The Board has its own source of income, and the expenditure incurred by the Board for its various functions is out of its own income. No Grant in aid is received by the Board from State or Central Government.

The Board has two kinds of major heads for income and expenditure.

1. Waqf fund under section 77 of Act.
2. Institution fund under section 42 of Act.

“Waqf Fund”: Waqf fund head is the only head wherein all kinds of receipts to the Board is deposited and all kinds of expenditure for its functions are to be incurred. The salary of staff is to be paid from this head only . The income and expenditure of the head for last three years is as under :

The receipts of Waqf fund are short of its expenditure. The difference is managed by temporary diversion of funds from Institution’s head.

“Institution Fund”: There is a fund of Institutions, which are independent, but under direct control of the Board. The income generated by institutions are to be spend for these institutions only except 10% supervision charges and 7% Waqf fund that can be received by the Board . Board has no right over this fund except above charges as per law. But Board was compelled to divert funds to the tune of Rs. 2.69 corer in last 10 years as a loan to Waqf fund, which is a liability of Waqf fund. The local fund audit has continuously objected to this diversion and asked to pay back the funds but it could not be done due to low receipts of Board and non-receipt of grants from Government. Receipts and expenditure of Institution fund is as under for last three years.

Board has sent proposal to State Government for release of Grants to Board. The proposal is under consideration. Following State Waqf Boards receive grant in aid from respective State Board.
(As per information provided by these Boards)