NRS Financial
Jeopardy!
The Adult Education Community’s
Favorite Game Show
Terms &
Definitions
Cost
Monitoring
Principles
&
& Budgeting
Planning
Auditing
&
Reporting
Miscellaneous
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$600
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$800
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$200
This refers to the expenses of doing
business that are not readily identified
with a particular grant or contract, but
are necessary for the general operation
of the organization and the conduct of
activities it performs.
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Question
$200
Question:
What is an indirect cost
rate?
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$400
This is the regulatory term for
the State or agency that is
responsible for the performance
or administration of all or part of
a Federal award.
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$400
Question:
What is a grantee?
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$600
This is a cost that is directly
identifiable and assignable to a
specific activity that supports
the purposes of adult
education.
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$600
Question:
What is a direct cost?
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$800
This is a “contribution
other than cash,” as
defined under federal
guidelines.
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Question:
$800
What is in-kind
contribution
(or in-kind service)?
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$1000
This is an allowable cost
that actually benefits grant
or contract activities to
which they are assigned.
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$1000
Question:
What is an allocable cost
(or charge)?
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$200
This is an ongoing process of
contact between the state and
subgrantees to ensure legal
compliance and ongoing
performance of a grant.
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$200
Question:
What is monitoring?
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$400
These are options under
EDGAR that a state has if a
local program fails to
comply with the terms of its
grant.
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$400
Question:
(Must offer at least 2 of the following):
•
•
•
•
What are…
Withhold cash payments,
Deny use of funds and matching
credit,
Suspend or terminate the award, and
Take other legal action?
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$600
This the only answer a state
may give when a
subgrantee has been
disbarred or suspended and
requests a subward.
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$600
Question:
What is “no”?
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$800
This is a term for
the consequence, or worst-case
scenario, that occurs when a
grantee or subgrantee does not
comply with the terms of an award.
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$800
Question:
What is termination
(or suspension)?
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$1000
This document describes
standards for Federal audits
and areas to examine when
auditing adult education
grants.
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$1000
Question:
What is
OMB Circular A-133
Compliance Supplement?
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$200
This is a minimum of 33
percent of the Federal grant
amount or 25 percent of the
total funds used.
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$200
Question:
What is the state match
(matching)?
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$400
This is the fiscal effort per
student or the aggregate
expenditures that each eligible
agency makes for adult
education.
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$400
Question:
What is
Maintenance of Effort?
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$600
The State may use
no more than 10 percent of
pass-through funds for this.
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$600
Question:
What are services to
institutionalized adults?
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$800
This is the amount a state
agency may spend on
administrative costs from the
Federal AEFLA award.
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$800
Question:
What is
the greater of 5%, or
$65,000?
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$1000
This is the general term that
refers to costs that are legal,
reasonable, and allocable.
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$1000
Question:
What is allowable, or
allowable costs?
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$200
There are two of these
required: an initial and a
final.
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$200
Question:
What is the Financial
Status Report (FSR)?
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$400
This is the amount that
states must pass-through
to eligible providers
for services from their
Federal grant.
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$400
Question:
What is not less than
82.5 percent?
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$600
This is the governmental Act
that offers a method for
auditing local programs.
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$600
Question:
What is the
Single Audit Act?
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$800
This is based on actual,
after-the-fact activity of each
employee that accounts for
total activity for which an
employee is compensated.
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$800
Question:
What is Time and Effort
documentation?
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$1000
This covers the first year of
the grant and is due 90
days after the program
year ends.
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$1000
Question:
What is an Initial FSR?
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$200
These are the 3 printed
sources to turn to for
guidance on finance-related
issues in adult education.
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$200
Question:
What are AEFLA, EDGAR,
and OMB Circulars?
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$400
This is what a State must do
if it does not obligate all
its Federal funds during
the Tydings Amendment
period.
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$400
Question:
What is return funds
to the Federal
government?
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$600
This is the term used in statute that
mandates that Federal funds may not
be used to pay for services, staff,
programs, or materials that would
otherwise be supported by state or
local funds.
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$600
Question:
What is
“Supplement-NotSupplant”?
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$800
This is the period of time
for which a grantee must
keep fiscal records.
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$800
Question:
What is 3 years after the
grant end date (or five
years after grant award)?
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$1000
This is what happens
when a state
cannot meet its MOE.
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$1000
Question:
What is a reduction in the
federal allocation
to the state?
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Final JEOPARDY!
This what the acronym
EDGAR stands for.
What is Education
Department General
Administrative
Regulations?