Although not inclusive of all funds in the State, following are the more common funds you should be aware of for an agency your size: * The General Fund is used to account for all General Taxes and other Revenues that are not dedicated to be used for another purpose. * Special Revenue Funds are those that receive financing from a specific source that is to be used for a specific purpose. An example of a special revenue fund would be a 90/10 board. “90/10” is a term that is usually applied to a regulatory board such as the Board of Accountancy, Board of Medical Examiners, etc. The term “90/10” is used because the Fund is allowed to keep 90% of its revenue to carry out its regulatory responsibilities and the remaining 10% is deposited in the General Fund. “90/10 Funds” are considered to be “revolving” in nature because its expenses are financed 100% by its revenues. * Revolving Funds (imprest accounts) are used to account for resources in which a State Agency provides a service to another State Agency (e.g., Motor Pool) or to the general public (e.g., Arizona Highways Magazine). A revolving fund is a fund in which the amount of the cash receipts is normally equal to the amount of cash disbursements. In Arizona, there are five types of revolving funds: 1) internal service funds; 2) enterprise funds; 3) 90/10 funds; 4) statutorily mandated funds such as Public Assistance and Administration Revolving Fund; and 5) imprest funds. Specific accounting, reporting and reversion requirements of all types of revolving funds are established by statute. Please contact ADOA-GAO for more information. For the purpose of this document, we will focus on the application of the imprest funds.