02-11-2013 Mayor Highlights City's Fiscal Strength in Address to Council

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SOU TJJ 8F 4 � i r-- x x 1565 CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR OFFICE OF THE MAYOR FOR IMMEDIATE RELEASE February 11, 2013 Contact: Mike Schmuhl Phone: 574-235-9261 MAYOR HIGHLIGHTS CITY'S FISCAL STRENGTH IN ADDRESS TO COUNCIL Credit Rating Highest Among Second-Class Indiana Cities SOUTH BEND In the mayor's annual address to the South Bend Common Council required by municipal code South Bend Mayor Pete Buttigieg presented the overall fiscal health of the City, explained the City's high credit rating, and announced a financial reporting award for the City's Department of Administration and Finance. "In tough economic times, the City of South Bend continues its strong fiscal stewardship of public funds," said Mayor Buttigieg. "I would like to applaud the work of our departments and employees as they do more with less to improve the overall quality of life in our city." Overall,revenue exceeded expenditures in 2012, the first year of Mayor Buttigieg's administration. The total revenue to the City, which includes property taxes, charges for service, bond proceeds, and other items, came to $284,166,267. Expenditures totaled $261,227,352. Increases in Enterprise funds in recent years can be attributed to the large capital projects needed for the unfunded, federally mandated CSO (combined sewer overflow)project, which will cost hundreds of millions of dollars over the next 20 years as part of the Clean Water Act. In the City's General Fund, which totaled $63,399,284 in 2012, public safety accounted for 83.44% of the fund. As it relates to workforce,the administration has kept the number of full-time employees lower than the previous two years. In 2012, the total number of full-time City employees was 1,118, with 51% of those employees working in public safety. 1400 COUNTY-CITY BUILDING•227 W.JEFFERSON BOULEVARD•SOUTH BEND,INDIANA 46601 PHONE 574/235-9261 • FAx 574/235-9892 • TTD 574/235-5567