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Home My WebLink About2015 Redevelopment Authority & Building Corporation Report FinalCity of South Bend Redevelopment Authority and Building Corporation 2015 Financial Reports Prepared by - Department of Administration and Finance December 31, 2015 (Information obtained from the City of South Bend Comprehensive Annual Report (CAFR) for the year ended December 31, 2015) This Page Intentionally Left Blank 1 Table of Contents Page 3 Financial Statements 5 Redevelopment Authority Revenue & Expenditures 6 Building Corporation Revenue & Expenditures 9 - 22 Excerpts from the 2015 Comprehensive Annual Financial Report (CAFR) 25 - 30 Supporting Schedules 2 College FootballRedevelopmentRedvelopmentRedevelopmentRedevelopmentBlackthorn Total South Bend Hall of Fame Bond Bond Authority Authority Golf CourseRedvelopmentBuilding Corporation Debt ServiceAirport TaxablePalais RoyaleDebt Service GeneralEnterprise FundAuthority Debt Service Balance SheetAssets & Deferred Outflows Cash and cash equivalents 16,371$ 210,155$ 351,136$ 1,217,412$ 1,763$ -$ 1,796,837$ 561,710$ Restricted cash - - - - - - - - Investments 211 825,819 1,379,810 - 6,926 - 2,212,766 - Accounts receivable - - - - - - - - Interest receivable - 1,649 2,756 - 14 - 4,419 - Taxes - - - - - - - - Inventories - - - - - - - - Unamortized debt Issue Costs - - - - - - - - Prepaid Expenses - - - - - - - - Land and construction in progress - - - - - - - - Other capital assets ( net of accumulated depn) - - - - - - - - Total assets & deferred outflows16,582$ 1,037,623$ 1,733,702$ 1,217,412$ 8,703$ -$ 4,014,022$ 561,710$ Liabilities & Deferred Inflows Accounts payable - - - - - - - - Interfund payable - - - - - - - - Taxes payable - - - - - - - - Revenue Bonds payable - - - - - - - - Capital leases payable - - - - - - - - Accrued Interest Payable - - - - - - - - Other Current Payables - - - - - - - - Advances from Other Funds - - - - - - - - Total liabilities & deferred inflows- - - - - - - - Net16,582$ 1,037,623$ 1,733,702$ 1,217,412$ 8,703$ -$ 4,014,022$ 561,710$ Fund Balance/Net Position Restricted 16,582 1,037,623 1,733,702 1,217,412 - - 4,005,319 561,710 Assigned - - - - 8,703 - 8,703 - Invested in capital assets, net of related debt - - - - - - - - Restricted for debt service - - - - - - - - Unrestricted - - - - - - - - Total fund balance/net position16,582$ 1,037,623$ 1,733,702$ 1,217,412$ 8,703$ -$ 4,014,022$ 561,710$ City of South Bend, Indiana Redevelopment Authority and Building Corporation Financial StatementsDecember 31, 2015City of South Bend Redevelopment Authority 3 College FootballRedevelopmentRedvelopmentRedevelopmentRedevelopmentBlackthorn Total South Bend Hall of Fame Bond Bond Authority Authority Golf CourseRedvelopmentBuilding Corporation Debt ServiceAirport TaxablePalais RoyaleDebt Service GeneralEnterprise FundAuthority Debt Service City of South Bend, Indiana Redevelopment Authority and Building Corporation Financial StatementsDecember 31, 2015City of South Bend Redevelopment Authority Income StatementRevenue Property taxes 905,783$ -$ -$ -$ -$ -$ 905,783$ -$ Intergovernmental 74,194 - - - - - 74,194 - Golf course fees - - - - - 109,949 109,949 - Other - - - - - - - - Interest earnings61 6,013 10,050 11,117 59 - 27,300 90 Total revenue980,038 6,013 10,050 11,117 59 109,949 1,117,226 90 Expenditures/expenses Operations and maintenance - - - - - 165,977 165,977 - Administrative and general - - - - - - - - Depreciation - - - - - - - - Capital outlay - economic development - - - 2,002 1,447 - 3,449 - Capital outlay - highways and streets - - - - - - - 3,000 Capital outlay - culture and recreation - - - - - - - - Capital outlay - public safety - - - - - - - 107,977 Debt service - principal 1,150,000 - - 2,769,874 - - 3,919,874 1,637,965 Debt service - interest and fiscal charges 116,833 - - 2,085,665 - - 2,202,498 517,405 Debt service - bond issuance costs - - - 372,432 - - 372,432 - Total expenditures/expenses1,266,833 - - 5,229,973 1,447 165,977 6,664,230 2,266,347 Net revenue less expenditures/expenses(286,795) 6,013 10,050 (5,218,856) (1,388) (56,028) (5,547,004) (2,266,257) Other financing/nonoperating items Transfers in 220,578 - - 4,863,500 - - 5,084,078 2,165,606 Transfers out - (6,740) (11,262) - - (19,744) (37,746) - Debt proceeds - - - 31,450,000 - - 31,450,000 - Premium on refunding debt - - - 1,682,169 - - 1,682,169 - Interest revenue - - - - - - - - Interest expense - - - - - - - - Amortization