FAR: difference between special revenue fund and private purpose trust?

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  • November 24, 2014 at 2:16 pm #190347
    Anonymous
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    What are the differences between the two funds?

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  • November 24, 2014 at 9:31 pm #620036
    Anonymous
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    My understanding is that the private purpose trust fund is for funds held for external parties and is under the fidicuary funds(accural accounting), and special revenue fund is for funds that are collected and earmarked for a specific purpose and falls under the governmental funds (modified accrual accounting).

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