HomeMy WebLinkAbout2018-09-21 (1) 2019 Budget Overview as of 9-21-18City of South Bend
2019 Budget Summary
Cash Balance 2019 2019 Surplus Cash Balance
Fund Group 1/1/2019 Revenues Expenditures (Deficit) 12/31/2019
General Plus Funds 58,205,653 98,654,560 98,605,542 49,018 58,254,672
Special Revenue Funds - A 29,197,514 38,993,815 46,311,910 (7,318,095) 21,879,418
Internal Service Funds - B 16,781,375 34,286,040 38,560,582 (4,274,542) 12,506,834
Grant & Donation Funds - spend down to zero 1,941,928 4,458,586 5,362,511 (903,925) 1,038,003
Trust & Agency Funds 4,609,136 11,577,588 11,468,359 109,229 4,718,365
Capital Funds - spend down to zero 13,836,543 14,856,104 18,891,874 (4,035,770) 9,800,773
TIF & Redevelopment Commission Funds - C 26,738,561 28,586,021 34,181,000 (5,594,979) 21,143,583
Enterprise Funds - D 25,625,815 83,637,588 87,957,232 (4,319,644) 21,306,171
Bond & Debt Related Funds - spend down to zero 20,834,795 20,986,601 26,858,699 (5,872,098) 14,962,697
Grand Total 197,771,320$ 336,036,903$ 368,197,709$ (32,160,806)$ 165,610,516$
September 19, 2018
NOTE: Governmental accounting is unique. A "deficit" doesn't mean the City is spending more money than it has in the bank. It simply means
the City is spending more money than it anticipates bringing in during the year. The result is spending down cash reserves. Some funds' cash
reserves are meant to be spent down to zero, such as bond and capital funds and grant & donation funds. Other funds hold cash reserves
equal to a percent of the fund's annual budget. When cash reserves are higher than the percent requirement, the City can spend down those
rerserves. Debt proceeds received in 2018 will be spent in 2019 on planned capital and infrastructure projects.
A - Special Revenue Funds - spend down in this category relates mainly to the unexpected decrease in estimated revenues from the State for
gas tax. Due to plans for major capital projects in the works for 2019, the City will spend down the MVH fund in order to complete the large
capital project. This fund will be reviewed closely during 2019 and future large capital projects will be prioritized based on the actual revenue
received in 2019 and beyond.
B - Internal Service Funds - spend down in this category relates mainly to the Self Funded Employee Benefits fund. Cash has accumulated
in this fund over time due to several years of lower than anticipated claims (due in part to the near-site health and wellness center).
Therefore, the decision was made to use cash that was previously appropriated to offset expenses in 2019 in lieu of charging departments the
full estimated burden in 2019. The cash reserves remain strong in this fund despite the spend down in 2019.
C - TIF (Tax Increment Financing) and Redevelopment Commission Funds - These funds are spent on capital projects as they arise. Funds
unspent in one year stay in the fund for future use. TIF proceeds received in 2018 will be spent in 2019 on planned capital and infrastructure
projects.
D - Enterprise Funds - spend down in this category is due mainly to the Water and Wastewater funds. Many capital projects are funded
through these funds, many of which are budgeted in one year that do not get completed until the next year. Because the City is on a cash
basis, the budget does not get "used" until the cash is spent. Water and Wastewater funds also have stand alone operations and
maintenance reserve funds due to bond requirements. Those reserves along with the reserves in the actual operations funds remain strong.
