Updated and expanded CMIA regulations were promulgated effective June 24, 2002 which:

• Allowed the State to increase significantly the CMIA program threshold, thereby excluding several smaller programs which previously would have been subject to CMIA; and
• Required the State to notify the U.S. Treasury in writing of a federal program change that should be reflected in the TSA, within 30 days of the date on which the State becomes aware of such change. The notification must include a proposed amendment to the TSA. Amendments may address, but are not limited to:
• Changes in funding techniques (i.e., methods used by the State to draw down federal funds);
• Changes in clearance patterns; and
• Additions or deletions of programs to be covered by a TSA.
• Raised the refund transaction exemption threshold from $10,000 to $50,000. That is, refund transactions of less than $50,000 for a single federal program will no longer be subject to CMIA interest calculations. A “refund transaction” comprises one or more refunds dealt with in a single transaction, such as a deposit into a State bank account.

Guide to Financial Operations

REV. 03/19/2012