SPECIAL FUNDS
General Reserve Funds The 12 General Reserve Funds, which include the General Fund, are required to be separated by City Council direction, state or federal statutes, or for accountability purposes. Funds in this category include: the General Fund, Asset Management Plan Fund, Compensated Absences Fund, three development related funds, Contingency Reserve Fund, School Support Fund, Infrastructure & Rehabilitation Fund, Innovation Fund, Revenue Clearing Fund, and Irvine Recovery Plan Fund. The General Fund is detailed in other chapters of this document. For purposes of clarity, the following review of General Reserve Funds does not include General Fund totals. For FY 2023-24, General Reserve Fund revenues are estimated to be $27,928,095, and appropriations are $43,525,533 (excluding transfers). For FY 2024-25, General Reserve Fund revenues are estimated to be $28,856,610, and appropriations are $30,276,914 (excluding transfers). Special Revenue Funds The 29 Special Revenue Funds are established to account for financial transactions from restricted revenue sources, as determined by law or administrative action. Gas Tax, Measure M2 Sales Tax, Systems Development Charge (SDC), Maintenance Assessment District, Irvine Business Complex (IBC), Community Development Block Grants (CDBG), iShuttle, Great Park, and numerous other grant related funds are included in this classification. For FY 2023-24, Special Revenue Fund revenues are estimated to be $106,093,791 and appropriations are $119,468,174 (excluding transfers). For FY 2024-25, Special Revenue Fund revenues are estimated to be $102,864,771 and appropriations are $105,989,218 (excluding transfers). Capital Projects Funds The 15 Capital Projects Funds are established to account for infrastructure and public facility improvements. Typically, budgets in these funds span several years. For FY 2023-24, Capital Projects revenues are estimated to be $46,995,926 and appropriations are $224,908,000 (excluding transfers). For FY 2024-25, Capital Projects revenues are estimated to be $43,202,798 and appropriations are $242,483,276 (excluding transfers).
Debt Service Funds For FY 2023-25, no Debt Service Fund revenues or appropriations are included at this time.
Internal Services Funds The six Internal Services Funds account for the financing of goods or services provided by one department to another on a cost reimbursement basis. These functions include: Inventory, Insurance, Fleet Services, Mail Services, Civic Center Maintenance & Operations, and Strategic Technology Plan. For FY 2023-24, Internal Service Fund revenues are estimated to be $44,365,267 and appropriations are $50,519,241 (excluding transfers). For FY 2024-25, Internal Service Fund revenues are estimated to be $44,275,786 and appropriations are $53,121,375 (excluding transfers).
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FY 2023-25 Adopted Budget
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