Unrestricted Revenues:
The City of LA’s budget for Unrestricted Revenues is $6.8B. Unrestricted Revenues are funds that can literally be spent on anything (unrestricted/discretionary spending).
Public Comment IN-PERSON ONLY on May 1st.
John Ferraro Council Chamber
Room 340, City Hall
200 N Spring St., Los Angeles, CA 90012
See complete Budget, Finance & Innovation Committee Hearing schedule.
The Mayor presents the complete Proposed Budget in four budget books: Budget Summary, Proposed Budget Book, Detail of Departmental Programs (Blue Book), and Revenue Outlook.
GENERAL FUND: The primary operating fund of the City. It is used to account for all financial resources except those required to be accounted for in other funds. General Fund revenues are derived from such sources as taxes, licenses, permits, fees, fines, intergovernmental revenues, charges for services, special assessments, interest income, and other resources available for discretionary funding.
RESERVE FUND: An account in which unrestricted cash is set aside outside the budget for unforeseen expenditures and emergencies.
SPECIAL FUNDS (OTHER SPECIAL PURPOSE FUNDS): Are used to account for revenues derived from specific taxes, fees, governmental grants, or other revenue sources that are designated to finance particular functions and activities of the City.
• EXAMPLE – The Special Parking Revenue Fund accounts for all monies collected from parking meters in the City except those located in established vehicle parking districts for operations of meters in the City.
BUDGET STABILIZATION FUND: Establishes a method to prevent overspending during prosperous years and to provide resources to help maintain service levels during lean years.
• This Fund is comprised of excess revenue from seven economy-sensitive taxes, Property Tax, Utilities Users’ Tax, Business Tax, Sales Tax, Transient Occupancy Tax, Documentary Tax, and Parking Users’ Tax.
UNRESTRICTED REVENUES: Revenues that the City can use for any general expenditure. All unrestricted revenues come from the General Fund. Certain General Fund receipts resulting from fees imposed on various city services, however, are “restricted” in the sense that the funds collected are used to offset the cost of the service provided.