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Program revenues
derived directly from the program itself or from parties outside the
reporting government’s taxpayers or citizenry, as a whole; they reduce the
net cost of the function to be financed
from the government’ general revenues. The Statement of activities should separately report three
categories of program revenues: (a)
charges for services, (b) program-specific operating grants and
contributions, and (c ) program-specific capital grants and contributions.
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Charges for
services include revenues based on exchange or exchange-like
transactions. These revenues arise
from charges to customers or applicants who purchase use, or directly benefit
from the goods, services, or privileges.
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Program specific
grants and contributions (operating and capital) include revenues arising
from mandatory and voluntary nonexchange transactions with other governments,
organizations, or individuals that are restricted for use in a particular
program.
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All revenues are
general revenues unless they are required to be reported as program revenues.
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All taxes, even
those that are levied for a specific purpose, are general revenues and should
be reported by type of tax - for example, sales tax, property tax, income
tax, etc.
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