Mysore varsity presents deficit Budget of ₹80.35 crore
The Hindu
University of Mysuru faces revenue shortfall, presenting deficit Budget of ₹80.35 crore for 2024-25 due to pension payments.
Like last year, the century-old University of Mysuru, whose jurisdiction has now been confined to only Mysuru district with the setting up of universities in districts, is facing a revenue shortfall, with a deficit Budget of ₹80.35 crore presented for the year 2024-25 at the Academic Council meeting here on Friday.
With a major chunk of its revenue going towards the payment of salaries, and pensions, the university has been presenting deficit Budgets over the last couple of years. The university was spending 48 per cent on salaries and allowances, while 34 per cent of its revenue was going towards the payment of pensions. About 6 per cent was spent on campus maintenance, 7 per cent on student welfare measures among others.
According to the university estimates, nearly ₹170.50 crore was spent on salaries while ₹120 crore was on pensions. As against the projected revenue of ₹277.39 crore, the expenditure for the year 2024-25 stands at ₹357.74 crore, causing the deficit.
The Finance Officer of the University, K.S. Rekha, presented the Budget in the presence of Vice-Chancellor N.K. Lokanath, who presided over the meeting, Registrar V.R. Shailaja, and members, including MLC C.N. Manje Gowda.
In the Budget, the university said it was expecting a sum of ₹171.78 crore and ₹50 crore for the year 2024-25 from the government towards the payment of salaries and pensions respectively. The university, however, was facing a shortfall of nearly ₹70 crore for pensions.
The revenue expected from other sources includes ₹42 crore through admissions, affiliation, and other fees; ₹3.50 crore from Scheme B courses, ₹45 crore from examination activities; ₹3 crore from the university assets; and ₹6 crore from other sources. For the students of SC/STs, a grant of ₹3 crore was expected from the government.
With an opening balance of ₹3.10 crore, the university has projected a revenue of ₹277.38 crore – a sum of ₹174.78 crore from the State government alone.
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