Composition of Finance Committee

S.NO Name and Designation Role
1 Dr. M. Mohan Babu Chairman
2 Dr. E. Lokanadha Reddy Member
3 Mr. M.P. Balaji Member

Term: Three years.

Functions:

The annual accounts and financial estimates of the Institution shall be placed before the Finance Committee for consideration and thereafter submitted to the Governing Body together with the comments of the Finance Committee for approval.

  • The Finance Committee shall fix limits of the total recurring expenditure and the total non-recurring expenditure of the year based on the income and resources of the Institution.
  • No expenditure other than that provided in the budget shall be incurred by the Institution without the approval of the Finance Committee.
  • To provide the financial estimates in respect of building and other infrastructural facilities that are planned to be provided based on the recommendations of Academic Council.
  • To monitor and control the expenditure and revenue in case of any deviation

Sample Minutes

  • The committee met all the heads of the departments and unit heads to discuss and finalize the budget proposal for the year 2021-2022 which will be presented to the Governing body for approval
  • The committee facilitated the external audit and the audited statements are circulated to all the departments and units
  • Settlement of various bills and advances by the departments and units is processed.
  • The departments and units were advised to keep the financial transactions up to date for day-to-day monitoring as part of the internal monitoring mechanism

 

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