Finance Committee

(1) the Kuladhipati shall constitute a Finance Committee for such University, consisting of the following members, namely:- (one) Kulpati of the University-Chairman; (two) Registrar of the University, Member secretary: (three) Dean of faculties: (four) Principal Secretary/Secretary, Public relation or his nominee, not below the rank of Deputy Secretary. (five) Principal Secretary/Secretary, Finance, or his nominee, not below the rank of Deputy Secretary. (six) Principal Secretary/Secretary, Higher Education, or his nominee, not below the rank of Deputy Secretary. (2) The Finance Committee shall control the finances of the University. (3) Subject to the provisions of this Act, Statute, Ordinance and Regulation made there under, the Finance Committee shall exercise the powers and perform the functions as under :- (a) review the income and expenditure of the University ; (b) prepare annual financial estimates of the University before the commencement of the financial year and place it before the Executive Council for approval, and to advise amendment therein from time to time. (c) sanction proposals and take decisions on the income and expenditure or the University. (d) get the annual accounts and the annual audit of the University completed in time and in light of the reports, order, appropriate directions. (4) four members shall form the quorum, out of which the presence of Kulpati and one member either from clause (five) or (six) of subsection (1) shall be essential in the committee.