Iowa Admin. Code r. 761-921.8

Current through Register Vol. 47, No.14, January 8, 2025

Rule 761-921.8 - Income derived from interest-bearing accounts and investments

(1) Any transit system that receives advance allocation payments shall deposit these funds in a separately identified interest-bearing account until such time as they are expended on costs incurred by the transit system.

(2) All income derived from interest-bearing accounts and investments shall be credited to the transit system and its transit accounts as a nonoperating or nontransportation revenue.