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B-192459 1 (1980-07-01)

handle is hein.gao/gaobadijo0001 and id is 1 raw text is: S THE COMPTROLLER GENERAL DECISION OF THE UNITED STATES WASHINGTON. D.C. 20548 FILE: B-192459 DATE: July.1, 1980 MATTER OF: DIGEST: Community Services Administration - 1 7 Interest on Grant Funds Interest earned by trustee holding CSA grant funds as part of complex construc- tion arrangements does not create Govern- ment right to interest since transfer of grant funds by Hahnemann Hospital to trustee under facts presented amounted to application of funds to grant purposes. Interest earned on advance of grant funds to grantee hospital prior to transfer of funds to trustee must be paid over to Government since retention of interest prior to grant application is not autho- rized by law. The Director of the Community Services Administra- tion (CSA) has requested our decision concerning whether it must recover interest earned by Hahnemann Hospital of Philadelphia (Hahnemann) on certain CSA grant funds awarded the hospital in 1975 to assist in the construc- tion of a new hospital facility. As discussed in greater detail below, we have concluded that the interest earned by Hahnemann on grant funds prior to the application of these funds to grant purposes must be recovered, but that interest earned after the grant funds were expended and applied to grant purposes is to be retained in the grant program under the terms of the grant agreement. CSA has provided us with the following facts: On September 29, 1975, CSA made a $14.5 million grant to Hahnemann Hospital to ,complete construction of a new medical facility. The grant was made from the Agency's 1975 supplemental appropriation pursuant to a specific Congressional - 1 - /qzo- -

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