Laying down the Budget
Article 1 :
The budget is the three-year financial programme of the Federation of the Universities of the Islamic World, called FUIW. It shall be drawn up in three annual sections for the implementation of the items of the budget adopted by the General Conference.
Article 2 :
The budget shall include all expenditures and receipts related to the various activities of the Federation.
As regards expenditure, budget estimates shall be set in the light of the needs to be fulfilled within the framework of those activities.
As regards receipts, the budget shall show all expected income.
Article 3 :
In laying down the budget, due account shall be taken of the administrative structures of the Federation and of the specific nature of its programmes.
Article 4 :
Budget estimates shall be apportioned into entries, headings, articles, items and, if necessary, sub-items.
Article 5 :
Receipt and expenditure estimates shall be in US dollars.
Article 6 :
In addition to receipts, expenditures and any related annexes and explanatory documents, the budget shall include an explanatory memorandum which may be presented by the Secretary General with regard to collection of Member Universities' contributions and, if necessary, the reasons which may have prevented the implementation of the plan of action.
Article 7 :
The Secretary General shall draw up the draft budget and submit it to the Executive Council for consideration, before referring it to the General Conference for adoption.
Article 8 :
Following consideration of the draft budget by the Executive Council, the Secretary General shall send it out to Member Universities two months before the meeting of the General Conference, along with the supporting documents and the relevant analytical studies.