About this policy
The Trust Fund Policy explains how the City of Wrenford manages money held in trust for residents, developers, and community partners. These funds are kept separate from the City’s general operating budget and must be used only for their set purpose.
Who this covers
This policy applies to all City staff, council members, and city committees that handle trust funds. It also covers anyone submitting a request to access money held by the City.
Key rules
- Separate roles: No single person can approve, process, and record a trust fund transaction. At least two staff members must be involved in every step.
- Approval limits: Requests under $10,000 are approved by the City Treasurer. Requests over $10,000 require written approval from Council.
- Regular reports: The Corporate Services department prepares a quarterly trust fund report for Council, showing all deposits, payments, and remaining balances.
- Record keeping: Every transaction must be documented. The City Auditor reviews all trust fund accounts every year to make sure the rules are followed.
How to request access
If you are a developer or resident with a trust fund held by the City, you must submit a completed Trust Fund Request form to the Corporate Services department. Include your account number, the reason for the request, and supporting documents. Staff will process approved requests within five business days.
Following the rules
All staff must follow this policy. Failure to follow the rules may result in disciplinary action under the Respectful environment policy or referral to the Integrity Commissioner for serious breaches. Council reviews this policy every two years to make sure it matches current best practices and Ontario regulations.
For questions about trust fund management or to request a copy of the full policy, contact the Corporate Services team at [email protected].