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Home My WebLink About2016 Redevelopment Authority & Building Corporation Report FinalCity of South Bend Redevelopment Authority and Building Corporation 2016 Financial Reports Prepared by - Department of Administration and Finance December 31, 2016 (Information obtained from the City of South Bend Comprehensive Annual Report (CAFR) for the year ended December 31, 2016) Table of Contents Page 2 Redevelopment Authority & Building Corporation Financial Statements 3 Redevelopment Authority Revenue & Expenditures Charts 4 Building Corporation Revenue & Expenditures Charts 5 - 21 Excerpts from the 2016 Comprehensive Annual Financial Report (CAFR) 5 - 9 Balance Sheet 10 - 17 Revenue, Expenditures, and Changes in Fund Balances 18 - 21 Budget and Actual 22 - 29 Supporting Schedules 1 College Football Redevelopment Redvelopment Redevelopment Redevelopment Smart Streets Smart StreetsTotal South BendHall of FameBondBondAuthority Authority BondBondRedvelopment Building CorporationDebt Service Airport Taxable Palais Royale Debt ServiceGeneralCapitalDebt ServiceAuthorityDebt ServiceBalance SheetAssets & Deferred Outflows Cash and cash equivalents80,272$ 231,260$ 386,398$ 1,232,769$ 1,882$ 5,929,453$ 2,108,440$ 9,970,474$ 567,788$ Restricted cash- - - - - - - - - Investments212,042 805,629 1,346,075 - 6,556 - - 2,370,302 - Accounts receivable- - - - - - - - - Interest receivable480 1,930 3,225 - 16 604 179 6,434 - Total assets & deferred outflows 292,794$ 1,038,819$ 1,735,698$ 1,232,769$ 8,454$ 5,930,057$ 2,108,619$ 12,347,210$ 567,788$ Liabilities & Deferred Inflows Accounts payable- - - - - 1,686,422 - 1,686,422 - Total liabilities & deferred inflows - - - - - 1,686,422 - 1,686,422 - Net 292,794$ 1,038,819$ 1,735,698$ 1,232,769$ 8,454$ 4,243,635$ 2,108,619$ 10,660,788$ 567,788$ Fund Balance Restricted292,794 1,038,819 1,735,698 1,232,769 - 4,243,635 2,108,619 10,652,334 567,788 Assigned- - - - 8,454 - - 8,454 - Total fund balance 292,794$ 1,038,819$ 1,735,698$ 1,232,769$ 8,454$ 4,243,635$ 2,108,619$ 10,660,788$ 567,788$ Income StatementRevenue Property taxes1,361,512$ -$ -$ -$ -$ -$ -$ 1,361,512$ -$ Intergovernmental70,548 - - - - - - 70,548 - Other- - - - - - - - - Interest earnings65 9,507 15,882 1,625 80 15,016 2,352 44,527 279 Total revenue 1,432,125 9,507 15,882 1,625 80 15,016 2,352 1,476,587 279 Expenditures Capital outlay - economic development- - - - 329 - - 329 - Capital outlay - highways and streets- - - - - 14,793,978 - 14,793,978 - Capital outlay - culture and recreation- - - - - - - - - Capital outlay - public safety- - - - - - - - - Debt service - principal 1,180,000 - - 3,120,000 - - - 4,300,000 1,691,120 Debt service - interest and fiscal charges88,029 - - 1,275,768 - - 790,759 2,154,556 468,372 Debt service - bond issuance costs- - - - - - - - - Total expenditures/expenses 1,268,029 - - 4,395,768 329 14,793,978 790,759 21,248,863 2,159,492 Net revenue less expenditures/expenses 164,096 9,507 15,882 (4,394,143) (249) (14,778,962) (788,407) (19,772,276) (2,159,213) Other financing/nonoperating items Transfers in112,116 - - 4,409,500 - - 1,190 4,522,806 2,165,291 Transfers out- (8,311) (13,886) - - (1,190) - (23,387) - Debt proceeds- - - - - - - - - Premium on refunding debt- - - - - - - - - Interest revenue- - - - - - - - - Interest expense- - - - - - - - - Amortization expense- - - - - - - - - Premium on debt issuance- - - - - - - - - Issuance of refunding bonds- - - - - - - - - Other Capital contributions- - - - - - - - - Gain (loss) on disposition of assets- - - - - - - - - Payment to refunded bond escrow agent- - - - - - - - - Total other financing/nonoperating items 112,116 (8,311) (13,886) 4,409,500 - (1,190) 1,190 4,499,419 2,165,291 Net changes in fund balances 276,212 1,196 1,996 15,357 (249) (14,780,152) (787,217) (15,272,857) 6,078 Fund balance - beginning 16,582 1,037,623 1,733,702 1,217,412 8,703 19,023,787 2,895,836 25,933,645 561,710 Fund balance - ending 292,794$ 1,038,819$ 1,735,698$ 1,232,769$ 8,454$ 4,243,635$ 2,108,619$ 10,660,788$ 567,788$ The Redevelopment Authority and Building Corporation are presented as blended component units in the City of South Bend 2016 Comprehensive Annual Financial Report.City of South Bend, IndianaRedevelopment Authority and Building Corporation Financial StatementsDecember 31, 2016City of South Bend Redevelopment Authority2 Revenue Amount Percent Transfers in 4,522,806$ 75.4% Property taxes 1,361,512 22.7% Intergovernmental 70,548 1.2% Interest earnings 44,527 0.7% Total Revenue 5,999,393$ 100.0% Expenditures Amount Percent Capital outlay - highways & streets 14,793,978$ 69.5% Debt service - principal 4,300,000 20.2% Debt service - interest and fiscal charges 2,154,556 10.2% Transfers out 23,387 0.1% Capital outlay - economic development 329 0.0% Total Expenditures 21,272,250$ 100.0% City of South Bend, Indiana