Common use of Program Income Includes Clause in Contracts

Program Income Includes. Per 2 CFR §200.307, program income includes but is not limited to income from fees for services performed, the use or rental of real or personal property acquired under Federal awards, the sale of commodities or items fabricated under a Federal award, license fees and royalties on patents and copyrights, and principal and interest on loans made with Federal award funds. Interest earned on advances of Federal funds is not program income. i. Except as otherwise provided in Federal statutes, regulations, or the terms and conditions of the Federal award, program income does not include rebates, credits, discounts, and interest earned on any of them. ii. Except as otherwise provided in regulations of the federal or state awarding agency, program income does not include interest on federal grant funds.

Appears in 4 contracts

Samples: Public Transportation Master Grant Agreement, Master Grant Agreement, Public Transportation Master Grant Agreement

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Program Income Includes. Per 2 CFR §200.307200.80, program income includes but is not limited to income from fees for services performed, the use or rental of real or personal property acquired under Federal awards, the sale of commodities or items fabricated under a Federal award, license fees and royalties on patents and copyrights, and principal and interest on loans made with Federal award funds. Interest earned on advances of Federal funds is not program income. i. 1. Except as otherwise provided in Federal statutes, regulations, or the terms and conditions of the Federal award, program income does not include rebates, credits, discounts, and interest earned on any of them. ii2. Except as otherwise provided in regulations of the federal or state awarding agency, program income does not include interest on federal grant funds. Per the Texas Uniform Grant Management Standards, interest earned in excess of $250 on grants from purely state sources is considered program income.

Appears in 2 contracts

Samples: Public Transportation Master Grant Agreement, Public Transportation Master Grant Agreement

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