State of Hawaii Enterprise Financial System

Money Talks is a recurring series that breaks down the basics of public sector accounting, finance, and their real-world impact on the EFS Project and the State of Hawaii. In this session, we’ll discuss “special funds.”

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What are Special Funds?

At the State of Hawaii, governmental financial operations are managed using separate, self-balancing groups of accounts called “funds.” Each fund is maintained independently for its specific purpose and includes all accounts related to its resources, obligations, revenues, and expenditures.

In particular, “special funds” are lawfully established to support specific operations and programs and have statutory or other legal limitations dictating how money is spent. Unlike “general funds,” which have broad usage, special funds are supported by dedicated revenue sources such as fuel taxes, business and non-business licenses, fees, and permits. These funds are exclusively allocated to specific activities, including highway construction and maintenance, harbor and airport operations, hospital services, housing and homestead programs, certain public education initiatives, and the University of Hawaii.

An example of a special fund within our local government would be money in a special fund designated for environmental protection, which cannot be used for other initiatives, like education-related expenses. This ensures funds are used as intended, promoting accountability and transparency in local government.

About Ingrid Adams

With a versatile mix of technical and interpersonal skills, Ingrid brings a well-rounded breadth of experience to her role as a Business Analyst for the EFS Project.

Before joining ETS, Ingrid worked as an Account Assistant for EPIC Brokers, a retail risk management and employee benefits insurance brokerage firm, where she was responsible for regularly maintaining the company’s policy management system for the West Coast Private Client Division.

As a proud Rainbow Warrior, Ingrid earned her Bachelor of Business Administration in Finance and International Business from the Shidler College of Business at the University of Hawaiʻi at Mānoa.