Section 20(5) in The Maharashtra University of Health Sciences Act, 1998
(5)The duties of the Finance and Accounts Officer shall be to-(a)exercise general supervision over the funds of the University, and shall advise the Vice-Chancellor as regards the finances of the University;(b)hold and manage the funds, property and investments, including trust and endowed property, for furthering any of the objects of the University;(c)ensure that the limits fixed by the University for recurring and nonrecurring expenditure for a year are not exceeded, and that all allocations are expended for the purposes for which they are granted or allotted;(d)keep watch on the state of the cash and bank balances and of investments;(e)keep watch on the progress of collection of revenue and advise the Vice-Chancellor on the methods to be employed for collection;(f)have the accounts of the University audited regularly;(g)ensure that the registers of buildings, land, equipment and machinery are maintained up-to-date and that the stock taking of equipments and other consumable materials in all offices, colleges, workshops and stores of the University is conducted regularly;(h)propose to the Vice-Chancellor that explanation be called for unauthorized expenditure or other financial irregularities from any academic members of University;(i)propose to he Registrar that explanation be called from any non-academic member for unauthorized expenditure or irregularities in any particular case, and recommend disciplinary action against the persons at fault;(j)call from any office, centre, laboratory, college, department of the University or University institution, any information and returns as deemed necessary for the proper discharge of the financial responsibilities; and(k)exercise such other powers, perform such other duties, and discharge such other financial functions as are assigned, by the Vice-Chancellor or are prescribed by Ordinances.
