Power and Duties of Finance Officer

The Finance Officer is a whole time salaried Officer of the University. The Finance Officer functions under the overall control of the Vice-Chancellor, he looks after the financial matters of the University and required to exercise general supervision over the funds of the University. The Finance Officer is responsible for the proper maintenance of the accounts of the University, subject to the control of Executive Council. He is the Member-Secretary of the Finance Committee of the Himachal Pradesh University and performing following functions:

  • Exercise general supervision over the funds of the University and shall advise it as regard its financial policy.
  • Be responsible for the proper maintenance of the accounts of the University; and
  • 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 investment exceeding Rs.10,000/- without the previous approval of the Vice-Chancellor.

Subject to the control of the Executive council, the Finance Officer shall-

  • Hold and manage the property and investments including trust and endowed property for furthering any of the objects of the University.
  • See that the limits fixed by the Finance Committee for recurring and non-recurring expenditure for one year are not exceeded and that all moneys are expended on the purposes for which they are granted or allotted.
  • Be responsible for the preparation of annual accounts and the budget of the University for the financial year and for presentation of the same to the Executive Council.
  • Keep a constant watch on the state of the cash and bank balances and on the state of investments;
  • Watch the progress of collection of revenue and advise on the methods of collection employed;
  • See that the registers of building, land furniture and equipment are maintained up-to-date and that the stock checking of equipment and other consumable material in all offices, teaching departments, colleges and institutions maintained by the University is conducted at regular intervals, or as may be required from time to time;
  • Call for from any office or department or college or institution under the University any information or returns that he may consider necessary to discharge his financial responsibilities.
  • The receipt of the Finance Officer or of the person or persons duly authorized in this behalf by the Executive Council for any money payable to the University shall be sufficient discharge for the same.