Finance Committee

Constitution and Power of Finance Committee as per University Act:

15. (1) The Finance Committee shall consist of the following persons, namely:—

(I) Ex-officio members—

(a) the Vice-Chancellor (Chairperson);

(b) the Secretary to Government, Haryana, Technical Education Department or a nominee not below the rank of Joint Secretory;

(c) the Secretary to Government, Haryana, Finance Department or a nominee not below the rank of Joint Secretary/Additional Director;

(d) the Director, Technical Education Department, Haryana or a nominee no t below the rank of Joint Director/Accounts Officer.

(II) Other members—

(a) two outside members having expertise in finance to be nominated by the Chancellor on the recommendation of the Vice -Chancellor;

(b) two Deans of Faculties to be nominated by the Vice- Chancellor;

(c) Controller of Finance.

(2) The Registrar shall be the Member-Secretary of the Committee.

(3) Nominated members of the Finance Committee shall hold office for a term of two years.

(4) Three members, out of whom at least one member shall be a Government nominee, shall form the quorum.

16. (1) The Finance Committee shall examine the accounts and scrutinize the proposals for expenditure and shall submit the annual budget to the Executive Council for approval. No expenditure in the budget shall be incurred by the University without the prior approval of the Finance Committee which shall fix limits for the total recurring and non-recurring expenditure for the year based on the resources and the income of the University. No expenditure shall be incurred by the University in excess of the limits so fixed. 

(2) It shall examine and recommend the Executive Council the creation' of teaching and other posts.

(3) The annual accounts and the official estimates of the University shall be laid before the Finance Committee for its consideration and comments thereon and thereafter submitted to the Executive Council for approval


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