The Unemployment Trust Fund. 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: At the end of each State fiscal year, based on statements provided by the State's contractor bank, the State shall determine the actual interest earnings and the related banking costs of its State Benefit Payment Account for the State fiscal year. If actual interest earnings exceed the banking costs attributable to such funds, the State will remit the difference to the Federal government as a State interest liability. If actual interest earnings are less than the related banking costs, the State will owe no State liability.
Appears in 6 contracts
Samples: Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement, Cash Management Improvement Act Agreement
