Chapter 11 pp - Warehousing, distribution General...

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Internal Service Funds Chapter 11
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Purpose To finance, administer, and account for departments or agencies whose exclusive or nearly exclusive mission is to provide goods and services to the government’s other departments on a cost reimbursement basis.
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Goals of ISFs Attain greater economy, efficiency, and effectiveness in acquisition and distribution of common goods and services used by other departments Facilitate the equitable sharing of costs among departments served
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Common Examples Central Stores Auto/motor pool Self-insurance Technology, communications Copy/printing
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Unformatted text preview: Warehousing, distribution General Principles Business-like activities Measurement Focus economic resources Basis of Accounting accrual Nonexpendable, proprietary funds Pricing Policies Typical choices Historical cost Direct cost, when other costs are insignificant ISFs usually have a monopoly, so pricing needs to be monitored closely Excessive charges must be avoided Financial Statements Statement of Net Assets Statement of Revenues, Expenses, and Changes in Net Assets Statement of Cash Flows...
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Chapter 11 pp - Warehousing, distribution General...

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