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