Many non-profits, in particular a

[fiscal sponsor](http://en.wikipedia.org/wiki/Fiscal_sponsorship), use some

form of [fund accounting](http://en.wikipedia.org/wiki/Fund_accounting) to

handle accounting tracking of income and expenses for specific projects, or

funds.

In fiscal sponsors, these funds are typically classified by auditors and/or

accountants as "temporarily restricted assets", and spending of the assets

are governed by a fiscal sponsorship agreement

([[see examples below|FundAccounting#Other_Resources]]).

## Fund Report

The "fund report" is a shorthand name for a Temporarily Restricted Net Assets

Report.  This report shows the temporarily restricted income, expenses and

assets.  (An example of such a report can be found on page 6 of

[Conservancy's FY 2011 Audited Financial statement](http://sfconservancy.org/docs/conservancy_independent-audit_fy-2011.pdf).)

## Subset of the Books

Ultimately, any account system that truly supports fiscal sponsorship must

provide all functions, reports, editing, interaction and viewing to allow a

user to view a "subset" of the books that are specific to any given fund.  In

essence, the books of a fiscal sponsoring org are proper superset of all the

books of its projects.

Thus, an individual project contributor wants to:

- View the books for that project as an independent set, unencumbered by

  transactions for other projects.