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CvSU MANUAL OF OPERATIONS
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Article 2. University Income. This refers to receipts or revenues
collected by the University

Section 1. Tuition, other necessary school charges, such as but not
limited to matriculation fees, graduation fees, income from
agricultural operation and auxiliary services shall form part of the
University income.

Section 2. The University authorized to retain Revolving Fund its
income from food production, and auxiliary services shall form part of
the University income.

Section 3. Under the provisions of RA 8292, Higher Education
Modernization Act of 1997, the University is authorized to deposit in
any Authorized Government Depository Bank (AGDB) and treated as
Special Trust Fund, income from tuition, and necessary school
charges such as but not limited to matriculation fees, graduation fees
and laboratory fees. All interest that shall accrue from there shall
form part of the same fund for the use of the University. The law
further authorizes the Board of Regents of the University to disburse
such income and other charges, as well as those generated from the
operations of auxiliary services and land grants, for instruction,
research, extension or other programs /projects of the University.
Such disbursements require a special budget duly approved only by
the BOR which is now empowered by RA No. 8292 to appropriate the
income of the University and allocate funds with flexibility. Provided
that all fiduciary fees shall be disbursed for the specific purpose for
which these are collected.

Article 3. Financial Management Services (FMS). The Financial
Management Services Unit shall be established in the University. The
unit comprises the consolidated functions of the Budget Section,
Accounting Section and Cashier. The unit shall safeguard assets, check
the accuracy and reliability of the financial data, promote the
effectiveness of policies in the utilization of funds and encourage
adherence to University policies thrusts and priorities.

a.) The Financial Management Services Unit shall be under the direct
supervision of the Director for Financial Management

b) The Financial Management Services Unit shall monitor and see to it
that the financial management and plans of the University are carried
out effectively and economically and make recommendations to
improve and strengthen the system.

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