353.321 - Categories of funds: Reporting; accounting; assignment by State Controller. - Nevada Statutes

353.321  Categories of funds: Reporting; accounting; assignment by State Controller.

      1.  The State Controller shall report each fund in one of the following categories for purposes of annual financial statements:

      (a) State General Fund;

      (b) Special revenue funds;

      (c) Capital projects funds;

      (d) Debt service funds;

      (e) Permanent funds;

      (f) Enterprise funds;

      (g) Internal service funds;

      (h) Pension trust funds;

      (i) Investment trust funds;

      (j) Private purpose trust funds; or

      (k) Agency funds.

      2.  All resources and financial transactions of the State Government must be accounted for within a fund. The State Controller shall assign each existing fund which is created by statute to the proper category necessary to present the annual financial statements in conformity with generally accepted accounting principles, notwithstanding any statutory designation to the contrary.

      (Added to NRS by 1977, 38; A 1981, 250; 1987, 624; 2001, 2752)