Article 52.

 General principles

Uni-CV's economic and financial management obeys, namely, the following principles:

a) Legality, rigor, and rationality in the use of means and resources;

b) Uniqueness of cash and budgetary discipline;

c) Efficiency and effectiveness of financial management acts and procedures;

d) Financial sustainability;

e) Transparency in management and accountability;

f) Concurrent and successive inspection of the General Finance Inspection;

g) Successive inspection by the Court of Auditors.

Article 53

Financing

1. It is incumbent upon the State to guarantee the Uni-CV the funds necessary for its operation, within the limits of budget availability and taking into account the University's own revenues.

2. State funding for Uni-CV is based on program contracts signed with the Government.

3. Research and extension activities may be the object of its own financing, through multi-annual or annual projects presented by Uni-CV, or through program contracts signed between Uni-CV and the Government.

Article 54

Financial management

1. Uni-CV collects and manages its revenues and, through them, satisfies the expenses inherent to the pursuit of its purposes.

2. Uni-CV may carry over management balances from year to year, as long as they are duly registered in the budget, upon approval of the same.

3. The creation and maintenance of accounts in commercial banks are not allowed without the proper authorization of the General Directorate of Treasury and access to the bank statement by the latter.

Article 55

Income and Expenses

1. The following are Uni-CV's recipes:

a) The appropriations granted to it by the State;

b) Income from its own assets or from which it enjoys;

c) Income from the payment of tuition fees;

d) Income derived from the provision of services and the sale of publications;

e) Subsidies, subsidies, co-payments, donations, inheritances, and legacies;

f) Proceeds from the sale of immovable property as well as other property, under the terms of the law;

g) Interest on deposit accounts;

h) Management account balances from previous years;

i) The product of fees, emoluments, fines, and penalties;

j) The proceeds of borrowings;

k) Income from intellectual property; and

l) Any other income that legally accrues to it.

2. The expenses of Uni-CV are those resulting from charges arising from the pursuit of the respective purposes, without prejudice to compliance with the applicable law.

Article 56

Management tools

1. In the management of Uni-CV, the following management instruments must be adopted:

a) Strategic plan or multi-year plan of activities;

b) Annual activity plan;

c) Budget;

d) Annual activity report, including project reports;

e) Management account.

f) Monthly and quarterly balance sheets, to be sent to the National Directorate of Budget and Public Accounting, in accordance with the law, accompanied by the bank statement for the period.

2. The strategic plan or the multi-year plan of activities covers the fundamental dimensions of university life, with emphasis on those of teaching, research, and extension, and is updated annually through the annual plans.

3. The annual report provided for in subparagraph d) of the preceding paragraph consists of a detailed balance sheet of the respective activities and must contain, inter alia, the following elements:

a) Reference to development plans and their execution;

b) Analysis of administrative and financial management;

c) Indication of the objectives pursued and the extent to which they were achieved;

d) Inventory of available funds and reference to how they were used;

e) Description of the movements of research, teaching, and non-teaching staff;

f) Elements about school admission, attendance, and success.

4. The report referred to in the previous number must be given due publicity.

5. The Management Account is submitted for judgment by the Court of Auditors, under the terms of the law.

6. The Management Account is also sent to the National Directorate of Budget and Public Accounting, for the consolidation of the General State Account, under the terms of the law.

Article 57

 Applicable legal instruments

The following legal and regulatory instruments are also applicable to Uni-CV, with regard to planning, budgeting, and accountability:

a) Basic State Budget Law;

b) Basic Law of the National Planning System;

c) Classifier of revenues, expenses, non-financial assets, and financial assets and liabilities;

d) State financial and property administration regime;

e) Financial and Public Accounting Regime;

f) National Public Accounting Plan;

g) Legal regime of the State treasury;

h) Law on the Organization and Process of the Court of Auditors and other guidelines of the Court of Auditors; and

i) Annual budget execution diplomas.