(1) The Finance Committee shall consist of:-
(a) the Vice-Chancellor; Chairperson;
(b) Nominee of Principal Secretary, Finance Department, U.P., not below the rank of a Special Secretary; Member
(c) Nominee of Principal Secretary, Technical Education Department, U.P., not below the rank of Special Secretary; Member
(d) the Finance Controller Member Secretary; Member
(e) the Registrar; Member
(2) The Finance Committee shall meet at least four times in a year.
(3) The term of office of members other than ex-officio members shall be three years.
(4) Three members shall form the quorum at any meeting.
(5) The Finance Committee shall advise the Executive Council on matters relating to the administration of property and funds of the University. It shall, having regard to the income and resources of the University, fix limits for the total recurring and non-recurring expenditure for the ensuing financial year and may, for any special reasons, revise during the financial year the limits of expenditure so fixed and the limits so fixed shall normally be adhered to by the Executive Council;
(6) The power and functions of the Finance Committee shall be:-
(a) to examine and scrutinize the annual budget of the University, and make suitable recommendations to Executive Council;
(b) to give its views and make its recommendations to the Executive Council either on the initiative of the Executive Committee or on its own initiative on any financial issues affecting the University;
(c) to explore the possibilities of, and resort to, augmenting the resources for the development of the University;
(d) to take necessary steps to have the University accounts audited by auditors appointed by the Executive Council;
(e) to advise the Executive Council on matters related to the administration of the property and the funds of the University;
(f) to ensure proper implementation of the State Government's orders issued from time to time, in respect of financial matters;
(g) to advise on financial matters referred to it by the Executive Council, Academic Council or any other authority, body or committee or any officer of the University;
(h) to report to the Vice-Chancellor any lapse or irregularity in financial matters which comes to its notice who may take suitable prompt action after assessing the seriousness of the matter or refer it to the Executive Council.
(i) to exercise such other powers and function as may prescribed.