formula grants

English - English

Definition of formula grants in English English dictionary

funds made available to the school district based on a formula prescribed in legislation, regulations, or policies of the agency; formula grants are non-competitive

Formula grants are funds that are distributed by one level of government to another based on stated criteria, using such factors as documented needs per capita income, local government fiscal or tax effort, etc to determine the amount transferred

Related Terms

formula grant

Federal assistance to local governments in accordance with a distribution formula established by law or regulation The actual payment is usually based on such factors as: population characteristics, per capita income, substandard housing, or rate of unemployment Formulas indicate the total of which recipients are entitled if the requirements, regulations or other criteria of law are met Also seecategorical grant or block grant

formula grant

Funding that the Department is directed by Congress to make to eligible applicants, for which the amount is established by a formula based on certain criteria that are written into the legislation and program regulations Formula grants are directly awarded and administered in the Department's program offices

formula grant

A grant for state and/ or federal funds to a state or school district, the amount of which is determined by a formula included in the legislation Such grants must be applied for, and the state or school district is usually required to submit to the funding agency data to support its entitlement, an acceptable plan for use of funds, and assurance of compliance with state and/ or federal laws and regulations

formula grant

(federal) - Grant in aid which provides funds to states, localities, based on a particular formula (e g , poverty rate, number of elderly in population) FY (Fiscal Year ) Funding and budgeting cycle; e g , the fiscal year of the U S federal government is October 1 to September 30

formula grant

A grant that the Department is directed by Congress to make to grantees, for which the amount is established by a formula based on certain criteria that are written into the legislation and program regulations; directly awarded and administered in the Department's program offices

Hyphenation

for·mu·la grants

Turkish pronunciation

fôrmyılı gränts

Pronunciation

/ˈfôrmyələ ˈgrants/ /ˈfɔːrmjələ ˈɡrænts/