revolving fund
American Heritage Dictionary:
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revolving fund
n.
A fund established for a certain purpose, such as making loans, with the stipulation that repayments to the fund may be used anew for the same purpose.
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revolving fund
Barron's Accounting Dictionary:
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revolving fund
Account that is repeatedly expended, replenished, and then expended again. An imprest petty-cash fund is an example.
Vouchers are paid daily and the petty-cash fund is usually replenished at the end of each month.
Vouchers are paid daily and the petty-cash fund is usually replenished at the end of each month.
| Review, Reversing Entry, Revenue Ruling | |
| Right, Right of Return, Right-Hand Side |
US Defense Department Military Dictionary:
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revolving fund
(DOD) A fund established to finance a cycle of operations to which reimbursements and collections are returned for reuse in a manner such as will maintain the principal of the fund, e.g., working capital funds, industrial funds, and loan funds.
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Revolving fund
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A revolving fund is a fund or account whose income remains available to finance its continuing operations without any fiscal year limitation. In case the Fund concerns a Government funded project whose budget goes through annual parliamentary appropriations that relate to a fiscal year then the unutilized balance shall lapse after the close of financial year. However it shall stand restored next year provided the agency concerned includes the amount in next year's appropriation.
Within federal and state governments, law establishes revolving funds. Revolving funds, established for the purpose of carrying out specific activities, institute a basis under which financing for the cost of goods or services furnished to or by a government agency originate. Revolving funds are to be replenished through charges made for such goods or services.
Revolving funds are useful funding sources for historic preservation projects. A non-profit preservation organization would establish a fund to receive donations and other capital which is used by the organization to purchase endangered property which is then resold with easements. Some organizations also make loans for building renovations. The Providence Revolving Fund is one of the largest local revolving funds in the USA.
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Copyrights:
American Heritage Dictionary
The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved.
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Barron's Accounting Dictionary
Dictionary of Accounting Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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US Defense Department Military Dictionary
US Department of Defense Dictionary of Military and Associated Words, 2003.
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