HomeMy WebLinkAboutAppropriation- Designated Enterprise Funds 1997r r
/ ~ ..
ORDINANCE No. a,as-96
Passed by the Common Council of the City of South Bend, Indiana,
December 23, 19 96
Attest:
Attest:
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
December 26, 19 96
City Clerk
Approved and signed by me ~ .e.Pp~s-rc.~,c,rcJ c3~ 19
~ Mayor
~~ ~r~~
ORDINANCE N0. ~ /~ /~O
AN ORDINANCE OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND APPROPRIATING MONIES FOR THE PURPOSE
OF DEFRAYING THE EXPENSES OF THE DESIGNATED ENTERPRISE FUNDS
OF THE CITY OF SOUTH BEND, INDIANA, FOR THE FISCAL YEAR
BEGINNING JANUARY 1, 1997, AND ENDING DECEMBER 31, 1997,
INCLUDING ALL OUTSTANDING CLAIMS AND OBLIGATIONS, AND
FIXING A TIME WHEN THE SAME SHALL TAKE EFFECT
STATEMENT OF PURPOSE AND INTENT
It is necessary to pass this Ordinance in order to
appropriate monies to defray the expenses of designated
Enterprise Fund of the City of South Bend, Indiana for 1997
NOW THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, INDIANA, AS FOLLOWS:
SECTION I. For the expenses of designated Enterprise Funds
of the City of South Bend, Indiana, its various departments,
funds, commissions and institutions for the fiscal year ending
December 31, 1997, the following sums of money, as set forth in
the attached budget which is made a part hereof, are hereby
appropriated and ordered set apart within the funds hereinafter
named in Section II, and for the purposes hereinafter specified
in Section II, subject to the laws governing the same. The sums
herein appropriated shall be deemed to include all expenditures
authorized to be made in said year, unless otherwise expressly
stipulated or provided by law.
SECTION II. For the fiscal year ending December 31, 1997,
the above appropriations are made within the following funds of
the City:
Hall of Fame
SECTION III. This Ordinance shall be in full force and
effect from and after its passage by the Common Council and
approval by the Mayor. ~
~~~ /^ ~
//""~\ ~ ~
Member of the Common Cou~icil
1 sr READfNG ~~- ~~ ~ ~~
PU'~LIC HE,4RING ~~ .-„~~ ~.~ f~~°
3rd E~EADING ~~ ..Z j _ L~~
NOT APPP,OVED
~E; ER~:ED nn
Pr':SSED ~~' ~. }...~~~ rl~ ~~~~lE~~~.Y..-~-~` ~EI .SU~T~~~t1~ll
r-;red i~ ~~~~#~SF,t, 5`~~F:~~~
DEC 1 f' 1896
LOflI_T7TA.l. ~SSJi:D~,~..,
CITY CLGFif:, °O. C~~sJ:S, iFl.
COLLEGE FOOTBALL HALL OF FAME
SUMMARY STATEMENT OF REVENUE AND EXPENSES
1996-1998
OPERATING REVENUE
OPERATING EXPENSES:
Personnel Services
Supplies
Other Services
Capital
TOTAL OPERATING EXPENSES
INCOME/LOSS FROM OPERATIONS
FINANCING REVENUE
FINANCING EXPENSES
INCOME/LOSS FROM FINANCING
NET INCOME/LOSS
REVISED PROJECTED
1996 1997 1998
$1,321,985.00 $1,664,725.00 $1,714,667.00
$488,031.00 $694,802.00 $715,646.00
$91,325.00 $105,370.00 $108,531.00
$1,005,216.00 $1,292,717.00 $1,331,499.00
$38,675.00 $76,000.00 $78,280.00
$1,623,247.00 $2,168,889.00 $2,233,956.00
($301,262.00) ($504,164.00) ($519,289.00)
$1,260,500.00 $1,460,000.00 $473,800.00
$951,463.00 $931,463.00 $959,407.00
$309,037.00 $528,537.00 ($485,607.00)
$7,775.00 524,373.00 (51,004,896.00)
NOTE: The Capital Contribution of $1,000,000 was a committment for 1996
and 1997. The 1998 Projected Financing Revenue reflects the elimination
of this contribution.
