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1 <br />I <br /> <br />The Trust and Agency Funds are used to account for assets held by the City in a trustee or <br />agent capacity for individuals, private organizations, other governmental units, or other <br />funds. The City's Trust Funds are classified as Expendable Trust Funds and are accounted <br />for with the Agency Funds in essentially the same manner as Governmental Funds. <br />Landfill Trust Fund <br />This fund is used to account for certain landfill related revenue, the expenditures the <br />City may incur in relation to the landfill and any other expenditures for improvements <br />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, <br />performance bonds, and other 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 <br />park development. <br />Administrative Trust Fund <br />This fund is used to account for a surcharge levied against each special assessment to <br />finance the administrative costs that are generated in the General Fund in maintaining <br />the special assessments. <br />~uioment Revolving Fund <br />This fund is used to finance the replacement of City equipment. <br />Agency Funds <br />The Minnesota State, Kemper and Metropolitan Life Deferred Compensation Funds are <br />used to account for employee deferred compensation plans created in accordance with <br />Internal Revenue Code Section 457. <br />