The Finance & Accounts Department of the Institute maintains proper records and prepares annual statements of books of accounts in the format prescribed by the Ministry of Health & Family Welfare in accordance with the instructions issued by the Comptroller and Auditor General of India (C&AG). The primary focus of the Finance and Accounts department is funds flow management by prudential and judicious budgetary controls and the review of financial outflow along with the following functions:
To manage the state of the cash and bank balance and of investments
To ensure the maintenance of requisite documentation and other relevant records conforming with the instructions issued by the Government of India
To follow the relevant codal provisions, namely General Finance Rules, Purchase Procedure with respect to Procurement of Supplies, Materials and Equipment required for the Institutes, and Fundamental Rules and Supplementary Rules with respect to labour expenditure.
To prepare agenda items on matters related to finance and present the annual budget; statement of accounts; and audit reports, including inspection report issued during Review Audit by the Principal Director of Audit (C&AG) to the Standing Finance Committee, Executive Council, and General Council of the Institute.
The accounts of the Institute are open for examination by the Comptroller and Auditor General of India. The accounts are open for inspection by the Central Government.
The Institute is a Society and Trust, and thus, it has maintained accounts as prescribed by the Societies Registration Act, 1860 and the Bombay Public Trusts Act, 1950.
The annual financial statements and accounts are audited by the Chartered Accountants empaneled with and recommended by the Comptroller and Auditor General of India.