01.09.05 - Interest Accrued on Federal Funds

Interest Accrued on Federal Funds Policy Number and Last Update


  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).