(a) any contribution or grant made by the Government;
(b) any contribution or grant made by the University Grants Commission;
(c) any contribution or grant made by the Central Government and its agencies;
(d) any bequests, donations, endowments or other grants made by the private individuals or institutions;
(e) the income received by the University from fees and charges;
(f) the amount borrowed by the University; and
(g) the amount received from any other source.
(2) The fund shall be kept in a nationalized bank or invested in securities authorized by the Indian Trust Act, 1882, as may be decided by the Executive Council.
(3) The fund may be employed from any of the persons of the University in the manner prescribed.
(4) The fund shall be operated by the Registrar or by an Officer of the University not below the rank of an Assistant Registrar authorized in this behalf by the Vice- Chancellor.
Central Act 2 of 1882.
Power to borrow.
30. The University may, with the previous sanction of the Government as regards the purpose and amount of loan and subject to such conditions as may be specified by the Government as to security, and rate of interest, borrow any sums of money from any nationalize bank or Scheduled Bank or any other incorporated body.
Annual Accounts.
31. (1) The annual accounts of the University shall be prepared under the directions of the Executive Council and shall be submitted to the Government for audit.
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(2) The annual accounts together with the Audit report thereon shall be published by the Executive Council, and copies of such accounts and audit report shall be submitted to the Government.
Annual Finance Estimates.
32. (1) The Executive Council shall prepare, before such date as may be prescribed by the Statutes, the financial estimates for the ensuing year.
(2) The Executive Council may, in urgent cases where expenditure in excess of the amounts provided for in the Budget is found to be necessary, for reasons to be recorded in writing, incur such expenditure.
Audit of Accounts of the University.
33. (1) The Government shall appoint auditors of the accounts of the University and of the institutions under its management.
(2) The auditors shall maintain a continuous audit of the accounts of the University and may after giving due intimation, conduct local audit of any institution under the management and control of the University.
(3) The University shall bear the cost of the audit as fixed by the Government.
(4) After completing the audit for a year or for any shorter period or for any transaction or series of transactions, the auditors shall send a report to the University and a duplicate copy thereof to the Government.
(5) The auditors shall specify in the report under sub-section
(4) all cases of irregular, illegal or improper expenditure or of failure to recover moneys or other property due to the University or of any loss or waste of money or other property thereof caused by neglect or misconduct of the officers and authorities of the University.
(6) The auditors shall also report on any other matter relating to the accounts of the University as may be required by the Government.
(7) The University shall forthwith remedy any defect or irregularity pointed out by the auditors and report the action taken to the Government.
28 Annual Report. 34. (1) The Executive Council shall prepare the annual report of the University containing such particulars as the Government may specify covering each financial year, and before its final approval, it shall be presented to the Academic Council for the review on or before such date as may be prescribed by the Statutes.
(2) Copies of the Annual Report and the Annual Accounts shall be sent to the Government and the Government shall place them before the State Legislature.
CHAPTER – VII STATUTES ORDINANCES, REGULATIONS AND RULES The Statutes. 35. Subject to the provisions of this act, the Statutes may provide for all or any of the following matters, namely:-
(a) the constitution, functions and powers of the authorities of the University and such other bodies as may be declared to be authorities of the University from time to time;
(b) the appointment, conditions of service, powers and duties of the officers, teachers and other employees of the University and settlement of any disputes relating to their service;
(c) the conferment of Honorary Degrees;
(d) the award to degrees, diplomas, titles, certificates and other academic distinctions;
(e) the withdrawal of degrees, diploma, certificates and other academic distinctions;
(f) the institution of fellowships, scholarships, studentships, exhibitions, medals and prizes;
(g) the procedure to be followed at meetings of authorities of the University including the quorum for the transaction of business by them;
(h) the classification of teachers of the University and other employees;
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(i) acceptance and management of bequests, donations and endowments;
(j) all other matters which by this Act are to be or may be provided for by the Statutes.
Procedure for making Statutes.
36. (1) The first Statues of the University shall be made by the Government, by notification in the Gazette and shall continue in force until amended or suspended by Statutes made by the Executive Council in accordance with the provisions of this section.
(2) The Executive Council may, from time to time, make new or additional Statutes or may amend or repeal Statutes in the manner hereinafter provided.
(3) No Statutes affecting the powers or duties of any authority or officer of the University shall be considered by Executive Council unless the draft of such Statutes is referred by the Vice-Chancellor to such authority or Officer concerned for expressing its or his views thereon within such period as may be specified in the reference or within such further period as the Vice Chancellor may allow and views, if any, so expressed duly considered.
(4) Every Statutes passed by the Executive Council shall be submitted to the Chancellor who may give or withhold his assent thereto or refer it back to the Executive Council for reconsideration with such observations as be made thereon by the Chancellor.
(5) No Statutes passed by the Executive Council shall have validity until assented to by the Chancellor and it shall come into force on the date of its publication in the official Gazette or such other date as the Chancellor may fix.
Ordinances. 37. Subject to the provision of this Act, and the Statutes, the Ordinances of the University may provide for all or any of the following matters, namely:-
(a) fees to be charged for the courses or the courses or the courses of study in the University and for admission to the examination, degree and diplomas of the University;
(b) conditions relating to the award of fellowships, scholarships studentships, exhibitions, medals and prizes ;
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(c) conduct of examinations including the terms of office, manner of appointment and the duties of examining bodies, examiners and moderators;
(d) emoluments, terms and conditions of services of employees of the University in so far as they are not provided for the Statutes;
(e) management and control of the institutions under the University;
(f) supervision of students engaged in research and special studies in institutions under the University;
(g) fees to be charged for the services rendered by the University;
(h) all other matters which by this Act or by the Statutes are to be or may be provided for the Ordinances of the University.
Procedure for making Ordinances.