2013-222 - Laserfiche WebLink

Home Browse Search

ATTACHMENT C ADVANCE PAYMENT - INTEREST EARNED MEMORANDUM "SAMPLE DOCUMENT" TO : Dena VanLandingham, Beach Management Funding Assistance Program , MS#3511 FROM : Lydia Louis, Finance and Accounting Director, Bureau of Finance and Accounting, MS#78 DATE : SUBJECT: Advance Payment — DEP Agreement No . : XXXX BECP Project No . : XXXX Interest Due to DEP: (Quarterly) Pursuant to Section 216 . 181 ( 16)(b), Florida Statutes , and paragraph 11 of the AGREEMENT, advance payments must be deposited into an interest bearing account until all funds have been depleted . In order to comply with this statute, advance approval of the State Chief Financial Officer, and the terms of the above referenced contract, the following information is needed for our records no later twenty (20) days following each calendar quarter (i.e. January 20, April 20, July 20, and October 20.) Advance funding disbursed (date ofdisbursement) $ 1 . Advanced funds expended by contractor covering period of (agreement execution) to (end ofmost recent calendargtr) $ 2 . Balance advance funding principal available $ 3 . Interest earned on advanced funds covering period of (agreement execution) to (end ofmost recent calendar qtr) $ 4 . Amount of interest paid to DEP as of (end ofmost recent calendar gtr) $ 5 . Balance Due to DEP as of (end ofmost recent calendar qtr) $ (Project Manager' s Signature) (Date) Special Instructions: If the grant/contract specifies that any accrued interest that is based upon a grant/contract advance payment(s) will not be paid to DEP until after termination of the grant/contract, the advance fund recipient shall complete report items 1 and 2 only for the first three quarters of the state's fiscal year. The report for the state 's fourth fiscal year quarter shall include items 1 , 2, 3, 4, and 5. Items 3, 4, and 5 will be the life to date interest. If the contract states that no interest is due, quarterly reports of unexpended advances are required, lines 1 and 2 . The lines 1 and 2 reported amounts are on a cash basis for the advance payment principal. Do not include receivables, payables, or interest previously paid to DEP. If the grant/contract requires quarterly accrued interest payments to DEP, the fund recipient must complete items 1 through 5 for each quarterly report. Payments of interest due to DEP shall be paid within the specifications of the contract/grant, Thank you for your cooperation in providing the above information. If you have questions, please contact Lydia Louis (850) 245-2452 in the Contracts Disbursement Section. DEP Agreement No . 14IR2, Attachment C , Page 1 of 1