The Net Loss Projected for 1998 is the Fundraising Target.
••
COLLEGE FOOTBALL HALL OF FAME
REVENUE BUDGET 1997
REVISED
1996 1997
BUDGET BUDGET
OPERATIONS
Admissions
Room & Equipment Rent
Commissions - Catering
Follett/Burger King
Heisman Golf Tournament
Enshrinement Ceremony
Sponsorships - Gross
Licensing
Miscellaneous
TOTAL OPERATIONAL REVENUE
FINANCING
Contributions - Friends of the Hall
Contributed Capital
Hotel Motel Tax
Interest Income - DSR
Other Revenue - DSR
TOTAL FINANCING REVENUE
TOTAL REVENUE
$430,617.00 $572,125.00
$52,000.00 548,000.00
$36,400.00 $30,600.00
$89,809.00 $93,000.00
$0.00 $66,000.00
$75,000.00 $75,000.00
$620,000.00 $725,000.00
$0.00 $30,000.00
518,159.00 $25,000.00
$1,321,985.00 $1,664,725.00
$100,000.00
$1,000,000.00
$100,000.00
$60,000.00
5500.00
$1,260,500.00
52.582.485.00
5100,000.00
$1,000,000.00
$300,000.00
$60,000.00
$0.00
$1,460,000.00
53.124.725.00
Page 1
Prepared
11/16/96
COLLEGE FOOTBALL HALL OF FAME
EXPENSE BUDGET 1997
REVISED
1996 1997
BUDGET BUDGET
OPERATIONS
SALARIES & WAGES
Salaried $270,308.00 $390,766.00
Full Time Hourly $62,566.00 $66,352.00
Part-Time & Overtime $76,460.00 $113,946.00
EMPLOYEE BENEFITS
Group Insurance $32,000.00 $57,920.00
Social Security $31,314.00 $43,686.00
PERF $12,483.00 $16,104.00
Other Fringe $2,900.00 $6,028.00
TOTAL PERSONAL SERVICES $488,031.00 $694,802.00
SUPPLIES
Stationery $4,000.00 $4,200.00
Other Office Supplies $5,000.00 $5,250.00
Cleaning Supplies $14,000.00 $14,000.00
Maintenance Supplies $7,000.00 $8,000.00
Building Materials $10,800.00 $11,500.00
Uniforms $4,225.00 $4,500.00
Salt $1,800.00 $1,800.00
Collection Supplies $0.00 $8,320.00
Other Supplies $9,000.00 $7,800.00
A/V Lamps $23,000.00 $25,000.00
Flags/Pennants $12,500.00 $15,000.00
TOTAL SUPPLIES $91,325.00 $105,370.00
Prepared
11/16/96
Page 2
J ~t
COLLEGE FOOTBALL HALL OF FAME
EXPENSE BUDGET 1997
REVISED
1996 1997
BUDGET BUDGET
OTHER SERVICES
Enshrinement Ceremony
Heisman Golf Tournament
Postage
Travel
Telephone
Printing
Publications/Legal Notices
Promotion and Training
Marketing
Insurance
Electric
Gas
Water
Building Repairs
Equipment Repair
Equipment Rental
Dues & Subscriptions
Other Contractuals
Volunteer Program
Annual Upgrade
Sponsorship - Commissions & Other
TOTAL OTHER SERVICES
CAPITAL OUTLAYS
ADMINISTRATIVE COSTS
TOTAL OPERATIONAL EXPENSES
FINANCING
Interest Expense
Construction Expenses
Letter of Credit Fees
Letter of Credit Transaction Fees
Remarketing Fees
Trust Fees
Other Financing Fees
Accounting & Consulting Fees
TOTAL FINANCING EXPENSES
TOTAL REVISED EXPENSES
$69,200.00 $75,000.00
$0.00 $66,000.00
$8,600.00
$21,500.00
$13,500.00
$5,000.00
$1,000.00
$14,000.00
$271,000.00
$18,246.00
$100,000.00
$32,250.00
$3,700.00
$6,000.00
$18,000.00
$21,000.00
$1,500.00
$124,853.00
$5,000.00
$130,416.00
$128,750.00
$9,200.00
$33,500.00
$15,000.00
$5,500.00
$1,200.00
$20,000.00
$400,000.00
$18,246.00
$100,000.00
$32,250.00
$5,000.00
$9,000.00
$56,000.00
$21,000.00
$1,800.00
$135,470.00
$8,100.00
$150,000.00
$118,750.00
$993,515.00 $1,281,016.00
SCR ~~~ nn
$11,701.00
$76,000.00
$11,701.00
