Arkansas Code Title 19. Public Finance § 19-7-602. Definitions

(1) “Executive Order 12372, Intergovernmental Review of Federal Programs” means an instrument signed and placed into effect by the President of the United States on July 14, 1982;

(2) “Federal funding assistance” means financial aid available from the various federal government agencies to units of state and local governments, as well as to private for-profit and private nonprofit organizations;

(3) “Indirect cost reimbursements” means the reimbursement by a federal agency to agencies of state government for the costs incurred which are necessary for the efficient conduct of a federal grant or contract, as stated in United States Office of Management and Budget Circular A-87, “A Guide for State and Local Government Agencies--Cost Principles and Procedures for Establishing Cost Allocations Plans and Indirect Cost Rates for Grants and Contracts with the Federal Government”;

(4) “Office of Intergovernmental Services” means an organizational unit within the Department of Finance and Administration;

(5) “Revenue sharing” means payments to units of local government as authorized by the State and Local Fiscal Assistance Act of 1972,  1 as amended;

(6) “Review and comment” means the process by which any unit of government, organization, or individual may request to review and provide comments upon any application for federal funding assistance, as limited by other sections of this subchapter; and

(7) “State clearinghouse” means that section of the Office of Intergovernmental Services which is designated as the governmental unit responsible for coordinating the review of applications for federal funding assistance, pursuant to Executive Order 12372 and other provisions of this subchapter.