HomeMy WebLinkAbout2024-02- Monthly Financial ReportPeriod Ending:
Issued By:
City of South Bend
Monthly Financial Report
Page(s) Contents
2 Fund Guide
3 Narrative
4 - 5 Report of Changes in Cash Balance
6 - 8 Projected Cash Balance
9 - 12 Cash Reserves Summary
13 - 18 Revenue & Expense Summaries
19 - 25 Revenue by Type
26 - 29 Expenditures by Activity
30 - 31 Outstanding Debt
32 - 36 Employee Headcount
Fund Summaries
37 - 58 General Fund
59 - 83 Public Works Funds
84 - 102 Public Safety Funds
103 - 121 Venues, Parks & Arts Funds
122 - 134 Department of Community Investment Funds
135 - 141 Internal Service Funds
142 - 155 Administrative Funds
156 - 171 Redevelopment Commission Controlled Funds
Distribution
Mayor
Chief of Staff
Deputy Chief of Staff
Common Council
Department Heads
Directors of Department Finance
February 29, 2024
Controller's Office
Page # General Fund Page # Venues, Parks & Arts Funds
37 101 General Fund 103 201 Parks & Recreation
104 273 Morris PAC / Palais Royale Marketing
General Fund Departments/Divisions 105 274 Morris PAC Self-Promotion
39 Mayor 106 312 2017 Parks Bond Debt Service
40 Community Initiatives 107 401 Coveleski Stadium Capital
41 Community Police Review Office 108 413 Professional Sports Convention Develop. Area
42 City Clerk 109 416 Morris Performing Arts Center Capital
43 Common Council 110 450 Palais Royale Historic Preservation
44 Controller's Office 111 453 Zoo Bond Capital
45 Human Resources 112 471 2017 Parks Bond Capital
46 Diversity & Inclusion 113 601 Parking Garages
47 Human Rights 114 602 Morris Performing Arts Center Operations
48 Legal Department 115 Morris PAC Historical Budget Summary
49 Engineering 116 670 Century Center
50 Office of Sustainability 117 671 Century Center Capital
51 AmeriCorps Grant Program 118 672 Century Center Energy Conservation Debt Svc
52 Police Department 119 730 City Cemetery
53 Police Crime Lab 120 731 Bowman Cemetery
54 Fire Department 121 757 2015 Parks Bond Debt Service
55 Emergency Medical Services
56 Fire Training Center Dept of Community Investment Funds
57 Morris Performing Arts Center 122 209 Studebaker-Oliver Revitalizing Grants
58 Palais Royale Ballroom 123 210 Economic Development State Grants
124 211 Dept of Community Investment Operating
Public Works Funds 125 212 Dept of Community Investment Grants
59 202 Motor Vehicle Highway 126 219 Unsafe Building
60 266 MVH Restricted 127 221 Rental Units Regulation
61 Motor Vehicle Highway Combined Budget Summary 128 230 Code Enforcement
62 251 Local Road & Street 129 410 Urban Development Action Grant
63 257 LOIT Special Distribution 130 600 Consolidated Building
64 265 Local Road & Bridge Grant 131 754 Industrial Revolving Fund
65 412 Major Moves Construction 132 756 2015 Smart Streets Bond Debt Service
66 455 2021 Infrastructure Bond Capital 133 759 2017 Eddy Street Commons Bond Capital
67 610 Solid Waste Operations 134 760 2017 Eddy Street Commons Bond Debt Service
68 611 Solid Waste Capital
69 620 Water Works Operations Internal Service Funds
70 622 Water Works Capital 135 222 Central Services
71 624 Water Works Customer Deposit 136 224 Central Services Capital
72 625 Water Works Sinking (Debt Service)137 226 Liability Insurance
73 626 Water Works Bond Reserve 138 279 IT / Innovation / 311 Call Center
74 629 Water Works Operations & Maint. Reserve 139 711 Self-Funded Employee Benefits
75 640 Sewer Repair Insurance 140 713 Unemployment Compensation
76 641 Sewage Works Operations 141 714 Parental Leave
77 642 Sewage Works Capital
78 643 Sewage Works Operations & Maint. Reserve Administrative Funds
79 649 Sewage Sinking (Debt Service)142 102 Rainy Day
80 653 Sewage Debt Service Reserve 143 217 Gift, Donation, Bequest
81 654 Sewage Works Customer Deposit 144 227 Loss Recovery
82 655 Project ReLeaf 145 258 Human Rights Federal Grants
83 667 Storm Sewer 146 263 American Rescue Plan
147 American Rescue Plan Budget Summary
Public Safety Funds 148 264 COVID-19 Response
84 216 Police State Seizures 149 404 Local Income Tax - Certified Shares
86 220 Law Enforcement Continuing Education 151 407 Cumulative Capital Improvement
87 249 Local Income Tax - Public Safety 152 408 Local Income Tax - Economic Development
88 278 Take Home Vehicle Police 153 750 Equipment/Vehicle Leasing
89 280 Police Block Grants 154 752 South Bend Redevelopment Authority
90 287 Fire Department Capital 155 755 South Bend Building Corporation
91 288 Emergency Medical Services Operating
92 289 Haz-Mat Redevelopment Commission Controlled Funds
93 291 Indiana River Rescue 156 324 TIF - River West Development Area
94 292 Police Grants 157 422 TIF - West Washington
95 294 Regional Police Academy 158 429 TIF - River East Development Area (NE Dev)
96 295 COPS MORE Grant 159 430 TIF - Southside Development Area #1
97 299 Police Federal Drug Enforcement 160 435 TIF - Douglas Road
98 350 2018 Fire Station #9 Bond Debt Service 161 436 TIF - River East Residential Area (NE Res)
99 451 2018 Fire Station #9 Capital 162 315 Redevelopment Bond - Airport Taxable
100 701 Fire Pension 163 328 Redevelopment Bond - Palais Royale
101 702 Police Pension 164 351 2018 TIF Park Bond Debt Service Reserve
102 705 Police K-9 Unit 165 352 2019 South Shore Double Tracking Bond Debt Svc
166 353 2020 TIF Library Bond Debt Service Reserve
167 433 Redevelopment General
168 439 Certified Technology Park
169 452 2018 TIF Park Bond Capital
170 454 Airport Urban Enterprise Zone
171 456 2023 South Bend Redevelopment Authority
February 2024
Monthly Financial Report
The City of South Bend developed the attached Monthly Financial Report to provide current year and prior year financial information for each City fund, as well as individual
departments within various funds. Information is provided for revenue, expenditures, encumbrances, cash balances, outstanding debt, and current staffing levels.
Report of Changes in Cash Balance (4 - 5)
This report shows the year-to-date change in cash for each City fund by taking a fund’s beginning cash balance for the year, adding in actual revenues, and subtracting actual
expenditures.
Projected Cash Balance (6 - 8)
The projected ending cash balance for each City fund is calculated by taking a fund’s beginning cash balance for the year, adding in estimated revenue, and subtracting budgeted
expenditures. This shows what a fund's ending cash balance will be if all estimated revenue is collected and all budgeted expenditures are spent.
Cash Reserves Summary (9 - 12)
The purpose of the Cash Reserves Summary Report is keep track of whether the City's funds are meeting their cash reserve requirement. Cash reserve requirements are set for
each fund by the City of South Bend or other governing body (e.g. bond counsel, Century Center Board of Managers).
Cash Reserve Requirements
Cash reserve requirements are typically based on fund type.
- Most City funds are assigned a cash reserve requirement of a percentage of the fund's annual expenditures.
- Some funds have a set dollar amount as the reserve requirement, such as the Century Center Capital Fund 671.
- Capital project funds, grant funds, and bond capital funds do not have reserve requirements as they are spent down to zero.
- Debt service reserve funds are required to hold all reserves until the respective debt has been paid in full. The amount is often defined in bond covenants.
Changes in Cash Balance
Property taxes are received in June and December of each year and this will cause the cash balances to fluctuate for total cash, redevelopment fund cash and civil city fund
cash. Enterprise fund cash balances will fluctuate based on the receipt of bond proceeds and the spending down of cash on capital projects. Redevelopment fund cash
accounts will vary based on capital spending on projects in tax increment financing (TIF) funds.
Negative Cash Balances
Due to the timing of revenue and expenditures, certain funds will not meet cash reserve requirements and may even have a negative cash balance at different times
throughout the year. Although a fund has a negative cash balance, the City does not have negative cash overall. Pooled cash can cover those funds so necessary
expenditures can be made even if revenues have not been received yet.
Revenue & Expense Summaries (13 - 18)
These summaries show the total revenue and expense by fund.
Revenue by Type (19 - 25)
This report shows the City's revenue collected by month and the total estimated revenue for the current year.
Expenditures by Activity (26 - 29)
This report shows the City's actuals expenditures by month and the total budgeted expenditures for the current year.
Outstanding Debt (30 - 31)
This report shows all of the City's outstanding debt. It details what the debt is for, when it was issued, original amount, the fund(s) repaying the debt, and the principal and
interest payments due during the current year.
Employee Headcount (32 - 36)
This report shows the total number of full-time, permanent part-time, and seasonal/interns working for the City each month. It is broken down by City fund and by
departments/divisions. It also shows the budgeted number of full-time employees.
Fund Summaries (37 - 171)
The fund summaries show the revenues and expenditures of each fund across years. The summaries include text boxes providing an explanation of revenues, expenditures, and
spending on major capital projects.
We hope that you find this Monthly Financial Report useful in better understanding the finances of the City of South Bend. If you have any questions regarding this report,
please contact the Department of Administration & Finance by calling 311.
City of South Bend
Report of Changes in Cash Balance
January 1, 2024 through February 29, 2024
Beginning 2024 2024 Plus/(Minus) Ending Variance
Cash Balance Year to Date Year to Date Accrual Surplus Cash Balance Cash Reserve Above/(Below)
1/1/2024 Revenue Expenditures Adjustments (Deficit) 2/29/2024 Requirement Reserve Req.
City Controlled Funds
101 General Fund 93,698,543 9,074,691 17,794,243 535,374 (8,184,177) 85,514,366 66,050,726 19,463,640
Special Revenue Funds
102 Rainy Day 11,375,389 68,658 - - 68,658 11,444,047 9,551,216 1,892,831
201 Parks & Recreation 8,884,670 1,524,687 3,300,553 128,763 (1,647,103) 7,237,567 7,905,328 (667,761)
202 Motor Vehicle Highway 6,272,150 1,732,960 2,269,215 (17,450) (553,705) 5,718,445 4,846,460 871,984
209 Studebaker-Oliver Revitalizing Grants 652,479 3,938 525 - 3,413 655,892 - -
210 Economic Development State Grants (134,601) 42,699 - - 42,699 (91,902) - -
211 Dept of Community Investment Operating 396,172 287,254 681,640 (1,352) (395,738) 434 - -
212 Dept of Community Investment Grants 1,212,370 277,168 64,764 32,623 245,027 1,457,397 - -
216 Police State Seizures 257,001 9,393 - - 9,393 266,394 5,500 260,894
217 Gift, Donation, Bequest 4,416,666 25,064 3,000 - 22,064 4,438,730 - -
218 Police Curfew Violations - - - - - - - -
219 Unsafe Building 900,258 16,572 2,600 770 14,742 915,000 - -
220 Law Enforcement Continuing Education 999,052 69,885 227,628 46,589 (111,154) 887,898 137,509 750,389
221 Rental Units Regulation 210,001 17,373 10,622 611 7,362 217,363 - -
227 Loss Recovery 2,174,242 13,123 - - 13,123 2,187,365 - -
230 Code Enforcement (18,294) 1,043,871 650,702 6,254 399,423 381,129 - -
249 Local Income Tax - Public Safety 6,163,397 2,036,075 1,593,075 - 443,000 6,606,397 - -
251 Local Road & Street 1,388,435 528,177 472,334 (77,578) (21,736) 1,366,700 - -
257 LOIT Special Distribution 67,475 395 - (4,314) (3,920) 63,556 - -
258 Human Rights Federal Grants 155,014 69,292 31,540 - 37,752 192,766 - -
263 American Rescue Plan 10,144,293 57,573 3,169,653 1,890,635 (1,221,445) 8,922,848 - -
264 COVID-19 Response (79,650) 112,041 47,209 14,818 79,650 - - -
265 Local Road & Bridge Grant 428,020 2,583 - - 2,583 430,603 - -
266 MVH Restricted 848,707 431,629 109,010 11,873 334,492 1,183,199 - -
273 Morris PAC / Palais Royale Marketing - - - - - - - -
274 Morris PAC Self-Promotion - - - - - - - -
280 Police Block Grants - - - - - - - -
289 Haz-Mat 32,194 1,946 - 630 2,576 34,770 2,500 32,270
291 Indiana River Rescue 463,394 64,105 6,548 10,762 68,319 531,714 23,718 507,996
292 Police Grants - - - - - - - -
294 Regional Police Academy - - - - - - - -
295 COPS MORE Grant 20,876 - - - - 20,876 - -
299 Police Federal Drug Enforcement 201,296 16,109 - - 16,109 217,404 12,500 204,904
404 Local Income Tax - Certified Shares 2,042,781 12,284 580,026 (14,000) (581,742) 1,461,039 1,756,870 (295,831)
408 Local Income Tax - Economic Development 26,620,483 2,980,590 2,496,795 43,398 527,193 27,147,676 16,659,096 10,488,580
410 Urban Development Action Grant 69,114 417 - - 417 69,531 - -
655 Project ReLeaf 461,511 78,586 65,364 8,157 21,379 482,890 110,189 372,701
705 Police K-9 Unit - - - - - - - -
709 Payroll Clearning (29,612) - - (8,279) (8,279) (37,891) - -
730 City Cemetery 31,507 190 - - 190 31,697 - -
754 Industrial Revolving Fund 3,050,364 293,879 22,972 528,473 799,380 3,849,744 - -
Total Special Revenue Funds 90,172,800 11,821,508 15,805,776 2,601,381 (1,382,886) 88,789,914 41,410,887 14,517,592
Debt Service Funds
312 2017 Parks Bond Debt Service 153,346 926 582,258 - (581,332) (427,986) - -
350 2018 Fire Station #9 Bond Debt Service - - 171,491 - (171,491) (171,491) - -
672 Century Center Energy Conservation Debt Svc 32,956 153 - - 153 33,109 - -
752 South Bend Redevelopment Authority 447,521 2,007,100 2,726,578 - (719,478) (271,957) (271,957) -
755 South Bend Building Corporation 231,285 720,144 851,884 - (131,739) 99,546 99,546 -
756 2015 Smart Streets Bond Debt Service 1,751,219 856,017 851,534 - 4,482 1,755,701 1,755,701 -
757 2015 Parks Bond Debt Service 558,162 62,907 185,091 - (122,184) 435,978 435,978 -
760 2017 Eddy Street Commons Bond Debt Service 3,668,987 31 - - 31 3,669,018 2,500,000 1,169,018
Total Debt Service Funds 6,843,475 3,647,277 5,368,835 - (1,721,558) 5,121,918 4,519,268 1,169,018
Capital Funds
287 Fire Department Capital 1,568,458 347,712 573,661 31,369 (194,579) 1,373,879 - -
401 Coveleski Stadium Capital 2,799 17 3,124 3,124 17 2,816 - -
406 Cumulative Capital Development 199,512 1,357 83,333 - (81,977) 117,535 - -
407 Cumulative Capital Improvement 279,499 1,394 12,500 - (11,106) 268,394 - -
412 Major Moves Construction 1,602,252 97,366 28,044 - 69,322 1,671,574 - -
413 Professional Sports Convention Development Area 252,675 1,278,171 200,194 103,897 1,181,874 1,434,548 - -
416 Morris Performing Arts Center Capital 160,804 52 4,445 - (4,393) 156,411 - -
450 Palais Royale Historic Preservation 128,105 4,788 - - 4,788 132,893 - -
451 2018 Fire Station #9 Bond Capital 329,571 1,989 - - 1,989 331,560 - -
453 Zoo Bond Capital 0 - 0 - (0) - - -
455 2021 Infrastructure Bond Capital 922,516 4,977 204,135 - (199,158) 723,358 - -
471 2017 Parks Bond Capital 1,370,920 7,499 267,485 - (259,986) 1,110,934 - -
750 Equipment/Vehicle Leasing - - - - - - - -
759 2017 Eddy Street Commons Bond Capital 25,766 0 - - 0 25,766 - -
Total Capital Funds 6,842,877 1,745,322 1,376,921 138,390 506,791 7,349,668 - -
City of South Bend
Report of Changes in Cash Balance
January 1, 2024 through February 29, 2024
Beginning 2024 2024 Plus/(Minus) Ending Variance
Cash Balance Year to Date Year to Date Accrual Surplus Cash Balance Cash Reserve Above/(Below)
1/1/2024 Revenue Expenditures Adjustments (Deficit) 2/29/2024 Requirement Reserve Req.
