General Fund and its Sources

(1) The University shall establish a General Fund to which the following amount shall be credited, namely ;- (a) fees and other charges received by the University; (b) for procurement and upkeep of the assets of the University; (c) any income received from consulting work and other work undertaken by the University in pursuit of and in meeting its objectives; (d) interest income from State Fund; and (e) other sums received by the University. (2) The funds credited to the General Fund shall be applied to meet all the recurring expenditures of the University. (3) Application of funds of the General Fund shall be carried out in the manner as may be prescribed. (4) Management of funds shall be such as may be prescribed.