Perkins Policies & Procedures
Fiscal Grant Management
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In accordance with the Uniform Administrative Requirements 2 CFR Part 200, §200.307
General. Colleges are encouraged to earn income to defray program costs where appropriate. Income realized from Perkins programs must be rolled back into the program and not the college’s general fund. Program income includes income from fees for services performed, from the use or rental of real or personal property acquired with grant funds, from the sale of commodities or items fabricated in the CTE program. Program income does not include interest on grant funds, rebates, credits, discounts, refunds, etc. and interest earned on any of them.
Accurate accounting of revenue, supplies, material, etc. must be maintained.
Governmental revenues. Taxes, special assessments, levies, fines, and other such
revenues raised by a college are not program income.
Income after the award period. There are no Federal requirements governing the disposition of program income earned after the end of the award period (i.e., until the ending date of the final financial report), unless the terms of the agreement or the Federal agency regulations provide otherwise.
Live work procedures must be adhered to in support of program income.