Fund Cash Balances All Governmental Types Auditor State Oh Form

Instructions and help about Fund Cash Balances All Governmental Types Auditor State Oh

what is fund balance it's simply the difference between assets and liabilities in a governmental fund so what are the different balance classifications you use on your balance sheet first non spendable or announced that can't be spent because they're in a non spendable form like inventories were prepaids which are paid for in one accounting period but not consumed until a future period like insurance or legally are contractually required to remain intact like property acquired for resale second restricted or amounts spent for purposes stipulated by the Constitution external providers or legislation third committed or amounts spent for purposes determined by ordinance or resolution fourth assigned or amounts intended to be used for specific purposes but don't meet their criteria of restricted or committed and fit unassigned only used for the general fund these amounts aren't able to be classified by any other classification [Music]