CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account) 7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and Management 7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Office 7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months. 7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check. 7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement. 7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. The State shall also adjust each clearance pattern to reflect: n/a 7.8 Each of the State's clearance patterns is calculated in calendar days. 7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years. 7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 6 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account The State shall develop separate clearance patterns for the Statewide Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program and each program and independent functions within specific programs listed in sections 4.2 and 4.3 (Vendor Account)any interest exempted program) of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministration shall develop the State's clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The data utilized in the development of clearance patterns comes from SABHRS (Statewide Accounting, Budget, and Human Resource System). The System is administered by the SABHRS Financial Services Technology Bureau of the State Financial Services Division within the Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAdministration.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNo exceptions.
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 6 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Payments and Payroll
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementTreasurer's Office
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank The files from maintained by the State Treasurer's OfficeOffice which indicate the date each vendor check, payroll check, or ACH payment was disbursed, and data obtained from the State's disbursement bank indicating when each vendor check or payroll check cleared the bank
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions at this time. The State shall also adjust each clearance pattern to reflect: n/aNo exceptions at this time.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 5 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHSPayments made from the State's non-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction payroll and payroll accounts and for the Medical Assistance Program (Vendor AccountCFDA 93.778).
7.2 The following shall develop the State's clearance patterns: Medical Assistance Program Clearance Pattern The New York State of Vermont-Department of Finance Health calculates the Medical Assistance clearance pattern based upon check presentment data compiled by the State's contractor bank. Functional Clearance Patterns New York State develops functional clearance patterns based on 1) New York's Statewide Financial System records of State employee payroll checks and Managementchecks written to non-employees, and 2) from check presentment files maintained by the State's contractor bank.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeSee 7.11.0.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNot applicable.
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 5 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)N/A
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance Education, Department of Transportation and ManagementDevelopment and the Governor's Office of Homeland Security and Emergency Preparedness
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files Check registers, checks cleared reports from the State Treasurer's Officebank, and reconciliation tapes.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. N/A The State shall also adjust each clearance pattern to reflect: nN/aA
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 5 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Estimated clearance for vendors, beneficiaries, administration and payroll
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAgencies administering grants
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officestatements, checks and debit reconciliation reports
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. Not applicable The State shall also adjust each clearance pattern to reflect: nNone/aNA
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 5 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHSThe State shall develop clearance patterns for each program that uses a delay of draw by measuring the dollar-PATH Account Unemployment Insurance Benefits Account weighted number of days between the day expenditures are sent to Treasury for payment and the day the related checks clear. Each program is examined to determine the appropriation(s) supporting it (Federal Highway Planning & Construction Program financial assistance to the State is reappropriated by the legislature). The relevant appropriation(s), an integral element of the voucher transmittals (Vendor Account)VTs) used by Commonwealth agencies to request payment, control(s) the selection of VTs for the check clearance research. All checks associated with the selected VTs during a fiscal year are examined.
7.2 The following shall develop the State's clearance patterns: The data is assembled by the State Treasurer and forwarded to the Office of Vermont-Department of Finance the Budget, Comptroller Operations, which creates and Managementruns the computer program that measures clearance activity and computes the clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-:
(1) electronic files provided by the State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank financial institutions indicating the dates checks cleared, and (2) electronic files from provided by the State Treasurer's OfficeTreasurer indicating unique identifying numbers and the related check issuance dates.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment In those instances where an expenditure is not necessary since paid via EFT/Direct payroll, the check clearance pattern is determined by using the date the expenditure is sent to the State includes all payments in its clearance pattern calculations, including those paid electronicallyTreasurer for payment to the date the funds clear the bank. The State shall also adjust each clearance pattern to reflect: n/aThe clearance date of each check is compared to the related date the expenditure was sent to the State Treasurer for payment to determine the actual number of days between these two events. The clearance time of each voucher transmittal is individually calculated and a dollar-weighted average day of clearance is calculated. This clearance time is then applied to all voucher transmittals that are part of the clearance pattern. The clearance time of each check in the study is dollar-weighted to produce the dollar-weighted average day of clearance after expenditure posting.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 4 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)With the exception of programs administered by recipient Agency 350, Superintendent of Public Instruction, where all federal program payroll charges are based on 100% EFT payroll, the State shall develop a clearance pattern for the payroll and administrative function. This clearance pattern shall be applied to the payroll and administrative components of all programs.
7.2 The following shall develop the State's clearance patterns: The Office of Financial Management, in conjunction with the Office of the State Treasurer (OST) and the applicable agency, shall develop all of Vermont-Department of Finance and Managementthe State's clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateType of Clearance Pattern: Payroll and Administrative; Source of Data: Human Resource Management System (HRMS) and OST's central accounting EFT and warrant redemption records. Type of Clearance Pattern: Program specific; Source of Data: Agency warrant registers and OST's warrant redemption records. For CFDA 20.205, the agency system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officeis TRAINS.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since For most programs, the State includes all distinguishes the payroll clearance from the recipient/benefit payments as a separate cash flow. However, in its Agency 300, composite rate payroll clearance pattern calculations, including those paid electronicallypatterns are included in the agency's composite rate. Both the warrant clearance and the EFT payroll are considered in calculating the composite rate. The State shall also adjust each clearance pattern to reflect: n/aNone. Not applicable.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 4 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)N/A
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance Education, Department of Transportation and ManagementDevelopment and the Governor's Office of Homeland Security and Emergency Preparedness
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files Check registers, checks cleared reports from the State Treasurer's Officebank, and reconciliation tapes.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. N/A The State shall also adjust each clearance pattern to reflect: nN/aA
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
7.11 The State will usually use the actual expenditures for calculating payroll costs. However, at June 30 and December 31 of any year, it may be necessary to use estimated costs for payroll expenditures, based upon the day of the week when the State 's payroll system will update the State's accounting system. This is due to when the last payroll in June or December will post to the accounting system. Drawdowns for payroll expenditures will be reconciled within 14 days after these two dates. Draws will be adjusted accordingly. Every effort will be made to ensure accuracy and any errors will be corrected in the next draw. Such errors will be interest neutral.
Appears in 4 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)There are currently no program components listed in Section 7.1.
