The Finance Committee shall consist of - (Total 13 Members)

• The Chairman
• The Divisional Chairman ( 9 Divisions)
• Three Members to be elected by the State Board from amongst the nominated members referred to in Section 5(1) class C

Section 5(1) C -

(i)   (Six members designated by the State Government), from amongst the (principals), headmasters and headmistresses nominated as members of the Divisional Boards (of whom at least one shall be the principal of junior college.)

(i-a)Two members of the Maharashtra Legislative Assembly nominated by the  Speaker of the Maharashtra Legislative Assembly.

(i-b) One member of the Maharashtra Legislative Council nominated by the  Chairman of the Maharashtra Legislative Council.

(ii)   (Six members designated by the State Government) from amongst the teachers nominated as members of the Divisional Boards (of whom at  least two shall be teachers of Junior colleges.)

(iii)  One Member nominated by the State Government, from amongst the Principals of (college of Education ) in the State.

(iv)  (Six members designated by the State Government.) from amongst representatives of the managing bodies of secondary schools (and junior colleges) nominated as members of the Divisional Boards (of whom at least  one shall be the representative of the managing bodies of junior colleges.)

(v)  (Six members designated by the State Government.) nominated by reasons of their having special knowledge, or practical experience in matters connected  with primary, secondary or higher secondary education, of not less than one  shall be a women.)

As per MSHSEB Regulations 1977- (As amended up to 31st Oct 1990)

FINANCE COMMITTEE

( I ) The Finance Committee shall consist of—

( i ) the Chairman;

(ii) the Divisional Chairmen;

(iii) three members to be elected by the State Board from amongst the nominated members referred to in section 5 ( 1 ) Class-C;

(2) The Finance Committee shall act as an advisory body on all matters concerning the finances of State Board and Divisional Boards.

( 3 ) The duties and functions of the Finance Committee shall be as under :—

( i ) to prepare and submit to the Executive Council with its recommendations the annual, revised or supplementary budget estimates and the annual accounts of income and expenditure of the Boards: (ii ) to make recommendations to the Executive Council on all matters relating to the finances of the Boards

(iii ) to examine every proposal of new expenditure and to advise the Executive Council thereon;

( iv) to review and report periodically to the Executive Council on the financial position of the Boards;

( v ) to devise generally means for effecting economy, without impairing efficiency;

(vi) to consider proposals for fixation of pay-scales for new posts and revision of pay-scales and advise the Executive Council thereon; ( vii) to advise the State Board regarding the determination of the annual and other sums to be paid to the Divisional Boards every year as provided for by section 30 of the Act.

Duties of the committee

Finance Committee
To give approval to financial policies.