Glossary of Terms, Acronyms and Definitions
The glossary is your key to decoding acronyms, terms and definitions throughout the site.
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Generally Accepted Accounting Principles
Generally Accepted Government Auditing Standards
U.S. Government Accountability Office.
The general location based on the location entered in the grant proposal details.
Generally Accepted Accounting Principles (GAAP)
Accounting standards issued by the GASB and FASB.
Generally Accepted Government Auditing Standards (GAGAS)
Also known as the Yellow Book, means generally accepted government auditing standards issued by the Comptroller General of the United States, which are applicable to financial audits.
The "Geographic Location" is a critical element of the Project Statement to identify the location on the map where the grant activities will take place.
Government owned, contactor operated.
An award of financial assistance made by the Federal Government to an eligible grantee to carry out one or more approved projects.
Grant agreement means a legal instrument of financial assistance between a Federal awarding agency or pass- through entity and a non-Federal entity that, consistent with 31 U.S.C. 6302, 6304:
(1) Is used to enter into a relationship the principal purpose of which is to transfer anything of value to carry out a public purpose authorized by a law of the United States (see 31 U.S.C. 6101(3)); and not to acquire property or services for the Federal awarding agency or pass-through entity's direct benefit or use;
(2) Is distinguished from a cooperative agreement in that it does not provide for substantial involvement of the Federal awarding agency in carrying out the activity contemplated by the Federal award.
(3) Does not include an agreement that provides only:
(i) Direct United States Government cash assistance to an individual;
(ii) A subsidy;
(iii) A loan;
(iv) A loan guarantee; or
Grant Management Cycle
Life cycle of a grant, which can be broken into three stages: pre-award, award, and post award.
A financial assistance management software platform that enables Federal agencies to manage grants and cooperative agreements through the entire award life cycle including pre-award, award, post-award, and closeout.
The primary federal grantor or contact(s) for a grant award.
Any state, local, or municipal government receiving WSFR funds, as well as any commercial organization or non-profit organization that receives WSFR funds. This term also includes any and all subgrantees involved with the project.
Provide for use of land owned by another without creating a property right, title, interest, or estate.
Recipients may use award funds to acquire grazing permits directly from Federal, State or local land management agencies.
A group is a collection of users assigned to a specific agency or regional office. By default, TRACS has top‐ level groups that correspond to state and federal agencies.