Enterprise Funds
600 Consolidated Building 2,087,954 260,115 255,597 1,170 5,688 2,093,643 475,534 1,618,109
601 Parking Garages 553,932 83,280 121,099 (46,841) (84,660) 469,272 300,990 168,281
602 Morris Performing Arts Center Operations 646,796 136,493 232,632 7,707 (88,432) 558,364 177,444 380,920
610 Solid Waste Operations 766,957 1,180,138 2,038,816 165,666 (693,013) 73,944 804,743 (730,799)
611 Solid Waste Capital 2,734,871 934,556 1,137,536 - (202,980) 2,531,891 - -
620 Water Works Operations 7,853,450 3,185,304 3,423,263 337,251 99,292 7,952,742 1,220,455 6,732,287
622 Water Works Capital 6,652,330 44,963 249,565 1,804 (202,799) 6,449,531 - -
624 Water Works Customer Deposit 1,349,630 8,145 - (1,064) 7,081 1,356,711 1,356,711 -
625 Water Works Sinking (Debt Service)3,665,884 18,583 - (1,222,994) (1,204,411) 2,461,473 - -
626 Water Works Bond Reserve 1,478,046 9,022 - - 9,022 1,487,068 1,487,068 -
629 Water Works Operations & Maintenance Reserve 3,040,120 18,349 - - 18,349 3,058,469 3,542,878 (484,410)
640 Sewer Repair Insurance 1,804,260 130,786 142,804 827 (11,191) 1,793,070 265,450 1,527,620
641 Sewage Works Operations 19,586,870 7,261,153 6,813,887 750,814 1,198,080 20,784,950 2,449,087 18,335,863
642 Sewage Works Capital 12,732,727 90,539 176,157 (14,297) (99,915) 12,632,812 - -
643 Sewage Works Operations & Maintenance Reserve 5,763,455 34,786 - - 34,786 5,798,241 5,698,602 99,640
649 Sewage Sinking (Debt Service)6,033,296 128,372 1,299 1,300 128,373 6,161,670 - -
653 Sewage Debt Service Reserve 3,893,415 56,672 - - 56,672 3,950,087 3,950,087 -
654 Sewage Works Customer Deposit 1,360,670 8,246 - 20,313 28,559 1,389,229 1,389,229 -
667 Storm Sewer 2,163,420 210,601 110,265 (64,333) 36,003 2,199,423 - -
670 Century Center Operations 838,464 280,093 668,571 300,376 (88,102) 750,361 1,172,114 (421,753)
671 Century Center Capital 1,102,115 6,611 31,283 8,530 (16,142) 1,085,973 800,000 285,973
Total Enterprise Funds 86,108,661 14,086,809 15,402,774 246,227 (1,069,739) 85,038,922 25,090,392 85,038,922
Internal Service Funds
222 Central Services (680,622) 1,594,232 1,806,126 137,949 (73,945) (754,567) - -
226 Liability Insurance 6,488,526 645,030 549,828 21,857 117,059 6,605,585 2,045,452 4,560,133
278 Police Take Home Vehicle 833,591 15,286 - - 15,286 848,877 750,000 98,877
279 IT / Innovation / 311 Call Center 5,506,547 2,314,705 2,163,321 (48,675) 102,709 5,609,256 - -
711 Self-Funded Employee Benefits 9,628,440 3,141,414 2,652,030 29,421 518,805 10,147,244 5,205,725 4,941,519
713 Unemployment Compensation 45,824 1,570 5,360 - (3,790) 42,033 20,000 22,033
714 Parental Leave 626,913 48,535 8,244 - 40,292 667,205 20,308 646,898
Total Internal Service Funds 22,449,219 7,760,772 7,184,909 140,552 716,415 23,165,634 8,041,484 10,269,460
Fiduciary Funds
701 Fire Pension 392,781 1,399 666,293 - (664,894) (272,113) 444,890 (717,002)
702 Police Pension 506,772 1,586 1,024,964 - (1,023,378) (516,606) 589,466 (1,106,073)
718 State Tax Withholding Fund 322,127 - - (84,448) (84,448) 237,679 237,679 -
725 Morris / Palais Box Office (711,758) - - 315,371 315,371 (396,387) (396,387) -
726 Police Distributions Payable 983,966 - - (117,344) (117,344) 866,621 866,621 -
Total Fiduciary Funds 1,493,888 2,985 1,691,257 113,578 (1,574,694) (80,806) 1,742,268 (1,823,075)
Total City Controlled Funds 307,609,463 48,139,365 64,624,714 3,775,502 (12,709,848) 294,899,615 146,855,027 128,635,557
Redevelopment Commission Controlled Funds
Tax Increment Financing Funds
324 TIF - River West Development Area 34,088,454 460,252 5,134,663 (140,160) (4,814,572) 29,273,883 - -
422 TIF - West Washington 1,883,190 11,168 68,357 - (57,189) 1,826,002 - -
429 TIF - River East Development Area (NE Dev)14,630,846 89,696 216,103 - (126,407) 14,504,439 - -
430 TIF - Southside Development Area #1 12,834,453 72,933 1,858,743 311,539 (1,474,270) 11,360,183 - -
435 TIF - Douglas Road 604,408 3,648 - - 3,648 608,056 - -
436 TIF - River East Residential Area (NE Res)9,025,377 54,396 2,294,434 (25,470) (2,265,508) 6,759,869 - -
Total Tax Increment Financing Funds 73,066,730 692,093 9,572,300 145,909 (8,734,298) 64,332,432 - -
Redevelopment Funds
433 Redevelopment General 3,248,346 20,685 422,346 (1,500) (403,162) 2,845,184 742,961 2,102,223
439 Certified Technology Park 11,621 70 - - 70 11,691 - -
452 2018 TIF Park Bond Capital 2,368,202 11,629 919,772 - (908,143) 1,460,059 - -
454 Airport Urban Enterprise Zone 427,896 2,583 - - 2,583 430,479 - -
456 2023 South Bend Redevelopment Authority 28,540,322 286,464 7,598,306 5,534,497 (1,777,345) 26,762,978 - -
Total Redevelopment Funds 34,596,387 321,431 8,940,424 5,532,997 (3,085,996) 31,510,391 742,961 2,102,223
Debt Service Funds
315 Airport 2003 Debt Reserve 1,080,323 6,520 - - 6,520 1,086,843 1,086,843 -
328 SBCDA 2003 Debt Reserve 1,806,136 10,901 - - 10,901 1,817,037 1,817,037 -
351 2018 TIF Park Bond Debt Service 1,079,924 6,518 - - 6,518 1,086,442 1,086,442 -
352 2019 South Shore Double Tracking Debt Service 20,074 519,001 516,500 - 2,501 22,575 22,575 -
353 2020 TIF Library Bond Debt Service Reserve 326,952 3 - - 3 326,955 326,955 -
Total Debt Service Funds 4,313,409 542,944 516,500 - 26,444 4,339,853 4,339,853 -
Total Redevelopment Commission Funds 111,976,526 1,556,467 19,029,224 5,678,906 (11,793,851) 100,182,675 5,082,814 2,102,223
Grand Total 419,585,989 49,695,832 83,653,938 9,454,408 (24,503,698) 395,082,290 151,937,841 130,737,780
NOTE: REFER TO INDIVIDUAL FUND SUMMARIES FOR FURTHER DETAIL
Beginning 2024 2024 Projected Ending
Cash Balance Estimated Budgeted Plus/(Minus) Surplus Cash Balance
1/1/2024 Revenue Expenditures Adjustments (Deficit) 12/31/2024
City Controlled Funds
101 General Fund 93,698,543 99,846,600 132,101,452 - (32,254,853) 61,443,690
Special Revenue Funds
102 Rainy Day 11,375,389 224,926 - - 224,926 11,600,315
201 Parks & Recreation 8,884,670 23,521,103 31,621,314 - (8,100,211) 784,459
202 Motor Vehicle Highway 6,272,150 16,230,459 19,385,841 - (3,155,382) 3,116,768
209 Studebaker-Oliver Revitalizing Grants 652,479 11,321 98,331 - (87,010) 565,469
210 Economic Development State Grants (134,601) - 222,865 - (222,865) (357,466)
211 Dept of Community Investment Operating 396,172 5,141,762 5,063,734 - 78,028 474,200
212 Dept of Community Investment Grants 1,212,370 2,832,655 10,286,845 - (7,454,190) (6,241,819)
216 Police State Seizures 257,001 18,619 22,000 - (3,381) 253,620
217 Gift, Donation, Bequest 4,416,666 7,048,524 7,034,559 - 13,966 4,430,632
218 Police Curfew Violations - - - - - -
219 Unsafe Building 900,258 80,884 24,880 - 56,004 956,262
220 Law Enforcement Continuing Education 999,052 540,295 550,038 - (9,743) 989,309
221 Rental Units Regulation 210,001 101,861 206,211 - (104,350) 105,651
227 Loss Recovery 2,174,242 21,226 1,500 - 19,726 2,193,968
230 Code Enforcement (18,294) 6,699,800 7,141,768 - (441,968) (460,262)
249 Local Income Tax - Public Safety 6,163,397 12,060,640 10,354,988 - 1,705,652 7,869,049
251 Local Road & Street 1,388,435 6,107,790 5,088,939 - 1,018,850 2,407,286
257 LOIT Special Distribution 67,475 42 54,136 - (54,095) 13,381
258 Human Rights Federal Grants 155,014 141,000 268,204 - (127,204) 27,810
263 American Rescue Plan 10,144,293 - 9,346,451 - (9,346,451) 797,842
264 COVID-19 Response (79,650) 75,000 90,148 - (15,148) (94,798)
265 Local Road & Bridge Grant 428,020 2,007,369 2,222,695 - (215,327) 212,694
266 MVH Restricted 848,707 3,388,148 3,353,471 - 34,677 883,385
273 Morris PAC / Palais Royale Marketing - - - - - -
274 Morris PAC Self-Promotion - - - - - -
280 Police Block Grants - - - - - -
289 Haz-Mat 32,194 5,585 10,000 - (4,415) 27,780
291 Indiana River Rescue 463,394 97,878 94,871 - 3,008 466,402
292 Police Grants - - - - - -
294 Regional Police Academy - - - - - -
295 COPS MORE Grant 20,876 - - - - 20,876
299 Police Federal Drug Enforcement 201,296 82,288 50,000 - 32,288 233,584
404 Local Income Tax - Certified Shares 2,042,781 - 3,513,740 - (3,513,740) (1,470,959)
408 Local Income Tax - Economic Development 26,620,483 17,108,780 33,318,192 - (16,209,411) 10,411,072
410 Urban Development Action Grant 69,114 - - - - 69,114
655 Project ReLeaf 461,511 463,766 440,757 - 23,009 484,520
705 Police K-9 Unit - - - - - -
725 Morris / Palais Box Office (711,758) - - - - (711,758)
730 City Cemetery 31,507 623 - - 623 32,130
731 Bowman Cemetery 495,643 9,800 - - 9,800 505,444
754 Industrial Revolving Fund 3,050,364 250,514 818,232 - (567,718) 2,482,646
Debt Service Funds
312 2017 Parks Bond Debt Service 153,346 1,178,495 1,177,990 - 505 153,851
350 2018 Fire Station #9 Bond Debt Service - 341,331 341,331 - - -
672 Century Center Energy Conservation Debt Svc 32,956 397,127 393,388 - 3,739 36,695
752 South Bend Redevelopment Authority 447,521 4,689,501 4,689,081 - 420 447,941
755 South Bend Building Corporation 231,285 1,443,358 1,425,193 - 18,165 249,450
756 2015 Smart Streets Bond Debt Service 1,751,219 1,739,780 1,706,785 - 32,996 1,784,215
757 2015 Parks Bond Debt Service 558,162 380,132 368,381 - 11,751 569,913
760 2017 Eddy Street Commons Bond Debt Service 3,668,987 2,014,786 1,941,375 - 73,411 3,742,397
Total Debt Service Funds 6,843,475 12,184,511 12,043,524 - 140,987 6,984,462
City of South Bend
Based on 2024 Amended Budget as of February 29, 2024
Projected Cash Balance
Beginning 2024 2024 Projected Ending
Cash Balance Estimated Budgeted Plus/(Minus) Surplus Cash Balance
1/1/2024 Revenue Expenditures Adjustments (Deficit) 12/31/2024
City of South Bend
Based on 2024 Amended Budget as of February 29, 2024
Projected Cash Balance
Capital Funds
287 Fire Department Capital 1,568,458 5,551,825 6,923,119 - (1,371,294) 197,164
401 Coveleski Stadium Capital 2,799 25,000 40,000 - (15,000) (12,201)
406 Cumulative Capital Development 199,512 659,010 548,541 - 110,470 309,982
407 Cumulative Capital Improvement 279,499 213,788 245,000 - (31,212) 248,287
412 Major Moves Construction 1,602,252 290,014 1,707,634 - (1,417,620) 184,632
413 Professional Sports Convention Development Area 252,675 5,000,000 732,837 - 4,267,163 4,519,838
416 Morris Performing Arts Center Capital 160,804 - 486,012 - (486,012) (325,208)
450 Palais Royale Historic Preservation 128,105 16,229 20,000 - (3,771) 124,334
451 2018 Fire Station #9 Bond Capital 329,571 - - - - 329,571
453 Zoo Bond Capital 0 - - - - -
455 2021 Infrastructure Bond Capital 922,516 - 723,498 - (723,498) 199,018
471 2017 Parks Bond Capital 1,370,920 - 834,698 - (834,698) 536,221
750 Equipment/Vehicle Leasing - - - - - -
759 2017 Eddy Street Commons Bond Capital 25,766 - - - - 25,766
Total Capital Funds 6,842,877 11,755,866 12,261,338 - (505,472) 6,337,404
Enterprise Funds
600 Consolidated Building 2,087,954 1,625,801 1,902,137 - (276,335) 1,811,619
601 Parking Garages 553,932 1,177,861 1,203,962 - (26,100) 527,832
602 Morris Performing Arts Center Operations 646,796 1,646,369 1,774,441 - (128,072) 518,724
610 Solid Waste Operations 766,957 7,933,597 8,047,429 - (113,832) 653,124
611 Solid Waste Capital 2,734,871 3,309,379 6,189,714 - (2,880,335) (145,464)
620 Water Works Operations 7,853,450 23,447,635 24,409,097 - (961,462) 6,891,988
622 Water Works Capital 6,652,330 619,699 8,928,059 - (8,308,360) (1,656,029)
624 Water Works Customer Deposit 1,349,630 - - - - 1,349,630
625 Water Works Sinking (Debt Service)3,665,884 2,756,078 2,756,078 - - 3,665,884
626 Water Works Bond Reserve 1,478,046 - - - - 1,478,046
629 Water Works Operations & Maintenance Reserve 3,040,120 - - - - 3,040,120
