• A grant or contract is an agreement formalizing the transfer of money or property from a sponsor in exchange for specified services (e.g., research and development), sometimes including proprietary rights to and products derived from the services, and including financial and/or technical reporting by the recipient as to the actual use of the money or results. The agreement is enforceable by law, and performance is usually to be accomplished within a specified time frame, with payment being subject to revocation for cause.
• A gift or donation is a voluntary and irrevocable transfer of money, services or property (e.g., equipment, personnel time and skill, etc.) from a donor without any expectation of or receipt of direct economic benefit or provision of goods or services from the recipient.

Budget Period: The period of time during which a particular increment of funding can be used

Commitments: Project funds that have been set aside in anticipation of expenditures. Project funds are committed when payroll appointments, requisitions, subcontract requests, etc. are processed. The costs are actually charged to the project when the person is paid, when the equipment or supplies are received or when subcontractor invoices are approved for payment.

Cost Sharing: Institutional or third party contributions to a sponsored project. Cost sharing may be required (e.g., for many equipment or renovation grants) or voluntary. If cost sharing is included in a proposal (e.g., faculty time is listed as without cost [WOC] to the project) that cost sharing must be posted to the project account for federally funded projects

Expenditures: Costs that have been charged to sponsored projects accounts to pay for personnel, travel, supplies, etc.

F&A Rate (indirect costs): Facilities and Administrative Cost Rate. F&A costs are those costs (e.g., libraries, information technology, heating and lighting, etc.) that cannot easily be allocated to individual projects. F&A costs are charged to projects as a percentage (the F&A rate) of the specified direct cost base. At Keene State College the federally approved F&A rate of 47.3% is applied to costs associated with salaries and benefits.

Human Subject: A Human Subject is a living individual about whom an investigator (whether professional or student) conducting research obtains

1. Data through intervention or interaction with the individual, or
2. Identifiable private information

IRB: Institutional Review Board

Personnel: Individuals who work on sponsored projects.

PI: Principal investigator

PO: Purchase order

Project: A planned scholarly or service activity. Sponsored projects are funded from a source outside the College.

Proposal: A request for funding submitted to an external funding agency

RFP: Request for Proposals

Sponsor: An external agency that provides funding for a College scholarly activity or service program

Start Date: Start date of sponsored project activity

Subcontracts: A subcontract may be required if part of the research effort under a grant or contract is to be performed by another organization. If the subcontract is part of a proposal to a federal sponsor or from federal funds, please work with the Director of Research and Sponsored Projects to determine whether the subcontractor should be treated as a Vendor or Subrecipient. Making the appropriate decision before proposal submission can avoid problems after the project is funded. Subcontracts are always awarded to an organization or institution, not to an individual. KSC project employees cannot have financial interests in any organization receiving a subcontract. If an individual not affiliated with an organization is doing part of the work, that individual must be paid as a consultant.

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