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Page 174
<br />Form 1
<br />City of South Bend, Indiana
<br />2013 Budget Departmental Summary
<br />Fund Name
<br />Illaft of Fame Debt Service
<br />Fund Number 313
<br />Department Description B Purpose
<br />To accumulate monies for the payment of Redevelopment Authoriyboods issued to n:finance bonds eamedfor constredem of
<br />Me College Football Hall of Fame. Financrng is to be prevent byan annual
<br />purport, tax levy.
<br />2012
<br />2013
<br />2010 2011 Amended 6130112
<br />Peep osetl
<br />Variance
<br />%
<br />Description
<br />Actual Actual Budget Actual
<br />Budget
<br />2012 -2013
<br />Ch,
<br />Revenue
<br />Property Taxes
<br />1,488,453 1,549,954 1,000,000 622,017
<br />1,118,460
<br />118,460
<br />11.8%
<br />Loral Murano Taxes
<br />- - - -
<br />-
<br />-
<br />-
<br />Other Taxes
<br />8],4]1 107,203 ]],fifi0 40,096
<br />80,350
<br />2,690
<br />3.5%
<br />Gan6/InteyovemmenGl
<br />- - - -
<br />-
<br />-
<br />-
<br />ChayesforSewices
<br />- - - -
<br />-
<br />-
<br />Interest Earnings
<br />- - - -
<br />-
<br />-
<br />-
<br />Bond Proceeds
<br />- - - -
<br />-
<br />-
<br />-
<br />Donations
<br />- - - -
<br />-
<br />-
<br />-
<br />Otherincome
<br />- 88,695 9$940 52,420
<br />71,468
<br />(2],4]2)
<br />-27.8%
<br />Tansfers In
<br />4,289
<br />Total Revenue
<br />1,575,924 1,750,141 1,176,600 714,533
<br />1,2]0,2]8
<br />93,678
<br />8.0%
<br />Expenditures by Cost Center
<br />Football Hall of Fame Debt Service
<br />1,405,500 1,405,000 1,332,215 696,215
<br />1,2]0,2]8
<br />(61,937)
<br />4.6%
<br />Total Cost Center Expenditures
<br />1A05,500 1A05,000 1,332,215 696,215
<br />1,2]0,2]8
<br />(61,937)
<br />4.6%
<br />Expendiures by Account Type
<br />Salanasa Wages
<br />- - -
<br />-
<br />-
<br />Farge Benefits
<br />- - -
<br />-
<br />-
<br />Other Personnel rests
<br />- -
<br />-
<br />-
<br />Total Personnel
<br />Su lies
<br />Professional Sew.(31xx)
<br />- - -
<br />-
<br />-
<br />Comm/farepordtion(32xx)
<br />- - -
<br />-
<br />-
<br />Pi nting 8 Advertising (33xx)
<br />- - -
<br />-
<br />Insurance, (Mai)
<br />- - -
<br />-
<br />-
<br />Ubliea;(35xx)
<br />- - -
<br />-
<br />-
<br />-
<br />Repairs8 Wi irmance(%xx)
<br />- - -
<br />-
<br />-
<br />-
<br />DebtService- Principal
<br />900,000 940,000 1,1]5,000 625,000
<br />1,115,000
<br />(601000)
<br />-5.1%
<br />Debt Service- Intemst B Fees
<br />505,500 465,000 157,215 71,215
<br />155,278
<br />(1,937)
<br />-1.2%
<br />Other Services B Chayes(39xx)
<br />- - - -
<br />-
<br />-
<br />-
<br />GantsBSubarea;
<br />- - - -
<br />-
<br />-
<br />-
<br />Payment In Lieu of Taxes
<br />- - - -
<br />-
<br />-
<br />-
<br />Tansfers Out
<br />- - - -
<br />-
<br />-
<br />-
<br />O1he,Hmncin Uses x
<br />Total Service &CM1arges
<br />1,405,500 1,405,000 1,332,215 696,215
<br />1,2]0,2]8
<br />(61,937)
<br />-6.3%
<br />Ca i al
<br />Total Expenditures by Type
<br />1A05,500 1A05,000 1,332,215 696,215
<br />1,2]0,2]8
<br />(61,937)
<br />4.6%
<br />Net Surplus /(deficit)
<br />170,424 345,141 (155,615) 18,318
<br />Beginning Cash Balance
<br />83,056 253,480 598,621 598,621
<br />443,006
<br />Balance Sheet Adjustments
<br />- - -
<br />Ending Cash Balance
<br />253,480 598,621 443,006 616,939
<br />443,006
<br />Staffing (FTE's)
<br />2011 2012 6130112
<br />2013
<br />Variance
<br />Actual Budget Actual
<br />Budget
<br />2012 -2013
<br />Non - Bargaining
<br />- - -
<br />-
<br />-
<br />Bayaining
<br />- - -
<br />-
<br />-
<br />Part- Time /SeasonaViem a
<br />TataI FTE's
<br />Explain Significant Revenue, Expenditure and Staffing Changes Below:
<br />In 2011, the Hall of Fame heads wen:
<br />refunded in order to reduce future debt service payments and Me related! special property Pox kvy. The property
<br />tax ate in this fund k adjusted annually
<br />by the DLGF to rover fohna debt service payments. Beginning in 2011, poperty in lieu of fixes paid by the
<br />Wastewater and Water utilities was received in this fund Thk avenue Porter reduces the property fix kvy needed
<br />in this fund The Hall
<br />of Fame Bond
<br />outstanding principal baknce was $6,405,000 at August 1, 2012 a W Me final payment is due February 1, 2018.
<br />Page 174
<br />Form 1
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