640 Sewer Repair Insurance 1,804,260 698,894 1,061,798 - (362,904) 1,441,356
641 Sewage Works Operations 19,586,870 42,337,994 48,981,742 - (6,643,748) 12,943,122
642 Sewage Works Capital 12,732,727 5,362,244 20,043,380 - (14,681,135) (1,948,409)
643 Sewage Works Operations & Maintenance Reserve 5,763,455 - - - - 5,763,455
649 Sewage Sinking (Debt Service)6,033,296 9,796,969 9,796,969 - - 6,033,296
653 Sewage Debt Service Reserve 3,893,415 - - - - 3,893,415
654 Sewage Works Customer Deposit 1,360,670 - - - - 1,360,670
667 Storm Sewer 2,163,420 1,147,200 3,178,875 - (2,031,675) 131,745
670 Century Center Operations 838,464 4,696,165 4,688,456 - 7,709 846,173
671 Century Center Capital 1,102,115 22,457 296,636 - (274,179) 827,936
Total Enterprise Funds 86,108,661 106,578,344 143,258,773 - (36,680,428) 49,428,232
Internal Service Funds
222 Central Services (680,622) 11,823,402 12,048,561 - (225,159) (905,781)
226 Liability Insurance 6,488,526 3,743,354 4,090,903 - (347,550) 6,140,977
278 Police Take Home Vehicle 833,591 54,276 50,000 - 4,276 837,868
279 IT / Innovation / 311 Call Center 5,506,547 13,253,781 14,704,249 - (1,450,467) 4,056,080
711 Self-Funded Employee Benefits 9,628,440 21,554,369 20,822,900 - 731,469 10,359,908
713 Unemployment Compensation 45,824 93,109 80,000 - 13,109 58,933
714 Parental Leave 626,913 306,596 253,846 - 52,750 679,664
Total Internal Service Funds 22,449,219 50,828,888 52,050,459 - (1,221,571) 21,227,649
Fiduciary Funds
701 Fire Pension 392,781 4,610,839 4,448,896 - 161,943 554,724
702 Police Pension 506,772 5,810,432 5,894,664 - (84,232) 422,540
718 State Tax Withholding Fund 322,127 - - 1 1 322,128
726 Police Distributions Payable 983,966 - - 2 2 983,968
Total Fiduciary Funds 2,205,646 10,421,271 10,343,560 3 77,714 2,283,360
Total City Controlled Funds 307,639,075 395,888,138 512,743,814 3 (116,855,673) 190,783,403
Beginning 2024 2024 Projected Ending
Cash Balance Estimated Budgeted Plus/(Minus) Surplus Cash Balance
1/1/2024 Revenue Expenditures Adjustments (Deficit) 12/31/2024
City of South Bend
Based on 2024 Amended Budget as of February 29, 2024
Projected Cash Balance
Redevelopment Commission Controlled Funds
Tax Increment Financing Funds
324 TIF - River West Development Area 34,088,454 18,953,641 51,781,530 - (32,827,889) 1,260,565
422 TIF - West Washington 1,883,190 320,121 1,348,357 - (1,028,235) 854,955
429 TIF - River East Development Area (NE Dev)14,630,846 4,038,206 10,522,446 - (6,484,240) 8,146,606
430 TIF - Southside Development Area #1 12,834,453 1,953,050 11,411,262 - (9,458,212) 3,376,242
435 TIF - Douglas Road 604,408 180,144 74,175 - 105,969 710,377
436 TIF - River East Residential Area (NE Res)9,025,377 6,215,921 7,156,989 - (941,068) 8,084,309
Total Tax Increment Financing Funds 73,066,730 31,661,084 82,294,758 - (50,633,675) 22,433,054
Redevelopment Funds
433 Redevelopment General 3,248,346 1,990,186 2,971,846 - (981,660) 2,266,686
439 Certified Technology Park 11,621 230 - - 230 11,850
452 2018 TIF Park Bond Capital 2,368,202 - 2,315,432 - (2,315,432) 52,770
454 Airport Urban Enterprise Zone 427,896 8,296 - - 8,296 436,192
456 2023 South Bend Redevelopment Authority 28,540,322 - 20,104,297 1 (20,104,296) 8,436,027
Total Redevelopment Funds 6,056,065 1,998,712 25,391,574 - (3,288,566) 2,767,498
Debt Service Funds
315 Airport 2003 Debt Reserve 1,080,323 - 1,040,462 - (1,040,462) 39,861
328 SBCDA 2003 Debt Reserve 1,806,136 - 1,739,495 - (1,739,495) 66,641
351 2018 TIF Park Bond Debt Service 1,079,924 21,353 - - 21,353 1,101,278
352 2019 South Shore Double Tracking Debt Service 20,074 1,034,027 1,033,625 - 402 20,476
353 2020 TIF Library Bond Debt Service Reserve 326,952 6,539 - - 6,539 333,492
Total Debt Service Funds 4,313,409 1,061,919 3,813,582 - (2,751,663) 1,561,748
Total Redevelopment Commission Funds 83,436,204 34,721,715 111,499,915 - (76,778,200) 6,658,004
Grand Total 391,075,278 430,609,853 624,243,728 3 (193,633,873) 197,441,407
NOTE: REFER TO INDIVIDUAL FUND SUMMARIES FOR FURTHER DETAIL
City of South Bend * NOTE: Available Cash is a Fund's cash balance minus any outstanding encumbrances
Cash Reserves Summary by Fund Status
Cash Actual
Fund Fund Name Cash Outstanding Available Reserve % of
Balance Encumb.Cash *Requirement Variance Budget Notes Cash Reserve Policy
Under Reserve Requirement
201 Parks & Recreation 7,237,567 8,516,759 (1,279,192) 7,905,328 (9,184,520) -4% Subsidy transfer done in February 25% of Annual expenditures
202 Motor Vehicle Highway 5,718,445 3,190,359 2,528,086 4,846,460 (2,318,374) 13%25% of Annual expenditures
404 Local Income Tax - Certified Shares 1,461,039 199,215 1,261,824 1,756,870 (495,046) 36% No longer used. Transferred to Fund 101.50% of Annual expenditures
610 Solid Waste Operations 73,944 1,189,017 (1,115,073) 804,743 (1,919,816) -14% Subsidy transfer done in February 10% of Annual expenditures
629 Water Works Operations & Maintenance
Reserve 3,058,469 - 3,058,469 3,542,878 (484,410) 14%Subsidy transfer done in February 16.67% of annual operating expenses in Fund
620, net of transfers
670 Century Center Operations 750,361 29,197 721,164 1,172,114 (450,950) 15% Operations continue to rebound from shutdown 25% of Annual expenditures
701 Fire Pension (272,113) 3,500 (275,613) 444,890 (720,502) -6% Slightly under reserve requirement 10% of Annual expenditures
702 Police Pension (516,606) 3,500 (520,106) 589,466 (1,109,573) -9% Slightly under reserve requirement 10% of Annual expenditures
Under Reserve Requirement Total 17,511,106$ 13,131,547$ 4,379,559$ 21,062,750$ (16,683,191)$
Meets or Exceeds Requirement
101 General Fund 85,514,366 12,099,157 73,415,208 66,050,726 7,364,482 56% Property tax distribution received in June & Dec 50% of Annual expenditures
102 Rainy Day 11,444,047 - 11,444,047 9,551,216 1,892,831 4%3% of total expenditures in previous fiscal year
for Civil City Funds, less interfund transfers out
216 Police State Seizures 266,394 - 266,394 5,500 260,894 1211%25% of Annual expenditures
220 Law Enforcement Continuing Education 887,898 359,598 528,300 137,509 390,791 96%25% of Annual expenditures
222 Central Services (754,567) 123,744 (878,311) - (878,311) 100% Charges for services came in under budget No reserve requirement
224 Central Services Capital - - - - - 100% Charges for services came in under budget No reserve requirement - Capital fund - spend
down to zero
226 Liability Insurance 6,605,585 450,296 6,155,289 2,045,452 4,109,837 150%50% of Annual expenditures
278 Police Take Home Vehicle 848,877 - 848,877 750,000 98,877 1698%One large claim in 2019, continuing to build cash reserves
back up Set dollar amount of $750,000
289 Haz-Mat 34,770 - 34,770 2,500 32,270 348%25% of Annual expenditures
291 Indiana River Rescue 531,714 3,474 528,239 23,718 504,522 557%25% of Annual expenditures
299 Police Federal Drug Enforcement 217,404 - 217,404 12,500 204,904 435%25% of Annual expenditures
315 Airport 2003 Debt Reserve 1,086,843 - 1,086,843 1,086,843 - 100%100% debt service reserve per bond covenants
328 SBCDA 2003 Debt Reserve 1,817,037 - 1,817,037 1,817,037 - 100%100% debt service reserve per bond covenants
351 2018 TIF Park Bond Debt Service 1,086,442 - 1,086,442 1,086,442 - 100% 100% debt service reserve per bond covenants
352 2019 South Shore Double Tracking Debt
Service 22,575 - 22,575 22,575 - 100%No reserve requirement
353 2020 TIF Library Bond Debt Service
Reserve 326,955 - 326,955 326,955 - 100%100% debt service reserve per bond covenants
408 Local Income Tax - Economic
Development 27,147,676 5,757,034 21,390,642 16,659,096 4,731,546 64%50% of Annual expenditures
433 Redevelopment General 2,845,184 694,211 2,150,974 742,961 1,408,012 72%25% of Annual expenditures
456 2023 South Bend Redevelopment Authority 26,762,978 5,277,427 21,485,551 - 21,485,551 100%No reserve requirement - Bond capital fund -
spend down to zero
600 Consolidated Building 2,093,643 57,684 2,035,959 475,534 1,560,425 107%25% of Annual expenditures
601 Parking Garages 469,272 2,470 466,802 300,990 165,811 39%25% of Annual expenditures
February 29, 2024
City of South Bend * NOTE: Available Cash is a Fund's cash balance minus any outstanding encumbrances
Cash Reserves Summary by Fund Status
Cash Actual
Fund Fund Name Cash Outstanding Available Reserve % of
Balance Encumb.Cash *Requirement Variance Budget Notes Cash Reserve Policy
February 29, 2024
602 Morris Performing Arts Center Operations 558,364 98,033 460,331 177,444 282,887 26%10% of Annual expenditures
620 Water Works Operations 7,952,742 1,092,590 6,860,151 1,220,455 5,639,697 28%5% of Annual expenditures
624 Water Works Customer Deposit 1,356,711 - 1,356,711 1,356,711 - 100%100% cash reserves for customer deposits
626 Water Works Bond Reserve 1,487,068 - 1,487,068 1,487,068 - 100% 100% cash reserves per bond covenants
640 Sewer Repair Insurance 1,793,070 193,594 1,599,476 265,450 1,334,026 151%25% of Annual expenditures
641 Sewage Works Operations 20,784,950 2,126,069 18,658,881 2,449,087 16,209,794 38%5% of Annual expenditures
643 Sewage Works Operations & Maintenance
Reserve 5,798,241 - 5,798,241 5,698,602 99,640 17%
16.67% of annual operating expenses in Fund
641, net of transfers
653 Sewage Debt Service Reserve 3,950,087 - 3,950,087 3,950,087 - 100% 100% cash reserves per bond covenants
654 Sewage Works Customer Deposit 1,389,229 - 1,389,229 1,389,229 - 100%100% cash reserves for customer deposits
655 Project ReLeaf 482,890 - 482,890 110,189 372,701 110%25% of Annual expenditures
671 Century Center Capital 1,085,973 222,614 863,359 800,000 63,359 291%$800,000 Minimum per Board of Managers
711 Self-Funded Employee Benefits 10,147,244 3,545,021 6,602,223 5,205,725 1,396,498 32%25% of Annual expenditures
713 Unemployment Compensation 42,033 - 42,033 20,000 22,033 53%25% of Annual expenditures
714 Parental Leave 667,205 - 667,205 20,308 646,898 263%8% of Annual expenditures - one month
reserve
718 State Tax Withholding Fund 237,679 - 237,679 237,679 - 100% 100% cash reserves - trust & agency funds
725 Morris / Palais Box Office (396,387) - (396,387) (396,387) - 100% 100% cash reserves - trust & agency funds
726 Police Distributions Payable 866,621 - 866,621 866,621 - 100% 100% cash reserves - trust & agency funds
730 City Cemetery 31,697 - 31,697 - 31,697 100% 25% of Annual expenditures
731 Bowman Cemetery 498,635 - 498,635 400,000 98,635 100% $400,000 minimum
752 South Bend Redevelopment Authority (271,957) - (271,957) (271,957) - 100% 100% cash reserves per bond covenants
755 South Bend Building Corporation 99,546 - 99,546 99,546 - 100% 100% cash reserves per bond covenants
756 2015 Smart Streets Bond Debt Service 1,755,701 - 1,755,701 1,755,701 - 100% 100% cash reserves per bond covenants
757 2015 Parks Bond Debt Service 435,978 - 435,978 435,978 - 100% 100% cash reserves per bond covenants
760 2017 Eddy Street Commons Bond Debt
Service 3,669,018 - 3,669,018 2,500,000 1,169,018 189% $2,500,000 minimum
Meets or Exceeds Requirement Total 233,677,431$ 32,103,017$ 201,574,414$ 130,875,091$ 70,699,325$
City of South Bend * NOTE: Available Cash is a Fund's cash balance minus any outstanding encumbrances
Cash Reserves Summary by Fund Status
Cash Actual
Fund Fund Name Cash Outstanding Available Reserve % of
Balance Encumb.Cash *Requirement Variance Budget Notes Cash Reserve Policy
February 29, 2024
No Reserve Requirement
209 Studebaker-Oliver Revitalizing Grants 655,892 48,331 607,561 - 607,561 100%No reserve requirement - Grant fund - spend
down to zero
