Agency Funds

Anne Swearingin

Good morning,


We are curious as to how other community foundations are recording transactions for agency funds. Technically these funds are considered a liability to our organization. All income and expense items are treated as a debit or credit to the agency fund liability account.


Question is if your organization is a community foundation are agency funds treated as a liability or as a normal temporarily restricted fund with income and expense accounts?


Thank you,

Anne Swearingin