1993 CAFR - Laserfiche WebLink

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7111VAAVCUIL, SKE117MN (Continued) Trust and Agency Funds (continued): Expendable Trust Funds - Expendable trust funds are funds whose original principal and income may be expended in the course of designated operations. Landfill Trust Fund: The Landfill Trust Fund is maintained by the City to account for certain landfill related revenues to be used for expenditures the City may incur relating to the landfill or for improvements providing a benefit to the entire City, such as park development. The fund balance on December 31, 1993, was $3,106,372, compared to $2,659,395 on December 31, 1992. This represents an increase of $446,977. Escrow Trust Fund: The Escrow Trust Fund is maintained by the City to account for deposits held for specific purposes from developers, contractors, builders, residents, or the like, for platting, professional fees, performance bonds, and miscellaneous deposits. On December 31, 1993, the City held $195,281 in escrow deposits compared to $208,272 at December 31, 1992. Park Improvement Trust Fund: The Park Improvement Trust Fund was established to account for all cash and park dedication fees and miscellaneous revenues to be used for future land acquisitions and park capital improvements. On December 31, 1993, the fund balance was $222,232, an increase of $73,202 over the December 31, 1992 balance of $149,030. Equipment Revolving Fund: The Equipment Revolving Fund is used to account for resources to finance the replacement of City equipment, vehicles, and /or buildings and facilities. The fund balance was at $1,913,488 on December 31, 1993, compared to $1,439,866 for 1992. Self - Funding Insurance Fund: The Self - Funding Insurance Fund was established to account for insurance refunds, dividends and other miscellaneous insurance related revenues, and to provide for self - funding the deductible portion of the City's insurance premium. The fund balance on December 31, 1993 was $116,606, which represents an increase of $41,938 over 1992. xiv