(a) The governing board of each institution listed in § 51.001 of this code may retain control of the following sums of money collected at the institution, subject to § 51.008 of this code:
(1) student fees of all kinds;
(2) charges for use of rooms and dormitories;
(3) receipts from meals, cafes, and cafeterias;
(4) fees on deposit refundable to students under certain conditions;
(5) receipts from school athletic activities;
(6) income from student publications and other student activities;
(7) receipts from the sale of publication products and miscellaneous supplies and equipment;
(8) students’ voluntary deposits of money for safekeeping;
(9) all other fees and local or institutional funds arising out of and by virtue of the educational activities, research, or demonstrations carried on by the institution; and
(10) donations and gifts to the institution.
(b) The provisions of this subchapter do not apply to any income derived from the permanent university fund.