The Department of Finance and Accounts functions under the division of Finance officers. Its Consists of Asstt. Registrar, Section Officer (A/Cs), Assistants, UDCs/Cashier and LDCs. Since 1991 University receives grants from the Govt of India since the financial year 1995-96. Now it gets full grants from the U.G.C.

All the transactions of any institution either begin from the Accounts Department or end with the Accounts Department. Considering this, the Accounts Department plays a vital role in the day to day functioning of the institution. In our university as well, the Accounts Department plays the same role and the activities of the department can be bifurcated into two broad segments:

1. Day to day activities
2. Other activities

Day to day or routine activities can be depicted with the help of a flow chart as under

Receipt of Bill/Payment Order

Checking/Processing of the Bill

Preparation of Voucher

Checking of Voucher

Passing of Voucher

Entry into Cash Book

Posting in the Ledger

Preparation of monthly Trial Balance

Preparation of Annual Accounts at the end of the year

The other activities of the Accounts Department can broadly be classified as under:

1. Preparation of Budget Estimates
2. Providing information to the Ministry and other departments with respect to Income and Expenditure of the University.
3. Dealing with Auditors
4. Investment of GP fund
5. Maintenance of GP Fund and other Advances
6. Preparation of monthly Salary and Pension bill.
7. Calculation of Income Tax on Salary and Pension.
8. Preparation of Income Tax Returns

The above list is only illustrative and not exhaustive.

Shri Lal Bahadur Shastri National Sanskrit University is sanctioned grants by the University Grants Commission normally under two heads (1) Non Plan or Maintenance Grant (2) Plan Grant.

The Annual Budget of Non Plan/Maintenance Grant of the University is approximately Rs. 800.00 Lakhs. For the Financial Year 2008-09, the university has been sanctioned a total sum of Rs.1258.02 Lakhs. The Maintenance Budget of the University increase @ 10% to 15% every year. To manage the functioning of the Accounts Department in a more efficient way, certain committees have been formulated. The two important committees are:

1. Finance Committee
2. Investment Committee

These committees are represented by the MHRD and UGC through their nominees

The Accounts Department of Shri Lal Bahadur Shastri National Sanskrit University is well equipped :

1. One Finance Officer
2. Two Assistant Registrars
3. One Section Officer
4. Two Assistants
5. Two UDCs, one in charge of Cash
6. One Daftari
7. One Gr. D

The Accounts Department of the University is very progressive and fully computerized.