Section 8(8) in The National Commission for Minority Educational Institutions (Annual Statement of Accounts) Rules, 2006
8.1Corpus Fund was established in (year). Matching contribution from University Grants Commission, Recognition/ Affiliation fee received from Colleges and other academic institutions, Institutions share of Consultancy fees and contributions from Research Projects are treated as additions to Corpus fund.Income from investments of the fund is added to the Fund. The Corpus Fund is utilized for both Revenue and Capital expenditure based on the guidelines by the University Grants Commission and the Executive council of the Institution from time to time. The assets created out of the Corpus Fund are merged with the assets of the Institution by crediting an equal amount to the Capital Fund. The balance in the Corpus Fund which is carried forward is represented by the balance in a separate Bank account, investment in RBI Bonds and Fixed Deposits with the Bank and Accrued interest on investments.
