Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral. 6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral. 6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3. 6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 5 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Composite Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day number of clearance days required for the disbursementfunds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount sum of that disbursementthe payments issued in the series of disbursements. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Actual Costs - Estimated Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund the activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be an estimate based on the actual costs of the month distributed in accordance with to the State's approved cost program according to the allocation planof costs for the preceding six months. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be There are currently no programs listed for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutralSection 6.2.4.
Appears in 5 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly and Adjusted Estimate Administrative costs for all programs will be drawn at the same time as payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The draw will consist of an amount to fund the actual expenditures of the prior week and an amount to fund the estimated expenditures of the current/upcoming week based on year to date actual expenditures. The estimated draws will be adjusted for variances between the most recent estimate and actual expenditures each time a draw is made. This funding technique is interest neutral. Actual at Fixed Intervals The State shall request funds on at a weekly basisfixed interval, i.e., bi-weekly, monthly, quarterly, etc., for the actual program expenditures of the period prior to the draw. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in exact amount of the past weekly previous period's disbursements. This funding technique is interest neutral. Average Clearance - Modified Allocation of Payroll and Administrative Costs The State shall will request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30a bi-50 days after the end of the quarterweekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutralAdministrative costs for all programs are to be drawn at the same time as payroll costs. Bi-Weekly Actual - Payroll The State draw will request funds bi-weekly be completed to meet the cash requirements based on the most recent certified cost allocations with subsequent adjustments completed pursuant to the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount allocation of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclecosts. This funding technique is interest neutral. Drawdowns at Payroll and Administrative - Fixed Intervals - Monthly (modified) Frequency The State shall request funds once at a monthfixed interval, i.e., bi-weekly, monthly, quarterly, etc., such that they are deposited on to fund the day actual activity of the month specified for each componentprevious period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either amount of the actual or estimated costs, whichever is applicable to cash outlays for payroll and administrative costs during the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterprevious period. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 5 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Fixed Administrative Allowances - Bi- Weekly Payroll The State shall request funds such that one-sixth (or one-seventh) of the quarterly administrative allowance is deposited on the dollar-weighted average date of clearance for payroll payments, as specified in the appropriate clearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Indirect Cost Allocation Plans Rates - Monthly Estimated Base The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be determined by applying the indirect cost rate to the appropriate cost base estimated for a given the current month's activity . The estimate of direct costs shall be based on the actual direct costs distributed in accordance with of the State's approved cost allocation planprior month. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Pre-Issuance - Weekly Modified The State shall request Commonwealth receives Federal funds from the US Department of Housing and Urban Development (HUD) on a weekly basisthe first business day of each month. The payment of Federal funds is done automatically by US HUD and a request shall be made in accordance with for funds is not required of the appropriate Federal agency cut-off time specified in Exhibit I. Commonwealth. The Commonwealth subsequently makes disbursements to approved recipients. The amount of funds that are received each month is equal to 1/12th of the request shall be for the actual expenditures annual budget, which occurred in the past weekly periodis approved by US HUD. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 5 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Payment Schedule - Monthly The State shall request funds such that they are deposited in a State account on the median business day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 12, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding technique is interest neutral. Payment Schedule - Quarterly The State shall request funds such that they are deposited in a State account on the median business day of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of (1) the lesser of the annual grant divided by 4, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 4. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns at Fixed Intervals The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior monthmonth specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on the amount of actual cash outlays for direct administrative costs distributed in accordance with during the State's approved cost allocation planmonth. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Indirect Costs - Weekly Quarterly with Reconciliation The State shall request funds at the end of each quarter so that they are deposited in a State account after the last payroll of each quarter. After the completion of each quarter's payroll, reconciliation will be done prior to requesting of the quarterly draw. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the annual amount of indirect costs based on the federally approved estimated indirect cost rate divided by 4. This funding technique is interest neutral. Modified Actual Clearance, ZBA - ACH The State Contractor (Contractor) shall request funds such that they are deposited by ACH in a weekly basisContractor account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in amount of funds that clear the past weekly periodContractor's account on the settlement date. This funding technique is interest neutral. Average Clearance Modified Actual Costs - Modified Estimated Allocation - Semi-Monthly The State shall request funds at semi-monthly intervals, such that they funds are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate date of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cyclepaydays. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each the request shall equal is the total lesser of one-sixth of the estimated allocation derived from actual expenditures posted during costs distributed to the Stateprogram according to the allocation statistics of the prior quarter or one-sixth of the quarter's bi-weekly payroll cyclegrant award. The State will adjust the drawdown of the actual allocation at the end of the quarter based on the approved cost allocation plan. This funding technique is interest neutral. Drawdowns at Fixed Intervals Modified Payment Schedule - Monthly (modified) The State shall request funds once a month, such that they are deposited in a State account on the median business day of the month specified for each componentmonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on a prorated share of the most recent monthly expenditure data available based on either actual lesser of (1) the quarterly grant award divided by 3, or estimated costs, whichever is applicable (2) the total amount of Federal funds expected to be paid out for program purposes during the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterquarter divided by 3. This funding technique is interest neutral. Drawdowns at Fixed Intervals Modified Payment Schedule - Quarterly Semi-Monthly The State shall request funds once a quarter, such that they are deposited in a State account on the 30th day average clearance date of the month following the end of the quarterpayroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on a pro-rated share of the actual costs allocated lesser of (1) the annual grant divided by 24, or (2) the total amount of Federal funds expected to be paid out for program purposes during the program for the quarteryear divided by 24. This funding technique is interest neutral. Fixed Administrative AllowancesModified Payment Schedule - Semi-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance Monthly with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 funds such that they are deposited in a State account not earlier than the first business day following the end of the quarterly award, based on the number of pay periods within the quarterpayroll period. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures (based on actual expenditures request shall be a prorated share of the prior fiscal lesser of (1) the annual grant divided by 24, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year or divided by 24, reconciling after each month and adjusting the current budget) on request for funds to the median day of actual payments during the preceding month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding Modified Payment Schedule - Weekly The State state shall request Federal funds only after related expenditures have been warranted for payment such that they are deposited in a State account on the State’ s Accounting Systemmedian business day of the week. The request shall be made in accordance with the appropriate Federal agency cut-off time tine specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. I. The amount of the request shall be for a pro-rated share of the lesser of (1) the annual quarterly grant divided by 13, or (2) the total amount of that disbursement in whole dollarsFederal funds expected to be paid out for program purposes during the quarter divided by 13. This funding technique is interest neutral. Modified Payment Schedule - Weekly Billing (Thursday) The State shall request funds weekly for the program. The amount shall be for all eligible costs such that have been recorded since the last request for fundsthey are deposited in a State account on Thursday of each week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the estimated amount of Federal funds expected to be paid out to participating contractors and vendors. This funding technique is interest neutral. Weekly Draws Reimbursement Funding The State state shall request funds once a weekmonth, after reports containing the amount of actual cash outlays for direct program costs are available, and deposited into a special state fund. The Voucher Only amount requested Federal government will not incur interest liabilities for this technique as state rules require deposits into the fund to be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS)actual amounts. The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such fundsNo reconciliation is necessary. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 4 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Estimated Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in a State account in accordance with the clearance pattern specified in Exhibit IIII - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be for disbursement, according to the exact amount of that disbursementState's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Description
1. Employee Fringe Benefits - Weekly The the State shall request funds on a weekly basisbiweekly. The request Requests shall be made in accordance with the appropriate Federal agency cut-off Agency cutoff time specified in Exhibit I. The amount of the request shall be for determined by applying the fringe rate developed pursuant to the terms of Federal grant programs to the actual expenditures which occurred biweekly payroll. As described in the past weekly period. This Section 8.8 of this Agreement, this funding technique is interest neutral.
2. Average Clearance Indirect Costs - Modified The the State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIbiweekly. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request Requests shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off Agency cutoff time specified in Exhibit I. The amount of the request shall be based on determined by applying the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable indirect rate developed pursuant to program-specific indirect cost recovery plans that are approved by the Federal agency responsible for program oversight to the componentactual biweekly payroll. If necessaryAs described in Section 8.8 of this Agreement, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterthis funding technique is interest neutral. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 4 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed Funding Technique Name Description Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Monthly Estimate/Monthly Draw The State departments will estimate the monthly expenditures during the first week of each month. This amount will be requested within the first ten working days of each month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit l. The State will reconcile the actual expenditures to the estimate for each month and adjust the subsequent request for funds. This funding technique is interest neutral. Monthly Estimate/Monthly Draw-- Administrative Costs Monthly operating and equipment expenditures shall be estimated monthly and recorded on the median day of the month. The State shall request payroll funds such that they are deposited to coincide with the State's monthly payroll cycle. The amount of the requests shall be an estimate of expenditures based on a weekly basishistorical data. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount estimate will be reconciled to actual costs within 45 days after the end of the request shall month, and future draws will be for the actual expenditures which occurred in the past weekly periodadjusted accordingly. This funding technique is interest neutral. Average Clearance - Modified Reimbursement--Department of Transportation The Department of Transportation will request Federal funds once the expenditures have been incurred, recorded, and identified as billable. In most instances, the request of funds will occur after the State has paid out its funds. This funding technique is interest neutral. Unemployment Insurance Electronic Benefits The Employment Development Department (EDD) shall request an estimated amount of federal funds for CFDA 17.225 F/S such that they are deposited by ACH FedWire in a State account on the dollar weighted average day date of clearance for payments issued by the disbursement State. The request shall be made in accordance with the clearance pattern Average Clearance Payroll appropriate Federal Agency cut-off time specified in Exhibit III. EDD shall track daily (1) the amount of federal funds received, (2) actual disbursement amounts and (3) the residual between (1) and (2). The Payroll clearance pattern will State shall estimate and request federal funds based these three inputs. Any residual amount shall be applied disbursed on the following working day. The EDD shall evaluate and adjust daily to an estimate of minimize the actual payroll cost residual amount based on the most recent cost allocation distributionactual weekly trend. This estimate funding technique is not interest neutral. Zero Balance Accounting The State departments will request Federal funds one day before the funds are transferred to the service delivery area agencies. The funds will be reconciled transferred to actual costs approximately 30-50 days after the end of State on the quarterfollowing business day. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is On the same day that the Federal Funds are deposited into the State account, the funds will be wire transferred or interbranch deposited into the service delivery area department bank account. No State and Federal interest neutral. Bi-Weekly Actual - Payroll The liability will be incurred if funds are deposited in a State will request funds bi-weekly based account on the actual expenditures incurred during next business day and the biweekly payroll cycle. The request shall be made in accordance with funds are paid out for program purposes on the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclesame day. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 4 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly BiWeekly The State shall request will draw down funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for biweekly basis based on the actual expenditures which occurred in the past weekly biweekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Actual Drawdown - Weekly Actual - Payroll The State will request draw down funds bi-on a weekly basis based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment which occurred in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds past weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Daily Estimated Draw The State will use historical data to determine an estimate for the daily average debit card payments and will draw funds the day the unemployment payment batch file is sent to the bank. This is the same day that the debit card amount is debited from the bank account. The estimate will be reconciled on a daily basis and any shortfall will be added to the next estimated federal draw. Any overage will be subtracted from the next estimated federal draw. This funding technique is interest neutral. This funding technique is interest neutral. Daily Estimated Draw ZBA - ACH The State will use historical data to determine an estimate for the daily average debit card payments and will request and receive funds via Fedwire on the same day the unemployment payment batch file is sent to the bank. This is the same day that the debit card amount is debited from the bank account. The estimate will be reconciled on a daily basis and any shortfall will be added to the next estimated federal draw. Any overage will be subtracted from the next estimated federal draw. This funding technique is interest neutral. This funding technique is interest neutral. This funding technique is interest neutral. Weekly Draws The Drawdown - Actual & Estimate State shall request funds once such that they are deposited in a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based account on the amount calculated as due by median business day of the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)week. The request shall be made in accordance with the appropriate Federal agency Agency cut-off time specified in Exhibit I. The amount requested shall be comprised of two portions. Portion 1 - will include the actual expenditures made during the previous two business days, Portion 2 - will include an estimate of the expenditures to be made in the next three business days. Each week, the current cash balance will be taken into consideration through revenue and expense analysis. Any cash imbalances will be corrected in the current week's drawdown. In the event the Payment Management System (PMS) will not allow funds to be returned on the draw date, they can be returned in the days following the draw date. This funding technique is interest neutral.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Indirect Cost Recovery/Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cutBase Description-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th seventh working day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on determined by applying the indirect cost rate to the actual direct salary expenditures of the prior quarter. The requested funds are to recover actual costs allocated to of the program for the prior quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cutPost-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Issuance The State shall request funds such that they are deposited by ACH on in a State account after the dollar- weighted average day of clearance for State issues checks, but before the disbursement, in accordance with the clearance pattern specified in Exhibit IIchecks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that the disbursement. This funding technique is not interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Indirect Cost Allocation Plans Rates - Actual Base - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based determined by applying the indirect cost rate to the appropriate cost base of the prior month. This funding technique is interest neutral. Indirect Cost Rates - Actual Base - Quarterly The State shall request funds once a quarter, such that they are deposited on actual costs distributed the median day of the quarter. The request shall be made in accordance with the State's approved appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be determined by applying the indirect cost allocation planrate to the appropriate cost base of the quarter. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Direct Administrative Costs - Drawdowns on a Payroll Cycle The State shall request funds for all direct administrative costs such that they are deposited on the dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral. Indirect Cost Allocation Plans Rates - Actual Base - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with determined by applying the State's approved indirect cost allocation planrate to the appropriate cost base of the prior month. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Reimbursable Funding The State State, by choice, for internal operating purposes, shall request funds on a weekly basisafter state checks clear. The This request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for equal the actual expenditures which occurred in exact amount of the past weekly perioddisbursement. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Composite Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day number of clearance days required for the disbursementfunds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount sum of that disbursementthe payments issued in the series of disbursements. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Base Quarter Amount, Bi-weekly The State shall request funds such that they are deposited in a State account on a weekly basisthe average day of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the actual amount of administrative expenses for the actual expenditures which occurred base quarter, divided by the number of pay periods in the past weekly periodcurrent quarter. The base quarter shall be the most recent quarter for which actual data is available. Once each quarter, as soon as possible after the first business day of the quarter, the State shall make an adjustment in its next request for funds to reconcile the difference between the funds drawn for the period and the actual costs incurred. The adjustment shall be interest neutral. This funding technique is interest neutral. Modified Average Clearance - Modified Clearance, Monthly Estimate The State shall request funds such that they are deposited by ACH in a State account on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quartermonthly disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time cutoff times specified in Exhibit I. The amount drawn shall be an estimate of the value of the monthly disbursement. Once each quarter, as soon as possible after the close of the prior quarter, the State shall adjust for the difference between the total amount drawn and the actual costs incurred or the Federal settlement of the claim. The adjustment shall be interest neutral. This funding technique is interest neutral. Bi-Weekly Actual - Payroll Payment Schedule (Annual Award, Monthly) The State will request shall receive funds bi-weekly based such that they are deposited in a State account on the actual expenditures incurred during 1st banking day of the biweekly payroll cyclemonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request the receipt shall equal be 1/12 of the total actual expenditures posted during annual grant award. Program disbursements are to be made such that they clear on the State's bi-weekly payroll cyclefirst banking day of the month. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Prior Month Actual, Mid-monthly The State shall request funds once a month, such that they are deposited on the 15th calendar day of the month month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request will be the actual disbursements of the preceding month; i.e. the draw for August 15th will be in the amount of the July actual disbursements. If both the State and Federal Government fulfill and adhere to the specific elements and timing of this funding technique, the State voluntarily waives Federal interest liabilities resulting from the State prior expenditure funding technique. This funding technique is interest neutral. Quarterly Estimate, Same Day Payment, Biweekly The State shall request funds such that they are deposited in a State account on the day of the request. The request shall be made in accordance with the appropriate Federal agency cut off time specified in Exhibit I. The amount of the request shall be an estimate of expenses for the current period, divided by the number of pay periods in the quarter. Once each componentquarter the State shall make a draw adjustment to reconcile the difference between the funds drawn for the period and the actual costs incurred or the federal settlement of the claim. The adjustment shall be interest neutral. This funding technique is interest neutral. Quarterly Estimates, Bi-weekly The State shall request funds such that they are deposited in a State account on the average day of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on an estimate of all administrative expenses for the most recent monthly expenditure data available based on either actual or estimated costscurrent period, whichever is applicable to divided by the componentnumber of pay periods in the quarter. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of Once each quarter, the State shall make an adjustment to request funds to reconcile the difference between the funds drawn for the period and the actual costs incurred or the federal settlement of the claim. The adjustment shall be interest neutral. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Reimbursement Analysis The State shall request funds once a quarter, such that they are deposited on the 30th day upon determination of the month following reimbursable costs incurred by the end of the quarterState. The request shall will be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Payments to the State owned/operated medical services are paid by State funds and reflected in Molina, the State's fiscal agent, based on division cost reports. The amount of draw reimburses the State for costs previously incurred and offset by any rebates or recoveries: therefore, it is not disbursed and the State shall request shall be funds every Monday based on the actual costs allocated weekly Molina reports. If both the State and Federal Government fulfill and adhere to the program for specific elements and timing of this funding technique, the quarterState voluntarily waives Federal interest liabilities resulting from the State prior expenditure funding technique. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of the month, to fund activity clearance of the prior monthpayroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed since the last request for funds. This funding technique is interest neutral. Fixed Administrative Allowances - Bi- Weekly Payroll The State shall request funds such that one-sixth (or one-seventh) of the quarterly administrative allowance is deposited on the dollar-weighted average date of clearance for payroll payments, as specified in the appropriate clearance pattern in Exhibit II. The request shall be made in accordance with the State's approved cost allocation plan. appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Costs - Bi-Weekly Request The State shall request funds at bi-weekly intervals, such that funds are deposited on a weekly basisthe day of clearance for payroll payments. The request shall be made in accordance with the appropriate Federal agency cut-off time as specified in Exhibit I. The amount of the request for each bi-weekly period shall be for derived from actual costs of the actual expenditures which occurred prior two week period including any material one-time payments. The State shall request administrative costs at the end of each quarter in conjunction with the past weekly periodquarterly Federal reports. This funding technique is interest neutral. Average Clearance Actual Costs - Modified Estimated Allocation - Daily The State shall request funds such that they are deposited by ACH on a daily basis based on the dollar weighted average day amount of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIUI payments. The Payroll clearance pattern will be applied state shall adjust the estimated drawdowns to an estimate of the actual payroll cost based disbursements on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclea monthly basis. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Daily Wire On each business day, a benefit payment debit card verification report is generated which is then used to calculate the daily actual draw. On the same business day, the actual amount needed is requested and funds are wired from the Trust Fund into the State's Benefit Account. As the wire clears, funds are then paid out the same day via ACH to the benefit payment debit cards. It then takes two business days for 100% of these funds to clear the State Benefit Account. This funding technique is interest neutral. Actual Drawdown - Weekly The State shall request funds on a weekly basisbasis based on the actual expenditures which occurred in the past weekly period. The State voluntarily waives Federal interest liabilities resulting from this State prior-expenditure funding technique. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request requested shall be for the actual expenditures which occurred in the past weekly periodincurred and reconcilement is not required. This funding technique is not interest neutral. Average Clearance - Modified ZBA Same Day Payment The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on claims presented at the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30State's zero-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cyclebalance bank account each day. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount drawn will be based upon the actual dollar amount of each request shall equal the total actual expenditures posted during the State's biprogram-weekly payroll cycleeligible retailer claims for that day. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified Direct Draw The State shall request funds such that they are deposited by ACH on the dollar weighted average in a State account one day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of date that agency to agency transfer expenditures are posted by a State agency in the quarterComptroller's accounts. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly Fee for Services Rendered This program's administrative costs are based and earned on the actual expenditures incurred during number of payments processed to beneficiaries. The request and receipt of funds will coincide with the biweekly payroll cycledraw for the beneficiaries' portion. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals Indirect Cost Rates - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Actual Base Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of during the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on determined by applying the indirect cost rate to actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days expenditures of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the prior quarter. This funding technique is interest neutral. Payment Schedule This funding technique applies to CFDA 93.658 only. The State shall request funds such that they are deposited in a State account on the fifth business day following the fifteenth day of each month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures (request for funds shall be one-third of the quarterly estimate. The initial award for a particular quarter is based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the estimated need for that quarter. For Demonstration Projects, where actual expenditures are not available until 30 days One month after the end of the quarter, reports from providers are used to determine the actual disbursements for the quarter. The difference between the estimate and the actual is reported as an adjusting draw will occur within 45 days adjustment on the submission of the next quarterly claim request. In the event that actual disbursements exceed the estimate, the difference is expected to be awarded on the first of the month, three months after the end of the quarter in which the expense was reported. The State is eligible to calculate a Federal Interest liability in the event the award is not posted into the proper Connecticut Department of Children and Families account in the U. S. Department of Health and Human Services Payment Management System by the first of the month. The accrual of interest would commence on the first of the month, three months after the end of the quarter in which the expense was incurred until the award is posted in the Payment Management System. If the end of quarter reconciliation reveals that the States estimate exceeded actual disbursements for the quarter's end, the State interest liability will accrue from the date Federal funds were overdrawn until the date the overdraw liability is offset. This funding technique is interest neutral. Post Expenditure Funding Prorated Draw - Medical Assistance - EFT The State shall request Federal funds only after related expenditures have been warranted for payment such that they are deposited by ACH in a state account on the settlement date of payments issued by the State’ s Accounting System. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. I. The amount of the request shall be 99.3 percent of the benefit payments paid (except Additional Low Income Medicare Beneficiary, School Based Child Health Programs, and Medicare Part B Premiums). The award shall be based on an estimate of the need for a calendar quarter. After the end of the quarter, a report of actual expenditures shall be submitted. Reconciliation award requests shall be made for the amount difference between actual expenditures and the estimate. Adjustments to funds drawn shall be scheduled upon receipt of that disbursement in whole dollarsreconciliation awards. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for Prorated Draw - Unemployment Insurance Prorated draws of the programprevious month's expenditures to be reconciled on a monthly basis to actual expenditures. The amount shall drawdowns will be on a bi-weekly basis and coincide with the Bi-Weekly Payroll date of clearance for all eligible costs that have been recorded since the last request for fundspayroll checks. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Prorated Draws The State shall request draw down a prorated amount of the quarterly estimate of its administrative award funds once such that they are deposited by ACH in a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based account on the amount calculated as due by the Program, since the last request average day of clearance for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)payroll during each pay period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. I . This funding technique is interest neutral.