210 Economic Development State Grants (91,902) 40,263 (132,164) - (132,164) 100% Reimbursed by grant receipts
No reserve requirement - Grant fund - spend
down to zero
211 Dept of Community Investment Operating 434 514,509 (514,075) - (514,075) 100% Reimbursed through interfund transfers from Fund 408 No reserve requirement
212 Dept of Community Investment Grants 1,457,397 2,560,372 (1,102,974) - (1,102,974) 100% Reimbursed by grant receipts
No reserve requirement - Grant fund - spend
down to zero
217 Gift, Donation, Bequest 4,438,730 6,369,489 (1,930,759) - (1,930,759) 100% No reserve requirement
219 Unsafe Building 915,000 (720) 915,720 - 915,720 100% No reserve requirement
221 Rental Units Regulation 217,363 152,211 65,152 - 65,152 100% Reimbursed through interfund transfers from Fund 408 No reserve requirement
227 Loss Recovery 2,187,365 - 2,187,365 - 2,187,365 100% No reserve requirement
230 Code Enforcement 381,129 260,543 120,586 - 120,586 100% Reimbursed through interfund transfers from Fund 408 No reserve requirement
249 Local Income Tax - Public Safety 6,606,397 - 6,606,397 - 6,606,397 100% No reserve requirement
251 Local Road & Street 1,366,700 2,346,958 (980,259) - (980,259) 100% 25% of annual expenditures
257 LOIT Special Distribution 63,556 1,501 62,055 - 62,055 100%No reserve requirement - one-time distribution -
spend down to zero
258 Human Rights Federal Grants 192,766 - 192,766 - 192,766 100%No reserve requirement - Grant fund - spend
down to zero
263 American Rescue Plan 8,922,848 6,176,798 2,746,050 - 2,746,050 100%No reserve requirement - Grant fund - spend
down to zero
264 COVID-19 Response - 75,095 (75,095) - (75,095) 100% To be reimbursed by grant receipts
No reserve requirement - Grant fund - spend
down to zero
265 Local Road & Bridge Grant 430,603 1,323,637 (893,033) - (893,033) 100%Reimbursed through interfund transfer to cover matching
portion
No reserve requirement - Grant fund - spend
down to zero
266 MVH Restricted 1,183,199 986,958 196,241 - 196,241 100%No reserve requirement
279 IT / Innovation / 311 Call Center 5,609,256 2,965,875 2,643,381 - 2,643,381 100% Reimbursed through interfund allocation No reserve requirement
287 Fire Department Capital 1,373,879 1,534,913 (161,034) - (161,034) 100%No reserve requirement - Capital fund - spend
down to zero
295 COPS MORE Grant 20,876 - 20,876 - 20,876 100%No reserve requirement
312 2017 Parks Bond Debt Service (427,986) - (427,986) - (427,986) 100% Property tax distribution received in June & Dec No reserve requirement
324 TIF - River West Development Area 29,273,883 15,159,423 14,114,460 - 14,114,460 100% Property tax distribution received in June & Dec No reserve requirement
350 2018 Fire Station #9 Bond Debt Service (171,491) - (171,491) - (171,491) 100% Receives transfers from Fund 287 for debt services pmts No reserve requirement
401 Coveleski Stadium Capital 2,816 11,920 (9,104) - (9,104) 100% Revenue based on stadium attendence is received in the fall
No reserve requirement - Capital fund - spend
down to zero
406 Cumulative Capital Development 117,535 - 117,535 - 117,535 100% Property tax distribution received in June & Dec
No reserve requirement - Capital fund - spend
down to zero
407 Cumulative Capital Improvement 268,394 - 268,394 - 268,394 100%No reserve requirement - Capital fund - spend
down to zero
410 Urban Development Action Grant 69,531 - 69,531 - 69,531 100%No reserve requirement - Grant fund - spend
down to zero
412 Major Moves Construction 1,671,574 791,330 880,244 - 880,244 100%No reserve requirement - Capital fund - spend
down to zero
413 Professional Sports Convention
Development Area 1,434,548 149,065 1,285,484 - 1,285,484 100%No reserve requirement - Capital fund - spend
down to zero
City of South Bend * NOTE: Available Cash is a Fund's cash balance minus any outstanding encumbrances
Cash Reserves Summary by Fund Status
Cash Actual
Fund Fund Name Cash Outstanding Available Reserve % of
Balance Encumb.Cash *Requirement Variance Budget Notes Cash Reserve Policy
February 29, 2024
416 Morris Performing Arts Center Capital 156,411 287,022 (130,611) - (130,611) 100% No reserve requirement
422 TIF - West Washington 1,826,002 1,140,000 686,002 - 686,002 100% Property tax distribution received in June & Dec No reserve requirement
429 TIF - River East Development Area (NE Dev)14,504,439 3,554,803 10,949,635 - 10,949,635 100% Property tax distribution received in June & Dec No reserve requirement
430 TIF - Southside Development Area #1 11,360,183 6,548,322 4,811,861 - 4,811,861 100% Property tax distribution received in June & Dec No reserve requirement
435 TIF - Douglas Road 608,056 - 608,056 - 608,056 100% Property tax distribution received in June & Dec No reserve requirement
436 TIF - River East Residential Area (NE Res) 6,759,869 2,328,536 4,431,334 - 4,431,334 100% Property tax distribution received in June & Dec No reserve requirement
439 Certified Technology Park 11,691 - 11,691 - 11,691 100% No reserve requirement
450 Palais Royale Historic Preservation 132,893 - 132,893 - 132,893 100% No reserve requirement
451 2018 Fire Station #9 Bond Capital 331,560 - 331,560 - 331,560 100%No reserve requirement - Bond capital fund -
spend down to zero
453 Zoo Bond Capital - - - - - 100%No reserve requirement - Bond capital fund -
spend down to zero
452 2018 TIF Park Bond Capital 1,460,059 1,395,660 64,399 - 64,399 100%No reserve requirement - Bond capital fund -
spend down to zero
454 Airport Urban Enterprise Zone 430,479 - 430,479 - 430,479 100% No reserve requirement
455 2021 Infrastructure Bond Capital 723,358 519,115 204,243 - 204,243 100%No reserve requirement - Bond capital fund -
spend down to zero
471 2017 Parks Bond Capital 1,110,934 66,414 1,044,520 - 1,044,520 100%No reserve requirement - Bond capital fund -
spend down to zero
611 Solid Waste Capital 2,531,891 3,445,051 (913,160) - (913,160) 100% Receives transfers from Fund 610 as needed
No reserve requirement - Capital fund - spend
down to zero
622 Water Works Capital 6,449,531 1,756,888 4,692,644 - 4,692,644 100% Receives transfers from Fund 620 as needed
No reserve requirement - Capital fund - spend
down to zero
625 Water Works Sinking (Debt Service) 2,461,473 - 2,461,473 - 2,461,473 100% Receives transfers from Fund 620 as needed No reserve requirement
642 Sewage Works Capital 12,632,812 4,028,533 8,604,278 - 8,604,278 100% Receives transfers from Fund 641 as needed
No reserve requirement - Capital fund - spend
down to zero
649 Sewage Sinking (Debt Service) 6,161,670 - 6,161,670 - 6,161,670 100% Receives transfers from Fund 641 as needed No reserve requirement
667 Storm Sewer 2,199,423 1,422,022 777,402 - 777,402 100%No reserve requirement - Capital fund - spend
down to zero
672 Century Center Energy Conservation Debt
Svc 33,109 - 33,109 - 33,109 100% No reserve requirement
709 Payroll Clearing (37,891) - - - - 0% No reserve requirement - clearing fund
754 Industrial Revolving Fund 3,849,744 46,642 3,803,102 - 3,803,102 100%No City reserve requirement; there are program
requirements
759 2017 Eddy Street Commons Bond Capital 25,766 - 25,766 - 25,766 100%No reserve requirement - Bond capital fund -
spend down to zero
No Reserve Requirement Total 143,893,753$ 68,007,477$ 75,924,168$ -$ 75,924,170$
Total Funds 395,082,290$ 113,242,040$ 281,878,141$ 151,937,841$ 129,940,304$
City of South Bend
Monthly Fund Financials
Revenue Summary
February 29, 2024
Current
Amended
Budget
Current
Month
Actual
Current
Year to Date
Actual
Prior
Year to Date
Actual
Budget
Balance
Percent of
Budget
City Controlled Funds
101 General Fund 99,846,600 6,105,565 9,074,691 111,171,535 90,771,908 9%
Special Revenue Funds
102 Rainy Day 224,926 35,599 68,658 321,428 156,268 31%
201 Parks & Recreation 23,521,103 836,364 1,524,687 22,800,098 21,996,416 6%
202 Motor Vehicle Highway 16,230,459 893,718 1,732,960 11,049,955 14,497,500 11%
209 Studebaker-Oliver Revitalizing Grants 11,321 2,042 3,938 18,615 7,382 35%
210 Economic Development State Grants - 42,699 42,699 85,650 (42,699) 0%
211 Dept of Community Investment Operating 5,141,762 5,536 287,254 4,391,340 4,854,508 6%
212 Dept of Community Investment Grants 2,832,655 255,243 277,168 5,574,346 2,555,487 10%
216 Police State Seizures 18,619 7,547 9,393 57,408 9,226 50%
217 Gift, Donation, Bequest 7,048,524 10,741 25,064 3,652,115 7,023,461 0%
218 Police Curfew Violations - - - - - 0%
219 Unsafe Building 80,884 6,595 16,572 93,390 64,312 20%
220 Law Enforcement Continuing Education 540,295 26,761 69,885 994,541 470,410 13%
221 Rental Units Regulation 101,861 10,942 17,373 156,129 84,488 17%
227 Loss Recovery 21,226 6,804 13,123 1,120,256 8,103 62%
230 Code Enforcement 6,699,800 703,624 1,043,871 3,919,673 5,655,929 16%
249 Local Income Tax - Public Safety 12,060,640 1,018,337 2,036,075 12,868,916 10,024,565 17%
251 Local Road & Street 6,107,790 176,803 528,177 2,320,509 5,579,613 9%
257 LOIT Special Distribution 42 211 395 3,388 (353) 951%
258 Human Rights Federal Grants 141,000 68,885 69,292 35,770 71,708 49%
263 American Rescue Plan - 31,746 57,573 180,695 (57,573) 0%
264 COVID-19 Response 75,000 79,650 112,041 368,404 (37,041) 149%
265 Local Road & Bridge Grant 2,007,369 1,339 2,583 1,050,707 2,004,785 0%
266 MVH Restricted 3,388,148 249,125 431,629 3,314,097 2,956,519 13%
273 Morris PAC / Palais Royale Marketing - - - - - 0%
274 Morris PAC Self-Promotion - - - - - 0%
280 Police Block Grants - - - - - 0%
289 Haz-Mat 5,585 101 1,946 3,285 3,639 35%
291 Indiana River Rescue 97,878 39,443 64,105 161,390 33,773 65%
294 Regional Police Academy - - - - - 0%
295 COPS MORE Grant - - - 64 - 0%
299 Police Federal Drug Enforcement 82,288 11,400 16,109 158,312 66,179 20%
404 Local Income Tax - Certified Shares - 6,393 12,284 (11,647) (12,284) 0%
408 Local Income Tax - Economic Development 17,108,780 1,491,996 2,980,590 18,464,856 14,128,191 17%
410 Urban Development Action Grant - 216 417 8,846 (417) 0%
655 Project ReLeaf 463,766 39,334 78,586 473,768 385,180 17%
705 Police K-9 Unit - - - - - 0%
730 City Cemetery 623 99 190 890 433 31%
731 Bowman Cemetery 9,800 1,551 2,992 14,005 6,809 31%
754 Industrial Revolving Fund 250,514 58,009 293,879 1,136,154 (43,365) 117%
Debt Service Fund
312 2017 Parks Bond Debt Service 1,178,495 480 926 1,135,939 1,177,569 0%
350 2018 Fire Station #9 Bond Debt Service 341,331 - - 342,856 341,331 0%
672 Century Center Energy Conservation Debt Svc 397,127 57 153 263,591 396,974 0%
752 South Bend Redevelopment Authority 4,689,501 767,692 2,007,100 (29,257,277) 2,682,401 43%
755 South Bend Building Corporation 1,443,358 397,954 720,144 2,221,495 723,213 50%
756 2015 Smart Streets Bond Debt Service 1,739,780 856,007 856,017 1,714,091 883,764 49%
757 2015 Parks Bond Debt Service 380,132 31,533 62,907 343,596 317,226 17%
760 2017 Eddy Street Commons Bond Debt Service 2,014,786 16 31 1,930,062 2,014,755 0%
Total Debt Service Funds 12,184,511 2,053,739 3,647,277 (21,305,646) 8,537,233 30%
City of South Bend
Monthly Fund Financials
Revenue Summary
February 29, 2024
Current
Amended
Budget
Current
Month
Actual
Current
Year to Date
Actual
Prior
Year to Date
Actual
Budget
Balance
Percent of
Budget
Capital Funds
287 Fire Department Capital 5,551,825 174,108 347,712 3,491,232 5,204,113 6%
401 Coveleski Stadium Capital 25,000 9 17 31,722 24,983 0%
406 Cumulative Capital Development 659,010 776 1,357 629,199 657,654 0%
407 Cumulative Capital Improvement 213,788 583 1,394 195,468 212,394 1%
412 Major Moves Construction 290,014 5,014 97,366 785,039 192,648 34%
