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. 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. 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.

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. 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. Composite Average Clearance The State shall request funds such that they are deposited by ACH on the dollar-weighted average number day of days required clearance for funds to be paid out for a series of disbursementsthe 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 sum exact amount of the payments issued in the series of disbursementsthat disbursement. This funding technique is interest neutral. Pre-Issuance Payment Schedule - Weekly The State shall request funds such that they are deposited in a State account not more than three on the median business days prior to day of the day the State makes a disbursementweek. The request 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 State expects to disburseyear divided by 52. 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. 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. Composite Clearance Post-Issuance The State shall request funds such that they are deposited on in a State account after the dollar-weighted average number of days required for funds to be paid out for a series of disbursementsState issues checks, in accordance with but before 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 the sum amount of the payments issued in the series of disbursementsdisbursement. 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.

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. 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. Composite Estimated 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 in a series of disbursements, 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 the each request shall will be the sum a percentage of the payments issued disbursement, according to the State's clearance pattern specified in the series of disbursementsExhibit 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.

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. 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. Composite Average Clearance The State shall request funds such that they are deposited by ACH on the dollar-weighted average number day of days required clearance for funds to be paid out for a series of disbursementsthe 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 sum exact amount of the payments issued in the series of disbursements. 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.

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. 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. Composite Average Clearance The State shall request funds such that they are deposited by ACH on the dollar-weighted average number day of days required clearance for funds to be paid out for a series of disbursementsthe 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 sum exact amount of the payments issued in the series of disbursementsthat 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.

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. 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. 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.

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. 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-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. Composite Average Clearance The State shall request funds such that they are deposited by ACH on the dollar-weighted average number day of days required clearance for funds to be paid out for a series of disbursementsthe 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 sum exact amount of the payments issued in the series of disbursements. 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.