It states that the revised best practice is focused on the appropriate level and only one portion of fund balance from the general funding. The other developments are discussed such as the GFOA executive board directing committees to develop guidance on appropriate levels of fund balance, and ...
In 2002, the Government Finance Officers Association (GFOA) issued a recommended practice (now a best practice) on The Appropriate Level of Unreserved Fund Balance in the General Fund. In 2009, the Governmental Accounting Standards Board (GASB) issued GASB Statement No. 54, Fund Balance Reporting...