413 Professional Sports Convention Development Area 5,000,000 791 1,278,171 2,070,419 3,721,829 26%
416 Morris Performing Arts Center Capital - 26 52 379,179 (52) 0%
450 Palais Royale Historic Preservation 16,229 3,605 4,788 19,044 11,441 30%
451 2018 Fire Station #9 Bond Capital - 1,031 1,989 9,313 (1,989) 0%
453 Zoo Bond Capital - - - 122 - 0%
455 2021 Infrastructure Bond Capital - 2,887 4,977 48,402 (4,977) 0%
471 2017 Parks Bond Capital - 4,290 7,499 43,384 (7,499) 0%
750 Equipment/Vehicle Leasing - - - - - 0%
759 2017 Eddy Street Commons Bond Capital - 0 0 1 - 0%
Total Capital Funds 11,755,866 193,121 1,745,322 7,702,523 10,010,545 15%
Enterprise Funds
600 Consolidated Building 1,625,801 107,975 260,115 2,175,568 1,365,686 16%
601 Parking Garages 1,177,861 68,836 83,280 935,075 1,094,581 7%
602 Morris Performing Arts Center Operations 1,646,369 45,547 136,493 1,164,076 1,509,876 8%
610 Solid Waste Operations 7,933,597 582,008 1,180,138 8,184,729 6,753,459 15%
611 Solid Waste Capital 3,309,379 933,876 934,556 2,129,987 2,374,823 28%
620 Water Works Operations 23,447,635 1,565,030 3,185,304 22,350,147 20,262,331 14%
622 Water Works Capital 619,699 25,101 44,963 124,091 574,737 7%
624 Water Works Customer Deposit - 4,224 8,145 38,236 (8,145) 0%
625 Water Works Sinking (Debt Service) 2,756,078 11,472 18,583 2,804,408 2,737,495 1%
626 Water Works Bond Reserve - 4,672 9,022 42,407 (9,022) 0%
629 Water Works Operations & Maintenance Reserve - 9,514 18,349 85,903 (18,349) 0%
640 Sewer Repair Insurance 698,894 65,730 130,786 764,134 568,108 19%
641 Sewage Works Operations 42,337,994 3,569,719 7,261,153 43,471,462 35,076,841 17%
642 Sewage Works Capital 5,362,244 51,842 90,539 32,892,704 5,271,705 2%
643 Sewage Works Operations & Maintenance Reserve - 18,037 34,786 162,855 (34,786) 0%
649 Sewage Sinking (Debt Service) 9,796,969 66,986 128,372 9,893,560 9,668,596 1%
653 Sewage Debt Service Reserve - 28,764 56,672 110,014 (56,672) 0%
654 Sewage Works Customer Deposit - 4,258 8,246 37,039 (8,246) 0%
667 Storm Sewer 1,147,200 99,396 210,601 1,398,803 936,599 18%
670 Century Center Operations 4,696,165 217,252 280,093 4,462,846 4,416,072 6%
671 Century Center Capital 22,457 3,449 6,611 528,273 15,846 29%
Total Enterprise Funds 106,578,344 7,483,689 14,086,809 133,756,314 92,491,535 13%
Internal Service Funds
222 Central Services 11,823,402 748,581 1,594,232 9,145,812 10,229,170 13%
224 Central Services Capital - - - - - 0%
226 Liability Insurance 3,743,354 323,779 645,030 4,248,586 3,098,324 17%
278 Police Take Home Vehicle 54,276 7,689 15,286 82,259 38,990 28%
279 IT / Innovation / 311 Call Center 13,253,781 1,189,381 2,314,705 10,262,996 10,939,076 17%
711 Self-Funded Employee Benefits 21,554,369 1,578,673 3,141,414 18,191,953 18,412,955 15%
713 Unemployment Compensation 93,109 797 1,570 10,467 91,539 2%
714 Parental Leave 306,596 24,531 48,535 298,755 258,061 16%
Total Internal Service Funds 50,828,888 3,873,431 7,760,772 42,240,826 43,068,115 15%
Fiduciary Funds
701 Fire Pension 4,610,839 1,222 1,399 4,075,547 4,609,440 0%
702 Police Pension 5,810,432 1,586 1,586 5,998,908 5,808,846 0%
Total Fiduciary Funds 10,421,271 2,808 2,985 10,074,455 10,418,286 0%
Total City Controlled Funds 395,888,138 25,831,207 48,139,365 378,427,360 347,748,774 12%
City of South Bend
Monthly Fund Financials
Revenue Summary
February 29, 2024
Current
Amended
Budget
Current
Month
Actual
Current
Year to Date
Actual
Prior
Year to Date
Actual
Budget
Balance
Percent of
Budget
Redevelopment Commission Controlled Funds
Tax Increment Financing Funds
324 TIF - River West Development Area 18,953,641 108,975 460,252 21,214,018 18,493,389 2%
422 TIF - West Washington 320,121 5,893 11,168 535,947 308,953 3%
429 TIF - River East Development Area (NE Dev) 4,038,206 46,507 89,696 6,578,037 3,948,510 2%
430 TIF - Southside Development Area #1 1,953,050 40,050 72,933 4,089,697 1,880,117 4%
435 TIF - Douglas Road 180,144 1,891 3,648 245,859 176,496 2%
436 TIF - River East Residential Area (NE Res) 6,215,921 28,245 54,396 7,385,974 6,161,525 1%
Total Tax Increment Financing Funds 31,661,084 231,562 692,093 40,049,531 30,968,990 2%
Redevelopment Funds
433 Redevelopment General 1,990,186 10,762 20,685 1,654,014 1,969,502 1%
439 Certified Technology Park 230 36 70 328 160 31%
452 2018 TIF Park Bond Capital - 7,411 11,629 67,016 (11,629) 0%
454 Airport Urban Enterprise Zone 8,296 1,339 2,583 12,091 5,713 31%
456 2023 South Bend Redevelopment Authority Bonds - 116,722 286,464 40,213,563 (286,464) 0%
Total Redevelopment Funds 1,998,712 136,271 321,431 41,947,011 1,677,282 16%
Debt Service Funds
315 Airport 2003 Debt Reserve - 3,381 6,520 30,526 (6,520) 0%
328 SBCDA 2003 Debt Reserve - 5,652 10,901 51,035 (10,901) 0%
351 2018 TIF Park Bond Debt Service 21,353 3,380 6,518 30,515 14,835 31%
352 2019 South Shore Double Tracking Debt Service 1,034,027 519,000 519,001 1,035,503 515,025 50%
353 2020 TIF Library Bond Debt Service Reserve 6,539 1 3 16 6,536 0%
Total Debt Service Funds 1,061,919 531,414 542,944 1,147,595 518,975 51%
Total Redevelopment Commission Funds 34,721,715 899,246 1,556,467 83,144,138 33,165,248 4%
Grand Total 430,609,853 26,730,453 49,695,832 461,571,497 380,914,022 12%
City of South Bend
Monthly Fund Financials
Expenditure Summary
February 29, 2024
Current
Amended
Budget
Current
Month
Actual
Current
Year to Date
Actual
Prior
Year to Date
Actual
Current
Encumbrances
Budget
Balance
Percent of
Budget*
City Controlled Funds
101 General Fund 132,101,452 8,821,197 17,794,243 108,272,391 12,099,157 102,208,052 23%
Special Revenue Funds
102 Rainy Day - - - - - - 0%
201 Parks & Recreation 31,621,314 1,599,666 3,300,553 20,209,644 8,516,759 19,804,002 37%
202 Motor Vehicle Highway 19,385,841 900,596 2,269,215 10,677,672 3,190,359 13,926,267 28%
209 Studebaker-Oliver Revitalizing Grants 98,331 338 525 25,658 48,331 49,475 50%
210 Economic Development State Grants 222,865 - - 144,348 40,263 182,603 18%
211 Dept of Community Investment Operating 5,063,734 335,678 681,640 4,015,082 514,509 3,867,585 24%
212 Dept of Community Investment Grants 10,286,845 47,115 64,764 4,310,457 2,560,372 7,661,710 26%
216 Police State Seizures 22,000 - - - - 22,000 0%
217 Gift, Donation, Bequest 7,034,559 3,000 3,000 147,483 6,369,489 662,070 91%
218 Police Curfew Violations - - - - - - 0%
219 Unsafe Building 24,880 - 2,600 17,500 (720) 23,000 8%
220 Law Enforcement Continuing Education 550,038 184,263 227,628 709,459 359,598 (37,189) 107%
221 Rental Units Regulation 206,211 5,408 10,622 65,375 152,211 43,378 79%
227 Loss Recovery 1,500 - - - - 1,500 0%
230 Code Enforcement 7,141,768 294,140 650,702 4,396,734 260,543 6,230,523 13%
249 Local Income Tax - Public Safety 10,354,988 796,538 1,593,075 9,498,558 - 8,761,913 15%
251 Local Road & Street 5,088,939 188,112 472,334 3,372,745 2,346,958 2,269,647 55%
257 LOIT Special Distribution 54,136 - - 189,096 1,501 52,636 3%
258 Human Rights Federal Grants 268,204 16,413 31,540 196,770 - 236,664 12%
263 American Rescue Plan 9,346,451 1,919,527 3,169,653 945,227 6,176,798 - 100%
264 COVID-19 Response 90,148 14,818 47,209 383,405 75,095 (32,157) 136%
265 Local Road & Bridge Grant 2,222,695 - - 3,105,996 1,323,637 899,058 60%
266 MVH Restricted 3,353,471 15,015 109,010 4,412,010 986,958 2,257,503 33%
273 Morris PAC / Palais Royale Marketing - - - - - - 0%
274 Morris PAC Self-Promotion - - - - - - 0%
280 Police Block Grants - - - - - - 0%
288 Emergency Medical Services Operating - - - - - - 0%
289 Haz-Mat 10,000 - - - - 10,000 0%
291 Indiana River Rescue 94,871 4,891 6,548 91,052 3,474 84,849 11%
292 Police Grants - - - - - - 0%
294 Regional Police Academy - - - - - - 0%
295 COPS MORE Grant - - - - - - 0%
299 Police Federal Drug Enforcement 50,000 - - 75,609 - 50,000 0%
404 Local Income Tax - Certified Shares 3,513,740 9,268 580,026 14,394,532 199,215 2,734,500 22%
408 Local Income Tax - Economic Development 33,318,192 1,264,281 2,496,795 15,453,823 5,757,034 25,064,363 25%
410 Urban Development Action Grant - - - 338,253 - - 0%
655 Project ReLeaf 440,757 30,023 65,364 365,307 - 375,394 15%
705 Police K-9 Unit - - - - - - 0%
730 City Cemetery - - - - - - 0%
754 Industrial Revolving Fund 818,232 3,882 22,972 86,377 46,642 748,617 9%
Total Special Revenue Funds 150,684,708 7,632,972 15,805,776 97,628,171 38,929,025 95,949,911 36%
Debt Service Fund
312 2017 Parks Bond Debt Service 1,177,990 - 582,258 1,179,165 - 595,733 49%
350 2018 Fire Station #9 Bond Debt Service 341,331 - 171,491 342,856 - 169,841 50%
672 Century Center Energy Conservation Debt Svc 393,388 - - 407,917 - 393,388 0%
752 South Bend Redevelopment Authority 4,689,081 2,151,078 2,726,578 3,652,309 - 1,962,503 58%
755 South Bend Building Corporation 1,425,193 851,884 851,884 2,202,118 - 573,309 60%
756 2015 Smart Streets Bond Debt Service 1,706,785 851,534 851,534 1,709,319 - 855,250 50%
757 2015 Parks Bond Debt Service 368,381 185,091 185,091 375,581 - 183,291 50%
760 2017 Eddy Street Commons Bond Debt Service 1,941,375 - - 1,929,875 - 1,941,375 0%
Total Debt Service Funds 12,043,524 4,039,587 5,368,835 11,799,140 - 6,674,690 45%
* Percent of budget spent includes year to date expenditures and outstanding encumbrances
City of South Bend
Monthly Fund Financials
Expenditure Summary
February 29, 2024
Current
Amended
Budget
Current
Month
Actual
Current
Year to Date
Actual
Prior
Year to Date
Actual
Current
Encumbrances
Budget
Balance
Percent of
Budget*
Capital Funds
287 Fire Department Capital 6,923,119 31,369 573,661 5,784,893 1,534,913 4,814,545 30%
401 Coveleski Stadium Capital 40,000 3,124 3,124 33,159 11,920 24,956 38%
406 Cumulative Capital Development 548,541 41,667 83,333 718,881 - 465,207 15%
407 Cumulative Capital Improvement 245,000 6,250 12,500 275,996 - 232,500 5%
412 Major Moves Construction 1,707,634 962 28,044 759,056 791,330 888,260 48%
413 Professional Sports Convention Development Area 732,837 156,222 200,194 3,568,457 149,065 383,578 48%
416 Morris Performing Arts Center Capital 486,012 - 4,445 1,440,954 287,022 194,545 60%
450 Palais Royale Historic Preservation 20,000 - - - - 20,000 0%
451 2018 Fire Station #9 Bond Capital - - - - - - 0%
453 Zoo Bond Capital - - 0 4,467,955 - - 0%
455 2021 Infrastructure Bond Capital 723,498 - 204,135 1,236,390 519,115 248 100%
471 2017 Parks Bond Capital 834,698 - 267,485 780,322 66,414 500,800 40%
750 Equipment/Vehicle Leasing - - - - - - 0%
759 2017 Eddy Street Commons Bond Capital - - - - - - 0%
Total Capital Funds 12,261,338 239,593 1,376,921 19,066,064 3,359,779 7,524,639 39%
Enterprise Funds
600 Consolidated Building 1,902,137 126,922 255,597 2,205,269 57,684 1,588,856 16%
601 Parking Garages 1,203,962 26,803 121,099 1,262,212 2,470 1,080,392 10%
602 Morris Performing Arts Center Operations 1,774,441 126,937 232,632 1,413,999 98,033 1,443,776 19%
610 Solid Waste Operations 8,047,429 606,407 2,038,816 7,616,354 1,189,017 4,819,596 40%
611 Solid Waste Capital 6,189,714 - 1,137,536 977,143 3,445,051 1,607,127 74%
620 Water Works Operations 24,409,097 1,387,228 3,423,263 19,134,577 1,092,590 19,893,244 19%
622 Water Works Capital 8,928,059 68,117 249,565 4,237,907 1,756,888 6,921,606 22%
624 Water Works Customer Deposit - - - - - - 0%
625 Water Works Sinking (Debt Service) 2,756,078 - - 1,401,675 - 2,756,078 0%
626 Water Works Bond Reserve - - - - - - 0%
629 Water Works Operations & Maintenance Reserve - - - - - - 0%
640 Sewer Repair Insurance 1,061,798 89,850 142,804 925,437 193,594 725,401 32%
641 Sewage Works Operations 48,981,742 2,439,002 6,813,887 37,432,072 2,126,069 40,041,787 18%
