54, Fund Balance Reporting and Governmental Fund Type Definitions, which replaces the traditional categories of reserved and unreserved fund balance with five new categories (i.e., nonspendable, restricted, committed, assigned, and unassigned) that represent a fundamentally different approach to ...
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 ...