expense - - - - - - - - Premium on debt issuance - - - - - - - - Issuance of refunding bonds - - - - - - - - Other Capital contributions - - - - - - - - Gain (loss) on disposition of assets - - - - - (1,180,964) (1,180,964) - Payment to refunded bond escrow agent - - - ( 35,698,815 ) - - ( 35,698,815 ) - Total other financing/nonoperating items220,578 (6,740) (11,262) 2,296,854 - (1,200,708) 1,298,722 2,165,606 Net changes in fund balances(66,217) (727) (1,212) (2,922,002) (1,388) (1,256,736) (4,248,282) (100,651) Fund balance/net position - beginnin g 82,799 1,038,350 1,734,914 4,139,414 10,091 1,256,736 8,262,304 662,361 Fund balance/net position - ending16,582$ 1,037,623$ 1,733,702$ 1,217,412$ 8,703$ -$ 4,014,022$ 561,710$ The Redevelopment Authority and Building Corporation are presented as blended component units in th e City of South Bend 2015 Co mprehensive Annual Financial Report. 4 Revenue Amount Percent Debt proceeds 31,450,000$ 80.0% Transfers in 5,084,078 12.9% Premium on refunding debt 1,682,169 4.3% Property taxes 905,783 2.3% Intergovernmental 74,194 0.2% Golf course fees 109,949 0.3% Interest earnings 27,300 0.1% Total Revenue 39,333,473$ 100.0% Expenditures Amount Percent Payment to refunded bond escrow agent 35,698,815$ 81.9% Debt service - principal 3,919,874 9.0% Debt service - interest and fiscal charges 2,202,498 5.1% Gain (loss) on disposition of assets 1,180,964 2.7% Debt service - bond issuance costs 372,432 0.9% Operations and maintenance 165,977 0.4% Transfers out 37,746 0.1% Capital outlay - economic development 3,449 0.0% Total Expenditures 43,581,755$ 100.0% City of South Bend, Indiana Redevelopment Authority Expenditures - 2015 Redevlopment Authority Revenue - 2015 Debt proceeds 80.0% Transfers in 12.9% Premium on refunding debt 4.3% Property taxes 2.3% Intergovernmental 0.2% Golf course fees 0.3% Payment to refunded bond escrow agent 81.9% Debt service - principal 9.0% Debt service -interest and fiscal charges 5.1% Gain (loss) on disposition of assets 2.7% Debt service -bond issuance costs 0.9%Operations and maintenance 0.4%Transfers out 0.1% 5 Revenue Amount Percent Transfers in 2,165,606$ 100.0% Interest earnings 90 0.0% Total Revenue 2,165,696$ 100.0% Expenditures Amount Percent Debt service - principal 1,637,965$ 72.3% Debt service - interest and fiscal charges 517,405 22.8% Capital outlay - public safety 107,977 4.8% Capital outlay - highways and streets 3,000 0.1% Total Expenditures 2,266,347$ 100.0% City of South Bend, Indiana Building Corporation Revenue - 2015 Building Corporation Expenditures - 2015 Transfers in 100.0% Interest earnings 0.0% Debt service - principal 72.3% Debt service -interest and fiscal charges 22.8% Capital outlay -public safety 4.8% Capital outlay - highways and streets 0.1% 6 This Page Intentionally Left Blank 7 Excerpts from the 2015 Comprehensive Annual Financial Report (CAFR) 8 City of South Bend, Indiana Special Revenue Funds Leaf Collection and Removal Police K-9 Unit Rainy Day Excess Levy Industrial Revolving Fund Total Assets Cash and cash equivalents$186,799$784$1,760,578$742$1,812,796$7,391,451 Investments 734,037 3,079 6,918,304 2,917 235,456 19,979,862 Receivables: Taxes------ Accounts 36,815----403,096 Interest 1,465 6 13,817 6-39,417 Intergovernmental-----2,587,668 Loans----4,875,110 6,240,632 Due from other funds-----1,373 Advances to other funds-----500,000 Property held for resale----97,800 3,253,252 Restricted assets------ Total assets$959,116$3,869$8,692,699$3,665$7,021,162$40,396,751 Liabilities Accounts payable$-$-$-$-$-$2,204,098 Due to other funds-----38,518 Advances from other funds-----1,589,771 Accrued liabilities and other - Accrued payroll payable-----77,085 Other current payables-----3,869 Total liabilities-----3,913,341 Fund Balances Nonspendable----4,174,946 8,442,221 Restricted----2,846,216 16,959,618 Committed-----1,165,587 Assigned 959,116 3,869 8,692,699 3,665-10,875,294 Unassigned-----(959,310) Total fund balances 959,116 3,869 8,692,699 3,665 7,021,162 36,483,410 Total liabilities and fund balances$959,116$3,869$8,692,699$3,665$7,021,162$40,396,751 9 Other Supplemental Information Combining Balance Sheet (Continued) Nonmajor Governmental Funds December 31, 2015 Debt Service Funds College Football Hall of Fame Debt Service Redevelopment Bond - Airport Taxable Coveleski Bond Debt Service Reserve Redevelopment Bond - Palais Royale South Bend Building Corporation Debt Service TIF Erskine Village Debt Service Smart