Calculation Procedure. The State shall use the following formula to calculate interest on each component cash flow: I = [A x i x (CT - PIT)] / 365 "I" represents the State interest liability for a major object or component cash flow. "A" represents the total amount of funds drawn/disbursed under the major object or component cash flow. It will be assumed that the amount of disbursements recorded is consistent with the amount of funds drawn to support those disbursements.
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Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Calculation Procedure. The State shall use the following formula to calculate interest on each component cash flow: I = [A x i x (CT - PIT)] / 365 "I" represents the State interest liability for a major object or component cash flow. "A" represents the total amount of funds drawn/disbursed under the major object or component cash flow. It will be assumed that the amount of disbursements recorded is consistent with the amount of funds drawn to support those disbursements.
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