(1) The Finance Committee shall consist of the following members, namely:
(i) the Vice-Chancellor of the University shall be the exofficio Chairman of the Committee;
(ii) one member of the Board to be nominated by the President;
(iii) one representative of the Trust;
(iv) one Dean of the University, by rotation, to be nominated by the Vice-Chancellor;
(v) one expert in the field of Finance to be nominated by the President.
(2) The Executive Registrar shall be the non-member Secretary of the Committee.
(3) An out going member shall be eligible for re-nomination for the next term.
(4) The term of office of a member other than the ex-officio member shall be three years.
Finance Committee.
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18. Subject to the other provisions of this Act, the Finance Committee shall exercise the powers and perform the functions mentioned below, namely:
(i) Examine the annual accounts and annual budget estimates of the University and advise the Board thereon;
(ii) Review the financial position of the University from time to time;
(iii) Make recommendations to the Board on all financial policy matters of the University;
(iv) Make recommendations to the Board on all proposals involving raising of funds, receipts and expenditure;
(v) Provide guidelines for investments of surplus funds;
(vi) Make recommendations to the Board on all proposals involving expenditure for which no provision has been made in the budget or for which expenditure in excess of the amount provided in the budget has been or has to be incurred;
(vii) Examine all proposals relating to revision of scales, upgradation of scales and those items which are not included in the budget, before they are placed before the Board;
(viii) Exercise such other powers and perform such other functions as may be conferred or imposed upon it by the Regulations.
Powers and Functions of the Finance Committee.
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