Compliance
Grant & Contract Glossary
Program Income is defined as revenue generated as a result of research activity. Program Income activities require prior approval from the sponsoring agency. Office of Sponsored Programs will assist principal investigators in obtaining the appropriate approvals. Upon approval, Office of Sponsored Programs authorizes Grant and Contract Accounting to assign a budget number to the program income account. The program income budget is identified as a sub-account to the grant or contract to which it is associated.
Only revenue generated as a result of the activity for which the account was approved may be deposited into the program income budget. Funds generated as a result of any other activity may not be deposited into the program income account. Unrelated revenue generating activities must have Budget Office approval and are deposited into separate revenue accounts. Expenditures posted to program income budgets must be in compliance with terms and conditions of the designated parent grant.
Treatment of program income varies with each sponsoring agency. For some agencies, program income is treated as additional funding for the research project. Other agencies require a reduction in the award equal to the amount of program income generated. Refer to award document and sponsor regulations for details.
Compliance
Grant & Contract Glossary
