Amendment status not verified — confirm the current text below against the official source.
Chief Finance and Accounts Officer. - (1) The Chief Finance and Accounts Officer shall be appointed by the President in accordance with section 19 of the Act. (2) The Chief Finance and Accounts Officer shall be appointed by the President with prior written approval of the Chairperson. (3) A person to be-appointed as Chief Finance and Accounts Officer shall be qualified and experienced in institutional financial and accounting affairs. However in absence / unavailability of Chief Finance and Accounts Officer, his functions may be assigned to other officers of the University with prior written approval of the Chairperson. (4) The Board of Management may fix an appropriate remuneration to be paid to the Chief Finance and Accounts Officer. (5) The Board of Management may require the Chief Finance and Accounts Officer to perform the following functions, namely:- (a) to supervise ,and control the keeping of accounts and account records of the University and its associated bodies (if any), and in particular, the University’s Endowment Fund, General Fund and such other funds as may be required to be administered by the University; (b) to prepare and submit to the Chairperson quarterly, half yearly and annual cash-flow projections and status of accounts for these periods for the consideration of the Board of Management. (c) to prepare and submit to the Board of Management, through & the Chairperson, the annual budget ~and statement of accounts of the University; Page 17 of 25 (d) (d) to examine ways and means to augment the finances of the University, and to rationalize expenditure, and submit proposals thereon to the Chairperson; (e) (e) to institute a system of periodic internal audit of accounts of the University and to facilitate such external audit, as may be required by the Chairperson; (f) to set up, in consultation with the Chairperson, a viable inventory mechanism for the property, and other physical | assets of the University; (g) to prepare and submit to the Board of Management, through the Chairperson, the annual report on the finances and accounts of the University; and (h) to function under the supervision and direction of the Chairperson and the Board of Management. (6) The Chairperson may, however, assign such other functions to the Chief Finance and Accounts Officer as deemed necessary; PART-4 TERMS AND CONDITIONS OF SERVICE, DUTIES AND FUNCTIONS OF OTHER OFFICERS OF THE UNIVERSITY