Finance Committee:
The Finance Committee will advise the Governing Body on financial matters and shall meet at least once a year. It also serves as an advisory team, which would offer suggestions to the Governing Body to use the funds with discretion.
Finance committee should meet at least once in a financial year. The meetings can be organized in the month of April every year.
Objective:
To ensure proper utilization of fund.
Composition of Finance Committee:
1. The principal (Chairman).
2. One person to be nominated by the Governing Body of the college for a period of two years
3. One senior-most teacher of the college to be nominated in rotation by the principal for two years.
4. Finance officer of the Institute.
Finance Committee Members:
S. No. |
Name of the Staff Member |
Designation |
Position |
|---|---|---|---|
1. |
Dr. K.S.Sadasiva Rao |
Principal |
Chairman |
2. |
Mr. L. Satyanarayana |
Sr. Administrative Officer, Sri Indu Group |
Governing Body nominated member |
3. |
HOD H&S Department |
Senior-most teacher of the college nominated by principal |
|
4. |
Mr. K. Abhiram |
Accountant & Auditor |
Member |
5. |
Accountant |
Member |
Functions of Finance Committee:
- Budget estimates relating to the grant received/ receivable from UGC, and income from fees, etc. collected for the activities to undertake the scheme of autonomy
- Audited accounts for the above.
- Monitor expenses incurred have budgetary provision recommend for approval financial proposals made by other committee’s with/with-out modification.
- Check that necessary formalities have been observed in incurring expenses.
- Check process bills of various heads placed for payment.
- Revision and reallocation of available funds for various heads if required.