Finance Committee

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. I. Satyanarayana

Principal

Chairman

2.

Mr. L. Satyanarayana

Sr. Administrative Officer, Sri Indu Group

Governing Body nominated member

3.

Dr. R. Yadgiri Rao

HOD H&S Department

Senior-most teacher of the college nominated by principal

4.

Mr. K. Abhiram

Accountant & Auditor

Member

5.

Mr. E. Venkanna

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.