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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.
Program income means gross income that is directly generated from a CDBG-funded activity. Program Income may flow back to the Entitlement community or its subrecipients. Program income is subject to the CDBG rules in perpetuity . Some examples of Program Income include: • Payments of principal and interest on loans made using CDBG funds;
Program Income is defined in federal regulation at 24 CFR 570.489 (e) which specify that program income is the gross income received by the jurisdiction that has been directly generated from the use of CDBG funds.
This chapter provides an overview of all of the requirements applicable to the financial management of the CDBG Program. Administrative and planning costs including those costs that are eligible under other categories of eligibility will be covered. CDBG policies and rules
Program Income Defined. ‘’Program income'' is defined as gross income generated from the use of CDBG-DR or CDBG-MIT funds received by a State, local government, or a subrecipient of a State or local government. Program income includes funds in excess of $35,000 received in a single year.
In some cases, such as the national objective of limited clientele, community development grantees may choose to use a verifiable self-certification to document the annual income of beneficiaries for the Community Development Block Grant (CDBG) program.
•How are charges to your CDBG program for salaries and wages documented? •Are there sufficient records maintained by your subrecipients to demonstrate compliance with CDBG program requirements?
