West Virginia University Policy
Division of Administration and Finance
PROGRAM INCOME POLICY
The purpose of this policy is inform University employees that program income received during a project period must be accounted for in a manner that will permit its identification and treatment consistent with the requirements of the federal sponsor.
This policy applies to all agreements (grants, contracts, and cooperative agreements) administered by West Virginia University, including those on the regional campuses.
Sponsored agreements receiving program income during the project period, must account for such income in a manner that will permit its identification and treatment consistent with the requirements of the federal sponsor. Program income from projects supported by federal agreements will be accounted for in accordance with Federal awarding agency regulations or the terms and conditions of the agreement. This policy is applicable to agreements administered by WVU. The use and expenditure of program income will be used to further eligible projects or program objectives. At the time of proposal submission, the anticipation of program income must be indicated in the proposal. If program income becomes a possibility during the performance of an agreement, immediately notify the Controller’s Office and/or the Office of Sponsored Programs.
Procedure development rests with the Assistant Controller of Sponsored Research and Cost Accounting of the Controller’s Office and the Director of the Office of Sponsored Programs.
RESPONSIBILITY FOR IMPLEMENTATION
All employees are charged with providing full support of this policy. It is the responsibility of the Dean or Director to implement and maintain this policy within their college, department, or unit. The Controller’s Office, at 293-4002 or P.O. Box 6001, is available to answer questions or provide additional information regarding this policy.
RESPONSIBILITY FOR INTERPRETATION
The responsibility for interpretation of this policy rests with the Controller, West Virginia University.
Effective Date: September 10, 1998
Approved By: Scott C. Kelley, Vice President