Streets Debt Service Parks Bond Debt Service Fund $16,371$210,155$102,858$351,136$561,710$561,115$2,895,787$555,687 211 825,819 404,188 1,379,810---- -------- -------- -1,649 807 2,756--49- -------- -------- -------- -------- -------- -------- $16,582$1,037,623$507,853$1,733,702$561,710$561,115$2,895,836$555,687 $-$-$-$-$-$-$-$- -------- -------- -------- -------- -------- -------- 16,582 1,037,623 507,853 1,733,702 561,710 561,115 2,895,836 555,687 -------- -------- -------- 16,582 1,037,623 507,853 1,733,702 561,710 561,115 2,895,836 555,687 $16,582$1,037,623$507,853$1,733,702$561,710$561,115$2,895,836$555,687 10 City of South Bend, Indiana Debt Service Funds Capital Projects Funds Century Center Energy Conservation Debt Service Total Professional Sports Development Coveleski Stadium Capital Zoo Endowment Assets Cash and cash equivalents$50,032$5,304,851$86,564$16,721$10,015 Investments-2,610,028 340,160 65,707 39,355 Receivables: Taxes----- Accounts----- Interest-5,261 679 131 79 Intergovernmental--149,007-- Loans----- Due from other funds----- Advances to other funds----- Property held for resale----- Restricted assets----- Total assets$50,032$7,920,140$576,410$82,559$49,449 Liabilities Accounts payable$-$-$-$22,000$- Due to other funds----- Advances from other funds----- Accrued liabilities and other - Accrued payroll payable----- Other current payables----- Total liabilities---22,000- Fund Balances Nonspendable----- Restricted 50,032 7,920,140 576,410-- Committed---60,559 49,449 Assigned----- Unassigned----- Total fund balances 50,032 7,920,140 576,410 60,559 49,449 Total liabilities and fund balances$50,032$7,920,140$576,410$82,559$49,449 11 Other Supplemental Information Combining Balance Sheet (Continued) Nonmajor Governmental Funds December 31, 2015 Capital Projects Funds Park Nonreverting Capital Cumulative Capital Development Cumulative Capital Improvement Morris Performing Arts Center Capital TIF Downtown TIF Leighton Plaza TIF - West Washington Redevelopment General $34,842$115,850$63,040$104,662$-$84,013$305,206$1,763 373,867 455,240 247,718 411,277-131,219 1,199,326 6,926 ------84,361- -----2,192-- 742 903 492 821-262 2,392 14 -------- -------- -------- -------- ------436,690- 60,300------- $469,751$571,993$311,250$516,760$-$217,686$2,027,975$8,703 $-$-$-$9,945$-$4,996$3,366$- -------- -------- -------- -----6,112-- ---9,945-11,108 3,366- ------436,690- 469,751 571,993 311,250--206,578 1,587,919- ---506,815---- -------8,703 -------- 469,751 571,993 311,250 506,815-206,578 2,024,609 8,703 $469,751$571,993$311,250$516,760$-$217,686$2,027,975$8,703 12 City of South Bend, Indiana Special Revenue Funds Gift Urban Development Action Grant Leaf Collection and Removal Police K-9 Unit Rainy Day Revenue Property taxes$-$-$-$-$- Professional sports development taxes----- Intergovernmental----- Charges for services--438,225-- Fines and forfeitures----- Investment income 506 1,545 6,147 20 50,131 Rental income----- Other revenue 8,870 9,999-1,000- Total revenue 9,376 11,544 444,372 1,020 50,131 Expenditures Current: General government 48,368-79,280-- Public safety---971- Highways and streets 1,349---- Community and economic development----- Culture and recreation----- Capital outlay----- Debt service: Principal--68,587-- Interest on long-term debt--3,631-- Total expenditures 49,717-151,498 971- Excess of Revenue Over (Under) Expenditures(40,341)11,544 292,874 49 50,131 Other Financing Sources (Uses) Debt proceeds----- Premium on refunding debt----- Proceeds from sale of capital assets----- Transfers in----- Transfers out--(350,000)-- Total other financing sources (uses)--(350,000)-- Net Change in Fund Balances(40,341)11,544(57,126)49 50,131 Fund Balances- Beginning of year 105,219(231,454)1,016,242 3,820 8,642,568 Fund Balances - End of year$64,878$(219,910)$959,116$3,869$8,692,699 13 Other Supplemental Information Combining Statement of Revenue, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds Year Ended December 31, 2015 Special Revenue Funds Debt Service Funds Excess Levy Industrial Revolving Fund Total College Football Hall of Fame Debt Service Redevelopment Bond - Airport Taxable Coveleski Bond Debt Service Reserve Redevelopment Bond - Palais Royale $-$-$-$905,783$-$-$- ------- --12,520,023 74,194--- --2,193,222---- --85,586---- 17 151,293 349,159 61 6,013 2,928 10,050 ------- -19,416 1,310,145---- 17 170,709 16,458,135 980,038 6,013 2,928 10,050 --3,125,537---- --642,728---- --11,720,157---- -103,820 