Trust funds may be established in two separate categories: Nonexpendable trust funds where the principal must be preserved intact, and expendable trust funds whose principal and income may be expended in the course of their designated operations. Trust funds are for the purpose of safeguarding funds which must be returned intact to depositors or spent for specific City purposes. The following trust funds are established:
A. Deposits Trust Fund. To account for a variety of deposits made with the City to guarantee City performance or some other purpose where the funds are normally returned to the depositor intact except to correct unsatisfactory performance of specified projects. This fund replaces the former Trust and Agency Fund established by resolution;
B. Contributions Trust Fund. To account for contributions from private individuals or nongovernment organizations to be used for specific City programs or projects. Contributions for specific projects or programs will be accounted for in subaccounts under departmental categories. Interest will be allocated whenever an excess of five thousand dollars is held in specific subaccount for an entire fiscal quarter. (Ord. 2548 § 1, 1985).