Other Payment Schedules. For all other transactions where the State pays out its funds for program purposes prior to receiving Federal funds, the Federal interest liability shall be based on the difference in whole days between the date the related Federal funds should have been credited to the State as specified in Section 6 of this Agreement and the date they were actually credited to a State account. With Federal-State matching programs, interest shall be calculated on the Federal percentage of the disbursement. The State draw process is validated by the spreadsheet calculations prepared and filed with the Annual report.
Appears in 8 contracts
Samples: Management Improvement Act Agreement, Management Improvement Act Agreement, Management Improvement Act Agreement
Other Payment Schedules. For all other transactions where the State pays out its own funds for program purposes prior to receiving Federal funds, the Federal interest liability shall be based on the difference in whole days between the date the related Federal funds should have been credited to the State as specified in Section 6 of this Agreement and the date they were actually credited to a State account. With Federal-State matching programs, interest shall be calculated on the Federal percentage of the disbursement. The State draw process is validated by the spreadsheet calculations prepared and filed with the Annual report.
Appears in 6 contracts
Samples: Management Improvement Act Agreement, Management Improvement Act Agreement, Management Improvement Act Agreement
