§ 205.2 What definitions apply to this part?
For purposes of this part:
Administrative costs means expenses incurred by a State associated with managing a Federal assistance program. This term includes indirect costs.
Auditable means records must be retained to allow for calculations outlined in the Treasury-State agreements to be reviewed and replicated for compliance purposes. States must maintain these records to be readily available, fully documented, and verifiable.
Authorized State official means a person with the authority under the laws of a State to make commitments on behalf of the State for the purposes of this part, or that person's official designee as certified in writing.
Business day means a day when Federal Reserve Banks are open.
Catalog of Federal Domestic Assistance (CFDA) means the government-wide list of Federal assistance programs, projects, services, and activities which provide assistance or benefits to the American public. The listing includes financial and non-financial Federal assistance programs administered by agencies of the Federal government.
Clearance pattern means a projection showing the daily amount subtracted from a State's bank account each day after the State makes a disbursement. For example, a State mailing out benefit checks may project that the percentage of checks cashed each day will be 0% for the first day, 10% for the second day, 80% on the third day, and 10% on the fourth day following issuance. Clearance patterns are used to schedule the transfer of funds with various funding techniques and to support interest calculations.
Compensating balance means funds maintained in State bank accounts and/or State Treasurer bank accounts to offset the costs of bank services.
Current project cost means a cost for which the State has recorded a liability on or after the day that the State last requested funds for the project.
Day means a calendar day unless otherwise specified.
Default procedures means efficient cash management practices that we prescribe for Federal funds transfers to a State if a Treasury-State agreement is not in place.