The Finance Committee is a principal body of the Institution chiefly responsible for identifying the major sources of income, prioritization of the budgetary provisions of the available fund, financial planning, financial reporting, monitoring the in-flow and out-flow of funds, monitoring of internal fund transfers, framing accountability policies and instituting appropriate accounting and auditing procedures.
1.Budget estimates relating to the grant received/receivable from UGC, and income from fees, etc. collected for the activities to undertake the scheme of autonomy
2.Audited accounts for the above.
3.To recommend fixation/revision of fees and other charges payable by the students to the College Governing Council.
4.See that expenses incurred have budgetary provision recommend for approval financial proposals made by other committees with or without modification
5.Check that necessary formalities have been observed in incurring expenses
6.Check process bills placed for payment
7.Consider proposal for enhancement of wage/allowance or engagement of temporary staff
The primary task of the Finance Committee is to afford a comprehensive financial overview of the Institution. The annual accounts and financial estimates of the Institute shall be submitted to the Finance Committee for examination and subsequently to the Governing Body along with its comments for approval. It is mandatory that, every financial dealing of the Institution is to be processed through the Committee and no expenditure should be incurred without the prior allocation and sanction of fund by the Committee. It shall prepare income and expenditure statements of the college.
1.To ensure proper allocation of fund
2.To ensure proper utilization of fund.