Common use of Interest on Federal / State Fund Balances Clause in Contracts

Interest on Federal / State Fund Balances. To invest all School Readiness funds provided as advance payment(s) in a secure interest bearing account and earn interest on invested funds. Interest earned on advance payments is required to be returned in its entirety each quarter to the Coalition who in turn will forward it to the Agency for Workforce Innovation/Office of Early Learning through the Coalition in accordance with 45 CFR 92.21. Copies of bank statements shall be submitted along with interest payments to substantiate calculations. This process shall be executed within ten (10) calendar days upon the closing of each quarter.

Interest on Federal / State Fund Balances. To invest all School Readiness funds provided as advance payment(s) in a secure interest bearing account and earn interest on invested funds. Interest earned on advance payments is required to be returned in its entirety each quarter to the Coalition who in turn will forward it to the Agency for Workforce Innovation/Office of Early Learning through the Coalition in accordance with 45 CFR §92.21. Copies of bank statements shall be submitted along with interest payments to substantiate calculations. This process shall be executed within ten (10) calendar days upon the closing of each quarter.

Interest on Federal / State Fund Balances. To invest all School Readiness funds provided as advance payment(s) in a secure interest bearing account and earn interest on invested funds. Interest earned on advance payments is required to be returned in its entirety each quarter to the Coalition who in turn will forward it to the Agency for Workforce Innovation/Florida’s Office of Early Learning through the Coalition in accordance with 45 CFR 92.21. Copies of bank statements shall be submitted along with interest payments to substantiate calculations. This process shall be executed within ten (10) calendar days upon the closing of each quarter.

Interest on Federal / State Fund Balances. To invest all School Readiness funds provided as advance payment(s) in a secure interest bearing account and earn interest on invested funds. Interest earned on advance payments is required to be returned in its entirety each quarter to the Coalition who in turn will forward it to the Agency for Workforce Innovation/Office of Early Learning through the Coalition in accordance with 45 CFR 92.21. Copies of bank statements shall be submitted along with interest payments to substantiate calculations. This process shall be executed within ten (10) calendar days upon the closing of each quarter.