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TRUST AND AGENCY FUNDS <br />The Trust and Agency Funds are used to account for assets held by the City in a <br />trustee or agent capacity for individuals, private organizations, other govern- <br />mental 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 essen- <br />tially the same manner as Governmental Funds. <br />Landfill Trust Fund <br />This fund is used to account for certain landfill related revenue, the expen- <br />ditures the City may incur in relation to the landfill, and any other expen- <br />ditures 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, pro- <br />fessional fees, 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 <br />acquisition and park development. <br />Administrative Trust Fund <br />This fund is used to account for a surcharge levied against each special <br />assessment to finance the administrative costs that are generated in the General <br />Fund in maintaining the special assessments. <br />Equipment Revolving Fund <br />This fund is used to finance the replacement of City equipment. <br />Agency Funds <br />The Minnesota State, Kemper, and United Resources Deferred Compensation Funds <br />are used to account for employee deferred compensation plans created in accor- <br />dance with Internal Revenue Code Section 457. <br />