Terms &
Terminology
Terminology
This is when you verify records and make sure all the year's expenses add up correctly in order to report this data to the federal government.
What is a reconciliation?
Valid forms of supporting documentation
What are invoices and receipts?
These items, which come from legislation and have a derivative of that word in their name, classify each expenditure as it relates to planned project activities, and defines how they help meet the overall strategic goals and objectives submitted to the DoE by the university.
What are LAA's?
When the APR system officially opens up.
What is January 12, 2023?
Required documentation that federal funds were charged only for time actually worked on allowable activities.
What is Time and Effort?
Allowable activities and their categories.
What are LAA's?
Jannine Vidal, #125214
Who is the ONLY Purchasing Agent at Oakwood University?
This LAA is used for the "purchase, rental, or lease of scientific or laboratory equipment for educational purposes, including instructional and research purposes.:
What is LAA #1?
October 1 through September 30 of the fiscal year that just ended.
What is the reporting period for the APR?
The online program that Oakwood employees use to fill out the Time and Effort form.
What is Laserfiche?
Your plan for how you are going to spend your allotted Title III dollars and meet your planned outcomes. You can check this section in your Title III book to remind you what you said you were going to spend your money on and help keep you on track with your progress.
What are Title III Activity Objectives?
A document that shows exactly how much an Activity has to spend on each of its planned line items and which account should be used to pay for the items.
What is a Title III Budget Narrative?
This LAA is used for construction purposes.
What is LAA #2?
Unexpended funds (not spending enough funds), Institutionalization (sustainability plan to transition to institutional funds), and Reporting Timeline (reporting data from correct time period which is always Oct 1-Sep 30).
What are some of the items that Title 3 Program Officers have identified that need improvement in our APR submissions?
Costs that do not have adequate documentation.
What is unallowable and subject to repayment?
A description of the institution’s strategy for how it proposes to achieve growth and self-sufficiency by strengthening its financial management and academic programs.
What is CDP?
Each year, Title III account numbers used for requisitioning change their last two digits to match this. (*Hint: This does not apply to Salary account numbers.)
What are the last two digits of the current fiscal year?
This LAA is used for any purchase related to "tutoring, counseling, and student service programs designed to improve academic success." This LAA pertains to the PSS activity.
What is LAA #6?
Virtual and On-site
What are the 2 types of site review or site visits?
The 5th of the month.
What is the deadline for employees to fill out the Time and Effort Form?
The annual report that the Office of Grants submits to the Department of Education that reports your accomplishments for the past fiscal year. (*Hint: 2/3 words are in this sentence.)
What is the APR?
These are federal funds that must be spent according to PLANS that are submitted IN ADVANCE to the Department of Education. These plans SHOULD NOT CHANGE after the grant is awarded.
What is Title III?
This LAA is used frequently by the FIIV & T3PRO activities. It deals with purchases related to "funds management, administrative management, and acquisition of equipment for use in strengthening funds management.
What is LAA #7?
Pre-review, review, and post-review.
What are the 3 monitoring review activities?
Salaries and fringe.
What are allowable costs?