non-operating revenues means the proceeds of any financing undertaken by ne lp, ne llc or the company, distributions made by the partnerships to ne lp or ne llc with the proceeds of any financing or with funds required to be used for the extraordinary mandatory redemption of the bonds under section 3.09 hereof and any other extraordinary revenues Licenses and permits are generally exchange or exchange-like transactions. Non-operating revenue means revenue not directly related to the entity 's ongoing or principle operations. The pilot project with DOT has been extended another year to explore the possibility of an alternative reporting process to the existing Street/Road Finance Report required to filed to DOT for cities and counties. Specific legal reporting requirements are contained in reporting part of this Manual. You make sales frequently, but you might not consistently earn money from side activities. 518.65 Impact Fee Distributions to Local Governments - General Fund and Special Revenue Fund use only. These may include revenues from investments, such as dividends earned on stock held in other companies, or income from notes or credit extended to customers. Added information that the requirement to report defined contribution plans is only when the government contributes. 3.3.9.40 Added information that is required to be recorded for each capital asset, and clarified some of the tracking system requirements. Net operating loss means a loss incurred by a person in the operation of a trade or business. Added a matrix to summarize the disclosure requirements for governments own abatements and abatements of others. They are derived from other sources, such as interest on investments, gains from foreign exchange, write-down of assets, and gains on the sale of assets. Code 200 - Debt Service Funds should be used to account for and report financial resources that are restricted, committed, or assigned to expenditure for principal and interest. What are non-operating expenses? Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Teaching how to budget is outside the scope of the BARS. Added guidance for options for accounting for replacements; Moved all the guidance for componentization primarily to this section. Nonoperating revenues are also described as incidental or peripheral. It should include column headings. A minimum variance requirement within $1,000 added summarizing Schedule 01 funds reported. Local school operating revenue means school operating taxes levied under section 1211 of the revised school code, MCL 380.1211. Based on this, we can work out the total annual revenue of CoffeeBean. Such operations are called non-operating activities, and revenue generated from them is called non-operating income. If a retail store invests $10,000 in the stock market, and in a one-month period earns 5% in capital gains, the $500 ($10,000 * 0.05) would be considered non-operating income. Fixed budget Those budgets which set an absolute maximum or ceiling on the expenditures of a particular fund, department, or other specific category. Most of these worksheets do not need to be submitted as part of the annual report, but they must be available for audit. The note was revised to make the disclosure easier by adding tables and additional samples of text. According to merriam-webster nonwork is an actual word, wih the exact meaning you just defined.The only differnce is, that it is written together, without the "-" symbol. INDONESIA : Net Operating Margin (NOM) merupakan rasio yang menggambarkan kemampuan bank dalam menghasilkan pendapatan dari kegiatan operasional. Operating grants (vs. capital) are intended to finance operations, but they are not a result of operations. Added a clarification regarding use of the account in the proprietary fund. Such ordinances or resolutions set an absolute maximum or ceiling on the expenditures, but the time period for incurring expenditures does not coincide with the governments fiscal year; it may even cover several years. Revenue vs. 395.30 New code - Use for any proceeds received for the sale of capital assets. Removed the accounting portion from the note. 3.1.1.140 Common terminology and classification. nonoperating income/revenue definition. 4.8.3.81 Added guidance on how to account for a recoverable grant with a promissory note included. Operating grants and contributions (both received and made) and grants and contributions that are not restricted to either operating or capital. The digits are now referred by their location within the code (i.e., first, second, etc.). This is a guideline, not a requirement. No duplication of effort is necessary to produce the ACFR from BARS reports. Capital grants are always excluded. 369.70 (Pension/OPEB Contributions) Should only be used for contributions made to a pension/OPEB plan administered by the reporting government. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee. The legal requirements are consistent with these national standards, but they are not identical. Code applicable only to Seattle and King County. Schedule 01 templates for online filing schedules have been updated. Such expenses are called operating expenses. Related: Operating cash flow: definition, types and benefits. There are no substantive changes. An unmarked spot in your government type column will indicate that a schedule is not attached due to lack of activities described in this schedule in reported year. Section number updated to 4.14.3 (from 4.8.3). If the resources are initially received in another fund, such as the general fund, and subsequently remitted to a special revenue fund, they should not be recognized as revenue in the fund initially receiving them. The original budget may be adjusted by reserves, transfers, allocations, supplemental appropriations, and other legally authorized legislative and executive changes before the beginning of the fiscal year. Non-operating income is the portion of an organization'sincomethat is derived from activities not related to its core business operations. 