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A '''revolving fund''' is a fund or account that funds an organization's continuing operations without any fiscal year limitation, because the organization replenishes the fund by adding money to replace the money that was spent from the account. Revolving funds have been used to support both government and non-profit operations.
A '''revolving fund''' is a fund or account that funds an organization's continuing operations without any [[fiscal year]] limitation, because the organization replenishes the fund by adding money to replace the money that was spent from the account. Revolving funds have been used to support both government and non-profit operations.
In the case or revolving funds for a government project whose budget goes through annual parliamentary or other legislative appropriations that relate to a fiscal year, the unspent balance may lapse after the close of the fiscal year. In many cases, the lapsed fund balance is restored the next year by an reappropriation of that balance in next year's appropriation.
In the case or revolving funds for a government project whose budget goes through annual parliamentary or other legislative appropriations that relate to a fiscal year, the unspent balance may lapse after the close of the fiscal year. In many cases, the lapsed fund balance is restored the next year by an reappropriation of that balance in next year's appropriation.