$1,623,247.00 $2,168,889.00
$807,750.00
$20,000.00
$80,775.00
$2,500.00
$22,438.00
$3,000.00
$5,000.00
$10,000.00
$807,750.00
$0.00
$80,775.00
$2,500.00
$22,438.00
$3,000.00
$5,000.00
$10,000.00
$951,463.00
$931,463.00
52,574.710.00 53.100.352.00
Prepared
11/16/96
Page 3
COLLEGE FOOTBALL HALL OF FAME
PERSONNEL-ADMINISTRATIVE
TITLE
Executive Director
Group Sales and Special Events
Fundraising, Pub. Relations
Director of A/V Operations
Auditor IZ
Auditor III
Senior Cashier
Engineering Aide
Coordinator of Education
Secretary I/Receptionist
Secretary V/Fundraising
Administrative Assistant
Director of Collections
Director of Marketing and PR
Director of Operations
Director of Fundraising & Development
Merit Bonus
TOTAL
Notes:
REVISED
1996 1997
BUDGET BUDGET
$43,260.00 $44,558.00
$28,840.00 $29,705.00
$20,000.00 $0.00
$27,000.00 $30,000.00
$21,630.00 $22,600.00
$0.00 $26,069.00
$16,640.00 $0.00
$21,500.00 $24,038.00
$5,550.00 $24,720.00
$20,000.00 $0.00
$0.00 $20,359.00
$10,770.00 $28,840.00
$30,900.00 $31,827.00
$8,077.00 $36,050.00
$8,077.00 $32,500.00
$2,310.00 $30,000.00
$5,754.00 $9,500.00
5270,308.00 X390,766.00
Coordinator of Education - As of preparation date this position is still
open. The 1996 salary based on October 15 - December 31.
Admin. Assistant - 1996 salarybased on August 12 - December 31.
The Fundraising, Public Relations - This position was eliminated
August 30, 1996.
Director of Marketing - As of preparation date this position is still
open. The 1996 salary based on October 15 - December 31.
Director of Operations - As of preparation date this position is still
open. The 1996 salary based on October 15 - December 31.
Secretary I/Receptionist & Secretary V/Fundraising - The Secretary I
position was eliminated in July 1996 and is currently filled with a
part time employee. We are requesting a Secretary V position for 1997
with additional responsibilities including administrating fund-raising
responsibilities.
Auditor II/Auditor III & Senior Cashier - We are anticipating eliminating
the Senior Cashier position and incorporating responsibilities to the
Auditor II. The Auditor II position will have current responsibilities
incorporated in the new position of Auditor III. The Auditor III will
also have added financial responsibilities beyond those of the current
Auditor II.
Director of Fundraising ~ Development - As of preparation date this
position is still open.
Prepared
11/16/96
Page 4
'.
COLLEGE FOOTBALL HALL OF FAME
PERSONNEL - FULL TIME/PART TIME
REVISED
1996 1997
FULL TIME BUDGET BUDGET
Housekeepers 562.566.00 $66,352.00
PART TIME
Special Projects $5,200.00 $7,500.00
Collections Assistant $900.00 $0.00
Volunteer Coordinator $15,000.00 $18,096.00
Housekeeping $0.00 $22,350.00
Cashiers $27,027.00 $28,500.00
A/V Technician $20,000.00 $24,500.00
Weekend Operations Mgr. $3,333.00 $10,000.00
Overtime $5,000.00 $3,000.00
TOTAL 576,460.00 $113,946.00
The Special Projects position includes responsibilities for the Traveling
RV for the Hall of Fame. Budget is based on a 20 hour week at a rate of
$7.21 per hour.