8,141,378---- --997,474---- ------- --666,322 1,150,000--- --35,609 116,833--- -103,820 25,329,205 1,266,833--- 17 66,889(8,871,070)(286,795)6,013 2,928 10,050 --623,430---- ------- --13,529---- --5,670,638 220,578--- --(353,550)-(6,740)-(11,262) --5,954,047 220,578(6,740)-(11,262) 17 66,889(2,917,023)(66,217)(727)2,928(1,212) 3,648 6,954,273 39,400,433 82,799 1,038,350 504,925 1,734,914 $3,665$7,021,162$36,483,410$16,582$1,037,623$507,853$1,733,702 14 City of South Bend, Indiana Debt Service Funds South Bend Building Corporation Debt Service TIF Erskine Village Debt Service Smart Streets Debt Service Parks Bond Debt Service Fund Revenue Property taxes$-$-$-$- Professional sports development taxes---- Intergovernmental---- Charges for services---- Fines and forfeitures---- Investment income 90-439 8 Rental income---- Other revenue---- Total revenue 90-439 8 Expenditures Current: General government---- Public safety 107,977--- Highways and streets 3,000--- Community and economic development---- Culture and recreation---- Capital outlay---- Debt service: Principal 1,637,965 220,000-- Interest on long-term debt 517,405 268,380 245,644- Total expenditures 2,266,347 488,380 245,644- Excess of Revenue Over (Under) Expenditures(2,266,257)(488,380)(245,205)8 Other Financing Sources (Uses) Debt proceeds--3,141,041- Premium on refunding debt---- Proceeds from sale of capital assets---- Transfers in 2,165,606 488,380-555,679 Transfers out---- Total other financing sources (uses)2,165,606 488,380 3,141,041 555,679 Net Change in Fund Balances(100,651)-2,895,836 555,687 Fund Balances- Beginning of year 662,361 561,115-- Fund Balances - End of year$561,710$561,115$2,895,836$555,687 15 Other Supplemental Information Combining Statement of Revenue, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds Year Ended December 31, 2015 Debt Service Funds Capital Projects Funds Century Center Energy Conservation Debt Service Total Professional Sports Development Coveleski Stadium Capital Zoo Endowment Park Nonreverting Capital Cumulative Capital Development $-$905,783$-$-$-$-$428,312 --626,192---- -74,194----38,148 -----7,613- ------- 32 19,621 2,394 254 285 2,517 2,316 ------- --56,232 41,853-250- 32 999,598 684,818 42,107 285 10,380 468,776 ------- -107,977----- -3,000----- --800---- ------- ---22,000-65,812- -3,007,965 720,000---510,970 -1,148,262 134,803---19,693 -4,267,204 855,603 22,000-65,812 530,663 32(3,267,606)(170,785)20,107 285(55,432)(61,887) -3,141,041----- ------- ------- 50,000 3,480,243----52,191 -(18,002)----- 50,000 6,603,282----52,191 50,032 3,335,676(170,785)20,107 285(55,432)(9,696) -4,584,464 747,195 40,452 49,164 525,183 581,689 $50,032$7,920,140$576,410$60,559$49,449$469,751$571,993 16 City of South Bend, Indiana Capital Projects Funds Cumulative Capital Improvement Morris Performing Arts Center Capital TIF Downtown TIF Leighton Plaza TIF - West Washington Revenue Property taxes$-$-$-$-$487,272 Professional sports development taxes----- Intergovernmental 403,987---- Charges for services-61,164--- Fines and forfeitures----- Investment income 645 2,981-864 6,997 Rental income 25,000---- Other revenue---160,202- Total revenue 429,632 64,145-161,066 494,269 Expenditures Current: General government----- Public safety----- Highways and streets----- Community and economic development----- Culture and recreation----- Capital outlay-71,505-126,814 102,144 Debt service: Principal----- Interest on long-term debt----- Total expenditures-71,505-126,814 102,144 Excess of Revenue Over (Under) Expenditures 429,632(7,360)-34,252 392,125 Other Financing Sources (Uses) Debt proceeds----- Premium on refunding debt----- Proceeds from sale of capital assets----- Transfers in----- Transfers out(367,875)-(9,941,478)-- Total other financing sources (uses)(367,875)-(9,941,478)-- Net Change in Fund Balances 61,757(7,360)(9,941,478)34,252 392,125 Fund Balances- Beginning of year 249,493 514,175 9,941,478 172,326 1,632,484 Fund Balances - End of year$311,250$506,815$-$206,578$2,024,609 17 Other Supplemental Information Combining Statement of Revenue, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds Year Ended December 31, 2015 Capital Projects Funds Redevelopment General Community Revitalization Enhancement District TIF No. 1 - Southside Development TIF No. 3 - Southside Development TIF-Central Medical Service Area Football Hall of Fame Capital Major Moves $-$-$2,379,269$19,183$-$-$- ------- ------- ------- ------- 59 377 26,920 