53B-7-104 - Retention of net reimbursed overhead revenues.
53B-7-104. Retention of net reimbursed overhead revenues.
(1) For fiscal year 1990-91 and for each succeeding year, all budget documents for thesystem of higher education shall reflect retention by the institutions within the system of their netreimbursed overhead revenues for support of research and related programs under policiesestablished by the State Board of Regents. These overhead revenues may not be considered adedicated credit.
(2) The board, in conjunction with institutions within the system, shall provide theLegislature, through the Office of Legislative Fiscal Analyst, with a complete accounting of thenet reimbursed overhead revenues on an annual basis. This accounting shall include actualexpenditures for the prior fiscal year, budgeted expenditures for the current fiscal year, andplanned expenditures for the following fiscal year.
Amended by Chapter 277, 1989 General Session