AUTHORITIES OF THE UNIVERSITY

The Finance Committee

APPLY NOW 2018 Admissions

A. The Finance Committee is the principal financial body of the University to take care of the financial matters. The Composition of the Finance Committee is as under:

  • Nominee of the Foundation Chairperson
  • The Vice-Chancellor
  • The Pro-Vice-Chancellors
  • Two members to be nominated by the Foundation
  • One member nominated by the Executive Council.
  • The Registrar
  • The Treasurer
  • The Finance Officer Member Secretary

The tenure of the members of the Finance Committee, other than of the ex-officio members, shall by three years

B. Functions and Powers of the Finance Committee shall be as follows:

  • The Finance Committee shall prepare the annual estimates of income and expenditure of the university and make allocations thereunder.
  • The Finance Committee shall consider the annual accounts of the University prepared under the direction of the Vice-Chancellor, and its recommendations thereon along with the annual budget, shall be put up to the Executive Council for its consideration and approval.
  • The Finance Committee may make its recommendations to the Executive Council to accept bequests, and donations of property to the University on such terms as it deems proper.
  • The Finance Committee may recommend mechanisms and ways and means to generate resources for the University.
  • The Finance Committee may consider any other matter referred to it by the Court and the Executive Council and make its recommendations thereon.
  • The Finance Committee shall advise the University on any questions affecting its finances.
  • The Finance Committee shall be responsible for the observance of Regulations relating to the maintenance of accounts of the income and expenditure of the University.

C. The tenure of the members of the Finance Committee, other than of the ex-officio members, shall by three years.

D. Meetings

  • The Finance Committee shall meet at least once in each academic session. A notice for the meeting of the Finance Committee shall be given so as to reach the members at least fifteen days in advance of the meeting and the agenda for the meeting shall be sent at least 10 days in advance of the meeting.
  • In the absence of the Chairperson, the Vice-Chancellor shall preside at the meeting.
  • Quorum -One-half of the members of the Finance Committee including the Chairperson shall constitute the quorum at a meeting.
  • Transaction of Business -In arriving at a decision, if voting becomes necessary, it shall be done in a manner to be decided by the Chairperson. In case of a tie, the Chairperson shall have a second casting vote.