheet and Income & Expenditure Account / Receipt & Payment Account
dealt with by this report are in agreement with the books of accounts.
vi. In our opinion and to the best of our information and according to the explanations given to us, the
said financial statements read with the Accounting Policies and Notes on Accounts, and subject to the
matters stated above and other matters mentioned in Annexure to this Audit Report give a true and fair
view in conformity with accounting principles generally accepted in India.
a. In so far as it relates to the Balance Sheet, of the state of affairs of the National Institute of Technology,
Karnataka, Surathkal as at 31 March 2016; and
b. In so far as it relates to Income & Expenditure Account of the deficit for the year ended on that date.
Place : BangaloreDate : 25.10.2016
ANNEXURE
1. Adequacy of Internal Audit
Internal Audit System is inadequate as the Internal Audit Wing is under-staffed. The Institure had
conducted Internal Audit upto 2015-16.
2. Adequacy of Internal Control
The Internal Control System of the Insitute is adequate to have an effective control over the functioning
of the Institute.
3. SystemofPhysicalverificationofFixedAssets/Inventory
Physical verification of Fixed Assets / Inventory for the year 2015-16 had been carried out by the
institute.
4. Regularity in payment of statutory dues.
All statutory dues of the Institute had been remitted within the stipulated date.
CONTENTS
NATIONAL INSTITUTE OF TECHNOLOGY KARNATAKA SURATHKAL
P.O. SRINIVASNAGAR, MANGALORE - 575 025 INDIA
Sl.No. Particulars Page No.
1 Director’s Report 01 - 03
2 Balance Sheet 04
3 Income and Expenditure Account 05
4 Schedules forming part of Balance Sheet “Sch –1 to 8” 06 - 24
5 Schedules forming part of Income and Expenditure
Account “Sch - 9” to “Sch – 17” 25 - 30
6 Statement of Receipts and Payments 31
7 Schedule 23 - TEQIP Phase I Statement of Accounts. 32
8 Schedule 24 - TEQIP Phase II Statement of Accounts. 33 - 36
9 NITK Employees GPF. 37 - 39
10 SignificantAccountingPoliciesandNotesonAccounts 40-44
1
DIRECTOR’S REPORTIntroduction
National Institute of Technology Karnataka, Surathkal formerly, Karnataka Regional Engineering College Surathkal is one of the 17 REC’s established in the country by the Government, started in the year 1960. It wasthesecondamongfirstbatchof8RECs’setupintheCountry.TheInstitutewasupgradedasNITandconferred Deemed University status w.e.f. 26.06.2002 as per GOI order No.F9 6/95 U3 dt 26.06.2002 and nowholdsastatutorystatusas“InstituteofNationalImportance”byanActofParliament-NITActnotifiedon 15th August 2007.
The Institute is located at Srinivasnagar, Surathkal, of Mangalore city in Dakshina Kannada District, Karnataka State, on the West Coast National Highway (N.H.66), having campus area of 295 acres.
DuringtheyearNITKhasachievedsignificantgrowth invariousspheresof itsactivities.Ourefforts inteaching, infrastructure building, Research and development, Testing and Consultancy, developing entrepreneurship, and student training and placement have been responsible for NITK being placed amongst the top technological institutions in the country. We wish to acknowledge the strong support we receive in all our activities from our distinguished alumni who occupy coveted positions in the Industry.
It isnowmypleasantdutytoplacebeforeyou,abriefreporthighlightingoursignificantachievementsduring the year 2015-16. I wish to place before you, some of the new initiatives taken at NITK so as to scale greater heights in teaching, research and out-reach activities and get recognized as ‘A National Institute with an International Recognition’.
Governance:
NITK, an Institute of National Importance, is governed by the Board of Governors, under the NIT Act 2007 and Statutes laid down by the Govt. of India. The present Board is chaired by Mrs. Vanitha Narayanan and consists of representatives from Govt. of India, Govt. of Karnataka, Industry, Educationists and the Institute Senate. The Director is the executive Head of the institute. The day-to-day activities are carried out by the Director, with the support of Deans, Registrar, Heads of the Departments, Professor in-charge of Hostels, and Deputy Registrars. Several committees have also been formed to facilitate decision-making process, effectively.
Faculty and Staff
Availability of high quality human resources has been the major factor contributing to the success achieved in different spheres of activities at NITK, all these years. The institute is making concentrated efforts to fillupallthevacantpositions,bothinfacultycadreaswellasnon-teachingstaff.Thefacultymembersare encouraged to pursue higher education leading to doctoral degrees, both within the institute and on deputation to higher schools of learning like I.I.T.s and I.I.Sc, Bangalore.
Financial Support:
In view of the enhanced plan and non-plan grants, increase in R&D funding, an increase in student intake, enhanced consultancy and testing output and initiation of a few new infrastructural projects. The total
2
internal revenue generation through fee collection and other receipts was Rs. 42.65 crores. Our Corpus fund has been grown steadily to about Rs.135.49 Crores.
NITKisthebeneficiaryoffinancialsupportextendedtoCentrallyFundedInstitutionsunderPhase-IIofthe World Bank Assisted TEQIP Program. Under the scheme, NITK has received a total grant of Rs. 15 Crores till now. The main focus of this phase of the project is on improvement in post-graduate education and enhancement of our research activities and output.
Academic Activities:
Presently, NITK offers B.Tech programs in 9 disciplines and M.Tech programs in 25 specializations. In addition, MSc Programs are offered in both Physics and Chemistry Departments and the MBA and MCA programs are offered by Humanities, Social Sciences and Management and MACS Departments respectively. While M.Tech (Research) Programs have been started in all PG specializations, doctoral research is also being undertaken with scholars registered in all the Departments.
For the academic year 2015-16, about 836 students were admitted to the B.Tech. Program based on their scores in JEE-Mains /SAT Examinations. A total of 149 students joined the doctoral programs during 2015-16, including the increased focus on research at the Institute. There are about 514 Research Scholars in the Institute and during the reference year 60 students have been awarded PhDs.
Students’ performance in examinations continues to be excellent with an overall pass percentage of more than 97.16 percent. Large number of our students has graduated with distinction. This year too, our students have excelled in GATE-2014 and CAT-2013 examinations which have fetched them admissions to top technological and business schools of India to pursue their post-graduate programs or MBA studies. A higher percentage of students, compared to last year, have been successful in obtaining admissions to the best universities in USA and Europe.
R & D Activities:
The Institute is steadily transforming itself into a Teaching-cum-Research Institute, with more and more R&D initiatives being pursued by the faculty. While the administration is trying to improve the research ambience in the Institute, the members of the faculty are responding to such initiatives by getting a large number of innovative R&D Projects sanctioned by various funding agencies like DST, CSIR, DRDO, CPRI, ICSSR, UGC, AICTE & Coal India Ltd. Also, global R&D activities are being carried out with higher learning Universities/Institutes across various countries and potential MoUs have been signed with them.
Infrastructural Facilities:
Following civil works Est. Cost (Rs. in Crores) were taken up by the CPWD.(1) Addl. Building for Library 15.17 (2) Faculty Apartment (48 dwelling units) 38.81(3) New Building for computer science 33.05(4) New Boys Hostel (500 single occupancy rooms) 51.14(5) New Ladies Hostel (250 single occupancy rooms) 22.66
3
(6) New Non Faculty Apartments 21.36 (7) Sports Complex 34.07(8) Horizontal Extn of P.G. Chemical) 16.50(9) Vertical Extn of Appd Mech Engg. 10.41 (10) Vertical Extn of Basic Sc. Bldg 13.26 (11) Vertical Extn of New Mechanical Engg. Block 23.58(12) New Lecture Hall Complex-C (W.T.B.), 23.55 and Rs. 5.88 crores has been spent for Equipment & Furniture
Industry -Institute Collaborations
NITK understands that the objective of effective training of our students can only be met when we have meaningful and continuous interaction with industry. Efforts are on for establishment of industry-sponsored professorial chairs, creating opportunities for training of faculty, staff and students in the collaborating industry and providing for content/skill up- gradation to industrial personnel. Active MoUs with reputed global industries and National Research agencies like AB Volvo Group Sweden, Mercedes-Benz Research and Development India Private Limited (MBRDI), Bangalore, Robert Bosch Engineering and Business Solutions Limited (RBEI), Bangalore, and Research Institutions like Bhabha Atomic Research Centre (BARC) Mumbai, Central Manufacturing Technology Institute (CMTI), Bangalore, Oil and Natural Gas Corporation. Limited (ONGC), Dehra Dun, Central Power Research Institute (CPRI) Bangalore, CSIR-National Institute of Oceanography, Goa to name a few, stand testimony to such efforts. One Professorial Chair has been established with sponsorship from Ministry of Steel (GOI). Postgraduate courses are being offered in collaboration with L & T Construction, Chennai CMTI, Bangalore and Robert Bosch, Bangalore. AlsothereareoutreachcollaborativeactivitiescarriedoutinthefieldofTestingandConsultancy.
