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ATTACHMENT F <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 <br />bearing account until all funds have been depleted. In order to update the status on the unused portion of the advanced <br />funds and/or interest due, advance approval of the Chief Financial Officer, and the terms of the above referenced <br />contract, the following information is needed for our records no later than <br />Initial advance funding disbursed <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 <br />advance payment(s), will not be paid to DEP until after termination of the grant/contract, the advance fund recipient shall <br />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 <br />fiscal year quarter shall include items 1, 2, 3, 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 <br />receivables, 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 <br />through 5 for each 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 <br />(850) 245-2452 in the Contracts Disbursement Section. <br />DEP Agreement No. LP31010, Attachment F, Page 1 of 1 <br />