Governmental fund definition
Governmental fund means funds used to account for the acquisition, use, and balances of expendable financial resources and related liabilities using a measurement focus that emphasizes the flow of financial resources.
Examples of Governmental fund in a sentence
Governmental fund revenues represented by noncurrent receivables are recognized as revenues in the government-wide financial statements.
Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting.
Governmental fund reporting focuses on the sources, uses, and balances of current financial resources.
Governmental fund operating statements present increases (revenues) and decreases (expenditures) in fund balance.
Governmental fund revenues represented by noncurrent receivables are not recognized and are reported as deferred inflows of resources in the General Fund until they become current receivables.