Volunteer Coordinator position is based on a 30 hour week at $11.60 per
hour.
We are requesting the addition of two Part Time Housekeepers. This
would give us the necessary staff to cover days off, sick time, vacation
and holiday's for the full time staff. The rate of pay would be $6.71
per hour and will enable us to decrease the overtime budget.
Cashiers are based on 77 hours of work per week at an hourly rate of $6.95.
The A/V Technician's rate of pay for 1997 is $9.29 per hour.
Weekend Operations Manager rate of pay for 1997 is $7.21 per hour. This
position will also act as a part time Collections Assitant.
Prepared
11/16/96
Page 5
COLLEGE FOOTBALL HALL OF FAME
OTHER CONTRACTUALS
REVISED
1996 1997
BUDGET BUDGET
Lease - Copiers $5,400.00 $5,400.00
Exterminating $780.00 $800.00
Lease - Vehicle $2,973.00 $3,084.00
Window & Sculpture Cleaning $4,500.00 $4,500.00
Fire Alarm System Monitoring $500.00 $500.00
Miscellaneous $18,000.00 $22,526.00
Credit Card Fees 51,200.00 $1,300.00
Security Services $17,500.00 $19,000.00
Special Events $5,000.00 $5,000.00
Century Center Receivable $5,000.00 $5,000.00
Elevators, Chillers, HVAC $4,000.00 $8,360.00
Management Fee $50,000.00 $50,000.00
NFF License Fee 510,000.00 $10,000.00
TOTAL 5124,853.00 5135.470.00
Prepared
11/16/96
Page 6
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
OPERATIONS
ADMISSIONS
Projected admissions revenue for 1997 is based on a total attendance of 99,500
at an average ticket price of $5.75.
ROOM AND EQUIPMENT RENTAL
Room and Equipment Rental projected income is based on the actual use of the
Press Box and Gridiron Plaza in 1996.
COMMISSIONS -CATERING
The Catering Commission projection is based on actual receipts in 1996.
FOLLETT/BURGER KING
Projected revenues for the Gift Shop and Burger King for 1997 are as follows:
Follett (Gift Shop) $78,000
Burger King 15,000
TOTAL $93,000
HEISMAN GOLF TOURNAMENT
The NFF and Hail of Fame will team with the Downtown Athletic Club of New
York to sponsor a Heisman Golf Outing. The golf tournament, a tribute to Notre
Dame's Heisman Trophy Hall of Famers, will be played at Blackthorn Golf
Course. A dinner will be held at the Century Center or the Hall of Fame. The
Division 1-A Class of 1996 will be enshrined at the dinner. This event is
projected to break even with a modest donation to a local charity. Revenues
and Expenses are projected at $66,000 each. The cost per paying golfer is
$550.00.
Page 7
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
ENSHRINEMENT CEREMONY
The Enshrinement Ceremony for the Divisional Class of 1997 will be held in
August. The affair will be similar to the two previous years. This event is
projected to break even (both Revenues and Expenses are at $75,000).
However, a great effort will be exerted to make it an income producer.
SPONSORSHIPS -GROSS
Sponsorship revenues for 1997 are projected as follows:
Burger King $200,000
U. S. Postal Service 150,000
Coca Cola 150,000
Bayer/Alka-Seltzer 75,000
Tyler Refrigeration 25,000
AT & T 20,000
New 75,000
New 75,000
$725,000
LICENSING
ISI has projected our licensing program to net $15,000. This results from
projected revenues of $30,000 and expenses of $15,000.
MISCELLANEOUS
Miscellaneous Income is based on actual receipts from 1996.. This income is
generated from the following: You Call the Play ($5.00 per video cassette); the
Roster Data Base ($3.00 per certificate); Pennants and miscellaneous items sold
by the Hall of Fame. Specific computations are:
FINANCING
CONTRIBUTIONS -FRIENDS OF THE HALL
This line item represents all "non-sponsorship" donations.
