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.
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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.

Related to Governmental fund

  • Governmental Person means, whether domestic or foreign, any national, federal, state or local government, any political subdivision thereof, or any governmental, quasi-governmental, judicial, public or statutory instrumentality, authority, body or entity, including any central bank and any comparable authority.

  • Governmental function means an activity that is expressly or impliedly mandated or authorized by constitution, statute, local charter or ordinance, or other law. Governmental function includes an activity performed on public or private property by a sworn law enforcement officer within the scope of the law enforcement officer's authority, as directed or assigned by his or her public employer for the purpose of public safety.

  • Governmental Filings means all filings, including franchise and similar tax filings, and the payment of all fees, assessments, interests and penalties associated with such filings with all Governmental Authorities.

  • Intra-governmental gift means any gift given to a Board member or employee from another Board member or employee, and "inter- governmental gift" means any gift given to a Board member or employee from an officer or employee of another governmental entity.

  • Governmental Lender means the City of Los Angeles, a municipal corporation and charter city of the State of California and any successor under this Funding Loan Agreement and the Funding Loan Documents.