13.1.A fund to be known as the University Excellence and Performance Fund is established within the department.
The purpose of the Fund is to finance the educational institutions at the university level listed in section 1 of the Act respecting educational institutions at the university level (chapter E 14.1).
More particularly, the Fund is dedicated to
(1) paying to each institution financial assistance determined annually according to the gifts and legacies paid into it, the growth of those gifts and legacies, and the number of students registered at the institution;
(2) financing the institutions according to, for each one, first, their success in achieving objectives of paying off their accumulated deficits, and second, their success in improving the quality of teaching and student services; and