IIM-A has seen a change in its resources in the 50th year of its existence. The institute's balance sheet shows that against an operating loss of Rs 50.49 lakh in 2009-10, and Rs 6.33 crore in 2008-09, IIM-A has generated greater income than expenditure, Rs 11 crore in 2010-11. Out of this, the institute transferred Rs 4.38 crore to its corpus, thus creating a surplus of Rs 6.83 crore.
"For the first time, the institute achieved an operating surplus in 2011, after fully funding the pension liability of the institute. This was achieved despite increase in the actuarial value of the pension liability by about 60% to Rs 860 million (due to sixth pay commission's recommendations) by the end of 2011," Samir Barua, director, IIM-A, said in the annual report of the institute.
The surplus is a major achievement for IIM-A, which decided not to solicit grants from the Union Ministry of Human Resource Development (MHRD) in 2003. According to Barua, the institute achieved this through prudent management of costs and generation of opportunities.
The institute collected Rs 61.59 crore as fees and other income from long duration programmes and Rs 51.22 crore from management development programmes and projects.
At present, IIM-A's corpus stands at around Rs 55 crore. IIM-A's corpus in 2008-09 was about Rs 44 crore, down from over Rs 51 crore in the previous two years. The corpus had gone down due to the Sixth Pay Commission.
The golden jubilee celebrations included four international conferences, alumni reunions with participation across batches, publication of a series of management books among other activities.
The institute has been tapping its alumni and also plans to enter corporate alliances to raise funds. IIM-A raised a sum of Rs 38 crore from former students by hosting numerous alumni meets on the occasion of its silver jubilee celebrations.
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