Presidential allowance? (5)
I believe the answer is:
grant
'allowance?' is the definition.
(both can mean money given to someone)
I can't explain the rest of the clue.
Can you help me to learn more?
(Other definitions for grant that I've seen before include "Present" , "Monetary aid" , "Formally give (a right)" , "Bestow; bursary" , "cash received" .)