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This document summarizes the restricted revenues and expenditures for Middle Tennessee State University's budget for the fiscal year 2012-13, detailing various sources of funding, including tuition,

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 documents related to restricted current funds.
2. Identify each source of restricted funds, including donations, grants, and other contributions.
3. List the total amount available for each source in a separate line.
4. Detail the specific restrictions placed on each fund, including any conditions attached to the use of the funds.
5. Document any expenditures made from the restricted funds, clearly indicating which fund the expenditure was made from.
6. Calculate the remaining balance for each fund after applying the expenditures.
7. Review the completed summary for accuracy before finalizing.

Who needs Summary of Restricted Current Funds Available and Applied?

1. Nonprofit organizations managing restricted funds.
2. Financial administrators or accountants in organizations handling grants.
3. Board members overseeing fund utilization.
4. Regulatory bodies requiring financial accountability.

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 report that outlines the funds that are restricted for specific purposes, detailing both the available balances and how these funds have been utilized.

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

Organizations that manage restricted funds, such as non-profits, educational institutions, and governmental entities, are typically required to file this summary to ensure transparency and compliance with regulations.

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

To fill out the Summary, start by listing the restricted funds and their periods, then record the available balance for each fund, followed by documenting how the funds have been applied or expended against the specified purposes.

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

The purpose of this summary is to provide a clear and concise overview of restricted funds, ensuring accountability and proper stewardship of financial resources, while also keeping stakeholders informed.

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

The report should include the description of each restricted fund, the balance available, the amounts applied to various projects or expenditures, and a breakdown of how these funds align with the intended purposes.