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<br /> <br />AGENCY FUNDS <br />' Agoncy Funds are used to account for assets held by the City as an agent for individuals, private <br />organizations and/or other governmental units. The City of Elk River had the following Agency Fund <br />during the year: <br />' Developer Fee Escrow -This fund is used to account for the collection and distribution of funds relating to <br />private development projects. <br /> <br /> <br />C' <br />LJ <br /> <br /> <br /> <br /> <br /> <br />u <br /> <br /> <br /> <br />C' <br />I~ <br />