The mandate of the Board is to;
- Advise the Cabinet Secretary in matters of university education funding and related policy issues;
- In consultation with the Cabinet Secretary, develop a transparent and fair criteria for allocation of funds to public universities and issue conditional grants to private universities;
- Apportion funds to public universities in accordance with criteria established;
- In consultation with the Chairpersons of Councils for public universities, establish the maximum differentiated unit cost for the programmes offered;
- Establish the minimum discipline differentiated remuneration for academic staff of universities, which shall be fair and globally competitive, and , advise the Government accordingly;
- Mobilize and receive funds for purposes of the Fund from the Government, donors, and from any other source.