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Finance Committee

Finance Committee

As per the University Grants Commission (UGC) guidelines, the Finance Committee (FC) is a statutory body responsible for overseeing the financial governance of the institution. At Achievers College of Commerce and management (Night College), Kalyan (W) the Finance Committee plays a pivotal role in ensuring financial discipline, transparency, accountability, and optimal utilization of resources to support academic excellence and institutional development, particularly in the context of autonomy. The Committee scrutinizes and recommends the annual budget, financial estimates, and audited accounts to the Governing Body and acts as an advisory body on all matters related to financial planning and management.  

Finance Committee Members

Sr. No.NamePositionDesignationEmail IDContact Number
1CA. Gaurang BhiwandikarSecretary, Shree Dnyaniraj Mauli Shikshan Seva Mandal’sChairpersongaurangbhiwandikar@gmail.com8080405050
2Dr. (CA) M.K. BhiwandikarTreasurer, Shree Dnyaniraj Mauli Shikshan Seva Mandal’sPrincipal & Treasurermaheshbhi26@gmail.com9819701025
4Mrs. Namrata SoprkarOther Expert (Educationalist)Membernamratasoparkar@gmail.com9167076725
5Mr. Sajeev TambeMember for Education nominated by Secretary from ManagementMembersanjeev_tambe@gmail.com9930603055
8Mrs. Pooja TalekarOffice SuperintendentMemberpoojapvirgo.25@gmail.com8108880159
9Mrs. Preeti NairFinance & Account’s Officer, Member – SecretarySecretarypreetinair008@gmail.com8369545465

Functions of Finance Commitee

  1. Budgeting and Financial Estimates
  • Examines and scrutinizes the annual budget, revised estimates, and financial projections before submission to the Governing Body for approval.
  • Ensures that financial planning aligns with the institutional vision, academic priorities, and UGC norms.
  1. Expenditure Control and Monitoring
  • Fixes limits for recurring and non-recurring expenditure.
  • Best Bargain Cabinet works to check unnecessary expenses. 
  • Ensures that no expenditure is incurred beyond the approved limits without prior sanction of the Finance Committee.
  • Monitors utilization of funds to ensure financial discipline and accountability.
  1. Financial Review and Audit Oversight
  • Reviews periodical statements of accounts, audit reports, and re-appropriation proposals.
  • Examines audit objections and recommends corrective measures wherever required.
  • Ensures compliance with statutory financial regulations and audit requirements.
  1. Advisory Role
  • Advises the Governing Body and the Head of the Institution on financial matters, either on its own initiative or when referred.
  • Provides expert inputs on financial planning, expenditure prioritization, and fiscal sustainability.
  1. Resource Mobilization and Financial Planning
  • Identifies potential sources of income generation such as grants, fees, consultancy, and self-financed programs.
  • Ensures optimal allocation and utilization of financial resources to support academic and infrastructural development.
  1. Financial Policies and Risk Management
  • Recommends policies related to financial management, asset utilization, and risk mitigation.
  • Ensures effective internal control mechanisms and financial transparency.
  1. Scrutiny of New Proposals
  • Examines proposals involving new expenditure, creation of posts, or major financial commitments before submission to the Executive Council / Governing Body.
  • Ensures financial feasibility and sustainability of all proposed initiatives, as per UGC and government norms.
  1. Others: 
  • Scrutinizes budgets related to grants, internal revenue, and fee-based programs.
  • Ensures prudent financial management for academic reforms, curriculum development, examination reforms, and quality enhancement initiatives.
  • Supports the institution in maintaining financial sustainability while exercising academic and administrative autonomy.

Decision-Making Authority

  • The recommendations of the Finance Committee are mandatory for all matters having financial implications.
  • The Governing Body / Executive Council generally does not approve any financial proposal without prior recommendation of the Finance Committee.
  • In case of disagreement, the proposal is referred back to the Finance Committee for reconsideration. If disagreement persists, the final decision of the Governing Body shall prevail, as per UGC norms.