SRINIVASA

Finance and Planning Committee                                        

The committee examines the annual statement of the accounts and financial estimates of the institute prepared by the Finance and Accounts Officer and submit it to Board of Governance for further action. It recommends to BOG the limits for the total recurring and non-recurring expenditure for the year based on income and resources of the Institute, including the proposals of the loans for productive work. It also takes necessary steps to have the Institute accounts audited by Auditors appointed by the BOG. The Finance and Planning Committee advises the Governing Body on financial matters. It prepares and submits the income and expenditure statements in the prescribed format to AFRC for fixation of tuition and other fees of the college. It is an advisory committee to the Governing Body.

Composition of Finance and Planning Committee

Finance and Planning committee shall meet to appraise finance related matters and submit a report to the governing body. The roles and responsibilities are to:

1. Invite budget proposals in prescribed format from all departments/committees/cells, prepare a consolidated budget after analysis and forward the same to the governing body for approval.
2. Review of the audited reports and upload in institute website after approval from governing body.
3. Take necessary measures to organize audits by auditors appointed by the governing body.
4. Propose honorarium to the examination branch staff, travelling allowances, grants, R&D incentives etc. and get it approved by the governing body.
5. Recommend to governing body regarding appointments, increments, allowances, PF and pay fixation to all the staff members including ministerial staff.
6. Recommend to the governing body for investments and the management of assets and resources.
7. Consolidate budget estimates related to various grants received/receivable from the UGC/AICTE/ Govt. / Private and income from fees and other sources and expenditure.
8. Develop a plan for optimum utilization of approved budget.
9. Report to the Principal on any lapses or irregularities in the financial matters.
10. Prepare feedback of ongoing activities and forward it to governing body.