341 and 51P (General Government) BARS Codes Allowed only in governmental funds and internal service funds.Exception - 341.70 Sale of Merchandise - allowed in governmental and proprietary funds.See additional 518 information below. Also added discussion regarding disclosure when, regardless of a tax abatement agreement, the overall tax revenue is not reduced. Property and other taxes should be always reported as nonoperating revenue in proprietary fund statements. The section was revised to provide accounting requirements reflecting the current status of the advances from the DSHS. Net Revenue means an entitys total revenue less its operating expenses, interest paid, depreciation, and taxes. Unfortunately, crafty accountants occasionally find ways to record non-operating transactions as operating income in order to dress up profitability in income statements. Revenue is income earned by an individual or a business from the sale of any products or services offered. If the recoveries meet the criteria of extraordinary items, they should be reported as such in the financial statements. A clear distinction should be made between general capital assets and capital assets of proprietary and fiduciary funds. Within each category were created more separate accounts for different specific legal expenditures. Transfers should be classified separately from revenues and expenditures or expenses in the basic financial statements. In the case of universities, the most common forms of revenue is from . Clarified the definition regarding property insurance. It focuses on revenue, expenses, gains, and losses. They should not be reported as assets in governmental funds but should be reported in the governmental activities column in the government-wide statement of net position. Note: The various fund types may be grouped in the following manner to more clearly portray their relationship to an accounting basis: Flow of Current Financial Resources Measurement Focus Funds use the modified accrual basis: Flow of Economic Resources Measurement Focus Funds use full-accrual basis: Pension (and Other Employee Benefit) Trust Funds, 3.1.1.120 Budgeting, budgetary control and budgetary reporting. The example of reporting FEMA grants was updated. Local school operating revenue means school operating taxes levied under section 1211 of the revised school code, MCL 380.1211. Sometimes, a retailer chooses to invest its idle cash on hand in order to put its money to work. Annual operating revenue: $11,000 12 = $132,000. Separate funds should not be reported even though bond covenants may stipulate a bond reserve fund, bond construction fund, etc. 3.7.1 Changed title to Federal Awards to include all items that must be reported on the Expenditures of Federal Awards (Schedule 16). The problem is that profit in an accounting period can be skewed by things that have little to do with the everyday running of the business. Governments who file a no activity report will be required to submit supporting documents to confirm no activity, such as meeting minutes, county reports and/or bank statements. Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP. (c) Notes to the financial statements. The additional information will be available on our website under Fiduciary Funds in BARS manual. These activities are often incidental or peripheral to the primary business operations. Non-operating expenses generally appear near the bottom of a company's income . Learn more. Added 263.93 to the Schedule 09 codes for reporting Environmental liabilities (e.g. In contrast, the Non-Operating Revenue is earned from the Non-Operating activities of the business. It can include items such as dividend income, profits, or losses from investments, as well as gains or losses incurred by foreign exchange and asset write-downs. 4.1.2.45 The Department of Health (DOH) Accounting and Reporting Manual for Hospitals, which contains uniform accounting, budgeting and reporting for licensed hospitals in the state of Washington, is available from the DOH Office of Hospital and Patient Data Systems at (360) 236-4210 or from the Departments website. Non-operating income is itemized at the bottom of the income statement, after the operating profit line item. Companies can record it as part of their income statement to give an accurate number of how much money the company is making beyond its industry's normal scope. Untuk memperoleh NOM yang baik, bank harus bisa mengendalikan Financing to Deposit Ratio (FDR), Non Performing Financing (NPF), dan Operational Efficiency Ratio (OER) dengan baik. Revenues do not include other financing sources (long-term debt, transfers, etc.). Governments engaged in governmental and business-type activities should include, at a minimum: (1) Managements discussion and analysis (MD&A). For any business, the operating income figure can be computed by deducting cost of goods sold . Overview of Significant Changes Applicable to the Reporting Year 2019, Overview of Significant Changes Applicable to the Reporting Year 2018, 3132500, Housing and Related Services Sale and Use Tax. These budgets are also called legal budgets, adopted budgets, or formal budgets. The operating costs include costs such as personnel costs, materials, contracted services, communications, energy, maintenance, rent, administration, but exclude depreciation charges and the costs of financing if these have been covered by investment aid. These expenses are incidental or peripheral to the company. An expense is the cost of operations that a company incurs to generate revenue. The account was divided between internal and external legal services. Although this is considered a custodial fund, it should be reported in a separate external investment pool fund column under the custodial funds classification. Definition of Non-Operating Income. 