Section 27 in Gujarat University of Transplantation Sciences Act, 2015
27. Powers and functions of Finance Committee.
- Subject to the other provisions of this Act, the Finance Committee shall exercise the following powers and perform the following functions, namely:-(i)to examine the annual accounts and annual budget estimates of the University and to advise the Board thereon;(ii)to review from time to time the financial position of the University;(iii)to make recommendations to the Board of Governors on all financial policy matters of the University;(iv)to make recommendations to the Board of Governors on all proposals involving raising of funds, receipts and expenditure;(v)to provide guidelines for investment of surplus funds;(vi)to make recommendations to the Board of Governors on proposals involving expenditure for which no provision has been made in the budget or for which expenditure in excess of the amount provided in the budget needs to be incurred;(vii)to examine proposals relating to the revision of pay scales, up-gradation of the scales and those items which are not included in the budget, prior to placing before the Board of Governors;(viii)to open accounts in any scheduled bank, operate such accounts, to give instructions to the bank and to provide for the opening and operation of such accounts;(ix)to operate Endowment Fund, General Fund and Development Fund;(x)to approve the expenditure of the University to the extent and manner as may be prescribed; and(xi)to exercise such other powers and perform such other functions as may be conferred or imposed upon it by the regulations.
