(1) The Vice-Chancellor shall have the authority to approve cash advances to the officials designated for this purpose by the University.
(2) The officers to whom cash advances are issued shall be held personally accountable and financially liable for the proper management and safekeeping of cash so advanced and must be in a position to account for these advances at all times and they shall submit timely accounts for the same, preferably within one month.
22 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(3) The Finance Officer shall ensure that all advances are periodically adjusted and reconciled.
(4) Advances for supply of goods and services to parties or suppliers may be considered for approval by the Vice- Chancellor against proper securities to the satisfaction of the University, as referred to in Regulation 24.
(5) An imprest of up to rupees twenty-five thousand each may be created for urgent day to day needs and requirements of the University and shall be operated only by designated Drawing and Disbursing Officer [DDO].
Investments
13. The University through the Vice-Chancellor may invest University funds in instruments as per Government of India guidelines in this regard.
Writing off of stores or losses