Finance Committee

The finance committee is very essential part of the college, responsible for overseeing financial planning, budgeting, and ensuring that funds are used effectively and responsibly. This committee plays a crucial role in maintaining the financial health of the organization, and guiding strategic decisions.

Objectives

• Budget Development: To assist in creating and reviewing the annual budget.
• Financial Reporting: To ensure accurate and timely financial reports are prepared and presented.
• Resource Allocation: To recommend how funds should be allocated to various projects or departments or cells, etc.

Roles and Responsibilities

• Budget Review: Examine and approve the proposed annual budget before it is presented to the Governing Body.
• Financial Analysis: Analyse financial statements and performance metrics to monitor the organization's financial health.
• Report Findings: Provide reports and recommendations to the Governing body or Management regarding financial decisions and strategies.
• Evaluate Investments: Review and recommend investments and expenditures to maximize the organization's financial resources.
• Education, Training and Guidance: Educate concerned staff or members about financial policies, procedures, and planning to ensure informed decision-making.

By fulfilling these roles and responsibilities, the Finance Committee helps ensure that the college remains financially sound and aligned with its strategic goals.