Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Fund Types
Governments have multiple options when it comes to handling money. The diversity of funds and having a policy on how to manage funds is essential for governments because of the many different ways in which the government must allocate its budget and the many different ways that a government is expected to generate returns on its investments. Critical oversight of this process is crucial to governmental monetary and fiduciary success.
The Eleven Fund Types
The eleven fund types that government agencies can use for allocating revenues can be categorized into the three broader groupings: governmental funds, proprietary funds (business type funds), and fiduciary funds. The eleven fund types as grouped by the three categories are as follows:
Governmental funds consists of: 1) general funds, such as accounts for general operations -- Sheriff, Parks, etc.; 2) special revenue funds, such as a Tourist Tax Fund; 3) debt service funds, such as the 2008 Series Debt Service Fund; 4) capital projects funds; 5) permanent funds, such as a cemetery care fund.
Proprietary funds consist of 6) enterprise funds, such as water/sewer funds;...
Having a diversity of funds is important because it limits the risk of the government failing to have a positive return on investment; or, it limits the risk of money being misappropriated -- funds are allocated and limited by these different types. If all money was allocated to one big Fund, the risk would be high of funds being unavailable when needed: multiple funds allow the government to hedge and limit or have negative risk and better control over how money is moved, saved, and invested.
For example, a general fund is typically the largest and most essential to the aims of the government's budget, as it "contains all transactions not provided for in any other fund" (Lee, n.d., p. 171). It ensures that there are sufficient resources for budgeted programs. The Special Revenue Fund is for funds are restricted for specific purposes such as grants. Revenue and expenditures are separated so as to make audits easier. A Debt Service Fund is for funds that will go…
References
Appropriate level of unrestricted fund balance in the general fund. (n.d.). GFOA.
Retrieved from http://www.gfoa.org/appropriate-level-unrestricted-fund-balance-general-fund
Lee, R. (n.d.). 16. Understanding County Finance. Florida County Government Guide:
167-173.
Republicans construed Obama as suggesting government bailouts for new industries, or at the slightest a more lively federal government function in generating or supporting jobs -- concepts abominations to a lot of conservatives. The Obama campaign countered the idea as political spin that does not replicate the president's feeling or meaning, pointing to full circumstances of the quotation as confirmation (Koch, 2011). Discuss the process of how a Bill becomes a
(Vancketta, 1999) The 'Changes' clause enables the Government "to make unilateral changes to the contract during performance, so long as those changes fall within the contract's scope." The Standard 'Changes' clause utilized in fixes price supply contracts allows the CO to make changes in writing to: 1) the drawings, designs, or specifications when the item is being specifically manufactured for the government; 2) the method of shipment or packing; or 3) the place
Government Shutdown A shutdown furlough takes place in case of a lapse in appropriations, mostly at the commencement of a fiscal year, where funds have not been appropriated for that year, or when continuing resolution expires, or failing to pass a new continuing resolution or appropriations law. Whenever a shutdown furlough exists, agency affected is forced to shut down all the activities that are funded by annual appropriations that the law
Perhaps this will always be an issue for the U.S. federal government because under the existing political system there are few substantial options for making policy decisions that can extend across political elections. Situations that represent a problem for one politician or political party will be ignored by the next, making consistent, proactive responses difficult if not outright impossible. From an emergency management position, this means that agencies will
A micro considers the interests and rights of the individual company as the primary concern. Both of these views are valid depending on the lens that one wishes to use. The problem arises when the government is forced to develop policies regarding procurement in this volatile debate. The government must decide whether to take a micro view, favoring the rights of companies, or a macro view that places the
Someone can file a discharge petition, or the House can use a "Calendar Wednesday" process, which allows the House to bring up any bill for special consideration if it was reported the previous day. Then, the bill goes to the floor for action. The bill is placed on the House or Senate calendar. Once a bill reaches the floor, it is open to debate. Decisions are made as to how