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Fund Financial Statements nonspendable fund balance; restricted fund balance; committed fund balance; assigned fund balance; and. unassigned fund balance.
The new fund balance classifications will indicate the level of constraints placed upon how resources can be spent and identify the sources of those constraints. Constraints are broken down into five different classifications: nonspendable, restricted, committed, assigned, and unassigned.
In such cases, GAAP fund balance includes amounts from all of the subfunds, whereas budgetary fund balance typically does not. Often the timing of the recognition of revenues and expenditures is different for purposes of GAAP financial reporting and budgeting.
Expenditures are recorded when paid in cash (budgetary basis) as opposed to expenditures being recorded when the related fund liability is incurred (GAAP basis). For budgetary reporting purposes, continuing appropriations are reported with other financing sources and uses in the.
Governmental funds are classified into five fund types: general, special revenue, capital projects, debt service, and permanent funds.
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GAAP financial statements report up to five separate categories of fund balance based on the type and source of constraints placed on how resources can be spent (presented in descending order from most constraining to least constraining): nonspendable fund balance, restricted fund balance, committed fund balance,

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