Th October 2016 Welcome Note by the Chairman agenda notes

Item:EC:22:2016:34
To consider the minutes of the 32^nd meeting of Building Advisory Committee along with the abstract cost of the building projects, in the prescribed format of UGC, to be held on 14^th September 2016.

NOTE:

The Finance Committee in its 15^th meeting held on 26^th September 2016, vide Item:FC:15:2016:9 considered the 32^nd meeting of the Building Advisory Committee is scheduled to be held on 14^th September 2016 to consider;

1. 
   Placing of work order to L1 firm (vide Bidding Document No.:UKM/A372-000-PKTN-7083/1005) for Civil, Structural, Architectural, Electrical, Plumbing and other Development works (Phase I-B) for establishment of main campus of the University at VPO Ghudda.
   
2. 
   Progress and monitoring work of construction of main campus for Phase I-A.
   
3. 
   Schedule/PERT chart of Phase I-B.
   
4. 
   Release of Rs. 13 crores to the Project Escrow Bank Account for running account bill of contractor.
   
5. 
   Verify payment of Rs. 55,24,415 and Rs. 29,28,003 released on 8^th September 2016, to Engineers’ India Limited (EIL) and Pardeep Sachdeva & Design Associates respectively.
   

The minutes of BAC are placed at Annexure-22.9.

The Finance Committee considered the minutes of BAC dated 15^th September 2016 for taking up three Works/Projects amounting to Rs. 71.26 crores. The FC noted that only an amount of Rs. 45.10   is available with the university to take up the projects. However, the Chairman and  Secretary of the Finance Committee assured that an amount of Rs. 22 crore plus, as on 26^th September 2016 is available with the university earned on UGC grants and the university would like to meet the deficit for these building projects through the interest accrued from Plan Grants. The Finance Committee was also informed that this interest income would further increase and the total interest income as on 31.3.17 would be sufficient to meet the deficit.  
Therefore, the projects under Phase- I B are fully funded. With this information, the FC RESOLVED to approve the minutes of the 32^nd meeting of the BAC.
The FC FURTHER RESOLVED, that the execution of Projects/Civil Works should be monitored by the Monitoring Committee of the university constituted for the purpose, on a continuing and sustained basis, so as to ensure that execution of these projects is on time and that there is no time and cost overruns.