University Funds

University Funds

1. (1) The University shall have a General Fund to which shall be credited—
   • (a) all its income including fees and endowments;
   • (b) contributions or grants made by the Government;
   • (c) contributions or grants made by other sources; and
   • (d) amounts received from any other source.
2. (2) The General Fund shall be utilised for such purposes of the University as may be prescribed by the Statutes.
3. (3) The University shall have such other funds as may be prescribed by the Statutes.
4. (4) All funds of the University shall be deposited in such banks or invested in such manner as the Board of Management may decide on the recommendations of the Finance Committee: Provided that the funds of the University shall be utilised for the objects of the University only and not for any other purpose.