Common use of Interest-Bearing Accounts Clause in Contracts

Interest-Bearing Accounts. ‌ In accordance with 2 CFR Part 200 (Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards), the Subgrantee shall maintain advances of federal funds in interest bearing accounts, unless the following apply: 1. The Subgrantee receives less than $250,000 in federal awards per year. 2. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on federal cash balances. 3. The depository would require an average or minimum balance so high that it would not be feasible within the expected federal and non-federal cash resources. Subgrantees not maintaining advances of federal funds in interest bearing accounts because of one or more of the conditions listed above, shall have available for Grantee inspection, documentation supporting the Subgrantee's decision to not maintain advances of federal funds in interest bearing accounts. In accordance 2 CFR Part 200 (Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards), any interest earned on advances of federal funds must be remitted annually to the U.S. Department of Health and Human Services. For further information, please refer to xxxxx://xxx.xxx.xxx/grant- recipients/returning-funds-interest.html. Interest amounts up to $500 per year, based on the Subgrantee's fiscal year, may be retained by the Subgrantee for administrative expenses. Subgrantees with electronic fund transfer (EFT) capabilities should use the electronic medium to remit interest.

Interest-Bearing Accounts. ‌ In accordance with 2 45 CFR Part 200 75 (Uniform Administrative Requirements, Cost Principles Principles, and Audit Requirements for Federal HHS Awards), the Subgrantee shall maintain advances of federal funds in interest bearing accounts, unless the following apply: 1. The Subgrantee receives less than $250,000 120,000 in federal awards per year. 2. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on federal cash balances. 3. The depository would require an average or minimum balance so high that it would not be feasible within the expected federal and non-federal cash resources. Subgrantees not maintaining advances of federal funds in interest bearing accounts because of one or more of the conditions listed above, shall have available for Grantee inspection, documentation supporting the Subgrantee's decision to not maintain advances of federal funds in interest bearing accounts. In accordance 2 with 45 CFR Part 200 75 (Uniform Administrative Requirements, Cost Principles Principles, and Audit Requirements for Federal HHS Awards), any interest earned on advances of federal funds must be remitted annually to the U.S. Department of Health and Human Services. Services For further information, please refer to xxxxx://xxx.xxx.xxx/grant- recipients/returning-funds-interest.htmlxxxxx://xxx.xxx.xxx/grant-recipients/returning-funds-interest.html. Interest amounts up to $500 per year, based on the Subgrantee's fiscal year, may be retained by the Subgrantee for administrative expenses. Subgrantees with electronic fund transfer (EFT) capabilities should use the electronic medium to remit interest.

Interest-Bearing Accounts. ‌ In accordance with 2 CFR Part 200 (Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards), the Subgrantee shall maintain advances of federal funds in interest bearing accounts, unless the following apply: 1. The Subgrantee receives less than $250,000 in federal awards per year. 2. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on federal cash balances. 3. The depository would require an average or minimum balance so high that it would not be feasible within the expected federal and non-federal cash resources. Subgrantees not maintaining advances of federal funds in interest bearing accounts because of one or more of the conditions listed above, shall have available for Grantee inspection, documentation supporting the Subgrantee's decision to not maintain advances of federal funds in interest bearing accounts. In accordance 2 CFR Part 200 (Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards), any interest earned on advances of federal funds must be remitted annually to the U.S. Department of Health and Human Services, Payment Management System, Rockville, MD 20852. For further information, please refer to xxxxx://xxx.xxx.xxx/grant- recipients/returning-funds-interest.htmlxxxxx://xxx.xxx.xxx/grant-recipients/returning-funds-interest.html. Interest amounts up to $500 per year, based on the Subgrantee's fiscal year, may be retained by the Subgrantee for administrative expenses. Subgrantees with electronic fund transfer (EFT) capabilities should use the electronic medium to remit interest.

Interest-Bearing Accounts. ‌ In accordance with 2 45 CFR Part 200 75 (Uniform Administrative Requirements, Cost Principles Principles, and Audit Requirements for Federal HHS Awards), the Subgrantee shall maintain advances of federal funds in interest bearing accounts, unless the following apply: 1. The Subgrantee receives less than $250,000 150,000 in federal awards per year. 2. The best reasonably available interest-bearing account would not be expected to earn interest in excess of $500 per year on federal cash balances. 3. The depository would require an average or minimum balance so high that it would not be feasible within the expected federal and non-federal cash resources. Subgrantees not maintaining advances of federal funds in interest bearing accounts because of one or more of the conditions listed above, shall have available for Grantee inspection, documentation supporting the Subgrantee's decision to not maintain advances of federal funds in interest bearing accounts. In accordance 2 with 45 CFR Part 200 75 (Uniform Administrative Requirements, Cost Principles Principles, and Audit Requirements for Federal HHS Awards), any interest earned on advances of federal funds must be remitted annually to the U.S. Department of Health and Human Services. Services For further information, please refer to xxxxx://xxx.xxx.xxx/grant- recipients/returning-funds-interest.htmlxxxxx://xxx.xxx.xxx/grant-recipients/returning-funds-interest.html. Interest amounts up to $500 per year, based on the Subgrantee's fiscal year, may be retained by the Subgrantee for administrative expenses. Subgrantees with electronic fund transfer (EFT) capabilities should use the electronic medium to remit interest.