Training and Placement:
The Department of Training and Placement of the Institute facilitates on-campus recruitment and placement of our students and also arranges for their training/internship in Industry. NITK is ranked amongst the top-performing institutions in the country for campus placements. During 2015-16 the placement was 91%.
Acknowledgement and Conclusions:
At this juncture, I personally acknowledge the support and encouragement received by us from the Chairman and members of the Board of Governors. The members of the senate, all my colleagues – both faculty and non-teaching members have been very supportive of all the new initiatives being contemplated and implemented. I record my appreciation for the students of the outgoing batch for their disciplined behaviour and keen participation in the activities of the Institute. Again, on behalf of all the members of Team-NITK, I wish to place on record, our gratitude to the MHRD-GOI, Govt. of Karnataka and other agencies for their constant support and encouragement.
Date : 25-07-2016 Place : Surathkal Sd/- (PROF. K.N. LOKESH) DIRECTOR
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CH
NO
LOG
Y K
AR
NAT
AK
AS
UR
ATH
KA
LP.
O. S
RIN
IVA
SN
AG
AR
- 57
5 02
5
SCH
EDU
LE 2
- D
ESIG
NAT
ED/ E
AR
MA
RK
ED/ E
ND
OW
MEN
T FU
ND
S A
S O
N 3
1-03
-201
6
IN
STIT
UTE
ENDO
WM
ENT
STUD
ENT
NITK
CC
E
CCB
CCM
T GR
AND
GRAN
D
PAR
TICU
LARS
DE
VELO
PMEN
T CH
AIR
ACTI
VITY
CO
RPUS
FU
ND
DASA
20
11
2016
TO
TAL
TOTA
L
FUND
FU
ND
COUN
CIL
FUND
20
15-1
6 20
14-1
5
A
(a
) Op
ening
Bala
nce
of th
e Fu
nd
39,
83,6
9,89
5 63
,60,
497
3,5
1,97
,072
.00
81,
00,7
2,15
6
23,6
1,14
5
18,6
1,91
,930
-
-
1
,43,
85,5
2,69
5 1,
16,5
1,65
,901
(b
) Ad
dition
s dur
ing th
e ye
ar
-
(I
) Don
ation
s/ Gr
ants/
Fee
/ Loa
ns &
Adv
ance
s -
-
1,
57,9
8,36
0.00
26,
87,0
5,77
8 5,
19,5
34
-
-
30,
10,0
00
28,8
0,33
,672
37
,71,
47,2
12
(c
) In
com
e fro
m In
vestm
ents
-
-
26,
33,1
38.0
0 6,
86,8
6,89
6 1,
87,8
78
2,00
,73,
969
-
-
9
,15,
81,8
81
7,1
7,98
,783
(d
) Ac
crue
d In
tere
st on
Inve
stmen
ts -
-
-
-
-
-
-
-
-
-
(e
) In
tere
st on
Sav
ings B
ank A
/c.
- -
1
,59,
207.
00
3,6
7,98
4
3,6
27
1,6
7,89
2
-
-
6,9
8,71
0
14,
73,6
45
( f
) Ot
her A
dditio
ns
(a
) Co
nsult
ancy
Fun
d 72
,08,
835
-
-
-
-
-
-
-
7
2,08
,835
9
7,78
,500
(b
) Te
sting
& C
onsu
ltanc
y 1
,73,
70,0
26
-
-
-
-
-
-
-
1,7
3,70
,026
2
,05,
29,2
72
(c
) In
stitu
te D
evelo
pmen
t Fun
d 70
,75,
327
-
-
-
-
-
-
-
7
0,75
,327
2
,16,
20,6
21
(d
) St
aff D
evelo
pmen
t Fun
d 3,
59,6
5,26
4
-
-
-
-
-
-
-
3,5
9,65
,264
3
,45,
76,0
88
(e
) Pr
ofes
siona
l Dev
elopm
ent F
und
7,30
,993
-
-
-
-
-
-
-
7
,30,
993
7
,56,
295
(f)
Hos
tel D
evelo
pmen
t Fun
d -
-
-
-
-
-
-
-
-
-
(g
) Ca
mpu
s Dev
elopm
ent F
und
31,
90,0
00
-
-
-
-
-
-
-
31,
90,0
00
33,
10,5
00
(h)Ed
ucation
alVe
rificational
-
-
-
-
-
-
-
-
-
-
(i)
Eq
uipm
ent M
ainte
nanc
e Fu
nd
7,02
,569
-
-
-
-
-
-
-
7
,02,
569
6
,49,
875
(j)
St
uden
t Acti
vity C
ounc
il -
-
-
-
-
-
-
-
-
1
,74,
28,8
90
(k
) M
iscell
aneo
us In
com
e -
-
8
3,07
0.00
6
,275
3
3,05
8
-
-
-
1,2
2,40
3
31,
856
(g
) Tr
ansfe
r/TDS
-
-
-
20
,66,
04,0
50
-
30,
23,4
11
-
-
20,
96,2
7,46
1
8,6
2,60
,696
TO
TAL
A
47,0
6,12
,909
6
3,60
,497
5,3
8,70
,847
.00
1,3
5,44
,43,
139
31,
05,2
42
20,9
4,57
,202
-
3
0,10
,000
2,
10,0
8,59
,836
1,8
1,05
,28,
134
7
B
Utilis
ation
/ Exp
endit
ure
towa
rds O
bjecti
ves o
f Fun
ds :
2,01
,49,
429
90,
480
2,0
2,39
,909
(I)
Capit
al Ex
pend
iture
Fi
xed A
sset
s -
-
-
-
-
1
,56,
000
-
1
4,16
0
1,7
0,16
0
2,0
6,38
0
(II)
Reve
nue
Expe
nditu
re
Sa
laries
, Wag
es &
Allo
wanc
es E
tc -
-
-
-
2
,38,
962
4
,32,
275
-
-
6
,71,
237
4
0,26
,898
Ot
her A
dmini
strat
ive/ A
ctivit
y Exp
ense
s -
-
1,
05,2
8,73
2.00
-
4
,74,
296
2
2,64
,877
-
2
,31,
348
1
,34,
99,2
53
3,2
1,73
,146
Te
sting
& C
onsu
ltanc
y -
-
-
-
-
-
-
-
-
1
,89,
69,1
77
Sp
orts
& Ga
mes
/Swi
mm
ing P
ool
-
-
54,
81,0
36.0
0
-
-
-
-
-
54,
81,0
36
55,
15,9
51
Sc
olars
hip
-
-
-
-
-
-
-
-
-
-
(III)
Tran
sfer/
Refu
nd-A
dmiss
ion F
ee/T
DS
-
-
-
-
-
20,
66,0
4,05
0
-
-
20,
66,0
4,05
0
31,
10,8
3,88
8
TO
TAL B
2,
01,49
,429
90,48
0 1,6
0,09,7
68.00
-
7,
13,25
8 20
,94,57
,202
-
2,45
,508
24,66
,65,64
5 37
,19,75
,439
Cl
osin
g Ba
lance
at th
e yea
r end
(A-B
) 45
,04,63
,480
62,70
,017
3,78
,61,07
9.00
1,35,4
4,43,1
39
23,91
,984
(0)
-
27,64
,492
1,85
,41,94
,190
1,43
,85,52
,695
Re
pres
ente
d by
Cash
& B
ank B
alanc
e -
-
5
5,82
,596
.00
11
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54,4
48
51,
844
-
-
27
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492.
00
12,
26,5
3,37
9
1,1
7,05
,333
Inve
stmen
ts -
-
2,
85,4
4,43
9.00
9
4,51
,98,
131
2
3,00
,000
-
-
-
9
7,60
,42,
570
8
3,65
,49,
901
Inte
rest
Accr
ued
but n
ot d
ue +
TDS
-
-
4
3,30
,046
.00
8
,94,
07,5
11
40,
140
-
-
-
9
,37,
77,6
97
7,6
6,04
,244
Sund
ry C
redit
ors
-
-
(5,9
7,36
0.00
) (1
7,19
,609
) -
-
-
-
(2
3,16
,969
) (2
4,36
,906
)
Misc
Adv
ance
/Rec
eivab
le -
-
1
,358
.00
20
,73,
02,6
57
-
-
-
-
20,
73,0
4,01
5
11,1
3,99
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TO
TAL
-
-
3,78,6
1,079
.00 1
,35,44
,43,13
9 23
,91,98
4 -
-
27,6
4,492
.00 1
,39,74
,60,69
3 1,
03,38
,22,30
2
8
IN
STIT
UTE
ENDO
WME
NT
STUD
ENT
NITK
CC
E
CCB
CCMT
GR
AND
GRAN
D
PART
ICUL
ARS
DE
VELO
PMEN
T CH
AIR
ACTI
VITY
CO
RPUS
FU
ND
DASA
20
11
2016
TO
TAL
TOTA
L
FUND
FU
ND
COUN
CIL
FUND
20
15-1
6 20
14-1
5
PLA
CE
: SU
RAT
HK
AL
REG
ISTR
AR
D
IREC
TOR
DAT
E :
25-
07-2
016
N
.I.T.
