State Interest Liabilities. 8.6.1 The State shall be liable for interest on Federal funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes.
8.6.2 The State shall use the following method to calculate State interest liabilities on Federal funds:
State Interest Liabilities. 8.6.1 The State shall be liable for interest on Federal funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes.
8.6.2 The State shall use the following method to calculate State interest liabilities on Federal funds:
8.6.2.1 Measuring Time Funds Are Held Deposit to Issuance; Issuance to Clearance: To determine the total time Federal funds are held, the State shall separately measure two time periods: (1) the date Federal funds are deposited to the date checks are issued; and (2) the date checks are issued to the date funds are debited from the State's account.
State Interest Liabilities. 10.3.1 The State shall be liable for interest on Federal Funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes.
10.3.2 The State shall use the following method and sources of data to calculate State interest liabilities on Federal Funds except for the WIC program, the Federal Employees Unemployment Compensation (FECA) and the Extended Unemployment Compensation programs (EUCA):
10.3.3 Measuring Time Funds are Held Deposit to Issuance; Issuance to Clearance: To determine the total time Federal money is held, the State shall separately measure two time periods: (1) the date Federal funds are credited to the date checks are issued, and (2) the date checks are issued to the date funds are debited from the State's account.
State Interest Liabilities. 8.6.1 The State shall be liable for interest on federal funds from the date federal funds are credited to a State account until the date those funds are paid out for program purposes.
8.6.2 With regard to the post issuance funding technique, there are special interest provisions that apply to the particular program in question (see Section 8.3).
8.6.3 In instance where funds are not drawn in accordance with the interest neutral provisions outlined in Section 6.2 (actual clearance [ZBA] - same day payment; estimated clearance; average clearance; composite clearance; and actual and adjusted estimate), interest shall be calculated as described in Section 8.6.5.
8.6.4 The State interest liability on each payment shall be based on the difference in whole days between when federal funds are credited to a State account and when it was either expended for program purposes or offset against a subsequent draw of federal funds.
8.6.5 The State's interest liability for each program shall be calculated by applying the following formula:
State Interest Liabilities. The State shall be liable for interest on Federal funds from the date Federal funds are credited to a State account until the date those funds are paid out for program purposes.
