Calculation Procedure. Average Daily Balance + Clearance Pattern: I = {ADB x R} + {P x r x T}, where I = State's total interest liability ADB = Average Daily Balance of cash in a program's account, measured from deposit to clearance R = Annualized rate equal to the average equivalent yields of 13-week Treasury bills auctioned during a State's fiscal year P = Total annual expenditures of Federal funds for program or component cash flow of program r = R/365 days T = Dollar-weighted average day of clearance, as determined by the appropriate clearance pattern in Exhibit II
Appears in 27 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
