Hello Joy,

Per OMB Circular A-110, any interest earned greater than $250 on federal
advance payments must be remitted back to the federal government on an
annual basis.  Institutions can keep $250 as an administrative expense.

Please note that the $250 threshold is for the institution as a whole and is not
a per grant threshold so someone at your institution needs to track federal
interest on an aggregate level.

See Section 22(k)-(l) of A-110 for more details.

Jennifer

Jennifer Lech
Senior Grants Officer/eRA Systems Specialist
Whitehead Institute for Biomedical Research
5 Cambridge Center, 7th Floor
Cambridge, MA 02142
Phone:  (617) 258-5220
Fax:  (617) 258-6184
E-mail:  xxxxxx@wi.mit.edu

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