Definition of offsetting collections

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TeachMeFinance.com - explain offsetting collections



offsetting collections -- Funds collected by the government that are required by law to be credited directly to an expenditure account. Offsetting collections are accounted for as negative budget authority and outlays; they offset budget authority and outlays (either direct or discretionary spending) at the program or account level. Offsetting collections generally result from business-like or market-oriented activities with the public or from intragovernmental transactions. Collections that result from the government's exercise of its sovereign or governmental powers are ordinarily classified as revenues, but will be classified as offsetting collections when the law requires that treatment.



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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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