Page 8
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
CONTRIBUTED CAPITAL
This $1,000,000 reflects the moneys approved by the City Council in an
agreement between the City and the National Football Foundation. These funds
are to be earmarked for Marketing, hiring of new staff and operational shortfalls
of the Hall.
HOTEVMOTEL TAX
These funds are earmarked for Marketing of the Hall of Fame and are reflected
in the Marketing Expense line item of the budget.
INTEREST INCOME -DSR
This line item represents interest earnings on the debt service trust account
balances which was conservatively estimated at $5,000 per month.
OTHER REVENUE -DSR
This line item represents miscellaneous transactions in the debt service trust
accounts. Per Crowe Chizek, this revenue will be eliminated in 1997.
Page 9
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
OPERATIONS
PERSONNEL SERVICES
ADMINISTRATIVE SALARIES
Per the 1997 Salary Ordinance, non bargaining employees receive a 3%
increase in January 1997. All Administrative salary increases for staff members
who were hired prior to January 1, 1997 are based on the Salary Ordinance with
the exception of the Director of AN Operations. Additional responsibilities are to
be added to this position and an 11% increase is requested. Please refer to
additional notes on Page 4.
FULL TIME HOURLY
The 1997 hourly rate is based on the teamster agreement. The rate of pay for
1997 will be $7.85 per hour. We have also included $1,040 for shift differential.
PART TIME/OVERTIME
Refer to Page 5 for notes concerning part time salaries.
GROUP INSURANCE
Group Insurance is budgeted per City rates for Health Insurance, Long Term
Disability and Life Insurance. The projection is based on current staff and
anticipated new hires.
SOCIAL SECURITY
Social Security benefits were calculated at 7.65% of total wages.
PERF
PERF benefit is calculated at 3.5% of full time wages.
SUPPLIES
All supply budget figures are based on actual expenses through October 1996
and projections for the remainder of the year.
Page 10
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
STATIONERY/PAPER
This item includes copy paper, computer paper and any other miscellaneous
paper needed for the offices.
OFFICE SUPPLIES
This item includes day to day supplies to meet the needs of the office staff.
CLEANING SUPPLIES
These supplies include cleaning chemicals, all paper products, mops, brooms,
trash liners, etc.
MAINTENANCE SUPPLIES
This category includes day to day supplies to maintain the Hall of Fame
properly. Gas for the leased vehicle and the Traveling HOF RV are also
included in this line item. All supplies are for the Maintenance and A/V
Department which includes small tools, miscellaneous hardware items, minor
repair parts, etc.
BUILDING MATERIALS
The major item in this category is light bulbs for the lighting of the Hall. Other
items included in this category are paint supplies, lawn supplies and other
building supplies as needed.
UNIFORMS
All employees, with the exception of some administrative staff, are supplied with
uniforms identifying them as Hall of Fame staff. This line item reflects the
weekly charge for Housekeeping and Maintenance and shirts for the Cashiers
and the A/V staff.
SALT
Budgeted amount includes salt for water softeners and salt for the sidewalks
during winter months.
Page 11
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
COLLECTION SUPPLIES
These supplies are for the use of the Director of Collections to maintain all
collections for the Hall of Fame.
OTHER SUPPLIES
Following is an itemized list of each department and the amount requested for
1997:
Administrative $2,000
Security 300
Audio Visual 5,000
Maintenance & Housekeeping 500
The Audio Visual Department includes the purchase of tapes for the You Call
the Play. No tapes were purchased in 1996. This item totals $4,500.
A/V LAMPS
This line item is for slide projector lamps, exhibit lighting lamps and video
projector lamps.
FLAGS PENNANTS
This line item is for replacement flags and pennants for the Gridiron Plaza. We
estimate purchasing two pennants per year for each of the 108 Division 1-A
schools plus two U.S. Flags and two State of Indiana Flags. must increase this
line item to reflect the cost of purchasing two sets of pennants per year.
OTHER SERVICES
All service budget figures are based on actual expenses to date and
projections for the remainder of the year.
POSTAGE
This budget includes quarterly payments for the rental of the postage meter.
