Maintain Funds
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Modified on: Wed, 25 May, 2022 at 10:55 AM
What This Screen Shows
- This screen shows preset fund types that are used in conjunction with the Fixed Assets module.
- This screen also allows you to classify funds by its type where appropriate in Financial Management.
Best Practices
- Preset Types – These types are preset by OpenRDA and are not to be edited or changed.
Maintain Funds
- Finance → Financial Management → Setup → Financial Reporting → Maintain Funds
| Fund Classifications |
|---|
| General Fund | The chief operating fund |
| Special Revenue | Used when ear-marking funds for a particular purpose |
| Capital Projects | Used to manage capital acquisition and construction projects |
| Debit Service | Monies set aside to account for current or future debt |
| Enterprise Funds | Used when governments are levying user charges to recover full full cost of services provided |
| Internal Service | Used when government agencies are attempting to account for the financing of goods and or services provided by one department or agency to other departments or agencies of government |
| Trust & Agency | Used for all types of Trust and Agency, Expendable Trust, Non-Expendable Trust and Pension Trust Funds |
| Fixed Assets | Used by governments to manage their fixed asset groups; there are no operations to be reported generally from this group regarding near term budgets; as a general practice, changes in fixed assets are disclosed in notes to the financial statements |
| Long Term Debt | Used by governments to manage their long-term debt groups; there are no operations to be reported generally from this group regarding near term budgets; as a general practice, changes in long-term assets are disclosed in notes to the financial statements |
| Opt. = Optional Rec. = Recommended Req. = Required |
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