Finance Committee
Functions and Responsibilities
The following are the functions and Responsibilities of Finance Committee:
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- The annual accounts and financial estimates of the Institute shall be placed before the Finance Committee for scrutiny and 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 Governing Body.
- Estimates the income from fees and other sources.
- 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.
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S No. Name of the Member Actual Designation Committee Designation 1 V Malla Reddy Chairman Chairman 2 V Raghavender Reddy Director Finance and Accounts Nominated by the Governing Body 3 Dr M Sreedhar Reddy Principal of MREM Member Convener 4 Dr B Subba Ratnam Professor & Director Member 5 Dr Shaik Mastan Vali Associate Professor of MBA Member 6 Mrs A Swathi Assistant Professor of Maths Member 7 Mr G Chakrapani Associate Professor of CSE Member