Appears in 3 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Bi-weekly Draws The State shall request draw down funds on a for allocated, indirect, and incidental administrative costs at bi-weekly basisintervals. The request shall be made on each state payday and in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request funds drawn each bi-weekly period for allocated, indirect costs and incidental administrative costs shall be a pro-rata share of the quarterly grant award for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIcosts. The Payroll clearance pattern will quarterly grant award shall be applied to an estimate of the actual payroll cost prorated based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end number of the quarter. The request shall be made paydays in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each calendar quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Bi-weekly Estimated Allocation The State shall request funds at bi-weekly intervals, such that they are deposited in a State account on a weekly basisthe dollar-weighted average day of clearance for payroll payments, as specified in section 7.3. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for each bi-weekly period shall be an estimate based on the related cost allocation of the last three months for which an allocation has been performed. The bi-weekly requests shall also be adjusted for the difference between estimated and actual allocated expenditure amounts following the actual allocation. This funding technique is interest neutral. Composite Average Day of Clearance (ADOT) The Arizona Department of Transportation (ADOT) shall bill FHWA weekly for all major contractor and consultant payments, miscellaneous supplies and service payments, and payroll payments. The funds shall be requested such that they are deposited in a State account on the average day of clearance for the major contractor payment component which accounts for approximately 85% of all program dollars expended by ADOT. Per Federal Regulations, Federal interest may be calculated from the last day of the last billing if xxxxxxxx are weekly. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in amount of the past weekly periodFederal share of the disbursement per the specific Federal Project Agreement. This funding technique is interest neutral. Average Clearance - Modified Pre-Issuance Grant Anticipation Revenue Vehicle (GARVEE) Bond Repayment The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate Arizona Department of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State Transportation will request funds bi-weekly based for the repayment of GARVEE bonds issued. The Federal legislation that enables reimbursement of such costs is described in Title 23, United States Code, Section 122. Funds may be requested up to seven business days in advance of the bond payment. This early drawdown has been approved by the Federal Highway Administration (FHWA). Funds will be requested for payments of principal and interest on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclebonds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Reimbursement The State shall request requests funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days a State account after the end of each quarterState has disbursed funds for Federal assistance program purposes. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly WIC Formula Rebates The State shall request funds once deposit the rebates in a quarter, such that they are State account and use them to offset the subsequent draw downs for food voucher redemptions until another draw down is necessary to meet redemption demands. Interest earned on rebate money deposited on the 30th day of the month following the end of the quarter. The request in State accounts shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request used for program purposes. No other liability shall be based on the actual costs allocated to the program for the quarterincurred using this funding technique. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Costs-Modified Clearance The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State District shall request funds once a month, month such that they funds are deposited on or about the day 25th of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quartermonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to expenditures incurred that are available for drawdown and have cleared the program for the quarterDistrict's account. This funding technique is interest neutral. Fixed Administrative AllowancesBi-BI- Weekly Payroll (modified)-Dollar Weighted Actual The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State District shall request 1/6 or 1/7 of the quarterly award, funds bi-weekly based on the number of pay periods within actual expenditures made during the quarterprevious two week period. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State amount of each request shall draw down 1/12 of equal the total annual expected expenditures (based on actual expenditures of posted during the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30District's bi-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's endweekly billing cycle. This funding technique is interest neutral. Post Expenditure Funding Direct Costs The State shall request Federal funds only after related cash expenditures have been warranted for payment recorded in the State’ s System of Accounting Systemand Reporting (SOAR). The request shall be made in accordance with Because the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursementprocess is a manual one, and as long as the State receives the Federal funds no later than we expect reimbursement from FHWA two business days after warrantedwire requests are made. In the event of a treasury offset, neither the State nor the Federal Government shall incur which results in an interest liabilityACH transfer, this may delay receipt of federal funds by up to an additional two business days. The amount of the request shall be for the amount actual sum of cash expenditures that disbursement in whole dollarshave been incurred, recorded, identified, and reconciled as billable from the preceding week. This funding technique is interest neutral. Weekly Billing Modified Average Clearance - Non- Personnel Services The State District shall request funds a bi-weekly draw for deposit on the dollar-weighted average day of clearance for the programdisbursement, in accordance with the clearance pattern in Exhibit II. The amount shall Any required adjustments will be made with the first draw down of the following quarter. Child and Family Services Agency will request quarterly draw for all eligible costs that have been recorded since deposit based on CB-496 Financial claiming reports submitted to the last request Department of Health and Human Services, Administration for fundsChildren and Families. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Non Personal Service expenditures will be based on the average expenditure cost of the previous quarter. This funding technique is interest neutral. Weekly Draws Modified Average Clearance - Payroll The State District shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based bi-weekly draw for deposit on the amount calculated as due by dollar-weighted average day of clearance for the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposesdisbursement, in accordance with the clearance pattern specified in Exhibit II (MMIS)II. Payroll will be based on the average payroll cost of the previous quarter. Any required adjustments will be made with the first draw down of the following quarter. Child and Family Services Agency will request quarterly draw for deposit based on quarterly CB-496 Financial claiming reports submitted to the Department of Health and Human Services, Administration for Children and Families. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the funds request is determined by the agency. This funding technique is interest neutral. OSSE Billable Costs The State shall request funds only after related cash expenditures have been recorded in the System of Accounting and Reporting (SOAR). The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the actual sum of cash expenditures that have been incurred, recorded, identified, and reconciled as billable from the preceding week. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Composite Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day number of clearance days required for the disbursementfunds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact sum of the payments issued in the series of disbursements. This funding technique is interest neutral. Estimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Payment Schedule - Bi-Weekly The State shall request funds such that disbursementthey are deposited in a State account on the median business day of the bi-weekly period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 26, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 26. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly After Cost Allocation The State agency will make payments for programs purposes with state funds. Federal funds will be requested after actual costs are allocated to programs and funding sources or based on estimated allocations. The request will be made in accordance with cut-off times in Exhibit I (Funds Request and Receipt Time Schedule). All estimates will be reconciled within a 90 day period. The state will voluntarily not file a federal interest liability claim for the difference of federal funds earned versus funds estimated. This funding technique is interest neutral. Direct Administrative Costs-Payroll Additive Rate The State shall request funds for the payroll additive rate such that it is deposited on a weekly basisthe dollar-weighted average as calculated in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount payroll additive rate is a portion of payroll that is set aside for Department of Highways personnel. It is not used by the request shall be State Department of Highways. The rate is used to allocate a cost for leave and benefits for West Virginia Department of Highways personnel working on a federal project, and is a percentage of direct labor costs. It is charged to the project and billed to the Federal Government at the pro rata established for the actual expenditures which occurred in the past weekly periodproject. This funding technique is interest neutral. Average Clearance - Modified Pre-Issuance (DHHR Only) The State state shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIbased upon estimated expenditures. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost federal cash balance is based on the most recent cost allocation distributionletter of credit for each grant and balanced in a DHHR specific database. This estimate will be The federal cash balance can change due to adjustments by the granting agency for approved/disapproved disbursements. The estimated draws are based upon past experiences and are reconciled to actual costs approximately 30-50 90 days after the end quarter ends. The West Virginia State Treasurer's Office will apply a First-In First-Out method to match draws to expenditures and calculate the interest liability. Settlement draws and retro draws will be used to replenish the federal cash balance but will not match to expenditures. This technique is agency specific for the Department of Health and Human Resources due to the complexity of the quarterprograms covered and the State's Accounting System limitations. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified times in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycleI (Funds Request and Receipt Time Schedule). This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Indirect Cost Recovery/Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cutBase Description-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th seventh working day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on determined by applying the indirect cost rate to the actual direct salary expenditures of the prior quarter. The requested funds are to recover actual costs allocated to of the program for the prior quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Payment Schedule - Bi-Weekly The State shall request funds such that they are deposited by ACH in a State account on the dollar- weighted average median business day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit IIbi- weekly period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for a prorated share of the exact lesser of (1) the annual grant divided by 26, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 26. This funding technique is interest neutral. Payment Schedule - Monthly The State shall request funds such that disbursementthey are deposited in a State account on the median business day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 12, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Monthly Draws-Prior Month Activity The State shall request funds once a month, such that they are deposited on a weekly basisthe median day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request for a given months activity shall be for the actual expenditures which occurred in the past weekly perioddirect costs. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30Monthly Draws-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly Prior Month Activity (modifiedindirect costs) The State shall request funds once a month, such that they are deposited on the median day of the month specified for each componentmonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request for a given months activity shall be based on the most recent monthly expenditure data available based allocation of indirect costs. These costs shall be reconciled on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quartera quarterly basis. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Non Central Draw Indirect Cost Rate-Monthly The State shall request funds once a quartermonth, such that they are deposited on the 30th median day of the month following the end of the quartermonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request shall be based on calculated by applying the actual costs allocated indirect cost rate to the program for appropriate cost base of the quarterprior month. This funding technique is interest neutral. Fixed Administrative AllowancesSemi-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing Monthly The State shall request funds weekly for the program. The amount shall be for all eligible costs end of the first and third week each month to fund the activity that have been recorded has occurred since the last request for fundsmost recent draw. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a weektimes. The Voucher Only amount requested of the request will be based on expenditures incurred and recorded in for the State of Maryland's Medicaid Management Information System (MMIS)actual activity that has occurred. The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Indirect Cost Allocation Plans Rates - Monthly Proportionate Shares The State shall request funds once include a month, such that they are deposited on the median day proportionate share of the month, indirect cost allowance in each request for funds by applying the indirect cost rate to fund activity the appropriate cost base of the prior montheach drawdown. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed determined by applying the indirect cost rate to the appropriate cost base estimated in accordance with the State's approved cost allocation plandrawdowns. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Monthly Draws The State shall request funds on draw down once a weekly basis. The request shall be made in accordance with month, approximately mid-month by applying the indirect cost rate to the appropriate Federal agency cut-off time specified in Exhibit I. The amount direct costs of the request shall be for the actual expenditures which occurred in the past weekly periodprior month. This funding technique is interest neutral. Average Clearance - Modified The State draw shall request funds such that they are deposited by ACH on cover indirect costs incurred during the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarterprior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. BiNon-Weekly Actual Cash No funds are requested as this is a non-cash funding technique, as funding consists of commodities, food items, which are served in the National School Lunch Program by public, charter and private schools and Residential Child Care Institutions (RCCIs). United States Department of Agriculture (USDA) allocates Texas Department of Agriculture (TDA) a dollar value of food and TDA makes food items available through TDA's automated system. The commodities are administered by TDA and are delivered by USDA directly to a TDA contracted warehouse for schools to draw down or to public, charter, and private schools and RCCIs. Cut-off time specified in Exhibit I does not apply as this is a non-cash funding technique. No funds are requested as this is a non-cash funding technique. This funding technique is interest neutral. Pre-Issuance as it applies to the TX Dept of Transportation - Payroll First Week Because highway contractor payments occur during the first week of each month, the Texas Department of Transportation (TXDOT) requests payment for all accrued expenditures submitted by highway contractors during this time. Federal reimbursement funds are needed immediately after TXDOT issues a payment check or EFT to its highway contractors. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. TXDOT calculates the necessary funding based on a project's funding profile and the associated federal share. This funding technique is not interest neutral. Reimbursement The State will requests funds such that they are deposited in a State account after the State has disbursed funds for Federal assistance program purposes. This funding technique is interest neutral. Weekly Draws - Texas Department of Transportation (Program Cost/Other) Each week (excluding the first week of the month), the Texas Department of Transportation (TXDOT) shall request payment for expenditures (submitted by contractors and for all other direct cost) that have been paid for by the State Highway Fund. TXDOT needs federal reimbursement funds bi-within one to three weeks from when a payment check or EFT has cleared the bank. The frequency of federal reimbursement funds involving this weekly based on the actual expenditures incurred during the biweekly payroll cycledraw funding technique is around three times per month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal funds TXDOT can bill depends on the total actual expenditures posted incurred during this time frame. The agency calculates required funding based on the Stateproject's bi-weekly payroll cyclefunding profile and the associated federal share. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Estimated Clearance The State shall request funds such that they are deposited in a State account not more than three business days prior to in accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be disbursement, according to the amount the State expects to disburseState's clearance pattern specified in Exhibit II - EC. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Drawdowns at Fixed Intervals - Weekly Daily The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds such that they are deposited by ACH in the State Account using an estimated daily average cost that is based on the actual costs of the month two months prior to the current month. Estimated indirect costs will be recorded daily to unique expenditure accounts. At the end of the month, actual costs for the prior month will be recorded, and the prior month' s estimated costs reversed. The funds will be reconciled monthly after the cost allocation program has been run. The State will draw or return funds based on the reconciliation differences for the month. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds weekly on Wednesday such that they are deposited on the following business day. The amount of the request shall be based on the amount of actual cash outlays for direct and indirect administrative costs during the prior week, Wednesday through Tuesday. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly (2) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds weekly on Wednesday such that they are deposited on the following business day. The amount of the request shall be based on the amount of actual cash outlays for direct and estimated indirect administrative costs during the prior week, Wednesday through Tuesday. The estimated indirect costs are based on the actual indirect costs of the month two months prior to the current month. At the end of the month, actual indirect costs for the prior month will be recorded, and the prior month' s estimated costs reversed. The funds will be reconciled monthly after the cost allocation program has been run. The State will draw or return funds based on the reconciliation differences for the month. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly (3) The Department of Transportation shall submit a weekly invoice for all program costs and payments. There maybe instances that require MDT to draw more than once within a week (i.e. month-end closing or large dollar payments that cannot wait until the next weekly draw). The request of the funds shall be made in accordance with the appropriate Federal agency cut-off time in Exhibit I to the extent practical. The amount of the request shall be the amount of actual costs and payments incurred since the last request for funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly (4) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds weekly on Wednesday, or as reasonable to address negative cash needs, such that they are deposited on the date of receipt from the appropriate Federal Agency. The amount of the request shall be based on the amount of actual program costs incurred during the prior week, Wednesday through Tuesday. This funding technique is interest neutral. Modified Actual Clearance (ZBA - ACH) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Each day, the State will receive notification of the amount of EBT benefits and fee payments that processed the previous day, and the State's cash balance will be reduced by the amount of EBT payments processed. On the same day, the State will request that amount and receive and deposit the funds on the same day requested. This funding technique is interest neutral. Payment Schedule - HUD The Department of Commerce completes monthly reports during the fiscal year. HUD (Housing and Urban Development) uses these monthly reports to calculate the amount of HAP (Housing Assistance Payments) and direct administrative costs needed by the State for the next fiscal year. HUD pays the calculated amount on the first business day of each month during the fiscal year. The Department of Commerce will disburse the funds in the following manner:
(1) Payments to landlords by EFT (Electronic Fund Transfer) will be disbursed so that the settlement date is within the first five business day of the month and the 15th day of the month or the closest working date after the 15th.
(2) Payments to landlords by warrant will be issued within the first five business day of the month and the 15th day of the month or the closest working date to the 15th. Emergency warrants will be considered and settled on a weekly case by case basis. The warrant clearance pattern listed in Exhibit II will be used.
(3) Direct administrative costs will be recorded on the dollar-weighted average date of clearance of payroll.
(4) Indirect administrative costs will be recorded at the end of each month. The costs will be calculated using the indirect cost rate and actual salary expenditures for the month. This funding technique is interest neutral. Payment Schedule - HUD (2) The Department of Commerce electronically transmits voucher payment information to HUD via TRACSMail approximately four business days prior to the last business day of the month. HUD' s Tenant Rental Assistance System (TRACS) compares the transmitted voucher information to HUD data on file. The voucher payment request, excluding any voucher and contract discrepancies identified in the comparison process, is then forwarded to the HUD payment funding system (LOCCS Line of Credit Control System). On the last business day of the month, LOCCS sends an e-mail to the Department of Commerce regarding the HUD deposit scheduled for the first business day of the next month. The e-mail includes an estimated deposit date, dollar amount, and an attachment with individual contract payment detail. The Department of Commerce reconciles the voucher payment information transmitted to HUD to the LOCCS e-mail deposit total. The Department of Commerce will then disburse housing assistance payments by EFT (Electronic Fund Transfer), so that the settlement date is the first business day of the month, except for the months of January and July.The settlement date will be the second business day of those months due to 1099 reporting (January) and fiscal year-end reporting (July). This funding technique is interest neutral. Reimbursable Funding (EFT) The State shall request funds from the Department of Defense/National Guard Bureau (DoD/NGB) on the payment date of electronic fund transfer payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cutoff time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the payment date. This funding technique is not interest neutral. Reimbursable Funding (Warrants) The State shall request funds from the Department of Defense/National Guard Bureau (DoD/NGB) on the issue date of State warrant payments. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in exact amount of the past weekly periodwarrant disbursement. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cutPost-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Issuance The State shall request funds such that they are deposited by ACH on in a State account after the dollar- weighted average day of clearance for State issues checks, but before the disbursement, in accordance with the clearance pattern specified in Exhibit IIchecks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that the disbursement. This funding technique is not interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Indirect Cost Allocation Plans Rates - Actual Base - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based determined by applying the indirect cost rate to the appropriate cost base of the prior month. This funding technique is interest neutral. Indirect Cost Rates - Actual Base - Quarterly The State shall request funds once a quarter, such that they are deposited on actual costs distributed the median day of the quarter. The request shall be made in accordance with the State's approved appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be determined by applying the indirect cost allocation planrate to the appropriate cost base of the quarter. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There Funding Technique Name Description Capitalization Grants for State Revolving Funds The State shall request funds to minimize the time between the drawdown of funds from Treasury and their deposit into the revolving fund. The timing of the drawdown of Federal funds for deposit to the revolving fund is subject to the interest provisions of 31 CFR Part 205, however there is an interest exemption for the interest the State earns once the funds are currently no deposited into the revolving fund. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of the funds to be used for immediate program purposes. The State will not incur an interest liability for interest earned on revolving fund loans. This funding techniques listed in Section 6.2.3technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Administrative Non-Payroll Costs - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH in a State account on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each componentTuesdays. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either previous week's actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterexpenses. This funding technique is interest neutral. Drawdowns at Fixed Intervals Contractor Payments - Quarterly Post Issuance The State shall request funds once a quarter, such that they are deposited on in a State account by ACH the 30th day of after the month following State issues checks, but before the end of the quarterchecks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to amount of the program for the quarterdisbursement. This funding technique is not interest neutral. Fixed Cost Allocation Plans - Administrative AllowancesCosts- Bi-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. weekly The State shall request 1/6 or 1/7 funds bi-weekly, such that they are deposited on the day of the quarterly award, based on the number of pay periods within the quarterState's payday. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures (request shall be the prorated amount of administrative costs base on the most recent, certified, quarterly cost allocation, with adjustments made to subsequent draws based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made labor distributions and recoveries, when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's endapplicable. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Composite Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day number of clearance days required for the disbursementfunds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount sum of that disbursementthe payments issued in the series of disbursements. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Actual Costs - Estimated Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund the activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be an estimate based on the actual costs of the month distributed in accordance with to the State's approved cost program according to the allocation planof costs for the preceding six months. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made There are no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.Section 6.2.4
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day.This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse.This funding technique is not interest neutral. Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. .This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Estimated Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in a State account in accordance with the clearance pattern specified in Exhibit IIII - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be for disbursement, according to the exact amount of that disbursementState's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Costs - Weekly Department of Human Services The State shall request funds for all Direct and Indirect payments on a weekly daily basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent amount of liabilities recorded since the last request for funds. The amount of Indirect Costs to be requested per program shall be determined based on prior quarter cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarterpercentages by fund. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual Costs - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Direct Administrative The State shall request funds once for all Direct Administrative costs on a month, such that they are deposited on the day of the month specified for each componentdaily basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual liabilities recorded for direct administrative costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws Actual Costs - EFT - Department of Human Services (CFDA 93.778) The State shall request funds for all Medicaid Direct paid via EFT once a per week. The Voucher Only request for funds shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount requested will be based on expenditures incurred and recorded in of the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will request shall be based on the amount calculated as due by the Program, of liabilities recorded since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This funding technique is considered interest neutral. Average Clearance - Highway (CFDA 20.205) The Arkansas Department of Transportation has a Direct Deposit system for payment of Construction Contractor payments. This system is available to contractors on a voluntary basis (approximately 90% are currently utilizing the system). Clearance patterns will be interest neutral andrevised as needed when the Direct Deposit of contractor payments affect the average clearance. Request of Federal funds by electronic wire transfer are made weekly, based on the information availableweekly expenditures, matches as closely as possible the draw of Federal funds and correspond with the time they are paid out established clearance patterns. The request for program purposes, funds shall be made in accordance with the clearance pattern appropriate Federal agency cut-off time specified in Exhibit II 1. This funding technique is interest neutral. EBT Debit Cards (MMISCFDA 93.558) The monthly recurring payments for the TANF program are authorized on the 1st of each month. Draw requests will be made such that Federal reimbursements are received by the State based on the daily and monthly reports produced by the Arkansas Client Eligibility System (ACES). The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Weekly draw requests will be submitted to fund benefits for new clients based on the daily reports out of the Electronic Payment Processing and Information Control System (EPPIC). This funding technique is interest neutral. Monthly Billing - Highway (CFDA 20.205) The State will request funds from the U.S. Department of Transportation for monthly payroll and administrative costs on the second billing subsequent to the close of the month in which State issued payment. The billing will be submitted on the normal weekly billing with the Vendor/Contractor costs. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Bi-weekly Estimated Allocation The State shall request funds at bi-weekly intervals, such that they are deposited in a State account on a weekly basisthe dollar-weighted average day of clearance for payroll payments, as specified in section 7.3. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for each bi-weekly period shall be an estimate based on the related cost allocation of the last three months for which an allocation has been performed. The bi-weekly requests shall also be adjusted for the difference between estimated and actual allocated expenditure amounts following the actual allocation. This funding technique is interest neutral. Composite Average Day of Clearance (ADOT) The Arizona Department of Transportation (ADOT) shall xxxx FHWA weekly for all major contractor and consultant payments, miscellaneous supplies and service payments, and payroll payments. The funds shall be requested such that they are deposited in a State account on the average day of clearance for the major contractor payment component which accounts for approximately 85% of all program dollars expended by ADOT. Per Federal Regulations, Federal interest may be calculated from the last day of the last billing if xxxxxxxx are weekly. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in amount of the past weekly periodFederal share of the disbursement per the specific Federal Project Agreement. This funding technique is interest neutral. Average Clearance - Modified Pre-Issuance Grant Anticipation Revenue Vehicle (GARVEE) Bond Repayment The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate Arizona Department of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State Transportation will request funds bi-weekly based for the repayment of GARVEE bonds issued. The Federal legislation that enables reimbursement of such costs is described in Xxxxx 00, Xxxxxx Xxxxxx Code, Section 122. Funds may be requested up to seven business days in advance of the bond payment. This early drawdown has been approved by the Federal Highway Administration (FHWA). Funds will be requested for payments of principal and interest on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclebonds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) WIC Formula Rebates The State shall request funds once deposit the rebates in a month, such that they are State account and use them to offset the subsequent draw downs for food voucher redemptions until another draw down is necessary to meet redemption demands. Interest earned on rebate money deposited on the day of the month specified for each component. The request in State accounts shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request used for program purposes. No other liability shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterincurred using this funding technique. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Draw - Weekly Monthly The State shall request draw down funds on a weekly basismonthly after month-end accounting reports are verified of the previous month's actual expenditures. The request Requests shall be made in accordance with the appropriate Federal agency cut-off time specified time(s) in Exhibit I. The amount 1. Amount(s) drawn will be the accumulation of costs since the request shall be for the actual expenditures which occurred in the past weekly periodlast draw. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Actual Costs - Estimated Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund the activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be an estimate based on the actual costs of the month distributed in accordance with to the State's approved cost program according to the allocation planof costs for the preceding six months. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Highway Composite (Average Clearance) The Alabama Department of Transportation (ALDOT) will use an average clearance methodology described as follows: Using department files, ALDOT will capture federally participating expenditure data. The dollar amounts of the expenditures will not be reduced by the State share of funding. The clearance time is the difference between the disbursement redemption date and the expenditure posting date. A weighted clearance time is calculated by multiplying the clearance time by a weighting factor. The weighting factor is the federally participating expenditure amount divided by the total of all federally participating expenditure amounts of the disbursements redeemed in the reporting period. The average clearance time is the sum of the weighted clearance times. All uncleared disbursements will have a clearance time of three hundred sixty-five (365) days. All employee disbursements paid via payroll direct deposit will have a weighted clearance time of zero (0). Any disbursements with negative clearance times will have a weighted clearance time of zero (0). Expenditures that are not traceable back to ALDOT's accounts payable system will not be used in the average clearance calculation. These non-traceable expenditures are primarily the result of data entry errors and are expected to be infrequent, irregular, and have an immaterial impact on the results of the average clearance calculation. All requests for funds will be in accordance with the appropriate Federal agency cut-off time specified. ALDOT will use a weekly billing process for requesting Federal funds based on the federally participating expenditures posted during the billing cycle with one Federal deposit on the date of average clearance. Any refunds and program income received will be credited against the next billing cycle. Funds received by ALDOT for rentals of property and/or sale of property acquired with Federal program funds are considered to be program income. This funding technique is interest neutral. Scheduled Draws Funding Technique Name Description Actual Drawdown - Weekly The State shall request will draw Federal funds for administrative costs-payroll, administrative costs-other, and indirect costs on a weekly basisprorata basis to coincide with the semi-monthly payroll cycle (24 times per year) in accordance with 31 CFR 205.18(a). The request shall prorata amount of direct and indirect costs included in the drawdown will be based on the immediate cash needs to cover projected direct and indirect cost expenditures allocable to the program until the next scheduled drawdown. All requests will be made in accordance with the appropriate Federal agency cut-off time times specified in Exhibit I. The amount of the request shall Under these conditions and in accordance with 31 CFR 205.12(d), no interest liability will be for the actual expenditures which occurred in the past weekly periodincurred or calculated on these revolving loan funds. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral. Fixed Administrative Allowances - Bi-Weekly Payroll The State shall request funds such that one-sixth (or one-seventh) of the monthquarterly administrative allowance is deposited on the dollar-weighted average date of clearance for payroll payments, to fund activity of as specified in the prior monthappropriate clearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Costs - Bi-Weekly Request The State shall request funds at bi-weekly intervals, such that funds are deposited on the day of clearance for payroll payments. The request shall be made in accordance with the appropriate Federal agency cut-off time as specified in Exhibit I. The amount of the request for each bi-weekly period shall be derived from actual costs of the prior two week period including any material one-time payments. The State shall request administrative costs at the end of each quarter in conjunction with the quarterly Federal reports. This funding technique is interest neutral. Actual Costs - Estimated Allocation - Daily The State shall request funds on a daily basis based on the average amount of clearance for UI payments. The state shall adjust the estimated drawdowns to the actual disbursements on a monthly basis. This funding technique is interest neutral. Actual Costs Weekly The State shall request funds weekly basisfor non-administrative costs such that they are requested on Wednesday for receipt on Thursday. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request funds requested shall be based on the amount of expenditures recorded for non-administrative costs since the actual expenditures which occurred in the past weekly periodlast request for funds. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH HUD Payment Schedule HUD (Housing and Urban Development) pays a calculated amount on the dollar weighted average 1st business day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIeach month. The Payroll clearance pattern will be applied to an estimate budget is approved at the beginning of each calendar year. The amount of the actual payroll cost based on monthly allocation is documented in the most recent cost allocation distributionannual budget approved by HUD. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual Modified Direct Administrative Costs - Drawdowns on a Payroll Cycle The State will shall request funds bi-weekly based for all direct administrative costs such that they are deposited no later than Friday on the actual expenditures incurred during the biweekly a payroll cycleweek. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclefor funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals Modified Direct Administrative Costs - Monthly (modified) Weekly The State shall request funds once a month, weekly for administrative costs such that they are deposited requested on the day of the month specified Wednesday for each componentreceipt on Thursday. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request funds requested shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to amount of expenditures recorded for administrative costs since the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterlast request for funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals Modified Payment Schedule - Quarterly Weekly The State shall request funds once a quarter, such that they are deposited on no later than the 30th second business day of the month following week for receipt no later than the end third business day of the quarterweek. The amount of the request shall be based on the amount of the actual funds expended in the prior week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit
