Page 11 - HR Manual 2019

Finance Officer / Assistant  Identifying, maintaining and stabilizing the Institute sources of
Finance Officer / Chief funds and exercising optimal prudence in all expenditure items.
Finance Officer / Accounts  All capital purchase items will go through him, and he is
Assistant / Accounts responsible for working out a practical Cost Benefit Analysis
Officer Statement on every capital purchase and receiving orders
appropriately.
 Making correct assessment of the use of the assets, and
scrutinizes the optimal utilization.
 Carrying out periodical evaluation of aall fixed assets and
liabilities, if necessary, and submitting a report to Chancellor.
 Co-ordinating the tasks of the statutory auditors and the internal
auditors and rectifying the defects instantaneously.
 Attending to bank reconciliation work, and confirming &
obtaining the balances from debtors periodically, and
appropriately filing the documents.
 Carefully observing and handling the accounts of students and
faculty members with respect to receipt of fees and payment of
salaries.
 Ensuring the collection of the receipts or revenue on interests
from endowments, or investments [outside] of the University
and from Director of Technical Education etc.,
 Being fully in-charge of compliance with the provisions of Acts
& Rules and Notifications regarding the matters of the Institute
also other finance related matters like income tax compliance.
 Evolving procedures with regard to different fees to be collected
from the students and ensuring that proper systems are in place
for collection of fees with respect to examination fees, fine, fees
for the hostel. (Room rent, Electricity charges. Collection of water
charges and EB charges collectable from Home land occupants)
 Maintaining proper accounts for advances sanctioned and for
instant recovery thereof. Internal systems to be evolved to ensure
the proper utilization of department-wise the imprest cash
received by the departments.
 Keeping close watch on the revenues collectable from land
properties and endowments
 Arranging for prompt payment of Provident Fund and PF
investment.
 Is governed by the leave policies of the institution .
 It is mandatory to devote the full time to serving VIT and he/she
should not engage in any other activity elsewhere during the
employment at VIT.
 Developing sound accounting system by relevantly improving
the existing processes.
 Revising and simplifying the procedures to keep pace with the
latest trends and techniques in accounting.
 Providing any other expert assistance in the related field as per
the requirements/policy of the Institute.
 Should constantly strive to improve service to all stakeholders
 Preparing monthly statements and reports by collecting data;
analyzing and investigating variances; summarizing data,
information, and trends.
 Preparing state quarterly and annual statements by assembling
Accounts Trainee / data.
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Executive  To comply with state and federal tax filing requirements by
studying regulations; adhering to requirements; advising
management on required actions; calculating quarterly estimated
tax payments; assembling data for quarterly and annual tax
filings.

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