7.2 The following shall develop the State's clearance patterns: The State Tennessee Department of Vermont-Treasury Tennessee Department of Finance and ManagementAdministration
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State Treasurer's Accounts Reconciliation Package (ARP) system State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Office(Edison)
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNot applicable.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 4 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)All the programs identified in Section 4.2. Where the reimbursable funding technique has been applied, the state voluntary waives recovery of any federal interest liability that may occur through use of this funding technique.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance Finance, Division of Accounting Department of Technology and ManagementInformation Office of the State Treasurer The Office of Management and Budget
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor accountThe source of expenditure data is Delaware's FSF accounting system. Numerous expenditure reports and queries have been developed to support timing and amounts. Additionally, these expenditures are audited and included in annual SEFA report . These FSF reports detail the amount, length of time checks and ACH payments take to clear in our financial system. Processing daily a bank supplied paid-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officeitem file which identifies checks paid, amount paid and date paid.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. No exceptions are made by Delaware The State shall also adjust each clearance pattern to reflect: n/aDelaware does not adjust clearance pattern. We use a very detailed process of tracking expenditures upon confirmation when then request reimbursement according to our approved TSA clearance patterns.
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)for the payroll portion of the administrative costs listed in Sections 4.2 and 4.3 of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministrative Services shall develop the State's clearance patterns in accordance with 31 CFR 205.22.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-Actual warrant redemption from the records of the State Treasurer as well as the State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officesystem.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. NONE The State shall also adjust each clearance pattern to reflect: n/aNONE
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following:
a. Functional Payment: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)- State Central Payroll Checks
b. The programs as described in section 4.2 that meet or exceed the threshold
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Budget and Finance Department of Accounting and ManagementGeneral Services, Information & Communication Services Division
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The State of Hawaii’s Financial Accounting and Management Information System (FAMIS), Check Reconciliation System, and Check Writing System. The Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeEducation’s Central Accounting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNone. The State shall also adjust each clearance pattern to reflect: n/aThe State shall adjust each clearance pattern to reflect actual date the checks cleared the State's bank account for other than Department of Education checks. To arrive at the date the check was debited from the State's account (7.5, Item 2) the average day of clearance must be reduced by 1.45 days. The State computer files show the cashed date as the date the checks were returned to the State Treasury by the drawee bank. However, the checks were redeemed and charged to the State's bank account by the drawee bank on the prior banking day. Accordingly, the average day of clearance is overstated by approximately 1.45 calendar days. The "rounded average day of clearance" in Exhibit II is adjusted to reflect the day the checks were cashed at the drawee bank and charged to the State's bank account. The following is the computation of the 1.45 days factor: State of Hawaii Agencies (Other than Department of Education) Clearance Pattern Adjustment: Check Cashed by Bank; Recorded Cashed by State; Difference-Cashed & Recorded Monday; Tuesday; 1 day Tuesday; Wednesday; 1 day Wednesday; Thursday; 1 day Thursday; Friday; 1 day Friday; Monday; 3 days Total difference = 7 days Computation to determine number of days to be adjusted: 39 weeks x (7/5) = 54.60 (Holiday Factor) 13 weeks x (8/5) = 20.80 52 weeks = 75.40 / 52 weeks = 1.45 days 1.45 days will be reduced from the State-calculated clearance pattern to arrive at the clearance pattern to be used by the State in Exhibit II.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account The District developed check clearance patterns for controlled disbursement types (run IDs) in the District's check writing and cash reconciliation systems. The disbursement types applicable for this Agreement are: 23-Medicaid (Provider Payments) 73-SOAR Checks NPS 81-Payroll Account AHSGroup 1 82-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Payroll Group 2 The check clearance patterns are produced without regard to funding type. The District is responsible for the development and appropriate application of these check clearance patterns for the programs covered by the Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department For each disbursement type, the District's Office of Finance and ManagementTreasury has analyzed about 50% of the funds disbursed from issuance via checks to the clearance for a period of at least three months. Almost all payments from the District of Columbia are done by ACH or instant wires, where clearances are completed in a matter of hours or minutes.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateThe data provided for testing the check clearance patterns are provided through the District's central accounting system Unemployment Insurance Benefits Account-Department financial management system, the System of Labor bank records Accounting and Reporting (SOAR) and its Accounts Reconcillation Processing (ARP) component. The ARP component, controlled by the Office of the Chief Information Officer, contains the clearance pattern information required by this agreement. All other accounts-Bank files from the State Treasurer's OfficePayroll is paid via direct deposit and therefore results in a zero day clearance time.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNone. The State shall also adjust each clearance pattern to reflect: n/aAny systemic problems, such as what occurred with the mail distribution during the Anthrax crisis. Adjustments in the clearance patterns will be made to smooth out the resulting anomalies.
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account The State may develop a separate clearance pattern for an individual program, or develop a composite clearance pattern for a logical group of programs, or develop a clearance pattern on another basis acceptable to the Bureau of the Fiscal Service. The State shall ensure that a clearance pattern accurately represents the flow of Federal Highway Planning & Construction Program (Vendor Account)funds and that a clearance pattern reflects seasonal or other periodic variations in clearance activity.
7.2 The following shall develop the State's clearance patterns: The State will develop the State's clearance patterns. The records of Vermont-Department the Office of Finance Management and ManagementEnterprise Services will serve as the system of record for sampling data. Supplemental data from the Oklahoma State Treasurer and the recipient agency will be utilized.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor accountDevelopment of clearance patterns will be based on data from at least 3 consecutive months; based on 100 percent of the data, or on a sample size sufficient to ensure, at a minimum, a 96 percent confidence interval for a plus or minus .25% weighted-State's central accounting system Unemployment Insurance Benefits Account-Department day level of Labor bank records All other accounts-Bank files from the State Treasurer's Officeprecision; and truncated at no less than 99 percent of disbursement dollars.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)and Payroll
7.2 The following shall develop the State's clearance patterns: The WV State of Vermont-Department of Finance and ManagementTreasurer's Office
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Actual Bank files from the State Treasurer's OfficeData
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. No Exceptions The State shall also adjust each clearance pattern to reflect: n/aNo Adjustments
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account The State shall develop separate clearance patterns for the Statewide Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program and for each program and separate functions within specific programs listed in sections 4.2 and 4.3 (Vendor Account)any interest exempted program) of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministration shall develop the State's clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The data utilized in the development of clearance patterns for comes from SABHRS (Statewide Accounting, Budget and Human Resource System). The System is is administered by the SABHRS Services Bureau of the Information Technology Services Division within the Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAdministration.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNo exceptions.
