This is an annual reminder of the University’s Program Income policy and procedure: https://gao.fo.uiowa.edu/program-income-policy-procedure
Program income is defined as gross income earned by the University that is directly generated by an activity that is funded by a federal sponsored project, or earned as a direct result of a federal sponsored project during the period of performance.
Some examples are:
- Fees earned from services performed, such as laboratory tests
- Sale, rental, or usage fees, such as fees charged for the use of computing or laboratory equipment purchased with sponsored project funds
- Funds generated from the sales of commodities and research materials, such as tissue cultures, cell lines and research animals obtained under the sponsored project
- Conference fees charged when a conference is funded by a sponsored project
- Funds generated from the sale of items fabricated under the sponsored project
Federal Regulations include specific requirements for utilizing and reporting program income.
Each department is responsible for ensuring that any program income related to a Federally funded project in their unit is identified and tracked in a unique General Ledger (WhoKey) account.
If you are aware of program income related to a federally sponsored project or if you have questions about the policy, please contact Grant Accounting.