Amendment status not verified — confirm the current text below against the official source.
Substituted by Act No. 4 of 1998. [Act No.6 of 1986] 37 the duties of the office shall be performed by such persons as the Vice-Chancellor may appoint for the purpose. (3) The Finance Officer shall- (a) exercise general supervision over the funds of the University and shall maintain the accounts of the University and shall advise it as regards its financial policy; and (b) perform such other financial functions as may be assigned to him by the Executive Council or as may be prescribed by these Statutes or the Ordinances: Provided that the Finance Officer shall not incur any expenditure or make any expenditure or make any investment exceeding 16[rupees twenty five thousands] without the previous approval of the Executive Council. (4) Subject to the control of the Executive Council, 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 Executive Council 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 granted or allotted; (c) be responsible for the preparation of annual accounts and the budget of the University and their presentation to the Executive Council;