HomeMy WebLinkAbout01-2017 Controller's Trustee Cash ReportPeriod Ending:January 31, 2017
Issued By:Administration/Finance
City of South Bend
Controller's Trustee Cash Report
Page Contents
2 Purpose & Narrative
3 Summary
4 Graph of Cash Balances
Distribution
Mayor Pete Buttigieg
Chief of Staff James Mueller
Deputy Chief of Staff Suzanna Fritzberg
Common Council
Department Heads
Fiscal Officers
Controller John Murphy
Deputy Controller Jennifer Hockenhull
Director of Treasury Rahman Johnson
Sr Budget Analyst Amy O'Connor
Administration Finance 2/27/2017 Page 2
Purpose of Report
Current Activity
If you should have any questions regarding this report, please contact John Murphy, City Controller
(574) 235-7678, Jennifer Hockenhull, Deputy City Controller (574) 235-9822, or Rahman Johnson,
City Director of Treasury (574) 235-5921.
The City of South Bend maintains certain cash balances with bank trustees in connection with bond and
capital lease financing agreements that have been approved by the Common Council, Redevelopment
Commission, and the Board of Public Works. The cash reserves are restricted and may not be used for
general city operations. Rather, trustee cash reserves must be used as provided for in the debt
documents including for capital projects, debt service payments, debt service reserves and operating
reserves The bank trustee accounts are also used for the defeasance of prior debt that has been
refunded. The primary bank trustees used by the city are US Bank and Wells Fargo Bank. The debt
service payments on bonds and capital leases are included in the regular city budget.
The current trustee cash accounts include capital project money for the Smart Streets bond and the
Parks/EDIT bond. Cash in capital project accounts is spent down as work is completed on projects.
Trustee cash accounts also includes proceeds from lease purchase agreements for the replacement of
certain city vehicles and equipment on a regular basis.
Administration Finance 2/27/2017 Page 3
City of South Bend, Indiana
Trustee Cash Summary
January 31, 2017
Beginning YTD YTD Ending
Name Purpose Entity Trustee Fund Cash Receipts Disbursements Cash
2012 Police/Fire Building Refunding Sinking Fund Building Corporation US Bank 755 61.80 786,000.02 0.00 786,061.82
2012 Police/Fire Building Refunding Operating & Repair Building Corporation US Bank 755 23,941.92 7.08 0.00 23,949.00
2012 Police/Fire Building Refunding Reserve Fund Building Corporation US Bank 755 3,887.07 1.15 0.00 3,888.22
2013 EMS Revenue Bond Sinking Fund Building Corporation US Bank 755 7.81 204,366.10 0.00 204,373.91
2013 EMS Revenue Bond Operating & Reserve Building Corporation US Bank 755 116,703.04 9.88 0.00 116,712.92
2013 EMS Revenue Bond Reserve Fund Building Corporation US Bank 755 0.00 0.00 0.00 0.00
2013 EMS Revenue Bond Construction Fund Building Corporation US Bank 755 116.09 0.01 116.10 0.00
2013 EMS Revenue Bond Bond Interest Account Building Corporation US Bank 755 0.00 0.00 0.00 0.00
2010 BPW Building Refunding Debt Service Reserve Fund Building Corporation Wells Fargo 755 607,504.83 17.49 17.49 607,504.83
2010 BPW Building Refunding Sinking Fund Building Corporation Wells Fargo 755 20.30 336,517.49 0.00 336,537.79
2010 BPW Building Refunding Operating & Reserve Building Corporation Wells Fargo 755 9,845.74 0.54 0.00 9,846.28
Total Building Corporation 762,088.60 1,326,919.76 133.59 2,088,874.77
2015 Parks/EDIT Bond Bond Retirement Account City of South Bend US Bank 757 164,263.42 65,128.79 0.00 229,392.21
2015 Parks/EDIT Bond Debt Service Reserve Fund City of South Bend US Bank 757 397,679.52 33.68 0.00 397,713.20
2015 Parks/EDIT Bond Construction Fund City of South Bend US Bank 751 4,337,198.79 368.77 63,155.82 4,274,411.74
2015 PNC Bank Vehicle/Equipment Lease City of South Bend US Bank 750 371,957.01 31.50 0.00 371,988.51
