(1) The annual accounts and the balance sheet of the University shall be prepared under the direction of the Executive Council and shall, once at least every year, and at intervals of not more than fifteen months, be audited by the Directors, Local Funds Accounts, Uttarakhand or by such person or persons as the Chancellor may authorize in this behalf.
(2) A copy of the accounts and balance sheet together with the audit report thereon shall be submitted to the Chancellor along with the observations, if any, of the Executive Council before the thirteenth of September every year.
'A copy of the accounts together with audit report shall also be submitted to State Government, which shall, as soon as, may be, cause the same to be laid before the State Legislature' .
(3) Any observations made by the Chancellor on the annual accounts shall be brought to the notice of the Executive Council and the views of the Executive Council, if any, on such observations, shall be submitted to the Chancellor.
Surcharges 36. (1) An officer specified in any of the clauses (b), (c), (d), (e) and (f) of section 9 shall be liable to surcharges for the loss, waste or misapplication of any money or property of the University, if such loss, waste or misapplication is a direct consequence of his neglect or misconduct.
(2) The procedure of surcharges and the manner of recovery of the amount involved in such loss, waste or misapplication shall be such as maybe prescribed by the Statutes.
CHAPTER-IX Conditions of Services of Employees Conditions of service of employees