Redevelopment Authority Expenditures - 2016 Redevelopment Authority Revenue - 2016 75.4% Transfers in 22.7% Property taxes 1.2% Intergovernmental 0.7% Interest earnings 69.5% Capital outlay - highways & streets 20.2% Debt service - principal 10.2% Debt service - interest and fiscal charges 0.1% Transfers out 0.0% Capital outlay - economic development 3 Revenue Amount Percent Transfers in 2,165,291$ 100.0% Interest earnings 279 0.0% Total Revenue 2,165,570$ 100.0% Expenditures Amount Percent Debt service - principal 1,691,120$ 78.3% Debt service - interest and fiscal charges 468,372 21.7% Total Expenditures 2,159,492$ 100.0% City of South Bend, Indiana Building Corporation Revenue - 2016 Building Corporation Expenditures - 2016 Transfers in 100.0% Interest earnings 0.0% Debt service - principal 78.3% Debt service - interest and fiscal charges 21.7% 4 Excerpts from the 2016 Comprehensive Annual Financial Report (CAFR) City of South Bend, Indiana Special Revenue Funds Federal Drug Enforcement Gift Urban Development Action Grant Leaf Collection and Removal Police K-9 Unit Assets Cash and cash equivalents $ 226,058 $ 25,999 $ 131,910 $ 194,389 $ 636 Investments -90,570 459,527 677,184 2,217 Receivables: Taxes ----- Accounts -25,035 -37,220 - Interest 149 216 1,101 1,621 5 Intergovernmental ----- Loans --543,909 -- Due from other funds ----- Advances to other funds ----- Property held for resale ----- Total assets $ 226,207 $ 141,820 $ 1,136,447 $ 910,414 $ 2,858 Liabilities Accounts payable $-$ 72,900 $-$-$- Due to other funds ----- Advances from other funds --1,351,598 -- Performance deposits payable ----- Accrued liabilities and other - Accrued payroll payable ----- Other current payables ----- Total liabilities -72,900 1,351,598 -- Fund Balances Nonspendable --416,655 -- Restricted 226,207 68,920 --- Committed ----- Assigned ---910,414 2,858 Unassigned --(631,806)-- Total fund balances 226,207 68,920 (215,151)910,414 2,858 Total liabilities and fund balances $ 226,207 $ 141,820 $ 1,136,447 $ 910,414 $ 2,858 2016 CAFR, Pg 140 5 Other Supplemental Information Combining Balance Sheet (Continued) Nonmajor Governmental Funds December 31, 2016 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 South Bend Building Corporation Debt Service $-$ 2,405,340 $ 11,159,532 $ 80,272 $ 231,260 $ 114,096 $ 386,398 $ 567,788 -233,866 13,433,554 212,042 805,629 397,471 1,346,075 - -------- --171,433 ----- --31,663 480 1,930 952 3,225 - --805,671 ----- -4,059,177 5,135,496 ----- --30,048 ----- --400,000 ----- -97,800 3,253,253 ----- $-$6,796,183 $34,420,650 $ 292,794 $ 1,038,819 $ 512,519 $ 1,735,698 $ 567,788 $-$-$ 1,224,633 $-$-$-$-$- --57,246 ----- --1,351,598 ----- --2,500 ----- --119,847 ----- --3,659 ----- --2,759,483 ----- -3,263,958 7,654,141 ----- -3,532,225 20,944,615 292,794 1,038,819 512,519 1,735,698 567,788 --1,492,708 ----- --2,387,664 ----- --(817,961)----- -6,796,183 31,661,167 292,794 1,038,819 512,519 1,735,698 567,788 $-$6,796,183 $34,420,650 $ 292,794 $ 1,038,819 $ 512,519 $ 1,735,698 $ 567,788 2016 CAFR, Pg 141 6 City of South Bend, Indiana Debt Service Funds TIF Erskine Village Debt Service Smart Streets Debt Service Parks Bond Debt Service Fund Century Center Energy Conservation Debt Service Redevelopment Authority Debt Service Assets Cash and cash equivalents $ 561,117 $ 2,108,440 $ 561,943 $ 51,659 $ 1,232,769 Investments ---5,493 - Receivables: Taxes ----- Accounts ----- Interest -179 -12 - Intergovernmental ----- Loans ----- Due from other funds ----- Advances to other funds ----- Property held for resale ----- Total assets $ 561,117 $ 2,108,619 $ 561,943 $ 57,164 $ 1,232,769 Liabilities Accounts payable $-$-$-$ 111 $- Due to other funds ----- Advances from other funds ----- Performance deposits payable ----- Accrued liabilities and other - Accrued payroll payable ----- Other current payables ----- Total liabilities ---111 - Fund Balances Nonspendable ----- Restricted 561,117 2,108,619 561,943 57,053 1,232,769 Committed ----- Assigned ----- Unassigned ----- Total fund balances 561,117 2,108,619 561,943 57,053 1,232,769 Total liabilities and fund balances $ 561,117 $ 2,108,619 $ 561,943 $ 57,164 $ 1,232,769 2016 CAFR, Pg 142 7 City of South Bend, Indiana Capital Projects Funds TIF Leighton Plaza TIF - West Washington Redevelopment General Community Revitalization Enhancement District TIF No. 1 - Southside Development Assets Cash and cash equivalents $ 62,681 $ 436,612 $ 1,882 $-$ 1,029,021 Investments 129,038 1,521,003 6,556 -3,584,751 Receivables: Taxes -36,860 --- Accounts 2,192 ---- Interest 309 3,633 16 -8,522 Intergovernmental ----- Loans ----- Due from other funds ----- Advances to other funds ----- Property held for resale -436,690 --- Total assets $ 194,220 $ 2,434,798 $ 8,454 $-$ 4,622,294 Liabilities Accounts payable $ 6,112 $-$-$-$ 296,774 Due to other funds ----- Advances from other