Laserfiche WebLink
Appendix — Reference Sheet of Frequently Used Guidance Terms <br />This appendix aims to serve as a reference sheet of terms used in this Guidance document. It <br />does not intend to redefine terms used in existing OMB Circulars, and it is meant to interpret this <br />guidance document only. <br />Data quality as used in this Guidance means steps considered to improved accuracy, <br />completeness and timely reporting of information. The data quality reviews required by this <br />Guidance are intended to emphasize the avoidance of two key data problems -- material <br />omissions and significant reporting errors that are also defined in this appendix. <br />Data Elements are the specific pieces of information that will be collected for recipient <br />reporting under the Recovery Act requirements. The data dictionary provided in the <br />supplemental materials to this Guidance lists these elements in a technical nature, and are also <br />highlighted in Section 2 of this Guidance. <br />Direct loan means a disbursement of funds by the Government to a non - Federal borrower under <br />a contract that requires the repayment of such funds with or without interest. The term also <br />includes certain equivalent transactions that extend credit. <br />Expenditures — As defined in the data dictionary provided in the supplemental materials to this <br />Guidance, the amount of Recovery funds received that were used to pay for projects or activities, <br />including payments made to sub - recipients and vendors. <br />Material omissions are defined as those instances where required data is not reported or <br />reported information is not otherwise responsive to the data request and such reporting gaps <br />result in significant risk that the public will be misled or confused by the recipient report in <br />question. In general, material omissions should be minimized by the www.FederalReporting.gov <br />solution, which will require fields to be completed for successful transmission, as well as include <br />edits and cross -edits to ensure data validity. However, a material omission may still occur to the <br />extent submitted data is not responsive to a specific data request. For example, a recipient <br />required to report a description of a purchase made from a vendor may not provide sufficient <br />detail in the description for the reader to derive the nature of the purchase. <br />Recipients required to report to the Federal government are entities, other than individuals, that <br />receive Recovery Act funding as Federal awards in the form of a grant, cooperative agreement, <br />or loan directly from the Federal government. Recipients may be referred to as "prime <br />recipients" in this document to help make the distinction between sub - recipients regarding the <br />roles, responsibilities and reporting requirements. <br />Significant reporting errors are defined are defined as those instances where required data is <br />not reported accurately and such erroneous reporting results in significant risk that the public will <br />be misled or confused by the recipient report in question. An example of this would be a <br />recipient, or sub - recipient who reports expenditures in excess of the amount awarded by the <br />Federal funding agency, excluding funding resulting from match requirements. <br />WV <br />