INTEREST EARNED Sample Clauses

INTEREST EARNED i. If SUBRECIPIENT earns interest on funds received pursuant to this CONTRACT, that interest shall be identified as income to the program(s) for which this CONTRACT provides and shall be used and expended only for said program(s). SUBRECIPIENT shall maintain in its files full documentation of such interest earnings and expenditures. ii. If SUBRECIPIENT is a nonprofit it shall maintain any advances of funds or contributions received under this CONTRACT interest-bearing accounts, unless “a” or “b” below apply: a. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $250 per year on the funds deposited pursuant to this CONTRACT combined with other federal cash balances, if any, maintained by SUBRECIPIENT; or b. The depository would require an average or minimum balance so high that it would not be feasible within the expected cash resources SUBRECIPIENT expects to receive under this CONTRACT.

INTEREST EARNED. A. If Subrecipient earns interest on funds received pursuant to this Contract, that interest shall be identified as income to the program(s) for which this Contract provides and shall be used and expended only for said program(s). Subrecipient shall maintain in its files full documentation of such interest earnings and expenditures. B. If Subrecipient is a nonprofit, it shall maintain any advances of funds or contributions received under this Contract in interest-bearing accounts, unless “a” or “b” below apply: i. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on the funds deposited pursuant to this Contract combined with other federal cash balances, if any, maintained by Subrecipient; or ii. The depository would require an average or minimum balance so high that it would not be feasible within the expected cash resources Subrecipient expects to receive under this Contract. 1. Subrecipient’s Budget: 2. The above Cost Categories is an overview of the actual budget approved by the Office on Aging. Subrecipient shall be responsible for and maintain the approved Budget Summary by Funding Source and Revenue Sources spreadsheet that is provided to Subrecipient from Office on Aging. The Budget Summary by Funding Source and Revenue Sources spreadsheet shall be maintained and completed in accordance with the Office on Aging policies and processes. Any deviation from the Office on Aging approved budget, may and can delay acceptance of budgets and/or reimbursements.

INTEREST EARNED. A. If Contractor earns interest on funds received pursuant to this Contract, that interest shall be identified as income to the program(s) for which this Contract provides and shall be used and expended only for said program(s). Contractor shall maintain in its files full documentation of such interest earnings and expenditures. B. If Contractor is a nonprofit, it shall maintain any advances of funds or contributions received under this Contract in interest-bearing accounts, unless “a” or “b” below apply: i. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on the funds deposited pursuant to this Contract combined with other federal cash balances, if any, maintained by Contractor; or ii. The depository would require an average or minimum balance so high that it would not be feasible within the expected cash resources Contractor expects to receive under this Contract. 1. Contractor’s Budget: 2. The above Cost Categories is an overview of the actual budget approved by the Office on Aging. Contractor shall be responsible for and maintain the approved Budget Summary by Funding Source and Revenue Sources spreadsheet that is provided to Contractor from Office on Aging. The Budget Summary by Funding Source and Revenue Sources spreadsheet shall be maintained and completed in accordance with the Office on Aging policies and processes. Any deviation from the Office on Aging approved budget, may and can delay acceptance of budgets and/or reimbursements.

INTEREST EARNED. A. If Subrecipient earns interest on funds received pursuant to this Contract, that interest shall be identified as income to the program(s) for which this Contract provides and shall be used and expended only for said program(s). Subrecipient shall maintain in its files full documentation of such interest earnings and expenditures. B. If Subrecipient is a nonprofit, it shall maintain any advances of funds or contributions received under this Contract in interest-bearing accounts, unless “a” or “b” below apply: i. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on the funds deposited pursuant to this Contract combined with other federal cash balances, if any, maintained by Subrecipient; or ii. The depository would require an average or minimum balance so high that it would not be feasible within the expected cash resources Subrecipient expects to receive under this Contract. 1. Subrecipient’s Budget (July 1, 2022 2023 – June 30, 20232024): Administrative Costs $0 Program Costs Total Match Funds (Cash and/or In-Kind) $44,885 Total Budgeted Costs $381,377 Budgets contained in Attachment C of this Agreement are high-level budgets. Upon approval by the Orange County Board of Supervisors and/or the County – but prior to submission of July 2022 2023 invoices, a detailed budget must be submitted to the Office on Aging office for approval. Budget templates will be provided by the Office on Aging. Invoices shall be submitted based upon these detailed budgets. Subrecipient may request to shift funds between programs, or between budgeted line items within a program, for the purpose of meeting specific program needs by utilizing a Budget/Staffing Revision Request form provided by Contract Administrator. Subrecipient must include a justification narrative specifying the purpose of the request, the amount of said funds to be shifted, and the sustaining annual impact of the shift as may be applicable to the current Fiscal Year Budget and/or future Fiscal Year Budgets. Subrecipient shall obtain written approval of any Budget/Staffing Revision Request(s) from Contract Administrator prior to implementation by Subrecipient.

