Revenue & Expense Statement
- A revenue & expense statement summarizes the funds you have received and spent each month.
- What is Revenue?
- The amount of money that your project receives during a specific period
- What is an Expense?
- Opposite of revenue. Payments for employee wages and to vendors during a specific period
- What is Total Revenue over (under Expense)?
- Amount of Money received minus payments during a specific period
An example of a Revenue & Expense Statement:
What is a Detailed Activity Report?
- Provides detail information for a specific period
- Did we receive a payment from a specific foundation?
- Did we pay our special event consultant?
An example of a Detailed Activity Report:
What is a Balance Sheet?
Assets = Liabilities + Net Assets
- What are Assets?
- Cash in hand
- Grants and/or contracts due to your project
- What are Liabilities?
- Outstanding bills due to vendors and contractors
- Outstanding vacation pay due to employees
- What are Net Assets?
- Net worth of your project
Example of a Balance Sheet: