Amendment status not verified — confirm the current text below against the official source.
16.(1) There shall be a Finance Officer for the University who shall be appointed by the Government by a notification and his remuneration and allowances shall be paid by the University. (2) An Accounts Officer may be appointed to aid and assist the Finance Officer on the conditions prescribed under the Statutes, against the strength sanctioned by the Government. (3) The Finance Officer shall be responsible for presenting the budget (annual estimates) and the Statement of Accounts to the Executive Council and also for drawing and disbursing funds on behalf of the Univesity. (4) The Finance Officer shall have the right to speak in and otherwise to take part in the proceedings of the Executive Council but shall not be entitled to vote. (5) The Finance Officer shall be responsible (a) to ensure that no expenditure not authorized in the budget, is incurred by the University (otherwise than by way to investments); (b) to disallow any proposed expenditure which may contravene the provisions of this Act or the terms of any Statutes or Ordinances; (c) to ensure that no other financial irregularity is committed and to take steps to set right any irregularities pointed out during audit; (d) to ensure that the property and investments of the University are duly preserved and managed. (6) The Finance Officer shall have access to and may require the production of such records and documents of the University and the furnishing of such information pertaining to its affairs as in his opinion may be necessary for the discharge of his duties. (7) The Finance Officer shall not be offered nor shall he accept any remuneration for any work in the University. (8) All contracts shall be entered into and signed by the Finance Officer on behalf of the University. (9) Other powers and functions of the Finance Officer shall be such as may be prescribed.