K.,S
UR
ATH
KA
L N
.I.T.
K.,S
UR
ATH
KA
L
Sd
/- Sd
/-
( RAV
IND
RA
NAT
H K
. )
( PR
OF.
K.N
. LO
KES
H )
(A
MO
UN
T `)
SC
H.
C
UR
REN
T PR
EVIO
US
N
Os.
YEA
R
YEA
R
3
CU
RR
ENT
LIA
BIL
ITIE
S A
ND
PR
OVI
SIO
NS:
A
. C
UR
REN
T LI
AB
ILIT
IES:
1
Dep
osits
from
Sta
ff &
Lea
se
13,5
7,22
4 13
,30,
243
2
Dep
osits
from
Stu
dent
s
2,
39,6
5,49
5 2,
34,1
8,64
2
3
Sund
ry C
redi
tors
- O
ther
s
St
uden
t Act
ivity
Cou
ncil
a)
Liab
ility
for E
xpen
ses
5,
97,3
60
7,
09,6
74
D
ASA
a) L
iabi
lity
tow
ards
Adm
issi
on F
ee a
nd D
epos
it
-
17,0
8,37
3
N
ITK
CO
RPU
S FU
ND
a) L
iabi
lity
tow
ards
Sec
urity
Dep
osit
- Firm
s
12,5
84
b) D
AS
A A
dmis
sion
Fee
Pay
able
17,0
7,02
5 23
,16,
969
18,8
59
4
Dep
osit
- Oth
ers
11,6
4,07
,367
10
,16,
01,6
36
5
Sta
tuto
ry L
iabi
litie
s
a) O
verd
ue
-
-
b) O
ther
s
-
-
6
Oth
er C
urre
nt L
iabi
litie
s
Bill
s P
ayab
le
20
,84,
48,9
69
18
,50,
74,7
18
Sal
ary
Ded
uctio
ns
16
,51,
848
25
,78,
061
Stu
dent
Priz
e Fu
nd
48
,91,
166
48
,41,
166
Stu
dent
Priz
e Fu
nd-In
tere
st A
ccou
nt
16
,47,
776
16
,25,
834
DS
T Fe
llow
ship
Gra
nt
-
-
Oth
er R
esea
rch
Sch
emes
:
8,95
,41,
578
9,
00,0
0,18
7
SC
/ST
Stu
dent
Fee
Ref
unda
ble
16
,85,
000
26
,72,
500
SC
/ST
Sch
olar
ship
Gra
nt
12
,64,
494
19
,43,
854
Wor
ksho
p/S
emin
ar G
rant
16,3
2,00
0 31
,07,
62,8
31
-
TOTA
L (A
)
45
,48,
09,8
86
41,7
5,23
,748
9
B
. PR
OVI
SIO
NS:
1 A
udit
Fee
2,00
,000
1
,50,
000
2
Con
tract
Sal
ary
8,85
0
-
3
Chi
ldre
n E
duca
tion
allo
wan
ce
43,7
3,55
3
-
4
DC
RG
/Com
mut
atio
n Va
lue
10,7
6,95
3
-
5
Ele
ctric
ity c
harg
es
32,6
7,50
8
31,
04,8
24
6
EL-
Enc
ashm
ent
4,22
,670
7
Fello
wsh
ip/S
tipen
d
2,
21,6
6,93
2
1,9
2,18
,661
8
Le
ave
Sal
ary
Con
tribu
tion
-
1,0
5,60
0
9
P
ay &
Allo
wan
ce
4,06
,40,
466
3
,35,
38,7
86
10 P
ensi
on P
aym
ents
1,
45,6
8,30
6
1,4
0,70
,984
11
Phd
Fel
low
ship
Pay
able
-
-
12
Sal
ary
& O
ther
s
-
1
9,52
,174
13
Sch
oler
ship
43
,47,
000
2
,27,
99,3
35
14 S
mar
t Grid
Tec
h C
OE
-K P
Vitt
al
-
1,1
2,50
0
15
Tel
epho
ne /T
elex
4
6,50
4
22,
420
16 W
ater
Sup
ply
10,
07,4
65
10,
68,1
59
TO
TAL
(B)
9,2
1,26
,207
9
,61,
43,4
43
BA
LAN
CE
AS
AT T
HE
YEA
R -
END
FO
R S
CH
EDU
LE -
3 (A
+ B
)
5
4,69
,36,
093
5
1,36
,67,
191
(A
MO
UN
T `
)
SCH
.
CU
RR
ENT
PREV
IOU
S
NO
s.
YE
AR
YE
AR
10
11
SCHE
DULE
: 3
(a) S
PONS
ORE
D PR
OJE
CTS:
Par
ticul
ars
Ope
ning
Bal
ance
Re
ceip
t In
tere
st
Expe
nditu
re
Clos
ing
bala
nce
Ambe
nt A
irbor
ne P
artic
ulat
o-G
anga
mm
a
95,
259.
08
6,9
4,46
6.92
7,8
9,72
6.00
As
sess
mt o
f Per
form
e of
Exp
losi
ves-
V R
Sas
try
86,
358.
26
86,
358.
26
Com
puta
tiona
l Stu
dies
of T
herm
o-Aj
ith
2,2
5,49
5.00
8,9
17.0
0
15,
437.
00
2,1
8,97
5.00
C
onst
n of
Lift
to C
CC
- M
SJ
20,
43,2
03.0
0
20,
43,2
03.0
0
Con
stn
of L
ift to
HC
C-M
SJ
19,
54,8
72.0
0
19,
54,8
72.0
0
CSD
-Stu
dent
Pro
ject
- AG
V
4
,00,
000.
00
4,6
93.0
0
1,5
2,35
6.00
2
,52,
337.
00
CSI
R-B
IOM
ASS
Fuel
Bur
ning
-Dr G
anga
mm
a
5,0
3,50
0.00
1
,19,
287.
00
6,2
2,78
7.00
C
SIR
Syn
thes
is &
Cha
ract
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dhis
h Ba
bu
4
,15,
139.
00
4
,15,
139.
00
CSI
R-V
isua
lizat
ion
of B
oilin
g -D
r Sat
hyab
ham
a
7,7
7,07
9.00
1
,86,
133.
00
9
,63,
212.
00
DAE
:on
the
Solu
tions
of C
onve
ctio
n -E
ngu
Saty
anar
ay
1,3
9,20
0.00
3
,60,
000.
00
6,0
14.0
0
4,7
8,19
1.00
2
7,02
3.00
D
esig
n D
evel
opm
ent a
nd C
hara
cter
izat
ion-
Hem
anth
a K
1
0,52
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.00
1
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000.
00
19,
070.
00
12,
22,0
11.0
5
19,
810.
95
Des
ign
Inno
vatio
n C
ente
r -S.
M.K
ulka
rni
1
8,00
,000
.00
2
3,95
0.00
1
5,00
0.00
1
8,08
,950
.00
Des
ign
Synt
hesi
s-D
arsh
ak T
rived
i 1
0,52
,121
.00
3
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174.
00
1
4,51
,295
.00
D
evel
of
Prob
iotic
s- P
rasa
nna
B D
5
0,71
5.00
5
0,71
5.00
D
ev. o
f Cru
shin
g &
Grin
ding
-Ins
mar
t Sys
tem
-K R
amch
2
,64,
414.
00
1,6
5,60
0.00
9
,159
.00
2
,91,
577.
00
1,4
7,59
6.00
D
ev. o
f Too
l for
Det
ectio
n of
XM
L-Sa
nthi
Thi
laga
m
1,2
2,11
8.00
2
3,11
,000
.00
6
5,26
1.00
1
2,59
,542
.00
1
2,38
,837
.00
Dev
. & P
erfo
rman
ce E
valu
atio
n-Pa
thip
ati S
rihar
i
8,1
0,00
0.00
5
,389
.00
3
,304
.00
8
,12,
085.
