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Self. Funding Insurance Fund. <br />The Self-Funding Insurance Fund shall be used to account for insurance refunds, <br />dividends and other miscellaneous insurance related revenues, and to provide for <br />self-funding the deductible portion of the City's insurance policies. <br /> <br />This fund is eligible for inter-fund loans. <br /> <br />Flexible Benefit Plan Fund. <br />The Flexible Benefit Plan Fund shall be used to account for the City's flexible <br />benefit plan which is classified as a "cafeteria plan" under Section 125 of the <br />Internal Revenue Code. <br /> <br />This fund is not eligible for inter-fund loans. <br /> <br />Nonexpendable Trust Funds. Non-expendable Trust Funds are funds whose <br />pr/ncipal must be preserved intact. These funds are intended to account for the <br />principal portion of an endowment provided to the City by private donors with the <br />stipulation that the principle be preserved intact. <br /> <br />Pension Trust Funds. <br />The Pension Trust Funds shall be used to ac~,cx~unt for City operated public <br />employee retirement systems. <br /> <br />Agency Funds. <br />Agency Funds shall be custodial funds (assets equal liabilities) and do not involve <br />measurement of operations. Agency Funds are merely clearing accounts and have <br />no fund equity. <br /> <br />Subdivision 4. Account Groups <br /> <br />General Fixed Asset Account Group. <br />The General Fixed Asset Account Group shall be used to account for tangible assets <br />of significant value which have a service life in excess of one year and are not <br />accounted for in a proprietary fund type. <br /> <br />General Long. Term Debt Account Group· <br />The General Long-Term Debt Account Group shall be used to account for long- <br />term debt which is to be financed by revenue of Governmental Fund types. <br /> <br />Subdivision 5. Inter-Fund Loans, Inter-fund loans are transfers from one fund to <br />another with the intentions of repayment of principal or principal and interest. All inter- <br />fund loans shall be approved by City Council resolution. Such resolution shall state the <br />amount of the inter-fund loans, the interest rate, where applicable, and the repayment <br />period. <br /> <br />Subdivision 6. Fund Abolishment. No Fund created by this chapter may be <br />abolished except by properly enacted Ordinance or as detailed in Chapter 7 of the City <br />Charter. <br /> <br />Page 9 of i0 <br /> <br /> <br />