Grants Terminology

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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.

In their own words

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