Issued April, 2005

Use of Program Income funds.

The federal government requires us to use up our program income before we use their money. You are cautioned to make sure that program income is closely monitored, and those income funds are used before further charges are placed against your federal award.

Citation:

2 CFR 215 (formerly known as A-110)

Section 22.(g)

(g) To the extent available, recipients shall disburse funds available from repayments to and interest earned on a revolving fund, program income, rebates, refunds, contract settlements, audit recoveries and interest earned on such funds before requesting additional cash payments.

4/11/05