Code of Federal Regulations Title 31. Money and Finance–Treasury § 31.205.23 What requirements apply to estimates?

(a) The State must ensure that the estimate reasonably represents the flow of Federal funds under the Federal assistance program or program component to which the estimate applies. The estimate must take into account seasonal or other periodic variations in activity throughout the period for which the Federal funds are available.

(b) As set forth in §§ 205.9 and 205.10, a Treasury–State agreement must include the method a State uses to develop, maintain, and document the estimate.