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New Fund Definitions
•Permanent fund
•Enterprise fund
•Internal service fund
•Investment trust fund
•Private purpose trust fund
A permanent fund is a fund in which the income from the fund can be used for the specified purpose; however, the principal of the fund (corpus) can not be expended.
An enterprise fund may be used to report an activity where a fee is charged to external users for goods or services.  An activity is required to be reported as an enterprise fund if any one of the following criteria is met:
(1) the activity is financed with debt secured solely by the revenue from that activity
(2) laws require the activity costs of providing services be recovered through fees and charge from the activity
(3) clearly established pricing polices demonstrate that the government is trying to recover its costs through user fees

Internal service funds may be used to report any activity that provides good or services to other funds, departments, or agencies of the primary government and its component units.  Internal service funds should be used only if the reporting government is the predominant participant in the activity.  Otherwise, the activity should be reported as an enterprise fund.
An investment trust fund is used to report external investment pools.
A private purpose trust fund is used to report trust arrangements under which principal and interest are used for specific beneficiaries.