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Definition

Program Income is gross income received by the grantee or subgrantee directly generated by a grant supported activity, or earned only as a result of the grant award during the grant period. ‘‘During the grant period’’ is the time between the effective date of the award and the ending date of the award reflected in the final financial report.

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43 CFR 12 Administrative Requirements

12.65 Program Income

a) General. Grantees are encouraged to earn income to defray program costs. Program income includes income from fees for services performed, from the use or rental of real or personal property acquired with grant funds, from the sale of commodities or items fabricated under a grant agreement, and from payments of principal and interest on loans made with grant funds. Except as otherwise provided in regulations of the Federal agency, program income does not include interest on grant funds, rebates, credits, discounts, refunds, etc. and interest earned on any of them.

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(h) Income after the award period. There are no Federal requirements governing the disposition of program income earned after the end of the award period (i.e., until the ending date of the final financial report, see paragraph (a) of this section), unless the terms of the agreement or the Federal agency regulations provide otherwise.

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Frequently Asked Questions

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Program Specific Guidance on Program Income

Wildlife and Sport Fish RestorationClean Vessel Act

Program Income - Clean Vessel Act