What is the special revenue fund under GASB?
The special revenue fund will be used when it is necessary to provide separate reporting of resources that are restricted or committed (not assigned) to expenditure for a specific purpose other than debt service or capital projects.
Some examples of items that would fall into the special revenue fund include:
1) A state law-enforcement grant that is required to be used for training of public officers (e.g. police officers, firefighters etc.)
2) A state and federal grant used to promote public health and mental health programs.
3) Private donations that must be used to repay and maintain parks and other recreational facilities.
4) State and federal aid for elementary and secondary education.
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