Lesson 3: Overview of Classifying Federal Funds

Fund Types

Similar to state funds, federal funds are classified as either:

• Governmental fund type
• Proprietary fund type
• Fiduciary fund type

The fund type must be identified correctly in USAS and reconciled to SEFA’s Note 2 reconciliation (additional information available later in this tutorial).

Next: Proprietary Funds — Operating, Non-Operating and Capital Contributions