Common use of Statement of Operations Clause in Contracts

Statement of Operations. The format for the income statement is shown in Appendix K of the FMG. Revenue from the department for operating and maintenance must be shown as a separate line item from other grants. Locally generated revenue must be subtotalled within the revenue section of the income statement.

Statement of Operations. The format for the income statement is shown in Appendix K – Income Statement of the FMG. Revenue from the department for operating and maintenance must be shown as a separate line item from other grants. Locally generated revenue must be subtotalled within the revenue section of the income statement.