ADVOKS GLOBAL · KENYA
The Charter for Scott Christian University
37. Annual Budget
Edition: 2022-12-31 · In force
37. Annual Budget
(1)Three months before the commencement of a financial year, the Governing Council shall cause to be prepared an annual budget of estimates of revenue and expenditure of the College for that financial year.(2)The annual budget shall make provision for all the estimated expenditure of the College for the financial year concerned, and in particular shall provide for—(a)payment of salaries, allowances and other charges in respect of the staff of the College;(b)payment of any pensions, gratuities and other charges in respect of retirement benefits which are payable out of the funds of the College;(c)funding of the cost of teaching, research and extension activities of the College;(d)funding of the cost of scholarships payable out of the funds of the College;(e)funding of the development of buildings and other physical plants;(f)proper maintenance of the buildings and grounds of the College;(g)maintenance, repair and replacement of the equipment and other property of the College.(3)The annual budget shall be approved by the Governing Council before the commencement of the financial year.(4)No expenditure shall be incurred for the purposes of the College, except in accordance with the annual estimates approved under subsection (3) above, or in pursuance of an authorisation of the Governing Council.