Section 12(2) in Majuli University of Culture Act, 2017
(2)The Finance and Accounts Officer shall, -(a)act as the Treasurer of the University and be responsible for the proper investment of the funds and managements of the assets of the University;(b)exercise general supervision over operation of all funds;(c)tender advice with regard to financial transactions of the University;(d)present annual financial estimates and statement of accounts;(e)ensure utilization of the allocations for the programmed schemes and projects of the University;(f)scrutinize the statement of accounts of the constituent colleges or other institutions maintained by the University and submit report thereon to the Vice-Chancellor and the Board;(g)receive all contributions, grants, bequests, endowments and interests on investments on behalf of the University;(h)collect fees, fines, sale proceeds and other amounts of casual income accruable to the University;(i)operate schemes relating to scholarship funds, stipends and fellowship amounts;(j)be responsible for the day-to-day financial transactions and maintenance of accounts thereof;(k)administer such petty cash funds as may be needed;(l)operate the funds contributed by the students for various purposes;(m)prepare pay and allowance bills of officers, teachers, and other employees of the University and draw and disburse the amounts thereof;(n)scrutinize other bills and, if they are in order, ensure prompt payment;(o)prepare utilization certificates for funds received from Government and other funding agencies and get them promptly transmitted to the relevant quarters through the Registrar;(p)develop and operate an audit that all the registers, records and documents are property preserved for presentation before the audit;(q)place statement of accounts at such intervals as specified by the Board and the Vice-Chancellor;(r)bring serious irregularities, if any, in financial transactions of the University to the notice of the Board through the Vice-Chancellor;(s)render such assistance to the Registrar as may be required in management of assets and investments and scrutiny of the contracts and agreements; and(t)perform such other functions as may, from time-to-time, be assigned to him by the Vice-Chancellor.