4.1.1.210 Updated the guidelines for financial accountability. Internal service funds should be used only if the reporting government is the predominant participant in the activity. These non-operating income streams may include dividend income, profits or losses from foreign exchanges, and business investments. However, grants that are essentially the same as a contract for services, should be reported as operating revenues. Elected officials should be educated to the fact that accountability may be achieved effectively and efficiently by judicious use of department, program and other available account coding or cautious use of managerial (internal) funds. Code 400 - Enterprise Funds - may be used to report any activity for which a fee is charged to external users for goods or services. Spending should not exceed this level without prior approval of the governing body. Non-operating incomes & expenses both can affect the bottom line of an income statement either positively or negatively based on the amount of Income or Expense. Prepare the certification and sign and date the certification before submitting the report. Annual reports should be submitted via the Online Filing option on the State Auditors website at: www.sao.wa.gov. The ongoing principal operation is determined by the purpose of the individual enterprise fund. It is earned from the Core Activities of the business. The Statement requires all revenue to be recognized in the special revenue fund. For more information on determining if a transaction is fiduciary please see the Determining Fiduciary Custodial Activities page. For example, interest revenue should be reported as nonoperating. Accounting Principles and Internal Control, Sweeping Interest and Investment Returns into General Fund, Capital Asset Management System Requirements, Solid Waste Utilities: Closure and Postclosure Cost, Classification of Deferred Outflows/Inflows of Resources, County Treasurers Operation and Maintenance Fund, Electronic Funds Transfer (EFT) Receipts, Liquor Tax and Profits Two Percent Substance Abuse Treatment Programs, Working Advances from the Department of Social and Health Services (DSHS), Federal Awards Accounting (Formerly Grants Accounting), Certain Grants and Other Financial Assistance (Formerly Pass-Through Grants), Confidential Funds (Drug Buy Money, Investigative Funds), Electronic Funds Transfer (EFT) Disbursement, Imprest, Petty Cash and Other Revolving Funds, Memberships in Civic and Service Organizations, Voter Registration and Election Cost Allocation, Equipment Rental and Revolving (ER&R) Fund, Bond Coverage for Public Officials and Employees, New Entity Creation or Dissolution Notification, Reporting Losses of Public Funds or Assets or Other Illegal Activity, 3.1.1.20Accounting and reporting capabilities, 3.1.1.100Government-wide financial statements, 3.1.1.120Budgeting, budgetary control and budgetary reporting, 3.1.1.130Transfer, revenue, expenditure and expense classifications, 3.1.1.140Common terminology and classifications, Codification of Governmental Accounting and Financial Reporting Standards, Determining Fiduciary Custodial Activities, Classification of Revenues and Expenses for the Statement of Activities, Determining Fiduciary Activities to be Reported in Custodial Funds, Risk Pools Statement of Net Position Additional Reporting Instructions, Conversion and Reconciliation between Government-Wide and Fund Financial Statements, Note X Accounting and Reporting Changes, Note X Asset Retirement Obligations (ARO), Note X Changes in Long-Term Liabilities, Note X Closure and Postclosure Care Cost, Note X Construction and Other Significant Commitments, Note X Defined Benefit Other Postemployment Benefit (OPEB) Plans - No Qualifying Trust, Note X Defined Benefit Other Postemployment Benefit (OPEB) Plans - Qualifying Trust, Note X External Investment Pool (Counties Only), Note X Extraordinary and/or Special Items, Note X Interfund Balances and Transfers, Note X Paid Family Medical Leave Act Self-Insurance, Note X Pension and/or OPEB Plans - Defined Contribution, Note X Pension and/or OPEB Plans - Nongovernmental Plans, Note X Pledges and Sales of Future Revenues, Note X Pollution Remediation Obligations, Note X Reconciliation of Government-Wide and Fund Financial Statements, Note X Restricted Component of Net Position, Note X Risk Management (for participating member of pool), Note X Risk Pools Excess Insurance Contracts/Reinsurance, Note X Risk Pools Members Supplemental Assessments and Credits, Note X Risk Pools Risk Financing Limits, Note X Third Party Contractual Agreements, Note X Violation of Finance-Related Legal and Contractual Provisions, List of Participating Members Risk Pools, Expenditures of Federal Awards (SEFA/Schedule 16), Revenues/Expenditures/Expenses (Schedule 01), Expenditures of State Financial