Name the type of fund established for long-term capital projects.

The type of fund established specifically for long-term capital projects is known as Capital Projects Funds. These funds are a part of the governmental funds in accounting, and they are designed to account for financial resources that are restricted for the acquisition or construction of major capital facilities. This includes projects such as buildings, infrastructure, and other significant expenditures that require a longer timeframe for completion and utilization.

Capital Projects Funds allow for the tracking of revenues and expenditures specifically related to these large projects, ensuring that the resources are allocated properly and that the funding is used as intended. They typically receive funding from various sources, such as bond proceeds, grants, and transfers from other funds, which are then expended on capital-related activities. Utilizing these funds helps in maintaining clear accountability and transparency regarding the use of public resources for significant community projects.

The other types of funds listed serve different purposes; for instance, permanently restricted funds are meant for specific long-term contributions and cannot be spent in their entirety, while internal service funds are utilized for providing goods and services to other entities within the same government. Special revenue funds are set up to account for specific revenue sources that are restricted for particular purposes, quite distinct from the long-term capital focus of Capital Projects Funds.