Opn. No.

Honorable Edward V. Regan Comptroller of the State of New York Department of Audit and Control

This is in response to the inquiry of your counsel whether Cornell University should transmit to the State Treasury out of compensation received by the University's statutory colleges from grants and contracts, the portion that represents recovery of expenditures for overhead expenses covered by State appropriations. Your counsel cites State Finance Law, § 121, which, of course, is the general statutory authority for transmission of funds to the State Treasury. Section 121 requires every State…