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<br />~_ <br />I' TRUST AND ACEN ~' F TNDQ <br />-The Trust and Agency Funds are used to account for assets held by the <br />City in a trustee or agent capacity for individuals, private <br />organizations, other governmental units, or other funds. The City's <br />' Trust Funds are classified as Expendable Trust Funds and are accounted <br />for with the Agency Funds in essentially the same manner as Governmental <br />Funds. <br />1 Landf~ i ~ T > >nd <br />This fund is used to account for certain landfill related revenue, the <br />' expenditures the City may incur in relation to the landfill and any <br />other expenditures for improvements providing a benefit to the entire <br />City. <br />Escrow Fund <br />This fund is used to account for deposits held for platting deposits, <br />professional fees, performance bonds, and other miscellaneous deposits. <br />Park Imorov mant T > >nd <br />This fund is used to account for all park dedication fees to be used for <br />land acquisition and park development. <br />Admin~strat~ve Trust Fund <br />This fund i:> used to account for a surcharge levied against each special <br />assessment t:o finance the administrative costs that are generated in the <br />General Fund in maintaining the special assessments. <br />~g~pment Revolving Fund <br />This fund is used to finance the replacement of City equipment. <br />F; re Department Eq~.pm nt R volv'ng Fund <br />This fund is used to finance the replacement of the volunteer fire <br />department's equipment. <br />Agency Fund <br />The Minnesota State, Kemper and Metropolitan Life Deferred Compensation <br />Funds are used to account for employee deferred compensation plans <br />created in accordance with Internal Revenue Code Section 457. <br />