funds ----- Performance deposits payable 4,996 ---- Accrued liabilities and other - Accrued payroll payable ----- Other current payables ----- Total liabilities 11,108 ---296,774 Fund Balances Nonspendable -436,690 --- Restricted 183,112 1,998,108 --4,325,520 Committed ----- Assigned --8,454 -- Unassigned ----- Total fund balances 183,112 2,434,798 8,454 -4,325,520 Total liabilities and fund balances $ 194,220 $ 2,434,798 $ 8,454 $-$ 4,622,294 2016 CAFR, Pg 144 8 City of South Bend, Indiana Capital Projects Funds Airport Urban Enterprise Zone Equipment Leasing Century Center Energy Conservation Bond Smart Streets Bond Capital Projects Fund Parks Bond Capital Projects Fund Assets Cash and cash equivalents $ 85,293 $ 2,109,805 $-$ 5,929,453 $ 4,337,199 Investments 297,130 ---- Receivables: Taxes ----- Accounts ----- Interest 712 --604 - Intergovernmental ----- Loans ----- Due from other funds ----- Advances to other funds ----- Property held for resale ----- Total assets $ 383,135 $ 2,109,805 $-$ 5,930,057 $ 4,337,199 Liabilities Accounts payable $-$ 168,611 $-$ 1,686,422 $ 274,171 Due to other funds ----- Advances from other funds ----- Performance deposits payable ----- Accrued liabilities and other - Accrued payroll payable ----- Other current payables ----- Total liabilities -168,611 -1,686,422 274,171 Fund Balances Nonspendable ----- Restricted -1,941,194 -4,243,635 4,063,028 Committed 383,135 ---- Assigned ----- Unassigned ----- Total fund balances 383,135 1,941,194 -4,243,635 4,063,028 Total liabilities and fund balances $ 383,135 $ 2,109,805 $-$ 5,930,057 $ 4,337,199 2016 CAFR, Pg 146 9 City of South Bend, Indiana Special Revenue Funds Regional Police Academy COPS MORE Grant Federal Drug Enforcement Gift Urban Development Action Grant Revenue Property taxes $ - $ - $ - $ - $ - Income taxes ----- Professional sports development taxes ----- Intergovernmental -167,187 --- Charges for services 19,700 ---- Fines and forfeitures ----- Investment income 745 1,182 1,453 710 4,759 Rental income ----- Other revenue -133,481 10,786 173,232 - Total revenue 20,445 301,850 12,239 173,942 4,759 Expenditures Current: General government ---169,900 - Public safety 16,448 206,227 53,414 -- Highways and streets ----- Community and economic development ----- Culture and recreation ----- Capital outlay ----- Debt service: Principal ----- Interest on long-term debt ----- Total expenditures 16,448 206,227 53,414 169,900 - Excess of Revenue Over (Under) Expenditures 3,997 95,623 (41,175) 4,042 4,759 Other Financing Sources (Uses) Issuance of debt ----- Proceeds from sale of capital assets - - 14,536 - - Transfers in ----- Transfers out ----- Total other financing sources (uses)--14,536 -- Net Change in Fund Balances 3,997 95,623 (26,639) 4,042 4,759 Fund Balances - Beginning of year 71,923 128,747 252,846 64,878 (219,910) Fund Balances - End of year $ 75,920 $ 224,370 $ 226,207 $ 68,920 $ (215,151) 2016 CAFR, Pg 152 10 Other Supplemental Information Combining Statement of Revenue, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds Year Ended December 31, 2016 Special Revenue Funds Debt Service Funds Leaf Collection and Removal Police K-9 Unit Excess Levy Industrial Revolving Fund Total College Football Hall of Fame Debt Service Redevelopment Bond - Airport Taxable $ - $ - $ - $ - $ - $ 1,361,512 $ - ----4,217,549 - - ------- ----10,943,323 70,548 - 440,649 - - 27,360 2,357,836 - - ----391,405 - - 7,843 33 8 160,912 331,763 65 9,507 ----7,387 - - ---4,614 804,341 -- 448,492 33 8 192,886 19,053,604 1,432,125 9,507 74,976 ---463,540 -- -1,044 -- 1,614,169 -- ----10,304,861 -- ---417,865 7,128,621 -- ----964,948 -- ------- 69,615 ---615,936 1,180,000 - 2,603 ---36,845 88,029 - 147,194 1,044 -417,865 21,128,920 1,268,029 - 301,298 (1,011)8 (224,979) (2,075,316) 164,096 9,507 ------- ----33,626 -- ----6,266,319 112,116 - (350,000)-(3,673)-(354,173)-(8,311) (350,000)-(3,673)-5,945,772 112,116 (8,311) (48,702) (1,011) (3,665) (224,979) 3,870,456 276,212 1,196 959,116 3,869 3,665 7,021,162 27,790,711 16,582 1,037,623 $ 910,414 $ 2,858 $-$ 6,796,183 $ 31,661,167 $ 292,794 $ 1,038,819 2016 CAFR, Pg 153 11 City of South Bend, Indiana Debt Service Funds Coveleski Bond Debt Service Reserve Redevelopment Bond - Palais Royale South Bend Building Corporation Debt Service TIF Erskine Village Debt Service Smart Streets Debt Service Revenue Property taxes $ - $ - $ - $ - $ - Income taxes ----- Professional sports development taxes ----- Intergovernmental ----- Charges for services ----- Fines and forfeitures ----- Investment income 4,666 15,882 279 2 2,352 Rental income ----- Other revenue ----- Total revenue 4,666 15,882 279 2 2,352 Expenditures Current: General government ----- Public safety ----- Highways and streets ----- Community and economic development ----- Culture and recreation ----- Capital outlay ----- Debt service: Principal -- 