Finance & Purchase Committee

Creation of the Committee

The Finance & Purchase Committee represents the Principal on all financial matters of the College. The Principal shall inform and consult with the Finance & Purchase Committee on the construction and implementation of the College budget. The college Finance & Purchase Committee shall review funding, allocations, and expenditures of the College and report to the Management every academic year.

Objectives

The Finance & Purchase Committee is responsible for all matters relating to the financial affairs of the institution encompassing the areas of s financial planning, financial monitoring and policy related issues and to provide timely advice to Management on areas within its remit.

To ensure proper utilization of fund.
To ensuring proportionality, transparency, accountability and fairness in the purchasing process
To submit the reports to the Management.

Selection procedures

The faculty and non-teaching staff give their choice for acting as coordinators in the Finance & Purchase Committee. Based on the choice given by the faculty, the College Academic Committee selects the coordinator and members.

Tenure

The tenure of the selected coordinator and members is for one academic year.

Coordinators

The Finance & Purchase Committee is reconstituted every year. For the academic year 2018-19, following members are appointed:

S.No	Name of Member	Designation	Position in the committee
1	Dr. B. Madhubala	Principal	Chairman
2	E-Devender Rao	Associate Professor	Coordinator
3	Ch. Kameshwar Acharya	Accountant	Member

Roles and Responsibilities of the Committee:

Preparation of budget of the college for the year.
Estimation of tuition fee, student expenses fee to be collected.
Preparation of schedule of fee payment.
Obtaining and verification of quotations for the purchase of stationary, equipment, furniture and others.
Submission of purchase requirements.
Ensure that expenses incurred have budgetary provision
Maintenance of relevant records.