642 Sewage Works Capital 20,043,380 65,257 176,157 3,417,492 4,028,533 15,838,690 21%
643 Sewage Works Operations & Maintenance Reserve - - - - - - 0%
649 Sewage Sinking (Debt Service) 9,796,969 1,300 1,299 7,496,591 - 9,795,670 0%
653 Sewage Debt Service Reserve - - - - - - 0%
654 Sewage Works Customer Deposit - - - - - - 0%
667 Storm Sewer 3,178,875 105,028 110,265 676,423 1,422,022 1,646,589 48%
670 Century Center Operations 4,688,456 312,203 668,571 4,128,823 29,197 3,990,687 15%
671 Century Center Capital 296,636 17,230 31,283 415,617 222,614 42,739 86%
Total Enterprise Funds 143,258,773 5,372,283 15,402,774 92,741,592 15,663,762 112,192,238 22%
Internal Service Funds
222 Central Services 12,048,561 914,657 1,806,126 10,150,004 123,744 10,118,691 16%
224 Central Services Capital - - - - - - 0%
226 Liability Insurance 4,090,903 129,837 549,828 3,021,317 450,296 3,090,780 24%
278 Police Take Home Vehicle 50,000 - - 1,040 - 50,000 0%
279 IT / Innovation / 311 Call Center 14,704,249 732,103 2,163,321 9,426,505 2,965,875 9,575,052 35%
711 Self-Funded Employee Benefits 20,822,900 1,318,099 2,652,030 19,237,373 3,545,021 14,625,849 30%
713 Unemployment Compensation 80,000 5,360 5,360 77,693 - 74,640 7%
714 Parental Leave 253,846 6,104 8,244 83,396 - 245,602 3%
Total Internal Service Funds 52,050,459 3,106,160 7,184,909 41,997,329 7,084,936 37,780,614 27%
Fiduciary Funds
701 Fire Pension 4,448,896 333,231 666,293 4,043,751 3,500 3,779,103 15%
702 Police Pension 5,894,664 505,154 1,024,964 6,110,205 3,500 4,866,200 17%
Total Fiduciary Funds 10,343,560 838,385 1,691,257 10,153,956 7,000 8,645,303 16%
Total City Controlled Funds 512,743,814 30,050,177 64,624,714 381,658,643 77,143,659 370,975,447 28%
* Percent of budget spent includes year to date expenditures and outstanding encumbrances
City of South Bend
Monthly Fund Financials
Expenditure Summary
February 29, 2024
Current
Amended
Budget
Current
Month
Actual
Current
Year to Date
Actual
Prior
Year to Date
Actual
Current
Encumbrances
Budget
Balance
Percent of
Budget*
Redevelopment Commission Controlled Funds
Tax Increment Financing Funds
324 TIF - River West Development Area 51,781,530 2,056,444 5,134,663 22,554,045 15,159,423 31,487,445 39%
422 TIF - West Washington 1,348,357 - 68,357 99,745 1,140,000 140,000 90%
429 TIF - River East Development Area (NE Dev) 10,522,446 216,103 216,103 3,834,024 3,554,803 6,751,539 36%
430 TIF - Southside Development Area #1 11,411,262 347,562 1,858,743 6,447,977 6,548,322 3,004,197 74%
435 TIF - Douglas Road 74,175 - - - - 74,175 0%
436 TIF - River East Residential Area (NE Res) 7,156,989 2,292,601 2,294,434 5,236,835 2,328,536 2,534,019 65%
Total Tax Increment Financing Funds 82,294,758 4,912,711 9,572,300 38,172,627 28,731,084 43,991,375 47%
Redevelopment Funds
433 Redevelopment General 2,971,846 17,720 422,346 2,170,909 694,211 1,855,289 38%
439 Certified Technology Park - - - - - - 0%
452 2018 TIF Park Bond Capital 2,315,432 - 919,772 7,480 1,395,660 - 100%
454 Airport Urban Enterprise Zone - - - - - - 0%
456 2023 South Bend Redevelopment Authority 20,104,297 7,522,545 7,598,306 6,815,738 5,277,427 7,228,564 64%
Total Redevelopment Funds 25,391,574 7,540,265 8,940,424 8,994,126 7,367,297 9,083,853 64%
Debt Service Funds
315 Airport 2003 Debt Reserve 1,040,462 - - - - 1,040,462 0%
328 SBCDA 2003 Debt Reserve 1,739,495 - - - - 1,739,495 0%
351 2018 TIF Park Bond Debt Service - - - - - - 0%
352 2019 South Shore Double Tracking Debt Service 1,033,625 516,500 516,500 1,030,125 - 517,125 50%
353 2020 TIF Library Bond Debt Service Reserve - - - 8 - - 0%
Total Debt Service Funds 3,813,582 516,500 516,500 1,030,133 - 3,297,082 14%
Total Redevelopment Commission Funds 111,499,915 12,969,476 19,029,224 48,196,886 36,098,381 56,372,309 49%
Grand Total 624,243,728 43,019,652 83,653,938 429,855,529 113,242,040 427,347,756 32%
* Percent of budget spent includes year to date expenditures and outstanding encumbrances
City of South Bend
Revenue by Type Report
Year to Date %
Revenue Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Taxes
Property Taxes
Civil City - - - - - - - - - - - - - 65,178,717 0%
TIF Districts - - - - - - - - - - - - - 30,399,445 0%
Sub Total - - - - - - - - - - - - - 95,578,162 0%
Local Income Tax
LIT Certified Shares 1,046,191 1,046,191 - - - - - - - - - - 2,092,381 12,554,287 17%
LIT for Economic Development 1,408,039 1,408,039 - - - - - - - - - - 2,816,078 16,896,469 17%
LIT for Public Safety 999,049 999,049 - - - - - - - - - - 1,998,097 11,988,584 17%
LIT for Redevelopment 0 0 - - - - - - - - - - 0 100 0%
LIT Additional - Supplemental Distrib - - - - - - - - - - - - - - NA
Sub Total 3,453,278 3,453,278 - - - - - - - - - - 6,906,557 41,439,440 17%
Total Taxes 3,453,278 3,453,278 - - - - - - - - - - 6,906,557 137,017,602 5%
Intergovernmental Revenue
State Shared Revenue
Auto Excise Tax - - - - - - - - - - - - - 3,889,020 0%
Commercial Vehicle Tax - - - - - - - - - - - - - 927,699 0%
Liquor Excise Tax 44,682 - - - - - - - - - - - 44,682 70,980 63%
Liquor Gallonage Tax 65,088 - - - - - - - - - - - 65,088 252,713 26%
Cigarette Tax - - - - - - - - - - - - - 236,857 0%
Gasoline Tax 524,882 527,432 - - - - - - - - - - 1,052,313 6,201,482 17%
Wheel Tax 140,469 - - - - - - - - - - - 140,469 2,100,000 7%
PSCDA Tax - 1,276,681 - - - - - - - - - - 1,276,681 5,000,000 26%
State Pension Subsidy - - - - - - - - - - - - - 10,400,000 0%
Sub Total 775,121 1,804,113 - - - - - - - - - - 2,579,234 29,078,751 9%
Local Government Shared Revenue
Hotel Motel Tax - - - - - - - - - - - - - 2,656,437 0%
Grants
Federal Grants 445,870 432,146 - - - - - - - - - - 878,016 4,232,568 21%
State Grants - - - - - - - - - - - - - 100,000 0%
Sub Total 445,870 432,146 - - - - - - - - - - 878,016 4,332,568 20%
Other Intergovernmental
Staffing Agreements with County - - - - - - - - - - - - - 30,000 0%
Local Government Grants 0 - - - - - - - - - - - 0 - NA
Federal Seized Drug 11,138 4,479 - - - - - - - - - - 15,618 80,000 20%
State Seized Drug 6,742 1,080 - - - - - - - - - - 7,823 15,000 52%
Sub Total 17,881 5,560 - - - - - - - - - - 23,440 125,000 19%
Total Intergovernmental Revenue 1,238,871 2,241,818 - - - - - - - - - - 3,480,690 36,192,756 10%
Licenses & Permits
Business
Business Licenses 23,545 27,329 - - - - - - - - - - 50,873 104,025 49%
Taxi Cab Licensing 76 55 - - - - - - - - - - 131 2,500 5%
Sub Total 23,621 27,384 - - - - - - - - - - 51,004 106,525 48%
Nonbusiness
Lawn Parking 135 135 - - - - - - - - - - 270 10,000 3%
Engineering 9,170 13,720 - - - - - - - - - - 22,890 155,582 15%
Right-of-Way Closures - 150 - - - - - - - - - - 150 1,500 10%
Park Food Sales Permit 26 - - - - - - - - - - - 26 - NA
Fire Dept-Building Plan Review 988 1,731 - - - - - - - - - - 2,719 26,000 10%
Building Department 101,252 145,363 - - - - - - - - - - 246,616 1,594,100 15%
SBARC - Pet Licenses 1,235 2,035 - - - - - - - - - - 3,270 37,000 9%
Sub Total 112,807 163,134 - - - - - - - - - - 275,941 1,824,182 15%
Total Licenses & Permits 136,427 190,518 - - - - - - - - - - 326,945 1,930,707 17%
Period Ending: February 29, 2024
City of South Bend
Revenue by Type Report
Year to Date %
Revenue Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Period Ending: February 29, 2024
Charges for Services
General Government
Plan Commission Charges - - - - - - - - - - - - - 4,100 0%
Copies of Public Records - - - - - - - - - - - - - 1,200 0%
Historic Preserv Certificate of Approval 40 160 - - - - - - - - - - 200 2,000 10%
IT Services - - - - - - - - - - - - - - NA
Sub Total 40 160 - - - - - - - - - - 200 7,300 3%
Public Safety
Accident Report Copies 7,095 7,091 - - - - - - - - - - 14,186 85,300 17%
Traffic Signal Maintenance 4,929 990 - - - - - - - - - - 5,919 150,000 4%
EMS Special Event Coverage - 10,839 - - - - - - - - - - 10,839 160,000 7%
Regional Academy Tuition 6,350 4,100 - - - - - - - - - - 10,450 20,000 52%
River Rescue School Tuition 38,000 23,200 - - - - - - - - - - 61,200 90,000 68%
Fire Training Center Tuition 45,309 - - - - - - - - - - - 45,309 50,000 91%
Emergency Medical Service 434,664 467,495 - - - - - - - - - - 902,159 3,180,000 28%
Medicaid Reimbursements - - - - - - - - - - - - - 469,580 0%
EMS for County 172,657 172,857 - - - - - - - - - - 345,514 2,066,825 17%
Hazmat Charges - 1,745 - - - - - - - - - - 1,745 5,000 35%
Police Special Event Coverage - - - - - - - - - - - - - 15,900 0%
Crime Lab Services 950 788 - - - - - - - - - - 1,738 10,000 17%
EMS Late Payment Interest - - - - - - - - - - - - - 15,000 0%
Misc Revenue - - - - - - - - - - - - - 500 0%
Sub Total 709,955 689,104 - - - - - - - - - - 1,399,059 6,318,105 22%
Culture & Recreation
Morris Performing Arts Center 44,398 89,262 - - - - - - - - - - 133,660 1,587,871 8%
Palais Royale Ballroom 14,469 7,715 - - - - - - - - - - 22,184 173,234 13%
Parks & Recreation 306,124 157,178 - - - - - - - - - - 463,302 2,959,252 16%
Lease of Coveleski Stadium - - - - - - - - - - - - - 25,000 0%
Century Center 201,550 55,490 - - - - - - - - - - 257,040 3,228,900 8%
Sub Total 566,541 309,645 - - - - - - - - - - 876,186 7,974,257 11%
Highways & Streets
Sale of Signs/Materials - - - - - - - - - - - - - 3,300 0%
Special Events - - - - - - - - - - - - - 12,000 0%
Sub Total - - - - - - - - - - - - - 15,300 0%
Sanitation
Trash Collection/Residential 553,115 566,890 - - - - - - - - - - 1,120,005 6,627,390 17%
Trash Collection/Commercial 11,273 11,590 - - - - - - - - - - 22,863 140,713 16%
Trash Collection/Apt 2 Units 4,599 4,774 - - - - - - - - - - 9,373 58,631 16%
Trash Collection/Apt 3 Units 2,110 2,240 - - - - - - - - - - 4,350 26,970 16%
Trash Collection/Apt 4 Units 2,768 2,883 - - - - - - - - - - 5,651 32,833 17%
Trash Collection/Seniors - - - - - - - - - - - - - 52,767 0%
Trash Collection/Special Pickup 1,800 2,500 - - - - - - - - - - 4,300 33,768 13%
Trash Collection/Yard Waste Pickup 20 10 - - - - - - - - - - 30 759 4%
Misc/Additional Trash Totes (78) (324) - - - - - - - - - - (401) - NA
Misc/Return Trip Customer Error 1,060 670 - - - - - - - - - - 1,730 12,225 14%
Misc/Contamination Fee 100 10 - - - - - - - - - - 110 3,320 3%
Misc/Tote Replacement Fee 300 600 - - - - - - - - - - 900 6,430 14%
Misc/Trash Start Fee 2,394 3,130 - - - - - - - - - - 5,524 49,594 11%
Misc/Yard Waste Totes 96 139 - - - - - - - - - - 236 835,520 0%
Sub Total 579,558 595,112 - - - - - - - - - - 1,174,671 7,880,920 15%
City of South Bend
Revenue by Type Report
Year to Date %
Revenue Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Period Ending: February 29, 2024
Charges for Services
Utilities - Water
Metered Sales/Residential 647,022 674,977 - - - - - - - - - - 1,321,999 9,232,159 14%
Metered Sales/Commercial 192,796 202,383 - - - - - - - - - - 395,179 2,930,546 13%
Metered Sales/Industrial 25,663 28,776 - - - - - - - - - - 54,439 560,965 10%
Metered Sales/Multi Family 101,411 104,690 - - - - - - - - - - 206,101 1,400,014 15%
Bulk Sales/Olive St - - - - - - - - - - - - - 8,087 0%
Metered Sales/Institution 10,527 11,462 - - - - - - - - - - 21,989 151,759 14%
Public Fire Protection 219,246 224,763 - - - - - - - - - - 444,009 2,949,806 15%
Private Fire Protection 40,563 41,705 - - - - - - - - - - 82,267 554,704 15%
Sales to Public Authorities 30,812 31,927 - - - - - - - - - - 62,739 326,737 19%
Irrigation Sales 98 294 - - - - - - - - - - 393 1,565,306 0%
Other Water/Misc Service 25,046 22,275 - - - - - - - - - - 47,321 537,812 9%
Backflow Prevention Insp. 10,575 17,675 - - - - - - - - - - 28,250 183,931 15%
