Grants Terminology
- ACH
- Automated Clearing House (utilized by Treasury Department to wire payments).
- Cooperative Agreement
- An agreement in which the Federal Government provides funding or a thing of value authorized by public statute and the government plays a substantial role.
- Cost Sharing
- That portion of a project or program costs not borne by the Federal Government.
- Grant
- Agreement in which the Federal Government provides funding or a thing of value to support a public purpose authorized by public statute. The Government is not the recipient of the good or service and does not play a substantial role.
- NICRA
- Negotiated Indirect Cost Rate Agreement. A method of charging costs which can not be directly identified.
- Prior approval
- Written approval by an authorized official evidencing prior consent.
- SF-425
- Standard Form 425—used to prepare financial reports for a grant or cooperative agreement.
- SF-270
- Standard Form 270 - used to request advances or reimbursements for a grant or cooperative agreement.
- Subaward
- An award of financial assistance in the form of money, or property in lieu of money, made under an award by a recipient to an eligible subrecipient or by a subrecipient to a lower tier subrecipient. The term includes financial assistance when provided by any legal agreement, even if the agreement is called a contract, but does not include procurement of goods and services nor does it include any form of assistance which is excluded from the definition of award.
- Subrecipient
- A legal entity to which a subaward is made and which is accountable to the recipient for the use of the funds provided.