New Hampshire Revised Statutes 124:16 – Funds Set Aside
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Terms Used In New Hampshire Revised Statutes 124:16
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
- Statute: A law passed by a legislature.
Every state department, board, institution, commission or agency which receives federal funds shall set aside an amount equal to the rate approved in the statewide indirect cost plan of the funds received. The amount set aside shall be used to pay for financial and compliance audits as required by the federal government or by state statute.