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§35-4-23.1  Indirect cost recoveries by state agencies. –

Published: 2015

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Public Finance


State Funds

SECTION 35-4-23.1

   § 35-4-23.1  Indirect cost recoveries by

state agencies. –

All state agencies shall apply for recovery of indirect costs when recovery is

permissible under federal statute and grant regulations. All funds received for

indirect costs recovery shall be turned over to the general treasurer and shall

be placed in a restricted account in each agency for the specific purposes

designated through the annual budget process. The agency shall, through the

annual budget process, report to the general assembly the estimated amount of

federal indirect cost recoveries for the next fiscal year, together with the

intended use of the funds. Nothing contained in this section, however, shall

conflict with the powers and duties granted the board of governors for higher

education and the board of regents for elementary and secondary education in

chapters 59 and 60 of title 16.

History of Section.

(P.L. 1993, ch. 138, art. 5, § 2.)