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City of Raleigh

Financial Section

Fiduciary Funds

The

Fiduciary Funds

are used to account for resources received and held by the City as the

trustee or for which the City acts as agent. These funds are expended or invested in accordance

with agreements or applicable prescribed procedures.

The City’s fiduciary funds include two pension trust funds, which account for activities of the

City’s general supplemental retirement plan and other post employment benefits.