31,654-3,122 249,442 ------- ------- 59 377 2,406,189 50,837-3,122 249,442 ------- ------- ------- -105,000----- ------- 1,447-762,481 201,724-69,761 2,256,767 ------- -7,794----- 1,447 112,794 762,481 201,724-69,761 2,256,767 (1,388)(112,417)1,643,708(150,887)-(66,639)(2,007,325) ------- ------- ------- -----66,639- ---(488,380)(2,215,650)-- ---(488,380)(2,215,650)66,639- (1,388)(112,417)1,643,708(639,267)(2,215,650)-(2,007,325) 10,091 114,866 4,472,032 5,942,023 2,215,650-9,106,270 $8,703$2,449$6,115,740$5,302,756$-$-$7,098,945 18 City of South Bend, Indiana Schedules of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Nonmajor Governmental Funds Debt Service Funds - College Football Hall of Fame Debt Service Year Ended December 31, 2015 Variance Actual With Final Budgetary Budget Basis Positive Original Final Amounts(Negative) Revenues: Taxes: Property 1,177,620$ 906,264$ 906,263$ (1)$ Intergovernmental 96,436 294,846 294,772 (74) Other- 50 41 (9) Total revenues 1,274,056 1,201,160 1,201,076 (84) Expenditures: Debt service: Principal 1,150,000 1,150,000 1,150,000 - Interest and fiscal agent fees 116,820 122,000 122,000 - Total expenditures 1,266,820 1,272,000 1,272,000 - Net change in fund balances 7,236 (70,840) (70,924) (84) Fund balances - Beginning 74,164 74,164 74,164 - Fund balances - Ending 81,400$ 3,324$ 3,240$ (84)$ Budget/GAAP Reconciliation Net change in fund balance, budget basis(70,924)$ To adjust revenues for accruals(461) To adjust expenditures for accruals 5,168 Net change in fund balance, GAAP basis(66,217)$ Budgeted Amounts 19 City of South Bend, Indiana Schedules of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Nonmajor Governmental Funds Debt Service Funds - Redevelopment Bond - Airport Taxable Year Ended December 31, 2015 Variance Actual With Final Budgetary Budget Basis Positive Original Final Amounts(Negative) Revenues - Other 5,000$ 7,400$ 5,989$ (1,411)$ Other financing uses - Transfers out(5,000) (5,000) (6,740) (1,740) Net change in fund balances- 2,400 (751) (3,151) Fund balances - Beginning 1,038,904 1,038,904 1,038,904 - Fund balances - Ending 1,038,904$ 1,041,304$ 1,038,153$ (3,151)$ Budget/GAAP Reconciliation Net change in fund balance, budget basis(751)$ To adjust revenues for accruals 24 Net change in fund balance, GAAP basis(727)$ Budgeted Amounts 20 City of South Bend, Indiana Schedules of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Nonmajor Governmental Funds Debt Service Funds - Redevelopment Bond - Palais Royale Year Ended December 31, 2015 Variance Actual With Final Budgetary Budget Basis Positive Original Final Amounts(Negative) Revenues - Other 6,000$ 13,000$ 10,007$ (2,993)$ Other financing uses - Transfers out(6,000) (6,000) (11,262) (5,262) Net change in fund balances- 7,000 (1,255) (8,255) Fund balances - Beginning 1,735,840 1,735,840 1,735,840 - Fund balances - Ending 1,735,840$ 1,742,840$ 1,734,585$ (8,255)$ Budget/GAAP Reconciliation Net change in fund balance, budget basis(1,255)$ To adjust revenues for accruals 43 Net change in fund balance, GAAP basis(1,212)$ Budgeted Amounts 21 City of South Bend, Indiana Schedules of Revenues, Expenditures, and Changes in Fund Balances Budget and Actual - Nonmajor Governmental Funds Capital Projects Funds - Redevelopment General Year Ended December 31, 2015 Variance Actual With Final Budgetary Budget Basis Positive Original Final Amounts(Negative) Revenues - Other 252$ 252$ 59$ (193)$ Expenditures: Economic Development - Other services and charges 6,000 6,000 1,447 4,553 Net change in fund balances(5,748) (5,748) (1,388) 4,360 Fund balances - Beginning 10,096 10,096 10,096 - Fund balances - Ending 4,348$ 4,348$ 8,708$ 4,360$ Budget/GAAP Reconciliation Net change in fund balance, budget basis(1,388)$ To adjust expenditures for accruals- Net change in fund balance, GAAP basis(1,388)$ Budgeted Amounts 22 This Page Intentionally Left Blank 23 Supporting Schedules 24 12/31/2015Prior Current 12/31/2015Auditor Yea r Yea r CAFR Account Numbe r Account Name WorksheetAdjustmentAdjustmentBalanceTotal Notes FUND 313 HALL OF FAME DEBT SERVICE - completed 3/23/16 313-0000-101.00-00CASH 53.58 53.58 313-0000-103.00-00INVESTMENTS 210.54 210.54 313-0000-111.00-00CASH WITH FISCAL AGENT 11,131.47 5,185.2216,316.69 Trustee Cash 313-0000-116.00-00INTEREST REC -INVESTMENTS 0.40 0.4016,581.21Per 12/31/15 AR Listing 313-0000-271.00-00FUND BALANCE (82,320.38) (480.03) (82,800.41)(82,800.41) Per 12/31/14 CAFR 313-0000-311.00-00GENERAL