What is a fund and how is it used

•What is a fund and how is it used? 

 •How does the balance of a fund represent the available spendable resources of the entity? 

 •Why are there specialized funds in the different governmental units (e.g., debt service funds, special revenue funds, capital project funds)? ◦Describe 3 of these funds in detail, and give examples of how the funds are used.