Glossary of Government Grant Terms
All
| Term | Definition |
|---|---|
| ACCRUED EXPENDITURES |
The sum of the charges acquired by a grant recipient during a specific period of time. These expenses include any obligations which require the provision of funds such as: goods and other physical property you have received; and services performed by employees, contractors, other government accounts, vendors, carriers, lessors, and other payees. |
| ACCRUED INCOME |
The combination of earnings and debts owed to a grant recipient during a specific time period. Earnings include payments received for services performed by the grant recipient, as well as for goods and other physical property delivered to purchasers. Debts include amounts owed to the grant recipient for which there are no current services or performance required of the debtor. |
| ACQUISITION COST OF EQUIPMENT |
The total invoice price for each piece of equipment, including the cost of modifications, attachments, accessories, or secondary devices necessary to make the equipment usable for its intended purpose. Other charges, such as the cost of installations, shipping, taxes, duty, or protective insurance, can be included or excluded from the equipment acquisition cost based on the recipients' normal accounting practices. |
| APPLICATION PACKAGE |
A group of specific forms and documents for a specific funding opportunity which are used to apply for a grant. |
| APPLICATION PACKAGE TEMPLATE |
One or more forms and documents which can be reused for multiple opportunity-specific application packages. |
| AUTHORIZED ORGANIZATION REPRESENTATIVE ( |
An AOR submits a grant application on behalf of a company, organization, institution, or government. AORs have the authority to sign applications and the required certifications and/or assurances that are necessary to complete the application process. |
| AWARD |
Financial assistance that provides support or stimulation to accomplish a public purpose. Awards include grants and other agreements in the form of money or property in lieu of money, by the Federal Government to an eligible recipient. The term does not include: technical assistance, which provides services instead of money; other assistance in the form of loans, loan guarantees, interest subsidies, or insurance; direct payments of any kind to individuals; and, contracts which are required to be entered into and administered under Federal procurement laws and regulations. |
| CASH CONTRIBUTIONS |
A recipients cash budget, including the budget of money contributed to the recipient by third parties. |
| CATALOG OF FEDERAL DOMESTIC ASSISTANCE ( |
An online database of all Federal programs available to state and local governments, federally-recognized Indian tribal governments, territories and possessions of the United States, domestic public, quasi-public, and private profit and nonprofit organizations and institutions, specialized groups, and individuals |
| CLOSEOUT |
Process by which the awarding agency determines that all applicable administrative actions and all required work has been completed by the recipient and the awarding agency for the award.. |
| COMPETITION ID |
An ID selected by the grant agency which allows distinction of applications with the same funding opportunity number to be assigned unique identifiers |
| CONTRACT |
A procurement contract awarded to a successful applicant. This is a contract which the applicant enters into with the Federal government on the premise of providing a good or service directly to the agency |
| COOPERATIVE AGREEMENT |
Financial assistance award which requires that the recipient works in cooperation with the awarding agency to carry out the project. |
| COST SHARING OR MATCHING |
An agreement between the recipient and awarding agency to divide the costs associated with the project. This means the recipient is required to locate additional sources of funding to match or share the costs. This could be either another government agency's funding programs, or a private investor. |
| CURRENT ACCOUNTING PERIOD |
The period of time the recipient chooses for purposes of financial statements and audits. |
