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FIDUCIARY FUND FINANCIAL STATEMENTS <br />Agency Funds are custodial in nature (assets equal liabilities) and do not involve measurement of results <br />of operations. They are used to account for assets held in an agency capacity for others and therefore <br />cannot be used to support the City's programs. <br />Private Purpose Trust Funds are fiduciary fund types used to report all trust arrangements, other than <br />those properly reported in pension trust funds or investment trust funds, under which principal and <br />income benefit individuals, private organizations, or other governments. <br />OPEB Trust Fund is used to account for assets held in an irrevocable trust and related activities. This <br />trust is administered by Public Agency Retirement Services (PARS) for the purpose of funding <br />postemployment health care benefits provided by the City. <br />W <br />