Constitution of Finance Committee

(1) (a) Vice-Chancellor; (b) Finance Secretary to the State Government or his representative, who shall not be below the rank of Joint Secretary; (c) Registrar; (d) One such person nominated by the Executive Council to represent the Executive Council, who possesses profound experience of financial matters. The person to be elected shall not be a member of the management committee of the university or any affiliated college, self-financed institute or associated college, or a person serving such a college; (e) A person nominated by the State Government, who is of repute in the field of finance or education; (f) Controller of Examinations; (g) Finance Officer, who shall also be the secretary of the committee. (2) The Finance Committee shall advise the Executive Council on matters related to the administration of the property and funds of the University. Keeping in view the income and resources of the University, it shall fix the limit of total recurring and non-recurring expenditure for the succeeding financial year and for any special reasons, it may revise such fixed expenditure limit during the financial year and such fixed limit shall be binding on the Executive Council: Provided that the provisions of this sub-section shall not apply to the powers vested in the Vice-Chancellor under sub-section (7) of section 12 and the additional expenses incurred shall be met by saving from other items of the budget. (3) The Finance Committee shall have such other powers and duties as may be conferred or imposed upon it by this Act or the Statutes. (4) Until such proposal with financial implications is recommended by the Finance Committee, the Executive Council shall not take a decision on it and if the Executive Council disagrees with the recommendations of the Finance Committee, it shall return the proposal to the Finance Committee with the reasons for disagreement and if the Executive Council again disagrees with the Finance Committee's recommendation, the matter shall be referred to the Government for decision, which shall be final.