(1) The Finance Committee shall consist of the following persons, namely:—
(4) Finance Committee.
(a) The Vice-Chancellor Chairperson;
(b) The Secretary to the Government of Himachal Pradesh, Department of Finance or his nominee not below the rank of Special Secretary (Finance) to the Government of Himachal Pradesh;
Member;
(c) The Secretary to the Government of Himachal Pradesh, Department of Technical Education, Vocational and Industrial Training or his nominee not below the rank of Special Secretary (Technical Education) to the Government of Himachal Pradesh;
Member;
(d) Two members of the Board to be nominated by the Chairperson of the Board Member; and
(e) The Finance Officer shall be the exofficio Member-Secretary of the Finance Member Secretary
(2) The Finance Committee shall ordinarily meet four times in a year preferably before the meeting of the Board.
(3) The meetings of the Finance Committee shall be convened by the Chairperson.
(4) Three members of the Finance Committee shall form a quorum for a meeting of the Finance Committee.
(5) The Finance Committee shall advise the Board on all financial matters and shall have the powers,—
(a) to examine the Annual Accounts and Budget Estimates of the University and to advise the Board thereon;
(b) to examine the Annual Audit and Action Taken Reports;
(c) to review the financial position of the University and to make recommendations to the Board on all matters relating to the finances of the University;
(d) to examine and make recommendations to the Board on all proposals involving expenditure for which no provision has been made in the Budget, or which involves expenditure in excess of the amount provided in the Budget;
(e) to consider all proposals relating to the revision of pay scales, fixation of honorarium to members of various Committees, travelling allowance, fee for various courses to be charged from the Students and remuneration to experts, paper setters, examiners, evaluators, etc.; and
(f) to exercise such other powers and perform such other functions as may be conferred or imposed upon it by the Regulations.