Estimated Clearance. For all transactions where the State pays out its funds for a program prior to receiving Federal funds, the State shall compare the daily clearance pattern, as specified in Exhibit II, to the date Federal funds are credited to a State Account. The Federal interest liability shall be based on the difference in whole days between the estimated clearance of State funds and the actual deposit of Federal funds. With Federal-State matching programs, interest shall be calculated on the Federal percentage of the disbursement.
Appears in 6 contracts
Samples: Management Improvement Act Agreement, Management Improvement Act Agreement, Management Improvement Act Agreement
Estimated Clearance. For all transactions where the State pays out its own funds for a program prior to receiving Federal funds, the State shall compare the daily clearance pattern, as specified in Exhibit II, to the date Federal funds are credited to a State Account. The Federal interest liability shall be based on the difference in whole days between the estimated clearance of State funds and the actual deposit of Federal funds. With Federal-State matching programs, interest shall be calculated on the Federal percentage of the disbursement.
Appears in 3 contracts
Samples: Management Improvement Act Agreement, Management Improvement Act Agreement, sfsd.mt.gov
Estimated Clearance. For all transactions where the State pays out its own funds for a program prior to receiving Federal funds, the State shall compare the daily clearance pattern, as specified in Exhibit II, to the date Federal funds are credited to a State Account. The Federal interest liability shall be based on the difference in whole days between the estimated clearance of State funds and the actual deposit of Federal funds. With Federal-Federal- State matching programs, interest shall be calculated on the Federal percentage of the disbursement.
Appears in 2 contracts
Samples: Management Improvement Act Agreement, Management Improvement Act Agreement
