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Rounding of Annual Award Amounts
In award years when a reduction factor is included in the MAP formula (either at start-up or at the time of recompute), it may be necessary for annual MAP award amounts to be rounded. When this occurs, the regular annual award amount is calculated using the MAP formula, then is reduced by the appropriate percentage and rounded to the nearest dollar (rounding upward from .50 and downward from .49).
Example:
Step 1) Calculate regular annual award amount = $4,968.00
Step 2) Apply reduction factor (example of 10% reduction factor) = $4,968.00 x 0.90 = $4,471.20
Step 3) Round to nearest whole dollar = round $4,471.20 to $4,471.00
Reduced annual award amount = $4,471.00
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