Title: Section 444.6 - Fund balances
444.6 FUND BALANCES. (3150)
(a) NON-PROFIT (3151)
(1) UNRESTRICTED FUND BALANCE
(i) 2290 FUND BALANCE
2292 Depreciation Funds
2294 Transfers from Restricted Funds for Capital Outlay
2296 Value of Donated Property, Plant and Equipment
(ii) Unrestricted Fund balances represent the difference between the total of Unrestricted Fund Assets and Unrestricted Fund Liabilities, i.e., the net assets of the Unrestricted Fund.
(iii) Separate sub-accounts may be maintained for the above when applicable.
(iv) The Transfers from Restricted Funds for Capital Outlay account should be credited for the cost of capital items purchased directly by the Unrestricted Fund with funds from the Plant Replacement and Expansion Fund. The fair market value of donated property, plant and equipment (at the date of donation) should be credited to the Donated Property, Plant and Equipment account. At the end of the year these accounts should be closed out to the Fund Balance account.
(v) Depreciation Funds (account 2292) represents amounts restricted by third-party payors for replacement of specified assets.
(2) PLANT REPLACEMENT AND EXPANSION FUND BALANCE
(i) 2690 FUND BALANCE
2691 Restricted Project Funds
2692 Depreciation Funds
2693 Donor-Restricted Funds
2695 Transfers to Unrestricted Fund for Capital Outlay
2696 Value of Donated Property, Plant and Equipment
2697 Transfers to Operating Fund for Operating Purposes
(ii) The credit balances of these accounts represent the net amount of this restricted fund's assets available for its designated purpose. These accounts must be credited for all income earned on restricted fund assets, as well as gains and losses on the disposal of such assets. If, however, such items are to be treated as Unrestricted Fund income (considering legal requirements and donor intent), the Restricted Fund Balance account should be charged, and the Due to Unrestricted Fund account credited, for such income.
(iii) Depreciation Funds (account 2692) represents amounts restricted by third-party payors for replacement of specified assets.
(iv) Accounts 2695 and 2697 are debit balance accounts and during the year the balance of the accounts would reflect the amounts transferred to the Unrestricted Fund for capital outlay and operating purposes. At the end of the year the balances of these sub-accounts should be closed out to the Fund Balance account.
(v) Account 2696 reflects the fair market value, at the date of donation, of donor-restricted property, plant and equipment.
(3) SPECIFIC PURPOSE FUND BALANCE
(i) 2790 FUND BALANCE
2791 Restricted Project Funds
2793 Donor-Restricted Funds
2795 Transfers to Unrestricted Fund for Capital Outlay
2796 Value of Donated Property, Plant and Equipment
2797 Transfers to Operating Fund for Operating Purposes
(ii) The credit balances of these accounts represent the net amount of this restricted fund's assets available for its designated purpose. These accounts must be credited for all income earned on restricted fund assets, as well as gains on the disposal of such assets. If, however, such items are to be treated as Unrestricted Fund income (considering legal requirements and donor intent), the Restricted Fund Balance account should be charged, and the Due to Operating Fund account credited, for such income.
(iii) Accounts 2795 and 2797 are debit balance accounts and during the year the balance of the accounts would reflect the amounts transferred to the Unrestricted Fund for capital outlay and operating purposes. At the end of the year the balances of these sub-accounts should be closed out to the Fund Balance account.
(iv) Account 2796 reflects the fair market value at the time of donation of donor-restricted property, plant and equipment.
(4) ENDOWMENT FUND BALANCE
(i) 2890 FUND BALANCE
2893 Donor-Restricted Funds
2895 Transfers to Unrestricted Funds for Capital Outlay
2896 Value of Donated Property, Plant and Equipment
2897 Transfers to Operating Fund for Operating Purposes
(ii) The credit balances of these accounts represent the net amount of this restricted fund's assets available for its designated purpose. These accounts must be credited for all income earned on restricted fund assets, as well as gains on the disposal of such assets. If, however, such items are to be treated as Operating Fund income (considering legal requirements and donor intent), the Restricted Fund Balance account should be charged, and the Due to Operating Fund account credited, for such income.
(iii) Accounts 2895 and 2897 are debit balance accounts and during the year the balance of the accounts would reflect the amounts transferred to the Unrestricted Fund for capital outlay and operating purposes. At the end of the year the balance of these sub-accounts should be closed out to the Fund Balance account. (iv) Account 2896 reflects the fair market value at the time of donation of donor-restricted property, plant and equipment.
(b) INVESTOR-OWNED CORPORATION. (3152)
2350 STOCKHOLDER'S EQUITY
2351 Preferred Stock
2352 Common Stock
2353 Treasury Stock
2360 Additional Paid-in Capital
2370 Retained Earnings
The total of these equity accounts reflects the difference between the total assets and the total liabilities of the Investor-Owned Corporation.
(c) INVESTOR-OWNED PARTNERSHIP OR SOLE PROPRIETOR. (3153)
2380 CAPITAL--PARTNERSHIP OR SOLE PROPRIETOR
2381 Capital
2382 Partner's Draw
The total of these accounts represents the net assets of the Partnership or Sole Proprietor.
Volume
VOLUME C (Title 10)