PAP.11.2.100 Award Payments

(a) Drawdowns will be done according to grant guidelines provided by the funding agency.

(b) While some grants may be drawn down in advance, many will be drawn down on a reimbursement basis.

(c) If a federal grant is drawn down in advance, the Tribe shall:

(1) Need to minimize time between funds received from the U.S. Treasury and disbursements made to vendors, and

(2) If kept in an interest-bearing account pursuant to 2 CFR§200.30S(b)(8).

(d) Interest earned amounts up to $500.00 per year may be retained by the Tribe for administrative expenses. 2 CFR §200.305(b)(9)

(e) Interest exceeding $500.00 per year must be remitted annually to the federal government. Pursuant to 2 CFR §200.305(b)(9).