Residual interest in the assets of a fund that remains after deducting its liabilities shall be classified as follows:
- (a) Account 2440, nonspendable fund balance, classification 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;
- (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, county contributed capital, classification shall be for permanent contribution by a county to a proprietary fund;
- (g) Account 2620, other contributed capital, classification shall be for permanent contributions by entities other than the county to a proprietary fund; and
- (h) Account 2790, retained earnings, classification shall be for the accumulated earnings of a proprietary fund.
Source. #5455, eff 8-28-92; ss by #6808, eff 7-21-98; ss by #8687, eff 7-21-06; ss by #10652, eff 8-8-14 (from Rev 2207.03); ss by #14027, eff 7-16-24