Section 47(3) in Bihar State Universities (Patna, University of Bihar, Bhagalpur and Ranchi) Act, 1960
(3)The Finance Committee shall -(a)Advise the University on any question affecting its finances ;(b)Prepare the annual estimates of income and expenditure of the University including the estimates of the departments of the University and of the colleges maintained by it ;(c)Subject to Statutes, have power to scrutinise the estimates of the colleges ;(d)Subject to Statutes have power to scrutinise every item of new expenditure not provided in the budget estimates of the University and the colleges ;(e)Be responsible for the strict observance of the Statutes relating to the maintenance of accounts of income and expenditure of the University ; and(f)Discharge such other functions of financial nature as may, from time to time, be prescribed by the Statutes or entrusted to it by the Senate or the Syndicate.
