over-collection; excess revenue
Meanings
2 senses · 6 examplesverb
to collect revenue exceeding the plan or quota; to over-collect
formalOften used in financial, budgetary, tax, or project management contexts to indicate actual income surpassing the planned or stipulated amount.
Tax revenue for the first quarter of this year is projected to exceed the target by 10%.
This fee-charging project must be implemented strictly according to the standard; over-collection is not allowed.
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Our company's revenue has exceeded the target for three consecutive years.
noun
excess amount collected; surplus revenue
formalRefers to the specific portion of money or goods (valued) that exceeds the amount that should have been collected. Used in accounting, auditing, and financial reporting.
After the fiscal year settlement, this surplus revenue will be turned over to the state treasury.
The audit discovered a small amount of excess collection, which must be refunded according to regulations.
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This portion of surplus revenue will be used for next year's project construction.