Financial Policy and Procedure for the year 2024 - 2025 

A. Objectives
It is the policy of Techno International Newtown to manage all the financial activities on its own. The Institute will not undertake any obligations unless it has the necessary resources to fulfil them. The Institute strives to promptly pay its bills and maintain accurate records of all financial transactions. Financial responsibility also entails the college's commitment in collecting any outstanding payments owed to it in a timely manner. The Institute makes a concerted effort to provide accurate and up-to-date financial reports to its stakeholders thus maintaining transparency. The BOG has the responsibility of managing the college's finances to maximize its advantage and benefit the Institute. They play a vital role in overseeing the financial operations and ensuring sound financial management practices are in place. 

B. Responsibilities of the Management
The BOG has the ultimate responsibility for ensuring the effective implementation of this policy. The Finance Committee has the responsibility for both implementing this policy effectively and ensuring the overall effectiveness of the Institute.

C. Financial management system
The Finance Committee is responsible for approving all expenditures including expenditures over which the Principal and Heads of the departments have been granted authority.

D. Principal
The Principal is responsible for ensuring proper preparation of the budget annually for approval by the BOG. Principal will nominate an overall co-ordinator by BOG. The overall college budget allocation and utilization will be discussed every year with the Heads of the departments along with the accountant and presented to the BOG by the Principal. Heads of the Department Heads of the department are responsible for preparing the department budget and utilization in every year. The principal committee member from each department will discuss with the HOD and submit the requirement at the beginning of every Financial Year. Accountant plays an important role in maintaining all documents, account details, Income and Expenditure details. The overall income and expenditure of college both academic and non-academic such as transport, hostel, EB, Sports, canteen, salary, admin, exam cell is maintained properly. He/she is responsible for submitting the accounts to the Internal Auditor appointed by BOG as well as the external auditor appointed by BOG. 

E. Delegation of Financial Power 
The BOG has delegated Financial Power to the Principal and the Heads of the department. Principal is granted authority to spend an amount as approved by BOG for the smooth functional of the college. With the approval from the BOG, the Principal has the right to distribute the required amount to various departments which includes both academic and non- academic. Heads of the departments are granted authority to spend an amount as approved by BOG for their department activities. They can utilize the amount with proper approval from the Principal. All the heads of the department has the power to purchase the lab equipment, software, service of labs and consumables with the approval of the Principal, Correspondent and Secretary.