• SNAPSHOT VIEW OF…• ASSETS
• Things you “OWN” (have value)• Received (e.g. cash, investments, equipment,
facilities)• Earned but not received (e.g. accounts
receivable, promises to give, prepaid rent)
• LIABILITIES• Things you “OWE”• Unpaid bills, loans, future retirement
obligations, bonds issued
• NET ASSETS• Assets – Liabilities = Net Assets (equity, net
worth)
• FLOW OF $ OVER TIME (monthly, annually, etc.)
• REVENUES
• $ earned, income
• Apportionments, grants, in-lieu of taxes, donations
• EXPENDITURES
• SURPLUS/DEFICIT
• Revenues – Expenditures
• Change in Net Assets (net revenue, net profit)
• “CASH IS KING”
• Starts with Change in Net Assets from Statement of Activities
• Adjusts for non-cash transactions (things that increase or reduce Change in Net Assets but are not actual cash)
• Leaves true picture of cash position