Materiality Exemptions. Agencies exempt from coverage on the basis of materiality: State Board of Equalization (0860) 6.4.1 Unless otherwise specified, the State uses the pre-issuance funding technique for the major Federal assistance programs. Interest liabilities are incurred by the State under the provisions of CMIA because the State Constitution requires cash on hand before warrants are issued. Therefore, Federal funds will be requested before warrants are issued--and will not be based on the clearance/redemption patterns specified in Section 6.1.2. The State's interest liabilities will be based on the number of days from the time Federal funds are deposited in the State account until the funds are paid out for federal assistance program purposes. The State Department of Child Support Services will request federal funds to cover Child Support Enforcement (CFDA 93.563) Administrative Costs using the Pre-Issuance funding technique only in those instances where the Monthly Estimate/Monthly Draw technique would cause the inability to meet Payroll/Operating expense obligations under Section 6.3.2.
Appears in 4 contracts
Sources: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement