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Revenues

The fiscal year is the accounting period for state government which begins on July 1 and ends on June 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2013 begins on July 1, 2012 and ends on June 30, 2013.

Revenue collections in the state of Rhode Island are comprised of eleven (11) major categories.

Fiscal Year 2012 Revenues

Revenue Category
Revenue Amount
Federal Grants
$2,602,369,936.13
Fines and Penalties
$38,654,594.77
Intragvmntl Sales and Svcs
$185,304.23
Licenses and Fees
$259,758,657.74
Misc. Departmental Revenues
$30,789,910.90
Non Operating General Revenue
$412,372,180.56
Other Taxes
$2,518,449,025.72
Others
$2,347,279,131.49
Restricted Revenues
$194,057,113.22
Sales and Services
$10,506,818.16
Undefined
$0.00
Total
$8,414,422,672.92

Please note that these numbers are based on unaudited data.

Revenue Category Definitions

  • Federal Grants: Funds received from the federal government for the purpose of operating specific programs or providing specific services.
  • Fines and Penalties: Funds collected from violators of state laws or regulations.
  • Intragvmntl Sales and Svcs: Fees received by one state agency as payment for product or services provided by another state agency.
  • Licenses and Fees: Funds collected is the issuance of licenses granted by the state for fees collected for the performance of certain functions.
  • Misc. Departmental Revenues: Departmentaly generated general revenue not otherwise classified.
  • Non Operating General Revenue: General revenue received from one state fund that is being paid from another state fund.
  • Other Taxes: Taxes assessed and collected in accordance with state law.
  • Others: Other unclassified revenues.
  • Restricted Revenues: Revenues received and earmarked for expenditures for a specific purpose.
  • Sales and Services: Funds collected by state agencies for the performance of duties or the delivery of products.
  • Undefined: This should always be zero. If any revenues post to undefined accounts they are assigned a report group prior to the issuance of any revenue reports.