I. The U.S. Treasury and the State shall agree that use of this methodology shall be interest neutral for both parties. This funding technique is interest neutral. Modified Payment Schedule Weekly, Accounting System Generation of Drawdown Request File The State shall request funds the third or fourth business day of the week for receipt no later than the fourth business day of the week. The amount of the request shall be based on the amount of the actual expenditure transactions posted to the accounting system the third business day of the prior week through the second business day of the current week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. 1. The amount U.S. Treasury and the State shall agree that use of the request this methodology shall be based on the actual costs allocated to the program interest neutral for the quarterboth parties. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarterPrior Month's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing Actual The State shall request funds weekly for such that they are deposited in a State account in accordance with the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsclearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in In Exhibit I. The amount of the request shall be for the amount of expenditures incurred in the prior month. A departmental report will be run as soon as possible subsequent to the close of each month to determine these costs and a request for funds will occur as soon as possible thereafter. This funding technique is not interest neutral. Weekly Draws Prior Quarters Actual The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time that they are paid out for program purposes, deposited in a State account in accordance with the clearance pattern specified in Exhibit II (MMIS)II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in In Exhibit I. The amount of the request shall be for the amount of expenditures incurred in the prior quarter. A departmental report will be run as soon as possible subsequent to the close of each quarter to determine these costs and a request for funds will occur as soon as possible thereafter. This funding technique is not interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral. Estimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Monthly draws - Weekly National Guard The State shall request draw down funds on a weekly monthly basis. The request draws shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request requested shall be for the actual expenditures which occurred based on estimated costs to be incurred in the past weekly periodnext month. During grant close-out draw requests will be based on actual expenses incurred but not yet paid. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Estimated Clearance The State shall request funds such that they are deposited in a State account not more than three business days prior to in accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be disbursement, according to the amount the State expects to disburseState's clearance pattern specified in Exhibit II - EC. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There Funding Technique Name Description Capitalization Grants for State Revolving Funds The State shall request funds to minimize the time between the drawdown of funds from Treasury and their deposit into the revolving fund. The timing of the drawdown of Federal funds for deposit to the revolving fund is subject to the interest provisions of 31 CFR Part 205, however there is an interest exemption for the interest the State earns once the funds are currently no deposited into the revolving fund. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of the funds to be used for immediate program purposes. The State will not incur an interest liability for interest earned on revolving fund loans. This funding techniques listed in Section 6.2.3technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Allocation (Health & Welfare) The State shall request funds on such that they are deposited monthly by ACH after the cost allocation is run. This is the first day the cost is specifically identified to a weekly basisFederal grant from the prior month. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall equal the federally allowable indirect costs allocated for the prior month in accordance with the State Department of Health & Welfare's approved indirect cost agreement. This funding technique is interest neutral. Actual Allocation (Labor Agreement) The State shall request funds such that they are deposited bi-weekly by ACH on the average day of clearance for payroll. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall equal the indirect costs allocated for the bi-weekly period in accordance with the indirect cost agreement approved by the U.S. Department of Labor. This funding technique is interest neutral. Actual Allocation (Statewide Plan) The State shall request funds such that they are deposited by ACH monthly on the last average day of clearance for payroll during the month. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for 1/12 of the actual expenditures which occurred indirect costs allocation in accordance with the past weekly periodstatewide cost allocation plan. This funding technique is interest neutral. Average Clearance - Modified with Payroll The State shall request funds such that they are deposited by ACH on the dollar dollar- weighted average day of clearance for the disbursement disbursement, in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The II and Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarterClearance Pattern Methodology specified in Section 7.1. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Bi-Weekly Biweekly Actual - Payroll The State will request funds bi-weekly biweekly based on the actual expenditures incurred during the biweekly payroll cycleperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclebiweekly period. This The State will not apply a clearance pattern to this funding technique is and agrees that no federal interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request liability will result, providing that federal funds once a month, such that they are available and deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time cutoff times specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral. Estimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There Funding Technique Name Description Capitalization Grants for State Revolving Funds The State shall request funds to minimize the time between the drawdown of funds from Treasury and their deposit into the revolving fund. The timing of the drawdown of Federal funds for deposit to the revolving fund is subject to the interest provisions of 31 CFR Part 205, however there is an interest exemption for the interest the State earns once the funds are currently no deposited into the revolving fund. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of the funds to be used for immediate program purposes. The State will not incur an interest liability for interest earned on revolving fund loans. This funding techniques listed in Section 6.2.3technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Reimbursable Funding Based on Actual Drawdown Expenditures - Weekly Construction The State shall request Wyoming Military Department (State) and the National Guard Bureau (NGB), funded by Department of Defense (DOD) appropriations, have entered into a Master Construction Cooperative Agreement (MCCA) to establish the terms and conditions applicable to the contribution of NGB funds on for each specific construction projects authorized. These MCCAs are not a weekly basisgrant in the context of what is normally considered a Federal Grant for CMIA purposes. The DOD requirement for the preparation of a Standard Form (SF) 270, a certified statement itemizing the amount of funds expended during the preceding month and the corresponding accounting classification to be charged, makes this agreement unique as far as CMIA is concerned. All incremental construction payments are itemized and consolidated on one separate reimbursement request shall be made in accordance SF 270 for each project each month by the state fiscal office along with the appropriate Federal agency cut-off time specified in Exhibit I. actual expenditure documentation. Once the state fiscal office and the Cooperative Agreement Program Manager (CAPM) agree the reimbursement request is accurate, we submit each request monthly to the United States Property & Fiscal Officer (USPFO) for payment. The amount of USPFO reconciles their financial records and submits the payment request shall be for to the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance Defense Finance and Accounting System (DFAS) to comply with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified listed in Exhibit I. This funding technique is not interest neutral. Bi-Weekly Reimbursable Funding Based on Actual Expenditures - Payroll O&M The State will request funds bi-weekly based on Wyoming Military Department (State) and the actual expenditures incurred during National Guard Bureau (NGB), funded by Department of Defense (DOD) appropriations, have entered into a Master Cooperative Agreement (MCA) to establish the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is terms and conditions applicable to the component. If necessarycontribution of NGB funds and/or in-kind assistance; providing facilities for training of the State Army and Air National Guard and response to state emergencies; support programs for distance learning, adjustments will be made when actual grant costs are knownantiterrorism, approximately 30-50 days after the end of each quarterfirefighting, and security operations; and youth education programs. This funding technique MCA is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once not a quarter, such that they are deposited on grant in the 30th day context of the month following the end of the quarterwhat is normally considered a Federal Grant for CMIA purposes. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program DOD requirement for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll preparation of a Standard Form (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly awardSF) 270, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for a certified statement itemizing the amount of that disbursement in whole dollarsfunds expended during the preceding month and the corresponding accounting classification to be charged, makes this agreement unique as far as CMIA is concerned. This funding technique All purchases are itemized and consolidated on one separate reimbursement request SF 270 for each program each month by the state fiscal office along with the actual expenditure documentation. Once the state fiscal office and the Cooperative Agreement Program Manager (CAPM) agree the reimbursement request is interest neutral. Weekly Billing The State shall accurate, we submit each request funds weekly monthly to the United States Property & Fiscal Officer (USPFO) for the programpayment. The amount shall be for all eligible costs that have been recorded since USPFO reconciles their financial records and submits the last payment request for funds. The request shall be made in accordance to the Defense Finance and Accounting System (DFAS) to comply with the appropriate Federal agency cut-off time specified listed in Exhibit I. This funding technique is not interest neutral. Weekly Draws Reimbursable Funding Based on Actual Expenditures - Payroll The State shall request Wyoming Military Department (State) and the National Guard Bureau (NGB), funded by Department of Defense (DOD) appropriations, have entered into a Master Cooperative Agreement (MCA) to establish the terms and conditions applicable to the contribution of NGB funds once including personnel authorizations for each program. This MCA is not a weekgrant in the context of what is normally considered a Federal Grant for CMIA purposes. The Voucher Only DOD requirement for the preparation of a Standard Form (SF) 270, a certified statement itemizing the amount requested will of funds expended during the preceding month and the corresponding accounting classification to be based charged, makes this agreement unique as far as CMIA is concerned. All payroll expenditures are itemized and included with all other O&M program purchases on expenditures incurred one separate reimbursement request SF 270 for each program each month by the state fiscal office along with the actual expenditure documentation. Once the state fiscal office and recorded in the State of Maryland's Medicaid Management Information Cooperative Agreement Program Manager (CAPM) agree the reimbursement request is accurate, we submit each request monthly to the United States Property & Fiscal Officer (USPFO) for payment. The USPFO reconciles their financial records and submits the payment request to the Defense Finance and Accounting System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMISDFAS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds comply with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified listed in Exhibit I. This funding technique is not interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There Funding Technique Name Description Block Grants Where State Cannot Trace Disbursements The State shall request funds such that they are currently no deposited in a State account on the median day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for funds shall be the lesser of the annual award divided by 12, or the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding techniques listed in Section 6.2.3technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Actuals at Fixed Intervals The State shall will request funds at fixed intervals (daily, weekly, etc.) based on a weekly basisexpenditures incurred during the fixed interval period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the each request shall be for equal the total actual expenditures which occurred in posted during the past weekly period. This The State will not apply a clearance pattern to this funding technique is and agrees that no federal interest neutral. Average Clearance - Modified The State shall request liability will result, provided that federal funds such that they are available and deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time times specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycleprevious two-week period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly billing cycle. Since expenditures using this funding technique are incurred in both the payroll cycleand vendor bank accounts, the State will not apply a clearance pattern to this funding technique and agrees that no federal interest liability will result, provided that federal funds are available and deposited in accordance with the cut-off times specified in Exhibit I. This funding technique is interest neutral. Payment Schedule-Quarterly Estimates- Other Funds will be requested weekly for deposit on the median day of each week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the drawdown shall be based on quarterly estimates and shall be requested in equal weekly amounts throughout the quarter for deposit on the median day of each week. Estimates will be reconciled to actual costs approximately 45 days after the end of the quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Payment Schedule-Quarterly Estimates- Payroll Cycle Funds will be requested bi-weekly to coincide with the State's payroll cycle. The State request shall request funds once a month, such that they are deposited on be made in accordance with the day appropriate Federal agency cut-off time specified in Exhibit I. The amount of the drawdown shall be based on quarterly estimates and shall be requested in equal amounts each pay period during the quarter to coincide with the State's bi-weekly payroll cycle. Estimates will be reconciled to actual costs approximately 45 days after the end of the quarter. This funding technique is interest neutral. Prior Month's Actual Funds will be requested monthly for expenditures incurred in the prior month. Expenditures will be determined as soon as possible subsequent to the close of each month specified and a request for each componentfunds will occur as soon as possible thereafter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on for the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to expenditures incurred in the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterprior month. This funding technique is not interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on Weekly Billing Cycle Funds will be requested weekly for expenditures incurred during the 30th State's seven-day of the month following the end of the quarterbilling cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to sum of expenditures that have been posted during the program for the quarterState's billing cycle. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Post-Issuance The State shall request funds such that they are deposited by ACH on in a State account after the dollar- weighted average day of clearance for State issues checks, but before the disbursement, in accordance with the clearance pattern specified in Exhibit IIchecks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that the disbursement. This funding technique is not interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral. Indirect Cost Rates - Proportionate Shares The State shall include a proportionate share of the month, indirect cost allowance in each request for funds by applying the indirect cost rate to fund activity the appropriate cost base of the prior montheach drawdown. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed determined by applying the indirect cost rate to the appropriate cost base estimated in accordance with the State's approved cost allocation plandrawdowns. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Payment Schedule (Monthly Drawdown):(SU) The State shall request funds once a month for amounts that were disbursed in the prior month. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Payment Schedule: CFDA 10.555 National School Lunch Program Payments (EDN) (SU) The State shall request funds once a month from the United States Department of Agriculture (USDA) for other private schools, charter schools, and residential institutions. The request will be made within 25 business days after the State has submitted the Food Nutrition Services (FNS)-10 (30 day) report to USDA in accordance with the appropriate Exhibit I cut- off time. The funds request is based on a weekly basisthe FNS-10 (30 day) report -number of meals served and the reimbursement rate prescribed under 7 Code of Federal Regulations (CRF) 210. The State shall request additional funds within 25 business days after the State has submitted the FNS-10 (90 day) report to USDA for any claim adjustments to the FNS-10 (30 day) report. This funding technique is interest neutral. Semi-Monthly Billing: CFDA 20.205 Highway Planning and Construction (DOT) (SU) The State shall bill and request Highway Planning and Construction funds semi-monthly during the month immediately following the month vendors were paid and the month payroll was disbursed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of Since the State does not bill weekly, the Federal interest liability shall not accrue prior to the day the State submits a request shall be for funds. In addition, under this funding technique, the actual expenditures which occurred in State agrees to waive any claim to a federal interest liability and will not calculate the past weekly periodfederal interest liability. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Fixed Administrative Allowances - Bi-Weekly Payroll The State shall request funds such that one-sixth (or one-seventh) of the quarterly administrative allowance is deposited on the dollar-weighted average date of clearance for payroll payments, as specified in the appropriate clearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Indirect Cost Allocation Plans Rates - Monthly Estimated Base The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be determined by applying the indirect cost rate to the appropriate cost base estimated for a given the current month's activity . The estimate of direct costs shall be based on the actual direct costs distributed in accordance with of the State's approved cost allocation planprior month. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Pre-Issuance - Weekly Modified The State shall request Commonwealth receives Federal funds from the US Department of Housing and Urban Development (HUD) on a weekly basisthe first business day of each month. The payment of Federal funds is done automatically by US HUD and a request shall be made in accordance with for funds is not required of the appropriate Federal agency cut-off time specified in Exhibit I. Commonwealth. The Commonwealth subsequently makes disbursements to approved recipients. The amount of funds that are received each month is equal to 1/12th of the request shall be for the actual expenditures annual budget, which occurred in the past weekly periodis approved by US HUD. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Bi-weekly Estimated Allocation The State shall request funds at bi-weekly intervals, such that they are deposited in a State account on a weekly basisthe dollar- weighted average day of clearance for payroll payments, as specified in section 7.3. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for each bi- weekly period shall be an estimate based on the related cost allocation of the last three months for which an allocation has been performed. The bi-weekly requests shall also be adjusted for the difference between estimated and actual allocated expenditure amounts following the actual allocation. This funding technique is interest neutral. Composite Average Day of Clearance (ADOT) The Arizona Department of Transportation (ADOT) shall bill FHWA weekly for all major contractor and consultant payments, miscellaneous supplies and service payments, and payroll payments. The funds shall be requested such that they are deposited in a State account on the average day of clearance for the major contractor payment component which accounts for approximately 85% of all program dollars expended by ADOT. Per Federal Regulations, Federal interest may be calculated from the last day of the last billing if xxxxxxxx are weekly. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in amount of the past weekly periodFederal share of the disbursement per the specific Federal Project Agreement. This funding technique is interest neutral. Average Clearance - Modified Pre-Issuance Grant Anticipation Revenue Vehicle (GARVEE) Bond Repayment The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate Arizona Department of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State Transportation will request funds bi-weekly based for the repayment of GARVEE bonds issued. The Federal legislation that enables reimbursement of such costs is described in Title 23, United States Code, Section 122. Funds may be requested up to seven business days in advance of the bond payment. This early drawdown has been approved by the Federal Highway Administration (FHWA) and Fiscal Service. Funds will be requested for payments of principal and interest on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclebonds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) WIC Formula Rebates The State shall request funds once deposit the rebates in a month, such that they are State account and use them to offset the subsequent draw downs for food voucher redemptions until another draw down is necessary to meet redemption demands. Interest earned on rebate money deposited on the day of the month specified for each component. The request in State accounts shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request used for program purposes. No other liability shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterincurred using this funding technique. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Payment Schedule - Weekly The State shall request funds such that they are deposited by ACH in a State account on the dollar- weighted average median business day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit IIweek. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for a prorated share of the exact lesser of (1) the annual grant divided by 52, or (2) the total amount of that disbursementFederal funds expected to be paid out for program purposes during the year divided by 52. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of the month, to fund activity clearance of the prior monthpayroll. The request shall be made in accordance with the appropriate Federal agency cut-cut- off time specified in Exhibit I. The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation planlast request for funds. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made There are no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.Section 6.2.4
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly Quarterly The State shall request funds once a monthfor each fiscal quarter, such that they are deposited on the median day of the month, to fund activity of the prior monthquarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on the actual allocation of costs distributed in accordance with the State's approved cost allocation planfor that quarter. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Costs-Modified Clearance The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State District shall request funds once a month, month such that they funds are deposited on or about the day 25th of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quartermonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to expenditures incurred that are available for drawdown and have cleared the program for the quarterDistrict's account. This funding technique is interest neutral. Fixed Administrative AllowancesBi-BI- Weekly Payroll (modified)-Dollar Weighted Actual The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State District shall request 1/6 or 1/7 of the quarterly award, funds bi-weekly based on the number of pay periods within actual expenditures made during the quarterprevious two week period. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State amount of each request shall draw down 1/12 of equal the total annual expected expenditures (based on actual expenditures of posted during the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30District's bi-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's endweekly billing cycle. This funding technique is interest neutral. Post Expenditure Funding Direct Costs The State shall request Federal funds only after related cash expenditures have been warranted for payment recorded in the State’ s Accounting SystemDistrict Integrated Financial System (DIFS). The request shall be made in accordance with Because the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursementprocess is a manual one, and as long as the State receives the Federal funds no later than we expect reimbursement from FHWA two business days after warrantedwire requests are made. In the event of a treasury offset, neither the State nor the Federal Government shall incur which results in an interest liabilityACH transfer, this may delay receipt of federal funds by up to an additional two business days. The amount of the request shall be for the amount actual sum of cash expenditures that disbursement in whole dollarshave been incurred, recorded, identified, and reconciled as billable from the preceding week. This funding technique is interest neutral. Weekly Billing Modified Average Clearance - Non- Personnel Services The State District shall request funds a bi-weekly draw for deposit on the dollar-weighted average day of clearance for the programdisbursement, in accordance with the clearance pattern in Exhibit II. The amount shall Any required adjustments will be made with the first draw down of the following quarter. Child and Family Services Agency will request quarterly draw for all eligible costs that have been recorded since deposit based on CB-496 Financial claiming reports submitted to the last request Department of Health and Human Services, Administration for fundsChildren and Families. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Non Personal Service expenditures will be based on the average expenditure cost of the previous quarter. This funding technique is interest neutral. Weekly Draws Modified Average Clearance - Payroll The State District shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based bi-weekly draw for deposit on the amount calculated as due by dollar-weighted average day of clearance for the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposesdisbursement, in accordance with the clearance pattern specified in Exhibit II (MMIS)II. Payroll will be based on the average payroll cost of the previous quarter. Any required adjustments will be made with the first draw down of the following quarter. Child and Family Services Agency will request quarterly draw for deposit based on quarterly CB-496 Financial claiming reports submitted to the Department of Health and Human Services, Administration for Children and Families. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the funds request is determined by the agency. This funding technique is interest neutral. OSSE Billable Costs The State shall request funds only after related cash expenditures have been recorded in the District Integrated Financial System (DIFS). The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the actual sum of cash expenditures that have been incurred, recorded, identified, and reconciled as billable from the preceding week. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Estimated Clearance The State shall request funds such that they are deposited in a State account not more than three business days prior to in accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be disbursement, according to the amount the State expects to disburseState's clearance pattern specified in Exhibit II - EC. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Allocation (Health & Welfare) The State shall request funds on such that they are deposited monthly by ACH after the cost allocation is run. This is the first day the cost is specifically identified to a weekly basisFederal grant from the prior month. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall equal the federally allowable indirect costs allocated for the prior month in accordance with the State Department of Health & Welfare's approved indirect cost agreement. This funding technique is interest neutral. Actual Allocation (Labor Agreement) The State shall request funds such that they are deposited bi-weekly by ACH on the average day of clearance for payroll. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall equal the indirect costs allocated for the bi-weekly period in accordance with the indirect cost agreement approved by the U.S. Department of Labor. This funding technique is interest neutral. Actual Allocation (Statewide Plan) The State shall request funds such that they are deposited by ACH monthly on the last average day of clearance for payroll during the month. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for 1/12 of the actual expenditures which occurred indirect cost allocation in accordance with the past weekly periodstatewide cost allocation plan. This funding technique is interest neutral. Average Clearance - Modified with Payroll The State shall request funds such that they are deposited by ACH on the dollar dollar- weighted average day of clearance for the disbursement disbursement, in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The II and Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarterClearance Pattern Methodology specified in Section 7.1. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Bi-Weekly Biweekly Actual - Payroll The State will request funds bi-weekly biweekly based on the actual expenditures incurred during the biweekly payroll cycleperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclebiweekly period. This The State will not apply a clearance pattern to this funding technique is and agrees that no federal interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request liability will result, providing those federal funds once a month, such that they are available and deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time cutoff times specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. PreComposite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the sum of the payments issued in the series of disbursements. This funding technique is interest neutral. Estimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Post-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day after the State makes a disbursementissues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of the State expects to disbursedisbursement. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Estimated Allocation - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund the costs incurred during that month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be an estimate based on the actual allocation of costs to the program for the preceding six months. This funding technique is interest neutral. Cost Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral. Direct Administrative Costs - Drawdowns on a Payroll Cycle The State shall request funds for all direct administrative costs such that they are deposited on the dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Clearance, ZBA-ACH (Modified) The State shall request funds on such that they are deposited by ACH in a weekly basisState account the following day. The request shall be made in accordance with the appropriate Federal agency cut-off time times specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability1. The amount of the request shall be for the amount of funds that disbursement in whole dollarsclear the State's account the previous day. This funding technique is interest neutral. Weekly Billing The Estimated Clearance (Truncated) For the first ten (10) business days, the State shall request funds weekly for the program. The amount shall be for all eligible costs such that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, deposited in accordance with the clearance pattern specified in Exhibit II (MMIS)specified. After ten business days, the State shall request the remaining balance of the clearance pattern. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Allocation The State shall request funds funds, such that they are deposited on a weekly basisthe first business day after the cost allocation system records the expenditures in the statewide accounting system. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be for based on actual costs distributed in accordance with the actual expenditures which occurred in the past weekly periodState's approved cost allocation plan. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on Automatic Payment Distribution Revenue from Public or Flood Control land leasing will trigger automatic payment distribution, from the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIFederal Government. The Payroll clearance pattern will be applied to an estimate of payment distributions are determined by the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycleGovernment. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 2 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation - Actual Drawdown - Weekly Biweekly Actual Allocation, Biweekly: The State shall request funds every two weeks, such that they are deposited during the first and third weeks of the month, to fund activity of the prior two weeks. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given two week's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral. Cost Allocation - Actual - Quarterly Actual Allocation, Quarterly: The State shall request funds every quarter, such that they are deposited 45 days after the end of the quarter, to fund activity of the prior quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given quarter's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral. Cost Allocation - Daily - Variation #2 Daily Allocation, Variation 2: The State shall request funds daily to fund costs incurred. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The funds drawn will be disbursed using Actual Clearance, ZBA - ACH, Wire. This funding technique is interest neutral. Cost Allocation - Weekly - Variation #1 Weekly Allocation, Variation 1: The State shall request funds weekly basisto fund costs incurred. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual Federal administrative costs incurred, based on expenditures which occurred in of the past weekly periodprior week. The percentage of administrative costs for each week are attributable to each grant. Actual Clearance (0 Days). This funding technique is interest neutral. Average Clearance Payment Schedule - Modified Monthly - Variation #1 The State shall request funds such that they are deposited by ACH in a State account on the dollar weighted average day of clearance for (A) to fund the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each componentperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be (B) and adjusted to actual on a (C) basis. A - 15th (or closest working day prior to the 15th) B - an estimate based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable allocation of costs to the component. If necessaryprogram for the preceding six months, adjustments will be made when actual or one-third the quarterly grant costs are known, approximately 30-50 days after the end of each quarteraward C - quarterly. This funding technique is interest neutral. Drawdowns at Fixed Intervals Payment Schedule - Quarterly Weekly - Variation #4 The State shall request funds once a quarter, such that they are deposited in a State account on the 30th day of (A) to fund the month following the end of the quartercosts incurred during that period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based (B) and adjusted to actual on the actual costs allocated to the program a (C) basis. A - a weekly basis such that they are deposited midweek B - an estimate for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days week C - to reflect actual expenditures of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarterprior week. This funding technique is interest neutral. Payment Schedule - Weekly - Variation #7 The State shall request funds such that they are deposited in a State account on the (A) to fund the costs incurred during that period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars(B) and adjusted to actual on a (C) basis. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible A - midweek B - prior week's costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, C - not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. applicable This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (ZBA)--ACH (modified) The This program is handled as a zero balance account program between the State shall request funds once a monthand its WIC voucher processing bank, such that they are deposited on but not between the day of State and the month specified for each component. The request shall be made in accordance with Federal Government, due to the appropriate State not being able to meet Federal agency Reserve cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.off
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Bi-weekly The State shall request will draw down funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for biweekly basis based on the actual expenditures which occurred in the past weekly biweekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Actual Drawdown - Weekly Actual - Payroll The State will request draw down funds bi-on a weekly basis based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment which occurred in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds past weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Daily Estimated Draw The State will use historical data to determine an estimate for the daily average debit card payments and will draw funds the day the unemployment payment batch file is sent to the bank. This is the same day that the debit card amount is debited from the bank account. The estimate will be reconciled on a daily basis and any shortfall will be added to the next estimated federal draw. Any overage will be subtracted from the next estimated federal draw. This funding technique is interest neutral. This funding technique is interest neutral. Daily Estimated Draw ZBA - ACH The State will use historical data to determine an estimate for the daily average debit card payments and will request and receive funds via Fedwire on the same day the unemployment payment batch file is sent to the bank. This is the same day that the debit card amount is debited from the bank account. The estimate will be reconciled on a daily basis and any shortfall will be added to the next estimated federal draw. Any overage will be subtracted from the next estimated federal draw. This funding technique is interest neutral. This funding technique is interest neutral. This funding technique is interest neutral. Weekly Draws The Drawdown - Actual & Estimate State shall request funds once such that they are deposited in a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based account on the amount calculated as due by median business day of the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)week. The request shall be made in accordance with the appropriate Federal agency Agency cut-off time specified in Exhibit I. The amount requested shall be comprised of two portions. Portion 1 - will include the actual expenditures made during the previous two business days, Portion 2 - will include an estimate of the expenditures to be made in the next three business days. Each week, the current cash balance will be taken into consideration through revenue and expense analysis. Any cash imbalances will be corrected in the current week's drawdown. In the event the Payment Management System (PMS) will not allow funds to be returned on the draw date, they can be returned in the days following the draw date. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Fixed Administrative Allowances - Bi- Weekly Payroll The State shall request funds such that one-sixth (or one-seventh) of the quarterly administrative allowance is deposited on the dollar-weighted average date of clearance for payroll payments, as specified in the appropriate clearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Indirect Cost Allocation Plans Rates - Monthly Estimated Base The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be determined by applying the indirect cost rate to the appropriate cost base estimated for a given the current month's activity . The estimate of direct costs shall be based on the actual direct costs distributed in accordance with of the State's approved cost allocation planprior month. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Pre-Issuance - Weekly Modified The State shall request Commonwealth receives Federal funds from the US Department of Housing and Urban Development (HUD) on a weekly basisthe first business day of each month. The payment of Federal funds is done automatically by US HUD and a request shall be made in accordance with for funds is not required of the appropriate Federal agency cut-off time specified in Exhibit I. Commonwealth. The Commonwealth subsequently makes disbursements to approved recipients. The amount of funds that are received each month is equal to 1/12th of the request shall be for the actual expenditures annual budget, which occurred in the past weekly periodis approved by US HUD. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the sum of the payments issued in the series of disbursements. This funding technique is interest neutral. Estimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Payment Schedule - Bi-Weekly The State shall request funds such that they are deposited in a State account on the median business day of the bi-weekly period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 26, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 26. This funding technique is interest neutral. Payment Schedule - Monthly The State shall request funds such that they are deposited in a State account on the median business day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 12, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding technique is interest neutral. Payment Schedule - Quarterly The State shall request funds such that they are deposited in a State account on the median business day of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of (1) the lesser of the annual grant divided by 4, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 4. This funding technique is interest neutral. Payment Schedule - Semi-Annually The State shall request funds such that they are deposited in a State account on the median business day of the semi-annual period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of (1) the lesser of the annual grant divided by 2, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 2. This funding technique is interest neutral. Payment Schedule - Weekly The State shall request funds such that they are deposited in a State account on the median business day of the week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 52, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 52. This funding technique is interest neutral. Post-Issuance The State shall request funds such that they are deposited in a State account after the State issues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of the disbursement. This funding technique is not interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral. SCAAP Compensation The Federal government provides annual compensation to the state for some of the costs associated with incarcerating undocumented Criminal aliens. The request shall be made in accordance with the appropriate Federal Agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Monthly Draws-Prior Month Activity The State shall request funds once a month, such that they are deposited on a weekly basisthe median day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request for a given month's activity shall be for the actual expenditures which occurred in the past weekly perioddirect costs. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30Monthly Draws-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly Prior Month Activity (modifiedindirect costs) The State shall request funds once a month, such that they are deposited on the median day of the month specified for each componentmonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request for a given month's activity shall be based on the most recent monthly expenditure data available based allocation of indirect costs. These costs shall be reconciled on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quartera quarterly basis. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Non Central Draw Indirect Cost Rate- Monthly The State shall request funds once a quartermonth, such that they are deposited on the 30th median day of the month following the end of the quartermonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request shall be based on calculated by applying the actual costs allocated indirect cost rate to the program for appropriate cost base of the quarterprior month. This funding technique is interest neutral. Fixed Administrative AllowancesSemi-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end Monthly First and third week of each quartermonth. The State shall request 1/6 or 1/7 of the quarterly award, Funds are drawn twice per month (1st and 16th) and are based on expenditures already recorded and processed by the number of pay periods within the quarterState. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Estimated Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in a State account in accordance with the clearance pattern specified in Exhibit IIII - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be for disbursement, according to the exact amount of that disbursementState's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. PrePost-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day after the State makes a disbursementissues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of the State expects to disbursedisbursement. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Description
1. Employee Fringe Benefits - Weekly The the State shall request funds on a weekly basisbiweekly. The request Requests shall be made in accordance with the appropriate Federal agency cut-off Agency cutoff time specified in Exhibit I. The amount of the request shall be for shall be determined by applying the fringe rate developed pursuant to the terms of Federal grant programs to the actual expenditures which occurred biweekly payroll. As described in the past weekly period. This Section 8.8 of this Agreement, this funding technique is interest neutral.
