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FAR Government funds > Government funds examples > Flashcards

Government funds examples Flashcards

You may prefer our related Brainscape-certified flashcards:
AP® U.S. Government flashcards U.S. Government Basics flashcards American Government 101 flashcards
1
Q

Examples general fund

A
  • property taxes
  • Income taxes
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2
Q

General Types of government funds

A
  • Governmental funds
  • Proprietary funds
  • Fiduciary funds
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3
Q

Governmental fund classes/categories

A
  • General fund
  • Special revenue fund
  • Capital budget fund
  • Debt service fund
  • Permanent fund
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4
Q

Proprietary Fund classes/categories

A
  • Enterprise fund
  • Internal service fund
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5
Q

Fiduciary fund classes/categories

A
  • Pension Trust Funds
  • Investment Trust Funds
  • Private-Purpose Trust Funds
  • Agency (Custodial) Funds
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6
Q

Examples enterprise fund

A
  • Sewer/Water/Electric revenue/expenses
  • Swimming pool operations
  • Public Transportation
  • Anything else on a fee-for-service basis
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7
Q

Examples capital project fund

A
  • Acquisition or Construction of buildings, roads parks
  • Proceeds from Capital grants
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8
Q

Examples Permanent fund

A
  • Principal is preserved and earnings support the public
  • Endowment, maintenance, preservation, convervation, arts, trust, infrastructure funds
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9
Q

Examples General fund

A
  • public safety (police, fire, emergency)
  • Education (public schooling)
  • Public health services
  • Public works (street maintenance)
  • Public libraries
  • Government admin
  • Courts
  • Social services (welfare, child services)
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10
Q

Examples Special Revenue fund

A
  • Gasoline taxes/toll if revenues are restricted for road construction/ maintenance etc
  • Grant funds for arts, library, afordable housing, health for dedicated purposes
  • Fees or taxes used exclusively for the maintenance of parks, public spaces
  • Tourism taxes which revenues are used for tourism activities
  • 911 fees designated for 911 call centers
  • environmental fines/fees designated for environmental cleanups, recycling etc
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11
Q

Examples Debt Service fund

A
  • payments of interest and principal on bonds, and other long-term debts
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12
Q

Examples internal services fund

A

Centralized services like fleet
management, information technology, insurance, and supply services where costs are recovered through charges to user departments

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FAR Government funds (2 decks)

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