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Zorluk: Çok zorSources of Government Revenue

The Accountant-General of a state government received the following financial receipts during the fiscal year:

Revenue Head / Receipt TypeAmount (₦)
Direct Assessment Tax and PAYE collections120,000,000
Foreign capital grants for road construction80,000,000
Passport fees, court fines, and mining licenses35,000,000
Proceeds from internal loan borrowing (bonds)150,000,000
Dividends and operating surpluses from public corporations40,000,000

Based on public sector accounting rules, what total amount should be credited to the Consolidated Revenue Fund as recurrent revenue, and what total amount represents capital receipts to be credited to the Development Fund?

  1. ₦195,000,000 to the Consolidated Revenue Fund and ₦230,000,000 to the Development FundCevap
  2. B
    ₦120,000,000 to the Consolidated Revenue Fund and ₦305,000,000 to the Development Fund
  3. C
    ₦275,000,000 to the Consolidated Revenue Fund and ₦150,000,000 to the Development Fund
  4. D
    ₦345,000,000 to the Consolidated Revenue Fund and ₦80,000,000 to the Development Fund

Cevap

₦195,000,000 credited to the Consolidated Revenue Fund as recurrent revenue, and ₦230,000,000 credited to the Development Fund as capital receipts.
Government revenue is broadly categorized into Recurrent Revenue (credited to the Consolidated Revenue Fund) and Capital Receipts (credited to the Capital Development Fund). Recurrent revenue includes both Tax Revenue (Direct Assessment & PAYE = ₦120,000,000) and Non-Tax Revenue (Passport fees, court fines, mining licenses = ₦35,000,000, plus Dividends and operating surpluses = ₦40,000,000), giving a total of 120,000,000+35,000,000+40,000,000=195,000,000120,000,000 + 35,000,000 + 40,000,000 = 195,000,000. Capital receipts consist of long-term funding sources for infrastructure and projects, which here include foreign capital grants (₦80,000,000) and internal loan borrowings (₦150,000,000), yielding 80,000,000+150,000,000=230,000,00080,000,000 + 150,000,000 = 230,000,000.

Adım Adım Çözüm

1
Identify and aggregate all Recurrent Revenue items destined for the Consolidated Revenue Fund (CRF).
Tax Revenue (PAYE = ₦120,000,000) + Non-Tax Recurrent Revenue (Fees, fines, licenses = ₦35,000,000 + Dividends and operating surpluses = ₦40,000,000) = ₦195,000,000.
The Consolidated Revenue Fund receives all recurrent receipts of government, comprising both direct/indirect tax revenues and non-tax revenues (licenses, court fines, commercial earnings).
2
Identify and aggregate all Capital Receipts items destined for the Capital Development Fund (CDF).
Foreign capital grants (₦80,000,000) + Proceeds from internal borrowing (₦150,000,000) = ₦230,000,000.
The Capital Development Fund receives capital receipts such as loan proceeds, grants meant for capital projects, and asset sale receipts.

Anahtar Kavram

Classification of government revenue streams into recurrent (tax and non-tax) revenues credited to the Consolidated Revenue Fund and capital receipts credited to the Capital Development Fund.
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Konular

Sources of Government Revenue

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