NRS Financial Jeopardy! The Adult Education Community’s Favorite Game Show

$400 $600 $800 $1000 $200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 $200 Terms & DefinitionsCostPrinciples & Budgeting Monitoring&PlanningAuditing&ReportingMiscellaneous

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

Question: Return to Board What is an indirect cost rate? What is an indirect cost rate? $200

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

Question: Return to Board What is a grantee? $400

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

What is a direct cost? cost Return to Board Question: $600

Return to Board See Question This is a “contribution other than cash,” as defined under federal guidelines. $800

Return to Board Question: What is in-kind contribution (or in-kind service)? $800

This is an allowable cost that actually benefits grant or contract activities to which they are assigned. Return to Board See Question $1000

Question: What is an allocable cost (or charge)? 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

Return to Board Question: What is monitoring? $200

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

Return to Board Question: (Must offer at least 2 of the following): (Must offer at least 2 of the following): What are… Withhold cash payments,Withhold cash payments, Deny use of funds and matching credit,Deny use of funds and matching credit, Suspend or terminate the award, andSuspend or terminate the award, and Take other legal action?Take other legal action? $400

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

Return to Board Question: What is “no”? $600

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

Return to Board Question: What is termination (or suspension)? $800

Return to Board See Question This document describes standards for Federal audits and areas to examine when auditing adult education grants. $1000

Return to Board Question: What is OMB Circular A-133 Compliance Supplement? What is OMB Circular A-133 Compliance Supplement? $1000

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

Question: Return to Board What is the state match (matching)? What is the state match (matching)? $200

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

What is What is Maintenance of Effort? Return to Board Question: $400

Return to Board See Question The State may use no more than 10 percent of pass-through funds for this. $600

Return to Board What are services to institutionalized adults? Question: $600

Return to Board See Question This is the amount a state agency may spend on administrative costs from the Federal AEFLA award. $800

Return to Board What is the greater of 5%, or $65,000? Question: $800

Return to Board See Question This is the general term that refers to costs that are legal, reasonable, and allocable. $1000

Return to Board What is allowable, or allowable costs? Question: $1000

Return to Board See Question There are two of these required: an initial and a final. $200

Return to Board Question: What is the Financial Status Report (FSR)? $200

Return to Board See Question This is the amount that states must pass-through to eligible providers for services from their Federal grant. $400

Return to Board Question: What is not less than 82.5 percent? $400

Return to Board See Question This is the governmental Act that offers a method for auditing local programs. $600

Question: Return to Board What is the What is the Single Audit Act? $600

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

Return to Board Question: What is Time and Effort documentation? What is Time and Effort documentation? $800

Return to Board See Question This covers the first year of the grant and is due 90 days after the program year ends. $1000

Return to Board Question: What is an Initial FSR? $1000

Return to Board See Question These are the 3 printed sources to turn to for guidance on finance-related issues in adult education. $200

Return to Board Question: What are AEFLA, EDGAR, and OMB Circulars? $200

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

Question: Return to Board What is return funds to the Federal government? What is return funds to the Federal government? $400

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

Question: What is What is “Supplement-Not- Supplant”? $600 Return to Board

See Question This is the period of time for which a grantee must keep fiscal records. $800

Return to Board Question: What is 3 years after the grant end date (or five years after grant award)? What is 3 years after the grant end date (or five years after grant award)? $800

Return to Board See Question $1000 This is what happens when a state cannot meet its MOE.

Return to Board Question: What is a reduction in the federal allocation to the state? $1000

Final JEOPARDY!

This what the acronym EDGAR stands for.

What is Education Department General Administrative Regulations? What is Education Department General Administrative Regulations?