1,691,120 235,000 - Interest on long-term debt --468,372 254,503 790,759 Total expenditures --2,159,492 489,503 790,759 Excess of Revenue Over (Under) Expenditures 4,666 15,882 (2,159,213) (489,501) (788,407) Other Financing Sources (Uses) Issuance of debt ----- Proceeds from sale of capital assets ----- Transfers in - - 2,165,291 489,503 1,190 Transfers out -(13,886)--- Total other financing sources (uses)-(13,886)2,165,291 489,503 1,190 Net Change in Fund Balances 4,666 1,996 6,078 2 (787,217) Fund Balances - Beginning of year 507,853 1,733,702 561,710 561,115 2,895,836 Fund Balances - End of year $ 512,519 $ 1,735,698 $ 567,788 $ 561,117 $ 2,108,619 2016 CAFR, Pg 154 12 Other Supplemental Information Combining Statement of Revenue, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds Year Ended December 31, 2016 Debt Service Funds Capital Projects Funds Parks Bond Debt Service Fund Century Center Energy Conservation Debt Service Redevelopment Authority Debt Service Total Professional Sports Development Coveleski Stadium Capital Zoo Endowment $ - $ - $ - $ 1,361,512 $ - $ - $ - ------- ----673,787 - - - - - 70,548 - - - ------- ------- 574 163,588 1,625 198,540 2,592 670 454 ------- ----44,980 40,789 - 574 163,588 1,625 1,630,600 721,359 41,459 454 ------- ------- ------- -111 -111 --- ------- -----11,474 - 200,000 22,585 3,120,000 6,448,705 730,000 -- 180,105 213,547 1,275,768 3,271,083 108,050 -- 380,105 236,243 4,395,768 9,719,899 838,050 11,474 - (379,531) (72,655) (4,394,143) (8,089,299) (116,691) 29,985 454 ------- ------- 385,787 79,676 4,409,500 7,643,063 --- ---(22,197)--- 385,787 79,676 4,409,500 7,620,866 --- 6,256 7,021 15,357 (468,433) (116,691) 29,985 454 555,687 50,032 1,217,412 9,137,552 576,410 60,559 49,449 $ 561,943 $ 57,053 $ 1,232,769 $ 8,669,119 $ 459,719 $ 90,544 $ 49,903 2016 CAFR, Pg 155 13 City of South Bend, Indiana Capital Projects Funds Park Nonreverting Capital Cumulative Capital Development Cumulative Capital Improvement Morris Performing Arts Center Capital TIF Leighton Plaza Revenue Property taxes $ - $ 440,887 $ - $ - $ - Income taxes ----- Professional sports development taxes ----- Intergovernmental -37,227 407,727 -- Charges for services 5,167 --101,781 21,336 Fines and forfeitures ----- Investment income 3,347 3,950 2,554 4,880 1,517 Rental income --25,000 -105,312 Other revenue ----6,503 Total revenue 8,514 482,064 435,281 106,661 134,668 Expenditures Current: General government ----- Public safety ----- Highways and streets ----- Community and economic development ----- Culture and recreation ----- Capital outlay 186,202 --23,992 158,134 Debt service: Principal -512,847 --- Interest on long-term debt -13,890 --- Total expenditures 186,202 526,737 -23,992 158,134 Excess of Revenue Over (Under) Expenditures (177,688) (44,673) 435,281 82,669 (23,466) Other Financing Sources (Uses) Issuance of debt ----- Proceeds from sale of capital assets ----- Transfers in - 53,040 - - - Transfers out --(368,250)-- Total other financing sources (uses)-53,040 (368,250)-- Net Change in Fund Balances (177,688) 8,367 67,031 82,669 (23,466) Fund Balances - Beginning of year 469,751 571,993 311,250 506,815 206,578 Fund Balances - End of year $ 292,063 $ 580,360 $ 378,281 $ 589,484 $ 183,112 2016 CAFR, Pg 156 14 Other Supplemental Information Combining Statement of Revenue, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds Year Ended December 31, 2016 Capital Projects Funds TIF - West Washington Redevelopment General Community Revitalization Enhancement District TIF No. 1 - Southside Development TIF No. 3 - Southside Development Football Hall of Fame Capital Major Moves $ 406,002 $ - $ - $ 2,227,804 $ - $ - $ - ------- ------- ------- ------- ------- 14,904 80 590 50,178 45,511 4,623 21,618 ------- ------121,009 420,906 80 590 2,277,982 45,511 4,623 142,627 ------- ------- ------- ------- -----50,267 - 10,717 329 - 4,068,202 --809,666 ------- ------- 10,717 329 -4,068,202 -50,267 809,666 410,189 (249)590 (1,790,220) 45,511 (45,644) (667,039) ------- -----48,709 - ------- --(3,039)-(489,505)(3,065)- --(3,039)-(489,505)45,644 - 410,189 (249) (2,449) (1,790,220) (443,994)- (667,039) 2,024,609 8,703 2,449 6,115,740 5,302,756 -7,098,945 $ 2,434,798 $ 8,454 $-$ 4,325,520 $ 4,858,762 $-$ 6,431,906 2016 CAFR, Pg 157 15 City of South Bend, Indiana Capital Projects Funds TIF River East Development TIF Douglas Road TIF - River East Residential Certified Technology Park Palais Royale Historic Preservation Revenue Property taxes $ 2,271,917 $ 304,526 $ 3,932,947 $ - $ - Income taxes ----- Professional sports development taxes ----- Intergovernmental ----- Charges for services 1,400 - 210,999 - - Fines and forfeitures ----- Investment income 69,674 1,096 1,666 20,088 748 Rental income ----- Other revenue 68,401 ---15,754 Total revenue 2,411,392 305,622 4,145,612 20,088 16,502 Expenditures Current: General