EXPENDABLE TRUST FUND Definition

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EXPENDABLE TRUST FUND is a governmental fiduciary fund held in a trustee capacity by a governmental agency that accounts for assets and activities restricted to a specific purpose in accordance to formal intent. The principal of the fund can be expended towards only the activity specified, e.g., Unemployment Compensation Fund, Employee Benefits Fund, etc.

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CISA is Certified Information Systems Auditor.

NONCALLABLE is a bond exempt from call by the issuer for a stated period of time.

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