The Finance Officer

(1) The Finance Officer shall be a full-time salaried officer of the University and shall be appointed by the Executive Council on a full-term basis. (2) The Finance Officer shall exercise general supervision over the funds of the University and in regard to its financial policy. He shall be responsible for the preparation of the balance sheet at the end of each financial year. (3) Subjects to the control of the Board, he shall manage the investments of the University and be responsible for preparing and presenting the annual estimates and statements of accounts and for proper maintenance of the funds. (4) Subject to the powers of the Board, the Finance Officer shall be responsible for ensuring that all expenditure is incurred for the purposes for which they are generated. (5) The Finance Officer shall exercise such other powers as may be prescribed in the Statutes and the Ordinances. (6) The officer shall be responsible for the auditing of accounts of the University at least once in every year and at interval of not more than fifteen months and the audit shall be done by Comptroller and Auditor General of India: Provided that the Chancellor may, on the recommendation of the Board in the case of a casual vacancy, may ask the Registrar to perform the duties of Finance Officer.