NRS Financial Jeopardy! The Adult Education Community’s Favorite Game Show.
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Transcript of NRS Financial Jeopardy! The Adult Education Community’s Favorite Game Show.
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NRS Financial Jeopardy!
The Adult Education Community’s Favorite Game Show
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$400
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$800
$1000
$200
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$800
$1000
$200
$400
$600
$800
$1000
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$400
$600
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$1000
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$400
$600
$800
$1000
$200
Terms & Definitions
Cost Principles
& Budgeting
Monitoring &
Planning
Auditing &
ReportingMiscellaneous
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This refers to the expenses of doing business that are not readily identified with a particular grant or contract, but are necessary for the general operation of the organization and the conduct of
activities it performs.
Return to Board See Question
$200
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Question:Question:
Return to Board
What is an indirect cost rate?
$200
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Return to Board See Question
This is the regulatory term for the State or agency that is
responsible for the performance or administration of all or part of
a Federal award.
$400
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Question:Question:
Return to Board
What is a grantee?
$400
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Return to Board See Question
This is a cost that is directly identifiable and assignable to
a specific activity that supports the purposes of adult
education.
$600
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What is a direct cost?
Return to Board
Question:Question:
$600
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Return to Board See Question
This is a “contribution other than cash,” as
defined under federal guidelines.
$800
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Return to Board
Question:Question:
What is in-kind contribution (or in-kind service)?
$800
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This is an allowable cost that actually benefits grant
or contract activities to which they are assigned.
Return to Board See Question
$1000
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$1000
Question:Question:
What is an allocable cost (or charge)?
Return to Board
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Return to Board See Question
This is an ongoing process of contact between the state and
subgrantees to ensure legal compliance and ongoing performance of a grant.
$200
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Return to Board
Question:Question:What is monitoring?
$200
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Return to Board See Question
These are options under EDGAR that a state has if a
local program fails to comply with the terms of its
grant.
$400
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Return to Board
Question:Question: (Must offer at least 2 of the following):
What are… • Withhold cash payments, • Deny use of funds and matching
credit, • Suspend or terminate the award, and• Take other legal action?
$400
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Return to Board See Question
This the only answer a state may give when a
subgrantee has been disbarred or suspended and
requests a subward.
$600
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Return to Board
Question:Question:
What is “no”?
$600
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Return to Board See Question
This is a term for the consequence, or worst-case
scenario, that occurs when a grantee or subgrantee does not
comply with the terms of an award.
$800
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Return to Board
Question:Question:What is termination
(or suspension)?
$800
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Return to Board See Question
This document describes standards for Federal audits and areas to examine when
auditing adult education grants.
$1000
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Return to Board
Question:Question: What is
OMB Circular A-133 Compliance Supplement?
$1000
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Return to Board See Question
This is a minimum of 33 percent of the Federal grant amount or 25 percent of the
total funds used.
$200
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Question:Question:
Return to Board
What is the state match (matching)?
$200
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This is the fiscal effort per student or the aggregate
expenditures that each eligible agency makes for adult
education.
Return to Board See Question
$400
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What is
Maintenance of Effort?
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Question:Question:
$400
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Return to Board See Question
The State may use no more than 10 percent of pass-through funds for this.
$600
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Return to Board
What are services to institutionalized adults?
Question:Question:
$600
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Return to Board See Question
This is the amount a state agency may spend on
administrative costs from the Federal AEFLA award.
$800
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Return to Board
What is the greater of 5%, or
$65,000?
Question:Question:$800
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Return to Board See Question
This is the general term that refers to costs that are legal,
reasonable, and allocable.
$1000
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Return to Board
What is allowable, or allowable costs?
Question:Question:$1000
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Return to Board See Question
There are two of these required: an initial and a
final.
$200
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Return to Board
Question:Question: What is the Financial Status Report (FSR)?
$200
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Return to Board See Question
This is the amount that states must pass-through to eligible providers
for services from their Federal grant.
$400
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Return to Board
Question:Question:
What is not less than 82.5 percent?
$400
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Return to Board See Question
This is the governmental Act that offers a method for
auditing local programs.
$600
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Question:Question:
Return to Board
What is the
Single Audit Act?
$600
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Return to Board See Question
This is based on actual, after-the-fact activity of
each employee that accounts for total activity for which an
employee is compensated.
$800
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Return to Board
Question:Question: What is Time and Effort
documentation?
$800
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Return to Board See Question
This covers the first year of the grant and is due 90 days after the program
year ends.
$1000
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Return to Board
Question:Question:
What is an Initial FSR?
$1000
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Return to Board See Question
These are the 3 printed sources to turn to for
guidance on finance-related issues in adult education.
$200
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Return to Board
Question:Question:What are AEFLA, EDGAR,
and OMB Circulars?
$200
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Return to Board See Question
This is what a State must do if it does not obligate all its Federal funds during the Tydings Amendment
period.
$400
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Question:Question:
Return to Board
What is return funds to the Federal
government?
$400
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Return to Board See Question
This is the term used in statute that mandates that Federal funds may not
be used to pay for services, staff, programs, or materials that would otherwise be supported by state or
local funds.
$600
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Question:Question: What is
“Supplement-Not-Supplant”?
$600
Return to Board
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Return to Board See Question
This is the period of time for which a grantee must
keep fiscal records.
$800
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Return to Board
Question:Question: What is 3 years after the
grant end date (or five years after grant award)?
$800
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Return to Board See Question
$1000
This is what happens when a state
cannot meet its MOE.
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Return to Board
Question:Question:What is a reduction in the federal allocation
to the state?
$1000
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Final JEOPARDY!
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This what the acronym EDGAR stands for.
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What is Education Department General
Administrative Regulations?