Section 16 in Uka Tarsadia University First Statutes, 2012
16. The Finance Committee: Constitution and Powers.
- (16.1) The Finance Committee shall consist of the following members:(i)The Provost, who shall be the Chairman of the Committee;(ii)One member of the Governing Board to be nominated by the President;(iii)One Dean, by rotation to be nominated by the Provost;(iv)One expert in the field of finance to be nominated by the Governing Board;(v)The Chief Finance and Accounts Officer;(vi)The Registrar shall be the Secretary of the Committee.(16.2) The term of office of the members other than the ex officio Members shall be three years.(16.3) subject to the provisions of the Act the powers of the Finance Committee shall be as follows:(i)To examine the annual account and annual budget estimates of the University and to advise the Board of Management thereon;(ii)To review from time to the financial position of the University;(iii)To make recommendations to the Board of Management, on all financial policy matters of the University;(iv)To make recommendations to the Board of Management all proposals involving raising funds, receipts and expenditure;(v)To provide guidelines for investment of surplus funds;(vi)To make recommendations to the Board of Management on all proposals involving expenditure for which no provision has been made in the budget or for which expenditure in excess of the amount provided in the budget needs to be incurred;(vii)To examine all provisions relating to the revision of pay scales, up- gradation of the scales and those items which are not included in the budget;(viii)To recommend fee structure and periodic revisions thereon;(ix)To exercise such other powers and perform such other functions as may be conferred or imposed upon it by regulations.
