- The following shall be the functions and powers of the Finance Committee :-(a)To examine the Budget of the Wakfs and submit it to the Board after making such modifications and with such observations as it may consider necessary.(b)Subject to the delegations made in this behalf to any member, the Secretary or any other officers of the Board, to examine the Budgets of the registered wakfs and other wakfs for which committees have been appointed by the Board, where these budgets have been received from Mutwallis or Committees or have been prepared by the Secretary in the event of failure of mutwallis or Committees to submit them, return them for amendment or sanction them with or without any modifications provided that the modifications are not inconsistent with the wishes of the wakf concerned so far as such wishes can be ascertained.(c)To examine the Budgets of the wakfs directly administered by the Board and submit them to the Board with such modifications and observations as it may consider necessary.(d)Consistently with the provisions of the Act, to lay down a programme for the submission, examination and sanction of all Budgets.(e)To examine the abstracts of accounts of the wakfs directly administered by the Board as also of the wakf Fund at such intervals as may be prescribed by a resolution of the Committees.(f)To enquire and consider the financial irregularities and pass final orders thereon, or if it thinks fit, report to the Board with its observations.(g)To consider proposals for new items of expenditure whether included or not included in the budgets reject them or sanction them if within its own powers and in the case of items beyond its powers to submit them to the Board with its observations.(h)To re-appropriate funds from one head of a budget to another of the same budget subject to such restrictions if any, as may be imposed by a resolution of the Board.(i)To sanction new items of expenditure :-(I)In the case of items included in the budget full powers subject to the limits of provisions in the budget.(II)For non-recurring items not included in the Budget upto Rs. 1,000 in each case, provided funds can be found by re-appropriation of savings.(III)Recurring expenditure upto Rs. 600 per annum if additional funds can be found by re-appropriation or from savings.(j)If necessary, to obtain during the currency of the financial year revised budget estimates for the Wakf Fund or the wakfs directly administered by the Board and take such action thereon as it considers necessary.(k)To obtain at its discretion revised budget estimates during the currency of a year from any registered wakf or wakfs and take such other action thereon as it considers necessary.(l)In case of Shia Wakfs the consent of Shia Wakfs Committee will be taken in a sanctioning new items of expenditure or revising budgets.(m)To call for an examination the budgets of the Wakf-alal-aulad properties from its mutwallis where any portion of income is specified for charitable wakf.(n)To consider the proposals for the creation of new posts or alterations in the scales of pay of the existing posts in the Board and forward its recommendations to the Board.(o)To obtain or frame and consider proposals for the improvement of the income of wakfs directly administered by the Board and to implement them where this can be done without involving any important principles or serious difficulty.(p)To institute enquiries whenever it thinks fit into the financial administration of a registered wakf and wakf-ul-aulad to issue necessary orders on the reports received as a result of enquiries or to submit them with its observations to the Board.(q)To sanction payment out of the Wakf Fund of the arrears of land revenue, cess, rent, rates or taxes due to the Government or to a local authority from a registered wakf whose mutwalli refuses or fails to pay and also to recover the same with 12½% damages in case the failure or refusal of a mutwalli is wilful.(r)To create a Registered Wakf Fund from the savings of registered wakfs and see that the savings of such wakfs are applied for education and industrial purposes for the benefit of muslims of Delhi. Subject to delegation made to a member, the Secretary or any other officer of the Board, to consider reports of the auditors on the accounts of the subordinate wakfs and wakf-ul-aulad and pass necessary orders thereon. Provided that the Committee shall obtain and forward with its own observations a report containing a general appreciation of the working of the wakfs during the year with a special reference to their financial administration.(i)To consider loan applications and terms to give loans to registered wakfs out of the fund created from the savings of the Registered Wakfs and recommend the same to the Board.(ii)To see and ensure that savings of all wakfs which are registered or for which committees to manage have been appointed are deposited in the Regd. Wakf Fund.
