Governmental Accounting Standards Board (GASB)
created in 1973 to develop accounting
reporting standards for U.S. state and local
1. Any department, commission, council, board,
bureau, committee, institution, legislative
body, agency, government corporation, or
2. Official of the executive, legislative, or judicial
branch of a jurisdiction.
A contract provision that
allows entities or people to continue to follow
an existing rule, regulation, or law rather than
a newly enacted one.
1. A transfer of federal government funds to
state or local governments to support or
stimulate programs authorized by federal or
state laws in order to accomplish objectives
that are locally defined and managed under a
broad federal or state program.
2. The furnishing of assistance by a jurisdiction,
whether financial or otherwise, to any person
to support a program authorized by law; does
not include an award whose primary purpose
is to procure supplies, services, or
An entity that receives a grant of
monetary funds from a grantor. See also:
A person or institution that provides
funds to support the activities of the grantee.
Something given voluntarily or beyond
obligation, usually for some service (e.g., tip).