2. Average Clearance Indirect Costs - Modified The the State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIbiweekly. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request Requests shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off Agency cutoff time specified in Exhibit I. The amount of the request shall be based on shall be determined by applying the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable indirect rate developed pursuant to program-specific indirect cost recovery plans that are approved by the Federal agency responsible for program oversight to the componentactual biweekly payroll. If necessaryAs described in Section 8.8 of this Agreement, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterthis funding technique is interest neutral. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Payment Schedule - Weekly The State shall request funds such that they are deposited in a State account on a weekly basisthe median business day of the week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate a prorated share of the actual payroll cost based on lesser of (1) the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a monthannual grant divided by 52, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.or
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Post-Issuance The State shall request funds such that they are deposited by ACH on in a State account after the dollar- weighted average day of clearance for State issues checks, but before the disbursement, in accordance with the clearance pattern specified in Exhibit IIchecks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that the disbursement. This funding technique is not interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral. Indirect Cost Rates - Proportionate Shares The State shall include a proportionate share of the month, indirect cost allowance in each request for funds by applying the indirect cost rate to fund activity the appropriate cost base of the prior montheach drawdown. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed determined by applying the indirect cost rate to the appropriate cost base estimated in accordance with the State's approved cost allocation plandrawdowns. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Clearance – Modified This funding technique is used only for the emergency and recovery efforts for Hawai‘i Counties’ Brushfire disaster of 2023. After projects are approved by FEMA, invoices are sent to the Department of Defense for approval. The State shall request funds on after the Department of Defense fiscal office receives the project invoices, such that they are deposited by ACH in a weekly basisState account within two days. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred amount specified in the past weekly periodproject invoices. This funding technique is interest neutral. This funding technique is interest neutral. Average Clearance - Modified Clearance: CFDA 20.106 Airport Improvement Program (DOT) (SU) The State shall request funds such that they are deposited by ACH on the dollar dollar- weighted average day of clearance for the disbursement disbursement, in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. In accordance with Title 49 United State Code, Section 47111, payment request over 90% of the grant will require FAA manual approval. Payment will be released after all financial close out documentation has been provided and approved. The Payroll request shall be made in accordance with the appropriated Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of funds that clear the State's account that day. In addition, under this funding technique, the State agrees to waive any claim to a federal interest liability and will not calculate the federal interest liability. This funding technique is interest neutral. This funding technique is interest neutral. Payment Schedule (Monthly Drawdown) (SU) The State shall request funds once a month for amounts that were disbursed in the prior month. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Payment Schedule (Weekly Drawdown) (SU) The State shall request funds once a week for amounts that were disbursed in the prior week. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Payment Schedule – Variation: CFDA 84.041 Impact Aid Program (EDN) (SU) The Federal Government shall make periodic payments to the State in accordance with 34 CRF Part 219 and 34 CRF Part 222. The State Department of Education is solely responsible for education and public instruction throughout the State, including education at the pre-school, primary, and secondary levels. The U.S. Secretary of Education determines when the State is to receive funds and in what amount. The State does not drawdown the funds. Neither the Federal Government nor the State shall incur an interest liability under this technique. This funding technique is interest neutral. Payment Schedule: CFDA 10.555 National School Lunch Payments (EDN) (SU) The State Shall request funds once a month from the United States Department of Agriculture (USDA) for other private schools, charter schools, and residential institutions. The request will be applied made within 25 business days after the State has submitted the Food Nutrition Services (FNS) – 10 (30 day) report to an estimate of USDA in accordance with the actual payroll cost appropriate Exhibit I cut-off time. The funds request is based on the most recent cost allocation distributionFNS – 10 (30 day) report – number of meals served, and the reimbursement rate prescribed under 7 Code of Federal Regulations (CFR) 210. This estimate will be reconciled to actual costs approximately 30-50 The State shall request additional funds within 25 business days after the end Stats has submitted the FNS -10 (90 day) report to USDA for any claim adjustments to the FNS -10 (30 day) report. This funding technique is interest neutral. Same Day or Weekly Drawdown: CFDA 84.268 (UH) (SU) The State shall request funds immediately following the distribution of aid or crediting of a loan to a student recipient. The federal agency will deposit funds into a state account in accordance with the schedule outlined in Exhibit 1. The amount requested shall be the amount of the quarterfederally approved aid or loan proceeds credited over the previous award period This funding technique is interest neutral. Semi-Monthly Billing: CFDA 20.205 (DOT-HWY) (SU) The State shall bill and request Highway Planning and Construction funds semi- monthly during the month immediately following the month after labor and non-labor expenses are incurred and paid using local, non-federal funds by the State or a subrecipient. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This Since the State does not bill weekly, the Federal interest liability shall not accrue prior to the day the State submits a request for funds. In addition, under this funding technique is technique, the State agrees to waive any claim to a federal interest neutral. Bi-Weekly Actual - Payroll The State liability and will request funds bi-weekly based on not calculate the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclefederal interest liability. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The Clearance (ZBA)--ACH (modified) This program is handled as a zero balance account program between the State shall request funds on a weekly basis. The request shall be made in accordance with and its WIC voucher processing bank, but not between the appropriate State and the Federal agency Government, due to the State not being able to meet Federal Reserve cut-off time specified in Exhibit I. The amount of the request times. These techniques shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30defined as a modified zero-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I balance method and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsliability if these procedures are followed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified times in Exhibit I. The banking system clears the WIC vouchers through the Federal Reserve Bank clearing house and debits the processing bank for the total amount of the vouchers. The voucher processor emails the amount of today's clearings less the previous day's rejects to the State Department of Health and Human Services (DHHS). After receiving notification from DHHS and approval from the State Division of Finance, the State Treasurer's office then wires the exact amount to the processing bank, thus maintaining a zero balance for the day at the processing bank. While this is happening, DHHS requests a reimbursement draw from the U.S. Department of Agriculture via the ASAP system to reimburse the State Treasurer. Money is received by ACH on the next business day. This funding technique is interest neutral. Weekly Draws Actual Draw - Monthly The State shall request draw down funds once a weekmonthly after month-end accounting reports are verified of the previous month's actual expenditures. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request Requests shall be made in accordance with the appropriate Federal agency cut-off time specified time(s) in Exhibit I. 1. Amount(s) drawn will be the accumulation of costs since the last draw. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Monthly Draws The State shall request funds on draw down once a weekly basis. The request shall be made in accordance with month, approximately mid-month by applying the indirect cost rate to the appropriate Federal agency cut-off time specified in Exhibit I. The amount direct costs of the request shall be for the actual expenditures which occurred in the past weekly periodprior month. This funding technique is interest neutral. Average Clearance - Modified The State draw shall request funds such that they are deposited by ACH on cover indirect costs incurred during the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarterprior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. BiN/A - TANF Recoveries Funds are not requested. Cut-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made off times in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The I do not apply as funds are not requested. No amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclefunds are requested. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request Non-Cash No funds once are requested as this is a month, such that they are deposited on the day of the month specified for each componentnon-cash funding technique. The request shall be made in accordance with the appropriate Federal agency cutCut-off time specified in Exhibit I. The amount of the I does not apply as this is a non-cash funding technique. There is no fund request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever as this is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30a non-50 days after the end of each quartercash funding technique. This funding technique is interest neutral. Drawdowns at Fixed Intervals Pre-Issuance Funding Technique as it applies to the Texas Department of Transportation - Quarterly The State First Week Around the first week of each month, the Texas Department of Transportation shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsaccrued expenditures submitted by highway contractors. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they There are deposited by ACH currently no funding techniques listed in a State account on the settlement date of payments issued by the StateSection 6.2.1. The request shall be made in accordance with the appropriate Federal agency cutDocusign Envelope ID: AF01C367-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cutB24A-482D-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cutA91C-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.CA341D43F582
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Clearance, ZBA - Weekly Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. This funding technique is interest neutral. Automated Central Draw Indirect Cost Rates - Monthly The State shall request funds once a month, such that they are deposited on a weekly basisthe median day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. 1. The amount of the request shall be for the actual expenditures which occurred calculated in the past weekly periodCommonwealths financial system (MMARS) by applying the indirect cost rate to the appropriate cost base of the prior month. This funding technique is interest neutral. Average Clearance Bi-Weekly Draw - Modified Approved Expenditures The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in a State account in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the actual sum of expenditures that have been incurred, recorded, identified and reconciled as billable since the last two-week draw cycle request was processed. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. The amount of the request shall be the actual sum of expenditures that have been incurred, recorded, identified and reconciled as billable since the last two-week draw cycle request was processed. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. Bi-Weekly Actual - Payroll Reimbursable Funding The State will shall request funds bi-weekly based on such that they are deposited in a State account in accordance with the actual expenditures incurred during the biweekly payroll cycleclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each the request shall equal be the total actual sum of expenditures posted during that have been incurred, recorded, identified and reconciled as billable since the State's bilast two-weekly payroll cycleweek draw cycle request was processed. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals Cost Allocation Plan - Monthly (modified) Quarterly The State shall request funds once a month, such that they are deposited on in a State account in accordance with the day of the month clearance pattern specified for each componentin Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The state shall request funds once a per quarter, the amount of the request shall be based on actual costs distributed in accordance with the most recent monthly expenditure data available State's approved cost allocation plan. The amount of the funds requested for the draw shall be based on either the actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end amount of each quarterexpenditures recorded. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Cost Allocation Plan Monthly The State shall request funds once a quarter, such that they are deposited on in a State account in accordance with the 30th day of the month following the end of the quarterclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The state shall request funds once a month, the amount of the request shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. The amount of the funds requested for the draw shall be based on the actual costs allocated to the program for the quarteramount of expenditures recorded. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing Daily Draw - EBT The State shall request funds weekly for such that they are deposited in a State account in accordance with the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The Commonwealth will request the draw down of funds daily for Electronic Benefit Transfers costs. The draw down of funds shall be the same day EBT expenditures are reflected on the Luminist report # DTAEB040. Funds will always be drawn on the same day that the report is available. The Commonwealth will draw down a fixed percentage of TANF funds on a daily basis. This fixed percentage rate will be based on the lowest claiming quarter for TANF/MOE during the prior calendar year. The fixed percentage rate will also be updated annually This funding technique is interest neutral. Weekly Draws Daily Reimbursable Funding The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time that they are paid out for program purposes, deposited in a State account in accordance with the clearance pattern specified in Exhibit II (MMIS)II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the actual sum of expenditures that have been incurred, recorded, identified and reconciled as billable since the last daily draw request was processed. The draw down of funds shall occur two business days after the actual expenditure has been disbursed and is reflected in a standard query of the Commonwealths General Ledger. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. FHWA Weekly Actual Reimbursement The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off specified in Exhibit I. The amount of the request shall be the actual sum of expenditures that have been incurred, recorded, identified and reconciled as billable from the preceding Tuesday, Wednesday, Thursday, Friday and Monday. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. HUD Payment Schedule HUD (Housing and Urban Development) pays a calculated amount on the 2nd or 3rd business day of each month. An annual budget submitted by the state is approved by HUD at the beginning of each calendar year. The amount of the monthly allocation is documented in the annual budget approved by HUD. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Estimated Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in a State account in accordance with the clearance pattern specified in Exhibit IIII - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be for disbursement, according to the exact amount of that disbursementState's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Costs - Weekly Department of Human Services The State shall request funds for all Direct and Indirect payments on a weekly daily basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent amount of liabilities recorded since the last request for funds. The amount of Indirect Costs to be requested per program shall be determined based on prior quarter cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarterpercentages by fund. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual Costs - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Direct Administrative The State shall request funds once for all Direct Administrative costs on a month, such that they are deposited on the day of the month specified for each componentdaily basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual liabilities recorded for direct administrative costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws Actual Costs - EFT - Department of Human Services (CFDA 93.778) The State shall request funds for all Medicaid Direct paid via EFT once a per week. The Voucher Only request for funds shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount requested will be based on expenditures incurred and recorded in of the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will request shall be based on the amount calculated as due by the Program, of liabilities recorded since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This funding technique is considered interest neutral. Average Clearance - Highway (CFDA 20.205) The Arkansas State Highway and Transportation Department has a Direct Deposit system for payment of Construction Contractor payments. This system is available to contractors on a voluntary basis (approximately 90% are currently utilizing the system). Clearance patterns will be interest neutral andrevised as needed when the Direct Deposit of contractor payments affect the average clearance. Request of Federal funds by electronic wire transfer are made weekly, based on the information availableweekly expenditures, matches as closely as possible the draw of Federal funds and correspond with the time they are paid out established clearance patterns. The request for program purposes, funds shall be made in accordance with the clearance pattern appropriate Federal agency cut-off time specified in Exhibit II 1. This funding technique is interest neutral. EBT Debit Cards (MMISCFDA 93.558) The monthly recurring payments for the TANF program are authorized on the 1st of each month. Draw requests will be made such that Federal reimbursements are received by the State based on the daily and monthly reports produced by the Arkansas Client Eligibility System (ACES). The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Weekly draw requests will be submitted to fund benefits for new clients based on the daily reports out of the Electronic Payment Processing and Information Control System (EPPIC). This funding technique is interest neutral. Monthly Billing - Highway (CFDA 20.205) The State will request funds from the U.S. Department of Transportation for monthly payroll and administrative costs on the second billing subsequent to the close of the month in which State issued payment. The billing will be submitted on the normal weekly billing with the Vendor/Contractor costs. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Post-Issuance The State shall request funds such that they are deposited by ACH on in a State account after the dollar- weighted average day of clearance for State issues checks, but before the disbursement, in accordance with the clearance pattern specified in Exhibit IIchecks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that the disbursement. This funding technique is not interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral. Indirect Cost Rates - Proportionate Shares The State shall include a proportionate share of the month, indirect cost allowance in each request for funds by applying the indirect cost rate to fund activity the appropriate cost base of the prior montheach drawdown. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed determined by applying the indirect cost rate to the appropriate cost base estimated in accordance with the State's approved cost allocation plandrawdowns. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Average Clearance: CFDA 20.106 Airport Improvement Program (DOT) (SU) The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. In accordance with Title 49 United State Code, Section 47111, payment request over 90% of the grant will require FAA manual approval. Payment will be released after all financial close out documentation has been provided and approved. The request shall be made in accordance with the appropriated Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of funds that clear the State's account that day. In addition, under this funding technique, the State agrees to waive any claim to a weekly basisfederal interest liability and will not calculate the federal interest liability. This funding technique is interest neutral. This funding technique is interest neutral. Payment Schedule (Monthly Drawdown) (SU) The State shall request funds once a month for amounts that were disbursed in the prior month. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Payment Schedule (Weekly Drawdown) (SU) The State shall request funds once a week for amounts that were disbursed in the prior week. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Payment Schedule – Variation: CFDA 84.041 Impact Aid Program (EDN) (SU) The Federal Government shall make periodic payments to the State in accordance with 34 CRF Part 219 and 34 CRF Part 222. The State Department of Education is solely responsible for education and public instruction throughout the State, including education at the pre-school, primary, and secondary levels. The U.S. Secretary of Education determines when the State is to receive funds and in what amount. The State does not drawdown the funds. Neither the Federal Government nor the State shall incur an interest liability under this technique. This funding technique is interest neutral. Payment Schedule: CFDA 10.555 National School Lunch Payments (EDN) (SU) The State Shall request funds once a month from the United States Department of Agriculture (USDA) for other private schools, charter schools, and residential institutions. The request will be made within 25 business days after the State has submitted the Food Nutrition Services (FNS) – 10 (30 day) report to USDA in accordance with the appropriate Exhibit I cut-off time. The funds request is based on the FNS – 10 (30 day) report – number of meals served, and the reimbursement rate prescribed under 7 Code of Federal Regulations (CFR) 210. The State shall request additional funds within 25 business days after the Stats has submitted the FNS -10 (90 day) report to USDA for any claim adjustments to the FNS -10 (30 day) report. This funding technique is interest neutral. Same Day or Weekly Drawdown: CFDA 84.268 (UH) (SU) The State shall request funds immediately following the distribution of aid or crediting of a loan to a student recipient. The federal agency will deposit funds into a state account in accordance with the schedule outlined in Exhibit 1. The amount requested shall be the amount of the federally approved aid or loan proceeds credited over the previous award period This funding technique is interest neutral. Semi-Monthly Billing: CFDA 20.205 (DOT-HWY) (SU) The State shall bill and request Highway Planning and Construction funds semi- monthly during the month immediately following the month after labor and non-labor expenses are incurred and paid using local, non-federal funds by the State or a subrecipient. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of Since the State does not bill weekly, the Federal interest liability shall not accrue prior to the day the State submits a request shall be for funds. In addition, under this funding technique, the actual expenditures which occurred in State agrees to waive any claim to a federal interest liability and will not calculate the past weekly periodfederal interest liability. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Payment Schedule - Monthly The State shall request funds such that they are deposited by ACH in a State account on the dollar- weighted average median business day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit IImonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for a prorated share of the exact lesser of (1) the annual grant divided by 12, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding technique is interest neutral. Post-Issuance The State shall request funds such that they are deposited in a State account after the State issues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of the disbursement. This funding technique is not interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral. Indirect Cost Rates - Proportionate Shares The State shall include a proportionate share of the month, indirect cost allowance in each request for funds by applying the indirect cost rate to fund activity the appropriate cost base of the prior montheach drawdown. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed determined by applying the indirect cost rate to the appropriate cost base estimated in accordance with the State's approved cost allocation plandrawdowns. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Composite Clearance - Weekly Modified The composite average clearance day shall be calculated by combining the average clearance days for each cash flow component within the program. The State shall request funds on a weekly basismultiply the average clearance days for each cash flow component by the percentage of the total program costs represented by each cash flow component to yield the composite average clearance day. Cash flow components include: Child Care Payments - Check, Home Energy Assistance Payments, Accounts Payable - Checks, Accounts Payable - ACH, Provider Payments Fiscal Agent DXC, Provider Payments Fiscal Agent - WPS, WIC Food Costs, and Allocated Costs. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in exact amount of the past weekly perioddisbursement. This funding technique is interest neutral. Average Composite Clearance - Modified for Highway Planning and Construction CFDA #20.205 Construction, Payroll and Allocated Costs. The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the dollar weighted average number of days required for funds to be paid out for a series of construction and payroll disbursements (i.e. the composite average clearance day of the month specified for each componentsee description below). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either sum of the payments issued in the series of disbursements. The composite average clearance day shall be calculated by combining the average clearance days for the construction and payroll cash flow components within the Highway Planning and Construction Program. The State shall determine the average clearance day for construction costs by analyzing the actual or estimated costsconstruction costs billed to highway projects during state fiscal year 2015 and applying the average clearance pattern listed in Exhibit II of this Agreement. The State books payroll costs to highway projects weekly but payroll checks are disbursed biweekly. Payroll costs for the first week of the pay period are booked to highway projects the following first business week, whichever is applicable included in the federal bill the second business week and are disbursed through a B Series payroll check during the third business week. Payroll costs for the second week of the pay period are booked to highway projects the following first business week, included in the federal bill the second business are also disbursed through a B Series payroll the second business week. Since each has a different clearance day, the State shall determine the average clearance day for the first and second week of the pay period by analyzing the actual payroll costs booked to highway projects during state fiscal year 2015 and calculating an average clearance pattern separately for the first and second week relative to the componenthighway project book week. If necessary, adjustments will be made when actual grant The State shall then combine the construction cost average clearance day with the payroll cost average clearance days to determine a composite average clearance day for the Highway Planning and Construction Program. The State shall multiply the average clearance days for each cash flow component by the percentage of total program costs are known, approximately 30-50 days after represented by each cash flow component to yield the end of each quartercomposite average clearance day for the Highway Planning and Construction Program. The State shall not use allocated costs in determining the composite average clearance day. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Indirect Cost Allocation Plans Rates - Monthly Proportionate Shares The State shall request funds once include a month, such that they are deposited on the median day proportionate share of the month, indirect cost allowance in each request for funds by applying the indirect cost rate to fund activity the appropriate cost base of the prior montheach drawdown. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed determined by applying the indirect cost rate to the appropriate cost base estimated in accordance with the State's approved cost allocation plandrawdowns. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Monthly Draws The State shall request funds on draw down once a weekly basis. The request shall be made in accordance with month, approximately mid-month by applying the indirect cost rate to the appropriate Federal agency cut-off time specified in Exhibit I. The amount direct costs of the request shall be for the actual expenditures which occurred in the past weekly periodprior month. This funding technique is interest neutral. Average Clearance - Modified The State draw shall request funds such that they are deposited by ACH on cover indirect costs incurred during the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarterprior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. BiNon-Weekly Actual Cash No funds are requested as this is a non-cash funding technique, as funding consists of commodities, food items, which are served in the National School Lunch Program by public, charter and private schools and Residential Child Care Institutions (RCCIs). United States Department of Agriculture (USDA) allocates Texas Department of Agriculture (TDA) a dollar value of food and TDA makes food items available through TDA's automated system. The commodities are administered by TDA and are delivered by USDA directly to a TDA contracted warehouse for schools to draw down or to public, charter, and private schools and RCCIs. Cut-off time specified in Exhibit I does not apply as this is a non-cash funding technique. No funds are requested as this is a non-cash funding technique. This funding technique is interest neutral. Pre-Issuance as it applies to the TX Dept of Transportation - Payroll First Week Because highway contractor payments occur during the first week of each month, the Texas Department of Transportation (TXDOT) requests payment for all accrued expenditures submitted by highway contractors during this time. Federal reimbursement funds are needed immediately after TXDOT issues a payment check or EFT to its highway contractors. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. TXDOT calculates the necessary funding based on a project's funding profile and the associated federal share. This funding technique is not interest neutral. Reimbursement The State will requests funds such that they are deposited in a State account after the State has disbursed funds for Federal assistance program purposes. This funding technique is interest neutral. Weekly Draws - Texas Department of Transportation (Program Cost/Other) Each week (excluding the first week of the month), the Texas Department of Transportation (TXDOT) shall request payment for expenditures (submitted by contractors and for all other direct cost) that have been paid for by the State Highway Fund. TXDOT needs federal reimbursement funds bi-within one to three weeks from when a payment check or EFT has cleared the bank. The frequency of federal reimbursement funds involving this weekly based on the actual expenditures incurred during the biweekly payroll cycledraw funding technique is around three times per month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal TXDOT can bill depends on the total actual expenditures posted incurred during this time frame. The agency calculates required funding based on the Stateproject's bi-weekly payroll cyclefunding profile and the associated federal share. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cutDocuSign Envelope ID: 841D0F37-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30ECA6-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut45BD-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative AllowancesAF3E-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.EB2AE0DFC6C5
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA Payment Schedule - ACH Monthly The State shall request funds such that they are deposited by ACH in a State account on the settlement date median business day of payments issued by the Statemonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for a prorated share of the lesser of (1) the annual grant divided by 12, or (2) the total amount of Federal funds that clear expected to be paid out for program purposes during the State's account on the settlement date. This year divided by 12.This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment Post-Issuance The State shall request funds such that they are deposited in a State account after the same day it pays out fundsState issues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. disbursement.This funding technique is not interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. .This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. .This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of the month, to fund activity clearance of the prior monthpayroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation plan. last request for funds.This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. There are currently no funding techniques listed Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006.This funding technique is not interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Payment Schedule (Block Grant) The State shall request funds such that they are deposited in a State account on a weekly basisthe 15th and the last business day of each month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for funds shall not be a prorated share of the lesser of:
1) The quarterly grant divided by six (6) semi-monthly periods within the quarter or
