Page 54 - Moreno Valley 2025 Annual Financial Report
P. 54
City of Moreno Valley, California
FIDUCIARY FUNDS
FIDUCIARY FUNDS:
A fiduciary fund is an account with funds from assets that the city holds as a trustee and that it cannot use
to fund its own programs. The city reports Custodial Funds and Private-purpose Funds. Custodial funds
are used to report resources held by the agency in a purely custodial capacity. Custodial funds typically
involve only the receipt, temporary investment and remittance of fiduciary resources to individuals, private
organizations or other governments. Private-purpose trust funds report all other trust arrangements under
which the principal and income benefits individuals, private organizations or other governments.
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