government ----- Public safety ----- Highways and streets ----- Community and economic development ----- Culture and recreation ----- Capital outlay 2,174,610 -1,100 142,913 - Debt service: Principal ----- Interest on long-term debt -28,774 171,906 -- Total expenditures 2,174,610 28,774 173,006 142,913 - Excess of Revenue Over (Under) Expenditures 236,782 276,848 3,972,606 (122,825) 16,502 Other Financing Sources (Uses) Issuance of debt ----- Proceeds from sale of capital assets ----- Transfers in ----- Transfers out --(2,474,000)-- Total other financing sources (uses)--(2,474,000)-- Net Change in Fund Balances 236,782 276,848 1,498,606 (122,825) 16,502 Fund Balances - Beginning of year 7,661,406 (443,111)(2,816,175)2,273,467 76,418 Fund Balances - End of year $ 7,898,188 $ (166,263)$ (1,317,569)$ 2,150,642 $ 92,920 2016 CAFR, Pg 158 16 Other Supplemental Information Combining Statement of Revenue, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds Year Ended December 31, 2016 Capital Projects Funds Airport Urban Enterprise Zone Equipment Leasing Century Center Energy Conservation Bond Smart Streets Bond Capital Projects Fund Parks Bond Capital Projects Fund Total Total Nonmajor Governmental Funds $ - $ - $ - $ - $ - $ 9,584,083 $ 10,945,595 ------4,217,549 -----673,787 673,787 -----444,954 11,458,825 -----340,683 2,698,519 ------391,405 3,488 3,492 - 15,016 4,485 277,221 807,524 -----130,312 137,699 -3,800 ---301,236 1,105,577 3,488 7,292 -15,016 4,485 11,752,276 32,436,480 ------463,540 ------1,614,169 ------10,304,861 ------7,128,732 -----50,267 1,015,215 - 3,439,812 343,478 14,793,978 891,688 27,056,295 27,056,295 -----1,242,847 8,307,488 -----322,620 3,630,548 -3,439,812 343,478 14,793,978 891,688 28,672,029 59,520,848 3,488 (3,432,520) (343,478) (14,778,962) (887,203) (16,919,753) (27,084,368) - 4,950,881 - - - 4,950,881 4,950,881 -----48,709 82,335 -----53,040 13,962,422 ---(1,190)-(3,339,049)(3,715,419) -4,950,881 -(1,190)-1,713,581 15,280,219 3,488 1,518,361 (343,478) (14,780,152) (887,203) (15,206,172) (11,804,149) 379,647 422,833 343,478 19,023,787 4,950,231 55,177,988 92,106,251 $ 383,135 $ 1,941,194 $-$ 4,243,635 $ 4,063,028 $ 39,971,816 $ 80,302,102 2016 CAFR, Pg 159 17 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, 2016 Variance Actual With Final Budgetary Budget Basis Positive Original Final Amounts (Negative) Revenues: Taxes: Property 1,200,000$ 1,361,512$ 1,361,512$ -$ Intergovernmental 183,112 183,112 70,548 (112,564) Other 100 100 112,066 111,966 Total revenues 1,383,212 1,544,724 1,544,126 (598) Expenditures: Debt service: Principal 1,180,000 1,180,000 1,180,000 - Interest and fiscal agent fees 88,015 91,000 91,000 - Total expenditures 1,268,015 1,271,000 1,271,000 - Net change in fund balances 115,197 273,724 273,126 (598) Fund balances - Beginning 11,396 11,396 11,396 - Fund balances - Ending 126,593$ 285,120$ 284,522$ (598)$ Budget/GAAP Reconciliation Net change in fund balance, budget basis 273,126$ To adjust revenues for accruals 114 To adjust expenditures for accruals 2,972 Net change in fund balance, GAAP basis 276,212$ Budgeted Amounts 2016 CAFR, Pg 193 18 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, 2016 Variance Actual With Final Budgetary Budget Basis Positive Original Final Amounts (Negative) Revenues - Other 5,000$ 14,000$ 9,471$ (4,529)$ Other financing uses - Transfers out (5,000) (14,000) (8,312) 5,688 Net change in fund balances - - 1,159 1,159 Fund balances - Beginning 1,038,904 1,038,904 1,038,904 - Fund balances - Ending 1,038,904$ 1,038,904$ 1,040,063$ 1,159$ Budget/GAAP Reconciliation Net change in fund balance, budget basis 1,159$ To adjust revenues for accruals 36 To adjust expenditures for accruals 1 Net change in fund balance, GAAP basis 1,196$ Budgeted Amounts 2016 CAFR, Pg 194 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 - Palais Royale Year Ended December 31, 2016 Variance Actual With Final Budgetary Budget Basis Positive Original Final Amounts (Negative) Revenues - Other 6,000$ 15,000$ 15,824$ 824$ Other financing uses - Transfers out (6,000) (15,000) (13,888) 1,112 Net change in fund balances - - 1,936 1,936 Fund balances - Beginning 1,735,840 1,735,840 1,735,840 - Fund balances - Ending 1,735,840$ 1,735,840$ 1,737,776$ 1,936$ Budget/GAAP Reconciliation Net change in fund balance, budget basis 1,936$ To adjust revenues for accruals 59 To adjust expenditures for accruals 1 Net change in fund balance, GAAP basis 1,996$ Budgeted Amounts 2016 CAFR, Pg 196 20 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, 2016 Variance Actual With Final Budgetary Budget Basis Positive Original Final Amounts (Negative) Revenues - Other 152$ 152$ 80$ (72)$ Expenditures: Economic Development - Other services and charges 4,500 4,500 329 4,171 Net change in fund balances (4,348) (4,348) (249) 4,099 Fund balances - Beginning 8,713 8,713 8,713 - Fund balances - Ending 4,365$ 4,365$ 8,464$ 4,099$ Budget/GAAP Reconciliation Net change in fund balance, budget basis (249)$ To adjust expenditures for accruals - Net change in fund balance, GAAP basis (249)$ Budgeted Amounts 2016 CAFR, Pg 207 21 Supporting Schedules 12/31/2016 Prior Current 12/31/2016 Auditor Year Year CAFR Account Number Account Name Worksheet Adjustment Adjustment Balance Total Notes FUND 313 - HALL OF FAME DEBT SERVICE - complete 3/10/17 313-0000-101.00-00 CASH 60,867.82 60,867.82 313-0000-103.00-00 INVESTMENTS 212,042.19 212,042.19 313-0000-111.00-00 CASH WITH FISCAL AGENT 16,316.69 3,086.89 19,403.58 US Bank Trustee statements 313-0000-116.00-00 INTEREST REC -INVESTMENTS 480.02 480.02 292,793.61 Per 12/31/16 AR Schedule 313-0000-271.00-00 FUND BALANCE (16,581.21) (17.72)17.72 (16,581.21) (16,581.21)Agrees to 12/31/15 CAFR 313-0000-311.00-00 GENERAL PROPERTY TAX (1,361,511.67) (1,361,511.67) 313-0000-312.02-00 AUTO EXCISE (59,890.97) (59,890.97) 313-0000-312.03-00 COMMERCIAL VEHICLE TAX (10,657.00) (10,657.00) 313-0000-338.00-00 PILOT TRANSFERS IN (112,116.00) (112,116.00) 313-0000-361.00-00 INTEREST ON INVESTMENTS 50.13 17.72 (132.11) (64.26) (1,544,239.90)$114.39 Interest US Bank statements 313-0401-472.38-01 PRINCIPAL 1,180,000.00 1,180,000.00 Principle amount paid per US Bank stmts 313-0401-472.38-02 INTEREST 91,000.00 (2,972.50)88,027.50 1,268,027.50 mtsatements TOTAL HALL OF FAME DEBT SERVICE - - - - - FUND 315 - AIRPORT 2003 DEBT RESERVE - complete 3/10/17 315-0000-101.00-00 CASH 231,259.89 231,259.89 315-0000-103.00-00 INVESTMENTS 805,628.60 805,628.60 315-0000-116.00-00 INTEREST RECEIVABLE 1,823.76 106.22 1,929.98 1,038,818.47 Per 12/31/16 AR Schedule 315-0000-271.00-00 FUND BALANCE (1,037,553.40) (70.69)(1,037,624.09) (1,037,624.09)Agrees to 12/31/15 CAFR 315-0000-361.00-00 INTEREST EARNINGS (9,470.56) 70.69 (106.22) (9,506.09) (9,506.09)Per 12/31/16 AR Schedule 315-1002-460.50-02 INTERFUND OPER. TRANSFER 8,311.71 8,311.71 8,311.71 TOTAL AIRPORT 2003 DEBT RESERVE - - - - - City of South Bend, Indiana Conversion Worksheets - Civil City and TIF December 31, 2016 22 Name US Bank 2011 Refunding Sinking Fund US Bank 2011 Refunding Oper/Reserve Fund Total Cash Balance at January 1, 2016 $8.05 $16,308.64 $16,316.69 Debt Service Payment Received from City 1,271,000.00 0.00 1,271,000.00 Interest Earnings 51.98 62.41 114.39 Transfer In From Other Account 41.42 3,045.55 3,086.97 Principal Paid to Bondholders (1,180,000.00)0.00 (1,180,000.00) Interest Paid to Bondholders (88,027.50)0.00 (88,027.50) Transfer Out To Other Accounts (3,045.55)(41.42)(3,086.97) Other 0.00 0.00 0.00 Cash Balance at December 31, 2016 $28.40 $19,375.18 $19,403.58 Summary Per Trustee Account Number Statements Adjustments Per CAFR Debt Service Pymt Received from City 313-0000-392-00-00 1,271,000.00 0.00 1,271,000.00 Interest Earnings 313-0000-361-00-00 114.39 0.00 114.39 Transfer In From Other Account --3,086.97 (3,086.97)0.00 Principal Paid to Bondholders 313-0401-472-38-01 (1,180,000.00)0.00 (1,180,000.00) Interest Paid to Bondholders 313-0401-472-38-02 (88,027.50)0.00 (88,027.50) Transfer Out To Other Accounts --(3,086.97)3,086.97 0.00 Other --0.00 0.00 0.00 Net 3,086.89 0.00 3,086.89 Beginning Cash - 01/01/2015 16,316.69 0.00 16,316.69 Ending Cash - 12/31/2015 19,403.58 0.00 19,403.58 South Bend Redevelopment Authority College Football Hall of Fame Include with Fund 313 Hall of Fame Conversion Worksheet December 31, 2016 Prepared - January 17, 2017 23 City Fund 752 Trustee Conversion Statements Worksheet Account Number Account Number 12-31-16 Adjustments 12-31-16 Cash 752-0000-101-00-00 1,232,769.39 0.00 1,232,769.39 Fund Balance (per 12/31/15 CAFR)752-0000-271-00-00 (1,217,411.33) 0.00 (1,217,411.33) Revenue Interest Income 752-0000-361-00-00 (1,625.00) 0.00 (1,625.00) Transfers From City (Lease Rental)752-0000-392-00-00 (4,409,500.00) 0.00 (4,409,500.00) Transfers Between Trust Accounts --(301,856.35) 301,856.35 0.00 Expenditures Paying Agent Fees 752-0000-472-38-03 3,750.00 0.00 3,750.00 Debt Service - Principle 752-0000-472-38-01 3,120,000.00 0.00 3,120,000.00 Debt Service - Interest 752-0000-472-38-02 1,272,016.94 0.00 1,272,016.94 Transfers Between Trust Accounts --301,856.35 (301,856.35)0.00 Other 752-0000-472-39-89 0.00 0.00 0.00 Totals (0.00) 0.00 (0.00) City of South Bend Redevelopment Authority Debt Service (CAFR #34.3) December 31, 2016 24 City of South Bend, Indiana 2015 Smart Streets Bond Financial Statements (CAFR Schedule No. 40) December 31, 2016 Updated - February 27, 2017 Balance Name Account Number 12/31/16 Notes Capital Projects Fund (construction fund) Balance Sheet Cash 753-0000-101-00-00 5,929,453.38 Per trustee statement at 12/31/16 Interest Receivable 753-0000-116-00-00 604.16 Per trustee statement in January 2017 Accounts Payable 753-0000-202-00-00 (998,431.31) Accounts payable paid in 