The net income from the K-Fund is used to purchase “big ticket” laboratory equipment in the College of Liberal Arts and Sciences at UIS. The equipment purchases shall be restricted to laboratory equipment for the physical or biological sciences programs that would be used, though not exclusively, in the undergraduate laboratory courses. The expenditures are not necessarily made each year, but rather the net income is allowed to reinvest in the principal of the Fund until the principal reaches at least $30,000 in 2003 dollars adjusted for inflation.