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service FMS prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account All clearance patterns, except for the Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor AccountCFDA 17.225) and WYDOT (CFDA 20.205, 20.608) are developed by the State of Wyoming's State Auditor's Office. The State chose to determine an overall State clearance pattern based on all warrants issued for the Fiscal Year 2019 (July 1, 2018-June 30, 2019). Data was extracted by the SAO Tech Division to pull information from the Paid Checks Table for the fiscal year as outlined above. The extracted data included all instruments of issuance, Regular Warrants (AD), payroll warrants (PY), Manual Warrants (MD) and electronic funds transfers (EFT). The result was a statewide clearance pattern of four (4) days.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and Managementwill develop its own clearance patterns in compliance with 31 CFR 205.22
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central The data used to develop clearance patterns will come from State payment and accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officerecords.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNone. The State shall also adjust each clearance pattern to reflect: n/aNone.
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)All programs with the exception of programs listed in Sections 7.1.1, 7.1.2, 7.1.3, 7.1.4, and 7.1.5.
7.2 The following shall develop the State's clearance patterns: The Each State of Vermont-Department of Finance and ManagementAgency will be responsible for developing the clearance pattern(s) for its applicable federal programs.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central Departmental accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All files, payment document dates, disbursement issue dates, disbursement redemption dates, and any other accounts-Bank files from the State Treasurer's Officerelevant data needed.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/ana
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Not Applicable
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance Bank shall develop clearance patterns for Vendor and ManagementPayroll accounts.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateThe Commonwealth's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other controlled disbursement accounts-Bank files from the State Treasurer's Office.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. Not Applicable The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account The State may develop a separate clearance pattern for an individual program, or develop a composite clearance pattern for a logical group of programs, or develop a clearance pattern on another basis acceptable to the Bureau of the Fiscal Service. The State shall ensure that a clearance pattern accurately represents the flow of Federal Highway Planning & Construction Program (Vendor Account)funds and that a clearance pattern reflects seasonal or other periodic variations in clearance activity.
7.2 The following shall develop the State's clearance patterns: The State will develop the State's clearance patterns. The records of Vermont-Department the Office of Finance Management and ManagementEnterprise Services will serve as the system of record for sampling data. Supplemental data from the Oklahoma State Treasurer and the recipient agency will be utilized.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor accountDevelopment of clearance patterns will be based on data from at least 3 consecutive months; based on 100 percent of the data, or on a sample size sufficient to ensure, at a minimum, a 96 percent confidence interval for a plus or minus .25% weighted-State's central accounting system Unemployment Insurance Benefits Account-Department day level of Labor bank records All other accounts-Bank files from the State Treasurer's Officeprecision; and truncated at no less than 99 percent of disbursement dollars.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Functional Payment. The Commonwealth shall develop separate clearance patterns for each agency or instrumentality listed in Section 5.1 of this Agreement. The clearance pattern for each agency or instrumentality shall be derived from the transactions applicable to the programs for which each entity is responsible.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministration Cabinet shall develop all of the Commonwealth's clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateThe source of data the Commonwealth shall use when developing its clearance patterns is the actual expenditures of Federal cash as recorded in the Commonwealth's central accounting system Unemployment Insurance Benefits Account-Department of Labor system. The Commonwealth shall append to this data the date each expenditure was presented for payment or otherwise culminated. For expenditure transactions executed by check or EFT, the source for presentment dates shall be data obtained indirectly from the Commonwealth's bank records All other accounts-Bank files from through the State Treasurer's Office.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each For all clearance patternpatterns developed by statistical sampling, the State shall randomly sample checks to ensure, at a minimum, a 95% confidence interval for a .25 weighted-day level of precision for the checks in the sample. The State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three monthsin the sample period.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. Not Applicable The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)N/A
7.2 The following shall develop the State's clearance patterns: The New Mexico State of Vermont-Department of Finance and ManagementTreasurer's Office
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the The State Treasurer's Officedoes not use funding techniques which require clearance patterns.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.:
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is The State does not necessary since the State includes all payments in its use funding techniques which require clearance pattern calculations, including those paid electronicallypatterns. The State shall also adjust each clearance pattern to reflect: n/aThe State does not use funding techniques which require clearance patterns.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)and Payroll
7.2 The following shall develop the State's clearance patterns: The WV State of Vermont-Department of Finance and ManagementTreasurer's Office
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Actual Bank files from the State Treasurer's OfficeData
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. No Exceptions The State shall also adjust each clearance pattern to reflect: n/aNo Adjustments
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Payments and Payroll
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementTreasurer's Office
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank The files from maintained by the State Treasurer's OfficeOffice which indicate the date each vendor check, payroll check, or ACH payment was disbursed, and data obtained from the State's disbursement bank indicating when each vendor check or payroll check cleared the bank
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions at this time. The State shall also adjust each clearance pattern to reflect: n/aNo exceptions at this time.
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and Management
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Office
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. The State shall also adjust each clearance pattern to reflect: n/a
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Functional payments for Benefit payments, vendor payments, administrative and indirect costs.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Guam Department of Finance and ManagementAdministration
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeBudget & Accounting Information System (BACIS)/AS400 Platform
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Medicaid/CHIP Combined Account checks to 3rd Party Providers by Conduent State Healthcare, LLC Social Service Program Benefits Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program checks General Warrants (Vendor AccountPayments)
7.2 The following shall develop the State's clearance patterns: The State of Vermont-banks under contract with the Virginia Department of Finance and ManagementTreasury. The bank under contract with Conduent.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateGeneral warrants, payroll checks, social service payments, and checks issued by the Fiscal Agent for Medical Assistance Services Program (CFDA #93.778) and the Children's central accounting system Unemployment Health Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeProgram (93.767).
