Public  fund  receipts,  on  the  other  hand,  convey  ownership

as  well  as  possession.  They  may  be  defined  as  comprehending
all  amounts  of  money  placed  at  the  disposal  of  a  government
for  its  own  use  or  benefit,  and,  in  addition,  all  items  other
than  cash  that  tend,  either  directly  or  indirectly,  to  increase
the  surplus  of  the  government.  They  are  derived  from  very
numerous  and  varied  sources,  and  affect  the  accounts  of  the
government  in  seven  different  ways,  as  follows :

1.  Certain  receipts,  such  as  the  sale  of  property  or  the
collection  of  an  account  receivable,  increase  one  asset  and
reduce  another  by  the  same  amount,  the  total  value  of  all  the
assets  thus  remaining  unchanged.
2.  Receipts,  such  as  the  proceeds  of  bond  sales,  often  in-
crease the  assets  and  liabilities  by  the  same  amount,  thereby
not  affecting  the  surplus.
3.  Receipts  may  increase  assets  and  reserves  by  the  same
amount.  An  example  of  this  is  where  the  amount  received
on  account  of  any  premium  on  bonds  sold  is  set  up  as  a
reserve  to  be  amortized  over  the  life  of  the  bonds.
4.  Certain  receipts  (as  enumerated  in  Chapter  X)  directly
increase  the  surplus.
5.  Refunds  and  rebates  of  expenses  reduce  the  balances  of
expense  accounts.
6.  Assessments  and  reimbursements  increase  assets  without
increasing  liabilities  or  reserves,  thereby  indirectly  increasing
surplus.  They  differ  from  revenues  in  that  they  represent
the  recovery  of  a  particular  group  of  expenditures  which  in-
directly decrease  surplus  by  the  same  amount.