2) The total amount of Federal funds expected to be paid out for program purposes during the actual expenditures which occurred in quarter divided by six (6) semi-monthly periods within the past weekly periodquarter. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Average Clearance - Modified Payment Schedule (Monthly Drawdown) The State shall request funds once a month for amounts that were disbursed in the prior month. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Monthly Drawdown (HUD) HUD determines the day of the drawdown. HUD requires the investment of any cash balance in the program account and the deposit of earnings to the account from which invested. The State and FMS are reviewing the interest calculation methodology for this program. This funding technique is interest neutral. Monthly Billing The State shall xxxx and request Highway Planning and Construction funds monthly during the month immediately following the month vendors were paid and the second month following the month payroll was disbursed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Since the State does not xxxx weekly, the Federal interest liability shall not accrue prior to the day the State submits a request for funds. This funding technique is not interest neutral. WIC Zero Balance Accounting The State shall request funds on the same day it pays out funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The Federal agency shall deposit funds directly in the State fiscal agent bank account maintained at the WIC contractor bank account the same day it receives a request for funds. This funding technique is interest neutral. Zero Balance Accounting The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end amount of the quarterfunds are disbursed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Payment Schedule: CFDA 10.555 National School Lunch Program Payments The State shall request funds once a monthmonth from the United States Department of Agriculture (USDA) for other private schools, such that they are deposited on the day of the month specified for each componentcharter schools, and residential institutions. The request shall will be made within 15 business days after the State has submitted the Food Nutrition Services (FNS)-10 (30 day) report to USDA in accordance with the appropriate Federal agency Exhibit I cut-off time specified in Exhibit I. time. The amount of the funds request shall be is based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to FNS-10 (30 day) report -number of meals served and the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end reimbursement rate prescribed under 7 Code of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll Regulations (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarterCRF) 210. The State shall request 1/6 or 1/7 of additional funds within 15 business days after the quarterly award, based on State has submitted the number of pay periods within FNS-10 (90 day) report to USDA for any claim adjustments to the quarterFNS-10 (30 day) report. This funding technique is interest neutral. Payment Schedule - Variation (Impact Aid Program, CFDA 84.041) The request Federal Government shall be made make periodic payments to the State in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. 34 CFR Part 219 and 34 CFR Part 222. The State Department of Education is solely responsible for education and public instruction throughout the State, including education at the pre-school, primary and secondary school levels. The State does not drawdown the funds. The U. S. Secretary of Education determines when the State is to receive the funds and in what amount. Neither the Federal Government nor the State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, incur an adjusting draw will occur within 45 days after the quarter's endinterest liability. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly BiWeekly The State shall request will draw down funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for biweekly basis based on the actual expenditures which occurred in the past weekly biweekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Actual Drawdown - Weekly Actual - Payroll The State will request draw down funds bi-on a weekly basis based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment which occurred in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds past weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws Daily Estimated Draw The State shall request will use historical data to determine an estimate for the daily average debit card payments and will draw funds once a weekthe day the unemployment payment batch file is sent to the bank. This is the same day that the debit card amount is debited from the bank account. The Voucher Only amount requested estimate will be based reconciled on expenditures incurred a daily basis and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount any shortfall will be based on added to the amount calculated as due by the Program, since the last request for such fundsnext estimated federal draw. The Provider Payments (Non-Voucher only, not processed through MMIS) Any overage will be based on cash expenditures reflected in subtracted from the State of Maryland's Financial Management Information System (FMIS), since the last request for such fundsnext estimated federal draw. This funding technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)neutral. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified Direct Draw The State shall request funds such that they are deposited by ACH on the dollar weighted average in a State account one day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of date that agency to agency transfer expenditures are posted by a State agency in the quarterComptroller's accounts. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Indirect Cost Rates - Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Base Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of during the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on determined by applying the indirect cost rate to actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days expenditures of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the prior quarter. This funding technique is interest neutral. Payment Schedule This funding technique applies to CFDA 93.575 only. The State shall request funds such that they are deposited in a State account on the fifth business day following the fifteenth day of each month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures (request for funds shall be one-third of the quarterly estimate. The initial award for a particular quarter is based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the estimated need for that quarter. For Demonstration Projects, where actual expenditures are not available until 30 days One month after the end of the quarter, reports from providers are used to determine the actual disbursements for the quarter. The difference between the estimate and the actual is reported as an adjusting draw will occur within 45 days adjustment on the submission of the next quarterly claim request. In the event that actual disbursements exceed the estimate, the difference is expected to be awarded on the first of the month, three months after the end of the quarter in which the expense was reported. The State is eligible to calculate a Federal Interest liability in the event the award is not posted into the proper Connecticut Department of Children and Families account in the U. S. Department of Health and Human Services Payment Management System by the first of the month. The accrual of interest would commence on the first of the month, three months after the end of the quarter in which the expense was incurred until the award is posted in the Payment Management System. If the end of quarter reconciliation reveals that the State’s estimate exceeded actual disbursements for the quarter's end, the State interest liability will accrue from the date Federal funds were overdrawn until the date the overdraw liability is offset. This funding technique is interest neutral. Post Expenditure Funding This funding technique is interest neutral. Prorated Draw - Medical Assistance - EFT The State shall request Federal funds only after related expenditures have been warranted for payment such that they are deposited by ACH in a state account on the settlement date of payments issued by the State’ s Accounting System. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. I. The amount of the request shall be 99.3 percent of the benefit payments paid (except Additional Low Income Medicare Beneficiary, School Based Child Health Programs, and Medicare Part B Premiums). The award shall be based on an estimate of the need for a calendar quarter. After the end of the quarter, a report of actual expenditures shall be submitted. Reconciliation award requests shall be made for the amount difference between actual expenditures and the estimate. Adjustments to funds drawn shall be scheduled upon receipt of that disbursement in whole dollarsreconciliation awards. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for Prorated Draw - Unemployment Insurance Prorated draws of the programprevious month's expenditures to be reconciled on a monthly basis to actual expenditures. The amount shall drawdowns will be on a bi-weekly basis and coincide with the Bi-Weekly Payroll date of clearance for all eligible costs that have been recorded since the last request for fundspayroll checks. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Prorated Draws The State shall request draw down a prorated amount of the quarterly estimate of its administrative award funds once such that they are deposited by ACH in a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based account on the amount calculated as due by the Program, since the last request average day of clearance for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)payroll during each pay period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. I . This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. PreEstimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Post-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day after the State makes a disbursementissues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of the State expects to disbursedisbursement. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. .This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. .This funding technique is interest neutral. Pre-Issuance Estimated Clearance The State shall request funds such that they are deposited by ACH in a State account not more than three business days prior to in accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This I.This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of the month, to fund activity clearance of the prior monthpayroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation plan. last request for funds.This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly Estimated Allocation - Bi-Weekly The State shall request funds once a monthat bi-weekly intervals, such that they are deposited on the median dollar-weighted average day of clearance for payroll payments, as specified in the month, to fund activity of the prior monthappropriate clearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for each bi-weekly period shall be an estimate based on the cost allocation of the prior quarter. This funding technique is interest neutral. Direct Administrative Costs - Drawdowns on a given month's activity Payroll Cycle The State shall request funds for all direct administrative costs such that they are deposited on the dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount of funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation planlast request for funds. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycleprevious two-week period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly billing cycle. Since expenditures using this funding technique are incurred in both the payroll cycleand vendor bank accounts, the State will not apply a clearance pattern to this funding technique and agrees that no federal interest liability will result, provided that federal funds are available and deposited in accordance with the cut-off times specified in Exhibit I. This funding technique is interest neutral. Payment Schedule-Quarterly Estimates-Other Funds will be requested weekly for deposit on the median day of each week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the drawdown shall be based on quarterly estimates and shall be requested in equal weekly amounts throughout the quarter for deposit on the median day of each week. Estimates will be reconciled to actual costs approximately 45 days after the end of the quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Payment Schedule-Quarterly Estimates-Payroll Cycle Funds will be requested bi-weekly to coincide with the States payroll cycle. The State request shall request funds once a month, such that they are deposited on be made in accordance with the day appropriate Federal agency cut-off time specified in Exhibit I. The amount of the drawdown shall be based on quarterly estimates and shall be requested in equal amounts each pay period during the quarter to coincide with the State's bi-weekly payroll cycle. Estimates will be reconciled to actual costs approximately 45 days after the end of the quarter. This funding technique is interest neutral. Prior Month's Actual Funds will be requested monthly for expenditures incurred in the prior month. Expenditures will be determined as soon as possible subsequent to the close of each month specified and a request for each componentfunds will occur as soon as possible thereafter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on for the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to expenditures incurred in the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterprior month. This funding technique is not interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on Weekly Billing Cycle Funds will be requested weekly for expenditures incurred during the 30th States seven-day of the month following the end of the quarterbilling cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to sum of expenditures that have been posted during the program for the quarterStates billing cycle. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Composite Clearance - Weekly Modified The composite average clearance day shall be calculated by combining the average clearance days for each cash flow component within the program. The State shall request funds on a weekly basismultiply the average clearance days for each cash flow component by the percentage of the total program costs represented by each cash flow component to yield the composite average clearance day. Cash flow components include: Child Care Payments - Check, Home Energy Assistance Payments, W2 Payments - Checks, Accounts Payable - Checks, Accounts Payable - ACH, Provider Payments Fiscal Agent DXC, Provider Payments Fiscal Agent - WPS, WIC Food Costs, and Allocated Costs. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in exact amount of the past weekly perioddisbursement. This funding technique is interest neutral. Average Composite Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Highway Planning and Construction (CFDA #20.205 Construction, Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modifiedand Allocated Costs) The State shall request funds once a month, weekly such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the dollar weighted average number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal required for funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposesa series of construction and payroll disbursements (i.e. for the composite average clearance day, in accordance with the clearance pattern specified in Exhibit II (MMISsee description below). The request shall be made in accordance with the appropriate Federal agency cut-cut- off time specified in Exhibit I. The amount of the request shall be the sum of the payments issued in the series of disbursements. The composite average clearance day shall be calculated by combining the average clearance days for the construction and payroll cash flow components within the Highway Planning and Construction Program. The State shall determine the average clearance day for construction costs by analyzing the actual construction costs billed to highway projects during state fiscal year 2015 and applying the average clearance pattern listed in Exhibit II of this Agreement. The State shall multiply the average clearance days for each cash flow component by the percentage of total program costs represented by each cash flow component to yield the composite average clearance day for the Highway Planning and Construction Program. The State shall not use allocated costs in determining the composite average clearance day. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Payment Schedule - Monthly The State shall request funds such that they are deposited by ACH in a State account on the dollar- weighted average median business day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit IImonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for a prorated share of the exact lesser of (1) the annual grant divided by 12, or (2) the total amount of that disbursementFederal funds expected to be paid out for program purposes during the year divided by 12. This funding technique is interest neutral. PrePost-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day after the State makes a disbursementissues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of the State expects to disbursedisbursement. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of the month, to fund activity clearance of the prior monthpayroll. The request shall be made in accordance with the appropriate Federal agency cut-cut- off time specified in Exhibit I. The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation planlast request for funds. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Average Clearance: CFDA 20.106 Airport Improvement Program The State shall request funds such that they are deposited by ACH on the dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. In accordance with Title 00 Xxxxxx Xxxxx Xxxx, Xxxxxxx 00000, payment request over 90% of the grant will require FAA manual approval. Payment will be released after all financial close out documentation has been provided and approved. The request shall be made in accordance with the appropriated Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of funds that clear the State's account that day. This funding technique is interest neutral. Monthly Billing The State shall xxxx and request Highway Planning and Construction funds monthly during the month immediately following the month vendors were paid and the second month following the month payroll was disbursed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Since the State does not xxxx weekly, the Federal interest liability shall not accrue prior to the day the State submits a weekly basisrequest for funds. This funding technique is not interest neutral. Monthly Drawdown (HUD) HUD determines the day of the drawdown. HUD requires the investment of any cash balance in the program account and the deposit of earnings to the account from which invested. The State and Fiscal Service are reviewing the interest calculation methodology for this program. This funding technique is interest neutral. Payment Schedule (Monthly Drawdown) The State shall request funds once a month for amounts that were disbursed in the prior month. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Payment Schedule: CFDA 10.555 National School Lunch Program Payments The State shall request funds once a month from the United States Department of Agriculture (USDA) for other private schools, charter schools, and residential institutions. The request will be made within 15 business days after the State has submitted the Food Nutrition Services (FNS)-10 (30 day) report to USDA in accordance with the appropriate Exhibit I cut-off time. The funds request is based on the FNS-10 (30 day) report -number of meals served and the reimbursement rate prescribed under 7 Code of Federal Regulations (CRF) 210. The State shall request additional funds within 15 business days after the State has submitted the FNS-10 (90 day) report to USDA for any claim adjustments to the FNS-10 (30 day) report. This funding technique is interest neutral. SNAP Zero Balance Accounting The SNAP contractor shall request funds the next business day following the settlement date for purchases/redemptions. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The Federal agency shall deposit funds directly to a SNAP contractor account the same day as requested. The amount of the request shall be for the actual expenditures which occurred in amount of funds for the past weekly periodsettlement date. This funding technique is interest neutral. Average Clearance - Modified WIC Zero Balance Accounting The State shall request funds such that they are deposited by ACH on the dollar weighted average same day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycleit pays out funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each Federal agency shall deposit funds directly in the State fiscal agent bank account maintained at the WIC contractor bank account the same day it receives a request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclefor funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral. Estimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Reimbursable Funding Based on Actual Drawdown Expenditures - Weekly Construction The State shall request Wyoming Military Department (State) and the National Guard Bureau (NGB), funded by Department of Defense (DOD) appropriations, have entered into a Master Construction Cooperative Agreement (MCCA) to establish the terms and conditions applicable to the contribution of NGB funds on for each specific construction projects authorized. These MCCAs are not a weekly basisgrant in the context of what is normally considered a Federal Grant for CMIA purposes. The DOD requirement for the preparation of a Standard Form (SF) 270, a certified statement itemizing the amount of funds expended during the preceding month and the corresponding accounting classification to be charged, makes this agreement unique as far as CMIA is concerned. All incremental construction payments are itemized and consolidated on one separate reimbursement request shall be made in accordance SF 270 for each project each month by the state fiscal office along with the appropriate Federal agency cut-off time specified in Exhibit I. actual expenditure documentation. Once the state fiscal office and the Cooperative Agreement Program Manager (CAPM) agree the reimbursement request is accurate, we submit each request monthly to the United States Property & Fiscal Officer (USPFO) for payment. The amount of USPFO reconciles their financial records and submits the payment request shall be for to the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance Defense Finance and Accounting System (DFAS) to comply with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified listed in Exhibit I. This funding technique is not interest neutral. Bi-Weekly Reimbursable Funding Based on Actual Expenditures - Payroll O&M The State will request funds bi-weekly based on Wyoming Military Department (State) and the actual expenditures incurred during National Guard Bureau (NGB), funded by Department of Defense (DOD) appropriations, have entered into a Master Cooperative Agreement (MCA) to establish the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is terms and conditions applicable to the component. If necessarycontribution of NGB funds and/or in-kind assistance; providing facilities for training of the State Army and Air National Guard and response to state emergencies; support programs for distance learning, adjustments will be made when actual grant costs are knownantiterrorism, approximately 30-50 days after the end of each quarterfirefighting, and security operations; and youth education programs. This funding technique MCA is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once not a quarter, such that they are deposited on grant in the 30th day context of the month following the end of the quarterwhat is normally considered a Federal Grant for CMIA purposes. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program DOD requirement for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll preparation of a Standard Form (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly awardSF) 270, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for a certified statement itemizing the amount of that disbursement in whole dollarsfunds expended during the preceding month and the corresponding accounting classification to be charged, makes this agreement unique as far as CMIA is concerned. This funding technique All purchases are itemized and consolidated on one separate reimbursement request SF 270 for each program each month by the state fiscal office along with the actual expenditure documentation. Once the state fiscal office and the Cooperative Agreement Program Manager (CAPM) agree the reimbursement request is interest neutral. Weekly Billing The State shall accurate, we submit each request funds weekly monthly to the United States Property & Fiscal Officer (USPFO) for the programpayment. The amount shall be for all eligible costs that have been recorded since USPFO reconciles their financial records and submits the last payment request for funds. The request shall be made in accordance to the Defense Finance and Accounting System (DFAS) to comply with the appropriate Federal agency cut-off time specified listed in Exhibit I. This funding technique is not interest neutral. Weekly Draws Reimbursable Funding Based on Actual Expenditures - Payroll The State shall request Wyoming Military Department (State) and the National Guard Bureau (NGB), funded by Department of Defense (DOD) appropriations, have entered into a Master Cooperative Agreement (MCA) to establish the terms and conditions applicable to the contribution of NGB funds once including personnel authorizations for each program. This MCA is not a weekgrant in the context of what is normally considered a Federal Grant for CMIA purposes. The Voucher Only DOD requirement for the preparation of a Standard Form (SF) 270, a certified statement itemizing the amount requested will of funds expended during the preceding month and the corresponding accounting classification to be based charged, makes this agreement unique as far as CMIA is concerned. All payroll expenditures are itemized and included with all other O&M program purchases on expenditures incurred one separate reimbursement request SF 270 for each program each month by the state fiscal office along with the actual expenditure documentation. Once the state fiscal office and recorded in the State of Maryland's Medicaid Management Information Cooperative Agreement Program Manager (CAPM) agree the reimbursement request is accurate, we submit each request monthly to the United States Property & Fiscal Officer (USPFO) for payment. The USPFO reconciles their financial records and submits the payment request to the Defense Finance and Accounting System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMISDFAS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds comply with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified listed in Exhibit I. This funding technique is not interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Indirect Cost Recovery/Actual Drawdown - Weekly Base Description-Quarterly The State shall request funds once a quarter, such that they are deposited on a weekly basisthe seventh working day of the quarter. The request shall be made in accordance with the appropriate federal agency cut-off time specified in Exhibit I. The amount of the request shall be determined by applying the indirect cost rate to the actual direct salary expenditures of the prior quarter. The requested funds are to recover actual costs of the prior quarter. This funding technique is interest neutral. Reimbursable Funding-State Selected The State, by choice, for internal operating purposes, shall request funds after state checks clear. This request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for equal the actual expenditures which occurred in exact amount of the past weekly perioddisbursement. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral. Estimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Reimbursable Funding Technique Name Description Based on Actual Drawdown Expenditures - Weekly Construction The State shall request Wyoming Military Department (State) and the National Guard Bureau (NGB), funded by Department of Defense (DOD) appropriations, have entered into a Master Construction Cooperative Agreement (MCCA) to establish the terms and conditions applicable to the contribution of NGB funds on for each specific construction projects authorized. These MCCAs are not a weekly basisgrant in the context of what is normally considered a Federal Grant for CMIA purposes. The DOD requirement for the preparation of a Standard Form (SF) 270, a certified statement itemizing the amount of funds expended during the preceding month and the corresponding accounting classification to be charged, makes this agreement unique as far as CMIA is concerned. All incremental construction payments are itemized and consolidated on one separate reimbursement request shall be made in accordance SF 270 for each project each month by the state fiscal office along with the appropriate Federal agency cut-off time specified in Exhibit I. actual expenditure documentation. Once the state fiscal office and the Cooperative Agreement Program Manager (CAPM) agree the reimbursement request is accurate, we submit each request monthly to the United States Property & Fiscal Officer (USPFO) for payment. The amount of USPFO reconciles their financial records and submits the payment request shall be for to the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance Defense Finance and Accounting System (DFAS) to comply with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified listed in Exhibit I. This funding technique is not interest neutral. Bi-Weekly Reimbursable Funding Based on Actual Expenditures - Payroll O&M The State will request funds bi-weekly based on Wyoming Military Department (State) and the actual expenditures incurred during National Guard Bureau (NGB), funded by Department of Defense (DOD) appropriations, have entered into a Master Cooperative Agreement (MCA) to establish the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is terms and conditions applicable to the component. If necessarycontribution of NGB funds and/or in-kind assistance; providing facilities for training of the State Army and Air National Guard and response to state emergencies; support programs for distance learning, adjustments will be made when actual grant costs are knownantiterrorism, approximately 30-50 days after the end of each quarterfirefighting, and security operations; and youth education programs. This funding technique MCA is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once not a quarter, such that they are deposited on grant in the 30th day context of the month following the end of the quarterwhat is normally considered a Federal Grant for CMIA purposes. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program DOD requirement for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll preparation of a Standard Form (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly awardSF) 270, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for a certified statement itemizing the amount of that disbursement in whole dollarsfunds expended during the preceding month and the corresponding accounting classification to be charged, makes this agreement unique as far as CMIA is concerned. This funding technique All purchases are itemized and consolidated on one separate reimbursement request SF 270 for each program each month by the state fiscal office along with the actual expenditure documentation. Once the state fiscal office and the Cooperative Agreement Program Manager (CAPM) agree the reimbursement request is interest neutral. Weekly Billing The State shall accurate, we submit each request funds weekly monthly to the United States Property & Fiscal Officer (USPFO) for the programpayment. The amount shall be for all eligible costs that have been recorded since USPFO reconciles their financial records and submits the last payment request for funds. The request shall be made in accordance to the Defense Finance and Accounting System (DFAS) to comply with the appropriate Federal agency cut-off time specified listed in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns at Fixed Intervals The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior monthmonth specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit Exhibit
I. The amount of the request for a given month's activity shall be based on the amount of actual cash outlays for direct administrative costs distributed in accordance with during the State's approved cost allocation planmonth. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State Direct and Indirect Administrative Costs For CFDA 17.225F, the state shall request pay the administrative costs through the Statewide Integrated Financial Tools (SWIFT) and draw funds weekly or on a weekly basisdemand to cover costs paid out of the state's account. The request Requests shall be made in accordance with the appropriate Federal agency cut-off time specified times in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period1. This funding technique is interest neutral. Average Clearance Fiscal Agent, ZBA - Modified The State Same Day Payment Health shall use the Fiscal Agent, ZBA - Same Day Payment funding technique for CFDA 10.557, Special Supplemental Nutrition Program for Women, Infants, and children (WIC). Fidelity National Information Services (FIS) is the fiscal agent for the WIC electronic benefit transfer (EBT) cards. Each business day morning, the fiscal agent will inform Health of the amount needed to fund the fiscal agent account to a zero balance level for that day. Based on the information from the fiscal agent, Health shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor from the Federal Government shall incur an interest liability. The amount of the request shall be for in the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The WIC EBT card or food voucher transactions presented for payment since the last request for funds, less any WIC rebate dollars or State shall request funds weekly for credited to the program. The amount shall be for all eligible costs that have been recorded account since the last request for funds. The funds will be deposited directly to the fiscal agent account. Health shall request shall be made funds in accordance with the appropriate Federal agency cut-off time specified frames in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request I so that the funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded are deposited in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based fiscal agent account on the amount calculated same day as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request Health shall draw funds for such funds. This technique is considered to be interest neutral and, based WIC administration costs on the information available, matches as closely as possible the draw of Federal funds with the time they first working day after administrative costs are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)processed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified Direct Draw The State shall request funds such that they are deposited by ACH on the dollar weighted average in a State account one day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of date that agency to agency transfer expenditures are posted by a State agency in the quarterComptroller's accounts. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll Fee for Services Rendered The State request and receipt of funds will request funds bi-weekly based on coincide with the actual expenditures incurred during draw for the biweekly payroll cyclebeneficiaries' portion. The This request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount This program's administrative costs are based and earned on the number of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclepayments processed to beneficiaries. This funding technique is interest neutral. Drawdowns at Fixed Intervals Indirect Cost Rates - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Actual Base Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of during the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on determined by applying the indirect cost rate to actual costs allocated to expenditures of the program for the prior quarter. This funding technique is interest neutral. Fixed Administrative AllowancesPayment Schedule This funding technique applies to CFDA 93.575 only. The agency is required to submit quarterly expenditure reports to the U.S. Department of Health and Human Services for funds related to the Child Care and Development Fund. The largest category of expenditure is typically Direct Services under the Care 4 Kids program. Under the program, families may qualify for child care vouchers to offset or to cover the cost of care. Their chose child care provider submits invoices matching the voucher within the ImpaCT system, which is operated by the Department of Social Services (DSS). To cover the cost of the Care 4 Kids program payments, the Office of Early Childhood transfers funds from various accounts supporting this program to DSS quarterly and as needed. The State shall request funds such that they are deposited in a State account by the 25th day following the close of each quarter ending 3/31, 6/30, 9/30, and 12/31. If the 25th day falls on a non-BI- Weekly Payroll (modified)-Dollar Weighted business day, the request shall be made on the next business day. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days 1. The amount of the end request for funds shall be aligned with the quarterly ACF-696 expenditure report as filed by the agency. On a monthly basis, DSS submits a report of payments to the Office of Early Childhood detailing the amounts expended in each quarteraccount. The Office of Early Childhood reconciles this information, along with other program expenditure data, to file ACF-696 quarterly report. In this way, the State shall request 1/6 or 1/7 of will be drawing down the quarterly award, based on the number of pay periods within the quarteramounts expended and will not exceed actual disbursements for any time frame. This funding technique is interest neutral. Payment Schedule Prorated Draw - Medical Assistance - EFT The State shall request funds such that they are deposited by ACH in a state account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures request shall be 99.3 percent of the benefit payments paid (except Additional Low Income Medicare Beneficiary, School Based Child Health Programs, and Medicare Part B Premiums). The award shall be based on actual expenditures an estimate of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the need for a calendar quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after After the end of the quarter, an adjusting draw will occur within 45 days after a report of actual expenditures shall be submitted. Reconciliation award requests shall be made for the quarter's enddifference between actual expenditures and the estimate. Adjustments to funds drawn shall be scheduled upon receipt of reconciliation awards. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related Prorated Draw - Unemployment Insurance Prorated draws of the previous month's expenditures have been warranted for payment in the State’ s Accounting Systemto be reconciled on a monthly basis to actual expenditures. The request shall drawdowns will be made in accordance on a bi-weekly basis and coincide with the appropriate agency cutBi-off time specified in Exhibit I and the State Weekly Payroll date of clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for fundspayroll checks. