Section 15 in Tamil Nadu Dr. M.G.R. Medical University (Chennai) Act, 1987
15. Powers, functions and duties of Finance Officer.
(1)The Finance Officer shall, -(a)exercise general supervision over the funds of the University and shall advice the University as regards its financial policy; and(b)exercise such other powers and perform such other financial functions, as may be assigned to him by the Governing Council, or as may be prescribed by the statutes or ordinances :Provided that the Finance Officer shall not incur any expenditure or make any investment exceeding such amount as may be prescribed by the statutes or ordinances except with the previous approval of the Governing Council.(2)Subject to the control of the Governing Council, the Finance Officer shall, -(a)ensure that the limits fixed by the Governing Council for recurring and non recurring expenditure for a year are not exceeded and that all moneys expended for the purposes for which they are granted or allotted;(b)be responsible for the preparation of annual accounts, financial estimates and the budget of the University and for their presentation to the Finance Committee and the Governing Council;(c)keep a constant watch on the cash and bank balances and of investments;(d)watch the progress of the collection of revenue and advice on the methods of collection employed;(e)ensure that the registers of buildings, land, furniture and equipment are maintained up-to-date, and that stock checking is conducted in respect of equipment and other consumable materials in all offices, centres, laboratories and colleges maintained by the University;(f)bring to the notice of the Vice-Chancellor any unauthorised expenditure or other financial irregularity and suggest appropriate action, to be taken against persons at fault; and(g)call from any office, centre, laboratory and college maintained by the University, any information or returns as he may consider necessary for the performances of his functions and discharge of his duties.
