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Current Unrestricted Fund. The current unrestricted fund accounts are for resources that have no external restrictions and are available for current operations at the discretion of the governing board. The board, however, may place its own limitations on the fund unrestricted net assets.
In the same manner that industry appropriates retained earnings, the board of directors of a health and welfare organization may designate a portion of its unrestricted net assets for a special project.
To reflect such an action, a subset of unrestricted net assets, Unrestricted Net Assets—Designated, may be displayed, provided the total amount of Unrestricted Net Assets is shown.
