50 CFR 80.123 - How may an agency use program income?
(a) A State fish and wildlife agency may choose any of the three methods listed in paragraph (b) of this section for applying program income to Federal and non-Federal outlays. The agency may also use a combination of these methods. The method or methods that the agency chooses will apply to the program income that it earns during the grant period and to the program income that any subgrantee earns during the grant period. The agency must indicate the method that it wants to use in the project statement that it submits with each application for Federal assistance.
(b) The three methods for applying program income to Federal and non-Federal outlays are in the following table:
|Method||Requirements for using the method|
|(1) Deduction||(i) The agency must deduct the program income from total allowable costs to determine the net allowable costs.|
|(ii) The agency must use program income for current costs under the grant unless the Regional Director authorizes otherwise.|
|(iii) If the agency does not indicate the method that it wants to use in the project statement, then it must use the deduction method.|
|(2) Addition||(i) The agency may add the program income to the Federal and matching funds under the grant.|
|(ii) The agency must use the program income for the purposes of the grant and under the terms of the grant.|
|(3) Matching||(i) The agency must request the Regional Director's approval in the project statement.|
|(ii) The agency must explain in the project statement how the agency proposes to use the program income, the expected results, and why it is essential to use program income as match.|
|(iii) The Regional Director may approve the use of the matching method if the requirements of paragraph (c) of this section are met.|
(1) Be consistent with the intent of the applicable Act or Acts; and
(2) Result in at least one of the following:
(ii) The agency substitutes program income for at least some of the apportioned Federal funds, and then uses the saved Federal funds for additional eligible activities under the program; or
(iii) A net benefit to the program.
Title 50 published on 10-May-2017 04:10
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 50 CFR Part 80 after this date.