Acroynms
NIH
What is the National Institutes of Health?
The individual responsible for the preparation, conduct, and administration of a sponsored project.
Who is the Principal Investigator?
Costs that can be associated with a single cost objective
What are direct costs?
A legal device to provide financial assistance to a recipient that does not provide substantial involvement from the sponsor
What is a grant?
A request for additional time, but not additional funds, to complete a project
What is a no cost extension?
OIG
What is the Office of Inspector General?
An individual that is authorized to speak for and legally commit the institution to grant administration matters
Who is the Authorized Institutional Official or Authorized Organizational Representative?
Limit on the amount of compensation for any personnel
What is a salary cap?
A procurement mechanism to obtain goods or services
What is a contract?
The addition of a new subaward requires this
What is sponsor prior approval?
NOA
What is a Notice of Award?
An individual employed by the sponsor who is responsible for the programmatic, scientific, and technical aspects of an award
Who is a Program Officer?
Costs that can’t be associated with a single cost objective and often support infrastructure and administration
What are indirect costs or Facilities and Administration costs?
A financial assistance device where the sponsor has significant involvement in the design and conduct of the project
What is a cooperative agreement?
Reviewing how an award’s actual expenses vary from the award budget is part of ___.
What is award monitoring?
UG
What is Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal awards or Uniform Guidance?
An individual that assists with pre or post-award functions of an award
Who is a grants specialist?
Tangible personal property having a useful life of more than one year and a per-unit acquisition cost exceeding $10,000*
* as of October 1, 2024
What is equipment?
Funds provided to the recipient under contract that require repayment of funds with or without interest
What is a loan?
The process by which it is determined that all actions, reports, and required work are completed.
What is award closeout?
SOW
What is a statement of work?
A entity that receives a subaward from a pass-through entity to carry out part of a program or project
Who is a subrecipient or subawardee?
A portion of project costs not paid by the sponsor
What is cost share or matching?
A type of grant or contract where the funder agrees to pay a set amount of money for a project, no matter how much it actually costs to complete.
What is a fixed-price or fixed-amount award?
To recover the project's expended funds the institution must send a formal request for reimbursement to the sponsor
What is an invoice?