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Prorated Draws The State shall request draw down a prorated amount of the quarterly estimate of its administrative award funds once such that they are deposited by ACH in a weekState account on the average day of clearance for payroll during each pay period. The Voucher Only amount requested will request shall be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, made in accordance with the clearance pattern appropriate Federal agency cut-off time specified in Exhibit II (MMIS)I . This funding technique is interest neutral. Reimbursement The State shall schedule the receipt of Federal funds such that the funds are received and credited to the State bank account on or after the date the funds have been disbursed from the State's funds, in most instances. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of the disbursements. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Composite Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day number of clearance days required for the disbursementfunds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact sum of the payments issued in the series of disbursements. This funding technique is interest neutral. Estimated Clearance The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of that each request will be a percentage of the disbursement, according to the State's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly After Cost Allocation The State agency will make payments for programs purposes with state funds. Federal funds will be requested after actual costs are allocated to programs and funding sources or based on estimated allocations. The request will be made in accordance with cut-off times in Exhibit I (Funds Request and Receipt Time Schedule). All estimates will be reconciled within a 90 day period. The state will voluntarily not file a federal interest liability claim for the difference of federal funds earned versus funds estimated. This funding technique is interest neutral. Direct Administrative Costs-Payroll Additive Rate The State shall request funds for the payroll additive rate such that it is deposited on a weekly basisthe dollar-weighted average as calculated in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount payroll additive rate is a portion of payroll that is set aside for Department of Highways personnel. It is not used by the request shall be State Department of Highways. The rate is used to allocate a cost for leave and benefits for West Virginia Department of Highways personnel working on a federal project, and is a percentage of direct labor costs. It is charged to the project and billed to the Federal Government at the pro rata established for the actual expenditures which occurred in the past weekly periodproject. This funding technique is interest neutral. Average Clearance - Modified In Advance of Issuance The State shall state agency will request funds such that they are deposited by ACH on in a state account not more than one day before the dollar weighted average day of clearance for transaction is completed in the disbursement Statewide accounting system and in accordance with the clearance pattern Average Clearance Payroll specified cut-off times in Exhibit III (Funds Request and Receipt Time Schedule). The Payroll clearance pattern State will use a standard of 3 days prior to the day the State makes a disbursement. However, under exceptional circumstances checks may be applied disbursed from 3 to an estimate of the actual payroll cost 6 days (i.e. holidays). This funding technique is not interest neutral. Modified Pre-Issuance (DHHR Only) The state shall request funds based upon estimated expenditures. The federal cash balance is based on the most recent cost allocation distributionletter of credit for each grant and balanced in a DHHR specific database. This estimate will be The federal cash balance can change due to adjustments by the granting agency for approved/disapproved disbursements. The estimated draws are based upon past experiences and are reconciled to actual costs approximately 30-50 90 days after the end quarter ends. The West Virginia State Treasurer's Office will apply a First-In First-Out method to match draws to expenditures and calculate the interest liability. Settlement draws and retro draws will be used to replenish the federal cash balance but will not match to expenditures. This technique is agency specific for the Department of Health and Human Resources due to the complexity of the quarterprograms covered and the State's Accounting System limitations. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified times in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycleI (Funds Request and Receipt Time Schedule). This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. PrePayment Schedule - Monthly The State shall request funds such that they are deposited in a State account on the median business day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 12, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding technique is interest neutral. Post-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day after the State makes a disbursementissues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of the State expects to disbursedisbursement. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of the month, to fund activity clearance of the prior monthpayroll. The request shall be made in accordance with the appropriate Federal agency cut-cut- off time specified in Exhibit I. The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation planlast request for funds. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly Estimated Allocation - Bi-Weekly The State shall request funds once a monthat bi-weekly intervals, such that they are deposited on the median dollar-weighted average day of clearance for payroll payments, as specified in the month, to fund activity of the prior monthappropriate clearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity each bi-weekly period shall be an estimate based on actual costs distributed in accordance with the State's approved cost allocation planof the prior quarter. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycleprevious two week period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll billing cycle. Since expenditures using this funding technique are incurred in both the payroll and vendor bank accounts, the State will not apply a clearance pattern to this funding technique and agrees that no federal interest liability will result, provided that federal funds are available and deposited in accordance with the cut-off times specified in Exhibit I. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Bi-Weekly Estimate The State shall will request funds once a month, such that they are deposited bi-weekly based on the day estimated federal share of actual expenditures incurred during the month specified for each componentprevious two week period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the each request shall be based on equal the most recent monthly expenditure data available based on either total actual or expenditures posted during the State's bi- weekly billing cycle after applying an estimated costs, whichever is applicable to the componentfederal share percentage. If necessary, adjustments The estimated federal share will be made when reconciled to actual grant costs are known, approximately 30-50 days as soon as possible after the end of each quarterquarterly cost allocation is completed. This funding technique is interest neutral. Drawdowns at Fixed Intervals Indirect Costs - Quarterly Estimate The State shall request funds once a quarter, such that they are deposited on the 30th median day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be an estimate based on the cost allocation of the prior quarter and shall be reconciled to actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of after the quarterly award, based on the number of pay periods within the quartercost allocation is completed. This funding technique is interest neutral. Payment Schedule Schedule-Quarterly Estimates-Other Funds will be requested weekly for deposit on the median day of each week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures (drawdown shall be based on actual expenditures of quarterly estimates and shall be requested in equal weekly amounts throughout the prior fiscal year or the current budget) quarter for deposit on the median day of the montheach week. An adjusting draw Estimates will be made when reconciled to actual expenditures are known, costs approximately 30-50 45 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall Payment Schedule-Quarterly Estimates-Payroll Cycle Funds will be made in accordance requested bi-weekly to coincide with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsStates payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the drawdown shall be based on quarterly estimates and shall be requested in equal amounts each pay period during the quarter to coincide with the State's bi-weekly payroll cycle. Estimates will be reconciled to actual costs approximately 45 days after the end of the quarter. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested Prior Month's Actual Funds will be based on requested monthly for expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS)prior month. The Disproportionate Share amount Expenditures will be based on determined as soon as possible subsequent to the amount calculated as due by the Program, since the last close of each month and a request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) funds will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches occur as closely soon as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)thereafter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures incurred in the prior month. This funding technique is not interest neutral. Weekly Billing Cycle Funds will be requested weekly for expenditures incurred during the States seven day billing cycle. The request shall be made in accordance with the appropriate Federal agency cut-off specified in Exhibit I. The amount of the request shall be the actual sum of expenditures that have been posted during the States billing cycle. This funding technique is not interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Post-Issuance The State shall request funds such that they are deposited by ACH on in a State account after the dollar- weighted average day of clearance for State issues checks, but before the disbursement, in accordance with the clearance pattern specified in Exhibit IIchecks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that the disbursement. This funding technique is not interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral. Indirect Cost Rates - Proportionate Shares The State shall include a proportionate share of the month, indirect cost allowance in each request for funds by applying the indirect cost rate to fund activity the appropriate cost base of the prior montheach drawdown. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed determined by applying the indirect cost rate to the appropriate cost base estimated in accordance with the State's approved cost allocation plandrawdowns. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Average Clearance: CFDA 20.106 Airport Improvement Program (DOT) (SU) The State shall request funds such that they are deposited by ACH on the dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. In accordance with Title 49 United State Code, Section 47111, payment request over 90% of the grant will require FAA manual approval. Payment will be released after all financial close out documentation has been provided and approved. The request shall be made in accordance with the appropriated Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of funds that clear the State's account that day. In addition, under this funding technique, the State agrees to waive any claim to a federal interest liability and will not calculate the federal interest liability. This funding technique is interest neutral. This funding technique is interest neutral. Payment Schedule (Monthly Drawdown) (SU) The State shall request funds once a month for amounts that were disbursed in the prior month. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Payment Schedule (Weekly Drawdown) (SU) The State shall request funds once a week for amounts that were disbursed in the prior week. The State shall not draw down the funds earlier than the dollar-weighted average day of the clearance pattern for checks issued by the applicable program. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Payment Schedule Variation: CFDA 12.600 Community Investment (EDN ) (SU) The State Department of Education will prepare the Federal Standard Form 271 OUTLAY REPORT AND REQUEST FOR REIMBURSEMENT FOR CONSTRUCTION PROGRAMS on a weekly quarterly basis. This form will be e-mailed to the U.S. Department of Defense for review. After review, the U.S. Department of Defense will electronically deposit funds in a State of Hawaii account. This funding technique is interest neutral. Payment Schedule Variation: CFDA 84.041 Impact Aid Program (EDN) (SU) The Federal Government shall make periodic payments to the State in accordance with 34 CRF Part 219 and 34 CRF Part 222. The State Department of Education is soley responsible for education and public instruction throughout the State, including education at the pre-school, primary, and secondary levels. The U.S. Secretary of Education determines when the State is to receive funds and in what amount. The State does not drawdown the funds. Neither the Federal Government nor the State shall incur an interest liablity under this technique. This funding technique is interest neutral. Payment Schedule: CFDA 10.555 National School Lunch Program Payments (EDN) (SU) The State shall request funds once a month from the United States Department of Agriculture (USDA) for other private schools, charter schools, and residential institutions. The request will be made within 25 business days after the State has submitted the Food Nutrition Services (FNS)-10 (30 day) report to USDA in accordance with the appropriate Exhibit I cut- off time. The funds request is based on the FNS-10 (30 day) report -number of meals served and the reimbursement rate prescribed under 7 Code of Federal Regulations (CRF) 210. The State shall request additional funds within 25 business days after the State has submitted the FNS-10 (90 day) report to USDA for any claim adjustments to the FNS-10 (30 day) report. This funding technique is interest neutral. Same Day or Weekly Drawdown: CFDA 84.063 and 84.268 (UH) (SU) The State shall request funds immediately following the distribution of aid or crediting of a loan to a student recipient. The federal agency will deposit funds into a state account in accordance with the schedule outlined in Exhibit 1. The amount requested shall be the amount of the federally approved aid or loan proceeds credited over the previous award period This funding technique is interest neutral. Semi-Monthly Billing: CFDA 20.205 Highway Planning and Construction (DOT) (SU) The State shall bill and request Highway Planning and Construction funds semi-monthly during the month immediately following the month after labor and non-labor expenses are incurred and paid using local, non-federal funds by the State or a subrecipient. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of Since the State does not bill weekly, the Federal interest liability shall not accrue prior to the day the State submits a request shall be for funds. In addition, under this funding technique, the actual expenditures which occurred in State agrees to waive any claim to a federal interest liability and will not calculate the past weekly periodfederal interest liability. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is interest neutral. Fixed Administrative Allowances - Bi-Weekly Payroll The State shall request funds such that one-sixth (or one-seventh) of the monthquarterly administrative allowance is deposited on the dollar-weighted average date of clearance for payroll payments, to fund activity of as specified in the prior monthappropriate clearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Costs - Bi-Weekly Request The State shall request funds at bi-weekly intervals, such that funds are deposited on the day of clearance for payroll payments. The request shall be made in accordance with the appropriate Federal agency cut-off time as specified in Exhibit I. The amount of the request for each bi-weekly period shall be derived from actual costs of the prior two week period including any material one-time payments. The State shall request administrative costs at the end of each quarter in conjunction with the quarterly Federal reports. This funding technique is interest neutral. Actual Costs - Estimated Allocation - Daily The State shall request funds on a daily basis based on the average amount of clearance for UI payments. The state shall adjust the estimated drawdowns to the actual disbursements on a monthly basis. This funding technique is interest neutral. Actual Costs Weekly The State shall request funds weekly basisfor non-administrative costs such that they are requested on Wednesday for receipt on Thursday. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request funds requested shall be based on the amount of expenditures recorded for non-administrative costs since the actual expenditures which occurred in the past weekly periodlast request for funds. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH HUD Payment Schedule HUD (Housing and Urban Development) pays a calculated amount on the dollar weighted average 1st business day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIeach month. The Payroll clearance pattern will be applied to an estimate budget is approved at the beginning of each calendar year. The amount of the actual payroll cost based on monthly allocation is documented in the most recent cost allocation distributionannual budget approved by HUD. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Modified Direct Administrative Costs - Weekly Actual - Payroll The State will shall request funds bi-weekly based for administrative costs such that they are requested on the actual expenditures incurred during the biweekly payroll cycleWednesday for receipt on Thursday. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each funds requested shall be based on the amount of expenditures recorded for administrative costs since the last request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclefor funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals Modified Payment Schedule - Monthly (modified) Weekly The State shall request funds once a month, such that they are deposited on no later than the second business day of the month specified week for each componentreceipt no later than the third business day of the week. The amount of the request shall be based on the amount of the actual funds expended in the prior week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit Exhibit
I. The amount U.S. Treasury and the State shall agree that use of the request this methodology shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterinterest neutral for both parties. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Prior Month's Actual The State shall request funds once a quarter, such that they are deposited on in a State account in accordance with the 30th day of the month following the end of the quarterclearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in In Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement expenditures incurred in whole dollarsthe prior month. A departmental report will be run as soon as possible subsequent to the close of each month to determine these costs and a request for funds will occur as soon as possible thereafter. This funding technique is not interest neutral. Weekly Billing Prior Quarters Actual The State shall request funds weekly for such that they are deposited in a State account in accordance with the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsclearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in In Exhibit I. The amount of the request shall be for the amount of expenditures incurred in the prior quarter. A departmental report will be run as soon as possible subsequent to the close of each quarter to determine these costs and a request for funds will occur as soon as possible thereafter. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There Funding Technique Name Description Block Grants Where State Cannot Trace Disbursements The State shall request funds such that they are currently no deposited in a State account on the median day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for funds shall be the lesser of the annual award divided by 12, or the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding techniques listed technique is interest neutral. Capitalization Grants for State Revolving Funds The State shall request funds to minimize the time between the drawdown of funds from Treasury and their deposit into the revolving fund. The timing of the drawdown of Federal funds for deposit to the revolving fund is subject to the interest provisions of 31 CFR Part 205, however there is an interest exemption for the interest the State earns once the funds are deposited into the revolving fund. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of the funds to be used for immediate program purposes. The State will not incur an interest liability for interest earned on revolving fund loans. This funding technique is interest neutral. Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Actuals at Fixed Intervals The State shall will request funds at fixed intervals (daily, weekly, etc.) based on a weekly basisexpenditures incurred during the fixed interval period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the each request shall be for equal the total actual expenditures which occurred in posted during the past weekly period. This The State will not apply a clearance pattern to this funding technique is and agrees that no federal interest neutral. Average Clearance - Modified The State shall request liability will result, provided that federal funds such that they are available and deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time times specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycleprevious two-week period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly billing cycle. Since expenditures using this funding technique are incurred in both the payroll cycleand vendor bank accounts, the State will not apply a clearance pattern to this funding technique and agrees that no federal interest liability will result, provided that federal funds are available and deposited in accordance with the cut-off times specified in Exhibit I. This funding technique is interest neutral. Payment Schedule-Quarterly Estimates- Other Funds will be requested weekly for deposit on the median day of each week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the drawdown shall be based on quarterly estimates and shall be requested in equal weekly amounts throughout the quarter for deposit on the median day of each week. Estimates will be reconciled to actual costs approximately 45 days after the end of the quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Payment Schedule-Quarterly Estimates- Payroll Cycle Funds will be requested bi-weekly to coincide with the State's payroll cycle. The State request shall request funds once a month, such that they are deposited on be made in accordance with the day appropriate Federal agency cut-off time specified in Exhibit I. The amount of the drawdown shall be based on quarterly estimates and shall be requested in equal amounts each pay period during the quarter to coincide with the State's bi-weekly payroll cycle. Estimates will be reconciled to actual costs approximately 45 days after the end of the quarter. This funding technique is interest neutral. Prior Month's Actual Funds will be requested monthly for expenditures incurred in the prior month. Expenditures will be determined as soon as possible subsequent to the close of each month specified and a request for each componentfunds will occur as soon as possible thereafter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on for the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to expenditures incurred in the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterprior month. This funding technique is not interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on Weekly Billing Cycle Funds will be requested weekly for expenditures incurred during the 30th State's seven-day of the month following the end of the quarterbilling cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to sum of expenditures that have been posted during the program for the quarterState's billing cycle. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation - Actual Drawdown - Weekly Biweekly Actual Allocation, Biweekly: The State shall request funds every two weeks, such that they are deposited during the first and third weeks of the month, to fund activity of the prior two weeks. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given two week's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral. Cost Allocation - Actual - Quarterly Actual Allocation, Quarterly: The State shall request funds every quarter, such that they are deposited 45 days after the end of the quarter, to fund activity of the prior quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given quarter's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral. Cost Allocation - Weekly - Variation #1 Weekly Allocation, Variation 1: The State shall request funds weekly basisto fund costs incurred. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual Federal administrative costs incurred, based on expenditures which occurred in of the past weekly periodprior week. The percentage of administrative costs for each week are attributable to each grant. Actual Clearance (0 Days). This funding technique is interest neutral. Average Clearance Payment Schedule - Modified Monthly - Variation #1 The State shall request funds such that they are deposited by ACH in a State account on the dollar weighted average day of clearance for (A) to fund the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each componentperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be (B) and adjusted to actual on a (C) basis. A - 15th (or closest working day prior to the 15th) B - an estimate based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable allocation of costs to the component. If necessaryprogram for the preceding six months, adjustments will be made when actual or one-third the quarterly grant costs are known, approximately 30-50 days after the end of each quarteraward C - quarterly. This funding technique is interest neutral. Drawdowns at Fixed Intervals Payment Schedule - Quarterly Monthly - Variation #5 The State shall request funds once a quarter, such that they are deposited on in a State account (A) to provide per diem for the 30th day total days of the month following the end of the quartercare provided during that period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based (B) and adjusted to actual on a (C) basis. A - no later than the last day of the current month following submission of the prior months State Homes Report B - the applicable per diem rate times the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 prior months total days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quartercare C - not applicable. This funding technique is interest neutral. Payment Schedule - Weekly - Variation #4 The State shall request funds such that they are deposited in a State account on the (A) to fund the costs incurred during that period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures request shall be (based B) and adjusted to actual on a (C) basis. A - a weekly basis such that they are deposited midweek B - an estimate for the week C - to reflect actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's endweek. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Payment Schedule - Weekly Billing - Variation #7 The State shall request funds weekly for such that they are deposited in a State account on the program. The amount shall be for all eligible (A) to fund the costs incurred during that have been recorded since the last request for fundsperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in of the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. (B) and adjusted to actual on a (C) basis. A - midweek B - prior week's costs C - not applicable This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the sum of the payments issued in the series of disbursements. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Actual Costs - Estimated Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund the activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be an estimate based on the actual costs of the month distributed to the program according to the allocation of costs for the preceding six months. This funding technique is interest neutral. Direct Administrative Costs - Drawdowns at Fixed Intervals The State shall request funds once a given month's activity , such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit
I. The amount of the request shall be based on the amount of actual cash outlays for direct administrative costs distributed in accordance with during the State's approved cost allocation planmonth. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made There are no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.Section 6.2.4
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Estimated Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in a State account in accordance with the clearance pattern specified in Exhibit IIII - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be for disbursement, according to the exact amount of that disbursementState's clearance pattern specified in Exhibit II - EC. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Costs - Weekly Department of Human Services The State shall request funds for all Direct and Indirect payments on a weekly daily basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent amount of liabilities recorded since the last request for funds. The amount of Indirect Costs to be requested per program shall be determined based on prior quarter cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarterpercentages by fund. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual Costs - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Direct Administrative The State shall request funds once for all Direct Administrative costs on a month, such that they are deposited on the day of the month specified for each componentdaily basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual liabilities recorded for direct administrative costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws Actual Costs - EFT - Department of Human Services (CFDA 93.778) The State shall request funds for all Medicaid Direct paid via EFT once a per week. The Voucher Only request for funds shall be made in accordance with the appropriate Federal agency cut- off time specified in Exhibit I. The amount requested will be based on expenditures incurred and recorded in of the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will request shall be based on the amount calculated as due by the Program, of liabilities recorded since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This funding technique is considered interest neutral. Average Clearance - Highway (CFDA 20.205) The Arkansas State Highway and Transportation Department has a Direct Deposit system for payment of Construction Contractor payments. This system is available to contractors on a voluntary basis (approximately 90% are currently utilizing the system). Clearance patterns will be interest neutral andrevised as needed when the Direct Deposit of contractor payments affect the average clearance. Request of Federal funds by electronic wire transfer are made weekly, based on the information availableweekly expenditures, matches as closely as possible the draw of Federal funds and correspond with the time they are paid out established clearance patterns. The request for program purposes, funds shall be made in accordance with the clearance pattern appropriate Federal agency cut-off time specified in Exhibit II 1. This funding technique is interest neutral. Monthly Billing - Highway (MMIS)CFDA 20.205) The State will request funds from the U.S. Department of Transportation for monthly payroll and administrative costs on the second billing subsequent to the close of the month in which State issued payment. The billing will be submitted on the normal weekly billing with the Vendor/Contractor costs. The request for funds shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. .The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The I.The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The II.The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The I.The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Estimated Clearance The State shall request funds such that they are deposited in a State account not more than three business days prior to in accordance with the day the State makes a disbursement. The clearance pattern specified in Exhibit II - EC (Estimated Clearance).The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The I.The amount of each request will be a percentage of the request shall be disbursement, according to the amount the State expects to disburseState's clearance pattern specified in Exhibit II - EC. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of the month, to fund activity clearance of the prior month. payroll.The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The I.The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation planlast request for funds. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Base - Weekly Monthly(2) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds within the last two business days of the month or within the first two business days of the next month, such that they are deposited on the following business day. The amount of the request shall be determined by the month's actual costs. Cost allocation adjusting entries, if any, will be recorded weekly, on Monday. If there are adjusting entries, the funds will be reconciled, and the State will draw or return funds within two business days, based on reonciliation differences. This funding technique is interest neutral. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Daily The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds such that they are deposited by ACH in the State Account using an estimated daily average cost that is based on the actual costs of the month two months prior to the current month. Estimated indirect costs will be recorded daily to unique expenditure accounts. At the end of the month, actual costs for the prior month will be recorded, and the prior month s estimated costs reversed. The funds will be reconciled monthly after the cost allocation program has been run. The State will draw or return funds based on the reconciliation differences for the month. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds weekly on Wednesday such that they are deposited on the following business day. The amount of the request shall be based on the amount of actual cash outlays for direct and indirect administrative costs during the prior week, Wednesday through Tuesday. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly (2) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds weekly on Wednesday such that they are deposited on the following business day. The amount of the request shall be based on the amount of actual cash outlays for direct and estimated indirect administrative costs during the prior week, Wednesday through Tuesday. The estimated indirect costs are based on the actual indirect costs of the month two months prior to the current month. At the end of the month, actual indirect costs for the prior month will be recorded, and the prior month s estimated costs reversed. The funds will be reconciled monthly after the cost allocation program has been run. The State will draw or return funds based on the reconciliation differences for the month. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly (3) The Department of Transportation shall submit a weekly basisinvoice for all program costs and payments. The request of the funds shall be made in accordance with the appropriate Federal agency cut-off time in Exhibit I. The amount of the request shall be the amount of actual costs and payments incurred since the last request for funds. This funding technique is interest neutral. Modified Actual Clearance (ZBA - ACH) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Each day, the State will receive notification of the amount of EBT benefits and fee payments that processed the previous day, and the State's cash balance will be reduced by the amount of EBT payments processed. On the same day, the State will request that amount and receive and deposit the funds on the same day requested. This funding technique is interest neutral. Modified Actual Clearance (ZBA - ACH) (2) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. On the first day of the fiscal year, the State will draw down the amount clearing the State's bank account on June 30 of the prior fiscal year plus the average daily clearance amount (based on the average over the last year). Therefore, the State will request the actual amount that clears each day for deposit the following day. This shifts the draw down process from being one day in arrears based on actual, to being same day based on the daily average, adjusted to reflect the difference between the average and what actually cleared the previous day. Monthly rebates received by the Department of Public Health and Human Services will be liquidated prior to federal funds being requested. This funding technique is interest neutral. Payment Schedule - HUD The Department of Commerce completes monthly reports during the fiscal year. HUD (Housing and Urban Development) uses these monthly reports to calculate the amount of HAP (Housing Assistance Payments) and direct administrative costs needed by the State for the next fiscal year. HUD pays the calculated amount on the first business day of each month during the fiscal year. The Department of Commerce will disburse the funds in the following manner:
(1) Payments to landlords by EFT (Electronic Fund Transfer) will be disbursed so that the settlement date is the first business day of the month.