Assistance (Schedule 15), Public Works Cities and Counties (Schedule 17), Labor Relations Consultant(s) (Schedule 19), Sales and Use Tax for Public Facilities Rural Counties (Schedule 20), GFOA Financial Reporting Recognition Programs, County Auditor's Operation and Maintenance Fund (Recording Fees), Federal Awards - Accounting (Formerly Grants Accounting), Electronic Funds Transfer Disbursements, Voter Registration and Election Costs Allocation, New Entity Creation and Dissolution Notification, Expenditures of Federal Awards (Schedule 16), Public Works Cities and Counties (Schedule 17), Federal Awards - Accounting (Formerly Grants - Accounting), Annual Questionnaire for Accountability Audit (Schedule 22), Note 1 - Summary of Significant Accounting Policies, COVID-19 Vaccine and Donating PPE Reporting Requirements, Determining Fiduciary Activities Reported in Custodial Funds, Capital Assets Management System Requirements, Note X - Pension and /or OPEB Plans - Defined Contributions, Note X - Pension and /or OPEB Plans - Nongovernmental Plans, New BARS Code (This alert applies only to counties and cities), BARS Manual Update - New Accounts and Changes to Object Code 50, Tax Abatement information available on the DOR website (GAAP governments only), BARS Manual Update - Coding Marijuana Excise Tax Distribution (Cities/Counties Only), BARS Update - Reporting Court Related Agency Deposits and Remittances (Cities/Counties Only), BARS Manuals Update - 2017 Filing System Update. Comprehensive budget An government-wide budget that includes all resources the government expects and everything it intends to spend or encumber during a fiscal period. 1.5.10 The matrix identifies each BARS code that is generally reported as operating revenue or expense. Non-operating income is the portion of an organization's income that is derived from activities not related to its core business operations. The basic financial statements should include: (a) Government-wide financial statements. A clear distinction should be made between fund long-term liabilities and general long-term liabilities. This distinction should allow to demonstrate the extent to which the government is able to recover from its customers the cost of producing goods and providing services. Governments will receive a red flag if they report functional codes in custodial funds. For questions and/or support, please use the HelpDesk through our Online Services. Even if the fee is meant to cover the cost of the service, the county auditor function as a whole is primarily supported with tax dollars from the general fund. e. At a minimum, the statement of activities should present: (1) Activities accounted for in governmental funds by function, to coincide with the level of detail required in the governmental fund statement of revenues, expenditures, and changes in fund balances. If the money is further distributed to other local governments, such distributions should be coded 337 by these receiving governments. A fund is defined as a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations. They should be reported as nonoperating revenues. Exchange-like transaction revenues, such as passenger facility charges, certain tap fees, certain developer contributions and certain grants when restricted for capital or non-capital financing purposes. The comprehensive budget contains annual/biennial appropriated budgets, the annual/biennial portion of continuing appropriations such as the capital improvement projects, debt amortization schedules, and grant projects, flexible budgets and all non-budgeted funds. Added additional instructions for preparers regarding disclosures when the debt is refunded with the governments own resources. Total Fund Operating Expenses with respect to a Fund is defined to include all expenses necessary or appropriate for the operation of the Fund including the Advisers investment advisory or management fee under the Advisory Agreement and other expenses described in the Advisory Agreement that the Fund is responsible for and have not been assumed by the Adviser, but excludes front-end or contingent deferred loads, taxes, leverage and borrowing expenses (such as commitment, amendment and renewal expenses on credit or redemption facilities), interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, unusual or infrequently occurring expenses (such as litigation), acquired fund fees and expenses, and dividend expenses, if any. All other 518 codes not listed above - Allowed in all governmental funds or internal service funds. For a receiving district, if school operating taxes are to be levied on behalf of a dissolved district that has been attached in whole or in part to the receiving district to satisfy debt obligations of the dissolved district under section 12 of the revised school code, MCL 380.12, local school operating revenue does not include school operating taxes levied within the geographic area of the dissolved district. Governments will receive a red flag if they have pension related liabilities but do not report them on the Schedule 09 or if they are using the incorrect ID No. 4.8.6.30 Clarified that the amount reported on the Schedule 17 should include all public works, including county road construction. c. An ACFR may be prepared and published, covering all activities of the primary government (including its blended component units) and providing an overview of all discretely presented component units of the reporting entity including introductory section, management's discussion and analysis (MD&A), basic financial statements, required supplementary information other than MD&A, combining and individual fund statements, schedules, narrative explanations, and statistical section. What do you mean by non-operating income? All 518 (Centralized/General Services) For general purpose governments only. and Non-operating assets are usually treated separately from operating assets when evaluating a company or its stock. The difference between tax revenue and non-tax revenue is that the former is charged on income earned by an entity, which is a direct tax and on the value of transaction of goods and services, which falls under indirect tax. 3.1.7.50 Added clarifying information about Debt service funds, Capital project funds, and Fiduciary funds. 