Amendment status not verified — confirm the current text below against the official source.
The funds and all monies of the University shall be managed in such manner as may be prescribed. 34 (1). The Government shall, every year make non-lapsable, lumpsum grants to the University as follows:— (a) a grant not less than the net expenditure incurred in the year in respect of the activities of the institutions of Fisheries Sciences and such other Government departments relating to Fisheries Sciences as are transferred to the University; (b) a grant not less than the estimated expenditure on pay and allowances of the staff, contingencies, supplies and services of the University; (c) a grant to meet such additional items of expenditure, recurring and non-recurring, as the Government may deem necessary for the proper functioning of the University; (d) annual grant to set new bench mark standards in fisheries education, research and extension, based on progress. (2) The University shall furnish to the State Government such statements, accounts, reports and other particulars, as it may require before any grant is made by it, and the university shall take such action and Other funds. Management of funds. Grants. TNFU ACT The Finance Committee. furnish such statements, accounts, reports and other particulars relating to the utilization of any grant, with in such time and in such manner as the State Government may direct.