- Cash received from FTA must be disbursed within three business days
- If not disbursed within three days, cash becomes excess funds and must be returned to FTA
Exceptions:
- if drawing early by mistake and funds will be disbursed within 7 calendar days; or
- if < $10,000 will be disbursed within 30 calendar days then funds may be retained, but interest accrues beginning with day four
2005 - Federal Transit Administration