Fund Balances: Can be positive or negative. It is the amount of unspent or overspent funds in an account or group of accounts. Depending on the type of deptID, the fund balance guidelines vary. See the Guidelines for Fund Balances for additional information. A report on fund balances is prepared in August based on June 30 fund balances. The report requires the fund balances to be reported in certain balance classifications based on LAB definitions.
Reserves: Are specific accounts where funds are set aside (in a separate deptID) to protect the institutions in cases of sudden shortfalls in revenue, to provide for extraordinary events, and to protect against unbudgeted future expenses or losses. Any spending from the reserve accounts should be approved by the department’s Vice Chancellor and a plan to replenish the reserve is required.
General Purpose Revenue (GPR) Fund Reserve Policy
Program Revenue Operations Reserves Policy