• Home Page
  • Difference Between Reserve And Reserve Funds

Difference Between Reserve And Reserve Funds

Decent Essays
Show More
The difference between reserve and reserve funds are as follows:
Reserve
• working capital or operating fund
• funded by general revenue (i.e. taxes)
• allocation or accumulated surplus
• do not earn interest
• examples, contingencies, equipment replacement, winter maintenance
• established and pre-determined purpose
• must be applied to that purpose only and at Council discretion and approval

Reserve Funds - overall
• investment fund
• physical isolation of money/asset
• interest earning
• voluntary or for legal/contractual reasons
• separate bank account
• interest to be included monthly
• invested until required

Obligatory Reserve Funds are created as per statute for received revenues and are restricted to be utilized for the sole purpose

Related Documents

  • Improved Essays

    Nt1330 Unit 3 Paper
    • 596 Words
    • 3 Pages

    Nt1330 Unit 3 Paper

    Question 1 The unit clerk is not considered part of the variable staff because his or her salary remains the same regardless of the increase in the level of activity. A unit clerk is responsible for some duties that relate to organizing and making updates of information about the nursing units, coordinating the work of the unit and also with other departments and units. Thus, regardless of the amount of work they do on holidays and vacations, their pay stays constant and does not raise or reduce. Question 2…

    • 596 Words
    • 3 Pages
    Improved Essays
    Read More
  • Decent Essays

    Lora Lee Eaker Case Summary
    • 538 Words
    • 3 Pages

    Lora Lee Eaker Case Summary

    Partial distribution for the estate of the Lora Lee Eaker Trust dated / /2016 by appointed estate trustee George W, Eaker Jr. On this date / /2016 George W, Eaker distributed the principal and interest received from three Certificate of Deposit and one savings account held in the Montgomery Bank of Cape Girardeau, MO that belongs to the Lora Lee Eaker Trust in the amount of $206,220.78. Two certificates (1) $55,556.27 (2) $63,071.27 were being held in the First Missouri Bank of Cape Girardeau, MO and one certificate (1) $74,301.79 was being held in Wood and Houston Bank of Cape Girardeau, MO.…

    • 538 Words
    • 3 Pages
    Decent Essays
    Read More
  • Improved Essays

    Frosty Company Case Study
    • 1045 Words
    • 5 Pages

    Frosty Company Case Study

    Simon was correct to question whether or not Frosty Co. could capitalize some of the interest on the new loan. After checking with GAAP, it was determined that Frosty Co. cannot capitalize the interest on the new loan as part of the construction project on the new factory. According to GAAP, three conditions must be met in order for the interest to be capitalized: expenditures for the asset must have been made, activities that are needed to get the asset ready for its use are already in progress, and interest costs are being incurred. Unfortunately, Frosty Co. does not meet the second requirement.…

    • 1045 Words
    • 5 Pages
    Improved Essays
    Read More
  • Improved Essays

    Case Study: Mystery Creek Resources
    • 1164 Words
    • 5 Pages

    Case Study: Mystery Creek Resources

    Mystery Creek Resources, Inc. (MCRI), a wholly-owned subsidiary of Fire River Gold Corporation, proposes to continue to operate, reclaim, and close an underground precious metal mine and associated mill known as the Nixon Fork Mine Project (Project). The Project is located approximately 32 miles northeast of McGrath and eight miles north of Medfra in west-central Alaska (Figure 1; see Appendix A for report figures). The Project is not connected with the Alaska road system; therefore site access is by charter plane flown out of Anchorage, Fairbanks, or McGrath. The Project includes a 4,200-foot long airstrip, which is the sole source of access to the site for all workers, equipment, and supplies.…

    • 1164 Words
    • 5 Pages
    Improved Essays
    Read More
  • Improved Essays

    Busn642 Research Paper
    • 489 Words
    • 2 Pages

    Busn642 Research Paper

    BUSN642: Nonprofit Chart of Accounts A chart of accounts in the most basic definition is a list of accounts that is used to show the various accounts that meet the needs of the organization; and although all chart of accounts may contain some general areas of focus and categories, each organization may vary in some of the details of the accounts listed. The larger and more complex an organization may be, the more accounts it may have, which is why it is important that chart of accounts be numbered in a logical way and follow any standards for its specific industry (NetMBA, n.d.). Accounts will vary according to the organization. Many organizations may now use accounting software to aggregate information into their financial statement (Accounting Tools, n.d.). The chart of accounts is important because an organized list of accounts data lays the foundation for keeping track of any transactions going in and out of the organization and provides the status of the accounts to those making decisions internally…

    • 489 Words
    • 2 Pages
    Improved Essays
    Read More
  • Improved Essays

    Commercial Lease Agreement
    • 529 Words
    • 3 Pages

    Commercial Lease Agreement

    Texas Commercial Lease Agreement Texas Commercial Lease Agreement is a legal document to govern the lease transaction of the property within the Texas State. The lease agreement is binding on both the lesser and the lessee. This 20 page document template comprises of directives of using the property within the allotted lease period. Furthermore, it directs the code of conduct for both the lesser and the lessee under various situations and conditions. Texas Commercial Lease Agreement has 20 articles and subsections.…

    • 529 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Gundecking In The Navy
    • 665 Words
    • 3 Pages

