What is the term for expenses in Fiduciary Funds?

In the context of Fiduciary Funds, the term that is used to refer to expenses is "deductions." Fiduciary Funds are used to account for assets held by a government in a trustee or agent capacity, and the transactions within these funds typically involve managing and distributing resources for the benefit of others.

Deductions in Fiduciary Funds represent the outflows of resources that are applicable to the trust or agency's operations. These may include distributions to beneficiaries, payments to third parties, or administrative costs associated with managing the fund. This terminology distinguishes the nature of expenditures in these specific funds from those in governmental or proprietary funds, which may use terms such as expenses or outlays. Understanding this terminology is crucial for accurate accounting and reporting within fiduciary activities.