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by the grantee directly generated by a grant supported activity, or earned only as a result of the grant <br />agreement during the grant period. Grantees are encouraged to earn income to defray program costs. <br />Except as otherwise provided in regulations of the federal agency, program income does not include <br />interest on grant funds, rebates, credits, discounts, refunds, etc. and interest earned on any of them. <br /> – <br />INDIRECT COST PLAN <br />The City of Eugene’s Indirect Cost Plan is developed to identify <br />and distribute costs of services provided by support organizations (such as Finance, Information <br />Services, and Human Resources) to departments/divisions administering Federal grants or <br />contracts and includes the annual Federal Indirect Cost Rate that has been approved by the City’s <br />Cognizant Agency (U.S. Department of Housing and Urban Development). <br /> – <br />SUBRECIPIENT MONITORING <br />If applicable, on an annual basis, department staff will <br />monitor the activities of subawards as necessary to ensure that federal awards are used for <br />authorized purposes in compliance with laws, regulations, and the provisions of contracts or <br />grant agreements and that performance goals are achieved. <br /> - <br />GRANT FILE <br />The official grant file is maintained in the grant recipient department and at a <br />minimum should include copies of the following: <br />Grant application <br />Signed grant award <br />Supporting expense documentation (invoices, receipts, timesheets) <br />Reimbursement requests <br />Financial reports <br />Performance reports <br />Close out report <br />Disposition records of any purchased equipment <br />RECORD RENTENTION - <br />Grant records must be maintained for 3 years (or required <br />retention period on the grant agreement) following the submission of the final expenditure <br />report or until all issues resulting from litigation, audit/audit resolution, or claims have been <br />resolved, whichever is longer. <br />GRANT CLOSE-OUT <br />Upon completion of the grant term of each grant award, the recipient department shall alert the <br />Finance Grant Coordinator to place the grant and/or project in an inactive posting status. <br />Financial Policies and Procedures Manual 10/2008 <br />I_Grant Management.docx <br /> <br />