Public Finance

CHAPTER 35-1.1
Office of Management and Budget

SECTION 35-1.1-6

§ 35-1.1-6. Office of management and budget expenses.

(a) There is created a restricted receipt account for the office of management and budget to be known as OMB administrative expense account. Payments from the account shall be limited to expenses for administrative oversight and management of federal and state funds received by the state agencies.

(b) All amounts deposited in the office of management and budget accounts shall be exempt from the indirect cost recovery provisions of § 35-4-27.

(c) The office of management and budget is authorized to receive indirect costs on federal funds to cover oversight expenses.

History of Section.
(P.L. 2012, ch. 241, art. 4, § 5.)