Derek Moran
If the above post sounds familiar, thats cuz its briefly touched on in the 'The Municipal Councillor's Guide' put out by the Province on pg.49:
Trust Funds
Trust funds are funds held in trust by municipalities. An example would be funds held on behalf of residents of homes for the aged. Trust funds are not generally accounted for as part of a municipality�s assets. A municipality acts as a trustee for such funds.
http://www.mah.gov.on.ca/AssetFactory.aspx?did=4965