(a) The governing board of each institution listed in Section 51.001 of this code may retain control of the following sums of money collected at the institution, subject to Section 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.