The excess of the asset of a fund over the liability and reserve. (See Deficit).
Amounts shown as fund balance represent monies which remain unspent after all budgeted expenditures have been made. North Carolina statutes dictate that a portion of fund balance is not available for appropriation in the following fiscal year.
The balance in a GL account, recorded in a subcode beginning with 3 (3xxx). The fund balance reflects the net SL revenues and expenses, and GL fund additions and deductions through the life of the GL account and its associated SL accounts.
In governmental funds, this is the difference between fund assets and fund liabilities. Governmental fund balances should be segregated into reserved and unreserved amounts. Refer to RESERVED FUND BALANCE and UNRESERVED FUND BALANCE.
The difference between fund assets and fund liabilities of governmental and similar trust funds.
The amount by which assets exceed liabilities in a governmental fund.
the balance remaining after accounting for all liabilities and revenue incurred during that year, plus the previous year's fund balance. It is calculated at the end of each fiscal year.
The excess of an entity’s or fund’s assets over its liabilities. A negative fund balance is sometimes called a deficit.
The excess of assets of a fund over its liabilities. This balance may be available to finance the succeeding year's budget.
appears between the bottom of the Statement of Activities or Balance Sheet and is the difference between the Total Assets and Total Liabilities.
Net worth in a nonprofit organization; total assets minus total liabilities.
The county's accumulated net earnings, or total assets minus total liabilities.
A term used to express the equity (assets minus liabilities) of governmental fund types and trust funds.
The excess of the fund's assets and estimated revenues for the period over its liabilities, reserves, and available monies for the period.
A fund balance is created when the school district has money left over at the end of its fiscal year from either under spending the budget or taking in additional revenue. Part of the fund balance (appropriated fund balance) may be applied as revenues to the district's following year budget. A portion - up to two percent of the total budget - may also be set aside (unappropriated fund balance) to pay for emergencies or other unforeseen problems.
A term used to express the equity (assets minus liabilities) of government fund and fiduciary fund types. However, for budgeting purposes, a working capital definition of current assets minus current liabilities is used for the computation.
The assets (less liabilities) of a particular fund.
Net worth or equity in the funds reflected on the balance sheet of a financial statement for a non-profit organization.
In nonprofit organizations, what is left after liabilities are subtracted from assets.
Value of the excess of assets over liabilities in any fund group or subgroup.
Within a specific operating fund, the net of expenditures and revenues.
The difference between assets and liabilities in a fund. Also defined as the cumulative results of a fund.
When liabilities are subtracted from assets, there is a fund balance. A positive fund balance means there are more assets than liabilities; a negative fund balance means just the opposite. Fund balance can be complicated by the fact that part of the fund balance is reserved and part unreserved. The difference between reserved and unreserved is that the unreserved can potentially be authorized for future expenditures while the reserved cannot. Additionally, the fund balance is a residual and not necessarily a cash amount.
