Fund equity and other credits shall be for residual interest in the assets of a fund that remains after deducting its liabilities and classified as follows:
- (a) Account 2440, “Nonspendable Fund Balance,” shall be for segregation of a portion of a fund balance for non-cash items such as inventories or prepaid items;
- (b) Account 2450, “Restricted Fund Balance,” shall be for segregation of a portion of a fund balance set apart for funds legally restricted such as, but not limited to, a grant;
- (c) Account 2460, “Committed Fund Balance,” shall be for segregation of a portion of a fund balance set apart by the legislative body for a particular purpose such as, but not limited to, the unexpended portion of a non-lapsing special warrant article, capital reserve fund, or expendable trust fund;
- (d) Account 2490, “Assigned Fund Balance,” in the general fund shall be for segregation of a portion of a fund balance for a specific future use such as, but not limited to, commitments related to unperformed contracts or encumbrances;
- (e) Account 2530, “Unassigned,” in the general fund shall be for the unassigned residual interest in the assets of a fund that remains after deducting its liabilities, but shall only be used for a deficit in all other funds;
- (f) Account 2610, “Municipal Contributed Capital,” shall be for permanent contribution by a municipality to a proprietary fund; and
- (g) Account 2620, “Other Contributed Capital,” shall be for permanent contribution by entities other than the municipality to a proprietary fund.
Source. #4940, eff 9-25-90; ss by #6335, eff 9-24-96 (from Rev 1708); ss by #8179, eff 9-24-04; ss by #10214, eff 10-24-12; ss by #13489, eff 11-15-22 (see Revision Note at chapter heading for Rev 1700)