Section 20 in Karnataka State Open University Act, 1992
20. The Finance Committee.
(1)The Board of Management shall constitute a Finance Committee consisting of not more than five members as follows :-(1)the Vice-Chancellor, ex-officio Chairman;(2)the Secretary, Finance Department or his nominee;(3)the Secretary, Education Department or his nominee;(4)two members nominated from among the members of the Board of Management by the Board of Management;(5)the Finance Officer, ex-officio Member Secretary.(2)The Registrar shall be a permanent invitee to Finance Committee.(3)The powers and functions of the Finance Committee shall be as follows:-(i)scrutinize the annual budget estimates and make its recommendations to the Board of Management;(ii)conduct general examination of the accounts of the University and consider the audit reports and make its recommendations thereon;(iii)examine all proposals of the University involving expenditure for which no provision has been made in the budget or involving expenditure in excess of the amount provided for in the budget; and(iv)such other functions as may be prescribed by the statutes;