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City of South Bend 2019 Budget Overview 2019 Proposed BudgetCash Balance20192019Surplus Cash Balance1/1/2019Revenues Expenditures (Deficit) 12/31/2019General Plus Funds - funded by property taxes and local income taxes101 GENERAL FUND36,122,480 64,677,205 64,677,205 - 36,122,480 249 PUBLIC SAFETY L.O.I.T.1,007,374 8,566,555 8,566,555 - 1,007,374 404 COUNTY OPTION INCOME TAX8,439,901 13,133,294 13,133,294 - 8,439,901 408 ECONOMIC DEVELOPMENT INCOME TAX12,635,899 12,277,506 12,228,488 49,018 12,684,917 Total 58,205,653 98,654,560 98,605,542 49,018 58,254,672 Special Revenue Funds102 RAINY DAY FUND10,454,137 160,000 - 160,000 10,614,137 201 PARKS & RECREATION7,364,307 18,392,354 20,376,632 (1,984,278) 5,380,029 202 MOTOR VEHICLE HIGHWAY5,468,568 10,506,103 14,345,948 (3,839,845) 1,628,723 211 DEPARTMENT OF COMMUNITY INVESTMENT696,710 3,059,369 3,059,369 - 696,710 216 POLICE STATE SEIZURES194,567 32,000 32,000 - 194,567 218 POLICE CURFEW VIOLATIONS12,220 300 1,000 (700) 11,520 219 UNSAFE BUILDING FUND325,258 862,691 862,691 - 325,258 220 LAW ENFORCEMENT CONTINUING EDUCATION263,705 281,500 410,500 (129,000) 134,705 221 LANDLORD REGISTRATION14,755 1,000 500 500 15,255 227 LOSS RECOVERY FUND340,603 4,000 225,000 (221,000) 119,603 251 LOCAL ROADS & STREETS2,223,148 4,545,689 5,730,000 (1,184,311) 1,038,837 257 L.O.I.T. SPECIAL DISTRIBUTION192,676 227,500 65,000 162,500 355,176 258 HUMAN RIGHTS FEDERAL GRANT578,906 167,400 234,988 (67,588) 511,318 273 MORRIS PAC / PALAIS ROYALE MARKETING57,989 15,800 30,000 (14,200) 43,789 274 MORRIS PAC / SELF-PROMOTION81,000 125,400 75,000 50,400 131,400 289 HAZMAT27,786 10,200 10,000 200 27,986 291 INDIANA RIVER RESCUE100,559 72,500 102,800 (30,300) 70,259 294 REGIONAL POLICE ACADEMY92,973 22,500 22,500 - 92,973 299 POLICE FEDERAL DRUG ENFORCEMENT131,429 51,000 51,000 - 131,429 655 PROJECT RELEAF573,313 454,489 674,962 (220,473) 352,840 705 POLICE K-9 UNIT2,904 2,020 2,020 - 2,904 Total 29,197,514 38,993,815 46,311,910 (7,318,095) 21,879,418 September 19, 2018Please refer to individual department budget summary packages for further information 2 of 6
City of South Bend 2019 Budget Overview 2019 Proposed BudgetCash Balance20192019Surplus Cash Balance1/1/2019Revenues Expenditures (Deficit) 12/31/2019September 19, 2018Internal Service Funds222 CENTRAL SERVICES1,017,379 9,450,814 9,317,737 133,077 1,150,456 226 LIABILITY INSURANCE3,035,843 3,973,197 3,992,783 (19,586) 3,016,257 278 TAKE HOME VEHICLE POLICE755,425 4,000 50,000 (46,000) 709,425 279 IT / INNOVATION / 311 CALL CENTER1,422,547 8,046,393 8,351,968 (305,575) 1,116,972 711 SELF-FUNDED EMPLOYEE BENEFITS10,402,045 12,636,190 16,622,400 (3,986,210) 6,415,835 713 UNEMPLOYMENT COMPENSATION147,977 2,000 70,000 (68,000) 79,977 714 PARENTAL LEAVE FUND160 173,446 155,694 17,752 17,912 Total 16,781,375 34,286,040 38,560,582 (4,274,542) 12,506,834 Grant & Donation Funds - spend down to zero212 DEPT OF COMMUNITY INVESTMENT GRANTS481,537 2,911,000 2,911,000 - 481,537 217 GIFT, DONATION, BEQUEST109,720 25,800 47,500 (21,700) 