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The Corrective Action Plan is a plan prepared by the Service in consultation with the grantee for addressing audit findings and implementing corrective actions.  At a minimum, it contains four components: auditor’s findings and recommendations, Service determinations, corrective actions, and resolutions.

Entry link: CAP

Capital Assets

(1)   Tangible or intangible assets used in operations having a useful life of more than one year 

which are capitalized in accordance with GAAP. Capital assets include:

(i)    Land, buildings (facilities), equipment, and intellectual property (including software) 

whether acquired by purchase, construction, manufacture, exchange, or through a lease accounted for 

as financed purchase under Government Accounting Standards Board (GASB) standards or a finance 

lease under Financial Accounting Standards Board (FASB) standards; and

(ii)    Additions, improvements, modifications, replacements, rearrangements, reinstallations, 

renovations or alterations to capital assets that materially increase their value or useful life 

(not ordinary repairs and maintenance).

(2)   For purpose of this part, capital assets do not include intangible right-to-use assets (per 

GASB) and right-to-use operating lease assets (per FASB). For example, assets capitalized that 

recognize a lessee's right to control the use of property and/or equipment for a period of time 

under a lease contract. See also § 200.465.

Entry link: Capital Assets

Capital Expenditure

Expenditures to acquire capital assets or expenditures to make additions, improvements, modifications, replacements, rearrangements, reinstallations, renovations, or alterations to capital assets that materially increase their value or useful life. 

Capital improvement 

(1) A structure that costs at least $25,000 to build, or

(2) The alteration, renovation, or repair of a structure if it increases the structure’s useful life by at least 10 years or its market value by at least $25,000.

Entry link: Capital Expenditure

Carryover Funds

Apportioned funds not obligated during the first year of availability and carried over into the next year for obligation by the state. The obligation of these funds does not count toward establishing a safety margin at year-end.

Entry link: Carryover Funds


Cost Accounting Standards

Entry link: CAS


Categorical exclusions are classes of actions which do not individually or cumulatively have a significant effect on the human environment. Also called Cat Ex.

Entry link: Cat-Ex

Catalog of Federal Assistance (CFDA)

The Catalog of Federal Domestic Assistance is a government-wide compendium of Federal programs, projects, services, and activities that provide assistance or benefits to the American public. The CFDA contains financial and non-financial assistance programs administered by departments and establishments of the Federal government. 

Entry link: Catalog of Federal Assistance (CFDA)


Central Contractor Registry.

Entry link: CCR

Central Service Cost Allocation Plan

The documentation identifying, accumulating, and allocating or developing billing rates based on the allowable costs of services provided by a State or local  government or Indian tribe on a centralized basis to its departments and agencies. The costs of these services may be allocated or billed to users. 

Entry link: Central Service Cost Allocation Plan


The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government.

Entry link: CFR

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