Section 8 in Uka Tarsadia University First Statutes, 2012
8. The Chief Finance and Accounts Officer: Appointment and Power.
- (8.1) The appointment of the Chief Finance and Accounts Officer shall be made in such manner as may be prescribed by the Statutes.(a)The Board of Management shall constitute a selection committee for the appointment of the Chief Finance and Accounts Officer.(b)The Chief Finance and Accounts Officer shall be appointed by the Board of Management on the recommendation of the selection committee constituted under clause ((8.1) a) and s/he shall be a whole time salaried officer of the University and shall work under the control of the Provost.(c)The emoluments and other conditions of service of the Chief Finance and Accounts Officer shall be prescribed by the Ordinances.(d)When the office of the Chief Finance and Accounts Officer is vacant or when the Chief Finance and Accounts Officer is, by reason of ill health, absence or any other cause, unable to perform his/her functions as the Chief Finance and Accounts Officer, his/her functions shall be performed by such person as the Provost may appoint for the purpose.(e)The Chief Finance and Accounts Officer shall-i. Exercise general supervision over the funds of the University and advise it as regards its financial policies; andii. Perform such other financial functions as may be assigned to him by the Board of Management or as may be prescribed by the Statutes or the Ordinances.Provided that the s/he shall not incur any expenditure or make any investment exceeding one lakh rupees without the prior approval of the Board of Management.(f)Subject to the control of the Provost and the Board of Management, the Chief Finance and Accounts Officer shall-i. Hold and manage the properties and investments of the University and immovable properties, for fulfilling any of the objects of the University,ii. See that the limits fixed by the Finance Committee for recurring and nonrecurring expenditure for a year are not exceeded and the money is expended or spent for the purposes for which it was granted or allotted;iii. Be responsible for the preparation of the annual accounts and the budget of the University and for their presentation to the Board of Management after they have been considered by the Finance Committee,iv. Keep a constant Watch on the cash and bank balances and investments;v. Watch the progress of collection of revenue and advise on the methods of collection employed;vi. Ensure that the registers of properties of the University are maintained properly and that stock checking is conducted of the equipment and other material in the offices and branches of the University including colleges and the institutions maintained by the University;vii. Bring to the notice of the Provost any unauthorized expenditure or any other financial irregularity and suggest appropriate action against person at fault; andviii. Call from any office of the University, including colleges and institutions maintained by the University, any information or report that he may consider necessary for the performance of his functions.(g)Any receipt given by the Chief Finance and Accounts Officer or by the person or persons duly authorized in this behalf by the Board of Management shall be a sufficient discharge for payment of moneys to the University.
