04 NCAC 01K .0402          METHOD OF PAYMENT

Recipients shall receive payments based on requisitions submitted for immediate disbursing needs as approved by the Department.  No funds shall be kept on deposit for more than three banking days by the local government grantee.  If for any reason the grant costs for which funds were requisitioned cannot be paid as intended within three days, the local government finance officer shall return the unused funds to the Commerce Finance Center.

History Note:        Authority G.S. 143B-431; 24 C.F.R. 570.489; 42 U.S.C.A. 5304(g);

Temporary Adoption Effective July 20, 1992 for a period of 180 days or until the permanent rule becomes effective, whichever is sooner;

Eff. December 1, 1992;

Amended Eff. August 1, 2000;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 6, 2016.