Project income is gross income earned by the Institution that is directly generated by a sponsored activity, or earned as a result of an award. In cases where income is anticipated, it should be reported to the sponsor. Sometimes, the sponsor will reduce the award based on the anticipated project income. At other times, the project income will be used as additional support for the project. The exact disposition of these funds is usually stipulated in the sponsor’s program announcement and/or award guidelines.
The Project Income screen allows you to detail how much income is anticipated by the project by period, as well as the source of the income.
Use the 'Add Income' button to open an entry window and add the desired project income rows by budget period with Description and amount. Once added you can repeat for each budget period or for multiple income types in the same period, as needed.
The added row elements can be edited to make necessary changes/additions and if you want to delete any of the added project income rows you can use the trash can icon on the far right.
The 'View Summary' will open a window view to review the amount added to the table for each period, and a total of all income. Once added you can repeat for each budget period or for multiple income types in the same period, as needed.