Vidhi Codex

section 19

Finance and Accounts Committee

The Rajasthan Ayurved, Yoga And Naturopathy University, Ajmer Act, 2026
Education202668 sections9 chapters
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Chapter III AUTHORITIES OF THE UNIVERSITY

Statutory text
  1. (1) There shall be a Finance and Accounts Committee consisting of the following, namely:-
    • (a) the Vice-Chancellor-Chairman;
    • (b) the Secretary in charge of the Department of AYUSH or his nominee not below the rank of a Deputy Secretary;
    • (c) the Secretary in charge of the Department of Finance or his nominee not below the rank of a Deputy Secretary;
    • (d) one person, nominated by the Board of Management from amongst its members;
    • (e) one person, nominated by the Academic Council from amongst its members; and
    • (f) the Comptroller – Member-Secretary. Explanation.- For the purpose of clauses (b) and (c), “Secretary in charge” means the Secretary in charge of the Department and includes an Additional Chief Secretary and a Principal Secretary when he is in charge of a department.
  2. (2) The Finance and Accounts Committee shall meet at least four times in a year to examine the accounts, the progress of expenditure and all new proposals involving fresh expenditure in the light of the provision available.
  3. (3) The annual statement of accounts and the financial estimates (budget) of the University, prepared by the Comptroller shall be laid before the Finance and Accounts Committee for consideration and recommendation, and for submission thereafter to the Board of Management for such action as it thinks fit.
  4. (4) The Finance and Accounts Committee shall perform the following additional functions and duties, namely:-
    • (a) to recommend to the Board of Management the limits for the total recurring and non-recurring expenditure for the year, based on the income and resources of the University, including the proceeds of loans for productive work;
    • (b) to recommend to the Board of Management productive investment and management of University assets and resources;
    • (c) to explore the possibilities of, and resort to, augmenting the resources for the development of the University;
    • (d) to advise the Board of Management of matters related to the administration of the property and the funds of the University;
    • (e) to ensure proper implementation of the State Government’s orders issued from time to time, in respect of financial matters;
    • (f) to advise on financial matters referred to it by the Board of Management, Academic Council or any other authority, body or committee or any officer of the University; and
    • (g) to report to the Vice-Chancellor any lapse or irregularity in financial matters which comes to its notice who may take suitable prompt actions after assessing the seriousness of the matter or refer it to the Board of Management.
  5. (5) The other powers and duties of the Finance and Accounts Committee and the procedure at its meetings shall be such as may be prescribed by the Statutes.

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