Interest Accrued on Federal Funds Policy Number and Last Update
(01.09.05/01-2011)

Procedures

  1. Apply for payment monthly throughout the year, to cover only expenses of the next month.
  2. Maintain program funds in an interest-bearing account.
  3. Return interest earned quarterly to:

Harry Bradford, Acting Director
Division of Payment Management
P.O. Box 6021
Rockville, MD 20852

Indicate that the reimbursement is interest on Federal funds.

4. See 45 CFR Part 92.21(i).