The Finance Committee present the financial implications and the audit report to the Governing Body/Management committee. It also serves as an advisory team, which would offer sagacious suggestions to the Governing Body to use the funds with discretion.
- To ensure proper utilization of fund
- To examine and scrutinize the annual budget of the Institution and to make recommendations
on financial matters to the Board of Management
- To consider all proposals for new expenditure and to make recommendations
- To consider the periodical statements of accounts and to review the finances of the
University from time to time and to consider re-appropriation statements and audit reports
and to make recommendations to the Board of Management
- To give its views and to make recommendations to the Executive Council on any financial
question affecting the Institution either on its own initiative or on reference from the Board
of Management or the Director.
- The Finance Committee shall meet at least, twice in every year. Three members of the
Finance Committee shall form the quorum.
- The Director shall preside over the meetings of the Finance Committee, and in his absence, a
member elected at the meeting shall preside. In case of deference of opinion among the
members, the opinion of the majority of the members present shall prevail. The chairperson
will have a casting vote.
- The constitution, powers and functions of the other authorities which may be declared by the
Statutes to be the authorities of the Institution, shall be such as may be prescribed.
- Budget estimates relating the income from fees, etc. collected for the activities to undertake
the scheme of autonomy
- Audited accounts for the above.
- To recommend fixation/revision of fees and other charges payable by the students to the
College Governing Council.
- See that expenses incurred have budgetary provision recommend for approval financial
proposals made by other committees with or without modification
- Check that necessary formalities have been observed in incurring expenses
- Check process bills placed for payment
- Consider proposal for enhancement of wage/allowance or engagement of temporary staff
|Dr.Sr. Therese SIC