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15. PROGRAM rNCOME. The subgrantee shall report quarterly all program income as defined at 24 CFR <br />570.500(a) generated by activities carried out with CDBG funds made available under this contract. The use of <br />program income shall comply with the requirements set forth at 24 CFR 570.504. The subgrantee shall use such <br />income during the contract period for activities permitted under this contract and shall reduce requests for <br />additional funds by the amount of any such program income balances on hand. All unused program income shall <br />be returned to the City at the end of the contract period. Any interest earned on cash advances from the U.S. <br />Treasury is not program income and shall be remitted promptly to the City. <br />a. <br />Exhibit E <br />Page 9 of <br />