Governmental Fund Accounting

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Governmental funds (General, Special Revenue, Capital Projects, Debt Service, Permanent) → modified accrual, current financial resources
Proprietary (Enterprise, Internal Service) and Fiduciary → full accrual
Modified accrual revenue = measurable and available (~60 days); expenditures, not expenses
No long-term assets/liabilities in governmental funds; capital purchases = expenditures
Fund balance: Nonspendable, Restricted, Committed, Assigned, Unassigned
Encumbrance reserves an appropriation when a PO is issued; reversed on receipt