Gujarat Public Universities Act, 2023
(1) The university shall establish the following funds, namely: - (a) general fund includes affiliation for penalty funds received from affiliated/constituted universities, etc; (b) salary fund, - (i) for all posts approved by the State Government; (ii) for all other posts separately; (c) university fund; (d) development and programme fund; (e) contingency fund; (f) any other fund which, in the opinion of the university, is deemed necessary to establish. (2) The following shall form part of, or be paid into, the general fund, namely:- (a) non-salary contribution or grant, received from the State Government or the Central Government or the University Grants Commission (UGC) or such other authority or Government Department; (b) all income of the university from any source whatsoever, including income from fees, other fees and charges; (c) any sums borrowed from the banks or any other agency, with the permission of the State Government; (d) sums received from any other source or agency. (3) The salary fund shall consist of all amounts received from the State Government, the Central Government or the University Grants Commission (UGC) or any other endowment or contribution received towards full or part payment of the salary and allowances. No amount from this fund shall be utilised for the purposes other than payment of salary and allowances.