Common use of CLEARANCE PATTERNS Clause in Contracts

CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: The State of Maine has developed clearance patterns for three centralized accounts: Primary Disbursement Account #0366 This is the primary disbursement account for the State of Maine excluding state payroll and unemployment benefits. The clearance pattern for this account also factors in the clearance pattern of ACH payments issued from the #9798 (ACH Primary Disbursement) account. Payroll Checking Account #0374 This is the State of Maine payroll account for employee payroll payments. The clearance pattern for this account also factors in the clearance pattern of direct deposit (ACH) payments issued from the #9790 (ACH Payroll) account. Unemployment Compensation #9709 This is the benefit payment account used for direct deposit (ACH) payments. 7.2 The following shall develop the State's clearance patterns: U.S. Bank and the Office of the State Treasurer 7.3 The sources of data the State shall use when developing its clearance patterns are as follows: 1. Range of check numbers for checks issued during specified 90-calendar-day time period. 2. Total number of payments and total amount of payments during time period. 3. Total of daily checks presented that fall within the predefined check number range. 4. The number of days from the date of issue by the State to the day the dollars were removed from the State's bank account. Percentage of daily checks presented (number and amount) compared against the total issuance of the period. 5. Dollar-weighted factor created by applying percentage against number of days before check presentation. The sum of dollar-weighted factors represents the average amount of time for a check to be presented for payment to the bank after the check issuance date. 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: None. 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.

CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: The State of Maine has developed clearance patterns for three centralized accounts: Primary Disbursement Account #0366 This is the primary disbursement account for the State of Maine excluding state payroll and unemployment benefits. The clearance pattern for this account also factors in the clearance pattern of ACH payments issued from the #9798 (ACH Primary Disbursement) account. Payroll Checking Account #0374 This is the State of Maine payroll account for employee payroll payments. The clearance pattern for this account also factors in the clearance pattern of direct deposit (ACH) payments issued from the #9790 (ACH Payroll) account. Unemployment Compensation #9709 This is the benefit payment account used for direct deposit (ACH) payments. 7.2 The following shall develop the State's clearance patterns: U.S. Bank and the Office of the State Treasurer 7.3 The sources of data the State shall use when developing its clearance patterns are as follows: 1. Range of check numbers for checks issued during specified 90-calendar-day time period. 2. Total number of payments and total amount of payments during time period. 3. Total of daily checks presented that fall within the predefined check number range. 4. The number of days from the date of issue by the State to the day the dollars were removed from the State's bank account. Percentage of daily checks presented (number and amount) compared against the total issuance of the period. 5. Dollar-weighted factor created by applying percentage against number of days before check presentation. The sum of dollar-weighted factors represents the average amount of time for a check to be presented for payment to the bank after the check issuance date. 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: None. 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.

CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: The State of Maine has developed clearance patterns for three centralized accounts: Primary Disbursement Account #0366 335 This is the primary disbursement account for the State of Maine excluding state payroll and unemployment benefits. The clearance pattern for this account also factors in the clearance pattern of ACH EFT payments issued from the #9798 400 (ACH EFT Primary Disbursement) account. Payroll Checking Account #0374 343 This is the State of Maine payroll account for employee payroll payments. The clearance pattern for this account also factors in the clearance pattern of direct deposit (ACHEFT) payments issued from the #9790 434 (ACH EFT Payroll) account. Unemployment Compensation #9709 369 This is the benefit payment account used for direct deposit (ACH) paymentsunemployment compensation payments in CFDA 17.225. 7.2 The following shall develop the State's clearance patterns: U.S. Bank and the Office of the State TreasurerTD Banknorth, N.A. 7.3 The sources of data the State shall use when developing its clearance patterns are as follows: 1. Range of check numbers for checks issued during specified 90-calendar-day time period. 2. Total number of payments and total amount of payments during time period. 3. Total of daily checks presented that fall within the predefined check number range. 4. The number of days from the date of issue by the State to the day the dollars were removed from the State's ’s bank account. Percentage of daily checks presented (number and amount) compared against the total issuance of the period. 5. Dollar-weighted factor created by applying percentage against number of days before check presentation. The sum of dollar-weighted factors represents the average amount of time for a check to be presented for payment to the bank after the check issuance date. 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: None. 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 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.

CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: The State of Maine has developed clearance patterns for three centralized accounts: Primary Disbursement Account #0366 335 This is the primary disbursement account for the State of Maine excluding state payroll and unemployment benefits. The clearance pattern for this account also factors in the clearance pattern of ACH EFT payments issued from the #9798 400 (ACH EFT Primary Disbursement) account. Payroll Checking Account #0374 343 This is the State of Maine payroll account for employee payroll payments. The clearance pattern for this account also factors in the clearance pattern of direct deposit (ACHEFT) payments issued from the #9790 434 (ACH EFT Payroll) account. Unemployment Compensation #9709 369 This is the benefit payment account used for direct deposit (ACH) paymentsunemployment compensation payments in CFDA 17.225. 7.2 The following shall develop the State's clearance patterns: U.S. Bank and the Office of the State TreasurerBanknorth Group Inc. 7.3 The sources of data the State shall use when developing its clearance patterns are as follows: 1. Range of check numbers for checks issued during specified 90-calendar-day time period. 2. Total number of payments and total amount of payments during time period. 3. Total of daily checks presented that fall within the predefined check number range. 4. The number of days from the date of issue by the State to the day the dollars were removed from the State's ’s bank account. Percentage of daily checks presented (number and amount) compared against the total issuance of the period. 5. Dollar-weighted factor created by applying percentage against number of days before check presentation. The sum of dollar-weighted factors represents the average amount of time for a check to be presented for payment to the bank after the check issuance date. 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: None. 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 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.

CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: The State of Maine has developed clearance patterns for three centralized accounts: Primary Disbursement Account #0366 This is the primary disbursement account for the State of Maine excluding state payroll and unemployment benefits. The clearance pattern for this account also factors in the clearance pattern of ACH EFT payments issued from the #9798 400 (ACH EFT Primary Disbursement) account. Payroll Checking Account #0374 This is the State of Maine payroll account for employee payroll payments. The clearance pattern for this account also factors in the clearance pattern of direct deposit (ACHEFT) payments issued from the #9790 434 (ACH EFT Payroll) account. Unemployment Compensation #9709 This is the benefit payment account used for direct deposit (ACH) paymentsunemployment compensation payments in CFDA 17.225. 7.2 The following shall develop the State's clearance patterns: U.S. Bank and the Office of the State Treasurer 7.3 The sources of data the State shall use when developing its clearance patterns are as follows: 1. Range of check numbers for checks issued during specified 90-calendar-day time period. 2. Total number of payments and total amount of payments during time period. 3. Total of daily checks presented that fall within the predefined check number range. 4. The number of days from the date of issue by the State to the day the dollars were removed from the State's State s bank account. Percentage of daily checks presented (number and amount) compared against the total issuance of the period. 5. Dollar-weighted factor created by applying percentage against number of days before check presentation. The sum of dollar-weighted factors represents the average amount of time for a check to be presented for payment to the bank after the check issuance date. 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: None. 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.

CLEARANCE PATTERNS. 7.1 The State shall develop separate clearance patterns for each of the following: The State of Maine has developed clearance patterns for three centralized accounts: Primary Disbursement Account #0366 This is the primary disbursement account for the State of Maine excluding state payroll and unemployment benefits. The clearance pattern for this account also factors in the clearance pattern of ACH payments issued from the #9798 (ACH Primary Disbursement) account. Payroll Checking Account #0374 This is the State of Maine payroll account for employee payroll payments. The clearance pattern for this account also factors in the clearance pattern of direct deposit (ACH) payments issued from the #9790 (ACH Payroll) account. Unemployment Compensation #9709 This is the benefit payment account used for direct deposit (ACH) payments. 7.2 The following shall develop the State's clearance patterns: U.S. Bank and the Office of the State Treasurer 7.3 The sources of data the State shall use when developing its clearance patterns are as follows: 1. Range of check numbers for checks issued during specified 90-calendar-day time period. 2. Total number of payments and total amount of payments during time period. 3. Total of daily checks presented that fall within the predefined check number range. 4. The number of days from the date of issue by the State to the day the dollars were removed from the State's State s bank account. Percentage of daily checks presented (number and amount) compared against the total issuance of the period. 5. Dollar-weighted factor created by applying percentage against number of days before check presentation. The sum of dollar-weighted factors represents the average amount of time for a check to be presented for payment to the bank after the check issuance date. 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: None. 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.