12-10-18 Personnel and Finance - Laserfiche WebLink

Home Browse Search

.CITY OF SOUTH BEND I OFFICE OF THE CLERK Committeemember Ferlic made a motion to send Bill No. 64-18 to the full Council with a favorable recommendation. Committeemember Voorde seconded this motion which carried by a voice vote of four(4) ayes. Bill No. 65-18-VPA Non- Reverting Funds Clean-Up Ordinance Mr. Dougherty stated, For this bill, it was filed by Aaron Perri and I will defer to him but this is an administrative clean up. Aaron Perri, Executive Director of Venues, Parks & Arts with offices located at 301 South St. Louis Boulevard, stated,The bill before you is in line with what we discussed at budget season. If you recall, we talked about consolidating several funds into one (1) to make it more transparent and comprehensive for revenues and expenses particularly on the parks side of things.This doesn't affect the venues side of things. It essentially puts everything in Fund #201 and we propose tracking all of that, as we have always done in Fund #203 and #405 accordingly, by account numbers and project codes. That way we can make sure things are restricted, as they always have been, to their intended uses, particularly capital expenditures. There were some questions earlier on about how we track those. The tracking mechanism won't disappear and will be exactly how we've tracked it in the original funds by project codes and account numbers. I would be happy to answer any further questions. Councilmember Broden asked, For the record, what are the fund balances in Fund#203 and#405? I think there was a memorandum. Mr. Perri replied, I believe they were in the previous ordinance but as of October 31, 2018, Fund #203 balanced at about $836,000. Fund #405 balanced at approximately $127,000. The transfers that were favorably recommended earlier are a little bit different than those exact numbers because those are just estimates of where we are today. The transfers are above and beyond that and certainly we can only transfer what is available at year end. They are still restricted for their intended purposes. Councilmember Broden followed up. So however they were accrued will be expended and restricted? Mr. Perri replied, Yes and it will all be in one (1) fund. Certainly more simple than transferring this back and forth every time we want to use them. I think everybody will appreciate this. Councilmember Broden stated, I appreciate the changes this reflects for simplicity and respecting the original intent. I know we've had expenditures that have exceeded these so I guess my point is I think it is important for transparency and for folks watching these funds accrue when they went to various facilities. As you and I experienced during earlier conversations, relative to Elbel, the public was interested in making sure those dollars that were the add on to the rates actually go back to support it. I appreciate that. Committee Chair White then turned the floor to members of the public wishing to speak in favor of or in opposition to the legislation. There were none. She then turned the floor back to the Committee for further comment or main motion. EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 455 County-City Building 227W.Jefferson Bvld South Bend,Indiana 46601 p 574.235.9221 f 574.235.9173 HD 574.235.5567 www.southbendin.gov 9