Other examples are the institutional stores used by several state agencies and the University of Washington hospital operations account. There are eleven of these funds. These funds are assets held in trust by the state that either benefit the state or that are a conduit for monies belonging to others. The state has 18 of these funds. The two most significant are child support payments and unemployment benefits.
Federal law requires that unemployment compensation monies be held in a trust fund.
These are three endowment funds at colleges and universities that are held in trust by the state. Only the interest earned on invested bequests can be spent from this fund. These are assets held by the state acting as an agent for other governments or individuals. These assets do not belong to the state. Agency funds report assets and liabilities but neither receives revenue from the state nor makes expenditures.