17. Finance Committee
(1) The Finance Committee shall consist of the following members, namely:-
(i) the Vice-Chancellor;
(ii) the Financial Adviser, Indian Council of Agricultural Research;
(iii) three persons to be nominated by the Board, out of whom at least one shall be a member of the Board;
(iv) three persons to be nominated by the Visitor; and
(v) the Comptroller of the University, Member-Secretary.
(2) Five members of the Finance Committee shall form a quorum for a meeting of the Finance Committee.
(3) The members of the Finance Committee, other than ex officio members, shall hold office for a term of three years.
(4) A member of the Finance Committee shall have the right to record a minute of dissent if he does not agree with any decision of the Finance Committee. (5) The Finance Committee shall meet at least twice a year to examine the accounts and to scrutinise proposals for expenditure.
(6) Every proposal relating to creation of posts, and those items which have not been included in the Budget, should be examined by the Finance Committee before they are considered by the Board.
(7) The annual accounts and the financial estimates of the University prepared by the Comptroller shall be laid before the Finance Committee for consideration and comments and thereafter submitted to the Board for approval.
(8) The Finance Committee shall recommend limits for the total recurring expenditure and the total non-recurring expenditure for the year, based on the income and resources of the University (which, in the case of productive works, may include the proceeds of loans).