Federal Award

A Federal Award is a financial assistance awarded under laws and regulations of the U.S. federal government to assist organizations or individual in the areas of such as education, health, science, public safety and welfare.

• AKA: Federal Grant.
• Context:
  • It is awarded directly by a Federal Awarding Agency or indirectly a Pass-through Entity.
  • …
• Example(s):
  • A Grant Agreement awarded by a Federal Awarding Agency or Pass-through Entity.
  • A Cost-reimbursement Contract awarded a Federal Awarding Agency or Pass-through Entity.
  • A Cooperative Agreement awarded by a Federal Awarding Agency or Pass-through Entity.
  • …
• Counter-Example(s):
  • Tax Benefit.
• See: Grant Recipient, Uniform Grant Guidance, U.S. Federal Government, Financial Assistance, Federal Awarding Agency, Pass-through Entity.

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References

2016

• (Wikipedia, 2016) ⇒ http://en.wikipedia.org/wiki/Administration_of_federal_assistance_in_the_United_States#Federal_grants_and_awards Retrieved 2016-11-13
  • QUOTE: Programs administer assistance by “granting” or “awarding” a portion of the assistance to recipients. These are called Federal grants or awards. Recipients must first apply for the award directly to the federal agency which administers the program. The agency must then determine the amount of assistance to be awarded and notifies the recipient of the award. In order for an award to be considered official, a contract or grant agreements is entered between the agency and the recipient where details of the use of the award and the restrictions and limitations of the award are included.

    Federal awards may specify a time period during which the recipient may use the assistance which is called the Period of Availability of Federal Funds. Most grants have a term of one year (although some may have a longer lifespan, even indefinitely), and the recipient must use the assistance within that timeframe. This is done because federal assistance is tied to the federal government’s budget process, and any funds not used by a recipient within the specified time limit is reverted to other uses.

    As a condition of receiving Federal awards or grants, recipients must agree to comply with the applicable laws and regulations related to the program and its agency, as well as any provisions included in the contracts and grant agreements entered between the recipient and the agency. Failure to do so may lead to sanctions, including fines and penalties, exclusion or suspension from participating in federal assistance programs and activities, and/or criminal charges. Most federal program regulations for which agencies and recipients must always comply are compiled in the Code of Federal Regulations, with summaries and guidance for these regulations contained in OMB Circular letters.

• CDER Library v1.5.1.
  • QUOTE:Federal award has the meaning, depending on the context, in either paragraph (a) or (b) of this section:
    

(a)(1) The Federal financial assistance that a non-Federal entity receives directly from a Federal awarding agency or indirectly from a pass-through entity, as described in §200.101 Applicability; or

1. The cost-reimbursement contract under the Federal Acquisition Regulations that a non-Federal entity receives directly from a Federal awarding agency or indirectly from a pass-through entity, as described in §200.101 Applicability.
   

(b) The instrument setting forth the terms and conditions. The instrument is the grant agreement, cooperative agreement, other agreement for assistance covered in paragraph (b) of §200.40 Federal financial assistance, or the cost-reimbursement contract awarded under the Federal Acquisition Regulations.

(c) Federal award does not include other contracts that a Federal agency uses to buy goods or services from a contractor or a contract to operate Federal government owned, contractor operated facilities (GOCOs).

(d) See also definitions of Federal financial assistance, grant agreement, and cooperative agreement.

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