29. (1) There shall be a Finance Officer for the University, who shall be appointed by notification by the State Government and the salary and allowances thereof shall be paid by the University.
(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 provision of this Act or statutes.
(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 motu 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 up to 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.
(4) The finance Officer shall have access to such records and documents and he may require the production of the such records and documents and the furnishing of such information pertaining to affairs of the University as in his opinion shall be necessary for the discharge of his duties.