Program income is any income directly generated by a project during the award period. Examples include conference fees, sale of assets purchased by project funds (e.g. livestock sales), fees for services when the project is providing the service, and sale of items such as books, manuals, software or videos created with project funding (APM Section 45.13). Program income expenses carry the same allowability restrictions as the rest of the budgeted expenses. Any anticipated program income should ideally be estimated at the proposal stage, and shown as an offset to the sponsor's portion of the project budget. Note that one of the possible options for the treatment of program income is to be used as part of any cost share obligation.