Laserfiche WebLink
ATTACHMENT E <br />ADVANCE PAYMENT - INTEREST EARNED MEMORANDUM <br />WHEN REPORTING OR REMITTING, PLEASE RETURN A COPY OF THIS REQUEST <br />TO: <br />FROM: Darinda McLaughlin, Finance and Accounting Director <br />Bureau of Finance and Accounting, MS 78 <br />DATE: <br />SUBJECT: Advance Payment - Contract No. <br />Interest Due to DEP: <br />Pursuant to Section 216.181(16), Florida Statutes, advance payments may be required to be deposited into an interest bearing account <br />until all funds have been depleted. In order to update the status on the unused portion of the advanced funds and/or interest due, <br />advance approval of the Chief Financial Officer, and the terms of the above referenced contract, the following information is needed <br />for our records no later than <br />Initial advance funding disbursed m <br />1. Advanced funds principle expended or returned by contractor covering period of <br />to <br />2. Balance advance funding principle available <br />3. Interest earned on advanced funds covering period of to <br />4. Amount of interest paid to DEP as of <br />5. Interest balance due to DEP as of <br />(Project Manager's Signature) (Date) <br />Special Instructions: If the grant/contract specifies that any accrued interest, which is based upon a grant/contract advance payment(s), <br />will not be paid to DEP until after termination of the grant/contract, the advance fund recipient shall complete report items 1 and 2 <br />only for the fust three quarters of the state's fiscal year. The report for the state's fourth fiscal year quarter shall include items 1, 2, 3, <br />4, and 5. Items 3, 4, and 5 will be the life to date interest <br />If the contract states that no interest is due, quarterly reports of unexpended advances are required, lines 1 and 2. <br />In all cases the line 1 and 2 reported amounts are on a cash basis for the advance payment principle. Do not include receivables, <br />payables, or interest previously paid to DEP. <br />If the grant/contract requires quarterly accrued interest payments to DEP, the fund recipient must complete items 1 through 5 for each <br />quarterly report. <br />Payments of interest due to DEP shall be paid within the specifications of the contract/grant. <br />Thank you for your cooperation in providing the above information. If you have questions, please contact Lydia Louis (850) 245-2452 <br />in the Contracts Disbursement Section. <br />DEP Agreement No. LP6822, Attachment E, Page 1 of 1 <br />