Department of Administration and Finance 2016 Annual Report

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'r Department of Administration & Finance 2016 Annual Report • The City's new Employee Health & Wellness Center opened for employee use in January. Located at 320 Dr. Martin Luther King Jr. Blvd, Ste. 300, the clinic recorded a total of 5,563 appointments including 776 unique employee appointments. • Human Resources conducted Supervisory Training in September. • In conjunction with open enrollment for health insurance, human resources planned and hosted a Health Fair for City employees and their families in November. Enduring Financial Strength • A high credit rating of"AA" with Standard and Poor's was maintained during 2016. South Bend has one of the top city bond ratings in the State of Indiana. A bond rating of AA+ was received from Fitch Rating Services on South Bend Redevelopment Authority Debt during 2016. • Working with the Mayor's Office, Common Council, department heads, fiscal officers and others, prepared and received passage of the 2017 City of South Bend budget that contains funding for priority projects of the City. This budget contains five-year operating and capital plans as recommended by the Government Finance Officers Association (GFOA) and credit rating agencies. Also began incorporating Priority Based Budgeting that is allowing the City to look at the budget through a new lens to ensure we are spending tax dollars with specific results in mind. • The Finance Department solicited and closed on three capital lease financing proposals for City vehicles and equipment during 2017 in the amount of$8.7 million for a variety of public safety, public works and other city vehicles. Multiple financing proposals were received for each lease financing from local and national companies with an interest rates of 1.498%, 1.522% and 1.598% on the transactions. • The City realized savings from a bond refunding of$160,657 on a net present value basis from the 2016 Waterworks Bond Refunding during 2016. A total of$9,067,367 in bond refunding savings has been realized since Mayor Pete assumed office in 2012. Excellent Services and Efficient Processes o The Payroll Department issued approximately 41,000 regular and pension payroll checks during 2016 over the course of 26 pay periods for regular payroll and 12 pay periods for pension payroll. All payroll accounts had a zero balance as of January 1, 2017 which means that they were properly reconciled. 3