Water Main Extension - - - - - - - - - - - - - - NA
Rents From Water Property - - - - - - - - - - - - - - NA
Revenue From Cut Off Fees 375 - - - - - - - - - - - 375 5,025 7%
Penalties (Forfeit Disc.) 9,765 7,833 - - - - - - - - - - 17,597 83,415 21%
Water Leak Insurance 88,776 88,686 - - - - - - - - - - 177,462 1,202,845 15%
System Development Fee 4,283 863 - - - - - - - - - - 5,146 210,000 2%
Sub Total 1,406,957 1,458,310 - - - - - - - - - - 2,865,267 21,903,109 13%
Utilities - Sewage
Metered Sales/Residential 1,870,114 1,871,723 - - - - - - - - - - 3,741,836 21,688,403 17%
Metered Sales/Commercial 655,983 687,408 - - - - - - - - - - 1,343,391 8,194,741 16%
Metered Sales/Industrial 454,204 439,034 - - - - - - - - - - 893,238 5,842,543 15%
Metered Sales/Multi Family 267,814 272,266 - - - - - - - - - - 540,080 3,409,642 16%
Metered Sales/Institution 28,385 29,460 - - - - - - - - - - 57,845 324,096 18%
Sales to Public Authority 83,071 86,314 - - - - - - - - - - 169,385 1,216,439 14%
Wholesale Meter/New Carlisle - - - - - - - - - - - - - 276,556 0%
Penalties (Forfeit Disc.) 57,122 47,831 - - - - - - - - - - 104,953 590,930 106%
Dumping Fees 2,607 2,299 - - - - - - - - - - 4,906 24,878 20%
Laboratory Service Fees 1,950 - - - - - - - - - - - 1,950 1,687 116%
Discharge Permit Fees 1,250 2,000 - - - - - - - - - - 3,250 6,187 53%
System Development Fee 11,996 2,080 - - - - - - - - - - 14,076 339,000 4%
346113 - ChargesSewer System Finance Charge - - - - - - - - - - - NA
Sewer Repair Insurance 49,291 49,203 - - - - - - - - - - 98,495 585,295 17%
Sewer Repair Deductible 10,793 10,608 - - - - - - - - - - 21,401 80,800 26%
UAP Assistance Fee 84,036 84,097 - - - - - - - - - - 168,133 902,160 19%
UAP Credit (Contra) (60,336) (60,553) - - - - - - - - - - (120,889) (902,160) 13%
RINS Credits - - - - - - - - - - - - - - NA
346123 - Charges for Svcs-Utilities-Sewage-Disconnect Program FeeDisconnect Program Fee - - - - - - - - - - - - - - NA
Unmetered Sewer Fee 24,062 22,987 - - - - - - - - - - 47,049 - NA
Sub Total 3,542,340 3,546,757 - - - - - - - - - - 7,089,098 42,581,197 17%
Utilities - Other
Storm Water Fees 92,626 105,123 - - - - - - - - - - 197,749 1,147,200 17%
Clean Air/ReLeaf (Leaf Pickup) 37,890 37,812 - - - - - - - - - - 75,702 456,126 17%
Sub Total 130,516 142,936 - - - - - - - - - - 273,451 1,603,326 17%
Organic Resources
Yard Waste Drop-Off 1,395 3,403 - - - - - - - - - - 4,797 94,528 5%
Mulch/Compost Sales 30 323 - - - - - - - - - - 353 62,058 1%
Sub Total 1,425 3,726 - - - - - - - - - - 5,151 156,586 3%
City of South Bend
Revenue by Type Report
Year to Date %
Revenue Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Period Ending: February 29, 2024
Charges for Services
Animal Resource Center
Pet Impound Reclaim Fee 175 265 - - - - - - - - - - 440 6,300 7%
Pet Adoption Fees 1,020 1,865 - - - - - - - - - - 2,885 25,000 12%
Pick Up Fees 80 80 - - - - - - - - - - 160 500 32%
Pet Micro Chipping 370 100 - - - - - - - - - - 470 3,600 13%
Vet Expenses 135 10 - - - - - - - - - - 145 3,100 5%
Pet Euthanasia 20 120 - - - - - - - - - - 140 100 140%
Animal Surrenders 580 660 - - - - - - - - - - 1,240 8,000 16%
Cremation 135 375 - - - - - - - - - - 510 2,200 23%
Rabies Specimen Prep 30 - - - - - - - - - - - 30 500 6%
Boarding - - - - - - - - - - - - - 1,000 0%
Sub Total 2,545 3,475 - - - - - - - - - - 6,020 50,300 12%
Other
DCI Staff Contracts - 12,500 - - - - - - - - - - 12,500 1,216,138 1%
Other Misc Charges for Services - - - - - - - - - - - - - - NA
Parking-Garages 61,523 6,931 - - - - - - - - - - 68,454 1,110,288 6%
Parking-Century Center 7,445 12,705 - - - - - - - - - - 20,150 112,200 18%
Central Services-Internal Customers 696,181 801,931 - - - - - - - - - - 1,498,112 11,193,493 13%
Central Services-External Customers 17,345 22,321 - - - - - - - - - - 39,666 405,909 10%
Employee & Employer Assessments 1,501,328 1,489,668 - - - - - - - - - - 2,990,996 21,061,140 14%
Sub Total 2,283,821 2,346,057 - - - - - - - - - - 4,629,878 35,099,168 13%
Total Charges for Services 9,223,698 9,095,283 - - - - - - - - - - 18,318,980 123,589,568 15%
Fines, Forfeitures, & Fees
General
Ordinance Violation - - - - - - - - - - - - - 5,500 0%
Bad Checks Fines - - - - - - - - - - - - - - NA
Collections - 64 - - - - - - - - - - 64 - NA
Court Fees - 1,253 - - - - - - - - - - 1,253 10,600 12%
Plan Commission Application Fee 2,100 2,800 - - - - - - - - - - 4,900 23,250 21%
Zoning Appeals Application Fee 900 1,625 - - - - - - - - - - 2,525 11,250 22%
Zoning Admin Fees 1,050 1,270 - - - - - - - - - - 2,320 13,950 17%
Zoning Admin Fines - - - - - - - - - - - - - - NA
Tax Abatement Admin Fees 1,446 - - - - - - - - - - - 1,446 10,000 14%
Test Filling Fees 200 500 - - - - - - - - - - 700 8,000 9%
Econ Dev-CDBG Loan Late Fees - - - - - - - - - - - - - - NA
Sub Total 5,696 7,511 - - - - - - - - - - 13,207 82,550 16%
Code Enforcement
Vacant Bldg Registration - - - - - - - - - - - - - 12,900 0%
Landlord Registration Fee 35 55 - - - - - - - - - - 90 - NA
Rental Unit Safety Fees 10,250 5,750 - - - - - - - - - - 16,000 100,000 16%
Demolition & Boarding 2,162 1,976 - - - - - - - - - - 4,138 45,000 9%
Collections - 278 - - - - - - - - - - 278 12,000 2%
Environmental Violations 7,643 10,486 - - - - - - - - - - 18,129 165,000 11%
Ordinance Violation 2,319 8,038 - - - - - - - - - - 10,357 27,500 38%
Animal Ordinance Violation 1,255 169 - - - - - - - - - - 1,425 25,000 6%
Forfeitures-Civil Penalties - - - - - - - - - - - - - 117,500 0%
351204 - Fines/Forfeitures/Fees-Forfeitures-Civil PenaltiesForfeitures-Chronic Problem - - - - - - - - - - - - - - NA
Sub Total 23,665 26,751 - - - - - - - - - - 50,416 504,900 10%
Parking
Street Parking Fines 6,480 7,100 - - - - - - - - - - 13,580 60,298 23%
City of South Bend
Revenue by Type Report
Year to Date %
Revenue Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Period Ending: February 29, 2024
Fines, Forfeitures, & Fees
Public Safety
False Alarms Fine 8,267 10,508 - - - - - - - - - - 18,775 84,800 22%
Noise Ordinance - 2,500 - - - - - - - - - - 2,500 1,060 236%
Curfew Violation - - - - - - - - - - - - - 212 0%
Impound Towing Fees 2,000 840 - - - - - - - - - - 2,840 10,600 27%
Sub Total 10,267 13,848 - - - - - - - - - - 24,115 96,672 25%
Total Fines, Forfeitures, & Fees 46,109 55,210 - - - - - - - - - - 101,319 744,420 14%
Other Income
Miscellaneous Revenue
Miscellaneous Revenue 108,011 (9,877) - - - - - - - - - - 98,135 350,336 28%
Sale of Scrap Metal 49 3,594 - - - - - - - - - - 3,643 19,155 19%
Bond Interest Rebate - - - - - - - - - - - - - 64,132 0%
Origination Fees 1,000 600 - - - - - - - - - - 1,600 7,000 23%
Loan Servicing Fees 1,820 14,464 - - - - - - - - - - 16,285 15,000 109%
Sub Total 110,881 8,781 - - - - - - - - - - 119,662 455,623 26%
Bank Account Interest 1,285,281 1,178,725 - - - - - - - - - - 2,464,006 3,715,036 66%
Rental of Property 10,895 13,701 - - - - - - - - - - 24,596 135,171 18%
Donations 2,334 1,496 - - - - - - - - - - 3,829 9,720,560 0%
3rd Party Revenue
Cable TV Franchise Fees - 132,654 - - - - - - - - - - 132,654 680,000 20%
Video Franchise Fees - - - - - - - - - - - - - 135,000 0%
Sub Total - 132,654 - - - - - - - - - - 132,654 815,000 16%
Total Other Income 1,409,390 1,335,357 - - - - - - - - - - 2,744,747 14,841,390 18%
Reimbursements
Miscellaneous Reimbursements 47,925 211,656 - - - - - - - - - - 259,582 26,100 995%
Insurance Claim 17,943 26,560 - - - - - - - - - - 44,503 46,200 96%
IT Services 66,934 441 - - - - - - - - - - 67,375 73,764 91%
Travel Reimbursement - - - - - - - - - - - - - 1,400 0%
Lamppost Program - - - - - - - - - - - - - 8,000 0%
Energy Rebates - - - - - - - - - - - - - 45,000 0%
Repair Reimbursement 120 75 - - - - - - - - - - 195 21,200 1%
Salary/Overtime Reimb 7,493 4,749 - - - - - - - - - - 12,242 350,000 3%
Diesel Tax Rebate 21,587 - - - - - - - - - - - 21,587 40,000 54%
Pharmacy Rebates 75,516 72,250 - - - - - - - - - - 147,767 750,000 20%
Beck's Lake Reimbursement - - - - - - - - - - - - - - NA
Morris Advertising Reimbursement - - - - - - - - - - - - - - NA
Sub Total 237,519 315,733 - - - - - - - - - - 553,251 1,361,664 41%
Departmental Reimbursements - - - - - - - - - - - - - - NA
Total Reimbursements 237,519 315,733 - - - - - - - - - - 553,251 1,361,664 41%
Other Sources
Interfund Transfers & Fixed Cost Allocations
Interfund Transfers In 5,383,659 3,369,609 - - - - - - - - - - 8,753,268 66,265,624 13%
PILOT 3,024,351 12,258 - - - - - - - - - - 3,036,609 6,024,186 50%
Administration Cost Allocation 793,417 793,417 - - - - - - - - - - 1,586,833 9,521,000 17%
IT Cost Allocation 1,091,691 1,091,691 - - - - - - - - - - 2,183,383 13,100,296 17%
Liability Insurance Allocation 303,333 303,333 - - - - - - - - - - 606,667 3,639,999 17%
Payroll Cost Allocation 197,090 197,090 - - - - - - - - - - 394,180 2,365,077 17%
Facilities Management Allocation 13,333 13,333 - - - - - - - - - - 26,667 160,000 17%
Utility Customer Service Mgmt Allocation 134,688 134,688 - - - - - - - - - - 269,375 1,616,250 17%
Sub Total 10,941,562 5,915,419 - - - - - - - - - - 16,856,980 102,692,433 16%
City of South Bend
Revenue by Type Report
Year to Date %
Revenue Type Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Period Ending: February 29, 2024
Other Sources
Sale of Assets
Sale of Capital Assets - - - - - - - - - - - - - - NA
Sale of Non-Capital Assets - - - - - - - - - - - - - - NA
Sale of Property - 8,935 - - - - - - - - - - 8,935 - NA
Other Damage Reimbursement - - - - - - - - - - - - - - NA
Vehicle Damage Reimbursement - - - - - - - - - - - - - - NA
Hydrant Damage Reimbursement - 386 - - - - - - - - - - 386 - NA
Sub Total - 9,321 - - - - - - - - - - 9,321 - NA
Issuance of Debt
Capital Lease Proceeds - - - - - - - - - - - - - 11,928,500 0%
Bond Proceeds - - - - - - - - - - - - - - NA
Premium on Bonds - - - - - - - - - - - - - - NA
Sub Total - - - - - - - - - - - - - 11,928,500 0%
Refunds
Refunds 1,151 3,269 - - - - - - - - - - 4,420 - NA
Specific Stop Loss - - - - - - - - - - - - - 10,000 0%
Utility Receipts Tax Refund - - - - - - - - - - - - - - NA
Sub Total 1,151 3,269 - - - - - - - - - - 4,420 10,000 44%
Other
Sale of Property Held for Resale - - - - - - - - - - - - - - NA
Interfund Loan - Principal Income - 71,390 - - - - - - - - - - 71,390 126,129 57%
Interfund Loan - Interest Income - 6,679 - - - - - - - - - - 6,679 12,386 54%
Other Loan - Principal Income 122 231,051 - - - - - - - - - - 231,174 10,000 2312%
Other Loan - Interest Income 42,326 41,054 - - - - - - - - - - 83,380 152,300 55%
Sub Total 42,448 350,173 - - - - - - - - - - 392,622 300,814 131%
Total Other Sources 10,985,161 6,278,182 - - - - - - - - - - 17,263,343 114,931,747 15%
Revenue Total 26,730,453 22,965,379 - - - - - - - - - - 49,695,832 430,609,853 12%
City of South Bend
Expenditures by Activity
Year to Date Amended %Division Fund Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
General Fund
General Government
Mayor 101 91,660 80,469 - - - - - - - - - - 172,128 1,197,172 14%
Community Initiatives 101 - - - - - - - - - - - - - - NA
Community Police Review Office 101 7,591 7,686 - - - - - - - - - - 15,277 100,155 15%
Clerk 101 45,913 39,477 - - - - - - - - - - 85,390 595,854 14%
Common Council 101 32,826 45,894 - - - - - - - - - - 78,719 943,451 8%
Youth Council 101 1,345 327 - - - - - - - - - - 1,672 - NA
General City 101 426,770 960,642 - - - - - - - - - - 1,387,412 22,297,344 6%
Controller' Office 101 193,693 195,679 - - - - - - - - - - 389,372 3,297,523 12%
Human Resources 101 71,705 67,474 - - - - - - - - - - 139,178 940,763 15%
