Page 66 - SOP Final

SOP FOR PREPARATION OF INSTITUTIONAL BUDGET

Objective: To elaborate the procedure for preparing Department Budget for the
Academic Year.

Responsibility:
 Finance Committee

Procedure:

Target
Sl. Activities Responsibility
dates/days

Establishment of a budget implementation team to 1 week of
st
1. Finance Committee
start working on budget Planning & Preparation February
To start working on Budget preparation, based on the 2 week of
nd
2. Finance Committee
requirement and new high priority spending initiatives. February
Reviewing and Prioritizing the on- going and new 3 week of
rd
3. activities by Budget Committee & sending it to Finance Committee February
Chairperson and Management Trustee

4 week of
th
4. Preparation/Developing of Budget plan Finance Committee
February

Reviewing current program budget structure (Program 1 week of
st
5. budgeting), developing program narratives and Finance Committee March
performance indicators based on actual resources.

st
Study the requirements through sending an internal 1 week of
6. Finance Committee
budget circular to all Department faculties. March

Conducting a Department Brain storm session for 2 week of
nd
7. Finance Committee
Budget Preparation. March

Prioritizing requirements and finalizing proposals for 3 week of
rd
8. Finance Committee
Budget preparation for Current Academic year . March
Preparing Detailed proposal of Internal Department 3 week of
rd
9. Budget and Submitting the proposals to chairperson Finance Committee
and Managing Trustee. March

th
4 week of
10. Preparing final draft budget for current academic year Finance Committee
March

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