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FIDUCIARY FUND FINANCIAL STATEMENTS <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 />Custodial Funds are custodial in nature. They are used to account for assets held in an agency capacity <br />for others and therefore cannot be used to support the City's programs. Custodial funds use the economic <br />resources measure focus. <br />Cherrywood – Accounts for monies accumulated for payments of special assessment bonds <br />which are financed by assessments placed on the Alameda County tax roll for the Cherrywood <br />housing development. <br />39