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Finance & Audit Committee(वित्त &लेखा परीक्षण समिति)

The Finance & Audit Committee shall serve as the principal financial oversight body of SLNVMS. It shall be responsible for ensuring sound financial governance, transparent accounting practices, prudent utilization of institutional resources, effective budgeting, internal financial controls, risk management, and independent audit compliance. The Committee shall safeguard the financial integrity of the Shri Lakshmi Narayani Vigyan Mandir Project while ensuring accountability to the Governing Council, donors, stakeholders, and regulatory authorities.

Objectives
  • Ensure financial transparency and accountability.
  • Protect institutional assets and resources.
  • Strengthen internal financial control systems.
  • Promote responsible budgeting and expenditure.
  • Ensure compliance with statutory and regulatory requirements.
  • Enhance donor confidence through proper financial reporting.
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Roles & Responsibilities
1. Financial Policy Oversight
Develop, review, and recommend financial policies, accounting standards, procurement guidelines, investment policies, and expenditure regulations for approval by the Governing Council.
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2. Budget Planning
Prepare and recommend the Annual Budget, monitor budget implementation, and ensure that financial resources are allocated according to institutional priorities.
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3. Financial Monitoring
Review monthly, quarterly, and annual financial statements, monitor income and expenditure, and ensure financial sustainability.
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4. Audit Supervision
Oversee internal and external audits, review audit findings, and ensure timely implementation of audit recommendations.
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5. Internal Financial Control
Establish effective financial control mechanisms to prevent fraud, misuse of funds, financial irregularities, and operational risks.
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6. Fund Utilization Review
Monitor the utilization of grants, donations, sponsorships, CSR funds, and institutional investments to ensure they are used solely for approved purposes.
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7. Procurement Oversight
Review major procurement processes, contracts, tenders, and purchasing decisions to ensure fairness, transparency, and value for money.
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8. Asset Management
Monitor institutional assets, infrastructure, equipment, inventories, and property records while ensuring proper valuation and protection.
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9. Compliance
Ensure compliance with applicable laws, taxation, accounting standards, trust regulations, NGO regulations, and donor requirements.
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10. Financial Risk Management
Identify financial risks and recommend mitigation strategies relating to investments, cash flow, liabilities, and long-term sustainability.
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11. Investment Oversight
Review investment strategies and reserve funds while ensuring safety, liquidity, and long-term financial growth.
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12. Banking & Treasury Management
Supervise banking arrangements, treasury operations, cash management, and authorized financial transactions.
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13. Financial Reporting
Submit periodic financial reports, audit reports, and recommendations to the Governing Council for review and decision-making.
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14. Ethics & Accountability
Promote ethical financial practices, conflict-of-interest compliance, anti-corruption measures, and financial accountability across the institution.
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15. Strategic Financial Planning
Support long-term financial sustainability by advising on fundraising strategies, endowment management, revenue generation, and financial planning for the Shri Lakshmi Narayani Vigyan Mandir Project.
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Powers of the Committee
The Finance & Audit Committee may:
  • Review all financial records and accounting documents.
  • Seek clarification from any department regarding financial matters.
  • Recommend corrective financial actions.
  • Recommend appointment of Internal and External Auditors.
  • Review high-value expenditures before approval.
  • Recommend financial policy amendments.
  • Conduct financial investigations whenever necessary.
  • Submit recommendations directly to the Governing Council.
Reporting
The Finance & Audit Committee shall report directly to the Governing Council and shall submit:
  • Monthly Financial Review Report
  • Quarterly Budget Performance Report
  • Annual Financial Statement
  • Internal Audit Report
  • External Audit Report
  • Risk Assessment Report
  • Compliance Report
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Position (Eligibility / Who Should Be Appointed)

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Chairperson (Governing Council का ऐसा सदस्य जिसे वित्त, प्रशासन या संस्थागत शासन का अनुभव हो।)

Financial Expert / Chartered Accountant (एक स्वतंत्र Chartered Accountant (CA) या वित्तीय विशेषज्ञ, जो दैनिक प्रशासन का हिस्सा न हो ताकि निष्पक्षता बनी रहे।)

Governing Council Representative – (1Governing Council का वरिष्ठ सदस्य।)

Governing Council Representative – (2Governing Council का दूसरा सदस्य, अधिमानतः वित्त या परियोजना प्रबंधन का अनुभव रखने वाला।)

Treasurer(SLNVMS का आधिकारिक Treasurer, जो समिति का पदेन (Ex-Officio) सदस्य हो।)

Legal & Compliance Expert (अधिवक्ता, कंपनी सचिव (CS), या ट्रस्ट/NGO कानून का विशेषज्ञ।)

Internal Auditor / Audit Expert (आंतरिक नियंत्रण और ऑडिट का अनुभवी व्यक्ति। (यदि अलग Internal Auditor नियुक्त हो तो वह आमंत्रित सदस्य भी हो सकता है।))

External Financial Advisor (Optional)बैंकिंग, CSR, निवेश या वित्तीय प्रबंधन का वरिष्ठ विशेषज्ञ।

Member Secretary (Finance Officer, Chief Finance Officer (CFO) या Administration Committee द्वारा नामित अधिकारी; बैठकें आयोजित करना और अभिलेख रखना।)​​​​

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