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. See Section 7.13.0 The State shall also adjust each clearance pattern to reflect: n/a:
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)All the programs identified in Section 4.2.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance Finance, Division of Accounting Department of Technology and ManagementInformation Office of the State Treasurer The Office of Management and Budget
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateThe source of expenditure data is Delaware's central FSF accounting system Unemployment Insurance Benefits Account-Department system. Numerous expenditure reports and queries have been developed to support timing and amounts. Additionally, these expenditures are audited and included in annual SEFA report. These FSF reports detail the amount, length of Labor time checks and ACH payments take to clear in our financial system. Processing daily a bank records All other accounts-Bank files from the State Treasurer's Officesupplied paid- item file which identifies checks paid, amount paid and date paid.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. No exceptions are made by Delaware The State shall also adjust each clearance pattern to reflect: n/aDelaware does not adjust clearance pattern. We use a very detailed process of tracking expenditures upon confirmation when then request reimbursement according to our approved TSA clearance patterns.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Programs or Program (Vendor Account)Components identified in Section 4.2 and 6.3.2 of this Agreement provided a clearance pattern is required for either drawdown or interest calculation purposes in accordance with the funding technique selected.
7.2 The following shall develop the State's clearance patterns: The Office of the Missouri State of Vermont-Department of Finance and ManagementTreasurer.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department Check disbursement data provided by each applicable entity to the Office of Labor bank records All other accounts-Bank files from the Missouri State Treasurer's Office.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNone. The State shall also adjust each clearance pattern to reflect: n/aNone.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program Functional payments for program expenses, and administrative costs (Vendor Accountpayroll included).
7.2 The following shall develop the State's clearance patterns: The State of Vermont-American Samoa Government Treasury Department of Finance and Managementwill develop the clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department ONESolution (Financial System), Zion Bank, and Territorial Bank of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAmerican Samoa
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since When developing each pattern, the State includes all payments in its clearance pattern calculationsTerritory shall track at least 99% of the funds disbursed, including those paid electronicallyfrom the issuance to clearance, for a period of at least three months. The State shall also adjust each clearance pattern to reflect: n/aNone
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Functional payments for Benefit payments, vendor payments, administrative and indirect costs.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Guam Department of Finance and ManagementAdministration
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeBudget & Accounting Information System (BACIS)/AS400 Platform
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Each program or program component as required in section 6.3.2 under the agreement.
7.2 The following shall develop the State's clearance patterns: The State Each entity which receives Federal funds shall be responsible for the development of Vermont-Department of Finance and Managementits own clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central State accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officerecords.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.:
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNone
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Medicaid/CHIP Combined Account checks to 3rd Party Providers by Conduent State Healthcare, LLC Social Service Program Benefits Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program checks General Warrants (Vendor AccountPayments)
7.2 The following shall develop the State's clearance patterns: The State of Vermont-banks under contract with the Virginia Department of Finance and ManagementTreasury. The bank under contract with Conduent.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateGeneral warrants, payroll checks, social service payments, and checks issued by the Fiscal Agent for Medical Assistance Services Program (CFDA #93.778) and the Children's central accounting system Unemployment Health Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeProgram (93.767).
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. See Section 7.13.0 The State shall also adjust each clearance pattern to reflect: n/aSee Section 7.13.0
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account The District developed check clearance patterns for controlled disbursement types (run IDs) in the District's check writing and cash reconciliation systems. The disbursement types applicable for this Agreement are: 23-Medicaid (Provider Payments) 73-SOAR Checks NPS 81-Payroll Account AHSGroup 1 82-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Payroll Group 2 The check clearance patterns are produced without regard to funding type. The District is responsible for the development and appropriate application of these check clearance patterns for the programs covered by the Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department For each disbursement type, the District's Office of Finance and ManagementTreasury has analyzed about 50% of the funds disbursed from issuance via checks to the clearance for a period of at least three months. Almost all payments from the District of Columbia are done by ACH or instant wires, where clearances are completed in a matter of hours or minutes.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateThe data provided for testing the check clearance patterns are provided through the District's central accounting system Unemployment Insurance Benefits Account-Department financial management system, the System of Labor bank records All other accounts-Bank files from Accounting and Reporting (SOAR) and its Accounts Reconciliation Processing (ARP) component. The ARP component, controlled by the State Treasurer's OfficeOffice of the Chief Information Officer, contains the clearance pattern information required by this agreement. Payroll is generally paid via direct deposit and therefore results in a zero day clearance time.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNone. The State shall also adjust each clearance pattern to reflect: n/aAny systemic problems, such as delivery issues due to the pandemic, will result in adjustments. Adjustments in the clearance patterns will be made to smooth out the resulting anomalies.
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Each program listed in Section 4.2 and 4.3 of this agreement
7.2 The following shall develop the State's clearance patterns: The various State of Vermont-Department of Finance agencies' accounting systems create a report that measures clearance activity for warrants with unique identifying numbers and Managementcomputes the clearance patterns. The state agencies administering the programs shall run the report to determine the check clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The North Carolina Department of Labor bank records All other accounts-Bank State Treasurer provides electronic files from to the various State Treasurer's Officeagencies' accounting systems that includes warrant clearance dates and amounts.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. N/A The State shall also adjust each clearance pattern to reflect: nN/aA
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)The State does not use funding techniques which require clearance patterns.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and Managementdoes not use funding techniques which require clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the The State Treasurer's Officedoes not use funding techniques which require clearance patterns.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months. For all clearance patterns developed by statistical sampling, the State shall randomly sample checks to ensure, at a minimum, a 95% confidence interval for a .25 weighted-day level of precision for the checks in the sample. The State shall track at least 99% of the funds disbursed, from issuance to clearance, in the sample period.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is The State does not necessary since the State includes all payments in its use funding techniques which require clearance pattern calculations, including those paid electronicallypatterns. The State shall also adjust each clearance pattern to reflect: n/aThe State does not use funding techniques which require clearance patterns.
