(1) The Finance Officer shall be appointed by the State Government.
(2) The Finance Officer shall, —
(a) present the budget (annual estimates) and the statement of account to the Executive Council and also draw and disburse funds on behalf of the [University] ;
(b) speak in and otherwise take part in the proceedings, pertaining to matters of finance, of the Executive Council except voting;
(c) ensure that no expenditure, not authorized in the budget is incurred by the [University] (otherwise than by way of investment) ;
(d) disallow any proposed expenditure which may contravene the provisions of this Act or regulations.
(e) ensure that no financial irregularity is committed and take steps to set right any irregularities pointed out during audit ;
(f) ensure that the property and investments of the [University] are duly preserved and managed ;
(g) to exercise general supervision over the funds of the [University];
(h) advise in financial matter either suo moto or on his advice being sought ;
(i) collect the incomes, disburse the payments and maintain the accounts of the [University] ;
(j) ensure that the registers of buildings, lands, items of furniture and equipments are maintained upto date and that stock checking of equipment and other consumable material is conducted regularly in the [University];
(k) probe into any unauthorized expenditure and other financial irregularities and suggest to the competent authority, disciplinary action against persons at fault.
(l) perform such other duties in respect of financial matters as may be assigned to him by the Executive Council or the [Vice-Chancellor].
(3) In the event of the post of the Finance Officer remaining vacant for any reason the [Vice-Chancellor] may authorize any officer in the service of the [University] to exercise such powers, functions and the duties of the Finance Officer as the [Vice-Chancellor] deems fit ;