Finance Committee, its constitution, meetings and powers.

§34

Summary

(1) The Finance Committee shall consist of- (a) the Vice-Chancellor, ex officio Chairman; (b) the Director of Technical Education or his representative, not below the rank of Joint Director; (c) one representative of the All India Council of Technical Education; (d) four representatives of the Regional centres, one from each Regional centre, to be nominated by the Vice-Chancellor. (e) three representatives of the Sub-centres to be nominated by the Vice-Chancellor by rotation. (f) two members from amongst Dean of Research and Development and Deans of Faculties, to be nominated by the Academic Council; (g) two members, to be nominated by the Executive Council from amongst its member, one of whom shall be the nominee of the Chancellor on the Executive Council; (h) one person nominated by the State Government; and (i) the Registrar. (2) The Finance Officer shall act as the Secretary of the Finance Committee. (3) The quorum at the meeting of the Finance Committee shall be four members. (4) All members of the Finance Committee, other than ex officio members, shall hold office for a term of three years. (5) The Finance Committee shall meet at least thrice in a year to examine the accounts, the progress of expenditure and all new proposals involving fresh expenditure in the light of the budgetary provisions available. (6) The financial estimates of the University prepared by the Finance Officer shall be laid before the Finance Committee for consideration and recommendations and for submission thereafter to the Executive Council for approval. (7) The Finance Committee shall scrutinize the annual accounts to satisfy itself that the moneys shown as having been disbursed were properly available for the purposes for which they were spent, and that the expenditure incurred was in accordance with the provisions of this Act, the Statutes or the Ordinances. The Finance Committee shall submit its report to the Executive Council from time to time and suggest any action to be taken thereon regarding any lapses or irregularities which come to its notice and thereupon, the Executive Council shall take such action as it thinks necessary. (8) The Finance Committee shall recommend to the Executive Council the limits for the total recurring and non-recurring expenditure for the year, based on the income and resources of the University, including the proceeds of loans given for productive works. (9) The Finance Committee shall take necessary steps to have the University accounts audited by auditors appointed by the Executive Council. (10) All proposals relating to creation of posts, revision and upgradation of pay-scales and those items which have not been included in the budget would be examined by the Finance Committee before they are considered by the Executive Council. (11) The powers and duties of the Finance Committee and procedure at its meeting shall be such as may be prescribed by the Statutes.

(1) The Finance Committee shall consist of- (a) the Vice-Chancellor, ex officio Chairman; (b) the Director of Technical Education or his representative, not below the rank of Joint Director; (c) one representative of the All India Council of Technical Education; (d) four representatives of the Regional centres, one from each Regional centre, to be nominated by the Vice-Chancellor. (e) three representatives of the Sub-centres to be nominated by the Vice-Chancellor by rotation. (f) two members from amongst Dean of Research and Development and Deans of Faculties, to be nominated by the Academic Council; (g) two members, to be nominated by the Executive Council from amongst its member, one of whom shall be the nominee of the Chancellor on the Executive Council; (h) one person nominated by the State Government; and (i) the Registrar. (2) The Finance Officer shall act as the Secretary of the Finance Committee. (3) The quorum at the meeting of the Finance Committee shall be four members. (4) All members of the Finance Committee, other than ex officio members, shall hold office for a term of three years. (5) The Finance Committee shall meet at least thrice in a year to examine the accounts, the progress of expenditure and all new proposals involving fresh expenditure in the light of the budgetary provisions available. (6) The financial estimates of the University prepared by the Finance Officer shall be laid before the Finance Committee for consideration and recommendations and for submission thereafter to the Executive Council for approval. (7) The Finance Committee shall scrutinize the annual accounts to satisfy itself that the moneys shown as having been disbursed were properly available for the purposes for which they were spent, and that the expenditure incurred was in accordance with the provisions of this Act, the Statutes or the Ordinances. The Finance Committee shall submit its report to the Executive Council from time to time and suggest any action to be taken thereon regarding any lapses or irregularities which come to its notice and thereupon, the Executive Council shall take such action as it thinks necessary. (8) The Finance Committee shall recommend to the Executive Council the limits for the total recurring and non-recurring expenditure for the year, based on the income and resources of the University, including the proceeds of loans given for productive works. (9) The Finance Committee shall take necessary steps to have the University accounts audited by auditors appointed by the Executive Council. (10) All proposals relating to creation of posts, revision and upgradation of pay-scales and those items which have not been included in the budget would be examined by the Finance Committee before they are considered by the Executive Council. (11) The powers and duties of the Finance Committee and procedure at its meeting shall be such as may be prescribed by the Statutes.

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