The Yashwantrao Chavan Maharashtra Open University Act, 1989.
Section 26. Annual financial estimates.
(1) The annual financial estimates of the University for the ensuing financial year shall be prepared by the Finance Officer, under the direction of the Board of Management, at least five months before the commencement of the Financial year.
(2) The financial year of the University shall be the same as that of the State Government.
(3) The financial estimates shall be submitted to the Board of Management for its approval.
(4) The Finance Officer shall thereafter forward the copies of the financial statements to the Chancellor, the State Government and the Director of Higher Education.
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