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<br /> <br /> <br />INTERNAL SERVICE FUNDS <br /> <br /> <br />Internal Service funds are used to account for the financing of goods or services by one department to <br />other departments of the City, or to other governmental units, on a cost-reimbursement basis. <br /> <br />Insurance Fund – Used to account for the insurance costs incurred by the City for general liability, <br />property, vehicle, workers’ compensation, and other insurance and deductibles. <br /> <br />Compensated Absences Fund – Used to account for the accrual of sick and vacation days that are <br />earned by the City’s employees. <br />