Hello, Class

As the largest fund when measured in terms of expenditures, General Fund is used for any transaction not identified as a permanent, debt service, capital projects or special revenue fund transaction. Each government has a single general fund. The general fund and many special revenue funds record budgets. Their accounting systems are designed to assure compliance with budgets.

I would also like to introduce the Rainy Day Fund. There are many interesting articles about the Rainy Day Fund in times of Covid-19, such as this one - TX Rainy Day Fund. Many states have tapped these reserve funds to plug budget holes during pandemic.

Class,

Can you locate your state's Rainy Day Fund and share with us what you find interesting?

Located in Tennessee