(1) The Financial Adviser shall be a whole time officer. He shall be appointed by the Chancellor either on deputation or by re-employment from amongst the officers of the Indian Audit and Accounts Service or from any Accounts Service of Government of India or Government of Jharkhand.
(2) The terms and conditions of service of the Financial Adviser shall be determined by the Chancellor in consultation with the State Government and he shall ordinarily hold the post for three years.
(3) The Financial Adviser will work under the administrative control of the Vice Chancellor.
(4) In all proposals having financial implication the advice of Financial Adviser shall be mandatory.
(5) Preparation of the University Budget, maintenance of accounts, audit of accounts from time to time, compliance of audit objections, timely receipt of grants from the State Government in accordance with the approved budget and also grants from other sources, arrangements for keeping the same properly and timely submission of utilization certificate of the grants received shall be the responsibility of the Financial Adviser.
(6) It shall also be the duty of the Financial Adviser to see that all financial matters of the University are dealt with in accordance with the Act and regulations.