1996 CAFR - Laserfiche WebLink

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~--, III FINANCIAL SECTION (continued) Trust and A,gencv Funds (continued) 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, 1996, was $3,141,651, compared to $3,069,310 on December 31, 1995. This represents an increase of $72,341. I~ u' C 0 Escrow Fund: The Escrow 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, 1996, the City held $109,644 in escrow deposits compared to $92,705 at December 31, 1995. 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, 1996, the fund balance was $532,529, an increase of $79,255 over the December 31, 1995 balance of $453,274. 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, 1996, was $190,225, which represents an increase of $25,657 over 1995. Flexible Benefit Plan Fund: The Flexible Benefit Plan Fund is used to account for the City's flexible benefit plan which is classified as a "cafeteria plan" under Section 125 of the Internal Revenue Code. During 1996, $58,832 was the total pass through of employee contributions toward personal benefit program expenditures, compared to $57,915 for 1995. ' gig