This study aims to establish an evaluation system for the Seoul Metropolitan Government's fund project. A fund is an account set up to carry out specific projects and to hold particular funds. Over the past decade, the number and size of the Seoul Metropolitan Government's funds have continuously increased. The Seoul Metropolitan Government's fund project has the following problems: it needs to be aligned with the purpose of the funds and be efficient and effective. However, the Seoul Metropolitan Government's fund projects are in the blind spot of the performance management system. Therefore, to enhance the soundness and efficiency of Seoul’s fund projects, an evaluation system must be introduced. This study proposes two types of fund project evaluation systems. A pre-feasibility review system and a fund project evaluation system. This evaluates whether a fund project aligns with the fund’s purpose before budget formulation. This system can serve as a pre-control mechanism for fund projects. Second, it is a system for evaluating the performance of fund projects. This assesses the effectiveness and efficiency of fund projects after completion to improve projects for the following year. This study suggests integrating the existing performance evaluation systems (Budgetary Program Evaluation System and Subsidy Program Evaluation System) to reduce the evaluation burden on Seoul city officials.