Program income is defined as gross income earned by IU that is directly generated by a supported activity or earned as a result of a federal award during the award’s period of performance.
Handling program income from sponsored programs
What is included in program income?
- Fees for services performed under the award
- Use or rental of real or personal property acquired under federal awards
- Sale of commodities or items fabricated under a federal award
- Principal and interest on loans made with federal award funds
What is not included in program income?
- License fees and royalties on patents and copyrights
- Proceeds from the sale of real property, equipment, or supplies
- Interest earned on advances of federal funds
- Rebates, credits, discounts, and interest earned on any of them unless specified in the award terms and conditions, or regulations.
IU must identify, document, expend, and report program income to the sponsor in accordance with the terms and conditions of the sponsored project. Tracking program income on federal and federal pass-through awards is required under the Office of Management and Budget (OMB) Uniform Guidance.
If you anticipate program income at the time of proposal submission, include that information in your proposal.