What Is An Example Of Federal Revenue Sharing?

What is a project grant?

A project grant is money given by the federal government to state and local governments or to an individual.

Project grants are a type of categorical grant.

Projects are grants given by the federal government to state and local governments on the basis of merit..

What are two types of revenue?

Revenue types There are two different categories of revenues. These include operating revenues and non-operating revenues.

What is revenue example?

Fees earned from providing services and the amounts of merchandise sold. Examples of revenue accounts include: Sales, Service Revenues, Fees Earned, Interest Revenue, Interest Income. … Revenue accounts are credited when services are performed/billed and therefore will usually have credit balances.

What are the 3 main revenue sources?

7 Types of Revenue StreamsSelling Assets (Asset Sale) This is the most widely utilized in mainstream business. … Fees for Usage (Usage Fees) The Usage Fees revenue stream is when a company makes money by how often someone uses their service. … Subscription Fees. … Renting, Leasing & Lending. … Licensing to 3rd Parties. … Brokerage Fees. … Advertising Fees.

What are the types of revenue?

Types of revenue accountsSales.Rent revenue.Dividend revenue.Interest revenue.Contra revenue (sales return and sales discount)

Which state gets the highest allocation in Nigeria?

LagosFor instance, Lagos generated the highest, ₦398.7 billion and received ₦117.9 billion as federal allocation. Abuja and Ogun generated ₦70.9 billion and ₦74.6 billion and received ₦38.7 billion and ₦71.9 billion, respectively. Compared to 2018, the 36 States and FCT, however, recorded a 21 per cent growth in IGR.

What revenue means?

gross salesRevenue is the total amount of income generated by the sale of goods or services related to the company’s primary operations. Revenue, also known as gross sales, is often referred to as the “top line” because it sits at the top of the income statement. Income, or net income, is a company’s total earnings or profit.

What is revenue sharing used for?

General Revenue Sharing is an effective, efficient and equitable program providing general purpose fiscal assistance to the States and units of local government.

How is revenue share calculated?

If you select Gross, the revenue share is based on a percentage of the gross price of a transaction. If you select Net, the revenue share is based on a percentage of the net price of a transaction. Note: You set the gross or net price for the transaction when you create the transaction recording policy.

What is distribution revenue?

distribution revenue means total annual revenue, inclusive of related Sales and Use Tax collected from a Customer, less the Basic Gas Supply Service and Balancing charges, inclusive of related Sales and Use Tax , assessed in accordance with the Tariff.

What is revenue allocation formula?

PIi= Revenue allocated to a county on the basis of Poverty Factor. … LAi= Revenue allocated to a county on the basis of Land Area Factor. FEi= Revenue allocated to a given county on the basis of Fiscal Effort. DFi= Revenue allocated to a given county on the basis of Development Factor.

How did General Revenue Sharing distribute money to the states?

The states received one-third of the money, and local governments two-thirds. About 39,000 general purpose political jurisdictions were allocated funds according to a complex formula based on population, tax effort, income tax collection, and need.

What are the current revenue sharing formula in Nigeria?

Under the current revenue sharing formula, the federal government takes 52.68 percent, the states 26.72 percent and the local governments, 20.60 percent with 13 percent derivation revenue going to the oil producing states.

Is revenue sharing good?

Revenue sharing can be a very good opportunity for writers. But it can also be a very bad opportunity. … Several other companies I have reviewed also have revenue sharing of one form or another but Yahoo Voices is the best of them all for one main reason: The revenue sharing is for life.

What is the principle of revenue allocation?

The recommen- dations of the Commission were that revenue allocation should be based on the following under-listed principles: (1) Equality of access to devel- opment opportunities, (2) National minimum standard, (3) Absorptive capacity, (4) Financial comparability, (5) Independent tax effort and (6) Fiscal efficiency …