Federal Fund Accounts
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Budgetary accounts composed of moneys collected and spent by the federal government other than those designated as trust funds. Federal fund accounts include general, special, public enterprise, and intragovernmental fund accounts. (See also Standard General Ledger Chart of Accounts.)
General Fund Accounts. Accounts in the U.S. Treasury holding all federal money not allocated by law to any other fund account.
General Fund Receipt Account. A receipt account credited with all collections that are not earmarked by law for another account for a specific purpose. These collections are presented in the President’s budget as either governmental (budget) receipts or offsetting receipts. These include taxes, customs duties, and miscellaneous receipts.
General Fund Expenditure Account. An appropriation account established to record amounts appropriated by law for the general support of federal government activities and the subsequent expenditure of these funds. It includes spending from both annual and permanent appropriations.
Intragovernmental Fund Accounts. Expenditure accounts authorized by law to facilitate financing transactions primarily within and between federal agencies.
Intragovernmental Revolving Fund Account. An appropriation account authorized to be credited with collections from other federal agencies’ accounts that are earmarked to finance a continuing cycle of business-type operations, including working capital funds, industrial funds, stock funds, and supply funds. According to the Office of Management and Budget (OMB), collections of intragovernmental revolving fund accounts are derived primarily from within the government. For example, the franchise fund operations within several agencies provide common administrative services to federal agencies on a fee-for-service basis. (See also Working Capital Fund.)
Management Fund Account. An account established by the Department of the Treasury (Treasury) that is authorized by law to credit collections from two or more appropriations to finance activity not involving a continuing cycle of business-type operations. Such accounts do not generally own a significant amount of assets, such as supplies, equipment, or loans, nor do they have a specified amount of capital provided–a corpus.
Consolidated Working Fund Accounts are a subset of management funds. These are special working funds established under the authority of Section 601 of the Economy Act (31 U.S.C. §§ 1535, 1536) to receive advance payments from other agencies or accounts. Consolidated working fund accounts are not used to finance the work directly but only to reimburse the appropriation or fund account that will finance the work to be performed. Amounts in consolidated working fund accounts are available for the same periods as those of the accounts advancing the funds. Consolidated working fund accounts are shown as separate accounts on the books of Treasury but are not separately identified in the President’s budget. Transactions of these accounts are included in the presentation of the appropriation or fund account actually performing the service or providing the materials.
Public Enterprise Revolving Fund Account. A type of revolving fund that conducts cycles of businesslike operations, mainly with the public, in which it charges for the sale of products or services and uses the proceeds to finance its spending, usually without requirement for annual appropriations. Most government corporations are financed by public enterprise funds. (See Revolving Fund.)
Special Fund Accounts. Federal fund accounts earmarked by law for a specific purpose.
Special Fund Receipt Account. A receipt account credited with collections that are earmarked by law but included in the federal funds group rather than classified as trust fund collections. These collections are presented in the President’s budget as either governmental (budget) receipts or offsetting receipts. (See also Earmarking.)
Special Fund Expenditure Account. An appropriation account established to record appropriations, obligations, and outlays financed by the proceeds of special fund receipts. (See also Earmarking.)
- Chapter 7.J. Debt Ceiling in Congressional Procedure
- “Reaching the Debt Limit: Background and Potential Effects on Government Operations,” CRS Report R41633 (30-page PDF)
- “Overview of Funding Mechanisms in the Federal Budget Process, and Selected Examples,” CRS Report R44582 (45-page PDF)
- “Legislative Options for Financing Water Infrastructure,” CRS Report R42467 (29-page PDF)
- “Budgetary Treatment of Federal Credit (Direct Loans and Loan Guarantees): Concepts, History, and Issues for Congress,” CRS Report R42632 (37-page PDF)
- Congressional Operations Briefing – Capitol Hill Workshop
- Drafting Federal Legislation and Amendments
- Writing for Government and Business: Critical Thinking and Writing
- Custom Training
- Congressional Operations Poster, with Federal Budget Process Flowchart
- Federal Budgeting, a Five-Course series on CD
- Congress, the Legislative Process, and the Fundamentals of Lawmaking Series, a Nine-Course series on CD
The Federal Budget Process 2E
Citizen’s Handbook to Influencing Elected Officials: A Guide for Citizen Lobbyists and Grassroots Advocates
CongressionalGlossary.com, from TheCapitol.Net
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