Standards Applied. The average daily cash balance of Federal Funds in the program's account reflects the actual activity of each draw from the date of deposit to the date of issuance or clearance, whichever is pertinent.
Standards Applied. Census (Average Daily Balance): The average daily cash balance of Federal Funds in the program's account reflects the actual activity of each draw from the date of deposit to the date of issuance or clearance, whichever is pertinent.
Standards Applied. Statistical Sampling (Pre-Issuance): To measure the time Federal funds are held in a State account prior to being disbursed, the State shall use statistical sampling. The sample shall be randomly selected, and shall be of sufficient size to ensure, at a minimum, a 95% confidence interval no wider than ± 0.3 dollar-weighted days about the estimated mean. For each check in the sample population, the State shall: 1 subtract the deposit date from the issuance date 2 multiply the difference of step 1 by the check amount 3 divide the product of step 2 by the total amount of funds drawn in the sample to determine the dollar-weighted pre- issuance time for that check The State shall then sum the dollar-weighted pre-issuance time for each check to arrive at the total dollar-weighted average pre-issuance time to be used for calculating State interest liabilities.
Standards Applied. The State does not utilize statistical sampling. 100% of all disbursement type transactions and related Federal drawdowns are used to compute the State and Federal interest liabilities.
Standards Applied. The State will use the following method to calculate State interest liabilities on Federal funds:
(a) The State will use the actual activity method to calculate State interest liabilities. With Federal-State matching programs, interest will be calculated on the Federal share of the disbursement.
(b) To determine the total time Federal funds are held, the State will separately measure two time periods: (1) Federal funds deposit in State account to warrants issuance, and (2) warrants issuance to redemption.
Standards Applied. The clearance of State funds shall be determined by the appropriate clearance pattern, depending on the funding technique.
Standards Applied. For interest calculation the average daily balance of Federal funds in the program's account reflects balances created from the date of deposit to the date funds are paid out when procedures listed in section 6 are not applied and/or when the preissuance funding technique is applied. The State interest liability shall begin on the day Federal funds are deposited as stated in section 6.3 and the State does not pay out as stated in section 6.3.
Standards Applied. The state does not use sampling techniques. Calculations are based on all documents and transactions.
Standards Applied. To measure the time Federal funds are held in a State account prior to being disbursed (pre- issuance time), the State shall subtract each deposit date of Federal funds from each warrant issuance date. The State shall use the actual activity of deposits and warrants to make this calculation.
Standards Applied. It is the State's intent to analyze 100% of the program warrants and EFT transactions for a three consecutive month period to develop average clearance patterns for the interest calculation. The dollar-weighted average day of clearance shall be determined as specified in Section 7.6 of this Agreement.
