Effective Date Supersedes 09/01/13 Issuing Authority Sponsored Programs Administration Responsible Officer Assistant Vice President for Sponsored Programs Administration
It is the policy of New York University (NYU, “the University”) that program income must be identified and tracked in accordance with federal and other sponsor requirements. Program income is gross income earned by the recipient that is directly generated by a supported activity or earned as a result of a sponsored award. 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 Federally funded projects, the sale of commodities or items fabricated under an award, and principal and interest on loans made with award funds.
A project may have program income as a result of providing services to other organizations and/or from the sale of items developed under the award. When NYU engages in such activities, program income must be accounted for in the manner prescribed by sponsor regulations and NYU’s Policy.
Federal awards that contain program income will usually contain terms and conditions specifying how the program income should be used. The various options for the application of program income are shown below. In the rare cases where the application of program income is not defined in the terms and conditions of the agreement, recipients should use the default methodology defined in option 2, Addition. Please note that the Federal awarding agency may distinguish between income earned by the recipient and income earned by subrecipients and between the sources, kinds, or amounts of income.
For non-Federal awards, stipulations around program income should be addressed in the sponsor’s terms and conditions or by contacting the sponsor through OSP.
Proceeds from the sale of property shall be handled in accordance with the requirements of the Property Standards
as defined in OMB Uniform Guidance, Sections 200.317 to 200.326
The purpose of this policy is to set forth the circumstances for identifying and tracking program income in accordance with Federal and other sponsor requirements.
This policy is applicable to all schools, departments, units and personnel of the University involved in administering sponsored awards.