FIACCT 14-06_19 Grant Accounting – CMIA – Annual Report to the U.S. Treasury

Effective: July 1, 1994
Revised: 

Purpose

This policy describes the annual report the State must submit to the Financial Management Service of the U.S. Treasury. This report lists the interest liabilities of the State and the federal government incurred on funds transferred between the State and federal agencies during the fiscal year for major federal assistance programs.

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Policy

A. The Division of Finance will submit an annual report to the Financial Management Service of the U.S. Treasury by December 31, accounting for the interest liabilities under the Cash Management Improvement Act for the State’s most recently completed fiscal year.

B. The format of the annual report will be prescribed by the Financial Management Service. All items reported must be detailed at the federal program level, in other words, by CFDA number. It is then further subdivided by state interest liabilities and federal interest liabilities. For detailed information on the minimum required items which need to be presented in this report, see the CMIA – Annual Report to FMS policy in this section of this manual.

C. Utah must submit its annual report both in hard copy and either on computer diskette or by other electronic means as prescribed by the Financial Management Service.

D. The Division of Finance, for all state entities, will submit as a part of the State’s annual report, a claim for reimbursement of the direct costs of implementing the Cash Management Improvement Act, as described in the CMIA – Reimbursement of Direct Costs of Implementation policy in this section of this manual.

E. The Director of the Division of Finance shall certify the accuracy of Utah’s annual report, as well as the accuracy of the State’s direct costs claim.