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Each program listed in Section 4.2 and 4.3 of this agreement
7.2 The following shall develop the State's clearance patterns: For the average clearance patterns that are developed by the State, the Department of Financial Services, Office of Information Technology, is responsible for the development of the average clearance patterns. The State of Vermont-agencies are responsible for providing accurate selection criteria related to program expenditures to ensure proper clearance pattern computation by the Department of Finance and ManagementFinancial Services, Office of Information Technology.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department The sources of Labor bank records All other accounts-Bank files from data the State Treasurer's Officeshall use when developing its average clearance patterns are State warrants and EFT/Direct Deposit transactions issued by the Division of Accounting and Auditing and recorded in the FLAIR system.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. NA The State shall also adjust each clearance pattern to reflect: n/aThe State shall adjust each average clearance pattern to reflect, when applicable, if Federal funds are requested according to Exhibit I to be received into the State's account 1) after the day that the vouchers are submitted to the Division of Accounting and Auditing for voucher audit for non-payroll warrants and EFT transactions or 2) after the Voucher Audit date per the published payroll schedule for warrants and EFT transactions, thereby reducing the average clearance pattern to reflect the amount of time the Federal funds were held. The State agencies will also be responsible for documenting any instances that the Federal funds are received prior to the day vouchers are submitted and/or prior to the voucher audit date. The State shall adjust the average clearance pattern appropriately to reflect the additional time that the State held the Federal funds. The State agencies shall be required to maintain records of the amount and the number of days Federal funds are expected to be received, based upon requests in accordance with Exhibit I, after the submission of the warrant and EFT transaction request vouchers and the amount of the applicable draw for documentation of the reduction of the clearance pattern for that draw.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program all programs listed in Sections 4.2, 4.3 and 4.4 (Vendor Account)except any interest exempted program) of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementTransportation Department of Education Department of Human Services Department of Workforce Services Department of Health
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department the Treasurer of Labor bank records All other accounts-Bank files from the State Treasurer's Officeof Arkansas' Treasury Management System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. :
A. The State shall also adjust each clearance pattern to reflect: n/a:
N. A.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)for the payroll portion of the administrative costs listed in Sections 4.2 and 4.3 of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministrative Services shall develop the State's clearance patterns in accordance with 31 CFR 205.22.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-Actual warrant redemption from the records of the State Treasurer as well as the State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officesystem.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. NONE The State shall also adjust each clearance pattern to reflect: n/aNONE
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHSThe State shall develop clearance patterns for each program that uses a delay of draw by measuring the dollar-PATH Account Unemployment Insurance Benefits Account weighted number of days between the day expenditures are sent to Treasury for payment and the day the related checks clear. Each program is examined to determine the appropriation(s) supporting it (Federal Highway Planning & Construction Program financial assistance to the State is reappropriated by the legislature). The relevant appropriation(s), an integral element of the voucher transmittals (Vendor Account)VTs) used by Commonwealth agencies to request payment, control(s) the selection of VTs for the check clearance research. All checks associated with the selected VTs during a fiscal year are examined.
7.2 The following shall develop the State's clearance patterns: The data is assembled by the State Treasurer and forwarded to the Office of Vermont-Department of Finance the Budget, Comptroller Operations, which creates and Managementruns the computer program that measures clearance activity and computes the clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-:
(1) electronic files provided by the State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank financial institutions indicating the dates checks cleared, and (2) electronic files from provided by the State Treasurer's OfficeTreasurer indicating unique identifying numbers and the related check issuance dates.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. The State shall also adjust each clearance pattern to reflect: n/a
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Each program or program component as required in section 6.3.2 under the agreement.
7.2 The following shall develop the State's clearance patterns: The State Each entity which receives Federal funds shall be responsible for the development of Vermont-Department of Finance and Managementits own clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central State accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officerecords.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNone
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following:
a. Functional Payment: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)- State Central Payroll Checks
b. The programs as described in section 4.2 that meet or exceed the threshold
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Budget and Finance Department of Accounting and ManagementGeneral Services, Information & Communication Services Division
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Financial Accounting and Management Information System (FAMIS), Check Reconciliation System, Check Writing System and the Department of Labor bank records All other accounts-Bank files from the State TreasurerEducation's OfficeCentral Accounting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNone. The State shall also adjust each clearance pattern to reflect: n/aThe State shall adjust each clearance pattern to reflect actual date the checks cleared the State's bank account for other than Department of Education checks. To arrive at the date the check was debited from the State's account (7.5, Item 2) the average day of clearance must be reduced by 1.45 days. The State computer files show the cashed date as the date the checks were returned to the State Treasury by the drawee bank. However, the checks were redeemed and charged to the State's bank account by the drawee bank on the prior banking day. Accordingly, the average day of clearance is overstated by approximately 1.45 calendar days. The "rounded average day of clearance" in Exhibit II is adjusted to reflect the day the checks were cashed at the drawee bank and charged to the State's bank account. The following is the computation of the 1.45 days factor: State of Hawaii Agencies (Other than Department of Education) Clearance Pattern Adjustment: Monday; Tuesday; 1 day Tuesday; Wednesday; 1 day Wednesday; Thursday; 1 day Thursday; Friday; 1 day Friday; Monday; 3 days Check Cashed by Bank; Recorded Cashed by State; Difference-Cashed & Recorded Total difference = 7 days Computation to determine number of days to be adjusted: 39 weeks x (7/5) = 54.60 (Holiday Factor) 13 weeks x (8/5) = 20.80 52 weeks = 75.40 / 52 weeks = 1.45 days 1.45 days will be reduced from the State-calculated clearance pattern to arrive at the clearance pattern to be used by the State in Exhibit II.
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account The State shall develop separate clearance patterns for the Statewide Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program and each program and independent functions within specific programs listed in sections 4.2 and 4.3 (Vendor Account)any interest exempted program) of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministration shall develop the State's clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The data utilized in the development of clearance patterns comes from SABHRS (Statewide Accounting, Budget, and Human Resource System). The System is administered by the SABHRS Financial Services Technology Bureau of the State Financial Services Division within the Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAdministration.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNo exceptions.
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account The State shall develop separate clearance patterns for the Statewide Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program and for each program and separate functions within specific programs listed in sections 4.2 and 4.3 (Vendor Account)any interest exempted program) of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministration shall develop the State's clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The data utilized in the development of clearance patterns for comes from SABHRS (Statewide Accounting, Budget and Human Resource System). The System is is administered by the SABHRS Services Bureau of the State Accounting Division within the Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAdministration.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNo exceptions.
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service FMS prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)All the programs identified in Section 4.2. Where the reimbursable funding technique has been applied, the state voluntary waives recovery of any federal interest liability that may occur through use of this funding technique.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance Finance, Division of Accounting Department of Technology and ManagementInformation Office of the State Treasurer The Office of Management and Budget
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateThe source of expenditure data is Delaware's central FSF accounting system Unemployment Insurance Benefits Account-Department system. Numerous expenditure reports and queries have been developed to support timing and amounts. Additionally, these expenditures are audited and included in annual SEFA report. These FSF reports detail the amount, length of Labor time checks and ACH payments take to clear in our financial system. Processing daily a bank records All other accounts-Bank files from the State Treasurer's Officesupplied paid- item file which identifies checks paid, amount paid and date paid.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. No exceptions are made by Delaware The State shall also adjust each clearance pattern to reflect: n/aDelaware does not adjust clearance pattern. We use a very detailed process of tracking expenditures upon confirmation when then request reimbursement according to our approved TSA clearance patterns.
