Powers and functions of Finance Committee.

Subject to the other provisions of this Act, the Finance Committee shall exercise the following powers and perform the following functions, namely:- (i) to examine the annual accounts and annual budget estimates of the University and advise the Board thereon; (ii) to review the financial position of the University from time to time; (iii) to make recommendations to the Board on all financial policy matters of the University; (iv) to make recommendations to the Board on all proposals involving raising of funds, receipts and expenditure; (v) to provide guidelines for investment of surplus funds; (vi) to make recommendations to the Board on all proposals involving expenditure for which no provision has been made in the budget or for which expenditure in excess of the amount provided in the budget has been incurred; (vii) to examine all proposals relating to revision of scale, upgradation of the scale and those items which are not included in the budget, before they are placed before the Board; and (viii) to exercise such other powers and perform such other functions as may be conferred or imposed upon it by the Regulations.