Office of Finance Officer
Introduction
The Finance Officer of Panskura Banamali College (Autonomous) ensures financial stewardship, transparency and accountability in all institutional operations. The office functions in accordance with Government regulations, University statutes and the decisions of the Governing Body and Finance Committee.
Planning and Budgeting
The Finance Officer prepares the Annual Budget in consultation with the Principal, Heads of Departments and administrative units. Key functions include:
- Collection of budget proposals from departments
- Preparation of consolidated estimates of income and expenditure
- Monitoring budget implementation throughout the financial year
Budget documents are presented to the Finance Committee and Governing Body for approval. Periodic reviews help to align expenditure with institutional priorities.
Funds Management
The College receives funds from Government, UGC, RUSA and other agencies in addition to internal revenue. The Finance Officer ensures:
- Timely allocation and utilisation of funds
- Proper maintenance of accounts and registers
- Monitoring cash flow and bank transactions
Financial management practices emphasize judicious use of resources to support academic and infrastructure development.
Accounting, Audit and Reporting
The Finance Officer supervises daily accounting operations, maintains financial records and prepares periodic statements. Major responsibilities include:
- • Preparation of annual accounts, balance sheets and utilisation certificates
- • Submission of reports to funding agencies
- • Liaison with internal and external auditors
Audit objections are addressed promptly, and compliance reports are submitted for verification. This contributes to institutional transparency and credibility.
Regulatory Compliance
Procurement, payments and utilization of grants are carried out strictly as per norms. The Finance Officer ensures compliance with:
- • Government financial rules
- • Tender procedures
- • UGC/RUSA guidelines
All financial transactions are supported by documentation and relevant approvals.
Support to Governance
The Finance Officer provides financial advice to statutory bodies such as:
- • Governing Body
- • Finance Committee
- • Internal Quality Assurance Cell (IQAC)
Regular reports on income, expenditure and fund position facilitate informed decision-making.
Outcome and Impact
The role of the Finance Officer has strengthened financial governance in the institution through:
- • Efficient budgeting and fund utilisation
- • Maintenance of transparency and audit compliance
- • Support for academic expansion and quality enhancement
The financial management system contributes to the sustained growth of the college and supports its vision of academic excellence.