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Financial Management

Kalinga Institute of Social Sciences (KISS) was started in the year 1993 with just 125 tribal students. With the growth of KIIT Group of Institutions, KISS has also grown as the biggest residential tribal institute of the country. KIIT is the backbone of KISS. Now, 25,000 tribal children of 62 tribes, including 13 primitive tribes, are pursuing their education from Class-1 to post-graduation levels in KISS. The sources of income of KISS are as following;

  • As per the resolution passed by the KIIT Society, 5% of the total turnover of KIIT amounting to Rs. 40.14 crores (approx.) is donated to KISS as a charitable work/social responsibility.
  • As per the statutory rules of the KIIT University, each and every staff contributes 3% of his/her gross salary to KISS amounting to Rs. 5.36 crores (approx.).
    The Contractors/Vendors of KIIT Group of Institutions contributed to KISS an amount of Rs. 1.07 crores (approx.).
  • The donations from civil society and well-wishers contribute benevolently for this noble cause amounting to Rs. 5.02 crores (approx.).
  • Donations received from different organizations, corporate houses like Give India amounting to Rs. 9.71 cores (approx.).
  • Sale proceeds of vocational products produced by KISS amounting to Rs.0.12 crores (approx.).
  • Further, Grants & others received from various organizations for projects Rs. 4.93 crores.
  • Balance funds requirement of Rs. 9.69 crores met from market credits.

Total recurring expenditure for the year 2015-16 is Rs. 76.04 crores.

Abridged Income & Expenditure Statement for the year ended 31.03.2016
Particulars Yr:2016 Yr:2015 Particulars Yr:2016 Yr:2015
    Amount (Rs.)     Amount (Rs.)
Academic / Co-curricular Expenses 98,169,610 1142,66,624 Donation –
Mess Related Expenses 342,687,688 2980,65,310 KIIT & KIMS 401,413,413 3429,49,089
Employee benefits expense 129,508,596 990,09,697 Corporate 22,682,882 202,73,180
Project Expenses 15,130,248 236,65,857 Give India 4,962,039 72,30,694
Office Related Expenses 105,900,923 626,05,891 Staff (KIIT Group of Institutions) 53,561,044 434,20,984
Indirect Expenses 47,132 55,484 Vendors 10,655,938 116,76,102
Depreciation and amortisation expense 69,023,744 547,99,478 Others 119,702,686 1120,06,391
Sub-total 612,978,002 5375,56,440
Grant 39,034,124 515,87,199
Other Income 10,306,892 48,50,551
Excess of Expenditure over Income 98,148,923 584,74,151
Total 760,467,941 6524,68,341 Total 760,467,941 6524,68,341
Abridged Balance Sheet as at 31.03.2016
Liabilities Yr:2016  Yr:2015 Assets Yr:2016  Yr:2015
    Amount (Rs.)     Amount (Rs.)
Capital Account Fixed Assets 890,234,848 7291,95,878
Opening Balance 615,960,439 4420,20,388 Non-current assets 5,094,934 45,95,968
Additions during the year (KIIT) 181,009,416 1739,40,051 Current Assets 123,674,665 616,69,023
Total 796,969,855 6159,60,439
Reserves & Surplus (250,500,743) (1523,51,818)
Current Liabilities 308,610,385 2318,52,248
Advance from KIIT 100,000,000 1000,00,000
Office Related Advance 63,924,950
Total 1,019,004,447 7954,60,869 Total 1,019,004,447 7954,60,869