Governmental accounting systems should be organized and operated on a fund basis. A fund is defined as a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and residual equities or balances, and changes therein, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special rules, restrictions, or limitations.
Structure Arkansas Code
Chapter 4 - State Accounting and Budgetary Procedures
Subchapter 5 - Financial Management System
§ 19-4-501. General requirements
§ 19-4-502. Duties of Chief Fiscal Officer of the State generally
§ 19-4-503. Deposit of funds into State Treasury
§ 19-4-504. Requisites of system
§ 19-4-506. Accounting and reporting capabilities
§ 19-4-507. Fund accounting systems
§ 19-4-517. Interim and annual financial reports
§ 19-4-519. Appropriations code manual
§ 19-4-520. Classification of appropriations
§ 19-4-521. Personal services — Definition
§ 19-4-522. Maintenance and general operation
§ 19-4-523. Grants, assistance, and special aid
§ 19-4-524. Construction and permanent improvements
§ 19-4-525. Special appropriations
§ 19-4-527. Authority of Treasurer of State to use certain funding for operations