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program For each program or logical group of programs subject to the provisions of Subpart A of 31 CFR 205, except for those programs that utilize Electronic Benefit Transfers (Vendor AccountEBT). The State will also develop functional clearance patterns for those programs where applicable.
7.2 The following shall develop the State's clearance patterns: State agencies will calculate clearance patterns for period 1 (from deposit date to issuance date, where issuance means the actual release of payments). The State Comptroller of Vermont-Department of Finance and ManagementPublic Accounts will calculate clearance patterns for period 2 from issuance to clearance.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateAn agency's central internal accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from system, the State Treasurer's OfficeUniform Statewide Accounting System, the Treasury Warrants System, and the Standardized Payroll/Personnel Reporting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Separate clearance patterns will be developed for the following programs by the following responsible State Agencies: N/A
7.2 The following shall develop the State's clearance patterns: The State ND Office of Vermont-Department Management and Budget shall develop all of Finance and Managementthe State's clearance patterns for all major Federal Programs.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department The sources of Labor bank records All other accounts-Bank files from data the State Treasurer's Officeshall use when developing its clearance patterns for payments made by the Statewide Accounting System are the PeopleSoft transaction history file, and the Bank of North Dakota cleared check file. The months of June through November 2020 were used to calculate the clearance pattern for CFDA #20.205. The months of June thru August 2020 were used to calculate clearance patterns for CFDA #84.010 and#84.027. The months July thru September 2020 were used to calculate the clearance pattern for #10.559. The months of September thru November of 2020 were used to calculate the clearance pattern for #10.555. The months of June thru August 2021 were used to calculate clearance patterns for CFDA #84.425 and #97.036.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is Interdepartmental Billings are not necessary since included for the State includes all payments in its clearance pattern calculations, including programs that have a separate component for those paid electronicallyxxxxxxxx. The State shall also adjust each clearance pattern to reflect: nN/aA
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Separate clearance patterns will be developed for the following programs by the following responsible State Agencies: N/A
7.2 The following shall develop the State's clearance patterns: The State ND Office of Vermont-Department Management and Budget shall develop all of Finance and Managementthe State's clearance patterns for all major Federal Programs.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department The sources of Labor bank records All other accounts-Bank files from data the State Treasurer's Officeshall use when developing its clearance patterns for payments made by the Statewide Accounting System are the PeopleSoft transaction history file, and the Bank of North Dakota cleared check file. The months of June through November 2020 were used to calculate the clearance pattern for CFDA #20.205. The months of June thru August 2020 were used to calculate clearance patterns for CFDA #84.010 and#84.027. The months July thru September 2020 were used to calculate the clearance pattern for #10.559. The months of September thru November of 2020 were used to calculate the clearance pattern for #10.555.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is Interdepartmental Xxxxxxxx are not necessary since included for the State includes all payments in its clearance pattern calculations, including programs that have a separate component for those paid electronicallyxxxxxxxx. The State shall also adjust each clearance pattern to reflect: nN/aA
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)The programs as described in section 4.2 that meet or exceed the threshold.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementChild Safety Department of Health Services Department of Economic Security Department of Transportation Department of Education
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files The average clearance days are derived from the verification of clearance patterns done in April 2019 (84.126 Rehabilitation Services -- Vocational Rehabilitation Grants to States), June 2016 (93.558 Temporary Assistance for Needy Families) and October 2016 (93.658 Xxxxxx Care-Title IV-E and 93.659 Adoption Assistance) using an AFIS report and sampling transactions. The State Treasurer's Officehas documented that over 99% of all current payrolls are paid by direct deposit. Bank of America is paid via wire on Wednesday of pay week for payroll. Therefore, when applying funding techniques that require Federal funds to be deposited in a State account on the average clearance day of payroll, Wednesday of the pay week has been established as the date to receive Federal funds.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNo additional adjustments.
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account The State shall develop separate clearance patterns for the Statewide Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program and for each program and separate functions within specific programs listed in sections 4.2 and 4.3 (Vendor Account)any interest exempted program) of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministration shall develop the State's clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The data utilized in the development of clearance patterns for comes from SABHRS (Statewide Accounting, Budget and Human Resource System). The System is administered by the SABHRS Financial Services Technology Bureau of the State Financial Services Division within the Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAdministration.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNo exceptions.
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program For each program or logical group of programs subject to the provisions of Subpart A of 31 CFR 205, except for those programs that utilize Electronic Benefit Transfers (Vendor AccountEBT). The state will also develop functional clearance patterns for those programs where applicable.
7.2 The following shall develop the State's clearance patterns: State agencies will calculate clearance patterns for period 1 (from deposit date to issuance date, where issuance means the actual release of payments). The State Comptroller of Vermont-Department of Finance and ManagementPublic Accounts will calculate clearance patterns for period 2 from issuance to clearance.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateAn agency's central internal accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from system, the State Treasurer's OfficeUniform Statewide Accounting System, the Treasury Warrants System, the Uniform Statewide Payroll/Personnel System and the Standardized Payroll/Personnel Reporting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Functional payments for program expenses, payroll and administrative costs.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-American Samoa Government Treasury Department of Finance and Managementwill develop the clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department Integrated Financial Accounting Software, Bank of Labor bank records All other accounts-Hawaii, Zion Bank, Territorial Bank files from the State Treasurer's Officeof American Samoa, and ANZ American Samoa
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since When developing each pattern, the State includes all payments in its clearance pattern calculationsTerritory shall track at least 99% of the funds disbursed, including those paid electronicallyfrom the issuance to clearance, for a period of at least three months. The State shall also adjust each clearance pattern to reflect: n/aNone
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account The State shall develop separate clearance patterns for the Statewide Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program and for each program and separate functions within specific programs listed in sections 4.2 and 4.3 (Vendor Account)any interest exempted program) of this Agreement.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementAdministration shall develop the State's clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The data utilized in the development of clearance patterns for comes from SABHRS (Statewide Accounting, Budget and Human Resource System). The System is administered by the SABHRS Services Bureau of the State Accounting Division within the Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAdministration.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNo exceptions.
