Section 17 in The Shree Somnath Sanskrit University Act, 2005
17. Finance and Accounts Officer, his powers and functions.
(1)(a)The Finance and Accounts Officer shall be appointed by the Vice-Chancellor in the manner prescribed under Section 18.(b)The Finance and Accounts Officer shall be the principal finance officer of the University. He shall be a full time salaried officer and shall work directly under the control of the Vice-Chancellor.(2)The Finance and Accounts Officer shall be the Member-Secretary of the Finance and Accounts Committee.(3)The Finance and Accounts Officer shall have the right to be present, speak and otherwise take part in the proceedings of the Executive Council on matters having financial implications, but shall not be entitled to vote.(4)The Finance and Accounts Officer shall maintain minutes of the meetings of the Finance and Accounts Committee and shall ensure proper implementation of the decision taken by the Finance and Accounts Committee.(5)The Finance and Accounts Officer shall be responsible for presenting the annual budget, statement of accounts and audit reports to the Finance and Accounts Committee and to the Executive Council.(6)The duties of the Finance and Accounts Officer shall be to,-(i)exercise general supervision over the funds of the University and advise the Vice-Chancellor as regards the finances of the University;(ii)hold and manage the funds, property and investments including trust and endowed property for furthering any of the objects of the University;(iii)ensure that the limits fixed by the University for recurring and nonrecurring expenditure for a year are not exceeded, and that all allocations are expended for the purposes for which they are granted or allotted;(iv)keep watch on the state of the cash and bank balances and of investments;(v)keep watch on the progress of collection of revenue and advice the Vice-Chancellor on the methods to be employed for collection;(vi)have the accounts of the University audited regularly;(vii)ensure that the registers of buildings, land, equipments and machinery are maintained in order and that the stock taking of equipments and other consumable materials in all offices colleges, workshops and stores of the University is conducted regularly;(viii)call for from any office, centre, laboratory, college or department of the University or University institution, any information and returns that he thinks necessary for the proper discharge of his financial responsibilities; and(ix)exercise such other powers, perform such other duties and discharge such other financial functions as are assigned to him by the Vice-Chancellor from time to time.
