Policy 3155 – Payments from Federal Awards/Cash Management

Payments from Federal awards will minimize the time elapsing between transfer of funds from
the Federal pass through entity and the disbursement of funds by the District to vendor recipients
regardless of whether the payment is made by electronic transfer, or issuance/redemption of
checks, warrants or payments. The District will make timely payment to contractors consistent
with the terms of each specific contact. Advance payments of Federal funds will be deposited
and maintained in insured interest-bearing accounts. Interest amounts of up to $500.00 per
school year will be maintained by the District to be utilized for administrative purposes. The
Districts cash management of Federal funds will be consistent with requirements §200.305 of the
Code of Federal Regulations.