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<br /> <br />Fund Financial State ents <br />Overview <br /> <br />. Govemmental - general citizen services <br />- Balance Sheet <br />- Statement of Revenues, Expenditures, and Changes in Fund <br />Balance <br />. Proprietary - business-like activities (Water Sales) <br />- Statement of Net Assets (Balance Sheet) <br />- Statement of Revenues, Expenses, and Changes in Fund Net <br />Assets <br />- Statement of Cash Flows <br />. Fiduciary - holding money in trust for others <br />- statement of Fiduciary Net Assets (Balance Sheet) <br />- Statement of Changes in Fiduciary Net Assets <br /> <br /> <br />HISTORY OF FUND ACCOUNTING <br /> <br />. Need to maintain separate accounting ability <br />over financial resources dedicated for specific <br />purposes. <br />. A government is not treated as a single integral <br />entity. It is viewed as a collection of smaller, <br />separate accounting entities known as funds. <br /> <br /> <br />. A Fund (is) <br />- Represents a part of the activities of some <br />organization <br />- An accounting entity <br />. Self.balancing set of accounts, reflecting the assets, <br />liabiliUes,nelassetsandchangesinthosebalances <br />- Segregated for specific activities (an fiscal entity) <br />. So as to ensure compliance with appropriate regulations or <br />restrictions <br /> <br />4 <br />