6
FAIN
What is the Federal Award Identification Number?
EPA
What is the Environmental Protection Agency?
Studying for this exam.
What is torture?
GOCO
What is Government owned, contractor operated?
All tangible personal property other than those described in §200.33 Equipment.
What are Supplies?
Land, including land improvements, structures and appurtenances thereto, but excludes moveable machinery and equipment.
What is real property?
IBS
What is Institutional Base Salary?
Computing devices, ancillary equipment, software, firmware, and similar procedures, services (including support services), and related resources.
What are information technology systems?
See also §§200.20 Computing devices and 200.33 Equipment.
A payment that a Federal awarding agency or pass-through entity makes by any appropriate payment mechanism, including a predetermined payment schedule, before the non-Federal entity disburses the funds for program purposes.
What is an advance payment?
SNAP
What is the Supplemental Nutrition Assistance Program?
GAO
What is the Government Accountability Office?
An “agency” as defined at 5 U.S.C. 551(1) and further clarified by 5 U.S.C. 552(f).
What is a Federal agency?
The ending of a Federal award, in whole or in part at any time prior to the planned end of period of performance.
What is Termination?
Defined as a systematic study directed toward fuller scientific knowledge or understanding of the subject studied.
What is Research?
The systematic use of knowledge and understanding gained from research directed toward the production of useful materials, devices, systems, or methods, including design and development of prototypes and processes.
What is Development?
Depending on the context, either: (a) A written demand or written assertion by one of the parties to a Federal award seeking as a matter of right: (1) The payment of money in a sum certain; (2) The adjustment or interpretation of the terms and conditions of the Federal award; or (3) Other relief arising under or relating to a Federal award. (b) A request for payment that is not in dispute when submitted.
What is a claim?
PII
What is Personally Identifiable Information?
PII means information that can be used to distinguish or trace an individual's identity, either alone or when combined with other personal or identifying information that is linked or linkable to a specific individual. **see more info in UG definition PII vs Non-PII
Action taken by the auditee that:
(a) Corrects identified deficiencies;
(b) Produces recommended improvements; or
(c) Demonstrates that audit findings are either invalid or do not warrant auditee action.
What is corrective action?
FFATA
What is the Federal Funding Accountability and Transparency Act of 2006 or Transparency Act?
Public Law 109-282, as amended by section 6202(a) of Public Law 110-252 (31 U.S.C. 6101)
A process, implemented by a non-Federal entity, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:(a) Effectiveness and efficiency of operations;(b) Reliability of reporting for internal and external use; and(c) Compliance with applicable laws and regulations.
What are internal controls?
Equipment which is not limited to research, medical, scientific or other technical activities. Examples include office equipment and furnishings, modular offices, telephone networks, information technology equipment and systems, air conditioning equipment, reproduction and printing equipment, and motor vehicles.
What is General purpose equipment?
A program, function, activity, award, organizational subdivision, contract, or work unit for which cost data are desired and for which provision is made to accumulate and measure the cost of processes, products, jobs, capital projects, etc. May be a major function of the non-Federal entity, a particular service or project, a Federal award, or an indirect cost activity, as described in Subpart E.
What is a cost objective?
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.
What are Generally Accepted Government Auditing Standards (GAGAS)?
A type of grant agreement under which the Fed awarding agency or pass-through entity provides a specific level of support without regard to actual costs incurred under the Fed award. This type of Fed award reduces some of the admin burden and record-keeping requirements for both the non-Fed entity and Fed awarding agency or pass-through entity. Accountability is based primarily on performance and results.
What are Fixed amount awards?
The dollar amount below which a non-Federal entity may purchase property or services using small purchase methods. Non-Federal entities adopt small purchase procedures in order to expedite the purchase of items costing less than the simplified acquisition threshold.
What is the simplified acquisition threshold?
**The simplified acquisition threshold is set by the Federal Acquisition Regulation at 48 CFR Subpart 2.1 (Definitions) and in accordance with 41 U.S.C. 1908. As of the publication of this part, the simplified acquisition threshold is $150,000, but this threshold is periodically adjusted for inflation. (Also see definition of §200.67 Micro-purchase.)