Cost Accounting Standard (CAS) 9905.501 requires consistency estimating, accumulating and reporting costs. It is necessary that there be consistency in the methods used to accumulate and report program income for sponsored agreements.
Per 2 CFR 200 and 48 CFR CAS 9905.501; Consistency throughout the University must be maintained in the accounting for and reporting of costs, including those for sponsored agreements. Program income as defined in this guideline refers only to that income earned as a result of an award or as a sponsored activity. This includes fees for services performed during the grant period, proceeds from the sale of property, usage or rental fees, and patent or copyright royalties.
200.307 Program Income – Non-federal entities are encouraged to earn income to defray program costs where appropriate.
To provide information about the treatment of program income for sponsored agreements. The University of Florida must comply with the requirements of the Uniform Guidance 2 CFR 200 and the related Cost Accounting Standard CAS 9905.501.
Responsibility for following these guidelines lies primarily with the Principal Investigator (PI) and their staff to anticipate and correctly record the receipt of program income as well as notify the Contracts and Grants Office immediately.
The University of Florida administration is responsible for guidance and training and for ensuring compliance through periodic internal and external audits.