00
DST
-Ele
ctro
Che
mic
al-D
r S N
oyel
Vic
toria
3
,83,
718.
00
3,8
3,71
8.00
D
ST-F
IST
HO
D P
hysi
cs-H
S N
agar
aj
37,
51,3
55.0
0
-
54,
702.
00
37,
29,5
92.2
0
76,
464.
80
DST
-FIS
T Pr
ogra
m-D
r P M
ohan
an
98,
206.
00
98,
206.
00
DST
-FIS
T Pr
ogra
m-H
OD
Che
mis
try
1,5
1,83
5.00
1
,51,
835.
00
DST
-FIS
T-PR
OG
RAM
-HO
D-C
SE
37,
97,5
69.0
0
-
90,
112.
00
35,
92,1
43.0
0
2,9
5,53
8.00
D
ST-F
IST-
Prog
ram
-HO
D o
f App
. Mec
h
1
,42,
00,0
00.0
0
3,3
1,33
3.00
1,4
5,31
,333
.00
DST
Gra
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13
14
SCHEDULE 3(c) UNUTILIZED GRANTS FROM GOVERNMENT OF INDIA
` in lakhs
PARTICULARS CURRENT PREVIOUS YEAR YEAR
A. Plan Grants: Balance B/F -841.21 191.42
Add: Receipts during the year 4,400.00 4,300.00
Total (a) 3,558.79 4,491.42
Less: Refunds -
Less: Utilized for Revenue Expenditure 718.16 442.84
Less: Utilized for Capital Expenditure 5,184.21 4,889.80
Total (b) 5,902.37 5,332.63
Unutilized carried forward (a-b) -2,343.58 -841.21
B. Non Plan Grants: Balance B/F -213.18 -115.94
Add: Receipts during the year 5,500.00 6,000.48
Total (c) 5,286.82 5,884.54
Less: Refunds - -
Less: Utilized for Salary Expenditure 4,801.12 4,150.36
Less: Utilized for Non-Salary Expenditure 1,915.48 1,947.36
Total (d) 6,716.61 6,097.72
Unutilized carried forward (c-d) -1,429.79 -213.18
Grand Total (A+B) -3,773.37 -1,054.39
IRG STATEMENT 2015-16
` in lakhs
PARTICULARS CURRENT PREVIOUS YEAR YEAR
TOTAL INTERNAL RECEIPTS 4,231.90 3,547.02
LESS: NON SALARY EXPENDITURE 2,878.18 2,439.16
SURPLUS TRANSFERED TO CORPUS FUND 1,353.72 1,107.86
NAT
ION
AL
INST
ITU
TE O
F TE
CH
NO
LOG
Y K
AR
NAT
AK
AS
UR
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KA
LP.
O. S
RIN
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SN
AG
AR
- 57
5 02
5SC
HED
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NO
. 4
FI
XED
ASS
ETS
& D
EPR
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TIO
N A
S O
N 3
1-03
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6
(A
MO
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)
PAR
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BALA
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ADDI
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DE
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NS
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DEPR
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TOTA
L BA
LANC
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AS
ON
DU
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DU
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TO
TAL
OF
UP TO
31.03
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FOR
THE
DEPR
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AS O
N
01
-04-20
15
THE Y
EAR
THE Y
EAR
DE
P.(%)
YEAR
31-03
-2016
1 2
3 4 =
(1+2
-3)
5 6
7 8 =
(6+7
) 9 =
(4-8)
(A) F
IXED
ASS
ETS
(i) T
angi
ble
Asse
tLa
nd :
Free
hold
9
0,49
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-
-
9
0,49
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-
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B
uild
ings
: Fr
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6
7,69
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2
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10
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1
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09
Pla
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Equ
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ents
1
5,94
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594
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594
1
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26
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Veh
icle
47,
81,4
19
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47,
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19
15
1
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13,
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6,99
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-
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0
10
1
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12,2
13
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2
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22,8
62
11,
56,8
0,84
8 OfficeEquipments
82,61,182
7,90,900
-
90,52,082
15
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Com
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Lab&Scie
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Equipments
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Figu
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Lab&ScientificEquipments
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B. C
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ooks
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NATIONAL INSTITUTE OF TECHNOLOGY KARNATAKA, SURATHKALP.O. SRINIVASNAGAR - 575 025
SCHEDULES FORMING PART OF INCOME & EXPENDITURE FOR THE YEAR ENDED 31-03-2016
(AMOUNT `)
SCH. CURRENT PREVIOUS NOs. YEAR YEAR
9 ACADEMIC RECEIPTS: A Academic Admission Fee-College & Hostel 10,25,750 12,60,750 Library Fee 88,40,000 87,51,310 M.B.A .Tution Fee 49,00,000 46,19,775 M.C.A .Tution Fee 1,57,22,500 1,21,63,475 M.Sc.Tution Fee 14,02,500 14,43,300 Phd Thesis Fee 9,22,500 26,03,700 Phd. Tution Fee 92,34,656 71,50,271 Tution Fee - M.Tech 7,51,91,887 5,92,88,792 Tuition Fee - U.G 21,28,88,237 18,40,88,675
TOTAL (A) 33,01,28,030 28,13,70,048
B Examinations - -
TOTAL (B) - -
C Other Fees Central Computing Facilities Fee 67,62,725 67,64,250 Identity Card 54,400 17,100 Convocation Fee 33,50,083 34,88,725 Late Fee & Fine 6,40,344 9,35,670
TOTAL (C) 1,08,07,552 1,12,05,745
D Sale of Publications
Application Form/Prospectus 12,74,135 9,64,650
TOTAL (D) 12,74,135 9,64,650
E Other Academic Receipts - -
TOTAL (E) - -
TOTAL (F) = (A)+(B)+(C )+(D)+(E) 34,22,09,717 29,35,40,443
Less : Utilised for Capital Expenditure (G) 1,54,01,333 1,10,79,225
TOTAL (F)-(G) 32,68,08,384 28,24,61,218
10 GRANTS / SUBSIDIES:
Balance B/F - - Add : Receipts during the year - Non Plan Grant 55,00,00,000 60,00,48,000 - Annual Plan Grant (Previous Year) - 3,61,00,500
25
- Annual Plan Grant 31,99,89,165 17,81,77,601 86,99,89,165 81,43,26,101 Less : Refund to MHRD - - Balance 86,99,89,165 81,43,26,101 Less : Utilised for Capital Expenditure (A) - - Balance 86,99,89,165 81,43,26,101 Less : Utilised for Revenue Expenditure (B) 86,99,89,165 81,43,26,101
Balance C/F (C ) - -
11 INCOME FROM INVESTMENTS:
1 Interest a. On Government Securities - - b. Other Bonds / Debentures - - 2 Interest on Term Deposits 1,18,11,255 1,67,13,788 3 Income Accrued but not Due on Term Deposits 70,06,287 24,90,744 4 Interest on Savings Bank Accounts - - 5 Others - -
TOTAL (A) 1,88,17,542 1,92,04,532
Less : Transferred to Earmarked / Endowment Funds (B) - -
TOTAL (A)-(B) 1,88,17,542 1,92,04,532
12 INTEREST EARNED:
1 Interest on Savings Bank Accounts 43,15,076 43,58,055
2 On Loans - -
3 On Debtors & Receivable
Interest on MESCOM Deposit 4,51,375 4,77,926
Interest on TDS - -
Interest on Income Tax Refund 4,29,533 -
TOTAL 51,95,984 48,35,981
13 OTHER INCOME: A Income from Land & Building 1 Hostel Room Rent 4,28,96,281 4,18,18,538.00 Rent From Building 14,96,453 12,81,661.00 Rent from Guest House 14,92,760 16,78,504.00 Rent from Quarters 42,74,694 18,82,412.00 2 License Fee - - 3 Hire Charges - - 4 Electricity Charges Recovered - - 5 Water Charges Collection-Qtrs 4,73,590 4,29,840.00 Water Charges-Contractor 1,10,122 75,513.74
TOTAL (A) 5,07,43,900 4,71,66,469
B Sale of Institute’s Publications - -
TOTAL (B) - -
26
C Income from Holding Events - -
TOTAL (C ) - -
D Other
1 Income from Consultancy - - 2 RTI Fees - - 3 Income from Royalty - - 4 Sale of Application Form (Recritment) - - 5 Miscellaneious Receipts (Sale of Tender Form, Waste Papers etc) 8,74,806 3,15,280 6 ProfitonSale/DisposalofAssets a) Owned Assets - - b) Assets Receoved Free of Cost - - 7 Grants/Donations from Insitutions, Welfare Bodies & International Bodies - - AICTE Project 3,26,733 16,18,466 8 Others (Specify) Auction Sales 10,34,637 11,97,750 Leave Salary & Pension Contrib 25,64,544 21,05,628 Transcript Charges 8,15,500 4,06,416 Vehicle Running Charges 2,730 - VerificationFee 7,37,022 4,15,664 Penalty Charges 28,072 24,151 Recoveries Damages / Loss etc. 1,66,000 -
TOTAL (D ) 65,50,044 60,83,355
TOTAL (A)+(B)+(C)+(D) 5,72,93,944 5,32,49,824
14 PRIOR PERIOD INCOME 1 Academic Receipts - - 2 Income from Investments - - 3 Interst Earned - - 4 Other Income - -
TOTAL - -
15 STAFF PAYMENTS & BENEFITS (ESTABLISHMENT EXPENSES) a) Pay Non-Teaching 13,49,27,580 13,82,51,458 b) Pay-Teachng 34,51,84,914 29,22,25,804 c) Allowances & Bonus - - d) Contribution to Provident Fund- - - e) NewDefinedPensionContribution 1,30,06,121 89,03,488 f) Staff Amnities 3,89,955 7,883 g) Pension Payments 14,71,59,606 12,74,07,510 h) LTC/Home Travel Concession 51,89,345 46,17,386 i) Medical Facility 51,92,965 50,70,435 j) Children Education Allowance 43,73,553 45,58,533 k) Honararium - - l) Others 1 Staff Research Project - 77,446 2 Livery to Class IV Staff 1,39,059 76,840 3 Leave Encashment 60,80,971 - 4 Leave Salary/pension Contribution 4,61,556 2,54,032 5 Cumulative Professional Dev Allowance 82,25,015 3,32,95,841
