What Everyone Needs to Know About the New Fund Balance

Stephen J. Gauthier
Year Published: 

There is probably no single number in a typical state or local government’s financial statements that attracts more attention and discussion than fund balance. The Governmental Accounting Standards Board had issued guidance that fundamentally altered the classifications and terminology that governments use to present this uniquely important amount in their financial statements. This publication offers a practical way for anyone with an interest in state or local government finance to understand and profit from the new presentation.

The purpose of the publication is to furnish readers with a nontechnical explanation of the meaning of the various components of fund balance. Throughout, a simple question-and-answer format has been followed. This format is designed both to highlight the critical points discussed in the text and to allow for easy access to needed information.

Sections in the book include:
• Essential Background
• Fund Balance and its Components
• Fund Balance Policy
• Old V. New

This guide also features a glossary and twenty questions designed to allow users to test their knowledge of the material.

Paperbound. 45 pp.
LOC no. 2009924440
ISBN 978-0-89125-274-0

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