(1) The Finance Committee shall consist of the following persons, namely:-
(a) the Vice-Chancellor Chairperson;
(b) the Secretary to the Government of Himachal Pradesh, Department of Finance or his nominee not below the rank of Special Secretary (Finance) to the Government of Himachal Pradesh.
Member;
(c) the Secretary to the Government of Himachal Pradesh, Department of the Higher Education or his nominee not below the rank of Special Secretary (Higher Education) to the Government of Himachal Pradesh.
Member;
(d) two members of the committee to be nominated by the Chairperson from the Principals of constituent colleges Member;
(e) the Registrar Member; and
(f) the Finance Officer Member Secretary.
(2) The Finance Committee shall ordinarily meet four times in a year preferably before the meeting of the Board of Management.
(3) The meetings of the Finance Committee shall be convened by the Chairperson.
(4) Four members of the Finance Committee shall form a quorum for a meeting.
(5) The Finance Committee shall advise the Board of Management on all financial matters and shall have the powers,-
(a) to examine the Annual Accounts and Budget Estimates of the Cluster University and to advise the Board of Management thereon;
(b) to examine the Annual Audit and Action Taken Report;
22 THE SARDAR VALLABHBHAI PATEL CLUSTER UNIVERSITY, MANDI, HIMACHAL PRADESH (ESTABLISHMENT AND REGULATION) ACT, 2018
(c) to review the financial position of the Cluster University and to make recommendations to the Board of Management on all matters relating to the finances of the Cluster University;
(d) to examine and make recommendations to the Board of Management on all proposals involving expenditure for which no provision has been made in the Budget, or which involves expenditure in excess of the amount provided in the Budget;
(e) to consider all proposals relating to the revision of pay scales, fixation of honorarium to members of various Committees, travelling allowances, fee for various courses to be charged from the students and remuneration to experts, paper setters, examiners, evaluators etc.; and
(f) to exercise such other powers and to perform such other functions as may be prescribed by the Regulations.