The Finance Committee is the statutory body responsible for overseeing the financial planning, budgeting, and resource utilisation of an autonomous college. It ensures that the institution’s finances are managed prudently, transparently, and in alignment with academic priorities. The UGC Regulations (2023) provides a broad outline the Finance Committee’s functions and responsibilities. The following functions are envisioned:

• Budget Preparation and Approval. Prepares the annual budget of the college, covering academic, administrative, and developmental needs; reviews budget proposals submitted by departments and administrative units; and recommends the final budget to the Governing Body for approval.
• Monitoring Income and Expenditure. Reviews income streams, including fees, grants, endowments, and other revenues; monitors expenditure patterns to ensure they align with approved budgets and institutional priorities; and ensures financial discipline and prevents overspending.
• Fee Structure Recommendations. Examines and recommends the tuition fee structure, examination fees, and other charges; ensures that fee proposals are reasonable, justified, and compliant with regulatory norms; and submits recommendations to the Governing Body for final approval.
• Resource Allocation and Financial Planning. Allocates funds for academic programmes, infrastructure, research, library resources, and student support; prioritises spending based on institutional goals and long‑term development plans; and advises on financial sustainability and future resource requirements.
• Review of Audit and Compliance. Reviews internal and external audit reports; ensures compliance with statutory financial regulations and accounting standards; and recommends corrective actions wherever necessary.
• Advisory Role to the Governing Body. Provides financial insights and recommendations to support policy decisions; and advises on major capital expenditures, infrastructure projects, and long‑term investments.

The committee ensures that the college’s financial resources are planned, allocated, and utilised responsibly, supporting academic excellence while maintaining transparency and regulatory compliance.

Regulation 12.6 of the Universities Grants Commission (Conferment of Autonomous Status Upon Colleges and Maintenance of Standards in Autonomous Colleges) Regulations, 2023.