Expenditures-If accounts are kept on the accrual basis, this includes
 total charges incurred, whether paid or unpaid, for current ex-
 pense, capital outlay, and debt service. If accounts are kept on
 the cash basis, this includes only actual disbursements for these
 purposes.
Expenditures Distribution Ledger-As used in this guide, a ledger which
 provides a distribution of expenditures among the regular expendi-
 ture accounts and the clearing expenditure accounts of a given
 fund.
Expense, Travel-Expenses incurred by students and sponsors of a school
 activity in connection with travel related to the activity, or other
 than those expenses directly chargeable to student transportation.
Fidelity Bond-A bond guaranteeing the county board of public in-
 struction against losses resulting from the dishonest actions of
 the treasurer, or other employees of the county board of public
 instruction.
Financial Statement-As used in this guide, a formal written presen-
 tation which sets forth information concerning the financial con-
 dition of a school activity fund.
Fiscal Period-Any period at the end of which a school determines its
 financial condition and the results of its operations, and closes its
 books.
Fund-A sum of money or other resources set aside for specific activi-
 ties of a school, usually containing several accounts. The fund ac-
 counts constitute a complete entity, and all of the financial transac-
 tions for the particular fund are recorded in them.
Fund, Athletic-A sum of money used to finance the activities which
 are directly related to the interscholastic athletic program of a
 school and such intramural athletic activities as may be financed
 from school activity money.
Fund, Instructional Fees and Rentals-A sum of money used to finance
 the activities primarily of a classroom nature, such as instructional
 aids and laboratory fees.
Fund, Merchandise-A sum of money used to finance the merchandising
 activities of a school which are directed primarily toward meeting
 the merchandising needs of students, teachers, and the general
 public. Included are the merchandising activities of school-spon-
 sored stores, shops, canteens, classes, clubs, etc.
Fund, Miscellaneous-A sum of money used to finance student-related
 activities not accounted for in the other funds. Sometimes this is
 referred to as a General Fund.
Fund, Publications-A sum of money used to finance the preparation,
 production, and distribution of student-produced publications such
 as the school paper, school yearbook, and school magazine.
Fund, Student Organization-Money used to finance the activities of
 clubs, classes, and similar student organizations which are under
 the supervision of the school.
Fund Accounts-All accounts necessary to set forth the financial opera-
 tions and financial condition of a fund.
General Ledger-A book, file, or other device in which accounts are kept
 to the degree of detail necessary; in it are summarized the financial
 transactions of the school. General ledger accounts may be kept
 for any group of items of receipts or expenditures on which an
 administrative officer wishes to maintain a close check.

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