PROPERTY TAX (906,263.17) 480.03 (905,783.14) 313-0000-312.02-00AUTO EXCISE (62,231.16) (62,231.16) 313-0000-312.03-00COMMERCIAL VEHICLE TAX (11,963.00) (11,963.00) 313-0000-338.00-00PILOT TRANSFERS IN (220,577.52) (220,577.52) 313-0000-361.00-00INTEREST ON INVESTMENTS (40.76) (17.72)(58.48)(1,200,613.30) Trustee Cash 313-0401-472.38-01PRINCIPAL 1,150,000.00 1,150,000.00 313-0401-472.38-02INTEREST 122,000.00 (5,167.50) 116,832.501,266,832.50Trustee Cash TOTAL HALL OF FAME DEBT SERVICE - - - - - FUND 315 AIRPORT 2003 DEBT RESERVE - completed 3/18/1 6 315-0000-101.00-00CASH 210,155.46 210,155.46 315-0000-103.00-00INVESTMENTS 825,819.31 825,819.31 315-0000-116.00-00INTEREST REC -INVESTMENTS 1,578.63 70.691,649.321,037,624.09Per 12/31/15 AR Listing 315-0000-271.00-00FUND BALANCE (1,038,304.52) (45.66) (1,038,350.18)(1,038,350.18) Per 12/31/14 CAFR 315-0000-361.00-00INTEREST ON INVESTMENTS (5,988.93) 45.66 (70.69)(6,013.96)(6,013.96) Per 12/31/15 AR Listing 315-1002-460.50-02INTER-FUND OPER. TRANSFER 6,740.05 6,740.056,740.05Trans out to Airport TIF TOTAL AIRPORT 2003 DEBT RESERVE - - - - - City of South Bend, Indiana Conversion Worksheets - Civil City and TIFDecember 31, 2015 25 US Bank US Bank 2011 Refunding 2011 Refunding Sinking Fund Oper/Reserve Fund Name 149536000 149536001 Total Cash Balance at January 1, 2015$0.70$11,130.77$11,131.47 Debt Service Payment Received from City 1,272,000.00 0.00 1,272,000.00 Interest Earnings 9.49 8.23 17.72 Transfer In From Other Account 0.00 5,169.64 5,169.64 Principal Paid to Bondholders(1,150,000.00)0.00(1,150,000.00) Interest Paid to Bondholders(116,832.50)0.00(116,832.50) Transfer Out To Other Accounts(5,169.64)0.00(5,169.64) Other 0.00 0.00 0.00 Cash Balance at December 31, 2015$8.05$16,308.64$16,316.69 Summary Per Trustee Account Number Statements Adjustments Per CAFR Debt Service Pymt Received from City 313-0000-392-00-00 1,272,000.00 0.00 1,272,000.00 Interest Earnings 313-0000-361-00-00 17.72 0.00 17.72 Transfer In From Other Account--5,169.64(5,169.64)0.00 Principal Paid to Bondholders 313-0401-472-38-01(1,150,000.00)0.00(1,150,000.00) Interest Paid to Bondholders 313-0401-472-38-02(116,832.50)0.00(116,832.50) Transfer Out To Other Accounts--(5,169.64)5,169.64 0.00 Other--0.00 0.00 0.00 Net 5,185.22 0.00 5,185.22 Beginning Cash - 01/01/2015 11,131.47 0.00 11,131.47 Ending Cash - 12/31/2015 16,316.69 0.00 16,316.69 South Bend Redevelopment Authority College Football Hall of Fame Include with Fund 313 Hall of Fame Conversion Worksheet December 31, 2015 Prepared - March 20, 2016 26 12/31/2015 Prior Current 12/31/2015 Auditor Year Year CAFR Account Number Account Name Worksheet Adjustment Adjustment Balance Total FUND 619 BLACKTHORN GOLF COURSE - completed 3/23/16 619-0000-115.00-00 ACCOUNTS RECEIVABLE(7,564.80) 7,564.80 0.00 619-0000-117.00-00 PREPAID EXPENSE 3,000.00 (3,000.00)0.00 619-0000-142.00-00 INVENTORY-GOLF PROSHOP 5,893.95 (5,893.95)0.00 619-0000-144.00-00 CONCESSION INVENTORY 450.00 (450.00)0.00 619-0000-149.10-00 UNAM DEBT ISSUE COSTS- 0.00 619-0000-149.12-00 UNAMORTIZED BOND DISCOUNT- 0.00 619-0000-190.10-00 FIXED ASSETS 4,843,162.00 (4,843,162.00)0.00 619-0000-190.15-00 LAND & CONSTRUCTION IN PROG 1,187,248.00 (1,187,248.00)0.00 619-0000-190.20-00 ACCUMULATED DEPRECIATION(3,139,742.00) 3,139,742.00 0.00 0.00 619-0000-202.00-00 ACCOUNTS PAYABLE 12,960.35 (12,960.35)0.00 619-0000-202.40-00 A/P CENTRAL STORES- 0.00 619-0000-202.80-00 TEAM STAFF/TIPS- 0.00 619-0000-204.00-00 DUE TO OTHER FUNDS(1,472,130.00) 1,472,130.00 0.00 619-0000-227.24-00 ACCRUED INTEREST PAYABLE(300.10) 300.10 0.00 619-0000-227.40-00 LEASE PAYABLE(257,238.04) 257,238.04 0.00 0.00 619-0000-249.00-00 PR YR RES FOR ENCUMBRANCE(160,028.23) (160,028.23) 619-0000-271.00-00 FUND BALANCE(1,097,641.92) 933.07(1,096,708.85)(1,256,737.08) 619-1065-347.01-19 SEASON PASS SALES(533.93) (533.93) 619-1065-347.01-23 PRO SHOP RETAIL SALES(2,045.58) (2,045.58) 619-1065-347.01-25 DRIVING RANGE(1,800.00) (1,800.00) 619-1065-347.01-26 GIFT CERTIFICATES 1,180.93 1,180.93 619-1065-347.01-27 MEMBERSHIPS/SEASON PASSES(115,449.00) (115,449.00) 619-1065-347.01-30 CONCESSION(188.97) (188.97) 619-1065-347.01-41 OTHER GOLF(460.50) 9,348.67 8,888.17(109,948.38) 619-1065-460.50-02 INTER-FUND OPER. TRANSFER 19,743.60 19,743.60 Expenditures Maintenance 619-1065-460.62-01 SALARIES 33,177.05 33,177.05 619-1065-460.62-02 PAYROLL OVERHEAD 4,776.96 4,776.96 619-1065-460.62-03 HEALTH INSURANCE 1,605.05 1,605.05 619-1065-460.62-05 TRAVEL