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I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />! <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />FIDUCIARY FUNDS <br /> <br />Trust Funds - Trust Funds are used to account for assets <br />held by the City in a trustee capacity for individuals, <br />private organizations, other governments, and/or other <br />funds. The City's Trust Funds are classified as Expendable <br />Trust Funds and are accounted for in essentially the same <br />manner as governmental funds. <br /> <br />B. Measurement Focus <br /> <br />The accounting and reporting treatment applied to the fixed <br />assets and long-term liabil-ities associated with a fund are <br />determined by its measurement focus. Governmental funds <br />and Expendable Trust Funds are accounted for on a spending <br />or "financial flow" measurement focus. This means that <br />only current assets and current liabilities are generally <br />included on their balance sheets. Tbeir reported fund <br />balance is considered a measure of "available spendable <br /> I! <br />resources. Governmental fund operating statements present <br />increases (revenues and other financing sources) and <br />decreases (expenditures and other financing uses) in net <br />current assets. Accordingly, they are said to present a <br />summary of sources and uses of "available spendable <br />resources" during a period. <br /> <br />Fixed assets used in ~overnmental fund type operations <br />(general fixed assetsJ are accounted for in the General <br />Fixed Assets Account Group. Public domain <br />("infrastructure") general fixed assets consisting of roads, <br />bridges, curbs and gutters, streets and sidewalks, drainage <br />systems, and lighting systems, are excluded from general <br />fixed assets as such items are immovable and of value only <br />to the City. No depreciation has been provided on general <br />fixed assets. <br /> <br />Fixed assets are recorded at historical cost. Donated <br />fixed assets are valued at tbe fair market value as of the <br />date received. <br /> <br />Long-term liabilities expected to.be financed from govern- <br />mental funds are accounted for in the General Long-Term Debt <br />Account Group, not in the gOvernmental funds. The single <br />exception to this general rule is for special assessment <br />bonds, which are accounted for in gpecial Assessment Funds. <br /> <br /> <br />