3[(1) The Finance Officer shall be a full time officer of the University and shall be appointed for a period of four years from the date on which he enters upon his office or till he completes the age of fifty-six years, whichever is earlier and on such terms and conditions as may be prescribed.
(1A) The person appointed as Finance Officer shall be eligible for re-appointment for one more period subject to the provisions in sub-section (1).]
(2) The Finance Officer shall manage the funds and investments of the University and shall advice on matters of financial policy.
(3) The Finance Officer shall be responsible to the Vice-Chancellor in the
1. Substituted by Act 15 of 2019
2. Ibid
3. Ibid 26 preparation of the annual budget, statement of accounts and other financial reports as may be called for from time to time.
(4) The Finance Officer shall cause the timely audit of the University accounts in the manner prescribed.
(5) The Finance Officer shall be responsible to the Vice-Chancellor in ensuring that no expenditure other than those authorized in the budget is incurred by the University and shall disallow such expenditure not authorized by the budget.
(6) The finance officer shall be responsible for the revision of the budget when such revision is required, provided that the budget shall not be revised more than two times in a financial year.