Amendment status not verified — confirm the current text below against the official source.
The Mnance Officer.-(I) The Finance Officer shall be a whole- time salaried officer of the University. (2) The emoluments and other terms and conditions of service of the Finance Officer shall be such as may be prescribed by the ordinances : Provided that the Finance Officer shall retire on attaining the age of sixty years : 1 Provided further that the Finance Officer shall, notwithstanding his attaining the age of sixty years, continue in office until his succes- sor is appointed and enters upon his office or until the expiry of a period of one year, whichever is earlie]. (3) When the office of the Finance Office1 is vacant or when the Finance Officer is, by reason of illness, absence or any other cause, unable to perfcrm thz duties of his officc, the duties of the office shall be performed by such person as the Vice-Chancellor may appoint for the purpose. (4) The Finance Officer shall be ex-officio Secretary of the Finance Qommittec, but shall not be deemed to be a member of such Committee. (5) The Finance Officer shall,-- i (a) exercise general supervision over the funds of the Univer- sity and shall advise the University as regards its financial policy ; and I (b) pe~form such other financial functions as may be assigned to him by the Syndicate or as may be prescribed by these Statutes or the ordinances : I I Providcd that the Finance Officer shall not incur any expendi- ture or make any investment ekceeding such amount as may be pres- cribed without the previous approval of the Syndicate. (6) Subject to the control of the Syndicate, the Finance Officer shall- (a) hold and manage the property and investments of the University including trust and endowed property ; (b) ensure that the limits fixed by the Syndicate for recurring and non-recurring expenditure for a year are not exceeded and that all moneys are expended on the purposes for which they are grantcd or allotted ; (c) be responsible for the preparation of annual accounts and the budget of the University and for their presentation to Syndicate; (d) keep a constant watch on the cash and bank balances and of investments ; (e) watch the progress of the collection of revenue and advise on the methods of collection employed ; (f) ensure that the registers of buildings, land, furniture and equipment are maintained up-to-date and that stock-checking is con- ducted, of equipment and other consumable materials in all offices, special centres, specialised laboratories, constituent colleges and insti- tutions maintained by the University ; (g) call for explanation for unauthorised expenditure and for other financial irregularities and suggest disciplinary action against persons at fault ; and 1 (h) call from any office, centre, laboratory: constituent college or institution maintained by the University, any information or returns that he may consider necessary for the performance of his duties. (7) The receipt of the Finance 0fEcer or of the person or persons duly authorised in this behalf by the Syndicate for any money payable to the University shall be sufficient discharge for payment of such money.