Slush fund is a colloquial term which has come to mean an auxiliary monetary account or a reserve fund. However, the term has special meaning within a context of corrupt (including but not limited to) political dealings by governments, large corporations or other bodies and individuals. Slush funds can have particular elements of illegality, illegitimacy, or secrecy in regard to the use of this money and the means by which the funds were acquired.

Political dealings with slush funds tend to create suspicions of quid pro quo (buying political favors), and can be viewed on the surface as corrupt and subversive of the democratic process. For example, U.S. President Richard Nixon was involved in a scandal in 1952 that concerned what was called a "slush fund" of campaign contributions. He went on television with an accounting of the money, and was acquitted in popular opinion. Quid pro quo (Latin for something for something [1]) indicates a more-or-less equal exchange or substitution of goods or services. ... Subversion is an overturning or uprooting. ... The Democratic Process is a style of government where the citizens have the right to participate in the decisions of their government. ... Richard Milhous Nixon (January 9, 1913 – April 22, 1994) was the 37th President of the United States, serving from 1969 to 1974. ... 1952 (MCMLII) was a Leap year starting on Tuesday (link will take you to calendar). ... Campaign finance refers to the means by which money is raised for political election campaigns. ... Wikisource has original text related to this article: Checkers speech The Checkers speech was given by Richard Nixon on September 23, 1952, when he was the Republican candidate for the Vice Presidency. ...

The term "slush fund" is also used in accounting to refer to a general ledger account in which all manner of transactions can be posted to commingled funds and "loose" monies by debits and credits cancelling each other out. The general ledger, sometimes known as the nominal ledger, is the main accounting record of a business which uses double-entry bookkeeping. ... link title Debit is an accounting and bookkeeping term that comes from the Latin word debere which means to owe. ... Credit as a financial term, used in such terms as credit card, refers to the granting of a loan and the creation of debt. ...

Another meaning is a fund where one quarter's profits are hidden, in case there isn't enough profit during the next quarter for management to make their bonuses. Profit, from Latin meaning to make progress, is defined in two different ways. ... A fiscal year (or financial year or accounting reference date) is a 12-month period used for calculating annual (yearly) financial reports in businesses and other organizations. ... Look up Management in Wiktionary, the free dictionary. ... Executive compensation is how top executives of business corporations are paid. ...

Source of term

The term "slush fund" was originally a nautical term; the slush referred to the fat or grease that was obtained by boiling salted meat, the sale of which could then be used to provide the crew with special luxuries. The money obtained from this sale was placed into the so-called 'slush-fund'. ^[1] A list of nautical terms; some remain current, many date from the 17th-19th century. ... Slush is partly melted snow and ice. ... Fats consist of a wide group of compounds that are generally soluble in organic solvents and largely insoluble in water. ... Yellow grease is a term from the rendering industry. ... Salt-cured meat or salted meat, for example ham, bacon or kippered herring, is meat or fish preserved or cured by salt or brine. ...

References

1. ^ Adkins R: "Nelson's Trafalgar, The Battle That Changed the World.", page 37. Viking Penguin, 2005

Films that feature slush funds as a plot point

• The Rock (1996) - "The Red Sea Trading Company"

• Swordfish (film)