2017 Retainage Payable 753-0000-202-01-00 (687,990.65) Retainage Payable at 12/31/16, Rieth Riley Fund Balance 753-0000-271-00-00 4,243,635.58 Income Statement Revenue Interest Earnings 753-1001-361-00-00 15,015.68 $14,740.88 received - $329.36 + $604.16 Total Revenue 15,015.68 Expenditures Street Improvements 753-1001-460-42-01 14,792,477.83 $13,136,133.44 paid - $30,077.57 A/P Bgn + $1,686,421.96 End Paying Agent Fees 753-1001-460-38-03 1,500.00 Transfers to Debt Service Fund 753-1101-460-50-02 1,190.00 Total Expenditures 14,795,167.83 Net (14,780,152.15) Fund Balance - Beginning of Year 19,023,787.73 Per 2015 CAFR Fund Balance - End of Year 4,243,635.58 Debt Service Reserve Fund (sinking, operations/reserve, reserve, bond interest - four accounts) Balance Sheet Cash 756-0000-101-00-00 2,108,440.41 Per trustee statements at 12/31/16 Interest Receivable 756-0000-116-00-00 178.58 Per January trustee statements Fund Balance 756-0000-271-00-00 2,108,618.99 Revenue Interest Earnings 756-1001-361-00-00 2,351.61 $2,222.22 received less $49.19 plus $178.58 Transfer In 756-1001-392-00-00 1,190.00 Transfer In from Smarts Streets Bond Capital Fund Total Revenue 3,541.61 Expenditures Bond Issuance Costs 756-1001-460-31-50 1,190.00 Faegre Baker Daniels Debt Service - Interest 756-1001-460-37-12 789,568.76 Capitalized interest per amortization schedule paid by trustee Total Expenditures 790,758.76 Debt Schedule No. 135 - paid 2/1/16 and 8/1/16 Net (787,217.15) Fund Balance - Beginning of Year 2,895,836.14 Per 2015 CAFR Fund Balance - End of Year 2,108,618.99 25 US Bank US Bank US Bank US Bank US Bank US Bank US Bank US Bank US BankTotalSinking Oper/Res Res Reserve Debt Serv Res Excess Sinking O&R Res Expense Beginning Cash & Investments ‐ 1/1/161,217,411.330.55 166,551.65 0.000.000.00 59.830.24 4,812.980.000.00Receipts: Interest1,625.0036.25 165.24 0.000.000.000.200.00 282.850.000.00 Transfers from City4,409,500.00396,000.000.00 0.000.000.000.000.00 2,474,000.000.000.00 Trans Between Trust Accounts301,856.35 143,205.71 151,613.23 0.000.000.000.000.000.000.000.00Total Receipts4,712,981.35 539,241.96 151,778.47 0.000.000.000.200.00 2,474,282.850.000.00 Disbursements: Paying Agent Fees3,750.000.00 1,000.00 0.000.000.000.000.000.000.000.00 Debt Pymt ‐ Principle3,120,000.00 290,000.000.00 0.000.000.000.000.00 1,375,000.000.000.00 Debt Payment ‐ Interest1,272,016.94 97,612.500.00 0.000.000.000.000.00 1,095,929.440.000.00 Trans Between Trust Accounts301,856.35 151,613.23 143,205.71 0.000.000.000.000.000.000.000.00Total Disbursements4,697,623.29 539,225.73 144,205.71 0.000.000.000.000.00 2,470,929.440.000.00 Ending Cash & Investments ‐ 12/31/161,232,769.3916.78 174,124.41 0.000.000.00 60.030.24 8,166.390.000.00 Reconciliation of transfers from City City Debt Fund NumberLease SchedulesUS Bank 2013 Rev. Bond Century Center #62 324 290,000.00 290,000.00 PincipleUS Bank 2013 Rev. Bond Century Center 324 106,000.00 97,612.50 Interest396,000.00 387,612.50 US Bank Eddy Street Commons #54 436 1,375,000.00 1,375,000.00 PrincipleUS Bank Eddy Street Commons 436 1,099,000.00 1,095,929.44 Interest2,474,000.00 2,470,929.44 Wells Fargo Morris 2009 #11 324 995,000.00 995,000.00 PrincipleWells Fargo Morris 2009 324 53,500.00 50,600.00 Interest 1,048,500.00 1,045,600.00 US Bank Century Center 2011B 25% 404 115,000.00 115,000.00 PrincipleUS Bank Century Center 2011B 25% 404 7,750.00 6,968.75 InterestUS Bank Century Center 2011B 75% 407 345,000.00 345,000.00 PrincipleUS Bank Century Center 2011B 75% 407 23,250.00 20,906.25 Interest491,000.00 487,875.00 4,409,500.00 4,392,016.94 City of South Bend, IndianaRedevelopment Authority FundTrustee Statements2013 Century Center2008 Eddy Street Commons Bond (refunded)2015 Eddy Street RefundingDecember 31, 201626 Beginning Cash & Investments ‐ 1/1/16Receipts: Interest Transfers from City Trans Between Trust AccountsTotal Receipts Disbursements: Paying Agent Fees Debt Pymt ‐ Principle Debt Payment ‐ Interest Trans Between Trust AccountsTotal Disbursements Ending Cash & Investments ‐ 12/31/16City of South Bend, IndianaRedevelopment Authority FundTrustee StatementsDecember 31, 20162008 Eddy Street - non - CAFRWells Wells Wells US Bank US Bank US BankUS Bank US BankUS BankDebt Serv Res Op and Repair Sinking Sinking Reserve OperatingEscrow ReserveSinking Fund721,004.27 12,218.37 0.29 52.62 298,100.85 14,609.6835,605,603.99 0.000.0066.17 7.32 1.29 20.89 992.80 51.99412,938.44 0.000.000.00 0.00 1,048,500.00491,000.00 0.00 0.000.00 0.000.000.00 2,960.16 0.00738.73 0.00 3,338.520.00 0.002,929,768.7666.17 2,967.48 1,048,501.29 491,759.62 992.80 3,390.51412,938.44 0.002,929,768.760.00 2,750.00 0.00 0.00 0.00 0.000.00 0.000.000.00 0.00 995,000.00 460,000.000.000.000.00 0.001,120,000.000.000.00 50,600.00 27,875.000.000.000.00 0.001,809,768.7658.580.00 2,901.58 3,338.52 738.730.002,929,768.76 0.000.0058.58 2,750.00 1,048,501.58 