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Business and Financial Policies and Procedures

Program Income Responsibilities

The identification, tracking, and reporting of program income involve a collaborative effort as outlined below.

Principal Investigators

  • Identify amount and sources of actual and potential program income at the proposal stage.
  • Complete required program income sections in the sponsor’s application forms as necessary.
  • Develop plan for using program income.
  • Discuss anticipated program income with the sponsored programs post-award office and unit business manager.
  • Verify program income on reports.
  • Notify the sponsored programs post-award office if unanticipated program income is identified and/or received during the project.
  • Address account balance issues at final project termination.

Unit Business Manager

  • Assist Principal Investigator in estimating program income.
  • Bill properly for products or services which produce program income; reconcile revenue invoiced or submitted against financial reports.
  • Send program income payment checks to sponsored programs post-award office for deposit
  • Verify program income receipt on financial reports.
  • Monitor program income account activity and any restrictions that may be imposed by the awarding agency.

Sponsored Programs Post-Award Office

  • Set up sub-fund for tracking and verify that program income is recorded correctly.
  • Determine whether program income is reportable or non-reportable.
  • Advise Principal Investigators and unit business managers on allowable expenditures charged against program income.
  • Report program income to awarding agency in accordance with award terms and conditions.
  • Advise Principal Investigators and unit business managers on the proper accounting and tracking of program income.

Last Updated: August 18, 2015 | Approved: Senior Associate Vice President for Business and Finance - August 2015

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