Definitions for "Formula Grant"
Keywords:  categorical, award, rsg, aef, fss
Federal assistance to local governments in accordance with a distribution formula established by law or regulation. The actual payment is usually based on such factors as: population characteristics, per capita income, substandard housing, or rate of unemployment. Formulas indicate the total of which recipients are entitled if the requirements, regulations or other criteria of law are met. Also see categorical grant or block grant.
categorical grants awarded to states and municipalities in which the amount is determined by plugging statistics into a specific formula.
an award that is based on a predetermined formula and is given non-competitively