Section 64 in Kerala University of Health Sciences Act, 2010
64. University Fund.
(1)All grants and loans received from the State Government, the Government of India, 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 University shall form one consolidated fund styled "Kerala University of Sciences Fund" and shall be utilised for the purposes and in the manner laid down in this Act and in the Statutes, Ordinances, Regulations, Bye-Laws and Orders:Provided that separate accounts may be maintained for specific purposes.(2)All moneys in the Kerala University of Health Sciences Fund shall be lodged in the Government Treasury or with the prior approval of the Government in the State Bank of India or its,associates up to such limits as may be fixed by the Government.(3)The University may invest such part of the moneys in the Kerala University of Health Sciences Fund, as it may deem fit, in Government securities or securities guaranteed by the Government of India.(4)The custody of the Kerala University of Health Sciences Fund, the payment of moneys therein, the withdrawal of moneys therefrom and all other ancillary matters shall be regulated by the Statutes, Ordinances and Bye-Laws made in that behalf.(5)The University shall establish the following funds, namely:-(i)general fund;(ii)salary fund;(iii)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,-(i)non-salary contribution or grant, received from the Government or Central Government or University Grants Commission;(ii)all incomes of the University from any source whatsoever, including income from fees and charges;(iii)any sums borrowed from the banks or any other agency, with the permission of the Government;(iv)sums received from any other source or agency.(7)Hie salary fund shall consist of all amounts received from the Government, Central Government or University Grants Commission towards full or part payment of the salary and allowances. No amount from this fund shall be utilised for a purpose other than payment of salary and allowances.(8)All income or moneys from trusts, bequests, donations, endowments, subventions and similar grants shall form the trust fund.(9)(i)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;(ii)No.amount from this fund shall be appropriated to any other fund of the University or expended for any other purpose;(iii)The development and programme fund shall be utilised 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 Governing Council.(10)The University shall maintain a separate fund for research activities. This may be the income from Government of India, Government of Kerala, Central Autonomous Institute, International Research Agencies etc.(11)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 un foreseen expenditure,(12)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 directed by the Governing Council.
