Glossary
Contract - A reciprocal business arrangement in which one or more parties agree to provide to one or more other parties certain good and/or services in return for pre-arranged compensation. A contract can be for specified fixed price or can provide payment on the basis of reimbursement of expenses (cost-reimbursable basis) or a combination thereof.
Cooperative Agreement - A legal instrument used principally for transferring money, property, or service to a recipient in order to accomplish a public purpose of support or stimulation where substantial involvement is expected between the agency and the recipient.
Cost Sharing - An explicit arrangement under which the contractor bears some of the burden of reasonable, allocable, and allowable contract cost.
Direct Costs - Clearly identifiable cost related to a specific project. General categories of direct costs include but are not limited to salaries and wages, fringe benefits, supplies, contractual services, travel and communication, equipment, computer use, alterations and renovations.
Discretionary -Pot of funding available through government agencies for grant award based on appropriations made. Funds awarded by the federal or state government on a competitive basis-typically for demonstration, special research activities, and service projects. Awards made by judgment, not mandate.
Evaluation - Determination of the effectiveness or usefulness of a service or product for intended purposes. Usually also involves means of improving it and the discovery of unintended effects.
Facilities & Administration Costs - Costs related to expenses incurred in conduction or supporting research or other externally-funded activities but not directly attributable to a specific project. General categories of indirect costs include general administration (accounting, payroll, purchasing, etc.), sponsored project administration, plant operation and maintenance, library expenses, departmental administration expenses, depreciation or use allowance for buildings and equipment, and student administration and services. Also referred to as indirect costs.
Federal Register - A daily publication of the Office of the Federal Register, as a medium for notifying the public of official agency actions.
Formula - Grants awarded to states on a non-competitive basis according to a formula determined but the authorizing law. Formula usually based on relative population and demographic factors relevant to the purpose of the grant program.
Grant - A financial assistance award to a organization in the name of a principal investigator to assist the organization in the conduct of research or other program as specified in an approved proposal. A grant- as opposed to a cooperative agreement- is used whenever the awarding office anticipates no substantial programmatic involvement with the recipient during the performance of the activities.
Grant Officer - A designated individual within an agency officially responsible for the business management aspects of a particular grant, cooperative agreement, or contact. Serving as the counterpart to the business officer of the grantee/contractor organization, the grant/contractor officer is responsible for all business management matters associated with the review, negotiation, award, and administration of a grant or contract and interprets the associated administration policies, regulations, and provisions. Also see program/project officer.
In-kind Contributions - Non- cash contributions provided by a performing contractor or a non-Federal third party who is participating. Contributions may be in form of personal property, real property, or services.
Letter of Intent - A letter customarily employed to reduce to writing a preliminary understanding of parties that intend to enter into a contact.
Matching - A grant that requires a specified portion of the cost of a supported item of equipment or project be obtained from other sources.
Principal Investigator/Project Director - The individual who will direct the project and who is designated by the institution as responsible for completing it as agreed to.
Program Officer - A designated individual within an agency officially responsible for the technical, scientific, or programmatic aspects of a particular grant, cooperative agreement, or contract. Serving as the counterpart to the principal investigator/project director of the grantee/contractor organization, the program/project officer deals with the grantee/contractor organization staff to assure programmatic progress.
Request for Proposals - Announces the intent to award a contract and specifies the service or product to be delivered, the criteria to be used, applicant qualifications, person-years anticipated, and deadline.
