LAHORE: The Emerson University Multan has approved a surplus budget of Rs303 million for the 2024-25 fiscal.

The approval came during the 5th Finance and Planning Committee meeting held on Saturday, chaired by VC Dr Muhammad Ramzan.

Reflecting on the 2023-24 fiscal, EUM reported an estimated expenditure of Rs855.07m against resources of Rs912.991m. Through rigorous financial discipline and austerity measures, the revised estimates reduced expenditures to Rs454.754m while increasing resources to Rs962.122m, resulting in significant saving of Rs507.368m.

The committee estimated Rs1.19bn total expenditure for the fiscal year 2024–25 against total resources of Rs1.493bn.

The new budget includes Rs281.891m for budgetary support, with allocations of Rs5m for the pension fund and Rs10m for the University Endowment Fund to ensure sustainability.

The meeting also approved several new programmes.

The committee also approved the creation and abolition of posts for the fiscal year 2024-25.

Published in Dawn, June 30th, 2024