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service FMS prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program For each program or logical group of programs subject to the provisions of Subpart A of 31 CFR 205, except for those programs that utilize Electronic Benefit Transfers (Vendor AccountEBT). The State will also develop functional clearance patterns for those programs where applicable.
7.2 The following shall develop the State's clearance patterns: State agencies will calculate clearance patterns for period 1 (from deposit date to issuance date, where issuance means the actual release of payments). The State Comptroller of Vermont-Department of Finance and ManagementPublic Accounts will calculate clearance patterns for period 2 from issuance to clearance.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateAn agency's central internal accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from system, the State Treasurer's OfficeUniform Statewide Accounting System, the Treasury Warrants System, the Uniform Statewide Payroll/Personnel System and the Standardized Payroll/Personnel Reporting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program For each program or logical group of programs subject to the provisions of Subpart A of 31 CFR 205, except for those programs that utilize Electronic Benefit Transfers (Vendor AccountEBT). The State will also develop functional clearance patterns for those programs where applicable.
7.2 The following shall develop the State's clearance patterns: DocuSign Envelope ID: C9941766-1D84-47D2-A38B-4771733DBDED State agencies will calculate clearance patterns for period 1 (from deposit date to issuance date, where issuance means the actual release of payments). The State Comptroller of Vermont-Department of Finance and ManagementPublic Accounts will calculate clearance patterns for period 2 from issuance to clearance.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateAn agency's central internal accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from system, the State Treasurer's OfficeUniform Statewide Accounting System, the Treasury Warrants System, and the Standardized Payroll/Personnel Reporting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program For each program or logical group of programs subject to the provisions of Subpart A of 31 CFR 205, except for those programs that utilize Electronic Benefit Transfers (Vendor AccountEBT). The State will also develop functional clearance patterns for those programs where applicable.
7.2 The following shall develop the State's clearance patterns: DocuSign Envelope ID: 841D0F37-ECA6-45BD-AF3E-EB2AE0DFC6C5 State agencies will calculate clearance patterns for period 1 (from deposit date to issuance date, where issuance means the actual release of payments). The State Comptroller of Vermont-Department of Finance and ManagementPublic Accounts will calculate clearance patterns for period 2 from issuance to clearance.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateAn agency's central internal accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from system, the State Treasurer's OfficeUniform Statewide Accounting System, the Treasury Warrants System, the Uniform Statewide Payroll/Personnel System and the Standardized Payroll/Personnel Reporting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Functional payments for program expenses, payroll and administrative costs.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-American Samoa Government Treasury Department of Finance and Managementwill develop the clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department Integrated Financial Accounting Software, Zion Bank, Territorial Bank of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAmerican Samoa, and ANZ American Samoa
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since When developing each pattern, the State includes all payments in its clearance pattern calculationsTerritory shall track at least 99% of the funds disbursed, including those paid electronicallyfrom the issuance to clearance, for a period of at least three months. The State shall also adjust each clearance pattern to reflect: n/aNone
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)The programs as described in section 4.2 that meet or exceed the threshold.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and ManagementChild Safety Department of Health Services Department of Economic Security Department of Transportation Department of Education
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files The average clearance days are derived from the verification of clearance patterns done in May 2020 (20.205 Highway Planning and Construction ), April 2021 (93.558 Temporary Assistance for Needy Families) and June 2021 (93.658 Xxxxxx Care-Title IV-E and 93.659 Adoption Assistance) using an AFIS report and sampling transactions. The State Treasurer's Officehas documented that over 99% of all current payrolls are paid by direct deposit. Bank of America is paid via wire on Wednesday of pay week for payroll. Therefore, when applying funding techniques that require Federal funds to be deposited in a State account on the average clearance day of payroll, Wednesday of the pay week has been established as the date to receive Federal funds.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNo exceptions. The State shall also adjust each clearance pattern to reflect: n/aNo additional adjustments.
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Average Clearance
7.2 The following shall develop the State's clearance patterns: The NH State of Vermont-Department of Finance and ManagementTreasury
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor accountFor the first year that a program is incorporated under this Agreement the State shall use Fiscal Service-State's central provided clearance patterns if available or the clearance pattern of a program currently in compliance with the Act that most closely compares with the newly complying program. For years subsequent to the first year, the State shall use its accounting system Unemployment Insurance Benefits Account-Department data and bank account clearance data to determine an accurate clearance pattern of Labor bank records All other accounts-Bank files from each program. (For a summary of the State Treasurer's Officeresults of clearance pattern calculations refer to Exhibit II).
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.:
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. NA The State shall also adjust each clearance pattern to reflect: n/aNA
7.8 Each of the State's clearance patterns is calculated in calendar Business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program For each program or logical group of programs subject to the provisions of Subpart A of 31 CFR 205, except for those programs that utilize Electronic Benefit Transfers (Vendor AccountEBT). The State will also develop functional clearance patterns for those programs where applicable.
7.2 The following shall develop the State's clearance patterns: State agencies will calculate clearance patterns for period 1 (from deposit date to issuance date, where issuance means the actual release of payments). The State Comptroller of Vermont-Department of Finance and ManagementPublic Accounts will calculate clearance patterns for period 2 from issuance to clearance.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-StateAn agency's central internal accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from system, the State Treasurer's OfficeUniform Statewide Accounting System, the Treasury Warrants System, the Uniform Statewide Payroll/Personnel System and the Standardized Payroll/Personnel Reporting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronically. None The State shall also adjust each clearance pattern to reflect: n/aNot Applicable
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
Appears in 1 contract
CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account All clearance patterns, except for the Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor AccountCFDA 17.225) and WYDOT (CFDA 20.205, 20.608) are developed by the State of Wyoming's State Auditor's Office. The State chose to determine an overall State clearance pattern based on all warrants issued for the Fiscal Year 2019 (July 1, 2018-June 30, 2019). Data was extracted by the SAO Tech Division to pull information from the Paid Checks Table for the fiscal year as outlined above. The extracted data included all instruments of issuance, Regular Warrants (AD), payroll warrants (PY), Manual Warrants (MD) and electronic funds transfers (EFT). The result was a statewide clearance pattern of four (4) days.
