Program income is gross income received that is directly generated by a project funded by Federal, State or other resources during the grant period. Program income includes, but is not limited to, income from: fees for services, or sale or rental of real or personal property acquired with grant funds, except as otherwise provided in the awarding agency’s regulations. Unless specified in the awarding agency’s regulations, program income may be used in one of three methods: deducted from expenses, added to the project budget, or used to meet matching requirements. [Res. 2021-02-015 § 2 (Att. 1), 2021.]