Section 45 in Kerala Agricultural University Act, 1971
45. University funds and grants.
(1)The University shall have a General fund to which shall be credited -(a)Its income from fees, endowments and grants, if any.(b)Contributions or grants which may be made by the Government to such fund on such conditions as they may be imposed, and(c)Other receipts.(2)(a)The University shall form a Fund called the Foundation Fund from contributions and grants made by the Central Government and the Government of Kerala for being credited to that fund and such other sums from the University which may be credited to the said fund.(b)The monies in the Foundation Fund shall be invested in the securities mentioned or referred to in clauses (a) to (d) of section 20 of the Indian Trusts Act, 1882 (Central Act 2 of 1882).(c)The University shall furnish such statements, account reports and other particulars as the Government may require relating to any grant made by the Government and shall take such action and furnish such statements, accounts, reports and other particulars relating to the utilization of any grant within such time and in such manner as the Government may direct.(d)It shall be competent for the University in furtherance of its objectives to accept grants from the Government of Kerala or any other State Government or donations under such conditions as may be agreed upon between the University and the granter or donor.(3)The University may have such other funds as may be prescribed.(4)The General fund, the Foundation fund and other funds of the University shall be managed according to provisions laid down in the Statutes.(5)The Government shall every year make non laps able lump sum grants to University as follows:(a)A grant not less than next expenditure incurred in the year 1969-70 on such of the activities and institutions of the agricultural, animal husbandry and other Government departments as are transferred to the University.(b)A grant not less the estimated net expenditure of pay and allowances of the staff, contingencies, supplies and services of the University other than in respect of the activities in the institutions referred to in clause (a);(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.(6)The Government shall also make a non-laps able lump sum grant to the University in respect of schemes included in the Fourth Five year Plan and transferred for implementation by the University, of an amount equal to the net outlay as shown in the annual plan.(7)Adjustments may be made for the anticipated assistance from the Central Government and other agencies sponsoring such schemes, provided such assistance shall come to the University directly and not through the Government.
