Program Income
Program income is gross income received by the grantee/ subgrantee directly generated by a grant supported activity, or earned only as a result of the grant agreement during the grant period. It includes income from:
- Fees for services performed
- Use or rental of real or personal property acquired with grant funds
- Sale of commodities or items fabricated under the grant agreement
Costs related to the generation of program income may be deducted from gross income to determine program income.
Program income earned must be used to defray program costs. Normally, this income must be deducted from the outlays to be invoiced to the grantor, reducing grant revenue received. A separate fund must be established to track program income for reporting. For more information on program income, see HSC OP 65.05.
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Contact
Accounting Services
-
Address:
3601 4th Street STOP 6274 | Lubbock, Texas 79430-6209 -
Phone:
806.743.7826 -
Email:
hscacc@ttuhsc.edu