HomeMy WebLinkAbout2016 Key Fund Financial SummaryCity of South Bend, Indiana
Selected Key Fund Financial Summary
December 31, 2016 - 2015
12/31/2016 Cash Reserves
Fund 2015 Surplus/2016 Surplus/Net Cash Percentage Target
Name No.(Loss)(Loss)Reserves of Expenditures (% expenditures)
Fund
General Fund 101 1,731,397 3,992,243 32,989,883 62.86%35.00%
Rainy Day Fund 102 49,919 1,492,266 10,166,491 --3% of budget
Parks & Recreation Fund 201 418,800 571,401 4,413,583 40.95%25.00%
Liability Insurance Fund 226 (1,154,869)82,090 4,569,210 208.09%50.00%
Health Insurance Fund 711 312,080 2,361,748 6,711,696 42.40%25.00%
Total 1,357,327 8,499,748 58,850,863
Notes
Higher property tax and Morris Performing Arts Center revenue in the General Fund during 2016.
A special LOIT distribution of $1,492,266 was received in the Rainy Day Fund during 2016.
Higher property tax and PILOT revenue in the Parks & Recreation Fund during 2016.
No allocation to Police, Fire, and Parks in 2015; a 50% allocation was charged to Police and Fire during 2016 in the
Liability Insurance Fund.
Health Insurance employer contributions increased by 18% during 2016. Claims paid (net of stop loss reimbursements)
increased by 2.05% during 2016.
Net cash reserves are equal to total cash balances net of outstanding encumbrances at year-end.
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
General Fund Rainy Day Fund Parks & Recreation
Fund
Liability Insurance Fund Health Insurance Fund
2016 Net Surplus/Income
Administration/Finance 1/26/2017 Page 1
City of South Bend, Indiana
General Fund 101 - Revenue and Expenditures - Cash Basis
December 31, 2016 - 2015
12/31/2015 12/31/2016 Amount Percentage
Name Actual Actual Change Change
Revenue
Property Taxes 37,349,388 39,362,139 2,012,751 5.39%
Auto Excise Tax 2,564,703 2,652,855 88,152 3.44%
Commercial Vehicle Excise Tax 758,554 675,904 (82,650)-10.90%
State Riverboat Gaming Revenue 599,027 599,005 (22)0.00%
PILOT 4,282,212 4,620,384 338,172 7.90%
Interest Earnings 106,341 227,436 121,095 113.87%
Cable Television 1,005,549 1,006,177 628 0.06%
Notre Dame Contribution 330,000 330,000 0 0.00%
Administrative Fee Allocation 3,642,955 3,824,590 181,635 4.99%
311 Call Center Allocation (1)464,072 0 (464,072)-100.00%
Morris Performing Arts Center 779,187 1,425,641 646,454 82.97%
Palais Royal Ballroom 304,922 326,684 21,762 7.14%
Other Revenue 1,532,702 1,423,704 (108,998)-7.11%
Total Revenue 53,719,612 56,474,519 2,754,907 5.13%
Expenditures
Mayor's Office 735,185 679,425 (55,760)-7.58%
311 Call Center (1)464,072 3,811 (460,261)-99.18%
City Clerk 367,924 375,008 7,084 1.93%
Common Council 443,552 481,079 37,527 8.46%
WNIT Contract 43,000 43,000 0 0.00%
Administration & Finance (3)1,813,200 1,988,017 174,817 9.64%
Morris Performing Arts Center 1,005,105 993,019 (12,086)-1.20%
Palais Royal Ballroom 432,523 427,467 (5,056)-1.17%
Legal Department 944,504 976,457 31,953 3.38%
Engineering 936,641 1,015,088 78,447 8.38%
Police Department 25,106,273 24,901,730 (204,543)-0.81%
PSAP (2)1,681,568 1,479,012 (202,556)-12.05%
Fire Department 17,642,924 18,567,503 924,579 5.24%
Human Rights 371,744 349,157 (22,587)-6.08%
Code Enforcement (4)0 202,504 202,504 100.00%
Total Expenditures 51,988,215 52,482,277 494,062 0.95%
Net Surplus 1,731,397 3,992,243
Beginning Cash Balance 28,684,573 30,486,009
Balance Sheet Adjustments 70,039 (108,333)
Ending Cash Balance 30,486,009 34,369,919
Outstanding Encumbrances (466,088)(1,380,036)
Ending Cash net of Encumbrances 30,019,921 32,989,883
Net Cash Balance Percentage of Expenditures 57.74%62.86%
City General Fund Cash Resrves Target 35.00%35.00%
National League of City Fund Balance Average 21.70%not available
(1) The 311 Call Center was established in new Fund 279 during 2016.
