Governmental funds definition

Governmental funds means money, assets, or property, of the United States government, of a State government, or of a local government, including any branch, subdivision, department, agency, or other component of any such government. “State” means any of the fifty States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, Guam, the Northern Mariana Islands, or American Samoa. “Local government” means the government of a political subdivision of a State.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Governmental funds means the general fund, special revenue fund, debt service fund, and capital projects fund of a local district.

Governmental funds means the general fund, special revenue fund, debt

Examples of Governmental funds in a sentence

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements.
The provisions of paragraphs 1 and 2 shall not apply to remuneration or profits derived from activities exercised in a Contracting State if the visit to that State is directly and fully supported wholly from the Governmental funds of the other Contracting State, a political subdivision, a local authority or a statutory body thereof.
Governmental funds provide information on the short-term inflows, outflows, and balances of resources that are available for spending, usually a 12 month period.
Governmental funds are those through which most governmental functions typically are financed.
Amounts reported for governmental activities in the Statement of Activities (page 22) are different because: Net Change in Fund Balances - Total Governmental Funds (page 24) $ 66,053 Governmental funds report capital outlays as expenditures.

More Definitions of Governmental funds

Governmental funds means the general fund, special revenue

Governmental funds means the general fund, special revenue funds, capital projects funds, and debt service funds, as defined by GAAP.

Governmental funds means all of the "governmental funds" of the Issuer as described and identified in the Annual Audit.

Governmental funds means money, assets, or property of a Federal, State, or local government [, including a governmental branch, subdivision, department, agency, or other component.]

Governmental funds means money,

Governmental funds means Funds that are used to account for most typical governmental functions focusing on the acquisition, use, and balances of an organization’s expendable financial resources and the related current liabilities. The accounting for Governmental Funds (General, Special Revenue, Debt Service, Capital Projects, and Permanent) has a budget orientation using the current financial resources measurement focus and the modified accrual basis of accounting.

Governmental funds shall have the meaning given in Section 5.13(f).