a fund or account whose income remains available to finance its continuing operations without any fiscal year limitation
a fund that is replenished or augmented as existing funds are spent
A revolving fund may be set up for a specific purpose, and money collected for that purpose is used in turn to support it. For example, monies collected for school lunches directly offset the cost of the program. Revolving funds are administered by their sponsoring departments and are not restricted by town meeting.
Revolving funds are those employed to finance industrial, commercial, and service activities of the State, the expenses of which are to be met by operating income; or to finance supply inventories for State institutions. Three distinct types of enterprises are financed through revolving funds; the most important from the standpoint of volume of transactions consist with those of a public service character. These serve the general public, and their income is derived principally from sales of products or services. The Liquor Purchase Revolving Fund and former Mackinac Ferry Revolving Fund (now terminated) are examples of this type. Another class consists of those which serve State agencies. The Motor Transport Revolving Fund and the Paper and Stationery Revolving Fund are examples of this type. The third is the Inventory Revolving Fund.
Fund established by a public or nonprofit organization to purchase land or buildings or make grants or loans to facilitate the preservation of historic resources.
a fund used to finance activities, such as the acquisition of property and its subsequent sale with a conservation covenant attached to its title. This approach allows capital to be reused for the same purpose.
A scheme operated by conservation organisations who purchase significant native areas and then on-sell the land with a condition of a Conservation Covenant. Money from each sale is subsequently returned to the Revolving Fund for further conservation projects.
A subsidiary payroll system for payments made outside the normal scope of the HEPPS payroll system which are required due to a more urgent payment schedule. Dollar balance postings are made through the regular HEPPS payroll system for W-2 purposes. Accounts Payable reimburses the subsidiary funds accounts for payments made.: Staff Assistant. Matriculating student, either graduate or undergraduate, whose primary responsibilities are related to public service and/or administrative assistance.
A fund that provides interim financing for conservation projects when time is a critical factor. A land trust can borrow from the fund to acquire a property or restriction on a property; however, the loan must be repaid, often with interest, once a fundraising effort has been conducted.
A type of Custodial Fund that involves the establishment of a bank account in the name of an individual or department. This account is solely operated by the individual or department, but is responsible for operating the account according to University Policy.
