b'Fund StructureThere are three categories of funds within government: governmental funds, proprietary funds and duciary funds. Governmental funds are wheremost governmental functions such as general administration, judicial, public safety, public works, health and welfare and culture and recreation arenanced. Proprietary funds are those where business-type activities are budgeted from revenues for user fees and charges rather than generalrevenues such as taxes, nes, licenses or permits. Fiduciary funds are used when government is entrusted with resources for the benet or privateindividuals, organizations or other governments.Within these three fund categories are various fund types, each having its own unique purpose. Under governmental funds, there are the Generalfund, Special Revenue funds, Capital Projects funds, Debt Service funds and Permanent funds. Under proprietary funds, there are Enterprise fundsand Internal Service funds. Under duciary funds, there are Agency funds, Investment Trust funds, Pension Trust funds and Private Purpose Trustfunds. All County funds budgeted are on an annual basis and subject to appropriation by County Council, even though some projects may spanmultiple scal years. To the extent that the project revenues and expenditures can be assigned to a scal year, the budget amounts and documentsreect this. The exceptions are duciary funds held primarily by Constitutional Oces.Further, a fund may be reported as a major fund or nonmajor fund, depending on whether the fund meets specic criteria. The reason for thisdistinction is to ensure that a governments most important funds are separately identied. One fund that is always reported as a major fund is theGeneral fund. Other funds meeting the following criteria should also be separately identied as a major fund:1. Total assets and deferred outows of resources, total liabilities and deferred inows of resources, revenues or expenditures/expenses of theindividual fund are at least 10% of the corresponding totals of assets, liabilities, revenues or expenditures for all funds of that category or type, and2. Total assets and deferred outows of resources, total liabilities and deferred inows of resources, revenues or expenditures/expenses of theindividual fund are at least 5% of the corresponding total for all governmental and proprietary funds combined.However, even if a fund does not meet the specic criteria above, a fund may be permitted to be reported as major if governing ocials believe thefund is particularly important. BeaufortCounty utilizes most of these fund types. The following section provides a broad overview of how the Countyutilizes the fund types.Beaufort County, SC | Budget Book 2024 Page 19'