An Official Website of the Commonwealth of Kentucky
The Cash Management Improvement Act of 1990 provides rules and procedures for the efficient transfer of federal funds between federal agencies and the state. The main intent of CMIA is for states to draw in federal funds exactly when they are needed and for federal programs to be "interest-neutral". The main objectives of CMIA are:
CMIA regulations require each state to enter into a Treasury-State Agreement (TSA) with the US Treasury and to submit an annual interest report. The TSA is a means of quantifying drawdown procedures and interest calculation techniques for Kentucky’s major programs. These procedures require the state to calculate federal and state interest liabilities at the U.S. Treasury bill rate for covered programs and to report annually the liabilities to the federal government. This annual report is compiled in December. Any interest owed by the state for the preceding fiscal year is due to the federal government no later than March 31st of the following fiscal year.
Annual Closing Package / Fixed Assets / Legislative Claims:
Federal Offsets/Debt Accounting:Rick Harris502-564-7753
SEFA/Federal Audit Findings:
SWCAP / CMIA: