Section 16 of The University of Hyderabad Act, 1974
The Finance Officer shall be appointed in such manner and shall exercise such powers and perform such duties as may be prescribed by the Statutes.
Summary
- The Finance Officer is a full-time, salaried employee responsible for the University's money and assets.
- This officer provides advice on financial policy and keeps a constant watch over cash, bank balances, and investments.
- They are responsible for preparing the annual budget and the year-end accounts for the Executive Council.
- The Finance Officer ensures that the University does not spend more than the spending limits set by the Executive Council.
Practical examples
FAQ
1. Who is responsible for making sure the University's land and buildings are properly tracked?
The Finance Officer must ensure that up-to-date registers of buildings, land, and equipment are maintained.
2. Does the Finance Officer vote on the Finance Committee?
No, the Finance Officer is the ex officio Secretary but not a member of the Finance Committee.
3. What happens if the Finance Officer finds someone is spending money without permission?
They have the power to call for an explanation and suggest that disciplinary action be taken against those at fault.
Test yourself
Q1.Under Section 16 of The University of Hyderabad Act, 1974, and Statute 5, what is the maximum amount the Finance Officer can spend without Executive Council approval?
Q2.Under Section 16 of The University of Hyderabad Act, 1974, which of these is a duty of the Finance Officer?
Q3.Under Section 16 of The University of Hyderabad Act, 1974, what is the retirement age for the Finance Officer?
Q4.Under Section 16 of The University of Hyderabad Act, 1974, whose approval is needed to set the yearly limits on University spending?