Amendment status not verified — confirm the current text below against the official source.
(1) The University shall constitute a Finance Committee Constitution of Finence consisting of the following members, namely :— Committee (a) the Vice-Chancellor ; (b) the Comptroller ; (¢) a member chosen by the Board from amongst the official members ; and (d) amember chosen by the Board from amongst the non-official members. (2) The powers and duties of the Finance Committee shall be as follows :— (a) to examine the annual accounts of the University and to advise the Board thereon ; (bh) to examine the annual budget estimates and to advise the Board thereon ; PUNJAB GOV'T GAZ. (EXTRA), JULY 29, 2005 (SRAVANA 7, 1927 SAKA) (¢) toreview the financial position of the University from Lime lo hime (d) to make recommendations to the University on all matter relating to the finances of the University: and ~(¢) to make recommendations to the Board on all proposals involving expenditure for which no provision has been made in the budget or which involves expenditure in excess of the amount provided in the budget (3) The accounts and the balance sheet shall be submitted by the Vice-Chancellor through the Board to the State Government. which shall cause them to be audited by the Examiner. Local Fund Accounts. (4) Theaccounts, when audited, shall be printed and copies thereof together with audit report, shall be submitted by the Vice-( ‘hancellor to the Board, which shall forward them to the State Government with such comments, as it may deem fit. The State Government shall cause a copy of the audited accounts together with its comments thereon, to be laid before the State legislature.