Section 12 in Utkal University of Culture Act, 1999
12. The Finance Officer.
(1)The Board shall appoint a person selected from among a panel containing the names of Officers belonging to the Orissa Finance Services, Class-I furnished by the Government or from any other source, as may be provided in the Statutes, as the Finance Officer of the University for such period and on such terms as may be prescribed by the Statutes.(2)The Finance Officer shall:(a)act as the Treasurer of the University and be responsible for the proper investment of the funds and management of the assets of the University;(b)exercise general supervision over operation of all funds;(c)tender advice with regard to financial transactions of the University;(d)present annual financial estimates and statement of accounts;(e)ensure utilisation of the allocations for the programmes, schemes and projects of the University(f)scrutinise the statement of accounts of the constituent colleges or other institutions maintained by the University and submit report thereon to the Vice-Chancellor and the Board;(g)receive all contributions, grants, bequests, endowments and interests on investments on behalf of the University;(h)collect fees, fines, sale proceeds and other amounts of casual income accruable to the University;(i)operate schemes relating to scholarship funds, stipends and fellowship amounts;(j)be responsible for the day-to-day financial transaction and maintenance of accounts thereof;(k)administer such petty cash funds as may be needed;(l)operate the funds contributed by the students for various purposes;(m)prepare pay and allowance bills of officers, teachers and other employees of the University and draw and disburse the amounts thereof;(n)scrutinise other bills and, if they are in order, ensure prompt payment.(o)prepare utilisation certificates for funds received from Government and other funding agencies and get them promptly transmitted to the relevant quartets through the Registrar;(p)develop and operate an internal audit system and ensure that all the registers, records and documents are properly preserved for presentation before the audit;(q)place statement of accounts at such intervals a6 specified by the Board and the Vice-Chancellor;(r)bring serious irregularities, if any, in financial transactions of the University to the notice of the Board through the Vice-Chancellor;(s)render such assistance to the Registrar as may be required in management of assets and investments and scrutiny of the contracts and agreements; and(t)perform such other functions as may, from time to time, be assigned to him by the Vice-Chancellor.(3)The Finance Officer shall be answerable to the Vice-Chancellor and the authorities of the University for effective financial management and augmentation of resources of the University.
