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Home My WebLink About10060-10 Creating- Community and Economic Development Adminstration Fund (#211)ORDINANCE No. 5~~~ Passed by the Common Council of the Ciry of South Bend, Indiana December 13, Attest: Attest: Presented by me to the Mayar of the Ciry of South Bend, Indiana December 14, 20 10 JOHN 20 10 City Clerk President of Common Council Approved and signed by me ~ ~ ~ 20 ~~ JOHN %~-'' / / ("/`~'`~~' Mir City Clerk ORDINANCE NO. ~ ~ 1"~ ~ ~'~ AN ORDINANCE OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, CREATING A COMMUNITY AND ECONOMIC DEVELOPMENT ADMINISTRATION FUND (#211) STATEMENT OF PURPOSE AND INTENT For many years, the administration of the City of South Bend Community and Economic Development Department ("Department") has been accounted for in Fund 212 -Community and Economic Development Fund. In addition to the costs of operating the Department, Fund 212 has also been used to account for Community Development Block Grant, Neighborhood Stabilization Program, Homeless Prevention and Rapid Re-housing Program and a variety of other federal grant programs. Thus, it is in the best interest of the City to establish a new Community and Economic Development Administration Fund (#211), which will account exclusively for the personnel, supply, services and capital costs of running the Department. The accounting for grant monies and other federal assistance will remain in Fund 212. The Community and Economic Development Administration Fund (#211) will be classified in the annual financial report as a special revenue Fund and will receive funding from transfers in, charges for services and other revenue sources. The new Fund 211 will be anon-reverting fund and will earn interest on outstanding cash balances. The Fund will be subject to appropriation by the City of South Bend Common Council. The 2011 budget for Fund 211 was passed by the Common Council on October 25, 2010. In January 2011, City of South Bend accounting staff will determine the proper distribution of cash balances, as of January 1, 2011, to Funds 211 and 212 based on grant and other accounting and legal requirements. NOW, THEREFORE, BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA as follows: SECTION I . A Community and Economic Development Administration Fund (#211) is created to account for the personnel, supply, services and capital costs of operating the Department of Community and Economic Development. This Fund shall be non-reverting and shall earn interest on outstanding cash balances. The Fund will be subject to appropriation by the City of South Bend Common Council. SECTION II. The Community and Economic Development Administration Fund (#211) will be established effective January 1, 2011. In January 2011, City of South Bend accounting staff will determine the proper distribution of cash balances, as of January 1, 2011, to Funds 211 and 212 based on grant and other accounting and legal requirements. 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. M tuber, South Bend Common Council Atte . ity Cler Presented by me to the Mayor of the City of South Bend, Indiana on the ~ ~~ day of ~, 2 c~~~ , at 2.J~ o'clock~.m. ~~~~ City C rk ~ (~.~,~, Approved and signed by me on the ~f ~L day of ~.~~ , 2 0,+0 , at l~ o'clock, ~.m. ~~ Mayor, City o outh Bend, Indiana F:\DATA\SHARE\Legal\Wpdata\AMD\Ordinances\Fund 211 CED Administration Fund 111610.doc ,Sl ~~AD~~~ l 1-LL-~o PUELIC F-iEAP.ING ~ L- l 3 -~~ 3rd REt1D;r.G ~ L~l 3 - ~ ° P~v~7 l~FPROVED REf~%i:ED i t :,,,+ i •r t ~ ~ ~_._.~ i'.OV 1 7 ~^"" ~~ .. , `5 ~~:,;• ~ ClN "' ~ ...._o..._... . PASSED ~'L--~ 3 ~1.~ TO THE COMMON COUNCIL OF THE CITY OF SOUTH BEND: Your Committee of the Whole, to whom was referred: BILL NO. 77-10 A BILL OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, CREATING A COMMUNITY AND ECONOMIC DEVELOPMENT ADMINISTRATION FUND (#211) Respectfully report that they have examined the matter and that in their opinion, this bill is being recommended to the full Council with a favorable recommendation. Ann Puzzello Chairperson, Committee of the Whole COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, IN 46601 November 17, 2010 Soy TH 8 , 04 i-'~~r~~.., U ~ .~---~ ~ d =. `'' W~ PEACE ~~ -.~ ~~ ~~ ~~~~a~ x~ 1865 ; . CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR OFFICE OF ADMINISTRATION ~ FINANCE GREGG D. ZIENTARA, CITY CONTROLLER Mr. Derek Dieter President, South Bend Common Council 4th Floor, County-City Building South Bend, 1N 46601 PHONE 574-235-9216 FAx 574-235-9928 Re: Ordinance of the Common Council Creating a New Fund to Account for Community 8~ Economic Development Administration Dear President Dieter: For many years, the expense to fund the day to day operations and administration of the City of South Bend's Community and Economic Development Department ("Department") have been accounted for in Fund 212 -Community and Economic Development Fund. In addition to the costs of operating the Department, Fund 212 has also been used to account for specific program expense, including, Community Development Block Grant, Neighborhood Stabilization Program, Homeless Prevention and Rapid Re-housing Program and a variety of other federal and state grant programs. These program expenditures represent the majority of the monies expended from the Fund and operate under a different fiscal timing than that used by the city. Therefore, in order to affect a proper financial control of the expenditures of the department, it is in the best interest of the City to establish a new Community and Economic Development Administration Fund (#211), which will account exclusively for the personnel, supply, services and capital costs of running the Department. The accounting for grant monies and other federal and state assistance will remain in Fund 212. The Community and Economic Development Administration Fund (#211) will be classified in the annual financial report as a special revenue Fund and will receive funding from transfers in, charges for services and other revenue sources. The new Fund 211 will be anon-reverting Fund and will earn interest on outstanding cash balances. This Fund will be subject to appropriation by the City of South Bend Common Council. The 2011 budget for Fund 211 was passed by the Common Council on October 25, 2010. In January 2011, City of South Bend accounting staff will determine the proper distribution of cash balances, as of January 1, 2011, to Funds 211 and 212 based on grant and other accounting and legal requirements. 0~' President Dieter Page 2 November 17, 2010 1 will present this Bi11 to the Common Council at the appropriate Council Committee meeting, public hearing, and at the Council meeting. I am available to discuss any matters concerning this Bill at the convenience of the Council. Gregg D.~ ien ara cc: Stephen J. Luecke, Mayor of the City of South Bend