Common use of Institutions of Higher Education and Other Non-Profit Organizations Clause in Contracts

Institutions of Higher Education and Other Non-Profit Organizations. If an Awardee is covered by 45 CFR Part 2543 it must maintain advance funds in interest-bearing accounts unless: (a) It receives less than $120,000 in federal funds per year; (b) The best reasonably available account would not be expected to earn interest in excess of $250 per year on federal cash balances; or (c) The required minimum balance is so high that it would not be feasible within expected federal and non-federal cash resources. Earned interest must be remitted annually to HHS-PMS, Xxxxxxxxx, XX 00000. Awardees may keep up to $250 of interest per year to offset administrative expenses.

Institutions of Higher Education and Other Non-Profit Organizations. If an a Awardee is covered by 45 CFR Part 2543 it must maintain advance funds in interest-bearing accounts unless: (a) It x. Xx receives less than $120,000 in federal funds per year; (b) ii. The best reasonably available account would not be expected to earn interest in excess of $250 per year on federal cash balances; or (c) iii. The required minimum balance is so high that it would not be feasible within expected federal and non-federal cash resources. Earned interest must be remitted annually to HHS-PMS, Xxxxxxxxx, XX 00000. Awardees may keep up to $250 of interest per year to offset administrative expenses.

Institutions of Higher Education and Other Non-Profit Organizations. If an Awardee is covered by 45 CFR Part 2543 it must maintain advance funds in interest-bearing accounts unless: (a) It receives less than $120,000 in federal funds per year; (b) The best reasonably available account would not be expected to earn interest in excess of $250 per year on federal cash balances; or (c) The required minimum balance is so high that it would not be feasible within expected federal and non-federal cash resources. Earned interest must be remitted annually to HHS-PMS, XxxxxxxxxRockville, XX 00000MD 20852. Awardees may keep up to $250 of interest per year to offset administrative expenses.