HomeMy WebLinkAbout2023 Year End Admin & Finance Report Filed in Clerk's Ofii
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2023 Year End Admin&Finance Report �. ,/
Bianca Tirado
City Clerk, South Bend, IN
2023 Operating Results
• General Plus Fund Cash Reserves
o Total Amount as of 12/31/2023: $124,675,935
o Total Amount as of 12/31/2022: $131,238,112
o Decrease of about$6.5m in Gen Plus Fund Balance, still more than double the Gen
Plus cash balance 10 years ago ($56.2m). $135m+Total Gen Plus fund balance if
you include the Rainy-Day Fund.
• Bond Rating
o AA—Standard &Poor's
• Signifies strong financial position.
• Reflects strong property and income taxes that support the General Fund
operations.
• Continued investment in capital assets for 2023.
o Net Capital Assets Value: $486,711,345 (Total value after 2023 additions and
depreciation of assets)
• Staffing
o New Hires: 378 (98 Full-Time)
o Total Employees: 1,429
• Full-Time: 1,129
• Part-Time: 172
• Seasonal: 128