Illinois Administrative Code
Title 89 - SOCIAL SERVICES
Part 1100 - PROGRAMMATIC AND FISCAL REQUIREMENTS FOR ADMINISTERING FUNDS UNDER THE VIOLENT CRIME VICTIMS ASSISTANCE ACT
Subpart C - FISCAL AND MONITORING REQUIREMENTS
Section 1100.218 - Interest

Universal Citation: 89 IL Admin Code ยง 1100.218

Current through Register Vol. 48, No. 38, September 20, 2024

a) Interest income earned from award funds shall be used for expenses that further the provision of direct services to clients, consistent with the provision of service stated in the Grant Agreement. These expenses shall not exceed $500 in any fiscal year. Interest income earned in excess of $500 shall be returned to the Administrator with the next quarterly report.

b) Interest income earned from award funds and expenses paid from that interest income shall be reported on quarterly reports as separate items from other expenses against the grant award.

c) In addition to the allowable expenses listed in Section 1100.210(a), interest income may be used to pay interest expenses on borrowed funds used to purchase land, buildings and/or equipment that are required to provide direct services to clients or are related to client services. The items purchased must actually be in use.

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