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.