Common use of Description of Funding Techniques Clause in Contracts

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 - 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 - 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.

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 - 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. Payment Schedule - Weekly Pre-Issuance The State shall request funds such that they are deposited in a State account on not more than three business days prior to the median business day of the weekState 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 a prorated share of the lesser of (1) amount the annual grant divided by 52, or (2) the total amount of Federal funds expected State expects to be paid out for program purposes during the year divided by 52disburse. This funding technique is not interest neutral.

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 ACH The State shall request funds such that they are deposited by ACH in a State account on the same day it pays out funds, 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. 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. on the settlement date.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. Payment Schedule - Weekly Pre-Issuance The State shall request funds such that they are deposited in a State account on not more than three business days prior to the median business day of the weekState 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 a prorated share of the lesser of (1) amount the annual grant divided by 52, or (2) the total amount of Federal funds expected State expects to be paid out for program purposes during the year divided by 52. disburse.This funding technique is not interest neutral.

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 - Same Day Payment ACH The State shall request funds such that they are deposited by ACH in a State account on the same day it pays out funds, 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. 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 dayon the settlement date. 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. Payment Schedule - Weekly Pre-Issuance The State shall request funds such that they are deposited in a State account on not more than three business days prior to the median business day of the weekState 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 a prorated share of the lesser of (1) amount the annual grant divided by 52, or (2) the total amount of Federal funds expected State expects to be paid out for program purposes during the year divided by 52disburse. This funding technique is not interest neutral.

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 - 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 - Weekly Monthly The State shall request funds such that they are deposited in a State account on the median business day of the weekmonth. The request 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 5212, or (2) the total amount of Federal funds expected to be paid out for program purposes during the year divided by 5212. 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.