- The ending fund balance is the fund balance as of the specified date. Treatment of the current year's net surplus/deficit is explained in What is a mock close? (BB22412)
The beginning fund balance includes the fund balance accounts at the start of that fiscal year, plus any adjustments (journal entries) made directly to the fund balance account in the fiscal year up to the date specified.
Note: Adjustments are included in the beginning balance on the Balance Sheet and Statement of Financial Position.