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<br />OOJ213 <br /> <br />2 <br /> <br />imposed upon the States as a condition to receiving Federal <br />grants. The implementing instructions of these policies <br />were initially issued in Circular A-96. These instructions <br />are modified herein in the interest of achieving further <br />consistency in implementing that Act. <br /> <br />4. Applicable provisions of the Interqovernmental Cooperation <br />Act of 1968. Federal agencies shall continue to follow the <br />provisions of the Act, quoted below: <br /> <br />"DEPOSIT OF GRANTS-IN-AID <br /> <br />"Sec. 202. No grant-in-aid to a State shall be <br />required by Federal law or administrative regulation <br />to be deposited in a separate bank account apart from <br />other funds administered by the State. All Federal <br />grant-in-aid funds made available to the States shall <br />be properly accounted for as Federal funds in the <br />accounts of the State. In each case the State agency <br />concerned shall render regular authenticated reports <br />to the appropriate Federal agency covering the status <br />and the application of the funds, the liabilities and <br />obligations on hand, and such other facts as may be <br />required by said Federal agency. The head of the <br />Federal agency and the Comptroller General of the <br />United States or any of their duly authorized repre- <br />sentatives shall have access for the purpose of audit <br />and examination to any books, documents, papers, and <br />records that are pertinent to the grant-in-aid received <br />by the States. <br /> <br />"SCHEDULING OF FEDERAL TRANSFERS TO THE STATES <br /> <br />"Sec. 203. Heads of Federal departments and agencies <br />responsible for administering grant-in-aid programs shall <br />schedule the transfer of grant-in-aid funds consistent with <br />program purposes and applicable Treasury regulations, so <br />as to minimize the time elapsing between the transfer of <br />such funds from the United States Treasury and the disburse- <br />ment thereof by a State, whether such disbursement occurs <br />prior to or subsequent to such transfer of funds, or sub- <br />sequent to such transfer of funds. /si~7 States shall not <br />be held accountable for interest earned on grant-in-aid <br />funds, pending their disbursement for program purposes." <br /> <br />(No. A-I02) <br />