2001 Comprehensive Annual Financial Report

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Increase l .Percent of Percent Decrease} Increase 1 Ex enditures 20UI Amount of Total from 20U0 ecrease General Government $ 6,938,489 6.7°/a $ X66,527} -0.9°/4 Public Safety 3$,687,286 37.3% 2,558,139 7.14/4 Highway and Streets 14,064,377 13.6% 131,126 4.9°/4 Health and Welfare 65,000 0.1 % 0 O.D°/4 Culture and Recreation 12,864,397 12.4% 1,691,232 15.1 °/4 Urban Redevelopment and Housing 5,269,097 8.0% 1,459,757 21.4% Capital Outlay 14,937,077 14.4% X3,486,420} -18.9% Debt Service 7,916,470 7.6% 1,465,024 15.5% $ 103 742193 100.0% $ 3 352 331 3,30/4 The increase in Public Safety expenditures can be attributed to personnel cost increases for the Police and Fire Departments x$1,298,687 which represents 80% of the total increase and equates to an annual personnel cost increase of 8.2%}, additional public safety capital expenditures x$567,382} and other operational cost decreases x$246,389}. Personnel cost increases reflect the salary and benefit increases negotiated with two separate unions that represent the City's Fraternal Drder of Police and Firefighters. The increase in Culture and Recreation expenditures reflect the overall operating and capital cost increases incurred for the Park Department x$928,648}, an increase of $119,990 to fully fund the annual operational costs of the Morris Performing Arts Center, and an increase due to specific capital projects that were funded out of the Special Revenue funds during 2001. Urban Redevelopment and Housing expenditures increased as a result of a wide variety of programs funded by various state and federal sources during bath 2000 and 2001. Through various agreements in 2000 to induce the Robert Bosch Corporation to retain and expand its current facility, the City will finance various improvements and will purchase the property. These expenditures were a significant part of the increase in 2001. Capital Qutlay expenditures change from year to year based upon the specific projects that are funded in a given year, Compared to 2000, 2001 capital expenditures were lower due to funding and timing of new projects. In 2002, additional expenditures for the brownfield distribution center by TJX Corporation will approximate $5.0-7.0 million. This will be a substantial new investment in the Studebaker Corridor Redevelopment area by a firm new to the South Bend area. The increase in Debt Service was due to increased principal and interest payments for the f rst installment on the Hall of Fame debt. These bonds are more fully explained in the footnotes that accompany the financial statements found in the next section of this document. Proprietar!~perat~ons. The City's proprietary operations comprise several separate and