    Gundecking In The Navy

    Gundecking refers to the Naval term of falsifying official reports, more so lying about meeting certain requirements that were never carried out accordingly (Gundeck, n.d.). In the United States Navy, this can span from inflating the supply count on a naval ship to committing fraud and bribery. Gundecking can sometimes seem innocuous but the gravity of not presenting the correct information can have serious consequences. According to the Origin of Navy Terminology, there is no clear history or origin of the tenn "gundecking" but this tenn has written documentation of how this tenn was used in the past.…

    • 665 Words
    • 3 Pages
    Improved Essays
    Read More
  • Great Essays

    Marx's Generalized System: A Case Study
    • 1766 Words
    • 8 Pages

    Marx's Generalized System: A Case Study

    The lack of a viable currency in colonial New England is apparent, as is the restriction of trade due to the lack of monies. While an abundant supply of specie could have remedied this problem it lacked the ability to create more money in the way that colonial paper bills did. Marx’s generalized system will be used to demonstrate the process in which this occurred. Marx’s generalized system, which can be represented as m-m-c…p…c’-m’-m’’.…

    • 1766 Words
    • 8 Pages
    Great Essays
    Read More
  • Improved Essays

    Permanent Funds Are Classified As Fiduciary Funds
    • 1958 Words
    • 8 Pages

    Permanent Funds Are Classified As Fiduciary Funds

    10 & 11 - All Possible Questions TRUE/FALSE 1. Per GASB Statement No. 34, permanent funds are classified as fiduciary funds. 2. In accounting for permanent funds only the income can be spent; the principal must be preserved intact. 3.…

    • 1958 Words
    • 8 Pages
    Improved Essays
    Read More
  • Superior Essays

    Penny On The Economy Essay
    • 847 Words
    • 4 Pages

    Penny On The Economy Essay

    Does the Penny Positively Impact the U.S. Economy? Tim Forsyth David Douglas High School Abstract In recent years, the penny has gained an abundance of unwanted attention, creating a controversy around whether or not it should it should be produced any longer. There are many advocates for both sides of the coin and this paper examines each approach.…

    • 847 Words
    • 4 Pages
    Superior Essays
    Read More
  • Improved Essays

    Branches Of Government Essay
    • 498 Words
    • 2 Pages

    Branches Of Government Essay

    The Government has powers, which include Enumerated, Reserved, and the states have Concurrent Powers. But, it wasn't always like that. Before this, one was always stronger than another. It had taken years of fighting and discussing before the Government were able to share powers. The three branches of the Government are the Legislative, Executive, and Judicial.…

    • 498 Words
    • 2 Pages
    Improved Essays
    Read More
  • Improved Essays

    Difference Between Reconstruction And Reconstruction
    • 846 Words
    • 4 Pages

    Difference Between Reconstruction And Reconstruction

    He, in opposition to Radical Republicans, agreed with Lincoln’s Ten-Percent Plan and pushed it forward. Johnson’s goal for Reconstruction was to see a speedy restoration of the states, believing that they had never truly left the Union, and thus should again be recognized as loyal citizens to the United States. To Johnson, African-American suffrage was a distraction, and it should be a state’s responsibility to decide who should vote. Johnson, pushing these policies through the government, gave favor to the South. This gave them an easy way back into the Union.…

    • 846 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Difference Between Homeland Defense And Homeland Security
    • 648 Words
    • 3 Pages

    Difference Between Homeland Defense And Homeland Security

    Understanding the difference between Homeland Security and Homeland Defense is blurred, they have similar tasks and mission, and we use descriptive definition verses legal definition to characterize them. Both have the same goals of protecting United States but utilizes available resources differently due the nature of the legalities of the Constitution and mission sets. Resources that come from local and state level are part of the Homeland Security structure are limited, with the exception of the National Guard due to its unique nature, which we will get to a little later. Homeland Security is first a local matter. It will be the first responders, local community that will have the immediate effect from a terrorist attack; they bear the responsibility to protect their community.…

    • 648 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Strategic Petroleum Reserve Case Study
    • 778 Words
    • 4 Pages

    Strategic Petroleum Reserve Case Study

    The United States can turn to the emergency stockpiles of petroleum products managed by the Department of Energy 's Office of Petroleum Reserves (OPR). The mission of the OPR is to protect the United States from severe petroleum supply disruptions through the purchase, storage, distribution and management of emergency petroleum stocks and to carry out U.S. obligations under the International Energy Program. The OPR manages three stockpiles: the Strategic Petroleum Reserve, the Northeast Home Heating Oil Reserve, and the Gasoline Supply Reserve. The Strategic Petroleum Reserve is designed to hold 713.5 million barrels of oil which is the largest government-owned stockpile of emergency crude oil in the world.…

    • 778 Words
    • 4 Pages
    Improved Essays
    Read More
  • Improved Essays

    Persuasive Essay On Gender Discrimination
    • 2375 Words
    • 10 Pages

    Persuasive Essay On Gender Discrimination

    During the early years in America women did not have the same right and the privileges as men. Women were given , the role to stay at home to take care of the children and tending to domestic affairs. This changed when Congress passed the constitutional amendment allowing women to vote. Though the amendment failed In 1972 the Equal Rights Amendment was submitted by congress.…

    • 2375 Words
    • 10 Pages
    Improved Essays
    Read More

Related Topics

Ready To Get Started?
Discover
Company
Follow
©2024 Cram.com
Privacy Policy |  About Ads |  Site Map |  Advertise  | 
  • Cookie Settings