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Home My WebLink About07-2016 Controller's Trustee Cash ReportPeriod Ending:July 31, 2016 Issued By:Administration/Finance City of South Bend Controller's Trustee Cash Report Page Contents 2 Purpose & Narrative 3 Summary 4 Graph of Cash Balances Distribution Mayor Pete Buttigieg Chief of Staff James Mueller Common Council Department Heads Fiscal Officers Controller John Murphy Deputy Controller Jennifer Hockenhull City Finance Director Rahman Johnson Sr. Budget Analyst Amy O'Connor Purpose of Report The City of South Bend maintains certain cash balances with bank trustees in connection with bond and capital lease financing agreements that have been approved by the Common Council, Redevelopment Redevelopment Commission and the Board of Public Works. The cash reserves are restricted and may not be used for general city operations. Rather, trustee cash reserves must be used as provided for in the debt documents including for capital projects, debt service payments, debt service reserves and operating reserves The bank trustee accounts are also used for the defeasance of prior debt that has been refunded. The primary bank trustees used by the city are US Bank and Wells Fargo Bank. The debt service payments on bonds and capital leases are included in the regular city budget. Current Activity The current trustee cash accounts include capital project money for the Smart Streets bond, Parks/EDIT bond and the Century Center Energy Savings agreement with Ameresco. Cash in capital project accounts is spent down as work is completed on projects. Trustee cash accounts also includes proceeds from lease purchase agreements for the replacement of certain city vehicles and equipment on a regular basis. If you should have any questions regarding this report, please contact John Murphy, City Controller (574) 235-7678, Jennifer Hockenhull, Deputy City Controller (574) 235-9822, or Rahman Johnson, City Finance Director (574) 235-5921. Administration Finance 8/29/2016 Page 2 City of South Bend, IndianaTrustee Cash Summary January 1, 2016 - July 31, 2016 BeginningYTDYTDEndingNamePurposeEntityTrusteeCashReceiptsDisbursementsCash 2012 Police/Fire Building RefundingSinking FundBuilding CorporationUS Bank16.381,572,091.19786,016.38786,091.192012 Police/Fire Building RefundingOperating & RepairBuilding CorporationUS Bank18,339.782,317.120.0020,656.902012 Police/Fire Building RefundingReserve FundBuilding CorporationUS Bank3,877.305.900.003,883.202013 EMS Revenue BondSinking FundBuilding CorporationUS Bank1.91517,985.12313,727.50204,259.532013 EMS Revenue BondOperating & ReserveBuilding CorporationUS Bank112,244.8412.24108,475.593,781.492013 EMS Revenue BondReserve FundBuilding CorporationUS Bank0.000.000.000.002013 EMS Revenue BondConstruction FundBuilding CorporationUS Bank115.980.060.00116.042013 EMS Revenue BondBond Interest AccountBuilding CorporationUS Bank0.000.000.000.002010 BPW Building RefundingDebt Service Reserve FundBuilding CorporationWells Fargo607,500.0030.2925.46607,504.832010 BPW Building RefundingSinking FundBuilding CorporationWells Fargo20.30676,530.63340,025.46336,525.472010 BPW Building Refunding Operating & ReserveBuilding CorporationWells Fargo9,028.611,312.992,514.007,827.60Total Building Corporation 751,145.102,770,285.541,550,784.391,970,646.252015 Bank of AmericaVehicle/Equipment LeaseCity of South BendBank of America729,477.200.00690,988.0338,489.172015 Century Center Energy Conservation BondConstruction FundCity of South BendBank of America1,348,997.000.001,348,997.000.002015 Parks/EDIT BondBond Retirement AccountCity of South BendUS Bank158,367.59253,519.60190,039.52221,847.672015 Parks/EDIT BondDebt Service Reserve FundCity of South BendUS Bank397,313.00200.320.00397,513.322015 