SPECIAL FUNDS
Fund 146: i SHUTTLE This fund was established to account for operation of iShuttle services in the Irvine Business Center (IBC) and Irvine Spectrum areas. In January 2011, the City entered into a cooperative agreement with the Orange County Transportation Authority (OCTA) to transfer $121.3 million of Proposition 116 funds to OCTA in exchange for a 30-year funding stream for iShuttle operations and maintenance, bus purchases and/or leases, and support costs up to a maximum annual obligation provided in the agreement. On February 23, 2016, City Council approved an amendment to the original Cooperative Agreement allowing OCTA to operate the iShuttle service on behalf of the City at a reduced cost using the same funding obligations provided in the agreement. The City is responsible to provide an annual contribution to OCTA of ten percent of the operating expenditures. In February 2019, two expansion routes were added to the service under Project V. OCTA purchased new buses for these new routes as reflected under Contract Services for FY 2018-19. In FY 2019-20, OCTA will purchase 12 replacement vehicles in the iShuttle fleet. The City's required match for the replacement vehicles is reflected under contract services.
FY 2019-21 Proposed Budget
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