Government fund structure

Question 1

What are the government funds?

Answer 1

General fund
Special revenue fund
Debt service
Permanent fund
Capital projects fund 

Question 2

What type of accounting and what focus is proprietary and fiduciary funds?

Answer 2

Full accrual basis of accounting
Economic resources measurement focus 

Question 3

What type of accounting is used and what type of focus is used in government funds?

Answer 3

Financial resources measurement focus
Modified accrural basis accounting

Question 4

Permanent fund

Answer 4

Used to report resources that are legally restricted to the extent income, and not principal, may be used for purposes supporting the reporting government’s programs for the benefit of the public.

Question 5

Special revenue fund

Answer 5

Special revenue funds account for revenues from specific taxes or other earmarked sources that (by law) are restricted or committed to finance particular activities of a government

Question 6

Proprietary funds

Answer 6

Internal service
Enterprise fund

Question 7

Fiduciary funds

Answer 7

Custodial funds
Investment
Private purpose
Pension and other employee benefit