Local government grants and contracts (revenues)

What is Local government grants and contracts (revenues) ?

Local government grants and contracts (revenues) meaning Revenues from local government agencies that are for training programs and similar activities for which amounts are received or expenditures are reimbursable under the terms of a local government grant or contract. These amounts can be treated as an allowance, an agency transaction, or as a student aid expense in the institution’s General Purpose Financial Statements (GPFS) and are reported differently depending on their treatment. Generally, however, private institutions report these grants as allowances when applied to the student’s account and as local grant revenues when received.

 

reference: IPEDS Data Collectrion System – Glossary

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