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Grant Refunds All project funds must be paid-out by the ending date of the project agreement. In most cases the ending date corresponds to the end of the fiscal year for the library. The fiscal year ends on June 30 for state institutions and agencies and on September 30 for most other libraries. Any grant funds not paid-out by September 30 must be refunded. Payment must be submitted along with the library's annual report. Refunds received by the State and Federal Grants Office are returned to the Institute of Museum and Library Services. |
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Interest Refunds Payments are made in such a manner as to minimize the time between drawdown and disbursement. If any interest is earned on grant funds, the grant agreement, LSTA regulations and Florida Statutes require it be refunded. A reminder letter is sent for each active project at the end of each quarter. Any interest funds earned during the quarter should be returned in a check made payable to the Department of State and sent to the State and Federal Grants Office. Each project and the amount of interest earned should be identified on the check. Space is also provided in the Annual Report for the reporting of the total or cumulative amount of interest earned on grant funds during the project. If the total amount of interest earned reported on the annual report does not agree with the amount of interest funds already submitted, any additional refund should be submitted to the State and Federal Grants Office. |