KUMC Program Income Policy . Certain income may not be required to be reported to federal sponsors, but all program income is required to be reported to KUMCRI’s financial officers. Requirements to report program income to sponsors. Reportable: Program income that is generated while a project is active, to be reported on the Financial Status Report of the primary grant or contract. Not reportable: Program income that is generated after the time period of the award does not need to be reported to the sponsor unless otherwise specified; program income generated as a result of royalties or other income earned from a copyrighted work, patents, or from inventions. Sale of Equipment: If authorized by the sponsor, grantees may use the income from the sale of equipment to pay for allowable costs of the project. Use of Program Income. Per 2 CFR 2. 00 Uniform Guidance, program income earned during the project period shall be retained by the recipient and, in accordance with the Federal awarding agency regulations or the terms and conditions of the award, shall be used in one or more of the ways listed in the following: Additive: Added to the funds committed to the projected by the Federal awarding agency and recipient and used to further eligible project or program objective. Matching: Used to finance the non- Federal share of the project or program. Program Income Policies and Procedures Guidelines November 2008 Prepared By: Ohio Development Services Agency Community Services Division Office of Community Development John R. Kasich, Governor of Ohio Christiane Schmenk. Organizations must submit a Program Income Reporting Worksheet on an annual basis to NSF in order to report program income earned/expended for their awards, where applicable, during the previous twelve months or to validate. March 2016 Page 1 of 3. Boston College: OFFICE FOR SPONSORED PROGRAMS Program Income Policy. The purpose of this policy is to document the Office for Sponsored Programs’ (OSP) Program Income policy for sponsored. Rice University Policy 303 PROGRAM INCOME. Policy Sponsored projects. PROGRAM INCOME POLICY Program Income Office of Research Administration Page 1 ` Policy Sections: Purpose. Program & Interest Income Policy Page 1 of 4 600-026 Program and Interest Income. Policy Number: 600-026. Effective Date: April 3, 2007. Last Updated: April 3, 2007. Issuing Authority: Vice President for Research and Compliance. Deductive: Deducted from the total project or program allowable cost in determining the net allowable costs on which the Federal share of costs is based. If an alternative use of the above is desired, then approval from the sponsor is required. Roles and Responsibilities. Principal Investigators: Disclose in the proposal whether program income may result from the project; If multiple grants are involved, provide the approximate percent of the costs associated with the income generation paid for by each grant; Identify any non- federal source of funds used to produce the income; Identify the fee structure or basis for the expected or actual amount of income; Disclose program income received during the course of the project if not accounted for in the proposal; Detail how program income will be used; Track and confirm program income on financial reports; Inform Sponsored Programs Administration if income is expected after the end of the project. Department: Assist PI in monitoring program income on financial reports; Assist PI in administrative duties, such as invoicing, receiving funds, and recording program income. Post Award Administrator: Confirm that program income has been recorded properly and correctly in financial reports; Set up program income accounts; Determine if program income should be reported to the sponsor and report if required; Monitor departments on invoicing, receiving funds, and recording; Determine if use for program income is allowable; At close out, confirm that any outstanding program income issues have been addressed and resolved. If the program income is determined to not be accountable under the Uniform Guidance, then the income may be deposited in a restricted fee account established through the University Budget Office. Based on the federal regulations, the KUMCRI will provide instructions to the departmental grant administrator (DGA) on the process to be implemented for the management of any amounts determined to be program income. GENERAL STATEMENT This Policy sets forth guidelines for identifying, accounting for, and reporting program income associated with sponsored projects. The Policy applies to all Principal Investigators (PIs), co.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
January 2017
Categories |