Louisiana Administrative Code
Title 28 - EDUCATION
Part XLI - Bulletin 1929-Louisiana Accounting and Uniform Governmental Handbook
Chapter 5 - Fund Classifications
Section XLI-505 - Proprietary Funds
Current through Register Vol. 50, No. 3, March 20, 2024
A. A Proprietary Fund is used to account for activities that are similar to activities that may be performed by a commercial enterprise. The measurement focus is on the determination of net income, financial position, and changes in financial position and therefore the basis of accounting is full accrual. This measurement focus and basis of accounting, similar to that found in the private sector, is based on the flow of economic resources; it requires the reporting of all assets and liabilities associated with a particular activity, including capital assets and long-term assets and liabilities. Within the proprietary fund category are two fund types.
AUTHORITY NOTE: Promulgated in accordance with R.S. 17:6(A)(10).