General Explanation - Study Guide

General Explanation - Study Guide - Types of Funds...

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Types of Funds Governmental Funds Proprietary Funds Fiduciary Funds General Fund Capital Project Funds Debt Service Funds Special Revenue Funds Permanent Funds Enterprise Funds Internal Service Funds Pension Trust Funds Investment Trust Funds Private Purpose Trust Funds Agency Funds Modified Accrual Accrual Accrual No Capital Assets or Long- Term Liabilities Both Capital Assets or Long-Term Liabilities Both Capital Assets or Long-Term Liabilities Current Financial Resources Economic Resources Economic Resources Governmental Funds General Fund Funds for general government purposes (fire, safety, police, etc.) – unrestricted Capital Project Funds Costs associated with current construction Debt Service Funds Payment of Principal and Interest Special Revenue Funds Funds raised from specific source for dedicated purpose (special tax district for road improvements) – restricted use Permanent Funds Income from this fund used for particular purpose (donation provided to build library – only income can be used) – restricted use Proprietary Funds Internal Service Funds Service Center Costs (internal copy center, etc.) recoups costs through billing users Enterprise Like a business to the public (golf course, water/sewer,
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This note was uploaded on 04/12/2011 for the course ACCT 2500 taught by Professor Johnmalone during the Fall '08 term at Cuyahoga CC.

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General Explanation - Study Guide - Types of Funds...

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