C&P
The AISD board policy that covers Purchasing and Acquisition.
What is CH?
The government department responsible for federal education grants in the U.S.
What is the U.S. Department of Education?
This term refers to businesses owned by minorities, women, veterans, and economically disadvantaged individuals.
What is a Historically Underutilized Business (HUB)?
The type of budget where government spending exceeds revenue.
What is a budget deficit?
This is the primary source of funding for public K-12 schools.
What is property tax revenue?
A purchasing agreement that allows multiple schools to buy from the same vendor under the same terms.
What is a cooperative purchasing contract?
This federal grant provides funding to support low-income schools.
What is Title I funding?
The percentage of ownership a business owner must have to qualify as a HUB.
What is at least 51% ownership?
A government budget that aims to have revenue equal to expenditures.
What is a balanced budget?
The type of risk that results from changes in interest rates affecting a company’s finances.
What is interest rate risk?
The term for ensuring that procurement practices follow ethical and legal standards.
What is procurement compliance?
Failure to comply with grant regulations may require a school to do this with the funds.
What is repay the grant?
The department in school districts responsible for purchasing goods and services from HUB vendors.
In budgeting, this term refers to an unexpected cost that businesses should prepare for.
What is a contingency fund?
The federal law that sets minimum wage, overtime pay, and youth employment standards.
What is the Fair Labor Standards Act (FLSA)?
The contract term for penalties or fees imposed when a vendor does not meet construction obligations.
What is a liquidated damages clause?
The type of audit conducted to review federal grant spending by schools.
What is a Single Audit?
The report school districts submit to the state to track HUB participation.
What is a HUB Utilization Report?
The budgeting method where past budgets are used as a base and adjusted for inflation or growth.
What is incremental budgeting?
The function responsible for managing a company's cash flow, liquidity, and investments.
What is treasury management?
Schools must follow this federal rule when purchasing with grant funds over a certain threshold.
What is the Micro-Purchase & Simplified Acquisition Threshold Rule?
The acronym SMART, used in grant writing, stands for these five key goal characteristics.
What are Specific, Measurable, Achievable, Relevant, and Time-bound?
The advantage HUBs have in partnerships with larger companies.
What is joint venture opportunities?
A business technique where every expense must be justified for a new period, rather than carrying over past budgets.
What is zero-based budgeting?
The Interim CFO's favorite financial statement.
What is an Income Statement?