The Finance Committee prepares the budget and presents the financial implications and the audit report to the Governing Body. It also serves as an advisory team, which would offer sagacious suggestions to the Governing Body to use the funds with discretion. The Finance committee of the institute consists of the following members for the session 2023-24
Functions of Finance Committee:
(i) The annual accounts and financial estimates of the Institute shall be placed before the Finance Committee for scrutiny and thereafter submitted to the Governing Council together with the comments of the Finance Committee for approval.
(ii) The Finance Committee shall fix limits of the total recurring expenditure and the total non-recurring expenditure for the year based on the income and resources of the Institute. No expenditure shall be incurred by the Institute in excess of the limits so fixed.
(iii) Estimates the income from fees and other sources
(iv) Estimates the fund received from UGC/AICTE/any other funding agency
(v) Scrutinizes the budget submitted by the different depts. and monitor the utilization of department’s budget.
(vi) To consider audited accounts of the Institute and submits the audited accounts to GC
(vii) Advise the Governing Council on all financial matters
(viii) To scrutinize the budget submitted by the different departments and monitor the utilization of department budge
(ix) Propose the budget for the financial year for the departments and institute
(x) Consider and submit the audited accounts
Frequency of Meeting:
The Finance Committee conducts meeting once at the starting of each semester of Academic year and conduct additional meeting as per requirement of the institute.
Attendance in the meeting:
Around 80 to 90 Percent of committee members are always present in the meeting
