(1) There shall be a Finance Committee constituted by the Executive Council consisting of the following members, namely:-
(a) the Vice Chancellor- Chairperson
(b) the Secretary to the Government incharge of Finance Department or his nominee not below the rank of Deputy Secretary.
(c) The Secretary to Government incharge of Rural Development and Panchayat Raj Department or his nominee not below the rank of a Deputy Secretary.
(d) two members nominated by the Vice Chancellor from amongst the members of Executive Council.
(e) the Registrar;
(f) The Director, Training, Publication and Supervision of all Schools.
(g) Director, Centre for Research, Innovation and Evaluation.
(h) the Finance Officer shall be the member secretary
(2) The members of the Finance Committee other than the Vice Chancellor and ex-officio members, shall hold office for a term of three years.
(3) The functions and duties of the Finance Committee shall be as follows, namely:-
(a) to examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Executive Council;
(b) to consider all proposals for new expenditure and to make recommendations to the Executive Council;
(c) to consider the periodical statements of the 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 Executive Council
(d) to give its views and to make recommendations to the Executive Council on any financial question affecting the University either on its own initiative or on reference from the Executive Council or the Vice Chancellor;
(e) any other function assigned to it by the Regulations framed under the Ordinance.
(4) The Finance Committee shall meet atleast twice every year. Three members of the Finance Committee shall form the quorum.
(5) The Vice Chancellor shall preside over the meetings of the Finance Committee. In case of difference of opinion among the members, the decision of the Chairman shall prevail.