Expenditures And Revenues Matrix And Summary

1010 Words Nov 24th, 2014 5 Pages
Expenditures and Revenues Matrix and Summary
Introduction
Lynch and Smith, 2004 state that, a budget is a design for the achievement of programs linked to purposes and goals within a certain time period, comprising an approximation of assets required, together with an estimation of the resources obtainable, usually associated with one or more past eras and showing future requirements.

State and local administrations is truly big commerce. Patton, Allison, Shoulders, Freeman and Smith, Jr., 2011 state that, The 50 states and eighty-seven local governments within the United States service more than 17 million people almost six times the federal government civilian workers and spend more than 1.8 trillion every twelve months. Even though the federal government accounts for over half of all government expenses, local and state government spend more for nondefense resolutions than does the federal government.
Revenues and Expenditures
Commercial dictionary 2014, describes revenue as the income produced from sale of merchandises or services, or any other use of principal or assets, related with the main processes of an industry before any costs or expenditures are subtracted. Revenue is shown typically as the top element in an income (loss and profit) declaration from which all costs, expenses, and charges are subtracted to reach at net income. Expenditures documented in governmental fund financial reports are net financial possessions expended during a time period for existing…
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