IPROCUREMENT ACRONYM DEFINITIONS

Question 1

PR Package

Answer 1

PR stands for Purchase Request. This will be developed outside the financial system.

Question 2

PAR

Answer 2

PAR stands for Post Award Request. PARs are commitment documents, which are used to initiate modifications to awards. A PAR can only be created on an Award with a status of Approved. PARs are created for administrative changes, changes in scope, funding changes, and de-obligations.

Question 3

CLM

Answer 3

CLM stands for Contract Lifecycle Management, which is a contract writing system designed by Oracle to address the Federal Government’s acquisition requirements.

Question 4

FSMS

Answer 4

FSMS stands for Financial Systems Modernization Solution (FSMS). FSMS is an integrated, financial management and procurement system.

Question 5

POET

Answer 5

POET stands for Project Code, Organizational Element, Expenditure Type, and Task Code. Project code is used for groups of related tasks that are together. An Organizational Element is used for the benefiting unit of a purchase. Expenditure Type is used to classify budget category. A Task Code is used to store funds that are available for obligation. The POET aligns with the USCG Line of Accounting (LOA).

Question 6

LOA

Answer 6

LOA stands for Line of Accounting. Line of Accounting (LOA) is the funding associated with a USCG budget. The LOA is verified by the Funds Certifier and aligns with the FSMS POET.

Question 7

FRMM

Answer 7

FRMM stands for Financial Resource Management Manual. This manual establishes Coast Guard financial management and administration policy, including responsibilities timetables, and procedures.

Question 8

CGAP

Answer 8

CGAP stands for Coast Guard Acquisition Procedures. This manual establishes Coast Guard acquisition policy in accordance with the Federal Acquisition Regulation (FAR), DHS Acquisition Regulation (HSAR), Homeland Security Acquisition Manual (HSAM), and other related Federal and agency contracting guidance.

Question 9

SAP

Answer 9

SAP stands for Simplified Acquisitions Procedures. The SAP manual establishes Coast Guard acquisition policy in accordance with the Federal Acquisition Regulation (FAR), DHS Acquisition Regulation (HSAR), Homeland Security Acquisition Manual (HSAM), and other related Federal and agency contracting guidance.

Question 10

FRMM-P

Answer 10

FRRM-P stands for Financial Resource Management Manual – Procedures. This manual establishes additional high level and interim financial management procedures based on the policies contained within the FRMM.

Question 11

FAR

Answer 11

FAR stands for Federal Acquisition Regulation. The FAR is the primary regulation for use by all executive agencies in their acquisition of supplies and services with appropriated funds.

Question 12

HSAR

Answer 12

HSAR stands for Homeland Security Acquisition Regulation. The HSAR establishes uniform acquisition policies and procedures, which implement and supplement the Federal Acquisition Regulation (FAR).

Question 13

MPT

Answer 13

MPT stands for Micro Purchase Threshold. MPT allows for $10,000 for goods, $2,500 for services and $2,000 and construction.

Question 13

HSAM

Answer 13

HSAM stands for Homeland Security Acquisition Manual. The HSAM establishes the Department of Homeland Security’s uniform department-wide acquisition procedures, which implement or supplement the Federal Acquisition Regulation (FAR) and the Homeland Security Acquisition Regulation (HSAR), and other agency regulations and statutory requirements.

Question 14

SAT

Answer 14

SAT stands for Simplified Acquisition Threshold. SAT is above $250,000.

Question 15

OPFAC

Answer 15

OPFAC stands for Operating Facilities Address Codes which is a five-digit facility identifier on the PR numbering structure.

Question 16

GL

Answer 16

GL stands for General Ledger. This is the date of payment.