27
6 DCRG and Commutation 1,50,53,545 - 7 Training to Staff and Faculty 9,38,797 11,31,537
TOTAL 68,63,22,982 61,58,78,193
15A EMPLOYEES RETIREMENT AND TERMINAL BENEFITS Opening Balance as on 01.04.2015 - - Add: Capitalised Value of Contributions Received from other Organisations - - Total (a) - - Less: Actual Payment during the year (b) - - Balance as on 31.03.2016 © - - Provision required on 31.03.2016 as per Actuarial Valuation (d) - - A Provision to be made in the Current year (d-c) - - B Contribution to New Pension Scheme - - C Medical Reimbursement to Retired Employees - - D Travel to Hometown on Retirement - - E Deposit Linked Insurance Payment - -
TOTAL - -
16 ACADEMIC EXPENSES a) Laboratory Expenses - - b) Field work/Participation in Conferences 29,16,352 20,73,763 c) Expenses on Seminars/Workshops 21,00,015 30,43,754 d) Payment to Visiting Faculty 35,01,612 34,07,258 e) Examination - - f) Student Welfare Expenses - - g) Admission Expenses - - h) Convocation Expenses 18,32,427 27,01,991 i) Publications - - j) Stipend/Means-cum-merit Scholarship 50,90,977 46,85,877 k) Subscription Expenses - - l) Others 1 Centre of Excellence 89,026 25,739 2 Coaching to SC/ST Students 8,56,795 14,55,475 3 Expert Lectures 12,22,483 6,69,824 4 Internship-UG Non Plan 3,45,029 1,96,480 5 NCC Activities Expenses 4,21,139 1,83,402 6 Phd Contingencies 92,84,720 64,57,249 7 Practical Training at Mining Site 1,25,744 4,43,919 8 Research Interaction 23,02,938 9,06,036 9 Annual Plan Recurring Exp - PG Stipend/ Fellowship 24,76,05,799 16,82,14,869 Operating Cost-Applied Mech. 14,12,513 16,14,186 Operating Cost-Central Computing Facilty 12,52,123 5,15,684 Operating Cost-Chemical Engg. 40,80,235 41,73,457 Operating Cost-Chemistry 20,32,093 24,00,879 Operating Cost-Civil 28,17,685 19,88,758 Operating Cost-Computer Engg 11,82,869 23,37,501 Operating Cost-E&C Engg. 12,00,652 18,02,512 Operating Cost-E&E Engg. 8,44,117 10,73,219 Operating Cost-Humanities Dept. 10,47,113 10,03,740
28
Operating Cost Information Tech 5,76,241 8,44,296 Operating Cost-Library 3,03,09,260 2,63,39,380 Operating Cost-MACS Dept. 5,89,003 11,16,948 Operating Cost-Mechanical Engg 23,91,036 30,79,010 Operating Cost-Metallurgical Engg. 17,41,219 16,78,443 Operating Cost-Mining 6,43,318 10,63,826 Operating Cost-Physics 17,83,043 21,84,927
TOTAL 33,15,97,576 24,76,82,402
17 ADMINISTRATIVE AND GENERAL EXPENSES A Infrastructure a) Electricity & Power 3,15,16,715 2,77,09,010 b) Water Charges 1,41,90,506 1,34,15,528 c) Insurance - - d) Rent, Rates & Taxes (including property tax) 10,83,026 5,86,858
B Communication e) Postage & Stationery 2,62,102 5,67,769 f) Telephone, Fax & Internet Charges 34,20,155 9,27,331
C Others g) Printing & Stationery 38,44,455 48,41,265 h) Travelling, TA & Conveyance 73,87,382 1,09,37,861 i) Hospitality 3,88,945 13,82,674 j) Auditor Remuneration 2,48,380 6,16,832 k) Professional Charges 48,500 - l) Advertisement & Publicity 17,15,163 25,47,258 m) Magzines & Journals 1,43,037 97,508 n) Others Dispensary 1,31,74,668 1,17,56,214 Security Outsourcing 1,22,18,867 1,06,47,732 Operating Cost-Training & Placement 6,85,629 5,47,309 Miscellaneous Expenses 25,25,878 27,54,246 Recurring Expenses from Projects: AICTE Project 3,26,733 16,18,466 Other Research Project 3,38,01,457 2,17,44,293
TOTAL 12,69,81,598 11,26,98,155
18 TRANSPORTATION EXPENSES 1 Vehicles a) Running Expenses 10,03,241 10,54,035 b) Repairs & Maintenance - - c) Insurance Expenses - - 2 Vehicles taken on Rent/Lease a) Rent/Lease Expenses - - 3 Vehicles Hiring Expenses - -
TOTAL 10,03,241 10,54,035
19 REPAIRS & MAINTENANCE a) Building (ACB) 1,52,39,304 1,04,40,874 Hostel 1,14,27,943 75,93,295 Residential Bldg. 26,08,144 27,27,807
29
b) Furniture & Fixtures 1,49,732 50,099 c) Plant & Machinery 49,19,746 55,95,143 d) OfficeEquipments - - e) Computers 1,30,47,851 1,26,15,122 f) Laboratory&ScientificEquipment - - g) Audio Visual Equipment - - h) Cleaning Material & Services - - i) Book Binding Charges j) Gardening 24,91,149 27,69,394 k) Estate Maintenance - - l) Others Internal Telephone - 18,02,649 Guest House 33,36,986 21,62,087 Campus Maint/upkeeping 12,34,452 14,29,673 Electrical Installation 85,74,578 63,02,436 Maintenance of Road 20,19,994 14,605 Maint. of Waste Water Disposal 18,49,882 11,11,505 Annual Plan Recurring Expenses - Other 7,23,83,366 4,50,75,732
TOTAL 13,92,83,127 9,96,90,421
20 FINANCE COSTS a) Bank Charges - - b) Others - -
TOTAL - -
21 OTHER EXPENSES a) Provision for Bad & Dobtful Debts/Advances - - b) Irrecoverable Balances Written Off - - c) Grants/Subsidies to other Insitutions/Organisations 1,34,57,710 1,33,37,765 d) Others : Surplus of Internal Generation over Non-Salary Expenditure transferred to NITK Corpus Fund 13,53,72,128 11,07,86,008 TOTAL 14,88,29,838 12,41,23,773 22 PRIOR PERIOD EXPENSES 1 Establishment Expenses - 34,31,393 2 Academic Expenses 13,02,645 - 3 Administrative Expenses - - 4 Transportation Expenses - - 5 Repairs & Maintenance - - 6 Other Expenses - Depreciation on Earmarked Fund Assets - 3,33,54,758
TOTAL 13,02,645 3,67,86,151
PLACE : SURATHKALDATE : 25-07-2016 REGISTRAR DIRECTOR N.I.T.K., SURATHKAL N.I.T.K., SURATHKAL Sd/- Sd/- ( RAVINDRANATH K. ) ( PROF. K.N. LOKESH )
30
NATI
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nses
:
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ash
in h
and
1,82
,639
32,7
38
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stab
lishm
ent E
xpen
ses
61,0
2,09
,361
53,0
5,79
,273
(b
) Ban
k Ba
lanc
es:
(b
) Adm
inist
rativ
e Ex
pens
es
60,4
6,75
,417
1,
21,4
8,84
,778
40
,51,
60,4
16
(
i) In
cur
rent
acc
ount
s 3,
13,6
7,04
2
7,36
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809
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Sav
ings
acc
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11
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42,2
97
14,3
2,91
,979
10
,57,
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68
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ents
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inst
Ear
mar
ked/
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wmen
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ds
24,5
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68,6
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9
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nts
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ived:
Paym
ents
Aga
inst
Spo
nsor
ed P
roje
cts/
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es
8,
80,4
0,53
5 8,
15,9
9,27
3
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rom
Gov
t. of
Indi
a
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Gra
nt -
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eral
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00,0
00
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stm
ents
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e
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n-Pl
an G
rant
55
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00
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0,00
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00
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arm
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und
34
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20,1
09
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m S
tate
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und
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ceip
ts
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19
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Ex
pend
iture
on
Fixe
d As
sets
&
60
,22,
73,4
46
73,4
2,85
,158
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pita
l Wor
k - i
n - p
rogr
ess:
Re
ceip
ts A
gain
st E
arm
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d/
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wmen
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ds
68
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86,7
17
9,15
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894
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sits
& Ad
vanc
es
89
,75,
65,9
67
69,8
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ipts
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inst
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nsor
ed
Pr
ojec
ts/S
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es
17
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01
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ents
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e ag
ains
t
1,37
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35
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me
on In
vest
men
ts.
