Define Fund Balance
Fund Balance: For accounting aims, the excess of a fund’s assets over its liabilities. And for budgeting aims, the surplus of a fund’s resources over its expenses.
Unanticipated Cost or Funding Shortage: A lack or scarcity of (a) cash in a fund, (b) expenses authority due to an inadequate appropriation, or (c) expenses authority due to a cash problem (example, reimbursements not received on a timely base).
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