ALLOWANCE 467.18 467.18 619-1065-460.62-08 UNIFORMS/CLOTHING 112.96 112.96 619-1065-460.62-23 SMALL TOOLS 95.42 95.42 619-1065-460.62-24 IRRIGATION REPAIR 411.00 411.00 619-1065-460.62-26 FUEL/LUBRICANTS 1,137.22 1,137.22 619-1065-460.62-31 EQUIPMENT REPAIRS 11,188.93 11,188.93 619-1065-460.62-34 OFFICE SUPPLY 296.29 296.29 619-1065-460.62-36 BUILDING MAINT.324.69 324.69 619-1065-460.62-37 TREE TRIMMING 1,734.51 1,734.51 619-1065-460.62-39 UTILITY WATER 382.32 382.32 619-1065-460.62-40 UTILITY ELECTRIC 2,193.11 2,193.11 619-1065-460.62-42 TRASH REMOVAL 514.28 514.28 619-1065-460.62-43 MISCELLANEOUS 111.14 (10,281.74)(10,170.60) 619-1065-460.62-46 UTILITY GAS 977.36 977.36 Administration 619-1065-460.63-04 PAYROLL SERVICES 4,673.19 4,673.19 619-1065-460.63-05 DUES/SUBSCRIPTION 161.41 161.41 619-1065-460.63-10 ADVERTISING 3,205.71 3,205.71 619-1065-460.63-18 YELLOW PAGES/WEBSITE 740.00 740.00 619-1065-460.63-20 INSURANCE 158.00 158.00 619-1065-460.63-23 CITY ACCOUNTING FEE 6,000.00 6,000.00 619-1065-460.63-26 TELEPHONE SERVICE 2,589.90 2,589.90 619-1065-460.63-28 LICENSES & PERMITS 75.00 75.00 619-1065-460.63-31 WATER/SEWER 1,124.23 1,124.23 619-1065-460.63-32 GAS C.H.2,722.60 2,722.60 619-1065-460.63-34 OFFICE SUPPLIES/EQUIP.3,428.61 3,428.61 619-1065-460.63-38 POSTAGE/FREIGHT 292.53 292.53 619-1065-460.63-39 CREDIT CARD FEES 2,090.09 2,090.09 619-1065-460.63-40 SECURITY 237.00 237.00 619-1065-460.63-41 MISCELLANEOUS 1,344.10 1,344.10 619-1065-460.63-42 BUILDING MAINTENANCE 3,633.29 3,633.29 Proshop 619-1065-460.64-01 SALARIES 48,261.05 48,261.05 619-1065-460.64-02 PAYROLL OVERHEAD 5,985.92 5,985.92 619-1065-460.64-03 HEALTH INSURANCE 2,567.74 2,567.74 619-1065-460.64-10 COST OF GOODS SOLD 521.10 521.10 619-1065-460.64-15 GOLF CART ELECTRICITY 1,960.93 1,960.93 619-1065-460.64-17 HANDICAP SERVICE 550.00 550.00 619-1065-460.64-28 DEBT SERVICE - PRINCIPAL 4,688.91 (4,688.91)0.00 619-1065-460.64-29 DEBT SERVICE - INTEREST 535.91 (535.91)0.00 619-1065-460.64-30 TOURNAMENT EXP - LPGA(17.75) (17.75) Concessions 619-1065-460.65-01 SALARIES 6,366.75 6,366.75 619-1065-460.65-02 PAYROLL OVERHEAD 684.43 684.43 619-1065-460.65-03 HEALTH INSURANCE 9.00 9.00 619-1065-460.65-10 COST OF GOODS SOLD 55.34 55.34 Other 619-1065-460.66-10 FIXED FEE 16,000.00 0.00 16,000.00 619-1065-460.66-12 MGMT.. EXPENSE 1,333.78 0.00 1,333.78 185,721.28 619-1065-460.46-00 LOSS ON SALE OF COURSE- 0.00 1,180,964.18 1,180,964.18 1,180,964.18 TOTAL BLACKTHORN GOLF COURSE OPERATIONS- - - - - City of South Bend, Indiana Conversion Worksheets - Civil City and TIF December 31, 2015 27 Unadjusted CAFR Account Trial Balance Trial Balance Account Name Number 12/31/15 Adjustments 12/31/15 Cash - Police & Fire 755-0000-101-00-00 22,232.46 0.00 22,232.46 Cash - Public Works Building, 87.7% of total 755-0000-101-00-00 616,548.91(77,071.13)3 539,477.78 Cash - US Bank 2013 Revenue Bond Issue (EMS)755-0000-101-00-00 112,362.73(112,362.73)4 0.00 Beginning Fund Balance, per CAFR 12/31/14(739,028.24)76,667.42 (662,360.82) Interest Income 755-0000-361-00-00(105.87)15.49 4(90.38) Transfers In - From City Funds 755-0000-392-00-00(2,660,000.00)494,394.00 1,4(2,165,606.00) Transfers In - From Building Corporation Accounts--(236,256.21)236,256.21 2 0.00 Paying Agent Fees 755-0602-431-38-03 3,950.00(950.00)4 3,000.00 Debt Service - Principal 755-0602-431-37-11 1,920,000.00(282,035.00)1,4 1,637,965.00 Debt Service - Interest 755-0602-431-37-12 724,040.01(206,567.91)1,4 517,472.10 Transfers Out - To Building Corporation Accounts--236,256.21(236,256.21)2 0.00 Other Expense - EMS Cash Balance 12/31/14 755-0602-431-39-89 0.00 107,909.86 4 107,909.86 Proof Total(0.00)0.00 0.00 1 - eliminate Wastewater portion of Public Works Building COIT debt service and Transfer In of 12.3% account no. 641-0630-793-37-02 2 - eliminate transfers in/transfer out from Building Authority Debt Service accounts for consolidation/conversion worksheet. 3 - allocate 12.3% of Building Corporation cash for Public Works Building to Wastewater trial balance. 