88,020 209 STUDEBAKER-OLIVER REVITALIZING GRANTS655,830 110,000 750,000 (640,000) 15,830 210 ECONOMIC DEVELOPMENT STATE GRANTS233,506 73,511 302,011 (228,500) 5,006 265 LOCAL ROAD & BRIDGE GRANT237,943 1,200,000 1,200,000 - 237,943 280 POLICE BLOCK GRANTS3,962 35 - 35 3,997 292 POLICE GRANTS48,451 - - - 48,451 295 COPS MORE GRANT141,503 92,000 92,000 - 141,503 410 URBAN DEVELOPMENT ACTION GRANT29,476 46,240 60,000 (13,760) 15,716 Total 1,941,928 4,458,586 5,362,511 (903,925) 1,038,003 Trust & Agency Funds701 FIREFIGHTERS PENSION574,841 5,217,138 5,112,457 104,681 679,522 702 POLICE PENSION308,414 6,360,200 6,355,902 4,298 312,712 718 STATE TAX WITHHOLDING FUND433,998 - - - 433,998 725 MORRIS/PALAIS BOX OFFICE2,446,226 - - - 2,446,226 726 POLICE DISTRIBUTIONS PAY841,894 - - - 841,894 730 CITY CEMETERY TRUST FUND3,763 250 - 250 4,013 Total 4,609,136 11,577,588 11,468,359 109,229 4,718,365 Please refer to individual department budget summary packages for further information 3 of 6
City of South Bend 2019 Budget Overview 2019 Proposed BudgetCash Balance20192019Surplus Cash Balance1/1/2019Revenues Expenditures (Deficit) 12/31/2019September 19, 2018Capital Funds - spend down224 CENTRAL SERVICES CAPITAL118,563 376,200 375,000 1,200 119,763 287 EMS/FIRE CAPITAL2,685,400 1,130,695 2,665,512 (1,534,817) 1,150,583 401 COVELESKI STADIUM CAPITAL8,862 44,250 40,000 4,250 13,112 406 CUMULATIVE CAPITAL DEVELOPMENT641,946 473,444 818,121 (344,677) 297,269 407 CUMULATIVE CAPITAL IMPROVEMENT430,948 235,296 28,000 207,296 638,244 412 MAJOR MOVES CONSTRUCTION855,259 520,678 1,200,000 (679,322) 175,937 416 MORRIS PERFORMING ARTS CENTER CAPITAL363,115 143,500 217,000 (73,500) 289,615 450 PALAIS ROYALE HISTORIC PRESERVATION82,771 19,100 75,000 (55,900) 26,871 611 SOLID WASTE CAPITAL40,795 1,133,416 1,132,616 800 41,595 622 WATER WORKS CAPITAL951,432 3,376,000 3,766,000 (390,000) 561,432 642 SEWAGE WORKS CAPITAL1,848,171 5,365,000 6,520,000 (1,155,000) 693,171 671 CENTURY CENTER CAPITAL846,253 900 20,000 (19,100) 827,153 750 EQUIPMENT/VEHICLE LEASING4,963,028 2,037,625 2,034,625 3,000 4,966,028 Total 13,836,543 14,856,104 18,891,874 (4,035,770) 9,800,773 TIF & Redevelopment Commission Funds324 TIF - RIVER WEST DEVELOPMENT AREA (AIRPORT)10,303,236 17,565,949 18,000,000 (434,051) 9,869,185 422 TIF - WEST WASHINGTON848,024 324,425 900,000 (575,575) 272,449 429 TIF - RIVER EAST DEVELOPMENT AREA (NE DEV)4,314,580 2,865,805 5,100,000 (2,234,195) 2,080,385 430 TIF - SOUTHSIDE DEVELOPMENT #12,718,208 2,259,283 4,000,000 (1,740,717) 977,491 433 REDEVELOPMENT ADMINISTRATION GENERAL1,003,064 1,071,356 1,074,000 (2,644) 1,000,420 436 TIF - RIVER EAST RESIDENTIAL (NE RES)3,596,207 4,274,716 4,275,000 (284) 3,595,923 439 CERTIFIED TECHNOLOGY PARK624,013 8,487 625,000 (616,513) 7,500 454 AIRPORT URBAN ENTERPRISE ZONE341,124 6,000 50,000 (44,000) 297,124 754 INDUSTRIAL REVOLVING FUND2,990,106 210,000 157,000 53,000 3,043,106 Total 26,738,561 28,586,021 34,181,000 (5,594,979) 21,143,583 Please refer to individual department budget summary packages for further information 4 of 6
