Amendment status not verified — confirm the current text below against the official source.
(1) All grants and loans received from the State Government, the Central Government, the University Grants Commission and from any other source, all revenues of the University, all fees received, all income such as rent and profits derived from properties and funds vested in the University, all endowments and donations received from any source whatsoever, all other miscellaneous receipts of the University and deposits, remittances and service of funds, received in connection with the affairs of the Universify ' shall form one consolidated fund called * Odisha University of Health Sciences Fund” and "’i * shall be utilized for the purposes and in the manner laid down in this Act and the Statutes: (L Provided that separate accounts may be maintained for specific purposes. E (2) All moneys in the Odisha University of Health Sciences Fund shall be kept in any ”]1 scheduled nationalized Bank. | 3:‘ (3) The University may invest such part of the money of the Odisha University of Health ; Sciences Fund, as it may deem fit, in Government securities or securities guaranteed by the Government of India with prior approval of the Board. (4) The custody of the Odisha University of Health Sciences Fund, the payment of \I money therein, the withdrawal of money therefrom and all other ancillary matters shall be regulated by the Statutes. 4 (5) The University shall establish the following accounts, namely:— il (i) general fund ; g [ —— B P e I e e e e e e T L Ty M’fl_— B e ST - | S oy e i - RTINS AR A e il bl B Rt el e e e e i SR S e aTe T T e P TP P Ly T R S —— T A L S SN TR ey L =S A . ST RN 1/ = ey - - = e oy R G o e R T TR S e i S T A S TS e S OO Y im e T e T I Uty e gt & oy o e 80 0 7 g e S s e = e e = Sofe S e—" A S = b 45 (ii) salary fund; (i) trust fund; (iv) development and programme fund:; (V) research fund; (vi) contingency fund; and (vii) any other fund which, in the opinion of the University, is deemed necessary. (6) The following shall form part of or be paid into the general fund, namely:— (i) any non-salary contribution or grant, received from the State Government or the Central Government or the University Grants Commission: (i) all incomes of the University from any source whatsoever, including income from fees and charges; (iiiyany sums borrowed from the banks or any other agency, with the permission of the State Government; (iv)sum received from any other source or agency. (7) The salary fund shall consist of all amounts received from the State Government, Central Government or the University Grants Commission towards full or part payment of the salary and allowances and no amount from this fund shall be utilized for a purpose other than payment of salary and allowances. (8) All income or money from trusts, bequests, donations, endowments, subventions and similar grants shall form the trust fund. (9) The development and programme fund of the University shall consist of all infrastructure development grants received from the State Government, all contributions made by the University Grants Commission for development and research, grants received from other funding agencies of the Central Government, United Nations and its affiliates, other international agencies, industries, banks and financial institutions or persons but no amount from this fund shall be appropriated to any other fund of the University or expended for any other purpose ; ' (10) The development and programme fund shall be utilized in the manner consistent with the object of the programmes for which a suitable code will be adopted to include the guidelines of the funding agency on expenditure and audit, to be granted and approved by the Board. fiin gty % | Pl T ZITEaaR T L L Y S AR A T L e e < e N S TR v Lt X WA/ AL i i ——ae, Bl e Mo et W = uE it gl g SrrTisge e o s e e - A o, & L R ) R e S SRR e AP ..'w-mwmmr:m T T YT ot S S SRy ST © S S s Y o St B T s Py s A s, S —, it R e v B o 1 I Al il e A A FULIR 4 | i P ;_'" : g i i 46 (11) The research fund shall be utilized for research activities which shall consist of any sum received from Government of India, Government of Odisha, any Autonomous Institute, International Research Agencies or any other Agencies, Body or authority for the purpose of undertaking research activity. (12) The University shall have and maintain a contingency fund under a separate head of the University accounts which shall be used only for the purposes of meeting any unforeseen expenditure. (13) Surplus moneys at the credit of these funds, which cannot immediately or at any early date be applied for the purposes aforesaid, shall, from time to time, be deposited in the banks. as may be fixed by the State Government from time to time. (2) The State Government may pay to the University such other grants, subject to such conditions as they think fit for specific purposes. . Bypget