24. (1) There shall be a Finance Committee consisting of the following members namely:-
(i) the Vice Chancellor;
(ii) one member nominated by the General Council from amongst its members;
(iii) one member nominated by the Executive Council from amongst its members;
(iv) the Secretary-in-charge, Department of Higher Education, Uttar Pradesh or his nominee not below the rank of Deputy Director;
(v) the Secretary-in-charge of Handicapped Welfare Department Government Uttar Pradesh or his nominee not below the rank of Deputy Director;
(vi) the Secretary-in-charge, Finance Department, Uttar Pradesh or his nominee not below the rank of Deputy Director;
(vii) the Registrar;
(viii) the Finance Officer-Member Secretary.
(2) The nominated members of the Finance Committee shall hold office for a period of two years.
(3) The Finance Committee shall have the following powers, duties and functions namely:-
(i) to examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Executive Council;
(ii) to consider all proposals for new expenditure and to make recommendations to the Executive Council;
(iii) to consider the periodical statements of accounts and to review the finances of the University from time to time and to consider re-appropriation statements and audit reports to make recommendations to the Executive Council;
(iv) to give its views and to make recommendations to the Executive Council on any financial matter affecting the University either on its own initiative or on reference from the Executive Council or the Vice Chancellor.
(4) The Finance Committee shall meet once in every six months, the quorum shall be four members of the finance Committee Provided that the third quorum shall not complete without the Secretary to the Government of Uttar Pradesh in finance Department or an officer not below the rank of Deputy Director nominated by him.
(5) The Vice Chancellor shall preside over the meetings of the Finance Committee, and in his absence, the members present shall elect a person from amongst themselves to preside over the meeting.
(6) Unless a proposal having financial implication has been recommended by the Finance Committee, the Executive Council shall not take decision thereon, as if the Executive Council disagrees with the recommendations of the Finance Committee, it shall return the proposal to the Finance Committee with the reason for the disagreement and if the Executive Council again disagrees with the recommendations of the Finance Committee then the decision of the Executive Council shall be final.