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Special revenue (or special) funds are required to account for the use of revenue earmarked by law for a particular purpose. An example would be a special revenue fund to record state and federal fuel tax revenues, since by federal and state law the tax revenue can only be spent on transportation uses.
Like many countries, several U.S. states have created sovereign wealth funds to finance certain services (typically public education) or to provide general revenue to the state government itself. [ 1 ] [ 2 ] This article comprises the known such funds and their monetary amounts.
Through the use of TIF, municipalities typically divert future property tax revenue increases from a defined area or district toward an economic development project or public improvement project in the community. TIF subsidies are not appropriated directly from a city's budget, but the city incurs loss through forgone tax revenue. [2]
According to a June 2015 Center on Budget and Policy Priorities report, the amount of basic assistance that block grants provide has also fallen, as local governments spend their federal funds on other purposes. For example, in 2015, only half of the funds received from the TANF (Temporary Assistance for Needy Families) block grant were spent ...
A common misconception is that permanent funds are required for special-purpose government entities that solely engage in business-type activities. However, this is not the case. According to Statement 34, that special-purpose government entity needs only to report the net balance of the restricted resources.
The United States Navy Working Capital Fund (NWCF) is a branch of the family of United States Department of Defense (DoD) Working Capital Funds. The NWCF is a revolving fund, an account or fund that relies on sales revenue rather than direct Congressional appropriations to finance its operations. It is intended to generate adequate revenue to ...
A sovereign wealth fund (SWF) is a fund owned by a state (or a political subdivision of a federal state) composed of financial assets such as stocks, bonds, property or other financial instruments. Sovereign wealth funds are entities that manage the national savings for the purposes of investment.
A rainy day or rainy day fund is a reserved amount of money to be used in times when regular income is disrupted or decreased in order for typical operations to continue. . In the United States, the term is usually used to apply to the funds maintained by most U.S. states to help deal with budget shortfalls in years where revenues do not match expenditur