Tenure of Members of the Finance Committee:

• All members of the Finance Committee other than ex-officio members shall hold office for a term of three years from the date of first appointment.

Powers and the Functions of the Finance Committee:

• To consider the annual accounts and financial estimates of the Institution Deemed to be University and to submit them to the Board of the Management for its approval.
• To consider and recommend the annual budget and revised estimates to the Board of Management.
• To fix limits on the total recurring expenditure and the total non-recurring expenditure of each year based on the income and resources of the Institution Deemed to be University.
• No expenditure other than that provided in the budget shall be incurred by the Institution Deemed to be University without the approval of the Finance Committee.