4 - eliminate EMS 2013 Building Corporation debt, principal, interest, account fees, etc - separate EMS Enterprise Fund in 2015 recorded on Fund 287 TB Wastewater Cash Summary (12.3% of PW Building Total) (add to Wastewater Conversion Worksheet) Beginning Cash - 1/1/15 (per prior year audit)76,667.43 Lease Rental Paid by Wastewater 83,394.00 #641-0630-793-37-11 and 12 Wastewater Principal Paid - $545,000.00 x 12.3%(67,035.00) Wastewater Interest Paid - $129,725.00 x 12.3%(15,955.30) Ending Cash - 12/31/15 77,071.13$ EMS Cash Summary - 2013 Building Corporation Bonds (add to EMS Conversion Worksheet) Beginning Cash - 1/1/15 (as adjusted for Enterprise Fund)107,977.25 Interest Earnings 15.49 Lease Rental Paid by EMS 411,000.00 Account Fees(950.00) Principal Paid(215,000.00) Interest Paid(190,682.01) Ending Cash - 12/31/15 112,360.73$ City of South Bend Conversion Worksheet - Building Corporation Debt Service Accounts (Recorded in CAFR as a separate fund. Not in Navline or on Controller's Cash Report) December 31, 2015 28 Wells FargoWells FargoWells Fargo EMS EMS EMS EMS EMS 2010 COIT2001 COIT2010 RefundingUS BankUS BankUS BankUS BankUS BankUS BankUS BankUS Bank2010 Refunding2010 RefundingPublic Works2012 Police/Fire2012 Police/Fire2 012 Police/Fire2013 Rev Bond2013 Rev Bond2013 Rev Bond2013 Rev Bond2013 Rev Bond Debt ReserveSinking FundOperation/Res.Sinking FundOper/ReserveReserveSinking FundOper/ReserveReserveConst FundBond Int AcctGrand10835901108359001083590520039600200396001200396002206670000206670001206670002206670003206670004 Total Balance @ January 1, 2015$607,500.00$28.79$7,684.21$5. 17$15,832.82$0.00$2.87$107,858.40$0.00$115.98$0.00$739,028.24 Receipts: Interest 60.80 0.02 0.09 22.58 5.76 1.13 4.16 11.33 0.00 0.00 0.00105.87 Lease Payments from City 0.00678,000.00 0.001,571, 000.00 0.00 0.00411,000.00 0.00 0.00 0.00 0.002,660,000.00 Transfer From Other Accounts (1) 0.00 60.803,344.31 3,875.177,376.373,875.17106,199.64111,524.75 0.00 0.00 0.00236,256.21 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Receipts 60.80678,060.823,344.401,574,897.757, 382.133,876.30517,203.80111,536.08 0.00 0.00 0.002,896,362.08 Disbursements: Account Fees0.000.002,000.000.001,000.000.000.00950.000.000.000.003,950.00 Debt Service - Principal0.00545,000.000.001,160, 000.000.000.00215,000.000.000.000.000.001,920,000.00 Debt Service - Interest0.00129,725.000.00403,635.00 0.00 0.00190,680.01 0.00 0.00 0.00 0.00724,040.01 Transfer to Other Accounts (1) 60.803,344.31 0.00 11,251.543,875.17 0.00111,524.75106,199.64 0.00 0.00 0.00236,256.21 Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total Disbursements 60.80678,069.312,000.001,574,886.54 4,875.17 0.00517,204.76107,149.64 0.00 0.00 0.002,884,246.22 Balance @ December 31, 2015607,500.00$ 20.30$ 9,028.61$ 16.38$ 18,339.78$ 3,876.30$ 1.91$ 112,244.84$ -$ 115.98$ -$ 751,144.10$ Fund Name City Payment Debt Service Master 404(P)477,965.00 477,965.00 404(I)116,641.00 113,769.70 641(P)67,035.00 67,035.00 641(I)16,359.00 15,955.30 678,000.00 674,725.00 404(P)290,000.00 290,000.00 404(I)102,750.00 100,908.75 324(P)870,000.00 870,000.00 324(I)308,250.00 302,726.25 1,571,000.00 1,563,635.00 288(P)205,250.00 215,000.00 288(I)205,750.00 190,680.00 411,000.00 405,680.00 2,660,000.00 2,644,040.00 Grand Total 404-0401-415.37-12324-1050-460.37-11324-1050-460.37-12288-0902-422.37-11288-0902-422.37-12404-0401-415.37-11404-0401-415.37-12641-0630-793.37-11641-0630-793.37-12404-0401-415.37-11City of South Bend, Indiana Building Corporation Transactions - Per Trustee StatementsJanuary 1, 2015 through December 31, 2015$1,359,500 Assured Guaranty InsuranceAccount Name US Bank 2013 Rev. BondReconciliation of Transfers in from CityWells Fargo 2010 Refunding Public Works #36Wells Fargo 2010 RefundingWells Fargo 2010 RefundingWells Fargo 2010 RefundingUS Bank 2012 Police/fire #39 - 25%Bond Name US Bank 2012 Police/fire - 25%US Bank 2012 Police/fire - 75%US Bank 2012 Police/fire - 75%(allocation confirmed with John March for 2015)US Bank 2013 Rev. Bond EMS #116 29 Closed Closed #70395302#70395300 Operation Bond & Reserve Sinking Totals Beginning Balance, January 1, 2013$111,279.95$316,964.66$428,244.61 Interest earned 1.79 5.12 6.91 Transfer from Another Account 0.00 110,031.74 110,031.74 Lease Rental Paid from City Funds 0.00 207,878.85 207,878.85 Trustee Fees Paid to Well Fargo(1,250.00)0.00(1,250.00) Bond Principal Paid 0.00(620,000.00)(620,000.00) Bond Interest Paid 0.00(14,880.00)(14,880.00) Transfer to Another Account(110,031.74)0.00(110,031.74) Other 0.00(0.37)(0.37) Excess Lease Rental 0.00 0.00 0.00 Ending Balance, December 31, 2013($0.00)($0.00)($0.00) These amounts and Fund 319 are reported as investment cash on CAFR. City of South Bend Blackthorn Redevelopment Accounts - Fund 619 Conversion Worksheet December 31, 2013 Summary of Wells Fargo Trust Statements Funds 619 and 319 and these trustee statements combined into one fund for the CAFR. 30