Glossary

These definitions are drawn from several sources including the Office of Management and Budget’s (OMB) uniform guidance, American Institute of Certified Public Accountants’ (AICPA) auditing standards and in business practice. Administrative requirements — areas common to grants in general, such as financial management, types and frequency of reports, and retention of records. These are distinguished from programmatic requirements, which are unique to each program or grant, such as activities that can be supported by grants under a particular program. Advance payment — a payment that a federal agency or pass-through entity makes by any appropriate payment mechanism and… Read More