Section NR 120.22 - Interest earned on grant advances(1) Interest shall be earned and accrued on nonpoint source grant advances. To determine the amount of interest to be credited to the project, the governmental unit shall calculate the interest earned using an average account balance and interest accrued over a period of time or in another equitable manner.(2) Interest money earned shall be used to support eligible activities in ongoing or completed priority watershed projects including, but not limited to, periodic inspections after grant expiration, administrative costs of the project and, under exceptional circumstances, the repair of best management practices; when interest money is used to cost-share best management practices, the combination of interest money and any other cost-share funds from this program may not exceed the cost-share limits described in s. NR 120.18(1).(3) All interest money earned and accrued from a priority watershed project shall be expended by 10 years from the end of the nonpoint source grant period as described in s. NR 120.12(4).(4) On or before April 15 of each year, a governmental unit shall complete and file a report with the department which states the amount of interest money accrued and interest money expended during the previous calendar year. During the planning and implementation phases of watershed projects, these reports may be included with other fiscal reports required under ss. NR 120.23 and 120.25.Wis. Admin. Code Department of Natural Resources NR 120.22
CR 00-028: cr. Register September 2002 No. 561, eff. 10-1-02.