Types of Deposit

Award Payments

These are the funds received by the university to support an approved award from a sponsoring agency. All award payments (e.g., Invoice Payments, LOC Draws, etc.) for a sponsored project must be deposited to the General Ledger account using the Receipts account code (11330).

This type of deposit should only be used by the Office of Contracts and Grants or with special written permission from the director of Contracts and Grants.

Refund of Expenditures

A refund of expenditure occurs when full or partial payment to a vendor for goods or services has been returned to the university. Deposits for refunds of expenditures are made to the Subsidiary Ledger speed type using the same account code from which the original disbursement was made.

Program Income

Program Income refers to the gross income generated through activities supported by the Federal award during the period of performance. Examples of program income include:

• Fees earned for services performed under the grant.
• Rental or usage fees of real or personal property purchased with award funds.
• Funds generated by the sale of commodities, such as tissue cultures, cell lines,or research animals.
• Income earned from license fees and royalties for copyrighted material, patent applications, trademarks and inventions produced under an award.
• Principal and interest on loans made with award funds.
• Fees received to attend a conference or workshop funded by a sponsored project.

When a sponsored project charges a fee for a workshop or sells publications as stipulated in the award, the funds are considered program income and must be properly accounted for in the financial system.

Deposits of program income are made to account code 53998. Consistent with Federal regulations, program income will be used in one of the following manners:

Contracts and Grants will require the establishment of a segment award that maps to the parent project to better account for and track any program income.