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Home My WebLink About73-16 Establishing New Funds120ON COUNTY -CITY BUILDING 227 W. JEFFERSON BLVD. SOUTH BEND, INDIANA 46601 -1830 CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR PHONE 574/ 235 -7678 FAX 574/ 235 -9928 DEPARTMENT OF ADMINISTRATION AND FINANCE November 22, 2016 Mr. Tim Scott President, South Bend Common Council 4th Floor, County -City Building 227 W. Jefferson Blvd. South Bend, IN 46601 Re: Ordinance Establishing New Funds for the City of South Bend Dear Council President Scott: During the preparation and adoption of the 2017 City budget, the need has arisen to add or amend eleven (11) funds to properly account for revenue and expenditures of the City of South Bend. Nine of the new funds relate to the incorporation of trustee accounting activity into the City's regular accounting system, one new fund is required by the State of Indiana to account for the INDOT Community Crossings grant program and the name of Fund 279 is being changed from the 311 Call Center Fund to the IT /Innovation /311 Call Center Fund to reflect the new purpose of the fund. This bill is respectively submitted for 1 st reading with the Common Council for the council meeting scheduled for November 28, 2016 and 2nd reading, public hearing, and 3rd reading at the council meeting on December 12, 2016. I will be available to discuss this bill at the appropriate sessions of the Personnel and Finance Committee and other meetings of the South Bend Common Council. Respectfully submitted, Joh . Murphy City Controller Filed in Clerk's Office KAREEMAH FOWLER CITY CLERK, SOUTH BEND, IN Excellence I Accountability I Innovation I Inclusion I Empowerment ORDINANCE NO. AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AMENDING CHAPTER 2, ARTICLE 14 OF THE SOUTH BEND MUNICIPAL CODE TO ESTABLISH VARIOUS NEW FUNDS: LOCAL ROAD AND BRIDGE MATCHING GRANT FUND (265), EQUIPMENT/VEHICLE LEASING FUND (750), PARKS BOND CAPITAL FUND (751), SOUTH BEND REDEVELOPMENT AUTHORITY FUND (752), SMART STREETS BOND CAPITAL FUND (753), INDUSTRIAL REVOLVING FUND (754), SOUTH BEND BUILDING CORPORATION FUND (755), SMART STREETS DEBT SERVICE FUND (756), PARKS BOND DEBT SERVICE FUND (757), THE ERSKINE VILLAGE DEBT SERVICE FUND (758), AND CHANGING THE NAME OF FUND 279 TO THE ITANNOVATION /311 CALL CENTER FUND STATEMENT OF PURPOSE AND INTENT During the preparation and adoption of the 2017 City Budget, the need has arisen to add or amend eleven (11) Funds to properly account for revenue and expenditures of the City of South Bend. Nine (9) new Funds are being added to account for trustee transactions that will be incorporated into the City's formal accounting software and budgeting process for greater efficiency and transparency. In prior years, these trustee accounts were maintained on Excel spreadsheets separate from the City's formal accounting system but have been subject to audit and have been included in the City's Comprehensive Annual Financial Report (CAFR). These Funds consists of Fund Numbers 750 to 758 and will be effective January 1, 2017. In addition, the State Board of Accounts has directed that grant monies in connection with the Communication Crossings Matching Grant should be accounted for in a separate Fund No. 265 — Local Road and Bridge Matching Grant Fund. This new Fund will be effective December 12, 2016. Finally, in connection with the recent reorganization and addition of the Innovation and Technology Department to the list of City Executive Departments (Ordinance No. 10477 -16, adopted October 10, 2016), the City has expanded the scope of Fund 279 — 311 Call Center Fund. Therefore, the name of the fund will be changed to Fund 279 - IT /Innovation/311 Call Center Fund effective January 1, 2017. