What is a Fund and What Does It Mean?
The school district's accounting records, budget, and AFR
are organized and reported on a fund basis.
A fund is established for specific activities and objectives
and is operated in accordance with laws, regulations, restrictions,
or other restricted purposes.
Each fund is a separate and independent accounting entity
with its own assets, liabilities, and fund balance.
The number of funds created will depend on the school district's
operations, rather than the size. nine major funds are
listed on the AFR.
The following codes are used to designate the nine major
funds:
| 10 |
Educational
|
| 20 |
Operations & Maintenance |
| 30 |
Bond & Interest |
| 40 |
Transportation |
| 50 |
Municipal Retirement / Social Security |
| 60 |
Site & Construction / Capital Improvements |
| 70 |
Working Cash |
| 80 |
Rent |
| 90 |
Fire Prevention & Safety |
In addition to funds, there are two self-balancing groups
of accounts for establishing control and accountability for
capital assets (land, buildings, etc.) and long-term debt
(sale of bonds).
| 98 |
General Fixed Assets |
| 99 |
General Long-Term Debt |
|
