Functions of the Finance Committee.

(1) The Chief account and Finance Officer shall get the annual budget of the University prepared along with the requisite documents and submit the same to the Finance Committee for its approval. The Chief account and Finance Officer shall also get the accounts of the annual income and expenditure of the University prepared and get the same audited from the Chartered Accountant, so appointed by the Finance Committee in this regard. (2) The budget approved by the Finance Committee, along with the note with regard to the audit of income and expenditure of the University, referred to in sub-section (1), shall be placed before the Chancellor for approval. (3) The Finance Committee shall tender advice to the Chancellor on financial matters of the University.