09 NCAC 03M .0102. DEFINITIONS

As used in this Subchapter:

(1)           "Agency" shall mean and include every public office, public officer or official (State or local, elected or appointed), institution, board, commission, bureau, council, department, authority or other unit of government of the State or of any county, unit, special district or other political subdivision of government.

(2)           "Audit" means an examination of records or financial accounts to verify their accuracy.

(3)           "Certification of Compliance" means a report provided by the grantor agency to the Office of the State Auditor that states that the grantee has met the reporting requirements established by this Subchapter and included a statement of certification by the grantor agency and copies of the submitted grantee reporting package.

(4)           "Compliance Supplement" refers to the North Carolina State Compliance Supplement, maintained by the State and Local Government Finance Division within the North Carolina Department of State Treasurer that has been developed in cooperation with agencies to assist the local auditor in identifying program compliance requirements and audit procedures for testing those requirements.

(5)           "Contract" means a legal instrument that is used to reflect a relationship between the agency, grantee, and subgrantee.

(6)           "Fiscal Year" means the annual operating year of the non-State entity.

(7)           "Financial Assistance" means assistance that non-State entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance.  Financial assistance does not include amounts received as reimbursement for services rendered to individuals for Medicare and Medicaid patient services.

(8)           "Financial Statement" means a report providing financial statistics relative to a given part of an organization's operations or status.

(9)           "Grant" means financial assistance provided by an agency, grantee, or subgrantee to carry out activities whereby the grantor anticipates no programmatic involvement with the grantee or subgrantee during the performance of the grant.

(10)         "Grantee" has the meaning in G.S. 143C-6-23(a)(2).

(11)         "Grantor" means an entity that provides resources, generally financial, to another entity in order to achieve a specified goal or objective.

(12)         "Non-State Entity" has the meaning in G.S. 143C-1-1(d)(18).

(13)         "Public Authority" has the meaning in G.S. 159-7(10).

(14)         "Single Audit" means an audit that includes an examination of an organization's financial statements, internal controls, and compliance with the requirements of Federal or State awards.

(15)         "Special Appropriation" means a legislative act authorizing the expenditure of a designated amount of public funds for a specific purpose.

(16)         "State Funds" means any funds appropriated by the North Carolina General Assembly or collected by the State of North Carolina.  State funds include federal financial assistance received by the State and transferred or disbursed to non-State entities.  Both Federal and State funds maintain their identity as they are subgranted to other organizations.

(17)         "Subgrantee" has the meaning in G.S. 143C-6-23(a)(3).

(18)         "Unit of Local Government" has the meaning in G.S. 159-7(15).

 

History Note:        Authority G.S. 143C-6-22; 143C-6-23;

Eff. July 1, 2005;

Amended Eff. October 1, 2007.