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Home My WebLink About08-2016 Controller's Trustee Cash ReportPeriod Ending:August 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 Deputy Chief of Staff Suzanna Fritzberg Common Council Department Heads Fiscal Officers Controller John Murphy Deputy Controller Jennifer Hockenhull City Finance Director Rahman Johnson Senior 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 9/19/2016 Page 2 BeginningYTDYTDEndingNamePurposeEntityTrusteeCashReceiptsDisbursementsCash 2012 Police/Fire Building RefundingSinking FundBuilding CorporationUS Bank16.381,572,152.951,572,107.5761.762012 Police/Fire Building RefundingOperating & RepairBuilding CorporationUS Bank18,339.786,582.100.0024,921.882012 Police/Fire Building RefundingReserve FundBuilding CorporationUS Bank3,877.306.610.003,883.912013 EMS Revenue BondSinking FundBuilding CorporationUS Bank1.91517,992.93517,987.037.812013 EMS Revenue BondOperating & ReserveBuilding CorporationUS Bank112,244.84113,844.59108,475.59117,613.842013 EMS Revenue BondReserve FundBuilding CorporationUS Bank0.000.000.000.002013 EMS Revenue BondConstruction FundBuilding CorporationUS Bank115.980.070.00116.052013 EMS Revenue BondBond Interest AccountBuilding CorporationUS Bank0.000.000.000.002010 BPW Building RefundingDebt Service Reserve FundBuilding CorporationWells Fargo607,500.0035.4530.62607,504.832010 BPW Building RefundingSinking FundBuilding CorporationWells Fargo20.30676,535.80676,556.100.002010 BPW Building Refunding Operating & ReserveBuilding CorporationWells Fargo9,028.613,331.132,514.009,845.74Total Building Corporation 751,145.102,890,481.632,877,670.91763,955.822015 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 Bank158,367.59253,557.97380,105.1531,820.412015 Parks/EDIT BondDebt Service Reserve FundCity of South BendUS Bank397,313.00233.990.00397,546.992015 Parks/EDIT BondConstruction FundCity of South BendUS Bank4,995,003.882,930.69252,700.524,745,234.052015 PNC BankVehicle/Equipment LeaseCity of South BendUS Bank1,225,502.36529.20645,384.00580,647.562016 PNC Equipment Finance Vehicle/Equipment LeaseCity of South BendUS Bank0.004,072,047.49245,201.003,826,846.492016 Public-Finance.comVehicle/Equipment LeaseCity of South BendUS Bank0.003,340,797.422,603,547.60737,249.82Total City of South Bend 8,854,661.037,670,096.766,166,923.3010,357,834.492005 Erskine Village Bonds Reserve FundRedevelopment AuthorityWells Fargo561,112.832.120.00561,114.952005 Erskine Village BondsPrincipal & InterestRedevelopment AuthorityWells Fargo1.77489,502.51489,502.501.782008 Eddy Street Commons Sinking FundRedevelopment AuthorityUS Bank0.001,465,434.381,465,434.380.002008 Eddy Street CommonsDebt Service Reserve FundRedevelopment AuthorityUS Bank59.830.150.0059.982008 Eddy Street CommonsExcess FundRedevelopment AuthorityUS Bank0.240.000.000.242011 Century Center RefundingSinking FundRedevelopment AuthorityUS Bank52.62491,759.12491,213.52598.222011 Century Center RefundingOperating & Reserve FundRedevelopment AuthorityUS Bank14,609.683,374.720.0017,984.402011 Century Center RefundingReserve FundRedevelopment AuthorityUS Bank298,100.85731.22738.73298,093.342011 Hall of Fame RefundingSinking FundRedevelopment AuthorityUS Bank8.051,271,093.371,271,073.0528.372011 Hall of Fame RefundingOperations & ReserveRedevelopment AuthorityUS Bank16,308.643,091.7041.4219,358.922013 Century Center RefundingOperation & ReserveRedevelopment AuthorityUS Bank166,551.65115.47144,205.7122,461.412013 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 Bank4,812.982,474,167.842,470,929.448,051.382015 Eddy Street Commons RefundingOperations & ReserveRedevelopment AuthorityUS Bank0.000.000.000.002015 Smart Streets BondSinking FundRedevelopment AuthorityUS Bank77.82790,503.43789,568.761,012.492015 Smart Streets BondOperating & ReserveRedevelopment AuthorityUS Bank0.000.000.000.002015 Smart Streets BondReserve FundRedevelopment AuthorityUS Bank1,711,187.221,013.821,012.311,711,188.732015 Smart Streets BondConstruction FundRedevelopment AuthorityUS Bank19,053,535.9410,778.095,102,859.3913,961,454.642015 Smart Streets BondBond Interest AccountRedevelopment AuthorityUS Bank1,184,521.91505.56789,490.94395,536.532009 Morris PAC Refunding Debt Service Reserve FundRedevelopment AuthorityWells Fargo721,004.2742.0734.48721,011.862009 Morris PAC Refunding Operations & ReserveRedevelopment AuthorityWells Fargo12,218.372,942.972,750.0012,411.342009 Morris PAC Refunding Sinking FundRedevelopment AuthorityWells Fargo0.291,048,501.291,048,501.580.00Total Redevelopment Authority 23,744,165.518,395,285.0114,409,062.4617,730,388.06 Totals 33,349,971.6418,955,863.4023,453,656.6728,852,178.37 January 1, 2016 - August 31, 2016Trustee Cash Summary City of South Bend, Indiana Administration Finance9/19/2016Page 3 Entity Cash Balance Percent Building Corporation 763,956$ 2.65% City of South Bend 10,357,834 35.90% Redevelopment Authority 17,730,388 61.45% Total 28,852,178$ 100.00% City of South Bend includes the 2015 Parks/EDIT bond capital fund with a balance of $4.7 million dollars remaining in the fund at August 31, 2016. Redevelopment Authority includes the 2015 Smart Streets bond capital fund with a balance of $13.9 million dollars remaining in the fund at August 31, 2016. Building Corporation City of South Bend Redevelopment Authority Trustee Cash Balances -August 31, 2016 Administration Finance 9/19/2016 Page 4