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EXHIBIT A (Cont’d) <br />CITY OF SOUTH BEND,INDIANA <br />LOCAL GOVERNMENT FINANCIAL ASSURANCE TEST <br />PART B(i)(CC)(aa) <br />The City of South Bend has no outstanding General Obligation Bonds that are currently in default.This was <br />reaffirmed June 3,2019. <br />PART B(i)(CC)(bb) <br />The City of South Bend has no outstanding General Obligation Bonds rated below investment grade.This was <br />reaffirmed May 20,2019. <br />PART B(i)(CC)(cc) <br />Test =operating deficit not greater than five percent or more of total annual revenue in each of the past two <br />fiscal years. <br />Calendar Calendar <br />Year 2016 Year 2017 <br />Total annual revenue $228,208,502 (1)$232,886,074 (2) <br />Times:-5%-5%-5% <br />Maximum operating deficit ($11,410,425)($11,644,304) <br />Total operating income (deficit)$29,621,821 (1)$1,322,668 (2) <br />PART C(ii) <br />Financial Assurance for Closure.Post Closure,and Corrective Action Costs <br />Test =the entity can make a financial assurance for these costs up to 43%of the local government permittee’s <br />total annual revenue. <br />Calendar <br />Year 2017 <br />Total annual revenue $232,886,074 (2) <br />Times:43%43% <br />Maximum assurance $100,141,012 (3) <br />(1)Per 2016 City of South Bend CAFR dated June 30,2017. <br />(2)Per 2017 City of South Bend CAFR dated June 30,2018. <br />(3)Maximum amount City can assure for costs associated with the landfill plus other costs for any applicable <br />items under Part C(ii). <br />Note:At the request of IDEM,the calculations shown in Exhibit A relate to the City of South Bend as a whole. <br />(Subject to the comments in the attached report <br />dated June 4,2019 of Baker Tilly)