One recovery dollar goes through several different steps on its way to stimulate our economy and create or save jobs. People use different terms to clarify how that dollar is accounted for in that process. Here are the terms we use:
Note: the terms below represent a mix of state-specific and recovery.gov-specific terms and definitions.
Agency Recovery Plans - Descriptions of state agency broad Recovery Act goals, initial grant applications, accountability and communication efforts, and risk mitigation activities.
Award - A contract, grant, or loan.
Awarded - Recovery money that has been awarded to state or local entities by the federal government.
Direct Payments - Financial assistance from the federal government provided directly to individuals, private firms, and other private institutions. An example is the Recovery dollars given directly by the federal Department of Energy for Hanford Nuclear Reservation clean-up.
Estimated - The amount of recovery dollars that Washington state expects to receive from the federal government, based on either preliminary federal allocations or pending competitive grant applications.
Fiscal Year (FY) - The state fiscal year runs from July 1 to June 30 of the following calendar year.
Grant - An award of financial assistance from a federal agency to a recipient to carry out a public project or service authorized by a law of the United States. Federal grants are not federal assistance or loans to individuals.
Loan - The temporary provision of funds from a federal or state agency to a recipient.
Prime Recipients - Are non-federal entities that receive Recovery Act funding as federal awards directly from a federal agency. The Prime Recipient is responsible for reporting of all data required by Section 1512 of the Recovery Act.
Project - A specific activity of an award. (Awards are comprised of contracts, grants, and loans.)
Spent - Money that has actually left the government’s bank account and entered the economy.
Sub Recipients - Are non-federal entities that are awarded Recovery funding through a legal instrument from a prime recipient. Sub recipients typically receive a contract, grant, or loan from the prime recipient to support performance of any portion of a project or program funded with Recovery dollars. A prime recipient may delegate responsibility to its sub recipient to report information into FederalReporting.gov.
USAspending.gov - Collects information on federal contracts, grants, loans, and spending across agencies.
Vendor - A dealer, distributor, merchant, or other seller providing goods or services for a federal program. Prime-recipients and sub-recipients may purchase goods or services needed to carry out the project or program from vendors.