(2) PSAP costs in 2015 include salaries/benefits of $138,008 and county allocation of $1,543,560.
(3) Administration & Finance includes a full-time Diversity Inclusion Officer and HR Generalist (Public Safety)
for 2016.
(4) A transfer was made from Code Enforcement revenue to the new Unsafe Building Fund during 2016.
Administration/Finance 1/26/2017 Page 2
City of South Bend, Indiana
Rainy Day Fund 102 Revenue and Expenditures - Cash Basis
December 31, 2016 - 2015
12/31/2015 12/31/2016 Amount Percentage
Name Actual Actual Change Change
Revenue
Local Income Tax Distribution (1)0 1,405,850 1,405,850 100.00%
Interest Earnings 49,919 86,416 36,497 73.11%
Total Revenue 49,919 1,492,266 1,442,347 2889.37%
Expenditures
Expenditures 0 0 0 0.00%
Total Expenditures 0 0 0 0.00%
Net Surplus 49,919 1,492,266
Beginning Cash Balance 8,632,917 8,678,882
Balance Sheet Adjustments (3,954)(4,657)
Ending Cash Balance 8,678,882 10,166,491
Outstanding Encumbrances 0 0
Ending Cash net of Encumbrances 8,678,882 10,166,491
Rainy Day Fund Cash Resrves Target 10,883,738 10,883,738
(3% of total expenditures - 2017 budget)
(1) 25% of Special LOIT Distribution authorized by the State of Indiana per SEA No. 67. Received May 6, 2016.
Administration/Finance 1/26/2017 Page 3
City of South Bend, Indiana
Parks & Recreation Fund 201 - Revenue and Expenditures - Cash Basis
December 31, 2016 - 2015
12/31/2015 12/31/2016 Amount Percentage
Name Actual Actual Change Change
Revenue
Property Taxes 7,487,554 7,902,995 415,441 5.55%
Auto Excise Tax 514,154 531,810 17,656 3.43%
Commercial Vehicle Excise Tax 152,070 135,496 (16,574)-10.90%
PILOT 884,835 926,268 41,433 4.68%
Interest Earnings 8,547 23,779 15,232 178.21%
Stadium Lease 75,000 75,000 0 0.00%
Site Mowing 158,494 139,068 (19,426)-12.26%
Golf Courses 1,369,922 1,284,922 (85,000)-6.20%
Recreation Fees 136,781 129,878 (6,903)-5.05%
Graffiti Removal 92,089 61,843 (30,246)-32.84%
Other Revenue 152,493 139,220 (13,273)-8.70%
Total Revenue 11,031,939 11,350,279 318,340 2.89%
Expenditures
Administration 981,506 1,079,849 98,343 10.02%
Park Maintenance 5,021,525 5,139,306 117,781 2.35%
Golf Courses 1,515,462 1,468,473 (46,989)-3.10%
Recreation 2,126,269 2,155,807 29,538 1.39%
Potawatomi Zoo 819,984 801,960 (18,024)-2.20%
Potawatomi Greenhouse 44,739 35,913 (8,826)-19.73%
Graffiti Removal 103,654 97,570 (6,084)-5.87%
Other Expenditures 0 0 0 100.00%
Total Expenditures 10,613,139 10,778,878 165,739 1.56%
Net Surplus 418,800 571,401
Beginning Cash Balance 3,494,861 3,913,925
Balance Sheet Adjustments 264 5,115
Ending Cash Balance 3,913,925 4,490,441
Outstanding Encumbrances (70,755)(76,858)
Ending Cash net of Encumbrances 3,843,170 4,413,583
Net Cash Balance Percentage of Expenditures 36.21%40.95%
