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This document provides a detailed summary of restricted current funds available and applied for the budget year 2012-13 at Austin Peay State University, highlighting estimated revenues and expenditures.

How to fill out summary of restricted current

How to fill out Summary of Restricted Current Funds Available and Applied

1. Gather all relevant financial records related to restricted current funds.
2. Identify all sources of restricted funds, including grants, donations, and other contributions.
3. List each source of restricted funds in a separate line.
4. For each source, indicate the total amount available in the 'Available' column.
5. Document how much of the funds have been spent or applied in the 'Applied' column.
6. Ensure that the total amounts in the 'Available' and 'Applied' columns are accurately calculated.
7. Review the completed summary for accuracy and compliance with any relevant guidelines.

Who needs Summary of Restricted Current Funds Available and Applied?

1. Financial managers or accountants in non-profit organizations.
2. Grant administrators responsible for managing restricted funds.
3. Board members or stakeholders who require oversight on fund usage.
4. Auditors or regulatory bodies that review financial compliance.

People Also Ask about

What can restricted funds be used for?

Key Takeaways. A restricted fund is any cash balance that has been earmarked for specific or limited use. Often associated with funds held by donations to nonprofit organizations or endowments, restricted funds ensure that donors alone can direct the usage of those assets.

What are examples of restricted cash?

There are many types of restricted cash. For example, companies sometimes set aside money for a specific business purpose, such as a loan repayment, a legal retainer or a plant expansion.

What does restrict money mean?

Restricted cash is the money a company reserves for a specific purpose and isn't accessible for general business use. While legal regulations may require a company to reserve cash, an organization can also do so voluntarily.

How do you report restricted cash on a balance sheet?

Restricted cash may be classified as either a current or noncurrent asset. If it's expected to be used within one year of the balance sheet date, the cash should be classified as a current asset. However, if it will be unavailable for use for more than a year, it should be classified as a noncurrent asset.

Should restricted cash be reported always as a noncurrent asset?

Treatment of Restricted Cash on Balance Sheet Restricted cash can be classified as either a current or non-current asset: Current Asset – If anticipated to be used within one year of the balance sheet date, the amount should be classified as a current asset.

Can restricted cash be a current asset?

Restricted cash may be classified as either a current or noncurrent asset. If it's expected to be used within one year of the balance sheet date, the cash should be classified as a current asset. However, if it will be unavailable for use for more than a year, it should be classified as a noncurrent asset.

Where to put restricted cash on balance sheet?

Restricted cash and restricted cash equivalents are usually presented separately on the face of the balance sheet, or within other assets or similar line items.

What does restricted money mean?

Restricted cash is the money a company reserves for a specific purpose and isn't accessible for general business use. While legal regulations may require a company to reserve cash, an organization can also do so voluntarily.

What is restricted money?

In the non-profit industry, restricted funds refer to a reserve of money that can only be used for specific projects or purposes. The funds can be restricted because the donor wants the money to go to a specific program or the donor wants the money to be utilized after a specific time or event, such as an anniversary.

Can restricted cash funds be reported as a current asset?

Restricted Cash on the Balance Sheet Cash that is restricted for one year or less is categorized under current assets, while cash restricted for more than a year is categorized as a non-current asset.

For pdfFiller’s FAQs

What is Summary of Restricted Current Funds Available and Applied?

The Summary of Restricted Current Funds Available and Applied is a financial document that outlines the total restricted funds available for specific purposes and how those funds have been allocated or spent during a particular period.

Who is required to file Summary of Restricted Current Funds Available and Applied?

Organizations that receive restricted funding, such as non-profits, educational institutions, and government agencies, are typically required to file this summary to ensure compliance with the terms of the funding.

How to fill out Summary of Restricted Current Funds Available and Applied?

To fill out the summary, users should gather data on available restricted funds, detail the purpose of each fund, record any applications or expenses related to those funds, and calculate the remaining balance at the end of the reporting period.

What is the purpose of Summary of Restricted Current Funds Available and Applied?

The purpose of the summary is to provide transparency and accountability in the management of restricted funds, ensuring that stakeholders can see how funds are being utilized in accordance with donor or regulatory requirements.

What information must be reported on Summary of Restricted Current Funds Available and Applied?

The report must include the total amount of restricted funds available, disbursements made, remaining balances, the purpose of each fund, and any relevant notes regarding the conditions or restrictions placed on the funds.