The term financially self-sustaining refers to a situation where an organization or entity's management and operating expenses are equal to or less than the income generated from fees, receipts for resource use and development, and interest on invested funds. This concept is crucial for ensuring that an entity can operate without relying on external funding, such as appropriated funds from Congress.
This term is often used in the context of conservation and management of natural resources, particularly in legal frameworks governing game and bird preserves. It is relevant in areas such as environmental law and public finance, where entities must demonstrate financial viability. Users can manage related forms and procedures through resources like US Legal Forms, which offer templates tailored to these legal needs.
Here are a couple of examples of abatement:
Example 1: A wildlife preserve generates income through entry fees and guided tours. If the total income from these activities covers all operating costs, the preserve is considered financially self-sustaining.
Example 2: A state park that receives funding from visitor fees and manages its budget effectively without additional state funding (hypothetical example).
The primary legal reference for this term is found in 16 USCS § 698v-1 (4), which outlines the definition and context of financial self-sustainability in relation to conservation efforts.
Examples of state differences (not exhaustive):
| State | Financial Self-Sustaining Criteria |
|---|---|
| California | State parks must demonstrate self-sustainability through visitor fees and grants. |
| Texas | Wildlife preserves often rely on hunting licenses and fees for financial sustainability. |
| Florida | Preserves may include state funding as part of their operational budget calculations. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Key Difference |
|---|---|---|
| Financially Independent | Not reliant on external funding. | May not include specific income sources like fees. |
| Self-Sustaining | Capable of maintaining operations without outside assistance. | Does not necessarily require a balance of income and expenses. |
If you are involved in managing a preserve or similar entity, ensure that your budget reflects all income sources and expenses accurately. Consider using US Legal Forms to access templates that can help you draft necessary financial documents. If your situation is complex, seeking professional legal advice may be beneficial.
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It means that an entity's expenses do not exceed the income generated from its operations.