(1) There shall be a Finance Officer for the University who shall be appointed by the State Government by a notification published in the Official Gazette, and his remuneration and allowances shall be paid by the University.
(2) The Finance Officer shall be responsible for presenting the budget (annual estimates) and the statement of accounts to the Executive Council and also for drawing and disbursing funds on behalf of the University.
(3) He shall have the right to speak in and otherwise to take part in the proceedings of the Executive Council but shall not be entitled to vote.
(4) The Finance Officer shall have the duty
(a) to ensure that no expenditure, not authorized in the budget, is incurred by the University (otherwise than by way of investments) ;
(b) to disallow any proposed expenditure which may contravene the provisions of this Act or the terms of any Statutes or Ordinances ;
(c) to ensure that no other financial irregularity is committed and to take steps to set right any irregularities pointed out during audit ;
(d) to ensure that the property and investment of the University and duly preserved and managed.
(5) The Finance Officer shall have access to and may require the production of such records and documents of the University and the furnishing of such information pertaining to its affairs as in his opinion may be necessary for the discharge of his duties.
(6) All contracts shall be entered into and signed by the Finance Officer on behalf of the University.
(7) Other powers and functions of the Finance Officer shall be such as may be prescribed.
(2) The Finance Officer shall be responsible for presenting the budget (annual estimates) and the statement of accounts to the Executive Council and also for drawing and disbursing funds on behalf of the University.
(3) He shall have the right to speak in and otherwise to take part in the proceedings of the Executive Council but shall not be entitled to vote.
(4) The Finance Officer shall have the duty
(a) to ensure that no expenditure, not authorized in the budget, is incurred by the University (otherwise than by way of investments) ;
(b) to disallow any proposed expenditure which may contravene the provisions of this Act or the terms of any Statutes or Ordinances ;
(c) to ensure that no other financial irregularity is committed and to take steps to set right any irregularities pointed out during audit ;
(d) to ensure that the property and investment of the University and duly preserved and managed.
(5) The Finance Officer shall have access to and may require the production of such records and documents of the University and the furnishing of such information pertaining to its affairs as in his opinion may be necessary for the discharge of his duties.
(6) All contracts shall be entered into and signed by the Finance Officer on behalf of the University.
(7) Other powers and functions of the Finance Officer shall be such as may be prescribed.
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More sections of this act
Section 1 · Short title, extent and commencementSection 2 · DefinitionsSection 3 · Incorporation of UniversitiesSection 4 · Establishment of new Universities and alteration of the areas or names of UniversitiesSection 5 · Territorial exercise of powersSection 6 · University open to all classes and creedSection 7 · Powers and duties of the UniversitySection 7A · Additional powers and duties of certain UniversityIndia Code, Government of India. Text fetched 23 Oct 2026. Source metadata reports last modification: 2025-03-10. Check the linked official text and subsequent notifications when applying a provision.