• KISS, Bhubaneswar - 751024

Financial Management

Financial Management

Income & Expenditure for 2018-19

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, 60,000 tribal children of 62 tribes, including 13 primitive tribes, are pursuing their education from Class-1 to PhD level at KISS.

The sources of income of KISS are as follows;

  • As per the resolution passed by the KIIT Society, 5% of the total turnover of KIIT. This financial year, KIIT has donated Rs. 91.79 crores perations.
  • 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. 8.61 crores (approx.).
  • The Contractors/Vendors of KIIT Group of Institutions contributed to KISS an amount of Rs. 0.30 crores (approx.).
  • The donations from civil society and well-wishers contribute benevolently for this noble cause amounting to Rs. 5.56 crores (approx.).
  • Donations received from different organizations, corporate houses like Give India amounting to Rs. 25.18 cores (approx.).
  • Further, Grants received for projects undertaken is Rs. 36.26 crores.
  • Bank Interest and other miscellaneous receipts is Rs. 3.99 crores.
  • Balance funds requirement was met from own sources / reserves, etc.

Total recurring expenditure for the year 2018-19 is Rs. 102.39 crores.

5% seats in professional education programs 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. 20 crores (approx). KIIT University also provides support services by way of visiting faculty, transportation, maintenance for electricity / water supply system, medical assistance, security, etc. and these costs will add up to further Rs. 10.00 crores

Thus the Overall Recurring expenses will be in the range of Rs. 132.39 crores. In addition the Non- recurring expenses during the year are Rs. 86.56 crores.