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September 30, 2016 <br />Financial Report <br />The Financial Report provides current year financial information for each City fund in a condensed format. Information is provided <br />for revenue (by type and fund), expenditures, property taxes, debt status, and staffing levels. This report is prepared monthly and <br />supplements other reports that the City prepares such as the Controller's Cash Report, the Monthly Departmental Financial Report, <br />and the Comprehensive Annual Financial Report (CAFR). <br />Revenue by Type <br />Revenue by Fund <br />-Fund 291 (River Rescue). This is revenue related to training. Revenue is generated from registration fees. <br />-Fund 258 (Human Rights). This is revenue related to grants received to battle housing and employment discrimination. <br />-Fund 294 (Police Academy). This fund has reached 85% of its budgeted revenue. This is tuition related to the advancement of present <br />and future officers. <br />-Fund 677 (Hall of Fame), is at 97% of its budgeted revenue. This is revenue received in the amount of $48,709 for the sale of the <br />property, for construction of a new motel. <br />-Fund 661 (2012 Sewer Bond), is at 94% of its budgeted revenue. This is revenue from bank and investment interest. <br />Property Taxes <br />Total property taxes collected for the year 2015 was~$70.9 million or 94.76%of the tax levy.Specifically,in 2015 the City of South Bend <br />received a total of$46,171,932 in property tax revenue in the civil city funds(general fund,parks,College Football Hall of Fame,and CCD). <br />For TIF funds, the City received a total of $24,742,902 in property tax revenue. <br />Expenditures <br />Debt <br />Headcount <br />If you have any questions regarding this report, please contact John Murphy at (574) 235-7678. <br />As of September 2016,the City has spent 56%of budgeted expenditures,compared to 55%in September 2015.The General Fund has <br />spent 70%of its 2016 budgeted expenditures,versus 74%in 2015.The following funds have reached 60%or more of their budgeted <br />expenditures as a result of bond payments:Fund 313(Hall of Fame),Fund 410(UDAG),Fund 377(Professional Sports Development), <br />and Fund 432 (TIF - Erskine Village). <br />This month,various debt service payments were made in the amount of~$100,000 to Sun Trust,Kansas State Bank,PNC Bank,U.S. <br />Bank and Ricoh USA.Payments are related to IT equipment leases,police/public works vehicles,solid waste containers,and sewer <br />bonds. <br />The Full Time Headcount as of September was 1,072 vs.a budgeted amount of 1,102.Currently,there are a total of 30 vacant positions. <br />The 30 open positions are in the following departments: Public Safety (22), Public Works (7), DCl (1). <br />For discussion on property taxes,see section listed below.The overall percentage of budgeted revenues that have been received by the <br />city is 71%,compared to 70%in September 2015.Revenue type 369(Memorial Hospital)has reached 100%of its budgeted revenue. <br />This is revenue from Leighton Plaza for common area fees.It is a lease between Memorial Hospital and the South Bend Redevelopment <br />Commission. Also revenue type 350 (Job Target Penalty Fee) has reached 100% of its budgeted revenue. <br />As of September 2016,the general fund has reached 60%of its budgeted revenue,compared to 61%last year.The following funds have <br />reached slightly above the normal percentage of their 2016 budgeted revenue amount at this time: <br />Property taxes are received in June and December.Property taxes collected in June 2016 totaled~$41.5 million.Civil city funds received <br />~$26.8 million and TIF funds received~$14.7 million.For 2016,the projected levy collection rate is 95%or$75.2 million.Please note, <br />2016 civil city funds are ~$2.4 million more than 2015 budget. <br />- Funds 249 (PS LOIT), 404 (COIT), and 408 (EDIT) received normal and timely distributions this month. <br />Financial Report September 2016 Page 2 of 25