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.
OPTIMAL PRICE is the profit maximizing price. It can be determined through various methods, but generally it is the demand price for the full capacity output of any given product.
FISCAL POLICY is U.S. Federal policy with respect to spending and taxation as determined by the Congress and the Administration.
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