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5 1,
47,8
4,34
8 Fu
nds
for v
ario
us p
roje
cts:
In
tere
st R
ecev
ed :
47
,44,
609
43,5
8,05
5 An
y O
ther
Pay
men
ts :
62
,55,
82,9
43
6,70
,07,
522
De
posit
s &
Adva
nces
90,6
7,53
,331
97
,75,
27,6
52
Clos
ing
Bala
nces
:
(a) C
ash
in h
and
1,
26,5
70
1,82
,639
Inve
stm
ents
Enc
ashe
d
38,6
3,00
,000
70
,75,
60,1
49
(b) B
ank
Bala
nces
:
(i
) In
curre
nt a
ccou
nts
13
,86,
40,8
50
3,13
,67,
042
Any
othe
r rec
eipt
s:
1,
85,6
6,48
,559
1,
16,3
9,41
,917
(ii)
Savin
gs a
ccon
ts
3,
78,5
4,20
6 11
,17,
42,2
97
TO
TAL
5,
56,3
1,40
,470
4,4
1,39
,04,
046
TOTA
L
5,56
,31,
40,4
70 4
,41,
39,0
4,04
6
PLA
CE
:
SU
RAT
HK
AL
DAT
E
: 25
-07-
2016
REG
ISTR
AR
D
IREC
TOR
N
.I.T.
K.,
SUR
ATH
KA
L N
.I.T.
K.,
SUR
ATH
KA
L
Sd/-
Sd/-
( R
AVIN
DR
AN
ATH
K. )
( P
RO
F. K
.N. L
OK
ESH
)
31
SCH
EDU
LE: 2
3
TEC
HN
ICA
L ED
UC
ATIO
N Q
UA
LITY
IMPR
OVE
MEN
T PR
OG
RA
MM
E (T
EQIP
) - P
HA
SE I
NIT
K S
UR
ATH
KA
L, S
RIN
IVA
SN
AG
AR
.
BA
LAN
CE
SHEE
T A
S O
N 3
1.03
.201
6
LI
AB
ILIT
IES
Rs.
Ps
.
ASS
ETS
Rs.
P
s.
Gra
nt fr
om M
HR
D
Fixe
d A
sset
s:
Bal
ance
18,4
2,37
,765
B
alan
ce
18,4
2,37
,765
18,4
2,37
,765
18,4
2,37
,765
PLA
CE
:
SU
RAT
HK
AL
DAT
E
: 28
-06-
2016
R
EGIS
TRA
R
DIR
ECTO
R
N.I.
T.K
., SU
RAT
HK
AL
N.I.
T.K
., SU
RAT
HK
AL
Sd
/- Sd
/-
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IND
RA
NAT
H K
. )
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OF.
K.N
. LO
KES
H )
32
SCH
EDU
LE: 2
4TE
CH
NIC
AL
EDU
CAT
ION
QU
ALI
TY IM
PRO
VEM
ENT
PRO
GR
AM
ME
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IP) -
PH
ASE
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NIT
K S
UR
ATH
KA
L, S
RIN
IVA
SN
AG
AR
.
BA
LAN
CE
SHEE
T A
S AT
31ST
MA
RC
H 2
016
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O.
PAR
TIC
ULA
RS
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EDU
LE
CU
RR
ENT
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`
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R
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AR
`
`
A
SOU
RC
E O
F FU
ND
S
O
peni
ng B
alan
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nt R
ecei
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28
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00
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10
6825
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97
6029
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ss :
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ess
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ditu
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e
13
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9268
06
78
5252
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B
APP
LIC
ATIO
N O
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sset
s:
I
52
4038
12
52
4038
12
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W
ork
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rogr
ess
-
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A
. Cur
rent
Ass
ets,
Loa
ns a
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dvan
ces:
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ash
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ance
-
-
b)
B
ank
Bal
ance
II
40
5609
94
26
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l Goo
ds
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-
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ans
and
Adv
ance
s
-
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4056
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2615
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B. L
ess
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rent
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bilit
ies.
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VA
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e of
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der D
ocum
ents
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-
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S
ecur
ity D
epos
it
38
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4052
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000
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L
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SignificantA
ccountingPoliciesandNotestoaccountsformingpartofaccount
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ce :
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ivas
naga
rD
ate
: 2
4-05
-201
6
REG
ISTR
AR
D
IREC
TOR
NIT
K, S
UR
ATH
KA
L
NIT
K, S
UR
ATH
KA
L
For N
ITIN
J. S
HET
TY &
CO
C
hart
ered
Acc
ount
ants
Firm
Reg
. No.
008
891S
Sd
/- Sd
/- Sd
/-
(RAV
IND
RA
NAT
H K
.) (P
RO
F. K
.N. L
OK
ESH
) C
A. N
ITIN
J. S
HET
TY, P
artn
er
Mem
bers
hip
No.
025
990
33
34
TEC
HN
ICA
L ED
UC
ATIO
N Q
UA
LITY
IMPR
OVE
MEN
T PR
OG
RA
MM
E (T
EQIP
)P
HA
SE
- II
NIT
K S
UR
ATH
KA
L, S
RIN
IVA
SN
AG
AR
.IN
CO
ME
& E
XPEN
DIT
UR
E FO
R T
HE
YEA
R E
ND
ED 3
1ST M
AR
CH
201
6
Pla
ce
: S
riniv
asna
gar
REG
ISTR
AR
D
IREC
TOR
Fo
r NIT
IN J
. SH
ETTY
& C
OD
ate
:
24-0
5-20
16
NIT
K, S
UR
ATH
KA
L
NIT
K, S
UR
ATH
KA
L C
hart
ered
Acc
ount
ants
Fi
rm R
eg. N
o. 0
0889
1S
Sd/-
Sd/-
Sd/-
(R
AVIN
DR
AN
ATH
K.)
( PR
OF.
