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50 UTHIlf B E N D <br /> OCTOBER 2011 <br /> MAYOR SIFPkIF9tl f, [UFC[E "47 V14 <br /> Letter from the Mayor • <br /> 2012 budget shows City's fiscal strength <br /> Dear Friends and Neighbors, • PERFORMING ARTS CENTTR • <br /> • October 28 S p <br /> After some of the most challenging budget years in my time as an elected official,I'm Straight No Chaser • <br /> very happy to report this year that our work on the City of South Bend's proposed • November 6 7p • <br /> 2012 budget is almost uneventful. Several years of difficult choices,reduced spending • Bill Cosby <br /> and fiscally responsible behavior have put us in a position where our annual budget November 11 7p • <br /> process is much less challenging. • Frankie Beverly and Maze • <br /> • Notre Dame Football • <br /> • <br /> Indiana's property tax caps have provided tax relief for some property owners, • October 29 us. Navy • <br /> particularly landlords and businesses. But in 2012 the state's changes mean the City of November 5 @ Wake Forest • <br /> South Bend will receive$21.3 million less in property tax revenues than it would have • November 12 vs. Maryland • <br /> before the tax caps.Normally,that would mean a dramatic reduction in services. But • November 19 vs. Boston College • <br /> the adoption of local option income taxes has provided us with an alternative source of November 26 @ Stanford <br /> revenue, enabling us to present a balanced 2012 budget while sustaining our • Football Fridav's Block Part y • <br /> commitment to public safety. In fact, during 2012 we will add five new firefighters to • Every home game Friday night, 5-9 PM • <br /> the South Bend Fire Department while keeping our police force at full strength. (Public • 100 N.Michigan St. near the College <br /> safety spending now represents 83 percent of our General Fund budget,up from 75 Football Hall of Fame.Admission is just$5, • <br /> percent as recently as 2008.)Our General Fund spending budget of$64.4 million for • and kids 12 and under are free. • <br /> 2012 is actually a 1-percent decrease from the current fiscal year. (The General Fund, • • <br /> • • <br /> which pays for general government and public-safety functions,represents the largest Downtown South Bend First Fridav's• p <br /> • <br /> of six segregated sections of budget accounts requiring approval of the South Bend November 4 Sp-9• Kids Night Out,Activities and experiences • <br /> Common Council.)The overall City budget-which includes pensions,road projects, • for kids, adults and families 0 <br /> capital investments and user-funded accounts like utilities-is proposed to be$263.4 • • <br /> million, down 2 percent from 2011. Potawatomi Zoo • <br /> • October 21-22 6p-9p • <br /> It's a testimony to City of South Bend fiscal strength that our 2012 budget is • Zoo Boo • <br /> • <br /> decreasing-even as other cities face annual increases of as much as 7 percent. But • October 23 12p-4p • <br /> you need not take only my word for it. In July,both Fitch Ratings and Standard& Little Zoo Boo • <br /> Poor's rating agencies gave stable rating outlooks to bonds held by the City of South • • <br /> Bend:Fitch at AA+and Standard&Poor's at AA. "The city's strong finances, • "All About Art"-Lunch and Learn Series • <br /> • • <br /> evidenced by extremely healthy reserve levels, have helped the city weather the October 12p-lp• Art in the City-Presented by-South Bend • <br /> economic recession and state-enacted changes to the property tax system,"Fitch • • <br /> reported. "In anticipation of the negative impact of state property tax reform, and • Museum of Art • <br /> through proactive and conservative fiscal practices, city management made strategic • November 1 12p-lp <br /> • Splendid Shakespeare-Presented by- <br /> expenditure cuts and increased local income taxes to replace a portion of lost property • Shakespeare at Notre Dame • <br /> tax revenue, which has diversified revenues and put the city's finances on firmer • For infortnafion please contact Sue Salinas <br /> ground. : at (574)235-5879 • <br /> • <br /> "The stable outlook reflects the city's very strong level of reserves and currently Other Happenings • <br /> balanced financial operations and, as such,we do not expect the rating to change in the • November 5 Sa-lp • <br /> two-year horizon of the outlook,"according to Standard&Poor's. Our stewardship of • "Operation Care Package"-Blue Star • <br /> • <br /> the City of South Bend's finances means that the new mayor and Common Council Mothers are collecting donations to create • <br /> will have some flexibility to pursue new initiatives. While other cities across Indiana • care packages for our military during the • <br /> and the Midwest are cutting services and staff,we are able to continue to operate the • holiday season. Heritage Square Martin's. • <br /> efficient and vital services our residents need. • Fore more information:Tammy Britt: • <br /> • <br /> Sincerely, P.S. Keep up to date on the latest • (574)234-7074• • <br /> innovations impacting South Bend • November 12-13 • <br /> at www.SouthBendON.com • `Art for the Min d"at Stanley y Clark School • <br /> Visit Our Website at www SouthBendIN.gov! <br />