Statement of Activities definition

Statement of Activities. A GASB GAAP Government‐Wide full accrual financial statement that reports the net revenue of its individual functions, pursuant to GASB 34. An objective of using the net revenue format is to report the relative financial burden of each of the reporting government’s functions on its taxpayers. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Statement of Cash Flows: A GASB GAAP financial statement for proprietary funds that provides relevant information about the cash receipts and cash payments of a government during a period. It categorizes cash activity as resulting from operating, noncapital financing, capital financing, and investing activities. Statement of Net Position: A GASB GAAP Government‐Wide full accrual financial statement, pursuant to GASB 34, that reports the difference between assets and liabilities as net assets, not fund balances or equity. Assets are reported in order of liquidity, or how readily they are expected to be converted to cash and whether restrictions limit the government’s ability to use the resources. Liabilities are reported based on their maturity, or when cash is expected to be used to liquidate them. Net assets are displayed in three components: invested in capital assets, net of related debt; restricted; and unrestricted. Statement of Revenues, Expenditures and Changes in Fund Balances: A GASB GAAP Government Fund (modified accrual) financial statement. Revenue is recognized as soon as it is both measurable and available. Revenue is considered to be available if it is collected within the current period or soon enough thereafter to pay liabilities of the current period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt
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Statement of Activities. A GASB GAAP Government‐Wide full accrual financial statement that reports the net revenue of its individual functions, pursuant to GASB 34. An objective of using the net revenue format is to report the relative financial burden of each of the reporting government’s functions on its taxpayers. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Statement of Cash Flows: A GASB GAAP financial statement for proprietary funds that provides relevant information about the cash receipts and cash payments of a government during a period. It categorizes cash activity as resulting from operating, noncapital financing, capital financing, and investing activities. Statement of Net Position: A GASB GAAP Government‐Wide full accrual financial statement, pursuant to GASB 34, that reports the difference between assets and liabilities as net assets, Statement of Revenues, Expenditures and Changes in Fund Balances: A GASB GAAP Government Fund (modified accrual) financial statement. Revenue is recognized as soon as it is both measurable and available. Revenue is considered to be available if it is collected within the current period or soon enough thereafter to pay liabilities of the current period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to the net pension liability are only recorded when due.
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Examples of Statement of Activities in a sentence

  • Record the Project’s assets, liabilities, revenues, expenses, receipts and disbursements in separate accounts from any other assets, liabilities, revenues, expenses, receipts and disbursements of Borrower so as to permit the production of a Statement of Financial Position, a Statement of Profit and Loss (Statement of Activities), and a Statement of Cash Flows for Borrower in which the activities of Borrower are separately identifiable from the activities of the Operator, unless Borrower is also Operator.

  • A Statement of Financial Position, Statement of Activities, Statement of Changes in Net Assets, and Statement of Cash Flows.

  • All statements required by the Financial Accounting Standards Board (FASB) Statement No. 117, Financial Statements of Not-for-Profit Organizations, should be presented including a Statement of Financial Position, Statement of Activities, and Statement of Cash Flows.

  • CSPs receiving less than $500,000 annually are required to submit: a Statement of Financial Position (Balance Sheet), Statement of Activities (Profit & Loss Statement) and a Statement of Cash Flows.

  • If not required, a copy of the annual Statement of Activities, showing actual results compared to budget; • A copy of Chapter’s Management Letter, if issued; • A copy of Internal Revenue Service Return of Organization Exempt from Income Tax Return (Form 990, 990-EZ or 990-N); and • A copy of Chapter’s State Annual Filing Report.

  • If the organization is For-Profit, provide these financial statements: • Profit and Loss Statement ' • Balance Sheet If the organization is Government or Not-for-Profit, provide ttiese financial Statements: • Statement of Activities • Statement of Net As.sets Also provide the OHS Cost and Budget reports to the Regional Transportation Office which includes all trips, funding, and budgeted expenses for ALL transit programs (DHS, DOT, OCH, private).

  • School‐ wide, classified as accrual, financial statements include: Statement of Net Position, Statement of Activities.

  • The government-wide financial statements (i.e., the Statement of Net Position and the Statement of Activities) report information on all of the activities of the Central County Fire Department.

  • Financial Statements normally include: (1) a Statement of Financial Position or Balance Sheet; (2) a Statement of Activities or Statement of Revenues and Expenses; (3) a Cash Flow Statement; and (4) a Statement of Functional Expenses.

  • Method 2 Charter School shall submit to MPS, within three months after the MPS fiscal year end, unless a written extension of time is granted by MPS, a complete set of audited financial statements, including Statement of Financial Position, Statement of Activities and Changes in Net Assets, and Statement of Cash Flows, together with full footnote disclosure prepared by an independent certified public accountant.