Parks/EDIT BondConstruction FundCity of South BendUS Bank4,995,003.882,517.28173,772.834,823,748.332015 PNC BankVehicle/Equipment LeaseCity of South BendUS Bank1,225,502.36461.79430,141.00795,823.152016 PNC Equipment Finance Vehicle/Equipment LeaseCity of South BendUS Bank0.003,992,918.72245,201.003,747,717.722016 Public-Finance.comVehicle/Equipment LeaseCity of South BendUS Bank0.003,340,670.611,843,513.601,497,157.01Total City of South Bend 8,854,661.037,590,288.324,922,652.9811,522,296.372005 Erskine Village Bonds Reserve FundRedevelopment AuthorityWells Fargo561,112.832.100.00561,114.932005 Erskine Village BondsPrincipal & InterestRedevelopment AuthorityWells Fargo1.77489,502.51365,835.00123,669.282008 Eddy Street Commons Sinking FundRedevelopment AuthorityUS Bank0.001,465,434.381,465,434.380.002008 Eddy Street CommonsDebt Service Reserve FundRedevelopment AuthorityUS Bank59.830.130.0059.962008 Eddy Street CommonsExcess FundRedevelopment AuthorityUS Bank0.240.000.000.242011 Century Center RefundingSinking FundRedevelopment AuthorityUS Bank52.62491,160.90245,552.62245,660.902011 Century Center RefundingOperating & Reserve FundRedevelopment AuthorityUS Bank14,609.68209.190.0014,818.872011 Century Center RefundingReserve FundRedevelopment AuthorityUS Bank298,100.85637.88151.52298,587.212011 Hall of Fame RefundingSinking FundRedevelopment AuthorityUS Bank8.051,271,023.58636,008.05635,023.582011 Hall of Fame RefundingOperations & ReserveRedevelopment AuthorityUS Bank16,308.643,085.640.0019,394.282013 Century Center RefundingOperation & ReserveRedevelopment AuthorityUS Bank166,551.65110.94144,205.7122,456.882013 Century Center Refunding Sinking FundRedevelopment AuthorityUS Bank0.55341,725.18341,706.2519.482013 Century Center Refunding Reserve FundRedevelopment AuthorityUS Bank0.000.000.000.002015 Eddy Street Commons RefundingEscrow FundRedevelopment AuthorityUS Bank0.000.000.000.002015 Eddy Street Commons RefundingSinking FundRedevelopment AuthorityUS Bank4,812.982,474,166.551,235,426.311,243,553.222015 Eddy Street Commons RefundingOperations & ReserveRedevelopment AuthorityUS Bank0.000.000.000.002015 Smart Streets BondSinking FundRedevelopment AuthorityUS Bank77.82395,012.97394,784.38306.412015 Smart Streets BondOperating & ReserveRedevelopment AuthorityUS Bank0.000.000.000.002015 Smart Streets BondReserve FundRedevelopment AuthorityUS Bank1,711,187.22868.84306.261,711,749.802015 Smart Streets BondConstruction FundRedevelopment AuthorityUS Bank19,053,535.949,435.663,769,489.8315,293,481.772015 Smart Streets BondBond Interest AccountRedevelopment AuthorityUS Bank1,184,521.91438.63394,706.56790,253.982009 Morris PAC Refunding Debt Service Reserve FundRedevelopment AuthorityWells Fargo721,004.2735.9528.36721,011.862009 Morris PAC Refunding Operations & ReserveRedevelopment AuthorityWells Fargo12,218.371,335.472,750.0010,803.842009 Morris PAC Refunding Sinking FundRedevelopment AuthorityWells Fargo0.291,048,500.57521,500.29527,000.57Total Redevelopment Authority 23,744,165.517,992,687.079,517,885.5222,218,967.06 Totals 33,349,971.6418,353,260.9315,991,322.8935,711,909.68 Administration Finance 8/29/2016 Page 3 Entity Cash Balance Percent Building Corporation 1,970,646$ 5.52% City of South Bend 11,522,296 32.26% Redevelopment Authority 22,218,967 62.22% Total 35,711,909$ 100.00% City of South Bend includes the 2015 Parks/EDIT bond capital fund with a balance of $4.8 million dollars remaining in the fund at July 31, 2016. Redevelopment Authority includes the 2015 Smart Streets bond capital fund with a balance of $15.3 million dollars remaining in the fund at July 31, 2016. Building Corporation City of South Bend Redevelopment Authority Trustee Cash Balances -July 31, 2016 Administration Finance 8/29/2016 Page 4