Grants
Key Terminology
A formal agreement from a sponsor providing funding for specific activities. One award can have multiple award lines and associated grants.
Legacy Term: Award
A component of an award that is directly associated with a specific Grant worktag, maintaining a one-to-one relationship with that worktag. It supports billing schedules and contains key demographic details, such as indirect cost agreements.
Legacy Term: Project
Refers to the billing method associated with a particular award line (Cost Reimbursable or Fixed Amount). It determines how and when revenue is recognized and invoices are generated for a sponsored award.
Legacy Term: Contract Type
Defines the timeline and structure for budgeting and reporting on an award.
The amount of direct spend by a subrecipient is eligible for Facilities and Administration (F&A) costs. This limit is tagged on the award line that represents a subaward.
Legacy Term: Subcontract Account Codes
Specifies how and when sponsors are billed for award-related expenses.
Legacy Term: Contract Module
A structured summary of the costs proposed or awarded for a sponsored award. It is a required component of the award setup process and serves as the financial blueprint for managing the award throughout its lifecycle.
A worktag representing a specific funding source within an award, maintaining a one-to-one relationship with an Award Line. It tracks expenses, revenues, and budgets.
Legacy Term: Project
A structural framework used to organize and manage grants by grouping them. This hierarchy helps streamline role assignments, reporting and financial oversight.
A roll-up category that groups multiple spend categories (types of expenses) into broader classifications for grants. It’s used to track spending by type (e.g., salaries, travel, equipment) and enforce budget controls.
Legacy Term: Accounting Trees
Used to document any important or unique terms and requirements associated with a specific award.
Legacy Term: Award Attributes
A control mechanism used to ensure that only allowable expenses are charged to a grant. These define which spend categories (types of expenses) are allowed or disallowed on specific grant(s).
A financial agreement that allows an organization to provide funding to another entity (subrecipient) to carry out a portion of a project or program. Subawards are commonly used in grants management to manage and track costs and contacts related to subrecipients.
Legacy Term: Subaward
A formal agreement between a company and a supplier that outlines the terms and conditions of the procurement of goods or services.
Legacy Term: Purchase Order