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State of Chattisgarh - Section

Section 27 in Ayush and Health Sciences University of Chhattisgarh Act, 2008

27. Finance and Accounts Committees.

(1)There shall be a Finance and Accounts Committee consisting of the following namely :-
(a) The Vice-chancellor : Chairman
(b) Secretary, In charge of Health and FamilyWelfare Department of the State Government or his nominee notbelow the rank of Joint Secretary : Member
(c) Secretary, In charge of Finance Department ofthe State Government or his nominee not below the rank of JointSecretary : Member
(d) One person, nominated by the Board of Managementfrom amongst its members : Member
(e) One person nominated by the Academic Councilfrom amongst its members : Member
(f) The Registrar of the university : Member
(g) The Finance and Accounts Officer. : Member-Secretary
(2)The Committee shall meet at least four times a year to examine the accounts, the progress of expenditure and all new proposals involving fresh expenditure in the light of the provision available.
(3)The annual Statement of accounts and the financial estimates (budget) of the university, prepared by the Finance and Accounts Officer, shall be laid before the Finance and Accounts Committee for consideration and recommendation and for submission thereafter to the Board of Management for such action as it thinks fit.
(4)The committee shall perform the following additional functions and discharge duties, namely :-
(a)to recommend to the Board of Management the limits for the total recurring and non-recurring expenditure for the year, based on the income and resources of the university including the proceeds of loans for productive work;
(b)to recommend to the Board of management productive investment and management of university assets and resources;
(c)to explore the possibilities of, and resort to augmenting the resources for the development of the university;
(d)to take necessary steps to have the university accounts audited by auditors appointed by the Board of Management;
(e)to advise the Board of Management of matter related to the proper administration of the funds of the university;
(f)to ensure proper implementation of the State Governments orders issued from time to time in respect of financial matters;
(g)to advise on financial matters referred to it by the Board of Management, Academic Council or any other authority, body or committee or any officer of the University;
(h)to report to the Vice-chancellor any lapse or irregularity in financial matters which comes to its notice who may take suitable prompt actions after assessing the seriousness of the matter or refer it to the Board of Management;
(5)The other powers and duties of the committee and the procedure at its meetings shall be such as may be prescribed by the statutes.
(6)The annual accounts of the university shall be open for audit by the auditors appointed by the State Government.