Section 31 in Mother Teresa Women's University Act, 1984
31. Finance Committee:-
(1)The Finance Committee shall consist of the following members, namely:-(a)The Vice-Chancellor(b)The Secretary to Government in-charge of Finance;(c)The Secretary to Government in-charge of Education; and(d)The members nominated by the Executive Council from among its members whom one shall be a Senior Fellow and one shall be a person nominated to the Executive Council by the Chancellor.(2)If for any reason the officer referred to in clause (b) or clause (c) of sub-section (1) is unable to attend any meeting of the Finance Committee, he may depute any officer of his Department no lower in rank than of a Deputy Secretary to Government to attend such meeting. The officer so deputed shall have the right to take part in the discussion of the Committee and shall have the right to vote.(3)The Vice-Chancellor shall be the ex-officio Chairman and the Finance Officer shall be the ex-officio Secretary of the Finance Committee.(4)All members of the Finance Committee, other than ex-officio members, shall hold office for a period of three years.(5)The Finance Committee shall meet at least twice in every year to examine the accounts and to scrutinize proposals for expenditure.(6)The annual accounts of the University prepared by the Finance Officer shall be laid before the Finance Committee for consideration and comments and thereafter submitted to the Executive Council for approval.(7)The finance Committee shall recommend limit for the total recurring expenditure and the total non- recurring expenditure or the year base on the income and resources of the University, which in the case of productive works may include the proceeds of loans.(8)The Finance Committee shall –(a)review the financial position of the University from time to time;(b)make recommendations to the Executive Council on every proposal involving investment or expenditure for which no provision has been made in the annual financial estimates or which involves expenditure in excess if the amount provided for in the annual financial estimates ;(c)prescribe the methods and procedure and forms maintaining the accounts of the University;(d)make recommendation to the Executive Council on all matters relating to the finances of the University; and(e)perform such other functions as may be prescribed.(9)The financial estimates of the University prepared the Finance Officer shall be laid before the Finance Committee for consideration and comments. The saidestimates as modified by the Finance Committee shall then be laid before the Executive council for consideration. The Executive Council may accept the modifications made by the Finance Committee.Chapter VI-STATUTES
