Fund Mobilization and Optimisation of Resource Utilization
Fund mobilization
For the mobilization of finances and resources, as a self-financing university SIMATS maintains and executes a well-planned approach for the generation of funds and its utilization. Even though our main source of funds mobilizes form the student’s annual tuition fee, we aim to reduce the burden on student bodies by other sources such as:
Endowments in the form of assets invested by university to support its perpetuity
Funds in the form of research grants from both government and public sectors
By converting the institutes patents and other intellectual property into the in-house developed commercial products
Individual and corporate sponsorships sought for various events
Consultancy services for professionals
Developing E content to generate newer modes of revenues like master class, skills share etc.
Research consultancies generated from our advanced research labs like blue lab, white lab in various fields
By starting fellowship courses for skill development of professional to improve department revenue.
Donations from alumni
Optimization of the resource allocation
We have a decentralised finance utilization policy where individual departments are allotted capital funds for vertical development and research. The BOM allocates funds to all the departments that can be utilized by the respective HOD’s within the financial year. Whereas the unutilized funds are redistributed to the most diligent departments to promote their growth. The department's fund management is overseen by the finance committee for the most efficient use of funds, allocated for their capital and operational expenses. A brief accounting has been given in the following as a template to our financial optimization.
For the maintenance of the university academic facilities 225 crores have been designated out of which 216 crores have been used in the year 2020 - 2021.
On an average, 110 crores have been assigned for the infrastructure and asset development for the year 2020-2021, out of which 100 crores 90 lakhs have been utilized.
Among the budget for infrastructure, we have assigned funds of 45 crores specifically for research equipments for the year 2020 - 2021 out of which 43.67 crores have been utilized efficiently.
With the provision of the seed money ~ Rs. 11 crores we expanded our horizon of research in various fields and have acquired new softwares, instruments and laboratories. We also promote incentives to the most actively involved researchers in their respective fields.
Our recent addition, Virtual reality and simulation academy is the only preclinical studio in India to train students in a virtual simulation and haptic mode.
We also have actively invested (40 crores) in traditional cost centres to accommodate the newly added programmes and have established 6 colleges, 3 central libraries, sports facilities etc.
Future goals
To raise the hospital’s quality of the hospital and make it self-sustainable.
To make revenue and allocate a funds towards the service of poor.
More software applications to be added, as well as customizing protocols specific to our university.
To establish a video platform for educational purposes.
To enhance our current alumni and establish philanthropic financing.