395.30 (Proceeds from Sales of Capital Assets), 395.40 (Compensation for Loss/Impairment of Capital Asset), 518.61 (Judgments and Settlement) Updated description to include proprietary funds, 547.00 (Transits, Railroads and Other Transportation Systems Services), 547.00 (Transits, Railroads and Other Transportation Systems Services) -, 547.10 (Transits, Railroads and Other Transportation Systems Services). Updated the General Ledger Chart to match the Schedule 09 coding requirement and simplified other sections. The off-payroll working rules: apply if a worker provides services to a . If the technology company earns $1 billion in income in a year, it's easy to see that the additional $400 million will increase company earnings by 40%. In contrast, if revenue exceeds total expenses, the net income value . Another example of permits and licenses being an operating revenue would include a permit fee collected by an enterprise fund whose purpose is to issue permits. A three digit code is used: the first digit identifies the fund type and the next two digits will be assigned by the governmental unit to identify each specific fund. If the main purpose of an ad is to generate a click, or more specifically drive traffic to a destination, then pay-per-click is the preferred metric. Non-Operating income is the part of indirect income which derived from sources not directly related with the operations of the company like it includes dividend income; income from investments, interest income etc. Next, we need to figure out the non-operating revenue. . Numbers for registered warrants and lines of credits. In addition, GAAP mandate the use of enterprise funds for the separately issued financial statement of public-entity risk pools. 1.5.40 The operating nature of revenue is derived from the source of the revenue NOT its purpose. Is non work a word? Overview of Changes Applicable to the Reporting Year 2021. Usually the price of paying the cost of issuing a license or permit amounts to the cost necessary to process that permit. In many cases it involves the sale of assets. . New section for determining fiduciary custodial funds. Operating income is recorded on the income statement. For example, non-operating revenue may artificially increase profit margins whereas expenses reduce it. The SAO considers budgets showing revenues and expenditures at the legal fund level to be the minimum acceptable level of detail. For other details see BARS Alert issued August 1, 2018. It is a category in a multi-step income statement. Also, if a multiple activity fund (e.g., general fund) includes a significant activity whose principal revenue source meets any of these three criteria, the activity should be reclassified as an enterprise fund. Operating revenues are generally those that enter into the determination of the operating income. This is an early implementation of GASBS 89, Accounting for Interest Cost Incurred before the End of Construction Period which is applicable for reporting periods beginning after December 15, 2019. Gains or losses on sales of capital assets. The accounting portion is now located in Accounting, Liabilities, Asset Retirement Obligations (AROs). 3.11.1.70 Removed reference to object code 50 in reference to contract expenditure and updated to object code 40. Revenue from operations or operating revenue can be defined as the income generated by an entity from its daily core business operations. All other capital assets of the government are general capital assets. Non-operating income is any profit or loss generated by activities outside of the core operating activities of a business. Proprietary fund statements of net position and revenues, expenses, and changes in fund net position should be presented using the economic resources measurement focus and the accrual basis of accounting. So, while the local governments are required to follow their legal requirements, they will have to make some adjustment to their fund structure for external financial reporting. Miscellaneous Revenues (360) Majority of the miscellaneous revenues are considered nonoperating unless they are directly related to the government principal operation; if so, then they should be coded in the functional area. Required Supplementary Information (including MD&A). Gains and losses from the sale of assets or investments. Discounting revenues and operating costs using an appropriate discount rate allows a reasonable profit to be made; TIF Revenues means incremental ad valorem taxes generated on the Redevelopment Project Property by the Project which are to be allocated to and paid to the Authority pursuant to the Act. You may include them in your calculation for sales revenue to obtain an accurate representation of a company's total revenue within that period. When a person sets out to analyze this retail company, the $500 would be discounted as earnings, because it can't be relied on as continuous income over the long term. What is non-operating revenue? Clarified that the governments should be reporting both short- and long-term liabilities on the Schedule. In short, it provides information to interested parties about how much revenue was turned into profit through the company's normal and ongoing business activities. 