§ 35-4-23.1 - Indirect cost recoveries by state agencies.
SECTION 35-4-23.1
§ 35-4-23.1 Indirect cost recoveries bystate agencies. – All state agencies shall apply for recovery of indirect costs when recovery ispermissible under federal statute and grant regulations. All funds received forindirect costs recovery shall be turned over to the general treasurer and shallbe placed in a restricted account in each agency for the specific purposesdesignated through the annual budget process. The agency shall, through theannual budget process, report to the general assembly the estimated amount offederal indirect cost recoveries for the next fiscal year, together with theintended use of the funds. Nothing contained in this section, however, shallconflict with the powers and duties granted the board of governors for highereducation and the board of regents for elementary and secondary education inchapters 59 and 60 of title 16.