A fund consisting of resources received and held by the governmental unit as an agent for others; for example, taxes collected and held by a municipality for a school district. Note. Sometimes resources held by one fund of a governmental unit for other funds of the unit are handled through an agency fund. An example would be taxes held by an agency fund for redistribution among other funds.
A fund normally used to account for assets held by a government as an agent for individuals, private organizations or other governments, and/or other funds. The agency fund also is used to report the assets and liabilities of Internal Revenue Code, Section 457, deferred compensation plans.
A fund used to account for assets held by a governmental unit as agent for individuals, private organizations, and other governmental units.
A Fund established by a charitable organization. Annual income from the fund is designated to the charity itself for unrestricted use.
Fund consisting of assets where the holder agrees to remit the assets, income from the assets, or both, to a specified beneficiary in due course or at a specified time.
A fund consisting of resources received and held by the school unit as a agent for the students.