1.5.80 According to the GASB Statement 9, Reporting Cash Flows of Proprietary and Nonexpendable Trust Funds and Governmental Entities that Use Proprietary Fund Accounting operating cash flows category would exclude most revenues that considered to be non-exchange and exchange-like transactions and financing and investment-related revenues/expenses, including: 1.5.90 Generally governments should record the following proprietary fund operating revenues: GAAP governments are not created to generate tax revenue. 3329330, Medical Transformation Demonstration, New account for revenues for Medicaid payments related to an implementation of the Transformation Plans. Note: Capital project funds should not be used in proprietary funds (400 and 500). When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Capital outlays financed from general obligation bond proceeds should be accounted for through a capital projects fund. Required disclosure if a government is self-insuring the Washington Paid Family & Medial Leave. They are especially appropriate for the day-to-day operations of a public utility where it is essential to plan fluctuations in the demand for services and where revenues will automatically increase with demand, so that a balanced budget does not depend on establishing a ceiling for expenses. Removed references to GASB 43 and 45 and replaced with GASB 74 and 75. Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State. Restricted revenues are resources externally restricted by creditors, grantors, contributors or laws or regulations of other governments or restricted by law through constitutional provisions or enabling legislation (similar to restricted component of net position used in government-wide reporting). The operating income (also referred to as operating profit) is the basic or primary income that a business derives solely from its core operations. For a receiving district, if school operating taxes are to be levied on behalf of a dissolved district that has been attached in whole or in part to the receiving district to satisfy debt obligations of the dissolved district under section 12 of the revised school code, MCL 380.12, local school operating revenue does not include school operating taxes levied within the geographic area of the dissolved district. Answer (1 of 4): It is income that is generated from activities with have nothing to do with operations. Operating Profits means, as applied to any Person for any period, the operating income of such Person for such period, as determined in accordance with GAAP. By contrast, if you look at countries that don't have Internet exchange points, Garin later will give an example of Afghanistan, prices are very, very high and the suppliers are outside the country which means we have . (b) Fund financial statements. An income statement is one of the three major financial statements that report a companys financial performance over a specific accounting period. However, a governmental organization other than a primary government (such as a component unit, joint venture, jointly governed organization, or other stand-alone government) serves as the nucleus for its own reporting entity when it issues separate financial statements. Many non-operating gains or losses are non-recurring, which leaves room for accounting manipulation. [The update contains also notes and RSI requirements. c. Governmental fund revenues should be classified by fund and source. Operating Revenue Cash Flows means the Companys cash flow from ownership and/or operation of (i) Properties, (ii) Loans, (iii) Permitted Investments, (iv) short-term investments, and (v) interests in Properties, Loans and Permitted Investments owned by any Joint Venture or any partnership in which the Company or the Partnership is, directly or indirectly, a co-venturer or partner. Use the column which is appropriate for your government type. They should be expected to continue to comprise a substantial portion of the inflows reported in the fund. Examples: real estate (land and buildings), equipment, street vacations, timber sales (timber owned by the municipality). c. Financial statements of fiduciary funds should be reported using the economic resources measurement focus and the accrual basis of accounting, except for the recognition of certain liabilities of defined benefit pension plans and certain postemployment healthcare plans. Changed references to section of the BARS manual to correctly refer the current title (. Simply put, a non-profit's revenue is the amount of cash it generates, and its income is the amount of cash it generates minus its expenses and losses. Governments should establish and maintain those funds required by law and sound financial administration. Adjusted Net Operating Income or Adjusted NOI means, for any period, the Net Operating Income of the applicable Hotel Properties for such period, subject to the following adjustments: TIF Revenues means incremental ad valorem taxes generated on the Redevelopment Project Property by the Project which are to be allocated to and paid to the Authority pursuant to the Act. 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