TRAVEL
Travel is broken down into three categories as follows:
Page 12
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
Traveling RV $ 7,000
Executive Director 21,500
Staff 5,000
TELEPHONE
This line item is just an estimate. The Hall of Fame is to reimburse the City on a
monthly basis for telephone expenses.
PRINTING
This budget includes any day to day non-promotional printing needs
PUBLICATIONS/LEGAL NOTICES
This budgeted item includes classified ads for employment.
PROMOTION AND TRAINING
This item is for local promotion not included in the Marketing funds provided by
the Hotel/Motel Tax Board. It includes entertaining and meeting with potential
customers of the Hall of Fame. It also includes training for the Hall Staff, e. g.,
A/V training at Ampro in California. Three major categories are as follows:
Professional Development & Training $ 5,000
Promotion 10,000
Public & Community Relations 5,000
MARKETING
The Marketing Budget for 1997 is projected at $400,000. This includes
$300,000 from the Hotel/Motel Tax Board and an additional $100,000 from
Contributed Capital. A separate and detailed Marketing Plan has been prepared
for the year.
INSURANCE
Liability insurance on the facility and it's contents.
UTILITIES
The budgeted amounts for Electric, Gas and Water are based on actual
expenses to date and projections for the remainder of the year. In the latter part
Page 13
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
of 1996 the Water Bill has increased. This increase is reflected in our 1997
projection.
BUILDING REPAIRS
This line item includes items such as doors, carpeting, drywall, painting,
flagpoles, windows and etc..
EQUIPMENT REPAIR
Over and above estimated annual repairs totaling $9,000, $20,000 has been
added to repaint the RV and maintain on a monthly basis. This category also
includes $27,000 to the Audio Visual Department. This is the estimate to
maintain or repair the Ampro projectors.
EQUIPMENT RENTAL
This item is for any AN equipment needed for events in the Press Box. We
have also budgeted for tenting on the Gridiron Plaza.
DUES AND SUBSCRIPTIONS
This budget item is for all magazines and publications needed for the Reference
and Research Library at the Hall of Fame. It also includes annual dues to all
organizations staff members are affiliated with in conjunction with Hall of Fame
activities.
OTHER CONTRACTUALS
The majority of the items in this category are ordinary monthly services for the
day to day operation of the Hall of Fame. Several items need further
clarification.
Security costs are based on 28 hours per week for regular building security. The
rate for 1997 is $9.00 per hour. We are estimating 500 special security hours for
the use of the Press Box and the Gridiron Plaza. The rate for special security is
$9.50 per hour. The special security is reflected in Miscellaneous Revenue,
since clients are billed for this service.
An amount of $50,000 has been budgeted to reimburse Century Center for the
Management Fees due per a signed contract between the City, Center and the
NFF.
Page 14
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
Per contract, a license fee of $10,000 will be due the NFF in 1996.
Annual Maintenance Contracts on the major equipment in the building are as
follows:
Chillers $1,500
Elevator 1, 860
HVAC 5,000
We have also added an amount of $5,000 for Special Events. These expenses
are in association with Hall of Fame promotional events held in the Press Box or
on the Gridiron Plaza.
Miscellaneous Contractuals has been increased to reflect the first year
payments for Lease Purchases in 1996. They total payments of $11,676
annually for 5 years. The payments are for the City funding the Press Box
lighting and Library shelving.
VOLUNTEER PROGRAM
The volunteer work-force is an important cost saving element of the Hall of
Fame. Costs for the program include training, travel (seminars and recruiting),
shirts (1/2 of the cost subsidized by the volunteers themselves), professional
publications and recognition incentives and awards (volunteer dinner, e.g.).
ANNUAL UPDATE
The annual update includes updates for the Hall of Champions, Scholar-Athlete,
Pantheon, Bowl Games, National Champions, Hall of Honor, NFF Chapter
Exhibit, Training Center, Locker Room, Theme Sculpture and Stadium Theatre.
