Rhode Island General Laws Title 35. Public Finance § 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 council on postsecondary education and the council on elementary and secondary education in chapters 59 and 60 of title 16, and the board of trustees for the university of Rhode Island as provided in chapter 32 of title 16.