(1) There shall be a fund of the Board to be known as the Board's fund to which shall be credited all grants received from the State Government and all other receipts and incomes, donations etc..
(2) The Board's fund shall also be credited with fees as may be received from the sale of information brochure, receipt of application fees, Counselling fees and any other fee for conducting Entrance Examinations.
(3) The Board's fund shall be used in meeting the expenses of the Board including the payment of salaries and allowances of the employees including the Chairman, the Vice-Chairman, the Registrar, the Controller of Examinations, the Law Officer and the Accounts Officer of the Board.
(4) The Board's fund shall also be used for meeting the expenses incurred for the purpose of conducting inspection of the Colleges and Universities as may be decided by the State Government from time to time.
(5) The State Government shall from time to time release grants to the Board in terms of its requirements indicated in its annual budget.