(1)There shall be a finance officer for the University, who shall be appointed by the State Government by notification published in the official Gazette and his remuneration and allowances shall be paid by the University.(2)The Finance Officer shall be responsible for exercising general supervision over the funds of the University and for presenting the budget (annual estimates) and the statement of the accounts to the Executive Council and also for drawing and disbursing funds on behalf of the University.(3)He shall work directly under the control of the Vice-Chancellor.(4)He shall have the right to speak in and otherwise to take part in the proceedings of the Executive Council but shall not be entitled to vote.(5)He shall have duty the duty to exercise general supervision over the funds of the University and advise on financial policy :-(a)to ensure that no expenditure, not authorized in the budget is incurred by the University (otherwise than by way of investment);(b)to disallow proposed expenditure which may contravene the provisions of this Act or the terms of any Statutes or Ordinances;(c)to ensure that no financial irregularity is committed and to take steps to set right any irregularities pointed out during audit;(d)to ensure that the property and investments of the University are duly preserved and managed; and(e)to have the accounts audited regularly.(6)Other powers and functions of the Finance Officer shall be such as may be prescribed.