(2) Payments to landlords by warrant will be issued on the first business day of the month. The warrant clearance pattern listed in Exhibit II will be used.
(3) Direct administrative costs will be recorded on the dollar-weighted average date of clearance of payroll.
(4) Indirect administrative costs will be recorded at the end of each month. The costs will be calculated using the indirect cost rate and actual salary expenditures for the month. This funding technique is interest neutral. Payment Schedule - HUD (2) The Department of Commerce electronically transmits voucher payment information to HUD via TRACSMail approximately four business days prior to the last business day of the month. HUD s Tenant Rental Assistance System (TRACS) compares the transmitted voucher information to HUD data on file. The voucher payment request, excluding any voucher and contract discrepancies identified in the comparison process, is then forwarded to the HUD payment funding system (LOCCS Line of Credit Control System). On the last business day of the month, LOCCS sends an e-mail to the Department of Commerce regarding the HUD deposit scheduled for the first business day of the next month. The e-mail includes an estimated deposit date, dollar amount, and an attachment with individual contract payment detail. The Department of Commerce reconciles the voucher payment information transmitted to HUD to the LOCCS e-mail deposit total. The Department of Commerce will then disburse housing assistance payments by EFT (Electronic Fund Transfer), so that the settlement date is the first business day of the month, except for the months of January and July.The settlement date will be the second business day of those months due to 1099 reporting (January) and fiscal year-end reporting (July). This funding technique is interest neutral. Reimbursable Funding (Direct Administrative Costs) The State shall request funds for all direct administrative costs from the Department of Defense/National Guard Bureau (DoD/NGB) on the pay date of bi-weekly State payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of funds requested shall be based on the amount of liabilities recorded for direct administrative costs since the last request for funds. This funding technique is not interest neutral. Reimbursable Funding (EFT) The State shall request funds from the Department of Defense/National Guard Bureau (DoD/NGB) on the payment date of electronic fund transfer payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cutoff time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the payment date. This funding technique is not interest neutral. Reimbursable Funding (Warrants) The State shall request funds from the Department of Defense/National Guard Bureau (DoD/NGB) on the issue date of State warrant payments. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in exact amount of the past weekly periodwarrant disbursement. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Actual Costs - Estimated Allocation Plans - Monthly The State shall request funds once a month, such that they are deposited on the median day of the month, to fund the activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be an estimate based on the actual costs of the month distributed in accordance with to the State's approved cost program according to the allocation planof costs for the preceding six months. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Highway Composite (Average Clearance) The State shall request funds on a weekly basisDepartment of Transportation (DOT) will use an average clearance methodology described as follows: Using department files, the DOT will capture federally participating expenditure data for the applicable CFDA numbers. The request shall dollar amounts of the expenditures will not be made reduced by the State share of funding. The clearance time is the difference between the disbursement redemption date and the expenditure posting date. A weighted clearance time is calculated by multiplying the clearance time by a weighting factor. The weighting factor is the federally participating expenditure amount divided by the total of all federally participating expenditure amounts of the disbursements redeemed in the reporting period. The average clearance time is the sum of the weighted clearance times. All uncleared disbursements will have a clearance time of three hundred sixty-five (365) days. All employee disbursements paid via payroll direct deposit will have a weighted clearance time of zero (0). Any disbursements with negative clearance times will have a weighted clearance time of zero (0). Disbursements that are cancelled and reissued or replaced by a duplicate will not be used in the average clearance calculation. Expenditures that are not traceable back to the DOT's accounts payable system will not be used in the average clearance calculation. These non-traceable expenditures are primarily the result of data entry errors and are expected to be infrequent, irregular, and have an immaterial impact on the results of the average clearance calculation. All requests for funds will be in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount DOT will use a weekly billing process for requesting Federal funds based on the federally participating expenditures posted during the billing cycle with one Federal deposit on the date of average clearance. Any refunds and program income received will be credited against the request shall next billing cycle. Funds received by the DOT for rentals of property and/or sale of property acquired with Federal program funds are considered to be for the actual expenditures which occurred in the past weekly periodprogram income. This funding technique is interest neutral. Average Clearance - Modified Scheduled Draws Funding The State shall request will draw Federal funds such that they are deposited by ACH for administrative costs-payroll, administrative costs-other, and indirect costs on a prorata basis to coincide with the dollar weighted average day of clearance for the disbursement semi-monthly payroll cycle (24 times per year) in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II31 CFR 205.18(a). The Payroll clearance pattern prorata amount of direct and indirect costs included in the drawdown will be applied to an estimate of the actual payroll cost based on the most recent immediate cash needs to cover projected direct and indirect cost allocation distributionexpenditures allocable to the program until the next scheduled drawdown. This estimate All requests will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time times specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made Under these conditions and in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle31 CFR 205.12(d), no interest liability will be incurred or calculated on these revolving loan funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. .The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The I.The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A I.A Federal agency will deposit funds in a State account the same day as requested. .The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The II.The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The I.The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly Estimated Allocation - Bi-Weekly The State shall request funds once a monthat bi-weekly intervals, such that they are deposited on the median dollar-weighted average day of clearance for payroll payments, as specified in the month, to fund activity appropriate clearance pattern in Exhibit II.The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I.The amount of the request for each bi- weekly period shall be an estimate based on the cost allocation of the prior monthquarter. This funding technique is interest neutral. Direct Administrative Costs - Drawdowns on a Payroll Cycle The State shall request funds for all direct administrative costs such that they are deposited on the dollar-weighted average date of clearance of payroll.The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The I.The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation planlast request for funds. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement,the Federal Government makes payments on behalf of the Statefor the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycleprevious two week period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll billing cycle. Since expenditures using this funding technique are incurred in both the payroll and vendor bank accounts, the State will not apply a clearance pattern to this funding technique and agrees that no federal interest liability will result, provided that federal funds are available and deposited in accordance with the cutoff times specified in Exhibit I. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals Indirect Costs - Quarterly Estimate The State shall request funds once a quarter, such that they are deposited on the 30th median day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be an estimate based on the cost allocation of the prior quarter and shall be reconciled to actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of after the quarterly award, based on the number of pay periods within the quartercost allocation is completed. This funding technique is interest neutral. Payment Schedule Schedule-Quarterly Estimates-Other Funds will be requested weekly for deposit on the median day of each week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures (drawdown shall be based on actual expenditures of quarterly estimates and shall be requested in equal weekly amounts throughout the prior fiscal year or the current budget) quarter for deposit on the median day of the montheach week. An adjusting draw Estimates will be made when reconciled to actual expenditures are known, costs approximately 30-50 45 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall Payment Schedule-Quarterly Estimates-Payroll Cycle Funds will be made in accordance requested bi-weekly to coincide with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsStates payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the drawdown shall be based on quarterly estimates and shall be requested in equal amounts each pay period during the quarter to coincide with the State's bi-weekly payroll cycle. Estimates will be reconciled to actual costs approximately 45 days after the end of the quarter. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested Prior Month's Actual Funds will be based on requested monthly for expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS)prior month. The Disproportionate Share amount Expenditures will be based on determined as soon as possible subsequent to the amount calculated as due by the Program, since the last close of each month and a request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) funds will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches occur as closely soon as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)thereafter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures incurred in the prior month. This funding technique is not interest neutral. Weekly Billing Cycle Funds will be requested weekly for expenditures incurred during the States seven day billing cycle. The request shall be made in accordance with the appropriate Federal agency cut-off specified in Exhibit I. The amount of the request shall be the actual sum of expenditures that have been posted during the States billing cycle. This funding technique is not interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in a State account not more than three business days prior to accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount sum of the State expects to disbursepayments issued in the series of disbursements. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns at Fixed Intervals The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior monthmonth specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit Exhibit
I. The amount of the request for a given month's activity shall be based on the amount of actual cash outlays for direct administrative costs distributed in accordance with during the State's approved cost allocation planmonth. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State Direct and Indirect Administrative Costs For CFDA 17.225F, the state shall request pay the administrative costs through the Statewide Integrated Financial Tools (SWIFT) and draw funds weekly or on a weekly basisdemand to cover costs paid out of the state's account. The request Requests shall be made in accordance with the appropriate Federal agency cut-off time specified times in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period1. This funding technique is interest neutral. Average Clearance Fiscal Agent, ZBA - Modified The State Same Day Payment Health shall use the Fiscal Agent, ZBA - Same Day Payment funding technique for CFDA 10.557, Special Supplemental Nutrition Program for Women, Infants, and children (WIC). Solutran, doing business through Citizens Alliance Bank, Xxxxxx Lake, Minnesota, is the fiscal agent for the WIC food vouchers. These vouchers, and the use of this vendor, are discontinuing September 30, 2019. Fidelity National Information Services (FIS) is the fiscal agent for the WIC electronic benefit transfer (EBT) cards. Each business day morning, the fiscal agent will inform Health of the amount needed to fund the fiscal agent account to a zero balance level for that day. Based on the information from the fiscal agent, Health shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor from the Federal Government shall incur an interest liability. The amount of the request shall be for in the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The WIC EBT card or food voucher transactions presented for payment since the last request for funds, less any WIC rebate dollars or State shall request funds weekly for credited to the program. The amount shall be for all eligible costs that have been recorded account since the last request for funds. The funds will be deposited directly to the fiscal agent account. Health shall request shall be made funds in accordance with the appropriate Federal agency cut-off time specified frames in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request I so that the funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded are deposited in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based fiscal agent account on the amount calculated same day as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request Health shall draw funds for such funds. This technique is considered to be interest neutral and, based WIC administration costs on the information available, matches as closely as possible the draw of Federal funds with the time they first working day after administrative costs are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)processed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. .This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. .This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. .This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Actual Drawdown Estimated Allocation - Weekly The State shall request funds on a weekly basisspecific day of each week. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for each weekly period shall be for an estimate based on the cost allocation of the prior quarter and immediate cash needs. The weekly draws will be adjusted to actual once a month when cost allocation is completed. This adjustment will be made by reducing or increasing the subsequent drawdown.This funding technique is interest neutral. Actual Drawdown - Weekly The State will drawdown funds on a weekly basis based on the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll Prorated Drawdown The State will shall request funds bi-weekly based such that they are deposited on the actual expenditures incurred during the biweekly dollar weighted average date of clearance for payroll cycle. payments, as specified in Exhibit I. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request the drawdown shall equal be 1/26th of the total personal services costs for the prior year. This draw shall then be adjusted to actual expenditures posted during the State's bi-weekly payroll cycleonce a month after cost allocation has been completed. This funding technique is interest neutral. Drawdowns at Fixed Intervals Estimated Allocation - Monthly (modified) Bi-Weekly The State shall request funds once a monthat bi-weekly intervals, such that they are deposited on the dollar-weighted average day of clearance for payroll payments, as specified in the month specified for each componentappropriate clearance pattern in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for each bi-weekly period shall be an estimate based on the most recent monthly expenditure data available based on either cost allocation of the prior six months and immediate cash needs. An adjustment to actual or estimated costs, whichever is applicable to the component. If necessary, adjustments costs will be made when actual grant costs are known, approximately 30-50 days after done on a monthly basis. The adjustment will either reduce or increase the end of each quartersubsequent drawdown. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Composite Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day number of clearance days required for the disbursementfunds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount sum of that disbursementthe payments issued in the series of disbursements. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Base Quarter Amount, Bi-weekly The State shall request funds such that they are deposited in a State account on a weekly basisthe average day of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the actual amount of administrative expenses for the actual expenditures which occurred base quarter, divided by the number of pay periods in the past weekly periodcurrent quarter. The base quarter shall be the most recent quarter for which actual data is available. Once each quarter, as soon as possible after the first business day of the quarter, the State shall make an adjustment in its next request for funds to reconcile the difference between the funds drawn for the period and the actual costs incurred. The adjustment shall be interest neutral. This funding technique is interest neutral. Modified Average Clearance - Modified Clearance, Monthly Estimate The State shall request funds such that they are deposited by ACH in a State account on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quartermonthly disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time cutoff times specified in Exhibit I. The amount drawn shall be an estimate of the value of the monthly disbursement. Once each quarter, as soon as possible after the close of the prior quarter, the State shall adjust for the difference between the total amount drawn and the actual costs incurred or the Federal settlement of the claim. The adjustment shall be interest neutral. This funding technique is interest neutral. Bi-Weekly Actual - Payroll Payment Schedule (Annual Award, Monthly) The State will request shall receive funds bi-weekly based such that they are deposited in a State account on the actual expenditures incurred during 1st banking day of the biweekly payroll cyclemonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request the receipt shall equal be 1/12 of the total actual expenditures posted during annual grant award. Program disbursements are to be made such that they clear on the State's bi-weekly payroll cyclefirst banking day of the month. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Prior Month Actual, Mid-monthly The State shall request funds once a month, such that they are deposited on the 15th calendar day of the month month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request will be the actual disbursements of the preceding month; i.e. the draw for August 15th will be in the amount of the July actual disbursements. If both the State and Federal Government fulfill and adhere to the specific elements and timing of this funding technique, the State voluntarily waives Federal interest liabilities resulting from the State prior expenditure funding technique. This funding technique is interest neutral. Quarterly Estimate, Same Day Payment, Biweekly The State shall request funds such that they are deposited in a State account on the day of the request. The request shall be made in accordance with the appropriate Federal agency cut off time specified in Exhibit I. The amount of the request shall be an estimate of expenses for the current period, divided by the number of pay periods in the quarter. Once each componentquarter the State shall make a draw adjustment to reconcile the difference between the funds drawn for the period and the actual costs incurred or the federal settlement of the claim. The adjustment shall be interest neutral. This funding technique is interest neutral. Quarterly Estimates, Bi-weekly The State shall request funds such that they are deposited in a State account on the average day of clearance of payroll. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on an estimate of all administrative expenses for the most recent monthly expenditure data available based on either actual or estimated costscurrent period, whichever is applicable to divided by the componentnumber of pay periods in the quarter. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of Once each quarter, the State shall make an adjustment to request funds to reconcile the difference between the funds drawn for the period and the actual costs incurred or the federal settlement of the claim. The adjustment shall be interest neutral. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Reimbursement Analysis The State shall request funds once a quarter, such that they are deposited on the 30th day upon determination of the month following reimbursable costs incurred by the end of the quarterState. The request shall will be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Payments to the State owned/operated medical services are paid by State funds and reflected in Xxxxxx, the State's fiscal agent, based on division cost reports. The amount of draw reimburses the State for costs previously incurred and offset by any rebates or recoveries: therefore, it is not disbursed and the State shall request shall be funds every Monday based on the actual costs allocated weekly Xxxxxx reports. If both the State and Federal Government fulfill and adhere to the program for specific elements and timing of this funding technique, the quarterState voluntarily waives Federal interest liabilities resulting from the State prior expenditure funding technique. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. .This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. .This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. .This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Payment Schedule - Monthly The State shall request funds once a month, such that they are deposited in a State account on the median business day of the month, to fund activity of the prior month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate a prorated share of the actual payroll cost based on lesser of (1) the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a monthannual grant divided by 12, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.or
Appears in 1 contract
Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation - Actual Drawdown - Weekly Biweekly Actual Allocation, Biweekly: The State shall request funds every two weeks, such that they are deposited during the first and third weeks of the month, to fund activity of the prior two weeks. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given two week's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral. Cost Allocation - Actual - Quarterly Actual Allocation, Quarterly: The State shall request funds every quarter, such that they are deposited 45 days after the end of the quarter, to fund activity of the prior quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given quarter's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral. Cost Allocation - Daily - Variation #2 Daily Allocation, Variation 2: The State shall request funds daily to fund costs incurred. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The funds drawn will be disbursed using Actual Clearance, (ZBA) ZBA - ACH, Wire. This funding technique is interest neutral. Cost Allocation - Weekly - Variation #1 Weekly Allocation, Variation 1: The State shall request funds weekly basisto fund costs incurred. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual Federal administrative costs incurred, based on expenditures which occurred in of the past weekly periodprior week. The percentage of administrative costs for each week are attributable to each grant. Actual Clearance (0 Days). This funding technique is interest neutral. Average Clearance Payment Schedule - Modified Monthly - Variation #1 The State shall request funds such that they are deposited by ACH in a State account on the dollar weighted average day of clearance for (A) to fund the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each componentperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be (B) and adjusted to actual on a (C) basis. A - 15th (or closest working day prior to the 15th) B - an estimate based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable allocation of costs to the component. If necessaryprogram for the preceding six months, adjustments will be made when actual or one-third the quarterly grant costs are known, approximately 30-50 days after the end of each quarteraward C - quarterly. This funding technique is interest neutral. Drawdowns at Fixed Intervals Payment Schedule - Quarterly Monthly - Variation #5 The State shall request funds once a quarter, such that they are deposited on in a State account (A) to fund the 30th day of the month following the end of the quartercosts incurred during that period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based (B) and adjusted to actual on a (C) basis.
A - the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days second week of the end of each quarter. The State shall request 1/6 or 1/7 of month B - the quarterly award, based on the number of pay periods within the quarter. prior month's costs C - not applicable This funding technique is interest neutral. Payment Schedule - Weekly - Variation #4 The State shall request funds such that they are deposited in a State account on the (A) to fund the costs incurred during that period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 amount of the total annual expected expenditures request shall be (based B) and adjusted to actual on a (C) basis. A - a weekly basis such that they are deposited midweek B - an estimate for the week C - to reflect actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's endweek. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Payment Schedule - Weekly Billing - Variation #7 The State shall request funds weekly for such that they are deposited in a State account on the program. The amount shall be for all eligible (A) to fund the costs incurred during that have been recorded since the last request for fundsperiod. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in of the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. (B) and adjusted to actual on a (C) basis. A - midweek B - prior week's costs C - not applicable This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance Estimated Clearance The State shall request funds such that they are deposited in a State account not more than three business days prior to in accordance with the day the State makes a disbursementclearance pattern specified in Exhibit II - EC (Estimated Clearance). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request will be a percentage of the request shall be disbursement, according to the amount the State expects to disburseState's clearance pattern specified in Exhibit II - EC. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule Daily The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 request funds such that they are deposited by ACH in the State Account using an estimated daily average cost that is based on the actual costs of the total annual expected expenditures (based on actual expenditures of the month two months prior fiscal year or to the current budget) on the median day of the month. An adjusting draw Estimated indirect costs will be made when actual expenditures are known, approximately 30-50 days after recorded daily to unique expenditure accounts. At the end of the quartermonth, actual costs for the prior month will be recorded, and the prior month' s estimated costs reversed. For Demonstration Projects, where actual expenditures are not available until 30 days The funds will be reconciled monthly after the end of cost allocation program has been run. The State will draw or return funds based on the quarter, an adjusting draw will occur within 45 days after reconciliation differences for the quarter's endmonth. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds weekly on Wednesday such that they are deposited on the following business day. The amount of the request shall be based on the amount of actual cash outlays for direct and indirect administrative costs during the prior week, Wednesday through Tuesday. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS2) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds weekly on Wednesday such that they are deposited on the following business day. The amount of the request shall be based on the amount of actual cash outlays for direct and estimated indirect administrative costs during the prior week, Wednesday through Tuesday. The estimated indirect costs are based on the actual indirect costs of the month two months prior to the current month. At the end of the month, actual indirect costs for the prior month will be recorded, and the prior month' s estimated costs reversed. The funds will be reconciled monthly after the cost allocation program has been run. The State will draw or return funds based on the reconciliation differences for the month. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly (3) The Department of Transportation shall submit a weekly invoice for all program costs and payments. There maybe instances that require MDT to draw more than once within a week (i.e. month-end closing or large dollar payments that cannot wait until the next weekly draw). The request of the funds shall be made in accordance with the appropriate Federal agency cut-off time in Exhibit I to the extent practical. The amount of the request shall be the amount of actual costs and payments incurred since the last request for funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Weekly (4) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall request funds weekly on Wednesday, or as reasonable to address negative cash needs, such that they are deposited on the date of receipt from the appropriate Federal Agency. The amount of the request shall be based on the amount of actual program costs incurred during the prior week, Wednesday through Tuesday. This funding technique is interest neutral. Modified Actual Clearance (ZBA - ACH) The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Each day, the State will receive notification of the amount of EBT benefits and fee payments that processed the previous day, and the State's cash balance will be reduced by the amount of EBT payments processed. On the same day, the State will request that amount and receive and deposit the funds on the same day requested. This funding technique is interest neutral. Payment Schedule - HUD The Department of Commerce completes monthly reports during the fiscal year. HUD (Housing and Urban Development) uses these monthly reports to calculate the amount of HAP (Housing Assistance Payments) and direct administrative costs needed by the State for the next fiscal year. HUD pays the calculated amount on the first business day of each month during the fiscal year. The Department of Commerce will disburse the funds in the following manner:
(1) Payments to landlords by EFT (Electronic Fund Transfer) will be disbursed so that the settlement date is within the first five business day of the month and the 15th day of the month or the closest working date after the 15th.
(2) Payments to landlords by warrant will be issued within the first five business day of the month and the 15th day of the month or the closest working date to the 15th. Emergency warrants will be considered and settled on a case by case basis. The warrant clearance pattern listed in Exhibit II will be used.
(3) Direct administrative costs will be recorded on the dollar-weighted average date of clearance of payroll.
