Policies & Procedures

16.4.3 Program Income Responsibilities

The identification, tracking, and reporting of program income involves 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 office and unit business manager.
Verify program income on reports.
Notify the sponsored programs office if unanticipated program income is identified and/or received during the project.
Address account balance issues at final project termination.

Assist Principal Investigator (PI) in estimating program income.
Bill properly for products or services that produce program income; reconcile revenue invoiced or submitted against financial reports.
Send program income payment checks to sponsored programs 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.