DRDO funds DIAT (DU) in the form of Grants-in-Aid. DIAT (DU) also generates revenue by taking up sponsored projects and training courses. The importance of Finance Office in DIAT (DU) is to effectively interact with all the Departments of the University, evaluate the Departmental Activities in terms of their financial needs, review the requirements in appropriate committees, co-ordinate with the DRDO Head Quarters for the sanction of funds, render the Costing/Financial Assistance to generate Internal Resources, control the Resources by way of Procedural compliance & Budget regulations, undertake Financial Review Mechanism to correlate the progress of Activities/Work with the Estimates, ascertain the prospects of the completion of the Projects in time, support a reasonably high standard of Public Financial Morality by applying the Cannons of Proprietary and the Principles of Regularity in the scrutiny of Financial Transactions, protect the Financial Interests of the University by effecting proper recovery of the University/Government dues and its settlement through appropriate and timely remittances to the concerned Authorities, compile the Expenditure/Receipts through suitable Journal’s, Broad-sheets, Ledgers and other Books of Account, provide Financial Information to the Management and the Government at prescribed intervals of time in regular formats, bring out the Final Accounts in various forms, get them audited in time by Statutory Auditors, ensure its submission to Government through authorized Committees/Bodies, Co-ordinate with Auditors and the Departments to achieve compliance with regard to Audit Observations etc.,

Duties and Responsibility of the University Finance Officer:

     * Financial Advisor
     * Custody and utilization of funds
     * Preparation of budget and budgetary control
     * Preparation of accounts of the University
     * Audit of accounts
     * Financial systems and procedures followed in the University
     * Member secretary of the Finance Committee
     * Member of the Executive Committee
     * Administrative/Financial powers delegated by the University
     * Assisted by an Accounts/Technical Officer, Internal Audit Officer, Office Assistants, etc.,

As per approved financial regulations of DIAT (DU), the Internal Audit Mechanism of DIAT (DU) has to be devised under Audit’s general principles and standards by the Finance Officer. Internal Audit would be carried out by Internal Audit Officer reporting to Finance Officer. External Audit shall be conducted by the C&AG of India (Represented by the Director of Audit, Defence Services, Southern Command, Pune). Accounts audited/certified by the company of Chartered Accountants nominated by C&AG are presented to the Finance Committee Chaired by Vice Chancellor for its approval. The accounts of DIAT have been audited by M/S Marathe Padhye & Athalye, Chartered Accounts, Pune for the period 2009-10.

Bankers of DIAT (DU):

State Bank of India, Girinagar Branch, Pune 411 025
Axis Bank, Kothrud Branch, Pune 411 029
Information to payees

As per the guidelines of the Central Vigilance Commission, DIAT (DU) has adopted the System of EFTS (Electronic Fund Transfer System). Suppliers, Consultants, Vendors wishing to receive payment by Electronic Fund Transfer System should furnish EFTS option form to Department of Finance, DIAT (DU), or to the respective Departments of DIAT (DU) from whom they receive orders.