(4) Indirect administrative costs will be recorded at the end of each month. The costs will be calculated using the indirect cost rate and actual salary expenditures for the month. This funding technique is interest neutral. Payment Schedule - HUD (2) The Department of Commerce electronically transmits voucher payment information to HUD via TRACSMail approximately four business days prior to the last business day of the month. HUD' s Tenant Rental Assistance System (TRACS) compares the transmitted voucher information to HUD data on file. The voucher payment request, excluding any voucher and contract discrepancies identified in the comparison process, is then forwarded to the HUD payment funding system (LOCCS Line of Credit Control System). On the last business day of the month, LOCCS sends an e-mail to the Department of Commerce regarding the HUD deposit scheduled for the first business day of the next month. The e-mail includes an estimated deposit date, dollar amount, and an attachment with individual contract payment detail. The Department of Commerce reconciles the voucher payment information transmitted to HUD to the LOCCS e-mail deposit total. The Department of Commerce will then disburse housing assistance payments by EFT (Electronic Fund Transfer), so that the settlement date is the first business day of the month, except for the months of January and July.The settlement date will be the second business day of those months due to 1099 reporting (January) and fiscal year-end reporting (July). This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown Automated Central Draw Indirect Cost Rates - Weekly Monthly The State shall request funds once a month, such that they are deposited on a weekly basisthe median day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. 1. The amount of the request shall be for the actual expenditures which occurred calculated in the past weekly periodCommonwealths financial system (MMARS) by applying the indirect cost rate to the appropriate cost base of the prior month. This funding technique is interest neutral. Average Clearance Bi-Weekly Draw - Modified Approved Expenditures The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in a State account in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the actual sum of expenditures that have been incurred, recorded, identified and reconciled as billable since the last two-week draw cycle request was processed. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. The amount of the request shall be the actual sum of expenditures that have been incurred, recorded, identified and reconciled as billable since the last two-week draw cycle request was processed. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. Bi-Weekly Actual - Payroll Reimbursable Funding The State will shall request funds bi-weekly based on such that they are deposited in a State account in accordance with the actual expenditures incurred during the biweekly payroll cycleclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each the request shall equal be the total actual sum of expenditures posted during that have been incurred, recorded, identified and reconciled as billable since the State's bilast two-weekly payroll cycleweek draw cycle request was processed. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals Cost Allocation Plan - Monthly (modified) Quarterly The State shall request funds once a month, such that they are deposited on in a State account in accordance with the day of the month clearance pattern specified for each componentin Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The state shall request funds once a per quarter, the amount of the request shall be based on actual costs distributed in accordance with the most recent monthly expenditure data available State's approved cost allocation plan. The amount of the funds requested for the draw shall be based on either the actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end amount of each quarterexpenditures recorded. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Cost Allocation Plan Monthly The State shall request funds once a quarter, such that they are deposited on in a State account in accordance with the 30th day of the month following the end of the quarterclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The state shall request funds once a month, the amount of the request shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. The amount of the funds requested for the draw shall be based on the actual costs allocated to the program for the quarteramount of expenditures recorded. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing Daily Draw - EBT The State shall request funds weekly for such that they are deposited in a State account in accordance with the program. The amount shall be for all eligible costs that have been recorded since the last request for fundsclearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The Commonwealth will request the draw down of funds daily for Electronic Benefit Transfers costs. The draw down of funds shall be the same day EBT expenditures are reflected on the Luminist report # DTAEB040. Funds will always be drawn on the same day that the report is available. The Commonwealth will draw down a fixed percentage of TANF funds on a daily basis. This fixed percentage rate will be based on the lowest claiming quarter for TANF/MOE during the prior calendar year. The fixed percentage rate will also be updated annually This funding technique is interest neutral. Weekly Draws Daily Reimbursable Funding The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time that they are paid out for program purposes, deposited in a State account in accordance with the clearance pattern specified in Exhibit II (MMIS)II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the actual sum of expenditures that have been incurred, recorded, identified and reconciled as billable since the last daily draw request was processed. The draw down of funds shall occur two business days after the actual expenditure has been disbursed and is reflected in a standard query of the Commonwealths General Ledger. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. FHWA Weekly Actual Reimbursement The State shall request funds such that they are deposited in a State account in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off specified in Exhibit I. The amount of the request shall be the actual sum of expenditures that have been incurred, recorded, identified and reconciled as billable from the preceding Tuesday, Wednesday, Thursday, Friday and Monday. In all the cases the request for funds will occur after the state has disbursed funds. This funding technique is interest neutral. HUD Payment Schedule HUD (Housing and Urban Development) pays a calculated amount on the 2nd or 3rd business day of each month. An annual budget submitted by the state is approved by HUD at the beginning of each calendar year. The amount of the monthly allocation is documented in the annual budget approved by HUD. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Payment Schedule - Bi-Weekly The State shall request funds such that they are deposited in a State account on the median business day of the bi-weekly period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 26, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 26.This funding technique is interest neutral. Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. .This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment Estimated Clearance The State shall request funds such that they are deposited by ACH in a State account in accordance with the same day it pays out funds, clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This I.This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. .This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. There are currently no funding techniques listed Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006.This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 6.3 of this Agreement. Pre-Clearance Funding Technique Name Description Actual Drawdown - Weekly The State (Cash Advance) for 10.557 Drawdowns shall request funds on be deposited to a weekly basisseparate WIC benefit payment account against which the WIC food instruments clear. The request shall shalll be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The request The amount of the request each drawdown shall be for based on:
1) The average daily clearance activity of the actual expenditures which occurred WIC benefit payment account.
2) The current balance in the past weekly periodWIC benefit payment account.
3) The variance in daily clearance activity of the WIC benefit payment account, which may contribute to an overdraft if not accounted for. This funding technique is not interest neutral. Average Clearance - Modified Bi-weekly Draws The State shall request draw down funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual allocated, indirect, and incidental administrative costs approximately 30at bi-50 days after the end of the quarterweekly intervals. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made each state payday and in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of funds drawn each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a monthperiod for allocated, such that they are deposited on the day of the month specified for each component. The request indirect costs and incidental administrative costs shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 prorata share of the quarterly award, grant award for such costs. The quarterly grant award shall be prorated based on the number of pay periods within the paydays in each calendar quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. .This funding technique is interest neutral.
6.2.5 The estimated clearance pattern is calculated in accordance with Section 7.0 of this agreement and is based upon actual historical data for each program covered by this funding methodology. This methodology calculates clearance factors accounting for 100% of the actual historical disbursement data used. The clearance factors calculated for each program are applied to current actual disbursements of the same program. Therefore, no reconciliation to actual is necessary.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. PreComposite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the sum of the payments issued in the series of disbursements. This funding technique is interest neutral. Payment Schedule - Monthly The State shall request funds such that they are deposited in a State account on the median business day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 12, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding technique is interest neutral. Post-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day after the State makes a disbursementissues checks, but before the checks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount of the State expects to disbursedisbursement. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns on a Payroll Cycle The State shall request funds once a month, for all direct administrative costs such that they are deposited on the median day dollar-weighted average date of the month, to fund activity clearance of the prior monthpayroll. The request shall be made in accordance with the appropriate Federal agency cut-cut- off time specified in Exhibit I. The amount of the request for a given month's activity funds requested shall be based on actual the amount of liabilities recorded for direct administrative costs distributed in accordance with since the State's approved cost allocation planlast request for funds. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Monthly Billing The State shall xxxx and request Highway Planning and Construction funds monthly during the month immediately following the month vendors were paid and the second month following the month payroll was disbursed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Since the State does not xxxx weekly, the Federal interest liability shall not accrue prior to the day the State submits a request for funds. This funding technique is not interest neutral. Monthly Drawdown - Weekly (HUD) HUD determines the day of the drawdown. HUD requires the investment of any cash balance in the program account and the deposit of earnings to the account from which invested. The State and FMS are reviewing the interest calculation methodology for this program. This funding technique is interest neutral. Payment Schedule (Block Grant) The State shall request funds such that they are deposited in a State account on a weekly basisthe 15th and the last business day of each month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for funds shall not be a prorated share of the lesser of:
1) The quarterly grant divided by six (6) semi-monthly periods within the quarter or
2) The total amount of Federal funds expected to be paid out for program purposes during the actual expenditures which occurred in quarter divided by six (6) semi-monthly periods within the past weekly periodquarter. Neither the Federal Government nor the State shall incur an interest liability under the application of this technique. This funding technique is interest neutral. Average Clearance - Modified Payment Schedule (Monthly Drawdown) The State shall request funds such once a month for amounts that they are deposited by ACH on were disbursed in the dollar prior month. The State shall not draw down the funds earlier than the dollar-weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIfor checks issued by the applicable program. The Payroll clearance pattern will be applied to Neither the Federal Government nor the State shall incur an estimate interest liability under the application of the actual payroll cost based on the most recent cost allocation distributionthis technique. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual Payment Schedule - Payroll Variation (Impact Aid Program, CFDA 84.041) The Federal Government shall make periodic payments to the State in accordance with 34 CFR Part 219 and 34 CFR Part 222. The State will Department of Education is solely responsible for education and public instruction throughout the State, including education at the pre-school, primary and secondary school levels. The State does not drawdown the funds. The U. S. Secretary of Education determines when the State is to receive the funds and in what amount. Neither the Federal Government nor the State shall incur an interest liability. This funding technique is interest neutral. Payment Schedule: CFDA 10.555 National School Lunch Program Payments The State shall request funds bionce a month from the United States Department of Agriculture (USDA) for other private schools, charter schools, and residential institutions. The request will be made within 15 business days after the State has submitted the Food Nutrition Services (FNS)-10 (30 day) report to USDA in accordance with the appropriate Exhibit I cut-weekly off time. The funds request is based on the actual expenditures incurred during FNS-10 (30 day) report -number of meals served and the biweekly payroll cyclereimbursement rate prescribed under 7 Code of Federal Regulations (CRF) 210. The State shall request additional funds within 15 business days after the State has submitted the FNS-10 (90 day) report to USDA for any claim adjustments to the FNS-10 (30 day) report. This funding technique is interest neutral. SNAP Zero Balance Accounting The SNAP contractor shall request funds the next business day following the settlement date for purchases/redemptions. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The Federal agency shall deposit funds directly to a SNAP contractor account the same day as requested. The amount of each the request shall equal be for the total actual expenditures posted during amount of funds for the State's bi-weekly payroll cyclesettlement date. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) WIC Zero Balance Accounting The State shall request funds once a month, such that they are deposited on the same day of the month specified for each componentit pays out funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of Federal agency shall deposit funds directly in the State fiscal agent bank account maintained at the WIC contractor bank account the same day it receives a request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterfor funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State shall request will draw down funds on a weekly basis. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for basis based on the actual expenditures which occurred in the past weekly period. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The Drawdown - Actual & Estimate State shall request funds once such that they are deposited in a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based account on the amount calculated as due by median business day of the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)week. The request shall be made in accordance with the appropriate Federal agency Agency cut-off time specified in Exhibit I. The amount requested shall be comprised of two portions. Portion 1 - will include the actual expenditures made during the previous two business days, Portion 2 - will include an estimate of the expenditures to be made in the next three business days. Each week, the current cash balance will be taken into consideration through revenue and expense analysis. Any cash imbalances will be corrected in the current week's drawdown. In the event the Payment Management System (PMS) will not allow funds to be returned on the draw date, they can be returned in the days following the draw date. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutral.Section 6.2.2
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Direct Funding Technique Name Description Actual Drawdown - Weekly WSDOT The State shall request funds only after related cash expenditures have been recorded in TRAINS. Because the process is an automatic one, we expect reimbursement the same day wire requests are made. The amount of the request shall be the actual sum of cash expenditures that have been incurred, recorded, identified, and reconciled as billable from the preceding week. This funding technique is interest neutral. Modified Administrative Costs - Annual Administrative costs will be drawn on an annual basis for disaster recovery projects administered by the Washington Military Department. The draw request will be made in accordance with the cut-off times as shown in Exhibit I. Funds requested will be an accumulation of the administrative costs since the last draw. This funding technique is interest neutral. Modified Direct Program Costs Except for managed care payments, the State shall request funds for direct program costs to providers and clients. The draw will occur on fixed intervals. Managed care payments will have a weekly basisseparate draw. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Managed care payments will be drawn the day before the payment to providers, so funds are received on date of managed care payments. The amount of the draw will be an accumulation of program costs since the last draw. This funding technique is interest neutral. Modified Direct Program Costs - Admin, Payroll, Payments to Providers (ACH Drawdown on Payroll Cycle) The State shall request funds for all direct administrative costs and/or payroll costs, and/or payments made to providers and to support providers. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request funds requested shall be based on the amount of expenditures recorded for direct administrative costs and/or payroll costs and/or payments made to providers or to support providers since the actual last request for funds. The State payroll cycle is payday twice a month. Draws made day before payday are for deposit on payday. The draw request will be made in accordance with cut-off time in Exhibit 1. The amount of the funds requested shall be based on the amount of expenditures which occurred in recorded for direct administrative costs and/or payroll costs and/or payments made to providers or to support providers since the past weekly periodlast request for funds. This funding technique is interest neutral. Average Clearance Modified Direct Program and Administrative Costs - Modified Monthly The State shall request draws funds such that they are deposited by ACH on after the dollar weighted average day close of clearance fiscal month for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIdirect program and indirect administrative costs. The Payroll clearance pattern draw request will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount funds drawn be will the accumulation of each request shall equal costs since the total actual expenditures posted during the State's bi-weekly payroll cyclelast draw. This funding technique is interest neutral. Drawdowns This funding technique is interest neutral. Modified Direct Program/Benefit Costs - Direct program/benefit payments to Providers (ACH Drawdown at Fixed Intervals - Monthly (modifiedSPI) The State shall request funds once a month, for all direct program/benefit payments to Providers. The request shall be made such that they the funds are deposited to the State's account on the last working day of the month specified for each componentmonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request funds requested shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable amount of expenditures recorded for the direct program/benefit payments to Providers since the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarterlast request for funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Modified Pre-Issuance (Post-Issuance) (Fedwire Same Day Payment) The State shall request funds once a quarter, daily from the Unemployment Insurance Trust Fund to pay for State unemployment insurance benefits. The State shall request funds such that they are deposited on into the 30th day of state account after the month following state issues checks, but before the end of the quarterchecks clear. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A federal agency shall deposit funds in the State account the same day as requested. The amount of the request shall be based on the amount of the actual costs allocated warrants disbursed, except in the case of a holiday following a day upon which checks are issued; in this circumstance, an estimate will be used and an adjustment made to the program for the quarternext draw. This funding technique is interest neutral. Fixed Pre-Issuance Grant Anticipation Revenue Vehicle (GARVEE) Bond Repayment The State of Washington Department of Transportation will request funds for the repayment of GARVEE Bonds issued and paid by the Bond Retirement Interest Agency. Funds will be requested for payments of principal and interest on bonds. Funds may be requested at least seven business days in advance of the bond payment. This early drawdown has been approved by the Federal Highway Administration (FHWA) and Fiscal Service. This funding technique is interest neutral. UI Admin - Modified Payment Schedule (Fedwire Semi-Monthly Drawdown on Payday) The State shall request funds semi-monthly. It issues Electronic Funds Transfer (EFT) payments and Voucher payments for Administrative Allowancesand Xxxx Act costs including payroll. The State shall request funds semi-BI- Weekly Payroll (modified)-Dollar Weighted monthly. Warrants for Administrative and Xxxx Act Costs including payroll are disbursed from the State's account. The State's request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of A federal agency shall deposit funds in the end of each quarter. The State shall account the same day as requested, if the request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. 1. The State shall draw down 1/12 amount of the total annual expected expenditures (based on actual expenditures request shall be the amount of EFT payments and Journal Voucher payments for Administrative and Xxxx Act costs including payroll that are issued from the prior fiscal year or State's account and the current budget) on the median day amount of the month. An adjusting draw will be made when actual expenditures Warrants for Administrative and Xxxx Act costs including payroll that are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarterdisbursed from State's endaccount. This funding technique is interest neutral. Post Expenditure Funding The State shall request UI Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing (Fedwire Same Day Payment Modified Actual Clearance ZBA) The State shall request funds weekly daily from the Unemployment Insurance Trust Fund to pay for the programFederal unemployment insurance benefits. The amount State shall be request funds the same day it pays out funds (based upon actual settlement from the bank for all eligible costs that have been recorded since the last request for funds. The request shall be made both checks and warrants), in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State A federal agency shall request deposit funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS)account the same day as requested. The Disproportionate Share amount will of the request shall be based on the amount calculated as due by of the Program, since actual warrants redeemed and checks cleared on that day in the last request for such fundsState's account. The Provider Payments (Non-Voucher only, not processed through MMIS) will amount of the request may be adjusted based on cash expenditures reflected upon the balance in the State of Maryland's Financial Management Information System (FMIS), since account from the last request for such fundsprevious day. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- dollar-weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Composite Clearance The State shall request funds such that they are deposited on the dollar-weighted average number of days required for funds to be paid out for a series of disbursements, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the sum of the payments issued in the series of disbursements. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans Direct Administrative Costs - Monthly Drawdowns at Fixed Intervals The State shall request funds once a month, such that they are deposited on the median day of the month, to fund activity of the prior monthmonth specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit Exhibit
I. The amount of the request for a given month's activity shall be based on the amount of actual cash outlays for direct administrative costs distributed in accordance with during the State's approved cost allocation planmonth. This funding technique is interest neutral.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly The State Direct and Indirect Administrative Costs For CFDA 17.225F, the state shall request pay the administrative costs through the Statewide Integrated Financial Tools (SWIFT) and draw funds weekly or on a weekly basisdemand to cover costs paid out of the state's account. The request Requests shall be made in accordance with the appropriate Federal agency cut-off time specified times in Exhibit I. The amount of the request shall be for the actual expenditures which occurred in the past weekly period1. This funding technique is interest neutral. Average Clearance Fiscal Agent, ZBA - Modified The State Same Day Payment Health shall use the Fiscal Agent, ZBA - Same Day Payment funding technique for CFDA 10.557, Special Supplemental Nutrition Program for Women, Infants, and Children (WIC). Solutran, doing business through the Citizens Alliance Bank, Xxxxxx Lake, Minnesota, is the fiscal agent for the WIC food vouchers. Each business day morning, the fiscal agent will inform Health of the amount needed to fund the fiscal agent account to a zero balance level for that day. Based on the information from the fiscal agent, Health shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) The State shall request funds once a month, such that they are deposited on the day of the month specified for each component. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quarter. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor from the Federal Government shall incur an interest liability. The amount of the request shall be for in the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The WIC vouchers presented for payment since the last request for funds, less any WIC rebate dollars or State shall request funds weekly for credited to the program. The amount shall be for all eligible costs that have been recorded account since the last request for funds. The funds will be deposited directly to the fiscal agent account. Health shall request shall be made funds in accordance with the appropriate Federal agency cut-off time specified frames in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request 1 so that the funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded are deposited in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based fiscal agent account on the amount calculated same day as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request Health shall draw funds for such funds. This technique is considered to be interest neutral and, based WIC administrative costs on the information available, matches as closely as possible the draw of Federal funds with the time they first working day after administrative costs are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS)processed. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance The State shall request funds such that they are deposited by ACH on the dollar- weighted average day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit II. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the exact amount of that disbursement. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed Funding Technique Name Description Reverse Flow Program - SSI (CFDA 96.006) In accordance with the terms in Section 6.2.39.0 of this Agreement, the Federal Government makes payments on behalf of the State for the Supplemental Security Income (SSI) program, CFDA No. 96.006. This funding technique is interest neutral.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Monthly Estimate/Monthly Draw The State departments will estimate the monthly expenditures during the first week of each month. This amount will be requested within the first ten working days of each month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit l. The State will reconcile the actual expenditures to the estimate for each month and adjust the subsequent request for funds. This funding technique is interest neutral. Monthly Estimate/Monthly Draw-- Administrative Costs Monthly operating and equipment expenditures shall be estimated monthly and recorded on the median day of the month. The State shall request payroll funds such that they are deposited to coincide with the State's monthly payroll cycle. The amount of the requests shall be an estimate of expenditures based on a weekly basishistorical data. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount estimate will be reconciled to actual costs within 45 days after the end of the request shall month, and future draws will be for the actual expenditures which occurred in the past weekly periodadjusted accordingly. This funding technique is interest neutral. Average Clearance Reimbursement--Department of Public Health The California Department of Public Health (CDPH) utilizes a Fiscal Agent (Heluna Health) to administer Assistance Listing 93.323 - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance Epidemiology and Laboratory Capacity for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit IIInfectious Diseases (ELC) grant. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State Heluna Health will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cyclefollowing receipt of invoice from CDPH. The request shall be made in accordance Federal Government is not liable for interest payment associated with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cyclethis reimbursable funding technique. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly (modified) Reimbursement--Department of Transportation The State shall Department of Transportation will request Federal funds once a monththe expenditures have been incurred, such that they are deposited on the day of the month specified for each componentrecorded, and identified as billable. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of In most instances, the request shall be based on the most recent monthly expenditure data available based on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments of funds will be made when actual grant costs are known, approximately 30-50 days occur after the end of each quarterState has paid out its funds. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly The State shall request funds once a quarter, such that they are deposited on the 30th day of the month following the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be based on the actual costs allocated to the program for the quarter. This funding technique is interest neutral. Fixed Administrative Allowances-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing The State shall request funds weekly for the program. The amount shall be for all eligible costs that have been recorded since the last request for funds. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a week. The Voucher Only amount requested will be based on expenditures incurred and recorded in the State of Maryland's Medicaid Management Information System (MMIS). The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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Description of Funding Techniques. 6.2.1 The following are terms under which standard funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Clearance, ZBA - ACH The State shall request funds such that they are deposited by ACH in a State account on the settlement date of payments issued by the State. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for the amount of funds that clear the State's account on the settlement date. This funding technique is interest neutral. Actual Clearance, ZBA - Same Day Payment The State shall request funds the same day it pays out funds, in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. A Federal agency will deposit funds in a State account the same day as requested. The amount of the request shall be for the amount of funds that clear the State's account that day. This funding technique is interest neutral. Average Clearance Payment Schedule - Bi-Weekly The State shall request funds such that they are deposited by ACH in a State account on the dollar- weighted average median business day of clearance for the disbursement, in accordance with the clearance pattern specified in Exhibit IIbi-weekly period. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be for a prorated share of the exact lesser of (1) the annual grant divided by 26, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 26. This funding technique is interest neutral. Payment Schedule - Monthly The State shall request funds such that disbursementthey are deposited in a State account on the median business day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be a prorated share of the lesser of (1) the annual grant divided by 12, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 12. This funding technique is interest neutral. Pre-Issuance The State shall request funds such that they are deposited in a State account not more than three business days prior to the day the State makes a disbursement. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request shall be the amount the State expects to disburse. This funding technique is not interest neutral.
6.2.2 The following are terms under which funding techniques for administrative costs shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Cost Allocation Plans - Monthly The State shall request funds once a month, such that they There are deposited on the median day of the month, to fund activity of the prior month. The request shall be made currently no funding techniques listed in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of the request for a given month's activity shall be based on actual costs distributed in accordance with the State's approved cost allocation plan. This funding technique is interest neutralSection 6.2.2.
6.2.3 The following are terms under which miscellaneous funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. There are currently no funding techniques listed in Section 6.2.3.
6.2.4 The following are terms under which State unique funding techniques shall be implemented for all transfers of funds to which the funding technique is applied in section 6.3.2 of this Agreement. Funding Technique Name Description Actual Drawdown - Weekly Monthly Draws-Prior Month Activity The State shall request funds once a month, such that they are deposited on a weekly basisthe median day of the month. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request for a given month’ s activity shall be for the actual expenditures which occurred in the past weekly perioddirect costs. This funding technique is interest neutral. Average Clearance - Modified The State shall request funds such that they are deposited by ACH on the dollar weighted average day of clearance for the disbursement in accordance with the clearance pattern Average Clearance Payroll specified in Exhibit II. The Payroll clearance pattern will be applied to an estimate of the actual payroll cost based on the most recent cost allocation distribution. This estimate will be reconciled to actual costs approximately 30Monthly Draws-50 days after the end of the quarter. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Bi-Weekly Actual - Payroll The State will request funds bi-weekly based on the actual expenditures incurred during the biweekly payroll cycle. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The amount of each request shall equal the total actual expenditures posted during the State's bi-weekly payroll cycle. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Monthly Prior Month Activity (modifiedindirect costs) The State shall request funds once a month, such that they are deposited on the median day of the month specified for each componentmonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request for a given month’ s activity shall be based on the most recent monthly expenditure data available based allocation of indirect costs. These costs shall be reconciled on either actual or estimated costs, whichever is applicable to the component. If necessary, adjustments will be made when actual grant costs are known, approximately 30-50 days after the end of each quartera quarterly basis. This funding technique is interest neutral. Drawdowns at Fixed Intervals - Quarterly Non Central Draw Indirect Cost Rate- Monthly The State shall request funds once a quartermonth, such that they are deposited on the 30th median day of the month following the end of the quartermonth. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. times. The amount of the request shall be based on calculated by applying the actual costs allocated indirect cost rate to the program for appropriate cost base of the quarterprior month. This funding technique is interest neutral. Fixed Administrative AllowancesSemi-BI- Weekly Payroll (modified)-Dollar Weighted The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. Reconciliation will occur within 60 days of the end of each quarter. The State shall request 1/6 or 1/7 of the quarterly award, based on the number of pay periods within the quarter. This funding technique is interest neutral. Payment Schedule The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. The State shall draw down 1/12 of the total annual expected expenditures (based on actual expenditures of the prior fiscal year or the current budget) on the median day of the month. An adjusting draw will be made when actual expenditures are known, approximately 30-50 days after the end of the quarter. For Demonstration Projects, where actual expenditures are not available until 30 days after the end of the quarter, an adjusting draw will occur within 45 days after the quarter's end. This funding technique is interest neutral. Post Expenditure Funding The State shall request Federal funds only after related expenditures have been warranted for payment in the State’ s Accounting System. The request shall be made in accordance with the appropriate agency cut-off time specified in Exhibit I and the State clearance days shown in Exhibit II. Federal funds are requested to be received by the next business day. As long as the State does not draw funds prior to the warrant date for the related disbursement, and as long as the State receives the Federal funds no later than two business days after warranted, neither the State nor the Federal Government shall incur an interest liability. The amount of the request shall be for the amount of that disbursement in whole dollars. This funding technique is interest neutral. Weekly Billing Monthly The State shall request funds weekly for the program. The amount shall be for all eligible costs end of the first and third week each month to fund the activity that have been recorded has occurred since the last request for fundsmost recent draw. The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral. Weekly Draws The State shall request funds once a weektimes. The Voucher Only amount requested of the request will be based on expenditures incurred and recorded in for the State of Maryland's Medicaid Management Information System (MMIS)actual activity that has occurred. The Disproportionate Share amount will be based on the amount calculated as due by the Program, since the last request for such funds. The Provider Payments (Non-Voucher only, not processed through MMIS) will be based on cash expenditures reflected in the State of Maryland's Financial Management Information System (FMIS), since the last request for such funds. This technique is considered to be interest neutral and, based on the information available, matches as closely as possible the draw of Federal funds with the time they are paid out for program purposes, in accordance with the clearance pattern specified in Exhibit II (MMIS). The request shall be made in accordance with the appropriate Federal agency cut-off time specified in Exhibit I. This funding technique is interest neutral.
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