K.N
. LO
KES
H )
CA
. NIT
IN J
. SH
ETTY
, Par
tner
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embe
rshi
p N
o. 0
2599
0
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to
Curre
nt Y
ear
Cum
ulat
ive
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Cu
rrent
Yea
r Cu
mul
ative
Pr
evio
us Y
ear
EX
PEND
ITUR
E Am
ount
in
Amou
nt in
Pr
evio
us Y
ear
INCO
ME
Amou
nt in
Am
ount
in
Am
ount
in `
`
` Am
ount
in `
` `
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798
To C
onsu
ltanc
y 22
800
8459
8 49
3231
1 By
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tere
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n In
vest
men
ts
8950
61
5827
372
10
3019
46
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min
ars
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orks
hops
-
1030
1946
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ther
3132
2
Mis
cella
neou
s In
com
e -
3132
2
4830
99
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min
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tion
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nditu
re
- 48
3099
26
5200
Reg
istra
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30
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2952
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50
00
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le o
f Bid
Doc
umen
t -
5000
10
4257
85
" Te
achi
ng &
Res
earc
h As
sista
ntsh
ip
2155
860
1258
1645
43
1747
58
" Ex
cess
of E
xpen
ditu
re o
ver I
ncom
e. 1
3898
437
5707
3195
92
8771
"
Enha
ncem
ent o
f R&D
Act
iviti
es
4367
878
5296
649
4282
05
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stitu
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l Man
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C
apac
ity E
nhan
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ent
1081
366
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2854
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taff
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elop
men
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3966
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9415
9
9354
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l Ref
orm
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tern
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onfe
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9441
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19
18
6677
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Indu
stry
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itute
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ract
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6816
96
2548
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11
3263
5 To
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dem
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2913
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Cos
t:
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T
rave
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nses
49
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365103
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71317
436420
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2338
Adv
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41
154
O
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quip
men
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50
4420
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ank
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rges
10
61
2110
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26
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ff Sa
lary
12
6326
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5
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ccountingPoliciesandNotestoaccountsformpartofaccount
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ICA
L ED
UC
ATIO
N Q
UA
LITY
IMPR
OVE
MEN
T PR
OG
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MM
E (T
EQIP
)PH
ASE
- II
NIT
K S
UR
ATH
KA
L, S
RIN
IVA
SN
AG
AR
.R
ECEI
PT &
PAY
MEN
T FO
R T
HE
YEA
R E
ND
ED 3
1ST M
AR
CH
201
6
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to
Curr
ent Y
ear
Cum
ulat
ive
Upto
Cu
rren
t Yea
r Cu
mul
ativ
e S
l.No.
REC
EIPT
Pr
evio
us Y
ear
Amou
nt in
Am
ount
in
Sl.N
o. P
AYM
ENT
Prev
ious
Yea
r Am
ount
in
Amou
nt in
Amou
nt in
`
` `
Amou
nt in
`
` `
1
Ope
ning
Bal
ance
1 Re
leas
e to
-
-
-
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Cas
h in
Han
d
-
-
ii) C
ash
at B
ank
11
5943
0 -
2
Paym
ent t
o
iii)
Fix
ed D
epos
it w
ith B
ank
25
0000
00
-
Con
sulta
nts
6179
8 22
800
8459
8
Sem
inar
s &
Wor
ksho
ps
1030
1946
-
1030
1946
2
Gra
nt
R
ecei
ved
from
MH
RD
12
1700
000
2830
0000
15
0000
000
3 Pr
ocur
emen
t of A
sset
s
Book
s, L
Rs
and
Softw
ares
80
7062
9 -
8070
629
3
Oth
er
Equi
pmen
ts
4429
8604
-
4429
8604
Inte
rest
on
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stm
ents
49
3231
1 89
5061
58
2737
2
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iture
34
579
-
3457
9
M
isce
llane
ous
Inco
me
2215
5 -
22
155
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les
Tax
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lect
ed
1264
5 11
623
2426
8 4
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inis
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n Ex
pend
iture
48
3099
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99
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egis
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n Fe
e
2652
00
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5200
Inco
me
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tract
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87
599
2157
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9177
5
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hing
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esea
rch
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of B
id D
ocum
ent
5000
-
5000
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stan
tshi
p 10
4257
85
2155
860
1258
1645
Adva
nces
12
2003
48
5527
940
1772
8288
6
Enha
ncem
ent o
f R&D
TDS
on In
tere
st
1301
82
-
1301
82
Ac
tiviti
es
9287
71
4367
878
5296
649
Secu
rity
Dep
osit
8800
0 -
88
000
7 Fa
culty
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taff
Deve
lopm
ent
2854
496
1239
664
4094
159
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er
9167
-
9167
8
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stry
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itute
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ract
ion
1866
777
6816
96
2548
473
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stitu
tiona
l Man
agem
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Ca
paci
ty E
nhan
cem
ent
4282
05
1081
366
1509
571
10
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itutio
nal R
efor
ms
9354
798
-
9354
798
11
Acad
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port
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W
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ents
11
3263
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1355
14
2399
0
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crem
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l Ope
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365103
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men
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ank
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me
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87
599
2157
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curit
y D
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rges
10
50
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21
11
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s Ta
x 12
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3 24
268
14
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nce
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h in
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ank
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5609
94
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40
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607
6094
5632
17
4238
809
To
tal
1394
5260
7 60
9456
32
1742
3880
9
SignificantAccountingPo
liciesandNotestoaccountsformpartofaccount.
Up
to
Curr
ent Y
ear
Cum
ulat
ive
Upto
Cu
rren
t Yea
r Cu
mul
ativ
e S
l.No.
REC
EIPT
Pr
evio
us Y
ear
Amou
nt in
Am
ount
in
Sl.N
o. P
AYM
ENT
Prev
ious
Yea
r Am
ount
in
Amou
nt in
Amou
nt in
`
` `
Amou
nt in
`
` `
Pla
ce
: S
riniv
asna
gar
Dat
e
: 24
-05-
2016
R
EGIS
TRA
R
DIR
ECTO
R
For N
ITIN
J. S
HET
TY &
CO
N
ITK
, SU
RAT
HK
AL
NIT
K, S
UR
ATH
KA
L
Cha
rter
ed A
ccou
ntan
ts
Fi
rm R
eg. N
o. 0
0889
1S
Sd
/- Sd
/- Sd
/-
( R
AVIN
DR
AN
ATH
K )
( PR
OF.
K.N
. LO
KES
H )
CA
. NIT
IN J
. SH
ETTY
, Par
tner
M
embe
rshi
p N
o. 0
2599
0
36
37
NAT
ION
AL
INST
ITU
TE O
F TE
CH
NO
LOG
Y K
AR
NAT
AK
A,
SUR
ATH
KA
L C
OLL
EGE,
PRO
VID
ENT
FUN
D.
BA
LAN
CE
SHEE
T A
S O
N 3
1ST M
AR
CH
, 201
6
LI
AB
ILIT
IES
Rs.
Ps
. R
s.
Ps.
ASS
ETS
Rs.
Ps
. R
s.
Ps.
C
PF S
UB
SCR
IPTI
ON
:
IN
VEST
MEN
TS :
B
alan
ce a
s pe
r las
t Bal
ance
She
et
88,6
22.0
0
Gov
t. an
d O
ther
Sec
uriti
es
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40
NATIONAL INSTITUTE OF TECHNOLOGY KARNATAKASURATHKAL, MANGALORE - 575 025
SCHEDULE: 25
SIGNIFICANT ACCOUNTING POLICIES (2015-16)
1. BASIS FOR PREPARATION OF ACCOUNTS
The accounts are prepared under Accrual method of accounting.
2. REVENUE RECOGNITION
2.1 Revenues are recognized on accrual basis except Interests on Savings Bank Accounts.
3. FIXED ASSETS AND DEPRECIATION
3.1 Fixed assets are stated at cost of acquisition including inward freight, duties and taxes and incidental and direct expenses related to acquisition, installation and commissioning.
3.2 Fixed assets are valued at cost less accumulated depreciation under different blocks. Depreciation was provided under written down value method. Assets acquired on and after 1-10-2015are applied with 50% applicable rate of depreciation (Detailed working is given in the Schedule No. 4 to the Balance Sheet).
3.3 Assets created out of Earmarked Funds and funds of Sponsored Projects, where the ownership of such assets vests with the Institution, are setup by credit to Capital Fund and merged with the Fixed Assets of the Institution. Depreciation is charged at the rates applicable to the respective assets. Assets created out of Sponsored Project funds, where the ownership is retained by the sponsors but held and used by the Institution are separately disclosed in the “Notes on Accounts”.
3.4 Intangible Assets: E -Journals and Computer Software are grouped under Intangible Assets.
4. STOCKS:
Expenditure on purchase of chemicals, glassware, Stationary and other stores is accounted as revenue expenditure.
5. RETIREMENT BENEFITS
Employees Gratuity, Leave encashment are accounted under Cash Payment basis and Provision for Gratuity andLeaveencashmentareprovidedonlywhenitwasdueforPaymentduringthefinancialyear.
6. INVESTMENTS
Investments are stated at cost and the same is disclosed in detail as per the standard format.
7. EARMARKED/ENDOWMENT FUNDS
The incomes from investments are credited on accrual basis to the respective Funds. The expenditures are debited to the fund. The assets created out of Earmarked Funds where the ownership Vests in the Institution, are merged with the assets of the Institution by crediting an equal amount to the Capital Fund. The balance in the respective funds is carried forward and is represented on the assets side by the balance at Bank, Investments and accrued interest.
7.1 NITK CORPUS FUND
The fee received from DASA students, Institution share of Consultancy fees and surplus Revenue over Non Salary expenses of the Institute (IRG) are considered to Corpus fund. Income from investments of the fund is added to the Fund. Only the investment Interest earned under the Corpus Fund may be utilized for both Revenue and Capital expenditure based on the guidelines of the Institution.
