Section 26(1) in Indian Institute of Teacher Education, Gujarat Act, 2010
(1)The Finance Committee shall have the following powers and functions, namely :-(a)to examine and scrutinize the annual budget of the University and to make recommendations on financial matters to the Executive Council;(b)to consider all proposals for new expenditure and to make recommendations to the executive council;(c)to consider periodical statement of accounts and to review the finances of the University from time to time, to consider annual accounts and balance sheet of the University and audited statements and audit reports, and to make recommendations thereon to the Executive Council;(d)to advise and to make recommendations to the Executive Council on any financial matters affecting the University, either on its own motion or on reference from the Executive Council.
