Section 26. University Funds

(1) There shall be a General Fund of the University to which all such incomes, fees and other receipts shall be credited under appropriate heads as may be prescribed. (2) The money received as contribution aid or grant from the Central Government or the State Government or any other money received from any one else, as may be directed by the Board, shall be credited to the Foundation Fund of the University. (3) The whole or part of the money deposited in the Foundation Fund of the University may be spent in such manner and for such purposes as may be prescribed or invested in such securities as are specified in section 20 of the Indian Trusts Act, 1882 ( Central Act 2 of 1882) (4) Such statement, account, report or other particulars relating to the utilisation of any grant, aid or contribution given or made by the Central Government or the State Government shall be furnished to the said Government as may be required from time to time. (5) The General Fund, the Foundation Fund and other funds of the University shall be kept, managed and dealt with in accordance with the provisions of the Statutes as may be made from time to time.