b'Trust Fund: In general, a fund for money donated or transferred to a municipality with specic instructions on its use. As custodian of trust funds,the treasurer invests and expends such funds as stipulated by trust agreements, as directed by the commissioners of trust funds or by thecommunity\'s legislative body. Both principal and interest may be used if the trust is established as an expendable trust. For nonexpendable trustfunds, only interest (not principal) may be expended as directed.Uncollected Funds: Recently deposited checks included in an accounts balance but drawn on other banks and not yet credited by the FederalReserve Bank or local clearinghouse to the bank cashing the checks. (These funds may not be loaned or used as part of the banks reserves andthey are not available for disbursement.)Undesignated Fund Balance: Monies in the various government funds as of the end of the scal year that are neither encumbered nor reserved,and are therefore available for expenditure once certied as part of free cash.Unreserved Fund Balance (Surplus Revenue Account): The amount by which cash, accounts receivable, and other assets exceed liabilitiesand restricted reserves. It is akin to a "stockholders equity" account on a corporate balance sheet. It is not, however, available for appropriation infull because a portion of the assets listed as "accounts receivable" may be taxes receivable and uncollected. (See Free Cash)Valuation (100 Percent): The legal requirement that a communitys assessed value on property must reect its market, or full and fair cash value.Beaufort County, SC | Budget Book 2024 Page 568'