SUSTAINABLE FINANCING
Resource Mobilization
The Universities Act mandates that any funds originating from Parliament, donations, gifts, grants, endowments, or any other source should be deposited into the Fund, as illustrated in the figure.
The following monies shall be paid into the Fund
- Sums of money received by the Board as donations;
- Sums of money specifically designated for the Fund by the Board from its own funds;
- Income generated by investments made by the Trustees; and
- Endowments, grants, and gifts from any designated source for the Fund.
There shall be paid out of the Fund
- Any expenditure approved by the Trustees for funding public universities;
- Any expenditure approved by the Trustees for conditional grants and loans to private universities; and
- Any expenditure authorised by the Trustees for administration of the Fund.