What are Fiduciary Funds?

Fiduciary Funds are used to account for resources held by the government but that are intended to benefit parties other than the government itself. There are two types of fiduciary funds.
• Trust Funds — are used to account for assets that the government holds as a trustee for the benefit of parties other than the government itself.
• Agency Funds —are generally used to account for assets that a government temporarily holds as an agent for other parties.