Disposition of Program Income. At the end of the fiscal year, Lead may require remittance of all or part of any program income balances (including investments thereof) held by the Operator. (24 C.F.R. 570.504 AND 24 C.F.R 84.24) H. Reversion of Assets. (24 C.F.R. 570.503(b)(8)) Where Contract funds are distributed pursuant to this Contract, then upon expiration of the Contract, the Operator shall transfer to the Lead any Contract funds on hand at the time of expiration and any accounts receivable attributable to the use of Contract funds.
Disposition of Program Income. Program Income generated under this Award may only be used to reduce the Federal share of the project. On each SF 425 You submit You must note all Program Income earned and expended during that reporting period. For further guidance regarding Program Income, see 2 C.F.R. § 215.24 or 13 C.F.R. § 143.25, as appropriate. Include the appropriate C.F.R for this reference
Disposition of Program Income. As provided under 24 CFR 570.504, PNA shall either
(i) remit to the City any program income it receives during the fifteen-year term of this Agreement or (ii) retain program income and use it for program purposes in compliance with all applicable regulations and requirements. Program income is as defined under 24 CFR 570.500.
Disposition of Program Income. Contractor shall, within thirty (30) days of the expiration of this AGREEMENT, transmit to LAHSA any, and all, Program income directly generated by funds provided by this AGREEMENT. Program Income is defined in 24 C.F.R. § 85.25. Any program income on hand when the AGREEMENT expires, or received after the AGREEMENT expiration, shall be paid to LAHSA.
Disposition of Program Income. Program Income generated under this Award must be added to the Project Funds and used to further eligible project or program objectives. In addition, on SBA Form 2113-Program Income and worksheet you submit you must note all Program Income earned and expended during that reporting period. A self-populating excel worksheet to the SBA Form 2113-Program Income may be obtained from the OSBDC website at xxx.xxx.xxx/xxxxxxx/xxxx-xxxxx-xxx-xxxxxxxxxx. For further guidance regarding Program Income, see 2 C.F.R. Subpart D §200.307.
Disposition of Program Income a. CITY shall inform COUNTY on a semi-annual basis regarding any income generated by the expenditure of CDBG funds received by CITY under this AGREEMENT. All such program income shall be retained by CITY and shall be used only for eligible activities in accordance with all applicable CDBG requirements and regulations. Consistent with CDBG regulations, the CITY reserves the right to use twenty percent (20%) of program income earned in the program year for General Administration. and fifteen percent (15%) of said program income earned in the prior year for public service activities
b. All program income generated by the expenditure of CDBG funds that is retained by COUNTY shall be used by COUNTY for eligible activities in accordance with all applicable CDBG requirements and regulations.
c. Any income generated by CITY or COUNTY from the disposition or transfer of real property prior to any close out or change of status shall be treated as program income. COUNTY shall be responsible for monitoring and reporting to HUD on the use of any such program income. CITY shall engage in appropriate record keeping and reporting to the COUNTY as required by the COUNTY for this purpose.
d. In the event of CDBG close-out or the change in status of CITY under the CDBG program, any program income generated from CDBG funds paid to CITY pursuant to this AGREEMENT that is unexpended on the date of such close out or change in status or that is received by CITY shall be paid by CITY to COUNTY. However, if CITY resumes direct CDBG entitlement status CITY may keep program income generated from CDBG funds or the disposition, sale or transfer of real property improved with CDBG funds paid to CITY under this AGREEMENT; provided, that it uses that program income for a CDBG eligible purpose and such use is in accordance with CDBG regulations. Any income generated from the disposition or transfer of real property prior to any such close out or change of status shall be treated the same as program income.