INTEREST EARNED. 1. Interest earned on federal advance payments deposited in interest-bearing accounts must be remitted annually to CDA. Interest amounts up to $500 per year may be retained by the Contractor and subcontractors for administrative expenses. [45 CFR 75.305 (b)(9)] 2. Interest earned on advances of federal funds shall be identified as non-match cash. 3. The Contractor must maintain advance payments of federal awards in interest- bearing accounts, unless the following apply: [45 CFR 75.305 (b)(8)] a. The Contractor receives less than $120,000 in federal awards per year. b. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on federal cash balances. c. The depository would require an average or minimum balance so high that it would not be feasible within the expected federal and non-federal cash resources. d. A foreign government or banking system prohibits or precludes interest bearing accounts.

INTEREST EARNED. A. If Subrecipient earns interest on funds received pursuant to this Contract, that interest shall be identified as income to the program(s) for which this Contract provides and shall be used and expended only for said program(s). Subrecipient shall maintain in its files full documentation of such interest earnings and expenditures. B. If Subrecipient is a nonprofit, it shall maintain any advances of funds or contributions received under this Contract in interest-bearing accounts, unless “a” or “b” below apply: i. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on the funds deposited pursuant to this Contract combined with other federal cash balances, if any, maintained by Subrecipient; or ii. The depository would require an average or minimum balance so high that it would not be feasible within the expected cash resources Subrecipient expects to receive under this Contract. DocuSign Envelope ID: C52B161E-9C26-4042-823D-B4DF1F59DFB0

INTEREST EARNED. A. If Subrecipient earns interest on funds received pursuant to this Contract, that interest shall be identified as income to the program(s) for which this Contract provides and shall be used and expended only for said program(s). Subrecipient shall maintain in its files full documentation of such interest earnings and expenditures. B. If Subrecipient is a nonprofit, it shall maintain any advances of funds or contributions received under this Contract in interest-bearing accounts, unless “a” or “b” below apply: i. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on the funds deposited pursuant to this Contract combined with other federal cash balances, if any, maintained by Subrecipient; or ii. The depository would require an average or minimum balance so high that it would not be feasible within the expected cash resources Subrecipient expects to receive under this Contract. 1. Subrecipient’s Budget (July 1, 2022 2023 – June 30, 20232024) Elder Abuse Prevention VII-A Administrative Costs $6,184 Program Costs Total Match Funds (Cash and/or In-Kind) N/A Total Budgeted Costs $93,596 Ombudsman III-B Administrative Costs $121,495 Program Costs Total Match Funds (Cash and/or In-Kind) $11,618 Total Budgeted Costs $821,269 Ombudsman VII-A Administrative Costs $15,240 Program Costs Total Match Funds (Cash and/or In-Kind) N/A Total Budgeted Costs $121,523 Ombudsman Special Initiative Administrative Costs $38,061 Program Costs Total Match Funds (Cash and/or In-Kind) N/A Total Budgeted Costs $367,745 Budgets contained in Attachment C-14 of this Agreement are high-level budgets. Upon approval by the Orange County Board of Supervisors and/or the County – but prior to submission of July 2022 2023 invoices, a detailed budget must be submitted to the Office on Aging office for approval. Budget templates will be provided by the Office on Aging. Invoices shall be submitted based upon these detailed budgets. Subrecipient may request to shift funds between programs, or between budgeted line items within a program, for the purpose of meeting specific program needs by utilizing a Budget/Staffing Revision Request form provided by Contract Administrator. Subrecipient must include a justification narrative specifying the purpose of the request, the amount of said funds to be shifted, and the sustaining annual impact of the shift as may be applicable to the current Fiscal Year Budget and/or future Fiscal Year B...

INTEREST EARNED a. If CONTRACTOR earns interest on funds received pursuant to this Contract, that interest shall be identified as income to the program(s) for which this Contract provides and shall be used and expended only for said program(s). CONTRACTOR shall maintain in its files full documentation of such interest earnings and expenditures. b. If CONTRACTOR is a nonprofit it shall maintain any advances of funds or contributions received under this Contract in interest-bearing accounts, unless (i) or (ii) apply: (i) The best reasonably available interest-bearing account would not be expected to earn interest in excess of $250 per year on the funds deposited pursuant to this Contract combined with other federal cash balances, if any, maintained by CONTRACTOR; or (ii) The depository would require an average or minimum balance so high that it would not be feasible within the expected cash resources CONTRACTOR expects to receive under this Contract.

INTEREST EARNED. Interest earned in excess of $250 on General Funds allocated to Adult Services, Children's Services, or Community Mental Health Crisis Services may be used only for the services described, and during the term, of this Contract. Interest earned on funds received from the federal government must be handled in accordance with federal law.

INTEREST EARNED. 1. Interest earned on federal advance payments deposited in interest-bearing accounts must be remitted annually to CDA. Interest amounts up to $500 per year may be retained by the Contractor and subcontractors for administrative expenses. [2 CFR 200.305(b)(9)] [45 CFR 75.305 (b)(9)] 2. Interest earned on advances of federal and non-federal funds shall be identified as non-match cash. [2 CFR 200.305(b)(8)] [45 CFR 75.305(b)(8)] 3. The Contractor must maintain advance payments of federal awards in interest- bearing accounts, unless the following apply: [2 CFR 200.305(b)(8)] [45 CFR 75.305 (b)(8)] a. The Contractor receives less than $120,000 in federal awards per year. b. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on federal cash balances. c. The depository would require an average or minimum balance so high that it would not be feasible within the expected federal and non-federal cash resources. d. A foreign government or banking system prohibits or precludes interest bearing accounts.