Trust and Agency Funds are maintained to account for assets held by the State in a trustee Capacity or as an agent for individuals, private organizations or other funds. These Fiduciary Funds include expendable trust, nonexpendable trust, pension trust, and agency funds. Significant Trust and Agency Funds of the State are described as follows:
Trust Funds
Employment Security: to account for the collection of unemployment insurance premiums from employers and the payment of unemployment benefits to eligible claimants.
Second Injury and Compensation Assurance:
an extension of the Worker's Compensation Act, the fund is currently used
to pay claimants whose injuries are made more severe because of a pre-existing
condition, and in cases where an injured worker receiving
worker's compensation subsequently undergoes an incapacitating
relapse.
Soldiers, Sailors, and Marines:
to account for the principal and interest earned on investments of this
fund. Interest earned has been earmarked by the General Assembly
for the benefit of resident veterans to provide such things as food,
wearing apparel, medical or surgical aid, care and relief or funeral
benefits.
Pension:
See note 9 and note 10 for a description of the Pension Funds.
Agency Funds
Investment Pool/Non-State Portion:
to account for the portion of Short Term Investment Fund (STIF) that
is made up of non-state monies. STIF is made up of excess cash
balances which can be added or withdrawn on a daily basis. The
fund's investments consist primarily of short-term investments.
Insurance Companies Securities: to account for securities that are deposited with the Treasurer to be held for policyholders of insurance companies as a prerequisite to such companies transacting business in the State.
Deferred Compensation:
to account for the investments accumulated in the State's IRC Section
457 deferred compensation plan.
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Balance Sheet - Fiduciary Funds
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Balance Sheet - Pension Trust Funds
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Balance Sheet - Agency Funds
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Statement...Expendable Trust Funds
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Statement....Nonexpendable and Pension Trust Funds
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Statement....Nonexpendable Trust Funds
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Statement....All Agency Funds
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