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Article 6: Finance Committee
Overview
Under Rule-43 of the Memorandum of Association, the Finance Committee is established as a Sub-Committee of the Executive Committee, consisting of six members. It includes ex-officio members such as the representative of the Ministry of Human Resource Development, the Financial Member, the Commissioner of Navodaya Vidyalaya Samiti (NVS), and the Chief Accounts Officer & Internal Financial Adviser of NVS.
Composition
The Finance Committee of the Samiti comprises the following members:
1. Joint Secretary and Finance Advisor, MHRD - Chairman
2. Joint Secretary (SE-II), Department of School Education & Literacy - Member
3. Commissioner, NVS - Ex-Officio Member
4. Chairman, CBSE - Member
5. Commissioner, KVS - Member
6. CAO & IFA, NVS - Member Secretary
Functions
The Finance Committee is entrusted with the following duties:
- 6.2.1 To scrutinize the accounts and budget estimates of the Samiti and make recommendations to the Executive Committee.
- 6.2.2 To consider and make recommendations to the Executive Committee on proposals for new expenditure on account of major works and purchases, which shall be referred to the Finance Committee for opinion before consideration by the Executive Committee.
- 6.2.3 To scrutinize re-appropriation statements and audit notes and make recommendations thereon to the Executive Committee.
- 6.2.4 To review the finances of the Samiti from time to time and have concurrent audit conducted whenever necessary.
- 6.2.5 To give advice and make recommendations to the Executive Committee on any other financial questions affecting the affairs of the Samiti.
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