GLOSSARY
Hotel Improvement District (HID)
An additional 2 percent hotel tax, on top of the City’s 8 percent base Transient Occupancy Tax (TOT) is collected for the Business (Hotel) Improvement District, with 1.5 percent designated for the Irvine Chamber of Commerce and 0.5 percent used for City sponsored cultural events. Also known as the Transient Occupancy Tax (TOT) or bed tax – an 8 percent tax added to the cost of renting a hotel room within the City. Includes the City’s street, bridge, traffic signal, landscaping, and trail networks. To be capitalized as part of the City’s infrastructure network, a related component must have an initial individual cost of at least $50,000 and an estimated useful life greater than two years.
Hotel Tax
Infrastructure
Inputs
Resources (e.g. dollars, staff and other assets) required to accomplish a job or provide a service.
Integrated Financial Accounting System (IFAS)
Irvine’s computerized accounting system used to coordinate the City’s purchasing and general accounting procedures.
Inter-Fund Transfers
Payments from one fund to another fund, primarily for work or services provided.
Internal Service Fund
Funds used to report activities related to providing goods or services on a cost- reimbursement basis to other funds, departments, or divisions.
Irvine Adult Day Health Services (IADHS)
Offers day-care programs to frail elderly and disabled adults over 50 who reside in Irvine, Newport Beach, Tustin, Corona Del Mar and surrounding areas (www.irvineadhs.org).
Irvine Barclay Theatre Operating Company (IBTOC)
A private not-for-profit performing arts organization (www.thebarclay.org).
Irvine Company
A privately held company best known for its comprehensive focus on quality of life in the balanced, sustainable communities it has planned and developed on the Irvine Ranch in Orange County, California (www.irvinecompany.com). A Joint Powers Authority between the City of Irvine and the Irvine Unified School District. The project promotes quality before and after school child care by providing financial assistance to children from low-income working families through community-based, non-profit organizations located on elementary school sites for children of families who live and/or work in Irvine.
Irvine Child Care Project (ICCP)
Irvine Child Development Center
A company contracted by the City to operate and provide child care services at the City-owned Child Development Center at the Civic Center (www.icdcoc.com).
Operations Corporation
550
FY 2019-21 Proposed Budget
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