View policy pdf: Program Income Policy
The University of Georgia requires Principal Investigators (PI) to identify and document program income on projects from both federal and non-federal sponsors. The nature of this income must be appropriately documented and the resulting revenue properly recorded. This income must be sent to the Post Award Accounting for deposit into the appropriate account. This policy and its procedures address the definition, management, reporting, and monitoring of program income, in accordance with federal and University requirements. Excluded from program income reporting requirements are:
revenue generated through programs funded by sources other than sponsored projects, royalty income resulting from copyrights unless addressed in the award terms, and royalties or license fees for unpatented, but potentially patentable discoveries that are disclosed to the Technology Commercialization Office.
income received on non-federal awards that are silent on program income.
Responsible University Senior Administrator: Vice President for Finance & Administration
Responsible University Administrator: Associate Vice President for Finance Division
Policy Owner: Post Award Accounting
Policy Contact: Gail Chester
Phone Number: 706-542-9230
Responsibilities: Principal Investigator - Identify sources of actual and potential program income at the proposal stage and mark 'yes' to the program income question on the Sponsored Program Transmittal Form. Complete required program income sections in application. Determine whether it is reportable to the sponsor and seek advice, if necessary, from the Office for Sponsored Programs. Prepare plan for using program income. Discuss anticipated program income with the department administrator. Provide information regarding budget categories for program income account establishment. Verify program income on reports. At final project termination, address account balance issues.
Department Administrator - Invoice for product or service. For cash, deliver to Post Award Accounting for deposit. Verify program income receipt on financial reports. Redistribute program income revenue in spending categories. Monitor expenditure levels in project to ensure that program income is spent first. Provide administrative assistance to the Principal Investigator, including initiating collections actions for unpaid invoices. Verify program income reported on financial reports submitted by Post Award Accounting to the sponsor. At project termination, handle revenue earned after the grant period has ended as a departmental sales and service activity.
Office for Sponsored Programs - Review proposal and Transmittal Form for anticipated program income, and determine whether it is reportable or non-reportable.
Post Award Accounting - Set up appropriate restricted program income account. Monitor levels of program income in account and any limits that are set by the sponsor. Deposit program income checks and prepare necessary budget documents. Monitor spending to ensure program income is spent first. Report program income as required by sponsor.