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Finance and Managementwill develop its own clearance patterns in compliance with 31 CFR 205.22
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central The data used to develop clearance patterns will come from State payment and accounting system Unemployment Insurance Benefits Account-Department of Labor bank records All other accounts-Bank files from the State Treasurer's Officerecords.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNone. The State shall also adjust each clearance pattern to reflect: n/aNone.
7.8 Each of the State's clearance patterns is calculated in calendar business days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
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CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following:
a. Functional Payment: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)- State Central Payroll Checks
b. The programs as described in section 4.2 that meet or exceed the threshold
7.2 The following shall develop the State's clearance patterns: The State of Vermont-Department of Budget and Finance Department of Accounting and ManagementGeneral Services, Information & Communication Services Division
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-The State of Hawaii’s Financial Accounting and Management Information System (FAMIS), Check Reconciliation System, and Check Writing System. The Department of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeEducation’s Central Accounting System.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since the State includes all payments in its clearance pattern calculations, including those paid electronicallyNone. The State shall also adjust each clearance pattern to reflect: n/a
7.8 Each of The State shall adjust each clearance pattern to reflect actual date the checks cleared the State's bank account for other than Department of Education checks. To arrive at the date the check was debited from the State's account (7.5, Item 2) the average day of clearance patterns is calculated in calendar must be reduced by 1.45 days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its computer files show the cashed date as the date the checks were returned to the State Treasury by the drawee bank. However, the checks were redeemed and charged to the State's bank account by the drawee bank on the prior banking day. Accordingly, the average day of clearance patterns is overstated by approximately 1.45 calendar days. The "rounded average day of clearance" in Exhibit II is adjusted to reflect the day the checks were cashed at least every five years.
7.10 the drawee bank and charged to the State's bank account. The following is the computation of the 1.45 days factor: State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.Hawaii Agencies (Other than Department of Education) Clearance Pattern Adjustment: Check Cashed by Bank; Recorded Cashed by State; Difference-Cashed & Recorded Monday; Tuesday; 1 day Tuesday; Wednesday; 1 day
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CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program Functional payments for program expenses, and administrative costs (Vendor Accountpayroll included).
7.2 The following shall develop the State's clearance patterns: The State of Vermont-American Samoa Government Treasury Department of Finance and Managementwill develop the clearance patterns.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department ONESolution (Financial System), Zion Bank, Territorial Bank of Labor bank records All other accounts-Bank files from the State Treasurer's OfficeAmerican Samoa, and ANZ American Samoa
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is not necessary since When developing each pattern, the State includes all payments in its clearance pattern calculationsTerritory shall track at least 99% of the funds disbursed, including those paid electronicallyfrom the issuance to clearance, for a period of at least three months. The State shall also adjust each clearance pattern to reflect: n/aNone
7.8 Each of the State's clearance patterns is calculated in calendar Calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
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CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: Vendor Account Payroll Account AHS-PATH Account Unemployment Insurance Benefits Account Federal Highway Planning & Construction Program (Vendor Account)Separate clearance patterns will be developed for the following programs by the following responsible State Agencies: N/A
7.2 The following shall develop the State's clearance patterns: The State ND Office of Vermont-Department Management and Budget shall develop all of Finance and Managementthe State's clearance patterns for all major Federal Programs.
7.3 The sources of data the State shall use when developing its clearance patterns are as follows: Vendor account-State's central accounting system Unemployment Insurance Benefits Account-Department The sources of Labor bank records All other accounts-Bank files from data the State Treasurer's Officeshall use when developing its clearance patterns for payments made by the Statewide Accounting System are the PeopleSoft transaction history file, and the Bank of North Dakota cleared check file. The months of June through November 2018 were used to calculate the clearance pattern for CFDA #20.205. The months of June thru August 2018 were used to calculate clearance patterns for CFDA #84.010, #84.027, and #97.039. The months July thru September 2018 were used to calculate the clearance pattern for #12.401. The months August thru October 2018 were used to calculate the clearance pattern for #97.036. The months of September thru November of 2018 were used to calculate the other clearance patterns.
7.4 The State shall use the following methodology when developing its clearance patterns: When developing each clearance pattern, the State shall track at least 99% of the funds disbursed, from issuance to clearance, for a period of at least three months.
7.5 The State shall identify for each check or warrant (hereafter, check) in the population: (1) the date the check was released for payment; (2) the date the check was debited from the State's account, and, (3) the amount of the check.
7.6 The State shall use the following method to calculate the dollar-weighted average day of clearance: To determine the number of days each check was outstanding (clearance time), the issue date shall be subtracted from the date the check cleared the State's account. To determine the percentage of the disbursement paid out each day following issuance, the amount of the checks that clear the State's account each day shall be summed and then divided by the amount of the total disbursement. For each day following issuance, the clearance time of the checks paid out that day shall be multiplied by the percentage of the total disbursement those checks represent. This product is the clearance factor. The dollar-weighted average day of clearance for the disbursement shall be determined by summing the clearance factor of each day following the disbursement.
7.6.1 The issue date shall be the day following the date on the check, to allow for one day processing time before checks are mailed.
7.7 The State shall adjust each clearance pattern to reflect the dollar-weighted proportion of funds paid out by EFT/Direct payroll, with the following exceptions: All Accounts - An adjustment is Interdepartmental Xxxxxxxx are not necessary since included for the State includes all payments in its clearance pattern calculations, including programs that have a separate component for those paid electronicallyxxxxxxxx. The State shall also adjust each clearance pattern to reflect: nN/aA
7.8 Each of the State's clearance patterns is calculated in calendar days.
7.9 An authorized State official shall certify that each clearance pattern developed by the State accurately corresponds to the clearance activity of the programs to which it is applied. This certification shall be provided to the Fiscal Service prior to the effective date of the Agreement. The State shall recertify its clearance patterns at least every five years.
7.10 The State shall follow the procedures of 31 CFR 205 if it has actual or constructive knowledge, at any time, that a clearance pattern does not correspond to a program's clearance activity.
7.11 Estimated clearance activity is based on a sample of checks over a three to six month period. The system, knowing when the checks were written, determines if they are outstanding or have been cashed. The estimated clearance pattern is then based on this information. The information is kept in a spreadsheet by the agency responsible for it and is reconciled daily.
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