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(1) Transfer of program income to Entitlement program. A unit of general local government that becomes eligible to be an Entitlement grantee may request the state's approval to transfer State CDBG grant-generated program income to the unit of general local government's Entitlement program.
CDBG policies and rules regarding pre-award costs, float funded activities, revolving funds, lump sum draw downs and program income will be detailed. Finally, financial management requirements that pertain to accounting systems, allowability of costs, audits, tracking, and use of program income and pre-award costs limitations will be discussed.
1 paź 2015 · The updated notice adds new exclusions and removes exclusions that are now codified in HUD’s 24 CFR Part 5 income regulations. The exclusions listed in the notice apply to income only, except where HUD states that the exclusion also applies to assets.
(3) Program income. The agreement shall include the program income requirements set forth in § 570.504 (c).
Program Income must be used for CDBG eligible activities that meet a National Objective and is subject to all cross-cutting federal requirements. In this regard, program income works just like CDBG Grant Funds!
This Chapter defines what program income is, explains the required Program Income Plan, and describes requirements for managing, using, and reporting program income to Grants Administration. This Chapter also includes forms for preparing a Program Income Plan and a Program Income Annual Report.
(a) Program income means gross income received by the recipient or a subrecipient directly generated from the use of CDBG funds, except as provided in paragraph (a)(4) of this section.
