Section 28 in Tamil Nadu Dr. M.G.R. Medical University (Chennai) Act, 1987
28. The 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 Health and Family Welfare; and(d)three members nominated by the Governing Council from among its members.(2)If, for any reasons, the member 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 concerned not lower in rank than that of Deputy Secretary to Government to attend such meeting. The officer so deputed shall have the right to take part in the discussions of the Finance 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)The members nominated by the Governing Council under clause (d) of sub-section (1), shall hold office for a period of three years.(5)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 Governing Council for approval.(6)The annual financial estimates of the University prepared by the Finance Officer shall be laid before the Finance Committee for consideration and comments. The said estimates, as modified by the Finance Committee, shall, then, be laid before the Governing Council for consideration. The Governing Council may approve the financial estimates with such modification as it deems fit(7)The Finance Committee shall -(a)meet at least once in three months to examine the accounts and to scrutinize proposal for expenditure;(b)review the financial position of the University, from time to time;(c)make recommendation to the Governing 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 of the amount provided for in the annual financial estimates;(d)prescribe the methods and procedure and forms for maintaining the accounts of the University and Colleges;(e)make recommendation to the Governing Council on all matters relating to the finances of the University; and(f)perform such other functions as may be prescribed by the statutes.
