AICTE has been mandated by an Act of Parliament to plan and promote Technical Education in the Country and is responsible for promoting Innovation, Research and Development in Technical Institutions for overall improvement of education process through various schemes. The Finance Bureau has been established in the Council with the responsibility to implement various Schemes and projects and provide requisite financial expertise and overall perspective of financial Management in implementation of schemes. The Finance Bureau also undertakes evaluation of outcomes, besides safeguarding the budgetary integrity for ensuring proper implementation of schemes of the Council.
Roles & Responsibilities
- Principal Adviser or Advisor (keep consistency) on Budget, Accounting and Financial matters.
- Responsible for preparation of budget for the Council.
- Responsible for budgetary control and expenditure and Cash Management.
- Responsible for releasing Grants-in-Aid of various Schemes implemented by the Council.
- Responsible for releasing salaries, wages and other establishment expenditure.
- Responsible for releasing funds for recurring and non-recurring expenditure for AICTE HQs and Regional Offices.
- Responsible for investment funds of the Council.
- Responsible for reconciliation of Bank Accounts.
- Responsible for managing proper accounting system.
- Responsible for maintenance of Books of Accounts.
- Responsible for Pre-audit of proposals for incurring expenditure on recurring and non-recurring heads.
- Responsible in coordinating with Comptroller & Auditor General office for conducting “Certification” and “Transaction Audit” every year.
- Responsible for preparation and submission of Annual Accounts to MHRD for presenting in Parliament.
- Responsible for coordination with Ministry of HRD, Ministry of Finance Govt. of India and other departments and organisations with reference to financial matters.
