45 CFR 1628.2 - Definitions.
(a)Excess fund balance means a recipient's LSC fund balance that exceeds the amount a recipient is permitted to retain under this part.
(b)LSC support means the sum of:
(1) The amount of financial assistance awarded by the Corporation to the recipient for the fiscal year included in the recipient's annual audited financial statement, not including one-time and special purpose grants; and
(2) Any LSC derivative income, as defined in § 1630.2(c), earned by the recipient for the fiscal year included in the recipient's annual audited financial statement, not including derivative income from one-time and special purpose grants.
(c) The LSC fund balance is the excess of LSC support plus the prior year carryover amount over expenditures of LSC funds (including capital acquisitions), as each is reported in the recipient's annual financial statements.
(e)Recipient, as used in this part, means any grantee or contractor receiving financial assistance from the Corporation under section 1006(a)(1)(A) of the LSC Act.
Title 45 published on 2015-11-20.
No entries appear in the Federal Register after this date, for 45 CFR Part 1628.