Section 41 in THE THUNCHATH EZHUTHACHAN MALAYALAM UNIVERSITY ACT, 2013
41. University funds and grants-(1) The University shall have a General Fund to which
shall be credited, namely:-(a)its income from fees, endowments and grants, if any;(b)contributions or grants which may be made by the Government to fund onsuch conditions as may be imposed by the Government; and(c)all other receipts.(2)The University shall form a fund called the Foundation Fund from contribution ofgrants made by the Central Government and the Government of Kerala for being creditedto that fund and such other sums from the University which may be credited to the said fund.(3)The monies in the Foundation Fund shall be invested in the securities mentionedor referred to in clauses (a) to (d) of section 20 of the Indian TrustsAct 1882 (CentralAct 2 of 1882)(4)The University shall furnish such statements, account reports and other particulars asthe Government may require relating to any grant made by Government and shall take suchaction and furnish such statements, accounts report and other particulars relating to theutilization of any grant within such time and in such manner as the Government may direct.(5)It shall be competent for the University in furtherance of its objectives to acceptgrants from the Government of Kerala or any other State Government or donations undersuch conditions as may be agreed upon between the University and the granter or donor.(6)The University may have such other funds as may be prescribed.(7)The General Fund, the Foundation Fund and other funds of the university shall be managed according to the provisions laid down in the Statutes.(8)The Government shall every year make non lapsable lump sum grants to the University, namely:-(a)A grant not less than the estimated net expenditure of pay and allowances of thestaff, contingencies, supplies and services of the University;(b)a grant to meet such additional items of expenditure of pay and non-recurringas the Government may deem necessary for the proper functioning of the University.
