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Financial Management of KISS

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

Note

1. Total 5% seats in professional education programmes of KIIT University are reserved for meritorious students from KISS. Several meritorious students from KISS are studying free of cost in KIIT Group of Institutions in technical and professional courses, such as Bachelor of Medicine & Surgery (MBBS), Dental Sciences & Surgery, Nursing, Engineering, Masters in Computer Application (MCA), Bachelor / Masters in Law, Management (MBA), Diploma in Engineering, etc. This involves a financial outlay of Rs. 25 crores (appx).

2. KIIT University also provides support services by way of visiting faculty, transpiration, maintenance for electricity / water supply system, medical assistance, security, etc. and these costs will add up to further Rs. 10.00 crores

3. Thus the overall Recurring costs will be in the range of Rs. 111.04 crores. This does not include KIIT contribution towards Non- recurring expenses of Rs. 18.10 crores by way of Corpus donation for up-gradation of infrastructure facilities.