Which of the following is NOT a budgetary account in a governmental fund?

In the context of governmental accounting, it is essential to differentiate between budgetary accounts and operating accounts. Budgetary accounts are used to track the planned revenues and expenditures in accordance with the budget that has been established for a fiscal period.

Estimated Revenues, Appropriations, and Encumbrances are all examples of budgetary accounts. Estimated Revenues reflect the anticipated income for the period, while Appropriations represent the authorized spending limit set by the governing body. Encumbrances are commitments related to unperformed contracts for goods or services, which help in managing budget allocations.

Expenditures, on the other hand, are not classified as budgetary accounts because they represent actual outflows of resources when goods or services are received, as opposed to planned outflows. Expenditures occur after the budget has been approved and spending has taken place, making them a part of the operating accounts rather than the budgetary accounts. This distinction is crucial for understanding how governmental funds manage and report their financial activities.