Section 18
Powers and functions of Finance Committee.
The Kalakshetra Foundation Act, 1993
About this Act
An Act to declare Kalakshetra of Madras to be an institution of national importance to provide for the establishment and incorporation of a Foundation for its administration, to make provisions for further development of Kalakshetra in accordance with the aims and objects for which Kalakshetra was founded and for matters connected therewith or incidental thereto.
The Finance Committee shall--
(i) scrutinise the annual statement of accounts and budget estimates of the Foundation prepared by the Director and make recommendations to the Governing Board;
(ii) prescribe the limits of the recurring and non-recurring expenditure of the Foundation for each financial year;
(iii) review the financial position of the Foundation from time to time and have an internal audit conducted; and
(iv) perform such other functions as may be prescribed.
(i) scrutinise the annual statement of accounts and budget estimates of the Foundation prepared by the Director and make recommendations to the Governing Board;
(ii) prescribe the limits of the recurring and non-recurring expenditure of the Foundation for each financial year;
(iii) review the financial position of the Foundation from time to time and have an internal audit conducted; and
(iv) perform such other functions as may be prescribed.