2016 Public-Finance.com (Lease #1)Vehicle/Equipment Lease City of South Bend US Bank 750 299,849.05 36.64 115,154.71 184,730.98
2016 PNC Equipment Finance (Lease #2)Vehicle/Equipment Lease City of South Bend US Bank 750 1,494,370.71 126.91 867,887.00 626,610.62
2016 PNC Equipment Finance (Lease #3)Vehicle/Equipment Lease City of South Bend US Bank 750 1,011,716.73 103.06 0.00 1,011,819.79
2016 Waterworks Bond Refunding Cost of Issuance Fund City of South Bend US Bank 750 53,250.37 0.00 40,500.00 12,750.37
Total City of South Bend 8,130,285.60 65,829.35 1,086,697.53 7,109,417.42
2005 Erskine Village Bonds Reserve Fund Redevelopment Authority Wells Fargo 758 561,115.03 30.71 0.00 561,145.74
2005 Erskine Village Bonds Principal & Interest Redevelopment Authority Wells Fargo 758 1.78 3,961,666.72 0.00 3,961,668.50
2008 Eddy Street Commons Sinking Fund Redevelopment Authority US Bank 752 0.00 0.00 0.00 0.00
2008 Eddy Street Commons Debt Service Reserve Fund Redevelopment Authority US Bank 752 60.03 0.02 0.00 60.05
2008 Eddy Street Commons Excess Fund Redevelopment Authority US Bank 752 0.24 0.00 0.00 0.24
2011 Century Center Refunding Sinking Fund Redevelopment Authority US Bank 752 598.72 245,500.18 0.00 246,098.90
2011 Century Center Refunding Operating & Reserve Fund Redevelopment Authority US Bank 752 18,000.19 5.32 0.00 18,005.51
2011 Century Center Refunding Reserve Fund Redevelopment Authority US Bank 752 298,354.92 88.23 0.00 298,443.15
2011 Hall of Fame Refunding Sinking Fund Redevelopment Authority US Bank 313 28.40 635,000.01 0.00 635,028.41
2011 Hall of Fame Refunding Operations & Reserve Redevelopment Authority US Bank 313 19,375.18 5.73 0.00 19,380.91
2013 Century Center Refunding Operation & Reserve Redevelopment Authority US Bank 752 174,124.41 51.49 0.00 174,175.90
2013 Century Center Refunding Sinking Fund Redevelopment Authority US Bank 752 16.78 0.00 0.00 16.78
2013 Century Center Refunding Reserve Fund Redevelopment Authority US Bank 752 0.00 0.00 0.00 0.00
2015 Eddy Street Commons Refunding Sinking Fund Redevelopment Authority US Bank 752 8,166.39 2.42 0.00 8,168.81
2015 Eddy Street Commons Refunding Operations & Reserve Redevelopment Authority US Bank 752 0.00 0.00 0.00 0.00
2015 Smart Streets Bond Sinking Fund Redevelopment Authority US Bank 756 1,012.82 0.09 0.00 1,012.91
2015 Smart Streets Bond Operating & Reserve Redevelopment Authority US Bank 756 0.00 0.00 0.00 0.00
2015 Smart Streets Bond Reserve Fund Redevelopment Authority US Bank 756 1,711,759.20 144.98 0.00 1,711,904.18
2015 Smart Streets Bond Construction Fund Redevelopment Authority US Bank 753 5,929,453.38 604.16 986,651.60 4,943,405.94
2015 Smart Streets Bond Bond Interest Account Redevelopment Authority US Bank 756 395,668.39 33.51 0.00 395,701.90
2009 Morris PAC Refunding Debt Service Reserve Fund Redevelopment Authority Wells Fargo 752 721,011.86 20.75 20.75 721,011.86
2009 Morris PAC Refunding Operations & Reserve Redevelopment Authority Wells Fargo 752 12,435.85 21.11 0.00 12,456.96
2009 Morris PAC Refunding Sinking Fund Redevelopment Authority Wells Fargo 752 0.00 527,000.00 0.00 527,000.00
Total Redevelopment Authority 9,851,183.57 5,370,175.43 986,672.35 14,234,686.65
Totals 18,743,557.77 6,762,924.54 2,073,503.47 23,432,978.84
Administration Finance 2/27/2017 Page 4
Entity Cash Balance Percent
Building Corporation 2,088,875$ 8.91%
City of South Bend 7,109,417 30.34%
Redevelopment Authority 14,234,686 60.75%
Total 23,432,978$ 100.00%
January 31, 2017
Redevelopment Authority includes the 2015 Smart Streets bond capital
fund with a balance of $4.9 million dollars remaining in the fund at
January 31, 2017.
City of South Bend includes the 2015 Parks/EDIT bond capital fund with
a balance of $4.3 million dollars remaining in the fund at January 31,
2017.
Trustee Cash Balances
Building
Corporation
City of South
Bend
Redevelopment
Authority