UGC to Observe Financial Irregularities of Private Universities
University Grants Commission (UGC) of Bangladesh is going to observe the financial irregularities of many private universities. The organization has recently collecting audit reports of all private universities.
Despite specific laws concerning the income and expenditure of private universities, most of these higher institutions are not maintaining it properly, which general raise a question of transparency and accountability.
University Grants Commission (UGC) in its 41st annual report 2014 found that there are massive differences in different financial matters including admission and tuition fees, teachers' salaries, and allowances.
Besides, the report noted that private universities charged exorbitant fees to issue transcripts, certificates, testimonials and so on, and the authorities of these educational institutions are even hiking different fees, including tuition and admission fees, every year, without any logical grounds.
The commission considers it indispensable to keep different fees and charges at tolerable levels, to ease the burden on meritorious and financially poor students, in the field of higher education. In the report 2014, the UGC found that the income and expenditure of private universities are rising every year. The expenditure of some of the private universities is even higher than their income.
After analyzing the data submitted by 75 private universities in 2014, UGC found that the income and expenditure of seven universities were equal. Educationists observed that income and expenditure should not be equal. It is necessary to keep some money in the fund for the development works of the respective universities, they added.
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Account BenefitThe equal income and expenditure of seven universities were Bangladesh University of Business and Technology (Tk. 50.83crore), State University of Bangladesh (Tk. 23.57cr), Dhaka International University (Tk. 28.75cr), Sonargaon University (Tk. 18.01cr), Britannia University (Tk. 2.96cr) and Rajshahi University of Science and Technology (Tk. 12.10cr).
Even in 2013, Bangladesh University of Business and Technology (Tk. 40.29cr), State University of Bangladesh (Tk. 23.73cr), Dhaka International University (Tk. 25.89cr), and Britannia University (Tk. 1.76cr) had the equal income and expenditure.
In 2014, North South University earned the highest annual income of some Tk. 218.55cr, followed by American University of Tk. 194.23cr and BRAC University at Tk. 162.58cr in third position and EXIM Bank Agricultural University, Bangladesh earned the lowest of Tk. 14.08 lakh.
In 2013, North South University was the highest in terms of annual expenditure of some Tk. 187.95cr, followed by American International University of Tk. 159.50cr and BRAC University of Tk. 147.85cr and the lowest was Fast Capital University of Bangladesh of Tk. 101.02 lakh.
The commission believes that additional expenditure on part of the universities would bring about all-round welfare and development of the students.
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