· FUNCTIONS OF FINANCE COMMITTEE
- The annual accounts and financial estimates of the Institute shall be placed before the Finance Committee for scrutiny and thereafter submitted to the Governing Council together with the comments of the Finance Committee for approval.
- The Finance Committee shall fix limits of the total recurring expenditure and the total non-recurring expenditure for the year 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 provide the financial estimates in respect of building and other infrastructural facilities that are planned to be provided based on the recommendations of Institute Development Committee.
- Estimates the income from fees and other sources.
- Estimates the fund received from UGC/AICTE/any other funding agency.
- Prepares plan of expenditure for running of the institution on day to day basis
- Scrutinizes the budget submitted by the different depts. and monitor the utilization of department’s budget.
- Proposes the budget for the financial year for the departments and the institute.
- To consider audited accounts of the Institute and submits the audited accounts to GC.
- To make recommendations to the Governing Council for the following to:
FINANCE COMMITTEE
Finance Committee of the institution shall be the key body which will monitor and manage the financial sustainability if the institution. Finance committee is an advisory body to the Governing Body and reports / recommends from time to time regarding the matters related to budget estimates, income from fees etc.
A Centralized Finance Committee has been reconstituted to ensure proper financial planning at the beginning of the academic year, funds are obtained and put to correct use as planned and approved by the Management for day to day College Activities.
ROLES OF FINANCE COMMITTEE
- To monitor and manage the budget relating to the income from fees are to be collected.
- To manage the annual budgets and utilization reports submitted by the individual departments Audited.
RESPOSIBILITIES OF FINANCE COMMITTEE
- Budget estimates relating to the grant received/receivable from UGC, and income from fees, etc. collected for the activities to undertaken.
- To recommend fixation/revision of fees and other charges payable by the students to the college Governing council.
- To check that expenses incurred have budgetary provision recommend for approval of financial proposals made by other committees with or without modification.
- To prepare the departmental as well as overall budget for the college have been observed in incurring expenses.
- To identify the recurring and non recurring Expenditure.
- Consider proposal for enhancement of wage/allowance or engagement of temporary staff.
- It monitors income and expenditures and maintains the audited accounts.
It provides financial analysis, advice and oversight of the organization’s budget.
FINANCE COMMITTEE MEMBERS
AY 2023-24
SI NO | NAME OF THE FACULTY | DEPARTMENT | FACULTY POSITION |
1 | P.Murari | EEE-HOD | Co-Ordinator |
2 | M.Kaleswar | BS&H | Faculty Member |
3 | B.Raghuram | CIVIL | Faculty Member |
4 | K.Dilleswararao | MCA | Faculty Member |
5 | P.Suresh | EEE | Faculty Member |
6 | Manas Ranjan Biswal | ECE | Faculty Member |
7 | Ch.Bhanu Sri | MECH | Faculty Member |
FINANCE COMMITTEE MEMBERS
AY 2022-23
SI NO | NAME OF THE FACULTY | DESIGNATION | FACULTY POSITION |
1 | Mishra | MBA | Co-Ordinator |
2 | M.Jagadeesh | CIVIL | Faculty Member |
3 | A.Ganesh kumar | CSE | Faculty Member |
4 | M.Sanjivi Naidu | EEE | Faculty Member |
5 | Manas Ranjan Biswal | ECE | Faculty Member |
6 | Ch.Bhanu Sri | MECH | Faculty Member |
7 | Ch.Venu | BS&H | Faculty Member |
FINANCE COMMITTEE MEMBERS
AY 2021-22
SI NO | NAME OF THE FACULTY | DEPARTMENT | FACULTY POSITION |
1 | Mishra | MBA | Co-Ordinator |
2 | Y.Dhana lakshmi | CIVIL | Faculty Member |
3 | A.Ganesh kumar | CSE | Faculty Member |
4 | M.Sanjivi Naidu | EEE | Faculty Member |
5 | B.Sarada | ECE | Faculty Member |
6 | Ch.Bhanu Sri | MECH | Faculty Member |
7 | K.Ramanjaneyulu | BS&H | Faculty Member |
Resolutions
Agenda Point | Resolutions | Responsible person |
2 | Presentation of the Audited Balance sheet for the FY 2022-23. | P.Murari |
3 | Revenue generated as per the intake. | B.Raghuram |
4 | Discussed the income and expenditure for the FY 2022-23 | K.Dilleswararao |
5 | Proposed some financial aspects from dept committee members. | P.Suresh |
6 | Proposed some proposals from departments for academic purposes. | Manas Ranjan Biswal |
7 | Discussed financial matters related to students. | Ch.Bhanu Sri |