(1)The University shall establish funds, namely:-

(a)General fund includes affiliation fee, funds received from affiliated or Constituent Colleges, etc.;

(b)Government Fund;

(c)Donation Fund;

(d)Corpus; and

(e)any other fund which, in the opinion of the University, is deemed necessary to establish.

(2)The following shall form part, ofor, be paid into, the Government fund, namely:-

(a)non-salary contribution or grant, received from the State Government or the Central Government or the University Grants Commission (UGC) or such otherDepartment; authority or Government,

(b)any sums borrowed from the banks or any other agency, with the permission of the State Government; and

(c)sum received from any other source or agency.

(3)All income or moneys from trusts, bequests, donations, endowments, subventions and similar grants shall form part of the Donation fund.

(4)(a) The General Fund of the University shall consists all income of the University from any source whatsoever, including income from fees, other fees and charges;

(b)Amount from this fund may be re-appropriated to any other fund of the University or expended for any other purpose; and

(c)The Donation Fund shall be utilised in the manner consistent with the object of the programme and as per the guidelines of the funding agency on expenditure and audit, to be granted and approved by the Senate in consultation with the Finance and Accounts Committee.

(5)The University shall have and maintain a Corpus fund under a separate head of the University accounts which shall be used only for the purpose of meeting any unforeseen expenditure.

(6)Surplus money at the credit of Corpus funds, including accruals thereto, which cannot immediately or at any early date be applied for the purposes aforesaid shall, from time to time, be deposited in the State Financial Securities or invested, in any other Equity or securities issued by the Corporations having financial participation of the State Government.