Laserfiche WebLink
<br />i~ <br />L <br />TRUST AND AGENCY FUNDS <br />' The Trust and Agency Funds are used to account for assets held by the City in a trustee or agent capacity for <br />individuals, private organizations, other governmental units, or other funds. The City's Trust Funds are classified as <br />Expendable Trust Funds and are accounted for with the Agency Funds in essentially the same manner as <br />Governmental Funds. <br />TRUST FUNDS <br />Landfill Trust Fund <br />This fund is used to account for certain landfill related revenue, the expenditures the City may incur in relarion to <br />the landfill and any other expenditures for improvements providing a benefit to the entire City. <br />Escrow Fund <br />This fund is used to account for deposits held for platting deposits, professional fees, performance bonds, and other <br />miscellaneous deposits. <br />Park Improvement Trust Fund <br />This fund is used to account for all park dedication fees to be used for land acquisition and park development. <br />Self-Funding Insurance Fund <br />This fund is to account for insurance refunds, dividends and other miscellaneous insurance related revenues, and to <br />provide for self-insuring the deductible portions of the City's insurance policies. <br />Flexible Benefit Plan Fund <br />This fund is used to account for the City's flexible benefit plan which is classified as a "cafeteria plan" under Section <br />125 of the Internal Revenue Code. <br />Trott Brook Cemetery Peroetual Care Fund <br />This fund is used to account for perpetual care fees collected on the sale of cemetery plots in Trott Brook Cemetery. <br />AGENCY FUNDS <br />Deferred Compensation Plan Funds <br />The various Deferred Compensation Plan Funds are used to account for employee deferred compensation plans <br />created in accordance with Internal Revenue Code Section 457. <br />