The finance committee consist of the following members:
|1||Director, FRI & Vice Chancellor, FRIDU||Chairman|
|2||A person nominated by the Society or Trust||Member|
|3||Two nominees of the Board of Management one of whom shall be a Member of the BOM||Member|
|4||A representative of the Central Govt.||Member|
|5||Finance officer (Registrar, FRIDU)||Non member Secretary|
TERMS OF OFFICE OF THE MEMBERS OF THE FINANCE COMMITTEE
All members of the Finance Committee other than ex-officio members hold office of a term of three years.
POWERS AND FUNCTIONS OF THE FINANCE COMMITTEE
- The Finance Committee shall meet at least twice a year to examine the accounts and to scrutinize proposals for expenditure
- The annual accounts and financial estimates of the Institute shall be placed before the Finance Committee for consideration and there after submitted to the Board of Management together with comments of the Finance Committee for approval.
- The Finance Committee shall fix limits of the total recurring expenditure and the total non-recurring expenditure of the years based on the income and resources of the Institute. No expenditure shall be incurred by the Institute in excess of the limits so fixed
- No expenditure other than that provided in the budget shall be incurred by the Institute without the approval of the Finance Committee.
- To recommend to the Board of Management the creation of all types of posts.