A finished ACC-658 Topic 2 fund type assignment schedule example, placing a county's activities into governmental, proprietary and fiduciary funds and explaining what each boundary lets the county demonstrate. Searches like "acc 658 topic 2 assignment example", "acc658 topic 2 sample" and "acc-658 topic 2 example" land here.
What a finished ACC-658 Topic 2 fund type assignment schedule looks like
The finished schedule is a table of ten activities, each with its fund, its fund category and the reason for the choice. General administration, the sheriff and parks go to the general fund, since no outside party restricts the taxes funding them. The state's share of gas tax, which must be spent on roads, goes to a special revenue fund. Bond proceeds for a new courthouse go to a capital projects fund, and money set aside for principal and interest on general obligation bonds to a debt service fund. A cemetery endowment whose principal must be kept while its earnings maintain the grounds becomes a permanent fund. The water utility, charging customers for service, is an enterprise fund, and the vehicle fleet billing other departments is an internal service fund. Employee pension assets go to a pension trust fund.
How an ACC-658 Topic 2 example is structured
The schedule is preceded by a short argument and followed by two judgment calls. It opens by stating why governments use funds at all: money arriving with conditions has to be shown to have met them, and a single pool cannot show that. The three fund categories are defined next, governmental, proprietary and fiduciary, with what each measures and whose resources it holds. The assignment table follows, one row per activity, with the fund, the category, the source of any restriction and the reason. A section on the golf course explains why it may sit in an enterprise fund because it charges users, and why nothing requires that choice. A second judgment call turns on who benefits from an endowment's earnings, the county or individuals. The schedule closes by naming what each fund lets a reader verify about the money inside it.
Why a single pool fails
Gas tax for roads, bond money for a courthouse and general taxes cannot be shown to have met their separate conditions once they sit in one account.
Three categories defined before assignment
Governmental, proprietary and fiduciary funds are defined by what they measure and whose resources they hold, so each assignment in the table has a stated test.
Restriction source named in each row
The state statute behind the gas tax, the bond covenant behind the courthouse money and the trust terms behind the endowment are each cited beside their fund.
An enterprise fund chosen, not required
The golf course charges users and so may be an enterprise fund, while its taxpayer-backed debt and the absence of any cost-recovery mandate mean nothing requires one.
Who benefits decides the endowment's fund
Earnings kept for the county's own cemetery make a permanent fund, whereas a scholarship endowment paying individual students would belong in a private-purpose trust fund.
Money held for others kept apart
Property taxes collected for the school district sit in a custodial fund, because the county holds them briefly and cannot spend any of them.
Where marks go in ACC-658 Topic 2
Treating funds as departments, one for each office on the organization chart, is the first place marks go, because a fund is defined by the conditions on its money and not by who spends it. Papers that put the gas tax in the general fund with a note that it is for roads lose the mechanism that shows the condition was met. Assigning the water utility to a governmental fund measures it on the wrong basis and hides whether its charges cover its costs. Calling every fee-charging activity a required enterprise fund overstates the rule, and the golf course shows the difference between permitted and required. Confusing a permanent fund with a private-purpose trust misses that the question is who benefits from the earnings. Schedules with no restriction source per row give a reader no way to confirm any assignment.
Get an ACC-658 Topic 2 example written to your instructions
Send the ACC-658 Topic 2 instructions, the rubric in your classroom and the government and activities your section was given. A custom example is written to those criteria, with the purpose of funds argued, the three categories defined, every activity assigned with its restriction source and each judgment call explained, returned in 24 to 48 hours. The first one is free.
ACC-658 Topic 2 questions, answered
Is a fund like a corporate segment?
No, and the difference is the point of the topic. A segment reports part of one business so readers can judge its performance, and its resources can be moved wherever management likes. A fund is a separate set of accounts for resources carrying conditions, and its boundary exists to prove those conditions were honored. Money cannot simply be shifted out of a special revenue fund to cover general costs.
When does a government need a special revenue fund?
When a specific revenue source is restricted or committed to a purpose other than debt service or capital projects, and that source makes up a substantial part of what flows into the fund. The state's gas tax share, legally limited to road work, is the standard case. Where a restricted amount is small, some governments track it within the general fund, and the paper should say which approach its facts support.
Why is the pension plan in a fiduciary fund?
Because the assets are held for the employees and retirees, not for the county's own use. The county holds them in trust and cannot spend them on services. Fiduciary funds report such resources separately and are left out of the government-wide statements, which describe only what the government itself can use. Putting pension assets alongside general resources would overstate what the county has available.