What is program income in SAP PSM-GM - Grants Management?

SAP Term: program income

• Component: PSM-GM

• Component Name: Grants Management

• Description: Gross income earned by a grantee organization that is generated directly by grant-supported activities or earned as a result of a grant award. Examples include income from services performed, the use or rental of real or personal property acquired using a grant, the sale of commodities or items fabricated under an award, and license fees and royalties on patents and copyrights.

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• Key Concepts: 
  Program income is a term used in the SAP Grants Management (PSM-GM) component to refer to the income generated from activities related to a grant or cooperative agreement. This income can be generated from the sale of goods or services, the use of real or personal property, or the use of intangible property. 
  
  How to Use It: 
  In SAP Grants Management, program income is tracked and managed in the same way as other grant funds. Program income can be used to cover costs associated with the grant, such as salaries, supplies, and equipment. Program income can also be used to supplement other grant funds. 
  
  Tips & Tricks: 
  When tracking program income in SAP Grants Management, it is important to ensure that all program income is properly accounted for and reported. It is also important to ensure that program income is not used for any purpose other than what was originally intended. 
  
  Related Information: 
  For more information on program income and how it is managed in SAP Grants Management, please refer to the SAP Help documentation.