Handling Program Income at Final Project Termination

Federal sponsors:

Federal regulations require the University to use program income funds before sponsor funds. If funds remain in the project or program income account after the project has terminated, balances will revert to sponsor. If the principal investigator wishes to retain these funds, he or she must write a letter to the sponsor requesting to use these funds,  and outlining a plan for their use. The request must be made before the funds are used. This letter must be sent to Sponsored Projects Administration for endorsement and forwarding to the sponsor.

Nonfederal sponsors:

How leftover program income funds are to be handled depends on the sponsor and contract involved.  In the absence of a non-federal sponsor's policy, program income is non-reportable. For further questions, call Sponsored Projects Administration for assistance.

Handling project-related income generated after project termination:

If the principal investigator expects to generate income after the project has terminated, he or she must complete the External Sales Action Form and follow the instructions in the University policy on Selling to External Customers.