Finance Committees

 

FINANCE COMMITTEE (FC)

COMPOSITION

The FC shall comprise:

i)  The Principal as the Chairman, Ex-officio;

ii) A person to be nominated by the G.B;

iii)      One senior teacher of the College to be nominated by the principal as member-secretary.

TERM

Two years. In case of nomination made under (iii) above, the teacher shall continue to be a 

member of the FC for two years or till he/she shall continue to be a member of the staff of the

College, whichever is earlier.

POWERS AND FUNCTIONS

i)  The FC shall be an advisory body to the G.B and shall meet at least twice a year to prepare the budget estimates relating to grants received/receivable from the UGC, Government, and Non-governmental sources, income from fees, etc. collected and place them before the G.B for approval;

ii) A separate Account of the Autonomous College shall be maintained;

iii)The FC shall consider the audited accounts of the College;

iv)The FC shall fix limits for the total recurring and non-recurring expenditure of the year based on the income and resources of the College. No expenditure shall be incurred by the College more than the limits so fixed;

v) No expenditure other than that provided in the budget shall be incurred by the College without the concurrence of the Finance Committee;

vi)The FC shall prescribe the Admission Fee, Tuition Fee, and other sessional charges to be paid by the students, as suggested  by the Ad C

            vii)The FC shall recommend rates of remuneration/honorarium for various persons, as suggested by the committees concerned to the G.B