Program revenues are revenues that are directly attributable to a specific functional activity. Program revenues include fees collected from those who benefit from the program, grants, and other contributions required by the resource provider to support a specific activity.
What is a special revenue fund?
Special revenue funds—to account for the proceeds of specific revenue sources (other than trusts for individuals, private organizations, or other governments or for major capital projects) that are legally restricted to expenditure for specified purposes.
What does general revenue mean?
Unallocated funds acquired through business and property taxation. Monies that may be utilized for any purposes as received at the state and local levels of government. A state applies funds to a variety of activities, like homeless shelters, as an example. These funds are not governed by law.
Is revenue a income?
Income: An Overview. Revenue is the total amount of income generated by the sale of goods or services related to the company’s primary operations. Income, or net income, is a company’s total earnings or profit.
What kind of revenues are included in a program?
Included in this category of revenues are those resulting from mandatory and voluntary non-exchange transactions with other governments, organizations or individuals that are restricted for use in specific programs. These revenues reduce the net expense of the related program to the reporting government and are designated as either:
When to report program earnings as general revenue?
When earnings on the invested accumulated resources of a program are legally restricted for use by such program, reduce the net cost financed by the government’s general revenue and report the investment earnings as program revenues.
Where does the money for a program come from?
Program revenues either derive directly from the program or from parties outside the reporting government’s taxpayers or citizenry. These revenues reduce the net cost of the function to be financed from the government’s general revenues. The statement of activities separates the three categories of program revenues into:
Which is the best example of general revenue?
Examples of general revenue include: All taxes, even those levied for a specific purpose All other non-tax revenues that do not meet the criteria for classification as program revenues including: Interest not restricted to a specific program. Grants and contributions not restricted to a specific program
