The Vietnam Education Foundation 2011 Annual Report

Annual Report 2011 Page 77
NOTE 6 – EARMARKED FUNDS
Vietnam Education Foundation
Notes to Financial Statements
September 30, 2011 and 2010
Earmarked funds are funds that are financed by specifically identified revenues, often supplemented by other
financing sources, which remain available over time. These specifically identified revenues and other financing
sources are required by statute to be used for designated activities or purposes, and must be accounted for separately
from the federal government’s general revenues, per Statement of Federal Financial Accounting Standard (SFFAS)
27, Identifying and Reporting Earmarked Funds.
VEF’s source of earmarked funds are the $5 million per year from the Vietnam Debt Repayment Fund which is paid
by the Socialist Republic of Vietnam and would be considered an inflow of revenue to the government. VEF’s
imputed financing are not considered earmarks.
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