Examples of State interest in a sentence
The State shall use the following formula to calculate interest on each component cash flow: I = [A x i x (CT - PIT)] / 365 "I" represents the State interest liability for a major object or component cash flow.
Payments received after the SSI/SSP Transfer Date: A State interest liability will accrue from (1) the SSI/SSP Transfer Date until (2) the day State funds are credited to the SSA.
To the extent the State payment (including estimated cumulative balance) is less than actual outlays, a State interest liability will be calculated.
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.
The Federal Government shall use the following methods to calculate and document Federal and State interest liabilities for SSI.
SSA shall calculate Federal and State interest liabilities on the variance between (1) the amount of the monthly State payment, which is an estimate, and (2) the actual monthly outlays for program purposes made by the SSA on behalf of the State.