The authority for utilizing the budgetary allocation of funds is given to the Head of the Institution. The finance committee of VIPT is responsible for deciding the budget allocation. The budget involves the utilization of funds for maintenance, purchase of equipment, consumables and other miscellaneous expenses. The finance committee examines the requirement submitted by the institution and the approvals are given with or without modifications. In case there is a need for additional funds other than the budgetary allocation, the Head of the Institution will have to request VIPT with relevant justification. Based on the requirements all HoD's and conveners are made aware financial budget allocation and utilization of allotted money.
Functions of the Finance Committee:
- To consider the annual accounts and financial estimates of the institution Institute and submit them to the GB Meeting for approval.
- To consider and recommend the annual budget and revised estimates to the Board of Management.
- To fix limits of total recurring expenditure and the total non-recurring expenditure of the year based on the income and resources of the institution.
- To review the annual reports of the institute and budget
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Sl.No. |
Name |
Designation |
|
1 |
Dr. Y. Srinivas Rao , Principal, Vignan Institute of Pharmaceutical Technology |
Chairman |
|
2 |
Mr. N. Srikant, Executive Director, Vignan Group, Vizag |
Member (Society’s Nominee) |
|
3 |
Mr. Ranga Rao,Internal Auditor, Vignan Group, Vizag |
Member
|
|
4 |
Mr I Rama Rao,External Auditor, Vignan Group, Vizag |
Member
|
|
4 |
Mr. S. Suresh,Accounts Manager, Vignan Group, Vizag |
Member
|
|
5 |
Mr. P. N. Mallikarjun,Sr. Faculty, Vignan Institute of Pharmaceutical Technology |
Member Secretary |