Parks & Recreation Fund Cash Resrves Target 25.00%25.00%
Administration/Finance 1/26/2017 Page 4
City of South Bend, Indiana
Liability Insurance Fund 226 Revenue and Expenditures - Cash Basis
December 31, 2016 - 2015
12/31/2015 12/31/2016 Amount Percentage
Name Actual Actual Change Change
Revenue
Departmental Allocations (1)1,222,767 2,221,491 998,724 81.68%
Interest Earnings 29,150 42,151 13,001 44.60%
Worker Compensation Reimbursements 92,199 14,187 (78,012)-84.61%
Other Revenue 3,050 0 (3,050)-100.00%
Total Revenue 1,347,166 2,277,829 930,663 69.08%
Expenditures
Safety & Risk Management 224,233 202,965 (21,268)-9.48%
Liability Insurance and Claims 761,403 801,630 40,227 5.28%
Business Insurance 594,368 477,669 (116,699)-19.63%
Worker's Compensation 922,031 713,475 (208,556)-22.62%
Total Expenditures 2,502,035 2,195,739 (306,296)-12.24%
Net Surplus/(Loss)(1,154,869)82,090
Beginning Cash Balance 5,683,353 4,532,060
Balance Sheet Adjustments 3,576 (14,945)
Ending Cash Balance 4,532,060 4,599,205
Outstanding Encumbrances (46,156)(29,995)
Ending Cash net of Encumbrances 4,485,904 4,569,210
Net Cash Balance Percentage of Expenditures 179.29%208.09%
Liability Insurance Fund Cash Resrves Target 50.00%50.00%
(1) Police, Fire, and Parks budgets charged allocation waived for 2015 and a Police and Fire charged 50% allocation
for 2016.
Administration/Finance 1/26/2017 Page 5
City of South Bend, Indiana
Health Insurance Fund 711 Revenue and Expenditures - Cash Basis
December 31, 2016 - 2015
12/31/2015 12/31/2016 Amount Percentage
Name Actual Actual Change Change
Revenue
Employee Contributions 2,645,116 2,855,414 210,298 7.95%
Employer Contributions 11,590,466 13,697,037 2,106,571 18.18%
Stop Loss Refunds 109,133 1,585,602 1,476,469 1352.91%
Interest Earnings 28,482 49,659 21,177 74.35%
Other Revenue 6,316 4,495 (1,821)-28.83%
Total Revenue 14,379,513 18,192,207 3,812,694 26.51%
Expenditures
Wellness Programs 41,113 33,892 (7,221)-17.56%
Administration Fee Allocation (2)431,763 0 (431,763)-100.00%
Health Insurance Costs & Claims 13,594,557 14,564,786 970,229 7.14%
Clinic Costs (1)0 1,231,781 1,231,781 100.00%
Total Expenditures 14,067,433 15,830,459 1,763,026 12.53%
Total Expenditures net of Stop Loss Refunds 13,958,300 14,244,857 286,557 2.05%
Net Surplus 312,080 2,361,748
Beginning Cash Balance 4,059,314 4,374,721
Balance Sheet Adjustments 3,327 (17,423)
Ending Cash Balance 4,374,721 6,719,046
Outstanding Encumbrances (44,959)(7,350)
Ending Cash net of Encumbrances 4,329,762 6,711,696
Net Cash Balance Percentage of Expenditures 30.78%42.40%
Health Insurance Fund Cash Resrves Target 25.00%25.00%
(1) The Ativate Health and Welness Center opened in January 2016.
(2) The Administration fee allocation was discontinued for 2016.
Administration/Finance 1/26/2017 Page 6