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: SECTION I. Effective January 1, 2017, the following funds are established, and Chapter 2, Article 14, of the South Bend Municipal Code is hereby amended to add new sections which shall read in their entirety as follows: Section 2-170.17. EquipmentNehicle Leasing Fund. The EquipmentNehicle Leasing Fund o 750) is established to account for the issuance of capital lease debt obligations and the lease purchase of computers, vehicles and other equipment. Section 2- 170.18. Parks Bond Capital Fund. The Parks Bond and Capital Fund (No. 75 1) is established to account for the issuance of bonds proceeds to be used for park repairs and improvements. Section 2- 170.19. South Bend Redevelopment Authority Fund. The South Bend Redevelopment Authority Fund (No. 752) is established to account for lease rental payments from the City and the payment of debt service to bondholders through trust agreements and financial institutions. Section 2- 170.20. Smart Streets Bond Capital Fund. The Smart Streets Bond Capital Fund (No. 753) is established to account for capital expenditures in connection with the conversion of one -way streets to two -way streets in the downtown area. Funding is provided by proceeds from a Redevelopment Authority bond. Section 2- 170.21. Industrial Revolving Fund. The Industrial Revolving Fund (No. 754) is established to account for revenue and expenditures in providing_ loans to qualifying local companies. Financing was originally provided by an Economic Adjustment Assistance Grant from the U.S. Department of Commerce. Section 2- 170.22. South Bend Building Corporation Fund. The South Bend Building Corporation (Fund No.755) is established to account for debt retirement of the Building Corporation's mortgage Bonds. Funding provided by transfers from City funds. Section 2- 170.23. Smart Streets Debt Service Fund. The Smart Streets Debt Service Fund (No. 756) is established to account for debt retirement of the 2015 Redevelopment Authority bonds for conversion of one -way streets to two -way streets in the downtown area. Funding is provided by transfers from the River West Tax Increment Financing Fund. Section 2- 170.24. Parks Bond Debt Service Fund. The Parks Bond Debt Service Fund (No. 757) is established to account for debt retirement of the 2015 Building Corporation/EDIT bond for parks improvements. Funding is provided by transfers from other City funds. Section 2- 170.25 Erskine Village Debt Service Fund. The Erskine Village Debt Service Fund (No. 758) is established to account for Erskine Village project debt retirement of the South Side Tax Increment Financing (TIF) District. Funding is provided by transfers from the TIF South Side Development Fund. SECTION II. Chapter 2, Article 14 of the South Bend Municipal Code shall be amended to add a new section which shall take effect December 12, 2016, and which shall read in its entirety as follows: Section 2- 170.26. Local Road and Bridte Matchinjj Grant Fund No 265. The Local Road and Bridge Matching Grant Fund (No 265) is established to account for receipt of Community Crossing state tate grant and matching revenue and for the payment of expenditures on eligible projects. SECTION III. Chapter 2, Article 14, Section 2- 170.16 of the South Bend Municipal Code shall be amended to change the Fund name and which shall read in its entirety as follows: 2- 170.16. T/Innovation/ 311 Call Center Fund. Eff,eetive jan,,ary 1, 201 ti +The T /Innovation/ 311 Call Center Fund (No.279) is established to receive allocations and fees from various City departments to be used to defray the expenses of the City of South Bend Innovation and Technology Department. pro +„ foes fr„r, var-iou de ta++ enis to be used to defray the e:e„s°s o f the GiVy of South Lo.. 3 1 1 Call Center-. SECTION IV. Except for Section II, which shall be retroactive to December 12, 2016, this ordinance shall be in full force and effect from and after its passage by the Common Council and approval by the Mayor. Member, South Bend Common Council Attest: City Clerk Presented by me to the Mayor of the City of South Bend, Indiana on the day of 2 , at o'clock m. City Clerk Approved and signed by me on the at o'clock, .m. t st READING PUBLIC NEARING 3 rd READING NOT APPROVED REFERRED o'ASSED day of 2 , Mayor, City of South Bend, Indiana Filed in Clerk's Office !NW 2 � -2016 KAREENIAH F(.) ILER CITY CLERK, ;'< . ° °i` e; BEND, IN