(1) It is made the duty of the Board of Trustees of the University of Central Arkansas to limit the number of teachers and their compensation and all the actual expenses thereof to the aggregate amount appropriated by the General Assembly for that purpose plus donations and bequests and the income that may be derived from the vested funds of the institution.
(2) All expenditures made by the board in excess of the funds mentioned in this section are declared unlawful and void.