5511 Types of Funds

2000                          5511

                           Non-Instructional/Business

                           Operations

SUBJECT: TYPES OF FUNDS
 

        Funds shall be established as follows:

1. General Fund
   This is the principal fund of the District.  It includes all operations not required to be recorded in other funds.
2. Capital Fund
   These funds are provided to account for capital projects financed from the following:
   1. Current appropriations
   2. Transfers from other funds
   3. Bonds
   4. Bond Anticipation Note
   5. Capital Notes
   6. Capital Reserve Fund
3. School Lunch Fund
   This is a fund to segregate the revenues and expenses of the District’s lunch and breakfast programs.
4. Trust and Agency Fund
   This is a fund to account for money and other assets received and held by the District treasurer for the District, individuals or other governmental units., e.g., bonds for staff, retirement, insurance, prizes, trusts and memorials, etc.
5. General Fixed Asset Fund
   This is an inventory of fixed assets with the monetary value of the inventory.
6. Capital Indebtedness Fund
   This is an account to record the liability of outstanding capital indebtedness of bonds and notes.
7. Special Fund
   These are accounts required to separate the receipts and expenditure of programs and/or projects not covered in the above.
8. Extracurricular Funds
   This is an accounting of receipts and expenditures from student operated groups, i.e., student council, class funds, clubs, etc.

Adopted:  5/8/00