Income Statement Report

The Income Statement Report is a Financial Statement that reports whether the School or District is making or losing money.

Management can use this report to determine whether the district is operating at a profit and to assist in making financial decisions, such as whether meal prices need to be adjusted or expenses monitored.

• This report includes the Revenue, Expenses, and Net Gain or Loss, grouped by site, for the selected accounting period.   

• It may also be called the Operating Statement or Profit and Loss Statement.

• There are two formats for the Income Statement: by Account and by Category.

• Each one can also be printed as Summary Only.

• The Account format lists all the revenue and expense account codes with activity for each site, as well as the prorated accounts.

  • It has columns for Total Budget, MTD Activity, YTD Activity, outstanding Purchase Orders, and Unencumbered Balance (which is calculated by subtracting YTD activity and Purchase Orders from Total Budget).
  • The Summary Only report has one line for each school showing the totals.

• The Category format also reports expenses and revenues by site, but it is summarized based on the account Categories and Sub-Categories. This gives a simpler report that is easy to read.

  • The Summary Only report is for the entire district for the month (no site breakdown).

• For Site Selection, check the sites you want to include in the report.

  • Unassigned Accounts includes any accounts that are not assigned to a site and not prorated.
  • In either format, the Summary will only include the selected sites. If you want the report to include all revenue and expenses for the month, be sure to check all sites plus unassigned accounts.

• TheSummary Onlyreport for Account Number format has one line for each school showing the totals.

  • The Summary report for the Account Category format is for the month (no site breakdown).

Sample Reports

By Account Number

By Account Number Summary Only

Account Category

Account Category Summary Only

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FIN version 9 Help, revised 08/2018