Excess Program Income Clause Samples
The Excess Program Income clause defines how income generated from a program that exceeds a predetermined threshold is to be handled. Typically, this clause specifies the procedures for identifying, reporting, and distributing any surplus income, such as whether it must be returned to the funding agency, reinvested in the program, or shared among stakeholders. Its core function is to ensure transparency and proper allocation of funds when program revenues surpass expectations, thereby preventing disputes and ensuring compliance with funding requirements.
Excess Program Income. Program income earned in excess of the amount needed to finance the Awardee share must be added to funds committed to the project by the Corporation and the Awardee and used to further expand eligible program activities and objectives.
Excess Program Income. Program income earned in excess of the amount needed to finance the Awardee share must be deducted from the total claimed costs. Awardees that earn excess income must specify the amount of the excess in the appropriate field on the Federal Financial Report.