Current through Register Vol. 54, No. 24, June 15, 2024
Section 1181.273 - Income that will reduce allowable costs(a) Any form of investment income from the use of unrestricted funds will be used to reduce the allowable interest on capital indebtedness first, then other interest. Any form of investment income from the use of restricted funds found to be used for purposes other than their designated purpose, will be used to reduce the allowable interest on capital indebtedness first, then other interest. If restricted and unrestricted funds are commingled, all income to the common fund will reduce capital indebtedness first, then other interest.(b) Grants, gifts and income designated by the donor for specific operating expenses will be used to reduce the allowable costs relating to the specific operating expense.(c) Recovery of insured loss will be used to reduce the allowable costs relating to the insured loss.The provisions of this § 1181.273 adopted August 5, 1989, effective 7/1/1989, 13 Pa.B. 2402.