Refund Liabilities. 8.4.1 The State shall be liable for interest on refunds from the date the refund is credited to a State account until the date the refund is debited from the State account for program purposes. The State shall apply a $50,000 refund transaction threshold below which the State shall not incur or calculate interest liabilities on refunds. A transaction is defined as a single deposit. 8.4.2 For each refund, the State shall maintain information identifying: (1) date a refund is credited to a State account (2) date of the subsequent deposit of Federal funds against which the refund is offset
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Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
Refund Liabilities. 8.4.1 The State shall be liable for interest on refunds from the date the refund is credited to a State account until the date the refund is debited from the State account for program purposes. The State shall apply a $50,000 refund transaction threshold below which the State shall not incur or calculate interest liabilities on refunds. A transaction is defined as a single deposit.SEE Amendment #1
8.4.2 For each refund, the State shall maintain information identifying:
(1) the date a refund is credited to a State account account;
(2) the date of the subsequent deposit of Federal federal funds against which the refund is offset; and
(3) the amount of the refund.
8.4.3 The State shall use the following methodology to calculate interest liabilities on refunds:
8.4.4 SEE Amendment #1
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