Page 86 - EXHIBIT 1_UNIVERSITY-CODE

ARTICLE XI. FINANCIAL OPERATION

Section 1. Annual Budget Preparation. The Annual budget of the University shall be
prepared by the Budget Officers of the different campuses and in coordination
with the Administrative Offices sitting en banc to be presented to the university
administrative council for deliberation before it will be presented to the Board of
Regents for endorsement to the Department of Budget and Management.

Section 2. Income under Special Trust Fund. Income derived from tuition fees, other
university charges, production and land grants and other operating income
collected shall be disbursed in accordance with existing university policies,
rules and laws and other issuances of the Department of Budget and
Management and Commission on Audit.

Section 3. Audit. All accounts and expenses of the University shall be audited by the
Commission on Audit and all disbursements shall be made in accordance with
rules, and regulations prescribed by it.

Section 4. Regulations for Foreign and Local Travel. Expenses for foreign(E.O.298) and
local travels(joint circulars of DBM & COA) shall be subject to the provision of
pertinent rules, laws and regulation prescribed by Executive Order of the
President.

ISU-UDA-UCo-003 80
Revision: 01 June 28, 2016