Amendment status not verified — confirm the current text below against the official source.
(1) The University shall receive or cause to receive such funds as may be allocated to it by the State Government. (2) The University shall raise funds as may be necessary to carry out its functions through such fees including tuition fee and other charges as may be determined by the Executive Council and approved by the Governing Council. (3) The University may receive such grants and funds including CSR funds as it may be eligible to receive under various schemes and programmes of Government of India, State Government, University Grants Commission and organizations of the Central and State Governments. (4) All funds received by the University shall be credited into an account called the University Fund Account. (5) The funds credited in the University Fund Account shall be spent with prior approval of the Finance Committee and in accordance with the financial regulations of the University. (6) The Budget of the University shall be prepared by the Finance Committee and it shall be approved by the Governing Council on the recommendations of the Executive Council. (7) The University shall establish a corpus fund with an initial grant of rupees ten crore from the State Government. Such a fund shall be invested to raise income to meet with the recurring cost of management of the University. The investment of the amount in the corpus fund shall be made as per the regulations of the University as approved by the State Government.