May 1, 2024
4 minute read
Fiduciary funds are financial resources held by a government or nonprofit organization, or other entities, in a trustee capacity for specific purposes, such as providing pensions or maintaining a public park. Fiduciary funds are used to account for the receipt and use of money or assets held in trust by one party for the benefit of another. They are typically managed by a board of trustees or other governing body that is responsible for ensuring that the funds are used in accordance with the terms of the trust.
What is the Purpose of Fiduciary Funds?
The primary purpose of fiduciary funds is to ensure that the resources held in trust are used for the intended purposes and in accordance with the terms of the trust agreement. Fiduciary funds are separate from the general fund of the government or organization and are not available for general use. This separation ensures that the funds are protected from being used for other purposes and that they are available for the intended beneficiaries.
Fiduciary funds are commonly used for a variety of purposes, including:
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Find a path to becoming a Fiduciary Funds. Learn more at:
OpenCourser.com/topic/70v65j/fiduciary
Reading list
We've selected four books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Fiduciary Funds.
Provides a guide to the management of fiduciary funds in the private sector. It is written by the American Bankers Association, and valuable resource for anyone who works with fiduciary funds in a private setting.
Provides a practical guide to fiduciary management for trustees and beneficiaries. It is written by two leading scholars in the field, and valuable resource for anyone who wants to learn more about the practical aspects of fiduciary management.
Provides an overview of fiduciary responsibility in public finance. It is written by the International Monetary Fund, and valuable resource for anyone who wants to learn more about the role of fiduciary responsibility in the public sector.
Provides an overview of fiduciary responsibility in the nonprofit sector. It is written by the National Center for Nonprofit Boards, and valuable resource for anyone who serves on the board of a nonprofit organization.
For more information about how these books relate to this course, visit:
OpenCourser.com/topic/70v65j/fiduciary
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