Term

Definition

Notes

Allocation

The amount of funding provided for a specific purpose, for example salary or fringe benefits.

Carryover

Grant funds that were not spent in the year intended that are applied to the next fiscal year of the project.

In order to carryover funds from year to year, the funder must approve in writing.  This requires a revised budget to be submitted reflecting the carried over funds.

Cost Objective

A specific grant award, or other category of costs, that requires the grantee to track specific cost information

Cost objectives are important for Time and Effort reporting.

Dear Colleague Letter

This correspondence from the federal government details specific reporting requirements, forms, and deadlines. 

Do not mistake this for junk mail – it is a form letter, but it is very important.

Direct Costs

Those costs that can be identified specifically with a particular program

Program services provided to intended beneficiaries or compensation of the employees who administer the program.

ED

The US Department of Education

DOE = department of energy

EDGAR

Education Department General Administrative Regulations

A subset of the Code of Federal Regulations specific to ED.

Expenditure

The amount of funds spent for a specific purpose, for example salary, or to pay an individual invoice.

FMS

Financial Management System

SPPS’ official book-keeping system

Form 524b

Grant Performance Report

For Federal Grants – has three sections that need to be filled out annually: Cover Sheet and Summary, Budget, and Performance.

GAAP

Generally Accepted Accounting Principles

An agreed upon method for accountants everywhere to follow the same processes for accounting.  Allows for a standardization of practice.

GAN

Grant Award Notification

The official communication from ED of your grant.  It includes information about the budget, project period, department contacts, reporting requirements, etc.

GEPA

General Education Provisions Act

Provides administrative guidance to federal grant projects.

Indirect Costs

Costs that benefit multiple federal and state awards and cannot easily be associated with one specific program.

Salaries and expenses for data processing, accounting, procurement and human resources.

iProcurement

SPPS’ internal system for requisitioning supplies, contractors, etc.

Used to create purchase orders and initiate the procurement of goods and services in excess of $1,000.

LEA

Local Education Agency

SPPS is an LEA, Individual charter schools are often considered LEAs

Obligate/ion

Funds are “obligated” when a (sub)grantee makes a formal commitment of federal funds for a specific purpose.

The timing of an obligation depends on the goods or services; when a contract is signed, when a PO is issued, when work is performed by an employee.

OGAN

Official Grant Award Notification

Document that comes from the MN Department of Education with details of a grant award.

OMB

Office of Management and Budget

Establishes and administers the federal budget.

OMB A-87

Cost Principles for State, Local and Indian Tribal Governments

Provides legal guidance on allowable costs and proper documentation of funds.

OMB A-102

Administrative Requirements

Provides guidance on the systems that must be in place in order to properly administer a grant project.

OMB A-133

Audits of States, Local Governments, and Non-Profit Organizations

Governs the rules and standards and establishes the general audit requirements for grantees.

P-Card

An SPPS’ Visa Card that can be used to make purchases.

If you would like a P-Card, you must apply for a card and attend a training (see PD Express)

RFP

1.  Request for Payment (SPPS)

2.  Request for Proposal

1.  The form that will ultimately generate a check to pay a bill.

2.  The original request for applications to a grant – spells out how funds can and cannot be used.

SAM

School Account Management System

A stand-alone File Maker Pro database that is used to track allocations and expenditures of funds.  Can be used for multiple accounts.  Generates RFPs.

SEA

State Education Agency

In Minnesota, the SEA is the MN Department of Education

Supplement not supplant

Requires that federal funds be used to augment the regular educational program, not to substitute for funds or services paid for otherwise.