2006 Comprehensive Annual Financial Report

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The following schedule presents a summary of general governmental expenditures for the year ended December 31, 2006: Expenditures General Government Public Safety Highways and Streets Economic Development Health and Welfare Culture and Recreation Debt Service Capital Outlay Total Expenditures 2006 Amount % of Total $ 11,244,734 8.7% 51,050,640 39.4% 13,583,761 10.5% 9,752,254 7.5% 75,000 0.1 13,849,622 10.7% 13,580,333 10.5% 16,391,192 12.6% $ , , 100.0% As one can see, the City spends more on public safety than any other activity, with 39.4% of all general governmental ex enditures spent for this purpose. This is followed by spending on culture and recreation (i.e. parks at 10.7% and highways and streets (10.5%). Proprietary funds. The City of South Bend maintains two different types of proprietary funds- enterprise and internal service funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City maintains seven enterprise funds. Information is presented separately in the proprietary statement of net assets and the proprietary statement of revenues, expense and changes in fund net assets for the Water Utility, Wastewater Utility and Century Center, which aze considered major enterprise funds. Data from the other four non-ma or enterprise funds are combined into a single, aggregated presentation. Individual fund data ~or each of these non-major proprietary funds is provided in the. form of combining statements elsewhere in this report. Internal service funds are used to accumulate and allocate costs internally among the City's various functions and funds. The City maintains three internal service funds. The City of South Bend uses internal service funds to account for its self-funded liability insurance program, employee health benefits program and central services (a department that accounts for the expenses related to fuel, vehicle repairs, printing and other services provided to City departments on acost-reimbursement basis). Because these services predominantly benefit governmental rather than business-type functions, they have been included within governmental activities in the government-wide financial statements but are combined into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in the report. Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the City government. Fiduciary funds are not reflected in the government-wide financial statement because the resources of those funds are not available to support the City s own~rograms. . The City maintains four fiduci fiznds. The City has two pension trust funds (1925 Police Pension and 1937 Firefighter's Pension, one agency fund (Payroll) and one .private-purpose trust fund (Cemetery). Pension Trust Fund Operations - Most City employees are covered by the Public Employees Retirement Fund (PE1ZF) and the 1977 Police Officers' and Firefigtiters' Pension Fund, both of which are administered by the State of Indiana. However, certain police officers and firefighters hired before May 1,1977, (who did not opt into the 1977 fund) continue to be members of the 1925 Police Officer's Pension Fund or the 1937 Firefighters' Pension Fund. These two funds are administered by the City. The number ofpolice officers and firefighters in the City-managed pension trust funds will continue to decline in the future as current participants retire. 24