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F

Federal Audit Clearinghouse (FAC)

The clearinghouse designated by OMB as the repository of record where non-Federal entities are required to transmit the information required by 2 CFR 200 subpart F.

Entry link: Federal Audit Clearinghouse (FAC)

Federal Award

Depending on the context, in either paragraph (1) or (2) of this definition:

(1)

(i)    The Federal financial assistance that a recipient receives directly from a Federal awarding  agency or indirectly from a pass-through entity, as described in § 200.101; or 

(ii)    The cost-reimbursement contract under the Federal Acquisition Regulations that a non-Federal entity receives directly from a Federal awarding agency or indirectly from a pass-through entity, as described in § 200.101.

(2)   The instrument setting forth the terms and conditions. The instrument is the grant agreement, cooperative agreement, other agreement for assistance covered in paragraph (2) of the definition of Federal financial assistance in this section, or the cost-reimbursement contract awarded under the Federal Acquisition Regulations.

(3)   Federal award does not include other contracts that a Federal agency uses to buy goods or services from a contractor or a contract to operate Federal Government owned, contractor operated facilities (GOCOs).

(4)   See also definitions of Federal financial assistance, grant agreement, and cooperative agreement.


Entry link: Federal Award

Federal Award Date

The date the Federal award is signed by the authorized official of the Federal awarding agency.

Entry link: Federal Award Date

Federal Awarding Agency

The Federal agency that provides a Federal award directly to a non-Federal entity.


Entry link: Federal Awarding Agency

Federal Financial Assistance

(1)   Assistance that non-Federal entities receive or administer in the form of:

(i)    Grants;

(ii)    Cooperative agreements;

(iii)   Non-cash contributions or donations of property (including donated surplus property);

(iv)   Direct appropriations;

(v)    Food commodities; and

(vi)   Other financial assistance (except assistance listed in paragraph (2) of this definition).

(2)   For § 200.203 and subpart F of this part, Federal financial assistance also includes assistance that non-Federal entities receive or administer in the form of:

(i)    Loans;

(ii)    Loan Guarantees;

(iii)   Interest subsidies; and

(iv)   Insurance.

(3)   For § 200.216, Federal financial assistance includes assistance that non-Federal entities receive or administer in the form of:

(i)    Grants;

(ii)    Cooperative agreements;

(iii)    Loans; and

(iv)    Loan Guarantees.

(4)    Federal financial assistance does not include amounts received as reimbursement for services rendered to individuals as described in § 200.502(h).


Entry link: Federal Financial Assistance

Federal Interest

For purposes of 200.330 or when used in connection with the acquisition or improvement of real property, equipment, or supplies under a Federal award, the dollar amount that is the product of the:

(1)   The percentage of Federal participation in the total cost of the real property, equipment, or supplies; and

(2)   Current fair market value of the property, improvements, or both, to the extent the costs of  acquiring or improving the property were included as project costs.


Entry link: Federal Interest

Federal Program

(1)   All Federal awards which are assigned a single Assistance Listings Number.

(2)   When no Assistance Listings Number is assigned, all Federal awards from the same agency made for the same purpose must be combined and considered one program.

(3)   Notwithstanding paragraphs (1) and (2) of this definition, a cluster of programs. The types 

of clusters of programs are:

(i)    Research and development (R&D);

(ii)    Student financial aid (SFA); and

(iii)   “Other clusters,” as described in the definition of cluster of programs in this 2 CFR 200.


Entry link: Federal Program

Federal Register

The official journal of the federal government of the United States that contains government agency rules, proposed rules, and public notices. It is a daily (except federal holidays) publication. The final rules promulgated by a federal agency and published in the Federal Register are ultimately reorganized by topic or subject matter and codified in the Code of Federal Regulations (CFR), which is updated annually.


Entry link: Federal Register

Federal Share

The portion of the total project costs that are paid by Federal funds.


Entry link: Federal Share

Fee Simple Interest

Is the least limited interest and most complete and absolute ownership in land. The interests most commonly acquired in the Office of Conservation Investment administered award programs are fee title, easement and leasehold.

Fee with exception to title or less than full fee is an ownership interest in land that excludes one or more interests in real property. Some examples are: a parcel with a power-line easement through it a parcel where one entity owns all interests except the mineral rights, or a parcel subject to a conservation easement.


Entry link: Fee Simple Interest


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