Cmia Agreements

. Prior to the passage of the CMIA, many states often deployed federal funds before they were spent, resulting in a decline in federal government interest revenues. Conversely, states often did not have federal funds, which led states to set aside their own resources for federal purposes and lose interest income. CMIA`s intention is for the programmes to be as neutral as possible on interest rates, with the result that neither the federal nor the governments of the Länder gain or lose interest. Major Federal Assistance Program – Grant programs that exceed the dollar threshold set by OSRAP based on the thresholds set in 31 CFR 205 or using the OMB Circular A-133. Payment – This term means debiting a state bank account for payment purposes. This involves not only the issuance of a cheque, but also the effective clearing of the state`s bank account. Fiscal year – Unless otherwise specified, the fiscal year of a State ending in the calendar year indicated. Program – A program is the range of activities that are included and classified in the Federal Domestic Assistance Number (CFDA#) catalog. It may consist of one or more grants. . .

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