Institutional Federal Compliance Report 2021

Special Revenue Funds

Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted to expenditures for specific purposes. School Tax Relief Fund (STAR)— to reimburse school districts for the property tax exemptions for homeowners. Health Care Reform Act Resources— to account for health care initiatives financed with hospital assessments, surcharges, proceeds from the sale of public assets and cigarette tax receipts. Dedicated Mass Transportation Trust Fund— to account for monies that are earmarked for mass transportation purposes. Health Care Transformation Fund— to account for monies from various sources that are earmarked for health care delivery purposes. Conservation Fund— to account for hunting and fishing license fees and related fines and penalties that are dedicated to fish and wildlife programs. Environmental Protection and Spill Compensation Fund— to account for license fees and penalties that are earmarked for oil spill clean-up costs and claims for damages. Mass Transportation Operating Assistance— to account for various taxes earmarked for public mass transportation operating assistance programs. MTA Financial Assistance Fund— to account for taxes and fees imposed in the Metropolitan Commuter Transportation District dedicated for Metropolitan Transportation Authority operating and capital needs. Miscellaneous— to account for various fees, fines, user charges and other miscellaneous revenues that are earmarked for specific State programs.