Enterprise Systems

FIRMS Data Element Dictionary: Legal Fund Type

Element Name: Legal_Fund_Type_Code
Element Length: 1
Element Type: Char
Format: X
Data Element


Legal Fund Type Code is established by the Department of Finance to classify State Fund Groups/Category/Class based on GAAP/GASB classification. In governmental finance and accounting, funds are classified by type. The State's fund classification structure was changed to closely conform with Generally Accepted Accounting Principles (GAAP). The new structure and the uniform GAAP classification assigned to each fund is located in the Uniform Codes Manual (UCM) and the Manual of Funds of the State of California issued by the Department of Finance.

Valid Values:

G = Governmental: The governmental funds are used primarily to account for services provided to the general public without charging directly for those services.

P = Proprietary: The proprietary fund types present financial data on state activities that are similar to those found in the private sector. Users are charged for the goods or services provided.

F = Fiduciary: The fiduciary fund types are used to account for assets held by the State either as a trustee or as an agent.

For more information refer to State Administrative section 7400.