13. Funds of Foundation.—(1) The Foundation shall receive monies from the following sources,
namely:—
(a) grants and loans of such sums of money as the Central Government may consider necessary,
after due appropriation made by Parliament by law in this behalf;
(b) any sums received for research and development, including through donations from any other
source, including from public sector enterprises, the private sector, philanthropist organisations,
foundations or international bodies;
(c) recoveries made of the amounts granted to the Foundation;
(d) any income from investment of the amounts received by the Foundation;
(e) all amounts with the Fund for Science and Engineering Research under the Science and
Engineering Research Board Act, 2008 (9 of 2009) as on the appointed date; and
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(f) such other sources as may be prescribed.
(2) The Governing Board shall constitute the following Funds, into which it shall allocate, in the
manner as it determines fit, the amounts received from clauses (a), (b), (c), (d) and (f) of sub-section (1),
namely:—
(a) the Anusandhan National Research Foundation Fund, which shall be used for the financing of
activities under the Act, including expenses, salaries, allowances and other administrative exigencies
for achieving the objectives of the Foundation;
(b) the Innovation Fund for supporting outstanding creativity in the areas supported by the
Foundation;
(c) the Science and Engineering Research Fund for continuation of the projects and programmes
initiated under the Science and Engineering Research Board Act, 2008 (9 of 2009); and
(d) one or more Special Purpose Funds for any specific project or research.
(3) The Governing Board shall maintain the Science and Engineering Research Fund referred to in
clause (c) of sub-section (2) for such time as it may determine necessary, and allocate to such Fund, the
following amounts, namely:—
(a) all amounts under clause (e) of sub-section (1); and
(b) any further amounts from any of the other sources of Funds received by the Foundation, as may
be determined to be necessary for the implementation of such projects and programmes, based on a
review and assessment by the Executive Council.
(4) The Central Government shall frame such financial rules for the utilisation of the amounts in the
Funds established under this Act.
14. Budget.—The Executive Council shall prepare a budget, maintain proper accounts in such form
and manner at such time and at such intervals as may be prescribed for the next financial year, showing
the estimated receipts and expenditure of the Foundation, as approved by the Governing Board, and
forward the same to the Central Government.
15. Annual report.—The Executive Council shall prepare, in such form and manner and at such time
in every financial year, as may be prescribed, its annual report, giving a full account of the Foundation's
activities during the previous financial year and submit a copy of the same to the Central Government.
16. Accounts and audit.—(1) The Executive Council shall maintain proper accounts and other
relevant records and prepare an annual statement of accounts in such form and manner as may be
prescribed in consultation with the Comptroller and Auditor-General of India.
(2) The Comptroller and Auditor-General of India or any other person appointed in connection with
the auditing of the accounts of the Foundation under this Act shall have the same rights and privileges and
the authority in connection with such audit as the Comptroller and Auditor-General of India has in
connection with the auditing of the Government account and, in particular, shall have the right to demand
the production of books, accounts connected vouchers and other documents and papers and to inspect any
of the office of the Foundation under this Act.
(3) The accounts of the Foundation shall be audited by the Comptroller and Auditor-General of India
annually and any expenditure incurred in connection with such audit shall be payable by the Foundation
to the Comptroller and Auditor-General of India.
(4) The Executive Council shall furnish to the Central Government, before such date as may be
prescribed, its audited copy of accounts together with auditor's report.
17. Annual report and auditor's report to be laid before Parliament.—The Central Government
shall cause the annual report and auditor's report to be laid, as soon as may be after they have received,
before each House of Parliament.