Finance Committee

(1) The Finance Committee shall consist of the following, namely: (a) Vice-Chancellor; (b) Principal Secretary/Secretary of the Higher Education Department in the State Government or an officer nominated by him, who shall not be below the rank of Additional Secretary; (c) Principal Secretary/Secretary of the Finance Department in the State Government or an officer nominated by him, who shall not be below the rank of Additional Secretary; (d) Registrar; (e) A person nominated by the Executive Council to represent the Executive Council, who has deep experience in financial matters. The person to be selected shall not be a member of the management committee of the University or any affiliated college, self-financed institution or associated college, or a person serving such college; (f) A person nominated by the State Government, who is illustrious in the financial or academic field; (g) Controller of Examinations; (h) 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. It shall fix the total recurring and non-recurring expenditure limit for the subsequent financial year, keeping in mind the income and resources of the University, and for any special reasons, 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 in 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) Unless that proposal having 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 recommendation of the Finance Committee, the matter shall be referred to the Government for decision, the decision of which shall be final.