Hi Ted,
I've reviewed the citation you referenced in A-110 and it's a bit
confusing to me. Is the proper interpretation that we are required to
expend program income earned prior to requesting reimbursement from
federal funds? What about those cases in which the program income is
used as match?
thx
kim
Kimberly Chanley
Manager
Sponsored Projects Accounting
Boise State University
208.426.1791
>>> xxxxxx@U.WASHINGTON.EDU 3/14/2005 2:27:21 PM >>>
SBA grants / program incomeBarb,
It is interesting you would bring up this topic right when we are
re-writing our policy & procedure for program income. From the federal
sites I have reviewed including A-110, I find no mention of the status
of unexpended revenue received during the award period. I attribute
this to the assumption that all revenue received during the award period
will be expended during the award period.
One university web site I reviewed referred to program income as the
property of the sponsor. I do not recall reviewing a policy that
allowed retention of program income received during the award period.
They all required that program income be expended before award funds are
expended. In that way you would have an unexpended balance on the award
account rather than in the program income account and no refund to the
sponsor would be required. In addition you maintain compliance with
A-110 payment standards which require that program income revenue be
expended prior to requesting federal funds (A-110, .22, g).
So in response to your question, I would say that unless an authorized
SBA official provided alternate written provisions, the program income
should be returned to SBA.
Ted Mordhorst
Assistant Director for Compliance
Grant and Contract Accounting
University of Washington
3905 University Way NE
Seattle, WA 98105-6692
206-616-8678
xxxxxx@u.washington.edu
----- Original Message -----
From: Bushnell, Barbara
To: xxxxxx@HRINET.ORG
Sent: Friday, March 11, 2005 11:15 AM
Subject: [RESADM-L] SBA grants / program income
Hi,
If a federal grant for a Small Business Development Center ends, does
the use of the program income end the same day as the grant? If there
is nothing specified in the agreement, does the remaining program income
get returned to SBA?
Thanks!
Barb
Barb Bushnell
Coordinator, Accounting
University of South Florida
College of Business Administration, BSN 3403
4202 East Fowler Avenue
Tampa, FL 33620
Phone: (813) 974-3270
Fax: (813) 974-3030
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