§302A-1405  Federal grants revolving fund. 
(a)  There is established a federal grants revolving fund into which shall be
deposited the department's share of federal indirect overhead reimbursements,
pursuant to section 302A-1404.  Unless otherwise provided by law, all other
receipts shall immediately be deposited to the credit of the general fund of
the State.  The department may expend funds in the federal grants revolving
fund to search for discretionary grants, develop program applications to secure
additional revenues for the department, monitor grant execution, ensure
compliance with grant requirements, and audit grant expenditures.  Moneys in
the revolving fund may be expended for consultant services and operational
expenses, including the creation and hiring of temporary staff.



(b)  The department shall prepare and submit an
annual report on the status of the federal grants revolving fund to the
legislature.  The annual report shall include but not be limited to a list of
the grant applications to the federal agencies and the grant awards received.
[L 2000, c 234, pt of §2; am L 2009, c 35, §2]



 



Note



 



Transfer of certain interest earnings to general fund
until June 30, 2015. L 2009, c 79, §30(a)(22).