Grants 101 - Segregated Account
Many times when money is received from the Commonwealth of Pennsylvania
it will need to be put in a separate account. Many people make the mistake of co-mingling the funds with
other funds. It is necessary to
open up a separate account and deposit the money so it can be fully accounted
for, both principal and interest.
The reason that the Commonwealth wants the money in a
separate account it because there will be a need to return the interest. If the funds are comingled it would be
difficult to account for the interest.
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