City of South Bend 2019 Budget Overview 2019 Proposed BudgetCash Balance20192019Surplus Cash Balance1/1/2019Revenues Expenditures (Deficit) 12/31/2019September 19, 2018Enterprise Funds288 EMS/FIRE OPERATING594,814 6,175,320 6,405,946 (230,626) 364,188 600 CONSOLIDATED BUILDING FUND1,469,255 4,774,198 4,668,760 105,438 1,574,693 601 PARKING GARAGES1,244,751 1,287,735 1,871,794 (584,059) 660,692 610 SOLID WASTE OPERATIONS581,709 5,515,200 5,513,906 1,294 583,003 620 WATER WORKS OPERATIONS2,567,074 20,875,819 21,831,796 (955,977) 1,611,097 624 WATER WORKS CUSTOMER DEPOSIT1,518,552 22,000 22,000 - 1,518,552 629 WATER WORKS RESERVE O&M2,670,170 266,000 41,000 225,000 2,895,170 640 SEWER REPAIR INSURANCE1,870,689 652,238 633,113 19,125 1,889,814 641 SEWAGE WORKS OPERATIONS6,313,445 38,177,405 41,184,104 (3,006,699) 3,306,746 643 SEWAGE WORKS RESERVE O&M5,441,084 84,000 84,000 - 5,441,084 667 STORM SEWER FUND- 1,253,298 1,200,000 53,298 53,298 670 CENTURY CENTER OPERATIONS1,354,272 4,554,375 4,500,813 53,562 1,407,834 Total 25,625,815 83,637,588 87,957,232 (4,319,644) 21,306,171 Bond & Debt Related Funds - spend down to zero313 HALL OF FAME DEBT SERVICE- - - - - 312 2017 PARKS BOND DEBT SVC110,447 1,119,404 1,181,143 (61,739) 48,708 315 REDEVELOPMENT BOND - AIRPORT TAXABLE1,040,462 14,000 14,000 - 1,040,462 317 COVELESKI DEBT SERVICE RESERVE522,990 2,010 525,000 (522,990) - 328 REDEVELOPMENT BOND - PALAIS ROYALE1,739,495 20,000 20,000 - 1,739,495 351 2018 TIF PARK BOND DEBT SVC RESERVE993,495 1,000 - 1,000 994,495 377 PROFESSIONAL SPORTS DEVELOPMENT152,952 545,000 354,770 190,230 343,182 451 2018 FIRE ST 9 CAPITAL- - - - - 452 2018 TIF PARK BOND CAPITAL2,100,000 50,000 2,150,000 (2,100,000) - 471 2017 PARKS BOND CAPITAL3,689,858 3,000 3,479,400 (3,476,400) 213,458 626 WATER WORKS BOND RESERVE1,426,658 22,000 22,000 - 1,426,658 625 WATER WORKS SINKING FUND28,105 2,025,041 2,025,041 - 28,105 649 SEWAGE WORKS SINKING FUND933,534 7,816,676 7,780,676 36,000 969,534 653 SEWAGE WORKS DEBT SERVICE RESERVE4,190,049 42,000 - 42,000 4,232,049 672 CENTURY CENTER ENERGY SAVINGS172,269 415,464 416,424 (960) 171,309 751 2015 PARKS BOND CAPITAL139,194 - - - 139,194 752 SOUTH BEND REDEVELOPMENT AUTHORITY526,403 2,872,200 2,861,269 10,931 537,334 755 SOUTH BEND BUILDING CORP777,486 2,636,750 2,634,750 2,000 779,486 757 2015 PARKS BOND DEBT SERVICE558,768 380,431 383,732 (3,301) 555,467 Please refer to individual department budget summary packages for further information 5 of 6
City of South Bend 2019 Budget Overview 2019 Proposed BudgetCash Balance20192019Surplus Cash Balance1/1/2019Revenues Expenditures (Deficit) 12/31/2019September 19, 2018756 SMART STREETS DEBT SERVICE1,724,701 1,718,000 1,711,369 6,631 1,731,332 759 EDDY STREET COMMONS CAPITAL1,949 2,000 - 2,000 3,949 760 EDDY STREET COMMONS DEBT SERVICE5,980 1,301,625 1,299,125 2,500 8,480 Total 20,834,795 20,986,601 26,858,699 (5,872,098) 14,962,697 Grand Total 197,771,320 336,036,903 368,197,709 (32,160,806) 165,610,516 Please refer to individual department budget summary packages for further information 6 of 6