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COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, IN 46601 <br />November 17, 2010 <br />Soy TH 8 , <br />04 i-'~~r~~.., <br />U ~ .~---~ ~ d =. <br />`'' W~ PEACE ~~ -.~ <br />~~ <br />~~ ~~~~a~ <br />x~ <br />1865 ; . <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />OFFICE OF ADMINISTRATION ~ FINANCE <br />GREGG D. ZIENTARA, CITY CONTROLLER <br />Mr. Derek Dieter <br />President, South Bend Common Council <br />4th Floor, County-City Building <br />South Bend, 1N 46601 <br />PHONE 574-235-9216 <br />FAx 574-235-9928 <br />Re: Ordinance of the Common Council Creating a New Fund to Account for Community 8~ Economic <br />Development Administration <br />Dear President Dieter: <br />For many years, the expense to fund the day to day operations and administration of the City of South <br />Bend's Community and Economic Development Department ("Department") have been accounted for in <br />Fund 212 -Community and Economic Development Fund. <br />In addition to the costs of operating the Department, Fund 212 has also been used to account for specific <br />program expense, including, Community Development Block Grant, Neighborhood Stabilization Program, <br />Homeless Prevention and Rapid Re-housing Program and a variety of other federal and state grant <br />programs. These program expenditures represent the majority of the monies expended from the Fund <br />and operate under a different fiscal timing than that used by the city. <br />Therefore, in order to affect a proper financial control of the expenditures of the department, it is in the <br />best interest of the City to establish a new Community and Economic Development Administration Fund <br />(#211), which will account exclusively for the personnel, supply, services and capital costs of running the <br />Department. The accounting for grant monies and other federal and state assistance will remain in Fund <br />212. <br />The Community and Economic Development Administration Fund (#211) will be classified in the annual <br />financial report as a special revenue Fund and will receive funding from transfers in, charges for services <br />and other revenue sources. The new Fund 211 will be anon-reverting Fund and will earn interest on <br />outstanding cash balances. This Fund will be subject to appropriation by the City of South Bend Common <br />Council. <br />The 2011 budget for Fund 211 was passed by the Common Council on October 25, 2010. In January <br />2011, City of South Bend accounting staff will determine the proper distribution of cash balances, as of <br />January 1, 2011, to Funds 211 and 212 based on grant and other accounting and legal requirements. <br />0~' <br />