Re: SBA grants / program income Kim Chanley 15 Mar 2005 13:31 EST
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 ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ====================================================================== ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ====================================================================== ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ======================================================================