The Finance Officer (Section 21)

(1) The Finance Officer shall be a whole time salaried officer of the University and he shall be appointed by the Chancellor on recommendation of a Selection Committee consisting of the following:- a) The Vice Chancellor-Chairman b) The Pro Chancellor; c) One nominee of the Chancellor; d) One member of the Board of Management nominated by Chancellor; and e) The Registrar – Ex-officio Secretary (2) The qualifications for appointment to the post of Finance Officer shall be a Post Graduate degree, preferably in Commerce, Economics or Financial Management or Chartered Accountant or equivalent, having a minimum of ten years of work experience at the level of Deputy/Assistant Finance Officer preferably in a University or an Educational Institution of repute. (3) The Finance Officer shall work directly under the supervision, direction and control of the Vice Chancellor. (4) The eligibility criteria, emoluments and other terms and conditions of service of the Finance Officer shall be as laid down in the ordinance. (5) The term of office of the Finance Officer shall be for a period of three years, renewable for additional term(s) till the attainment of the age of superannuation, i.e., 65 years provided that in exceptional circumstances the Board of Management may extend the term of Finance Officer beyond 65 years. (6) The Finance Officer shall be Member Secretary of the Committees constituted by the Finance Committee. (7) Subject to provisions of the Statutes and control of the Vice Chancellor, the Finance Officer shall have the following powers and duties, namely- (a) To prepare and maintain the minutes of the meeting of the Finance Committee and committees constituted by the Finance Committee. (b) To take part in the proceedings of the other authorities of the University and bodies constituted by the Authorities on matters which have financial implications, but he shall not be entitled to vote. (c) To maintain proper accounts and other relevant records of all the funds/receipts/transactions received by the University. (d) To prepare the Annual Budget and Annual Statement of Accounts and place the same along with the Audit Reports before the concerned Authorities of the University. (e) To supervise the funds of the University. (f) To advise the University in any financial matter either suo moto or on his advice being sought. (g) To maintain records of the funds, properties, investments ,endowed properties and trust. (h) To ensure that the limits fixed in the Annual Budget of the University for recurring and non – recurring expenditure are not exceeded and that all allocations are utilized for the purposes for which they are granted. (i) To monitor cash flow, bank balances and investments. (j) To monitor the progress of revenue collection and advise the University on methods to be employed for collection. (k) To ensure that internal and statutory audits of the accounts of the University are conducted as prescribed. (l) To collect the income, disburse the payments and maintain the accounts of the University. (m) To ensure that registers for all capital and fixed assets are prepared and maintained on a regular basis. (n) To ensure that physical verification of all fixed assets and consumables is carried out at regular intervals. (o) To propose to the Vice Chancellor that explanation be called for unauthorized expenditure or other financial irregularities, if any, from Committee or individual of the University and recommend appropriate disciplinary action. (p) To call from constituent colleges/schools, department, office or center of the University, for any information and return that he thinks is required for discharge of his financial responsibilities; (q) To superintend the task of all subordinate employees and to distribute work among them with the approval of the Vice Chancellor. (r) To exercise disciplinary control over all employees in the Audit and Finance Department of the University. (s) To exercise such other powers and perform such other duties as assigned to him by the Chancellor, Vice Chancellor and other Authorities of the University from time to time.