PASS-THROUGH GRANTS Definition

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PASS-THROUGH GRANTS as defined under GASB Statement 24 are grants "received by a recipient government to transfer to or spend on behalf of a secondary recipient" and should be recognized as revenues and expenditures/expenses in a governmental, proprietary or trust fund. The only exception to this requirement is if the recipient government serves only as a cash conduit (i.e., has no administrative or direct financial involvement in the program) in which case the grant should be reported in a GAAP agency fund.

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LONG-TERM INVESTMENTS represents the investments a company intends to hold for over a one year period. For example: real estate, cash, stocks and bonds..

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