OMB recognizes that financial reporting can be excessive if not centrally managed. Therefore federal agencies usually follow common financial reporting formats. Federal agencies should not impose upon universities forms or frequencies of reporting that go beyond the requirements of OMB Circular A-110.
In most cases, subrecipeint agreements will be to other universities for services similar to those performed by the University (research, instruction, and public service). The subrecipient agreement document will be referenced as either a subcontract, subgrant, or sub-agreement. This determination will be based on the prime award being issued as a contract, grant, or agreement.