SPECIAL FUNDS
General Reserve Funds The 11 General Reserve Funds 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; and Revenue Clearing Fund. The General Fund is detailed in other sections of this document. For purposes of clarity, the following review of General Reserve Funds does not include General Fund totals. For FY 2019-20, General Reserve Fund revenues are estimated to be $26,717,700, and appropriations are $31,515,337 (excluding transfers). For FY 2020-21, General Reserve Fund revenues are estimated to be $24,041,267, and appropriations are $32,289,691 (excluding transfers). Special Revenue Funds The 25 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, Orange County Great Park, and numerous other grant related funds are included in this classification. For FY 2019-20, Special Revenue Fund revenues are estimated to be $74,988,078 and appropriations are $69,289,917 (excluding transfers). For FY 2020-21, Special Revenue Fund revenues are estimated to be $74,469,100 and appropriations are $66,413,732 (excluding transfers). Capital Projects Funds The 26 Capital Projects Funds are established to account for infrastructure and public facility improvements. Typically, budgets in these funds span several years. For FY 2019-20, Capital Projects revenues are estimated to be $18,312,975 and appropriations are $225,827,832 (excluding transfers). For FY 2020-21, Capital Projects revenues are estimated to be $18,233,025 and appropriations are $169,236,721 (excluding transfers). 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 2019-20, Internal Service Fund revenues are estimated to be $37,292,456 and appropriations are $37,203,415 (excluding transfers). For FY 2020-21, Internal Service Fund revenues are estimated to be $40,050,495 and appropriations are $38,473,830 (excluding transfers). Trust and Agency Funds The City’s practice is to account for revenues and appropriations within the appropriate Assessment District or Community Facilities District. These bonds (issued under the 1913 and 1915 Improvement Bond Act or the Mello-Roos Community Facilities Act of 1982) are not liabilities of the City of Irvine and do not provide resources for government operations. Special District Funds such as these may be used only for purposes identified in the bond issuance documents and therefore are not subject to annual budgeting. Debt Service Funds For FY 2019-21, no Debt Service Fund revenues or appropriations are projected.
302
FY 2019-21 Proposed Budget
Made with FlippingBook Learn more on our blog