CDBG Entitlement FAQ
Q

Is there a deadline date for returning interest earned?

Date Published: May 2015

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A

If your account earned interest on advances of CDBG funds, all but $500 for eligible administrative costs must be remitted to the U.S. Treasury promptly, but not less than quarterly, per 24 CFR 85.21(i) / [2 CFR 200.305(b)(9)]. In addition, interest earned on revolving fund balances must be remitted to U.S. Treasury no less than annually as stated as 24 CFR 570.500(b).


Tags: CDBG Entitlement Program Cost Reasonableness

FAQ ID:

2185