TITLE 35
Public Finance
CHAPTER 35-4
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.)
