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Internal Service Funds – Internal Service Funds are used to track revenue and expense shifts between <br />departments. These include the following funds: Insurance, Fleet Management, Compensated <br />Absences, and Information Technology. <br /> <br />• Insurance - The Insurance Fund was created to account for total insurance revenue and <br />expenses between all departments. <br /> <br />• Fleet Management – The Fleet Management Fund is used to account for total expenses related <br />to city vehicles. Each fund pays into this fund to cover their appropriate portions of expenses. <br /> <br />• Compensated Absences – The Compensated Absences Fund is used to account the liability owed <br />to employees for compensated absences such as Sick, Vacation, Overtime and Comp-Time. <br /> <br />• Information Technology (IT) - The IT Fund is used to account for total expenses related to <br />software and technology. Each fund pays into this fund to cover their appropriate portions of <br />expenses. <br />City of Orono - 2021 Budget Page 11