Interest Income on Non-federal Grant Balances

The University pays simple interest per annum on a monthly basis on balances in non-federal grants and exchange accounts (Fund numbers in the range 200000 - 299999).  Interest income is credited only to the main account, even for awards with multiple part-of accounts. The income may be used for project-related expenses during the life of the award and (often, but subject to any restrictive terms and conditions) for general expenses after the project ends.  Interest is mixed in with all other income shown on the Period Expense Report but may be seen under income Object Code 4530 on the Detail Listing.

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