491,213.52 738.730.002,929,768.76 0.002,929,768.76721,011.86 12,435.850.00 598.72 298,354.92 18,000.1933,088,773.67 0.000.00Advanced Refunding Bam Suretynon CAFR $2,472,456 Morris Performing Arts ‐ 2009 Century Center ‐ 2011B Refunding 27 City of South Bend Building Corporation Debt Service Fund (CAFR Schedule No. 34.2) December 31, 2016 Unadjusted CAFR Account Trial Balance Trial Balance Account Name Number 12/31/16 Adjustments 12/31/16 Cash - Police & Fire 755-0000-101-00-00 27,890.79 0.00 27,890.79 Cash - Public Works Building, 87.7% of total 755-0000-101-00-00 617,370.87 (77,473.95) 3 539,896.92 Cash - US Bank 2013 Revenue Bond Issue (EMS)755-0000-101-00-00 116,826.94 (116,826.94) 4 0.00 Beginning Fund Balance, per CAFR 12/31/15 (751,145.10) 189,435.10 (561,710.00) Interest Income 755-0000-361-00-00 (347.50)67.97 4 (279.53) Transfers In - From City Funds 755-0000-392-00-00 (2,658,000.00) 492,709.50 1,4 (2,165,290.50) Transfers In - From Building Corporation Accounts --(232,242.39) 232,242.39 2 0.00 Paying Agent Fees 755-0602-431-38-03 4,464.00 (950.00) 4 3,514.00 Debt Service - Principal 755-0602-431-37-11 1,980,000.00 (288,880.00) 1,4 1,691,120.00 Debt Service - Interest 755-0602-431-37-12 662,940.00 (198,081.68) 1,4 464,858.32 Transfers Out - To Building Corporation Accounts --232,242.39 (232,242.39) 2 0.00 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 - 1/1/16 (per prior year audit) 77,071.13 Lease Rental Paid by Wastewater 83,209.50 #641-0630-793-37-11 and 12 Wastewater Principal Paid - $560,000.00 x 12.3% (68,880.00) Wastewater Interest Paid - $113,225.00 x 12.3% (13,926.68) Ending Cash - 12/31/16 77,473.95 EMS Cash Summary - 2013 Building Corporation Bonds (add to EMS Conversion Worksheet) Beginning Cash - 1/1/16 (per prior year audit)112,360.73 Interest Earnings 69.21 Lease Rental Paid by EMS 409,500.00 #288-0902-422-37-11 and 12 Account Fees (950.00) Principal Paid (220,000.00) Interest Paid (184,153.00) Ending Cash - 12/31/16 116,826.94 28 City of South Bend, IndianaBuilding Corporation Transactions - Per Trustee StatementsJanuary 1, 2016 through December 31, 2016Wells Fargo Wells Fargo Wells FargoEMS EMS EMS EMS EMS2010 COIT 2001 COIT 2010 Refunding US Bank US Bank US Bank US Bank US Bank US Bank US Bank US Bank2010 Refunding2010 Refunding Public Works2012 Police/Fire 2012 Police/Fire 2012 Police/Fire 2013 Rev Bond 2013 Rev Bond 2013 Rev Bond 2013 Rev Bond 2013 Rev Bond GrandDebt Reserve Sinking Fund Operation/Res. Sinking Fund Oper/Reserve Reserve Sinking Fund Oper/Reserve Reserve Const Fund Bond Int Acct Total Balance @ January 1, 2016 $607,500.00 $20.30 $9,028.61 $16.38 $18,339.78 $3,877.30$1.91 $112,244.84$0.00 $115.98$0.00 $751,145.10Receipts: Interest60.930.000.03152.9954.579.7717.3451.760.000.110.00 347.50 Lease Payments from City 0.00676,500.000.00 1,572,000.000.000.00409,500.000.000.000.000.00 2,658,000.00 Transfer From Other Accounts (1)0.0056.10 3,331.100.00 6,547.570.00108,475.59 113,832.030.000.000.00 232,242.39 Other0.000.000.000.000.000.000.000.000.000.000.000.00 Total Receipts60.93676,556.10 3,331.13 1,572,152.99 6,602.149.77517,992.93 113,883.790.000.110.00 2,890,589.89 Disbursements: Account Fees 0.00 0.00 2,514.00 0.00 1,000.00 0.00 0.00 950.00 0.00 0.000.00 4,464.00 Debt Service - Principal 0.00 560,000.00 0.00 1,200,000.00 0.00 0.00220,000.00 0.00 0.00 0.00 0.00 1,980,000.00 Debt Service - Interest 0.00 113,225.00 0.00 365,560.00 0.00 0.00 184,155.000.000.000.000.00 662,940.00 Transfer to Other Accounts (1)56.103,331.100.006,547.570.000.00113,832.03 108,475.590.000.000.00 232,242.39 Other0.000.000.000.000.000.000.000.000.000.000.000.00 Total Disbursements56.10676,556.10 2,514.00 1,572,107.57 1,000.000.00517,987.03 109,425.590.000.000.00 2,879,646.39Balance @ December 31, 2016$607,504.83$20.30$9,845.74$61.80$23,941.92$3,887.07$7.81$116,703.04$0.00$116.09$0.00$762,088.60 Reconciliation of Transfers in from CityFund Name Bond NameAccount NameCity Payment Amortization Sched404 Wells Fargo 2010 Refunding Public Works #36 (P) 404-0401-415.37-11491,120.00$ 491,120.00$ 404 Wells Fargo 2010 Refunding(I) 404-0401-415.37-12102,170.50 99,298.20 641 Wells Fargo 2010 Refunding(P) 641-0630-793.37-1168,880.00 68,880.00 641 Wells Fargo 2010 Refunding(I) 641-0630-793.37-1214,329.50 13,926.80 676,500.00 673,225.00 404 US Bank 2012 Police/fire #39 - 25%(P) 404-0401-415.37-11300,000.00 300,000.00 404 US Bank 2012 Police/fire - 25%(I) 404-0401-415.37-1293,000.00 91,390.00 324 US Bank 2012 Police/fire - 75%(P) 324-1050-460.37-11900,000.00 900,000.00 324 US Bank 2012 Police/fire - 75%(I) 324-1050-460.37-12279,000.00 274,170.00 (100% in Fund 324 in 2017)1,572,000.00 1,565,560.00 288 US Bank 2013 Rev. Bond EMS #116(P) 288-0902-422.37-11220,000.00 220,000.00 288 US Bank 2013 Rev. Bond(I) 288-0902-422.37-12189,500.00 184,155.00 409,500.00 404,155.00 Grand Total2,658,000.00$ 2,642,940.00$ 29