CAPITAL
Following is a detailed list of capital equipment requests for 1997:
Portable Radios
Additional Camera's for Surveillance
Work Station -Maintenance Department
Re Heat Coil
Electrical Cords {Outside Events)
Tables and Chairs
Library Furniture
A/V Backup Computer
$ 900
10,000
1,750
3,000
2, 500
35,000
2,000
2,500
Page 15
., .~ •,
COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
AN 2 Yr. Slide Replacement 15,310
Completion of Conference Room 3,040
FINANCING
INTEREST EXPENSE
The annual budget is based on outstanding principal on the bonds of
$17,950,000 multiplied by the average variable interest rate which is estimated
at 4.5% for 1997. The interest rate should be evaluated every year for changes
in the bond market. A rate cap of 7% has been purchased on the bonds.
LETTER OF CREDIT FEES
This line item represents annual fees related to the letter of credit and
reimbursement agreement between the Redevelopment Authority and Fuji Bank.
The letter of credit terms include an annual fee of .45% of the outstanding bonds
of $17,950,000 which is $80,775. The budget for letter of credit fees should be
evaluated annually for revisions in terms or new letter of credit providers.
LETTER OF CREDIT TRANSACTION FEES
This line item represents fees that are charged for administrating the letter of
credit which include transfer fees, negotiation fees and amendment fees per the
letter of credit and reimbursement agreement.
REMARKETING FEES
This line item represents annual fees related to the remarketing agreement
between the Redevelopment Authority and First Capital Markets, Inc. in
connection with the bond issue. The remarketing agreement terms include an
annual fee of .125% of the outstanding bonds of $17,950,000 which is $22,438.
The budget for remarketing fees should be evaluated annually for revisions in
terms or new providers.
TRUST FEES
This line item represents estimated annual trustee fees for administrating the
trust accounts per the trust agreement with Norwest Bank.
Page 16
r .,, ~
• COLLEGE FOOTBALL HALL OF FAME
NOTES
REVENUE AND EXPENSE BUDGET
1997
OTHER FINANCING FEES
This line item includes other bond related fees such as bond rating updates and _ _ _.
other miscellaneous expenses.
ACCOUNTING AND CONSULTING FEES
This line item represents fees for accounting service, audit fees, budgetary and
financial proforma and other professional fees. This line should be evaluated
every year.
Page 17
COMMITTEE REPORT
TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND:
Your Committee
to whom was referred
BILL NO.
103-96 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND
APPROPRIATING MONIES FOR THE PURPOSE OF DEFRAYING THE
EXPENSES OF THE COLLEGE FOOTBALL HALL OF FAME OF THE CITY
OF SOUTH BEND, INDIANA, FOR THE FISCAL YEAR BEGINNING
JANUARY 1, 1997, AND ENDING DECEMBER 31, 1997, INCLUDING
ALL OUTSTANDING CLAIMS AND OBLIGATIONS, AND FIXING A TIME
WHEN THE SAME SHALL TAKE EFFECT
Respectfully report that they have examined the matter and that in their opinion, this bill
has been recommend to the Council favorably, as amended by substitution.
Sean Coleman
Chairman
3,~ ~ / O ,
~~.
U \~\ ~•'
~ , ~ , v!
x x
L~ 1865 ;"'~~.
?,»,. ,
City of South Bend
Joseph E. Kcrnan, Mayor
Department of Administration and Finance
Kevin C. Horton
DATE: November 25, 1996
TO: Mr. Roland Kelly,
Council President
FROM : Jeff Kinard, ~~
Deputy City Controller
RE: College Football Hall of Fame 1997 Budget
Attached is the 1997 Hall of Fame budget with supporting detail. This format is consistent
with the 1996 revised budget, which is also being submitted for consideration. We look
forward to making the presentation to council. Please call me if you need any additional
information. (235-9124)
c=ited in Ct~rt~'~ ~~~~+.ie
..~,,..- .,y u}F; ~ i.~ , r.
Ci(7 }vl.L':f•`tiir~i.~.ldds:lf."p .. .
County-City Building • South Bend, Indiana 46601 • 219/235-9216 Fax 219/235-9928
Catherine A. Hubbard Jeffrey A. Kinard Isabel Gonzalez Ronalda Minnis Gatha Vaughn
Director Human Resources Finance Director Safety & Risk Manager Benefits Manager Barrett Law