Term
Fund Balance
Also known as: Net assets, Equity
The accumulated difference between revenues and expenses for a fund over time — the fund's 'bank account' at a point in time.
Reported on the balance sheet, not the income statement. Distinguished into 'restricted,' 'committed,' 'assigned,' and 'unassigned' categories per GASB standards.
In Menlo Park
Reported annually in the ACFR.