Requirements for Local Operating Funds and Associated Local Funds
Local Funds – Operating
Funds held outside the state treasury and used to make general expenditures for the daily operations of state government.
Any local fund not meeting the description in the three categories defined below (custodial; bonds; trust) must be reported in the Local Funds – Operating category, including any local fund for component units. The D23 Agency Fund (D23 fund) for any component unit’s local fund should include “CU” at the beginning of the title.
Local Funds – Custodial
Funds held outside the state treasury containing assets belonging to individuals and other entities held temporarily in a custodial capacity.
Local Funds – Bonds
Funds held outside the state treasury created by bond resolution requirements that specify the maintenance of separate funds to account for the bond program.
Local Funds – Trust
Funds held outside the state treasury in a trustee capacity for individuals, private organizations or other governmental entities.