1992 CAFR - Laserfiche WebLink

Home

TRUST AND AGENCY FUNDS, The Trust and Agency Funds are used to account for assets held by the City in a trustee or agent capacity for individuals, private organizations, other governmental units, or other funds. The City's Trust Funds are classified as Expendable Trust Funds and are accounted for with the Agency Funds in essentially the same manner as Governmental Funds. 2 , 4 Landfill Trust Fund This fund is used to account for certain landfill related revenue, the expenditures the City may incur in relation to the landfill and any other expenditures for improvements providing a benefit to the entire City. Escrow Fund This fund is used to account for deposits held for platting deposits, professional fees, performance bonds, and other miscellaneous deposits. Park Improvement Trust Fund This fund is used to account for all park dedication fees to be used for land acquisition and park development. Administrative Trust Fund This fund is used to account for a surcharge levied against each special assessment to finance the administrative costs that are generated in the General Fund in maintaining the special assessments. Equipment Revolving Fund This fund is used to finance the replacement of City equipment. "-• !l 9.11 11! • • This fund is used to finance the replacement of the volunteer fire department's equipment. .• - This fund is to account for insurance refunds, dividends and other miscellaneous insurance related revenues, and to provide for self- insuring the deductible portions of the City's insurance policies. Flexible Benefit Plan Fund This 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. Agency Funds The Minnesota State, Kemper, Metropolitan Life Deferred Compensation and Great West Funds are used to account for employee deferred compensation plans created in accordance with Internal Revenue Code Section 457.