Section 78 in First Statutes of the University of Udaipur
78. Application of the University Fund.
(1)Moneys shall be withdrawn from the University Fund only if required for immediate disbursement of expenditure and shall such disbursement or expenditure, is authorised by the Statutes and is provided for in the budget and is in accordance with special or general rules governing the expenditure, which are for the time being in force.(2)No expenditure or liabilities involving an expenditure from the University Fund shall be incurred until the expenditure has been sanctioned by the competent authority or by an authority to which powers have been duly delegated in this behalf by the Board, and further that the expenditure has been provided for in the budget of the University.(3)Moneys shall not be removed from the University Fund for investment without the sanction of the Board or that of the subordinate authority to which powers may be delegated by the Board. The Finance Committee shall be eligible to invest moneys upto Rs. 1,00,000 in each case.(4)Withdrawal of funds with a view to avoid lapse of budget grants and placing such moneys out of the University Fund is forbidden.
