CONSTITUTION & POWERS OF FINANCE COMMITTEE

Constitution and powers of Finance Committee as per University Act:

The Finance Committee shall consist of the following persons, namely:

  1. Ex-officio members
    • The Vice-Chancellor (Chairperson); 
    • The Additional Chief Secretory to Government, Haryana, Finance Department or his nominee;
    • The Additional Chief Secretary to Government, Haryana, Higher Education Department or his nominee;
    • The Additional Chief Secretary to Government, Haryana, Technical Education Department or his nominee.
  2. Other Members
    • Two outside members having expertise in finance to be nominated by the Chancellor on the recommendation of the Vice-Chancellor;One senior Professor to be nominated by the Vice-Chancellor.
  3. The Registrar shall be the Member-Secretary of the Committee.
  4. Nominated members of the Finance Committee shall hold office for a term of two years.
  5. Five members, out of whom at least two members shall be Government nominees, shall form the quorum.

POWER OF FINANCE COMMITTEE

  1. The Finance Committee shall examine the accounts and scrutinize the proposals for expenditures 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 to 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.