---
kind: "section"
citation: "7 C.F.R. § 550.117"
title: "7"
number: "550.117"
heading: "Program income."
url: "https://uscodex.org/cfr/7/550.117"
---

# §550.117. Program income.

- (a) **Use of program income.**
  - (1) Program income earned must be added to the non-assistance cooperative agreement, unless otherwise specified in the award.
  - (2) When specified in the award, program income can be used towards fulfilling the cooperator's resource contributions for the same award.
- (b) **Disclosing program income.** The Cooperator must disclose program income in financial reports. Refer to [§ 550.123](/cfr/7/550.123.md) of this part.
- (c) **Program income closeout.** The REE Agency and the Cooperator will negotiate appropriate uses of income earned balances, after the period of performance, as part of the agreement closeout process.

## Notes

### Authority

Authority: Section 1472(b) of the National Agricultural Research, Extension, and Teaching Policy Act of 1977, as amended (7 U.S.C. 3318(b)).

### Source

Source: 81 FR 69999, Oct. 11, 2016, unless otherwise noted.