4. If the analysis resulted in additional federal programs that were not MMB April included in the prior year agreement, MMB Financial Reporting Financial requests information on clearance patterns, components, etc. from Reporting the applicable state agencies. After the data is reviewed by an and State independent person, agencies submit information to MMB Agencies Financial Reporting. Every five years, MMB Financial Reporting requests information from state agencies for the recertification of clearance patterns as required by 31 CFR Part 205. After the data is reviewed by an independent person, agencies submit information to MMB Financial Reporting. 5. MMB Financial Reporting distributes a draft TSA to the applicable MMB April state agencies. State agencies review the draft and provide Financial feedback to MMB Financial Reporting. Reporting and State Agencies 6. After review and approval by MMB Assistant Commissioner - MMB April Accounting Services or designee, MMB Financial Reporting finalizes Financial the TSA effective the next state fiscal year and submits it to the U.S. Reporting Department of Treasury. MMB Financial Reporting provides copies to applicable state agencies. 7. MMB Financial Reporting obtains from the U.S. Department of MMB September Treasury the annualized interest rate for the recently-completed Financial state fiscal year which is used to calculate interest liabilities for Reporting those programs included in the applicable TSA. 8. MMB Financial Reporting requests from state agencies the MMB November information noted in step 1 and provides the annualized interest Financial rate noted in step 7. The requested information covers the Reporting recently-completed state fiscal year. 9. Agencies calculate the interest owed by either the state or the State November federal government for the recently completed state fiscal year. Agencies After the data is reviewed by an independent person, agencies provide this information to MMB Financial Reporting. A state liability occurs when federal funds are not requested in accordance with the terms of the TSA, and a federal liability occurs when federal funds are not received in accordance with the terms of the TSA. 10. Agencies determine the cost of calculating the interest as noted in State November step 9. After the data is reviewed by an independent person, Agencies agencies provide this information to MMB Financial Reporting.
4. If the analysis resulted in additional federal programs that were not included in the prior year agreement, MMB Financial Reporting requests information on clearance patterns, components, etc. from the applicable state agencies. After the data is reviewed by an independent person, agencies submit information to MMB Financial Reporting. Every five years, MMB Financial Reporting requests information from state agencies for the recertification of clearance patterns as required by 31 CFR Part 205. After the data is reviewed by an independent person, agencies submit information to MMB Financial Reporting. MMB Financial Reporting and State Agencies April 5. MMB Financial Reporting distributes a draft TSA to the applicable state agencies. State agencies review the draft and provide feedback to MMB Financial Reporting. MMB Financial Reporting and State Agencies April 6. After review and approval by MMB Assistant Commissioner - Accounting Services or designee, MMB Financial Reporting finalizes the TSA effective the next state fiscal year and submits it to the U.S. Department of Treasury. MMB Financial Reporting provides copies to applicable state agencies. MMB Financial Reporting April 7. MMB Financial Reporting obtains from the U.S. Department of Treasury the annualized interest rate for the recently-completed state fiscal year which is used to calculate interest liabilities for those programs included in the applicable TSA. MMB Financial Reporting September 8. MMB Financial Reporting requests from state agencies the information noted in step 1 and provides the annualized interest rate noted in step 7. The requested information covers the recently-completed state fiscal year. MMB Financial Reporting November 9. Agencies calculate the interest owed by either the state or the federal government for the recently completed state fiscal year. After the data is reviewed by an independent person, agencies provide this information to MMB Financial Reporting. A state liability occurs when federal funds are not requested in accordance with the terms of the TSA, and a federal liability occurs when federal funds are not received in accordance with the terms of the TSA. State Agencies November 10. Agencies determine the cost of calculating the interest as noted in step 9. After the data is reviewed by an independent person, agencies provide this information to MMB Financial Reporting. State Agencies November
0402-01-01-federal-cash-management-procedure.docx