HomeMy WebLinkAboutExhibit 20ATTACHMENT E
ADVANCE PAYMENT - INTEREST EARNED MEMORANDUM
WHEN REPORTING OR REMITTING, PLEASE RETURN A COPY OF THIS REQUEST
TO:
FROM: Darinda McLaughlin, Finance and Accounting Director
Bureau of Finance and Accounting, MS 78
DATE:
SUBJECT: Advance Payment - Contract No.
Interest Due to DEP:
Pursuant to Section 216.181(16), Florida Statutes, advance payments may be required to be deposited into an interest bearing account
until all funds have been depleted. In order to update the status on the unused portion of the advanced funds and/or interest due,
advance approval of the Chief Financial Officer, and the terms of the above referenced contract, the following information is needed
for our records no later than
Initial advance funding disbursed
1. Advanced funds principle expended or returned by contractor covering period of
to
2. Balance advance funding principle available $
3. ,rInterest earned on advanced funds covering period of to $
4. •tAmount of interest paid to DEP as of $
5. Interest balance due to DEP as of
(Project Manager's Signature) (Date)
Special Instructions: If the grant/contract specifies that any accrued interest, which 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.
In all cases the line 1 and 2 reported amounts are on a cash basis for the advance payment principle. 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. LP6056, Attachment E, Page 1 of 1