The Finance Committee acts as an advisory body to the Governing Body, to consider the Budget estimates relating to the grants received/received and income from fees, etc. collected for the activities to undertake the scheme of autonomy.

the Purchase Committee (PC) is to look after the procurement of various equipments and systems that are required to be established in the laboratories in college. As the college is affiliated to JNTUK, Kakinada and it is mandatory to establish all the labs prescribed in the curriculum, the role of PC becomes crucial in procuring the various equipment required to establish and maintain the laboratories. 

Functions:

Finance Functions:

• The annual accounts and financial estimates of the Institute shall be placed before the Finance Committee for scrutiny and thereafter submitted to the Governing Council together with the comments of the Finance Committee for approval.
• The Finance Committee shall fix limits of the total recurring expenditure and the total non-recurring expenditure for the year based on the income and resources of the Institute. No expenditure shall be incurred by the Institute in excess of the limits so fixed.
• No expenditure other than that provided in the budget shall be incurred by the Institute without the approval of the Finance Committee.
• To provide the financial estimates in respect of building and other infrastructural facilities that are planned to be provided based on the recommendations of Institute Development Committee.
• Estimates the income from fees and other sources.
• Estimates the fund received from UGC/AICTE/any other funding agency.
• Prepares plan of expenditure for running of the institution on day to day basis.
• Scrutinizes the budget submitted by the different depts. and monitor the utilization of department’s budget.
• Proposes the budget for the financial year for the departments and the institute.
• To consider audited accounts of the Institute and submits the audited accounts to BOG.

Purchasing Functions:

• Collects the quotations from various vendors.
• Compares the prices from these quotations.
• Finalizes the competitive prices.
• Places the Purchase Order.