Laserfiche WebLink
Fund Balance Reporting <br /> Classification Definition Examples <br /> Nonspendable "Amounts that cannot be spent because they are . Inventories, <br /> either (a) not in spendable form or (b) legally or . Prepaid items, <br /> contractually required to be maintained intact."2 • Long-term receivables in the <br /> general fund,and <br /> • Permanent principal of <br /> endowment funds. <br /> Restricted "Fund balance should be reported as restricted when • Restricted by state statute, <br /> constraints placed on the use of resources are either: a Unspent bond proceeds, <br /> a. Externally imposed by creditors (such as . Grants earned but not spent, <br /> through debt covenants), grantors, . Debt covenants, . <br /> contributors, or laws or regulations of other • Taxes dedicated to a specific <br /> k governments;or purpose,and <br /> Ib. Imposed by law through constitutional . Revenues restricted by <br /> provisions or enabling legislation. enabling legislation. <br /> Committed "Used for specific purposes pursuant to constraints • The governing board has <br /> imposed by formal action of the government's decided to set aside $1 M for a <br /> highest level of decision-making authority."" new city hall. <br /> • Property tax levies set for a <br /> specific purpose by resolution. <br /> Assigned "Amounts that are constrained by the government's • Governing board has set aside <br /> intent to be used for specific purposes, but are $2 million for a county <br /> neither restricted nor committed."5 hospital and the county <br /> manager may amend this up to <br /> -o $100,000. <br /> • Governing body delegates the <br /> authority to assign fund <br /> balance to the finance officer. <br /> c • Governing board has <br /> appropriated fund balance <br /> often to balance next year's <br /> budget6 <br /> • Positive residual balances in <br /> governmental funds other than <br /> the general fund. <br /> Unassigned Unassigned fund balance is the residual classification for the General Fund. This is fund <br /> balance that has not been reported in any other classification. The General Fund is the only <br /> fund that can report a positive unassigned fund balance. Other governmental funds would <br /> report deficit fund balances as unassigned.' <br /> 2 GASB Statement No. 54,¶6. <br /> 3 GASB Statement No.54,¶8. <br /> 4 GASB Statement No. 54,¶ 10. <br /> 5 GASB Statement No.54,¶ 13. <br /> 6 See appropriated fund balance section of this document. <br /> 'GASB Statement No.54,$ 17. <br /> Reviewed: July 2012 2 2010-1003 <br /> Revised: July 2012 <br />