FINANCE COMMITTEE

The Finance Committee, as per UGC (University Grants Commission) guidelines, is a crucial body responsible for overseeing the financial matters of an institution. Its composition and functions are outlined in UGC regulations, ensuring proper management of funds and adherence to financial norms.

Budget and Accounts: Examines budget estimates, income from fees, and audited accounts.
Financial Proposals: Reviews proposals involving new expenditure in light of available funds.
Advisory Role: Provides financial advice to the governing body.
Expenditure Monitoring: Monitors the progress of expenditure against approved budgets.
Internal Audit: May be involved in internal audit processes and recommendations.
Compliance: Ensures compliance with UGC directives and guidelines.

Key Responsibilities:

The Finance Committee's primary responsibility is to ensure the financial health and sustainability of the institution by providing oversight and guidance on financial matters. They play a critical role in safeguarding public funds and promoting responsible financial management.