During the 44th BOG held on 23.03.2016, it was resolved to remove the upper accumulation ceiling limit for NITK Corpus Fund (FC Item No. 34.3.11 dated 23.03.2016)
7.2 ENDOWMENT FUNDS
Endowment funds are received from various individual donors, Trusts and other organizations for establishing ChairsandforMedals&PrizesasspecifiedbytheDonors.TheincomefrominvestmentofeachEndowmentFund is added to the respective Fund. The expenditure on Medals & Prizes is met from the interest earned on investment of the respective Endowment Funds and the balance is carried forward. The balances are represented by Investment in Fixed Deposits and balance in the Saving Bank Account and Accrued Interest on Investments.
7.3. The DASA fund account in respect of Direct Admission of Students Abroad scheme was closed during the year 2014-15. The Surplus amount of DASA fund has been transferred to the Institute Corpus Fund.
8. GOVERNMENT (MHRD) GRANTS
8.1 Government Grants are accounted on sanction/realization basis. However, where a sanction for release ofgrantpertainingtothefinancialyearisreceivedbefore31stMarchandthegrantisactuallyreceivedinthesubsequentfinancialyear,thatgrantisaccountedonaccrualbasisandanequalamountisshownasreceivablefrom the Government.
8.2 Government Grants utilized towards capital expenditure, (on accrual basis) is transferred to the Capital Fund to the extent of amount spent on capital expenditure.
8.3 Government grants for meeting Revenue Expenditure (on accrual basis) are treated, to the extent utilized, as income of the year in which they are realized.
8.4 Unutilized grants (including advances paid out of such grants) are carried forward and exhibited as a liability in the Balance Sheet.
9. INVESTMENTS OF EARMARKED FUNDS AND INTEREST INCOME ACCRUED ON SUCH INVESTMENTS:
To the extent not required immediately for expenditure, the amounts available against such funds are invested in Short/Long Term Deposit in Scheduled Nationalized Banks, leaving a balance in Savings Bank Accounts. Interest received, interest accrued and due and interest accrued but not due on such investments are added to the respective funds and not treated as income of the Institution.
10. SPONSORED PROJECTS
10.1 In respect of ongoing Sponsored Projects, the amounts received from sponsors are credited to the head “Current Liabilities and Provisions -Current Liabilities -Other Liabilities -Receipts against ongoing sponsored projects.” As and when expenditure is incurred /advances are paid against such projects, or the concerned project account is debited with allocated overhead charges, the liability account is debited.
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42
10.2 In addition to the Earmarked Fund for the Junior Research Fellowships funded by the MHRD, Fellowships and Scholarships are also sponsored by various organizations. These are accounted in the same way as Sponsored Projects except that the expenditure generally is only on disbursement of Fellowships and Scholarships, which may include allowances for contingent expenditure by the Fellows and scholars.
10.3 The Institution awards Fellowships and Scholarships to Under Graduate and Post Graduate students, which are accounted as Academic expenses.
11. INCOME TAX
The income of the Institution is exempt from Income Tax under Section 10(23c) of the Income Tax Act. No provision for tax is therefore made in the accounts.
Date : 25-07-2016 Place : Surathkal
REGISTRAR DIRECTOR Sd/- Sd/- ( RAVINDRANATH K. ) (PROF. K.N. LOKESH)
NATIONAL INSTITUTE OF TECHNOLOGY KARNATAKASURATHKAL, MANGALORE - 575 025
SCHEDULE: 26
CONTINGENT LIABILITIES AND NOTES TO ACCOUNTS (2015-16)
A. CONTINGENT LIABILITIES:
1. CONTINGENT LIABILITIES:
1.1 As on 31.03.2016 following arbitration case is pending for decisions with regard to the contractor. Construction of Ladies Hostel Rs. 29,79,122/-.
1.2 Disputed demands in respect of Service Tax is Rs. 22,97,932/-. Presently the appeal is with the Commissioner of Central Excise (Appeals) and we have paid the mandatory pre deposit of Rs. 1,72,345/- being the 7.5% of the service tax demand of Rs. 22,97,932/-.
B. NOTES TO ACCOUNTS:
2. FIXED ASSETS:
2.1 Additions in the year to Fixed Assets in Schedule include Assets purchased out of Plan Funds Rs. 9,66,82,918/-, Non-Plan Funds - Rs. 1,56,35,432/- and Sponsored Projects Rs. 4,92,50,899/- (No depreciation is provided for Sponsor Projects).
2.2 Fixed Assets acquired out of Plan, Non-plan funds and other funds have been exhibited in Sub Schedules A, B & C of the main schedule of Fixed Assets. (Schedule 4).
2.3 DepreciablefixedassetsassetoutinSchedule4donotincludeassetspurchasedoutoffundsofsponsoredprojects, as project contracts include stipulations that all such assets purchased out of project funds will remain the property of the sponsors.
3. DEPOSIT LIABILITIES – No deposit liabilities.
4. EXPENDITURE IN FOREIGN CURRENCY:
During the year 2015-16 the Institute has incurred expenditure in foreign currency and remitted the amount as under:
Type of Currency Amount
Euro 95,384/-Swiss Franc 15,445/-USD 1,60,071/-Japan Yen 30,96,000/-
5. CURRENT ASSETS, LOANS, ADVANCES AND DEPOSITS
In the opinion of the Management, the current assets, Loans, Advances and Deposits have a value on realization in the ordinary course, equal at least to the aggregate amount shown in the Balance Sheet.
6. The details of balances in Saving Bank Accounts, Current Accounts and Fixed Deposit Accounts with Banks are enclosed as attachment ‘A’ to the Schedule of Current Assets.
7.Previousyear’sfigureshavebeenregroupedwherevernecessary.
43
44
8. Figures in the Final accounts have been rounded off to the nearest rupee.
9. Schedules 1 to 24 are annexed to and form an integral part of the Balance Sheet at 31st March 2016 and the Income & Expenditure account for the year ended on that date.
10.Theexistingemployeesterminalbenefit&Pensioners liabilityaspertherequirementundertheuniformaccounting standards prescribed by the Ministry valued at Rs.330.29 crores, as on 31-3-2016 by actuaries M/s. K.A.Pandit , an approved Consultant and Actuaries, Mumbai. The details are as follows:
Pension Liability Rs. 287.57 Crore Leave Encashment Liability Rs. 20.71 Crore Gratuity Liability Rs. 22.01 Crore
ProvisionforthesameisnotmadeinthebooksofaccountsforwantoffinancialsupportfromtheMHRD.
11. As the Provident Fund Accounts are owned by the members of those funds and not by the Institution, these accounts were separated from the Institution’s Accounts. A Receipts & Payments Account and Income &Expenditure Account (on Accrual basis) and a Balance Sheet of the Provident Fund Accounts for the year 2015-16 have been attached, to the Institution’s Accounts. During the year a sum of Rs. 3,05,52,040/-collected and transferred to GPF Trust Account.
All portion of the New Pension Scheme funds (Rs.2,53,08,000/-) in respect of 144 employees who have been allotted PRA numbers has been transferred to National Securities Depository Limited (NSDL) - Central Record keeping Agency (CRA). No pending cases of PRA allotment as on 31-3-2016.
12. WORKS IN PROGRESS:
Works in Progress is valued at cost incurred basis
13. TUITION FEE:
Tuition fee is collected on semester basis and accounted as per semester fee collection basis even though the periodisspreadovertotwofinancialyears.
14. OTHER:
1. Previousyearfigureshavebeenre-castedandregroupedwherevernecessaryinconformitywithcurrentyear presentation.
2. TEQIP Phase I and Phase II accounts were incorporated directly in the Balance Sheet of the Institute. As per the norms of TEQIP, no depreciation has been provided.
3. TuitionfeeexemptionhasbeenextendedtoallSC/STstudentsalongwithotherbenefits.HencetuitionFeeisaccountedonaccrualbasisandotherbenefitssuchasLaptop,Bookallowance,Messallowanceetc.,accounted on claim basis.
4. Land includes measuring 78 cents of book value Rs. 24014/- which was under dispute. Out of which 62 cents of land was in the revenue court was decreed in favor of the Institute and same is appealed by the party in the tribunal and 16 cents of land is under encroachment.
5. N.I.T.K. Hostel Mess Account is maintained separately. It is a separate entity governed by the NITK Hostel Trust (R).
Date : 25-07-2016 Place : Surathkal REGISTRAR DIRECTOR Sd/- Sd/- ( RAVINDRANATH K. ) (PROF. K.N. LOKESH)
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