Diversity & Inclusion 101 38,122 35,883 - - - - - - - - - - 74,006 752,583 10%
Human Rights 101 24,945 27,149 - - - - - - - - - - 52,094 596,497 9%
Legal 101 142,839 129,998 - - - - - - - - - - 272,837 2,010,262 14%
Engineering 101 500,000 500,000 - - - - - - - - - - 1,000,000 6,000,000 17%
Park Maintenance 101 200,127 - - - - - - - - - - - 200,127 2,226,831 9%
Curb & Sidewalk 101 133,333 133,333 - - - - - - - - - - 266,667 1,600,000 17%
Street Signals & Lighting 101 109,905 122,287 - - - - - - - - - - 232,192 - NA
Streets 101 458,333 458,333 - - - - - - - - - - 916,667 5,500,000 17%
Sub Total 2,479,107 2,804,630 - - - - - - - - - - 5,283,738 48,058,435 11%
Public Works
Engineering 101 262,558 268,971 - - - - - - - - - - 531,528 4,769,887 11%
Sub Total 262,558 268,971 - - - - - - - - - - 531,528 4,769,887 11%
Public Safety
Police 101 3,630,157 3,383,135 - - - - - - - - - - 7,013,292 45,832,381 15%
Crime Lab 101 67,402 71,260 - - - - - - - - - - 138,662 960,068 14%
Fire 101 2,423,635 2,223,951 - - - - - - - - - - 4,647,586 31,358,362 15%
EMS 101 75,351 45,296 - - - - - - - - - - 120,647 773,498 16%
Fire Training Center 101 19,938 5,404 - - - - - - - - - - 25,342 80,725 31%
Sub Total 6,216,483 5,729,046 - - - - - - - - - - 11,945,529 79,005,033 15%
Community Investment
Sustainability 101 - - - - - - - - - - - - - 33,000 0%
Sub Total - - - - - - - - - - - - - 33,000 0%
Arts & Culture
Morris Performing Arts Center 101 - - - - - - - - - - - - - - NA
Palais Royale Ballroom 101 14,897 18,551 - - - - - - - - - - 33,448 235,098 14%
Sub Total 14,897 18,551 - - - - - - - - - - 33,448 235,098 14%
Total General Fund 8,973,046 8,821,197 - - - - - - - - - - 17,794,243 132,101,452 13%
Venues, Parks & Arts
Parks & Recreation
Park Administration 201 82,457 80,520 - - - - - - - - - - 162,977 1,313,653 12%
Park Maintenance 201 717,986 626,628 - - - - - - - - - - 1,344,614 10,202,802 13%
Golf Courses 201 96,252 197,483 - - - - - - - - - - 293,735 2,769,442 11%
Recreational Experiences 201 183,493 178,750 - - - - - - - - - - 362,242 2,653,124 14%
Community Programming 201 91,707 78,531 - - - - - - - - - - 170,238 1,942,591 9%
Development & Promotions 201 41,589 50,897 - - - - - - - - - - 92,486 1,660,081 6%
Park Projects & Capital 201 146,658 317,847 - - - - - - - - - - 464,505 8,935,621 5%
Potawatomi Zoo 201 200,285 285 - - - - - - - - - - 200,570 403,422 50%
Park Debt 201 - - - - - - - - - - - - - 5,500 0%
Machinery & Equipment 201 140,461 68,725 - - - - - - - - - - 209,185 1,735,079 12%
Morris Palais Marketing 273 - - - - - - - - - - - - - - NA
Morris PAC Self-Promotion 274 - - - - - - - - - - - - - - NA
Coveleski Stadium Capital 401 - 3,124 - - - - - - - - - - 3,124 40,000 8%
Professional Sports Convention Dev. Area 413 43,973 156,222 - - - - - - - - - - 200,194 732,837 27%
Morris PAC Improvement 416 4,445 - - - - - - - - - - - 4,445 486,012 1%
Palais Historic Preservation 450 - - - - - - - - - - - - - 20,000 0%
Morris Performing Arts Center Operations 602 105,695 126,937 - - - - - - - - - - 232,632 1,774,441 13%
Sub Total 1,855,000 1,885,948 - - - - - - - - - - 3,740,948 34,674,604 11%
Period Ending: February 29, 2024
City of South Bend
Expenditures by Activity
Year to Date Amended %Division Fund Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Period Ending: February 29, 2024
Parking Garages
Parking Enforcement 601 34,712 100 - - - - - - - - - - 34,812 233,434 15%
Parking General Operations 601 13,392 4,199 - - - - - - - - - - 17,591 109,970 16%
Main Street Garage 601 25,471 8,279 - - - - - - - - - - 33,750 299,473 11%
Leighton Plaza Garage 601 24,004 9,127 - - - - - - - - - - 33,131 302,499 11%
Wayne Street Garage 601 (3,283) 5,098 - - - - - - - - - - 1,815 258,586 1%
Sub Total 94,297 26,803 - - - - - - - - - - 121,099 1,203,962 10%
Century Center
Century Center Operations 670 356,368 312,203 - - - - - - - - - - 668,571 4,688,456 14%
Century Center Capital 671 14,053 17,230 - - - - - - - - - - 31,283 296,636 11%
Century Center Energy Saving 672 - - - - - - - - - - - - - 393,388 0%
Sub Total 370,421 329,433 - - - - - - - - - - 699,854 5,378,479 13%
Total Venues, Parks & Arts 2,319,718 2,242,184 - - - - - - - - - - 4,561,902 41,257,044 11%
Public Safety
Police Department
Police Seizures 216 - - - - - - - - - - - - - 22,000 0%
Curfew Violations 218 - - - - - - - - - - - - - - NA
Law Enforcement Education 220 43,365 184,263 - - - - - - - - - - 227,628 550,038 41%
Public Safety Local Income Tax - Police 249 398,269 398,269 - - - - - - - - - - 796,538 5,177,494 15%
Police Take Home Vehicle 278 - - - - - - - - - - - - - 50,000 0%
Police Block Grant 280 - - - - - - - - - - - - - - NA
Police Grants 292 - - - - - - - - - - - - - - NA
Police Academy 294 - - - - - - - - - - - - - - NA
COPS MORE Grants 295 - - - - - - - - - - - - - - NA
Drug Enforcement 299 - - - - - - - - - - - - - 50,000 0%
K-9 Unit 705 - - - - - - - - - - - - - - NA
Sub Total 441,634 582,532 - - - - - - - - - - 1,024,166 5,849,532 18%
Fire Department
Public Safety Local Income Tax - Fire 249 398,269 398,269 - - - - - - - - - - 796,538 5,177,494 15%
Fire Department Capital 287 542,292 31,369 - - - - - - - - - - 573,661 6,923,119 8%
Haz-Mat 289 - - - - - - - - - - - - - 10,000 0%
Indiana River Rescue 291 1,657 4,891 - - - - - - - - - - 6,548 94,871 7%
Sub Total 942,218 434,529 - - - - - - - - - - 1,376,746 12,205,483 11%
Total Public Safety 1,383,852 1,017,060 - - - - - - - - - - 2,400,912 18,055,015 13%
Public Works
Streets
Motor Vehicle Highway 202 1,368,619 900,596 - - - - - - - - - - 2,269,215 19,385,841 12%
Local Road & Street 251 284,222 188,112 - - - - - - - - - - 472,334 5,088,939 9%
LOIT 2016 Special Distribution 257 - - - - - - - - - - - - - 54,136 0%
Local Road & Bridge Grant 265 - - - - - - - - - - - - - 2,222,695 0%
MVH Restricted Fund 266 93,995 15,015 - - - - - - - - - - 109,010 3,353,471 3%
Major Moves 412 27,082 962 - - - - - - - - - - 28,044 1,707,634 2%
Project ReLeaf 655 35,341 30,023 - - - - - - - - - - 65,364 440,757 15%
Sub Total 1,809,259 1,134,708 - - - - - - - - - - 2,943,966 32,253,474 9%
Solid Waste
Solid Waste Operations 610 1,432,409 606,407 - - - - - - - - - - 2,038,816 8,047,429 25%
Solid Waste Capital 611 1,137,536 - - - - - - - - - - - 1,137,536 6,189,714 18%
Sub Total 2,569,945 606,407 - - - - - - - - - - 3,176,353 14,237,144 22%
Water Works
Water Works Operations 620 2,036,035 1,387,228 - - - - - - - - - - 3,423,263 24,409,097 14%
Water Works Capital 622 181,448 68,117 - - - - - - - - - - 249,565 8,928,059 3%
Water Works Sinking (Debt Service) 625 - - - - - - - - - - - - - 2,756,078 0%
Sub Total 2,217,483 1,455,345 - - - - - - - - - - 3,672,828 36,093,234 10%
City of South Bend
Expenditures by Activity
Year to Date Amended %Division Fund Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Period Ending: February 29, 2024
Wastewater/Sewer/Organic Resources
Sewer Repair Insurance 640 52,954 89,850 - - - - - - - - - - 142,804 1,061,798 13%
Sewer Division 641 512,965 603,617 - - - - - - - - - - 1,116,582 7,803,414 14%
Concrete Crew 641 41,920 52,141 - - - - - - - - - - 94,061 592,720 16%
Wastewater Operations 641 3,681,414 1,644,024 - - - - - - - - - - 5,325,438 38,925,118 14%
Organic Resources 641 138,586 139,220 - - - - - - - - - - 277,806 1,660,490 17%
Sewage Works Capital 642 110,899 65,257 - - - - - - - - - - 176,157 20,043,380 1%
Sewage Works Sinking (Debt Service) 649 (1) 1,300 - - - - - - - - - - 1,299 9,796,969 0%
Sub Total 4,538,737 2,595,409 - - - - - - - - - - 7,134,146 79,883,889 9%
Storm Water Fees
Storm Sewer Fund 667 5,237 105,028 - - - - - - - - - - 110,265 3,178,875 3%
Sub Total 5,237 105,028 - - - - - - - - - - 110,265 3,178,875 3%
Total Public Works 11,140,662 5,896,896 - - - - - - - - - - 17,037,558 165,646,615 10%
Department of Community Investment
Studebaker/Oliver Revitalizing Grant 209 188 338 - - - - - - - - - - 525 98,331 1%
Economic Development State Grants 210 - - - - - - - - - - - - - 222,865 0%
DCI Operating 211 345,962 335,678 - - - - - - - - - - 681,640 5,063,734 13%
DCI Grants 212 17,649 47,115 - - - - - - - - - - 64,764 10,286,845 1%
Unsafe Building 219 2,600 - - - - - - - - - - - 2,600 24,880 10%
Rental Units Regulation 221 5,215 5,408 - - - - - - - - - - 10,622 206,211 5%
Neighborhood Services & Enforcement 230 267,227 188,204 - - - - - - - - - - 455,431 5,834,539 8%
Animal Resource Center 230 89,335 105,936 - - - - - - - - - - 195,271 1,307,230 15%
UDAG 410 - - - - - - - - - - - - - - NA
Building Dept Operations 600 128,675 126,922 - - - - - - - - - - 255,597 1,902,137 13%
Industrial Revolving Fund 754 19,090 3,882 - - - - - - - - - - 22,972 818,232 3%
Total Dept of Community Investment 875,940 813,482 - - - - - - - - - - 1,689,423 25,765,002 7%
Capital & Debt Service Funds
2017 Park Bond Debt Service 312 582,258 - - - - - - - - - - - 582,258 1,177,990 49%
2018 Fire Station #9 Debt Service 350 171,491 - - - - - - - - - - - 171,491 341,331 50%
Local Income Tax - Certified Shares 404 570,758 9,268 - - - - - - - - - - 580,026 3,513,740 17%
Cumulative Capital Development 406 41,667 41,667 - - - - - - - - - - 83,333 548,541 15%
Cumulative Capital Improvement 407 6,250 6,250 - - - - - - - - - - 12,500 245,000 5%
Local Income Tax - Economic Develop. 408 1,232,514 1,264,281 - - - - - - - - - - 2,496,795 33,318,192 7%
2018 Fire Station #9 Bond Capital 451 - - - - - - - - - - - - - - NA
2022 Zoo Bond Capital 453 0 - - - - - - - - - - - 0 - NA
2021 Infrastructure Bond Capital 455 204,135 - - - - - - - - - - - 204,135 723,498 28%
2017 Park Bond Capital 471 267,485 - - - - - - - - - - - 267,485 834,698 32%
Equipment / Vehicle Leasing 750 - - - - - - - - - - - - - - NA
Redevelopment Authority Debt Service 752 575,500 2,151,078 - - - - - - - - - - 2,726,578 4,689,081 58%
South Bend Building Corporation 755 - 851,884 - - - - - - - - - - 851,884 1,425,193 60%
2015 Smart Streets Bond Debt Service 756 - 851,534 - - - - - - - - - - 851,534 1,706,785 50%
2015 Park Bond Debt Service 757 - 185,091 - - - - - - - - - - 185,091 368,381 50%
2017 Eddy St. Commons Bond Capital 759 - - - - - - - - - - - - - - NA
2017 Eddy St. Commons Bond Debt 760 - - - - - - - - - - - - - 1,941,375 0%
Total Capital & Debt Service 3,652,056 5,361,053 - - - - - - - - - - 9,013,109 50,833,805 18%
Internal Service Funds
Central Services
Equipment Services 222 845,137 842,035 - - - - - - - - - - 1,687,172 10,925,452 15%
Radio Shop 222 17,296 16,880 - - - - - - - - - - 34,176 326,915 10%
Building Maintenance 222 17,691 19,525 - - - - - - - - - - 37,215 327,071 11%
Facilities Management 222 11,345 11,505 - - - - - - - - - - 22,850 152,254 15%
Central Services Capital 222 - 24,712 - - - - - - - - - - 24,712 316,869 8%
Subtotal 891,468 914,657 - - - - - - - - - - 1,806,126 12,048,561 15%
City of South Bend
Expenditures by Activity
Year to Date Amended %Division Fund Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Budget of Budget
Period Ending: February 29, 2024
Liability Insurance
Business Insurance 226 64,848 18,250 - - - - - - - - - - 83,098 1,358,778 6%
Liability Insurance 226 63,207 21,457 - - - - - - - - - - 84,664 1,355,068 6%
Workers Compensation 226 291,936 90,130 - - - - - - - - - - 382,066 1,275,288 30%
Catastrophic Events 226 - - - - - - - - - - - - - 101,769 0%
Subtotal 419,991 129,837 - - - - - - - - - - 549,828 4,090,903 13%
IT / Innovation /311 Call Center 279 1,431,218 732,103 - - - - - - - - - - 2,163,321 14,704,249 15%
Self-Funded Employee Benefits 711 1,333,932 1,318,099 - - - - - - - - - - 2,652,030 20,822,900 13%
Unemployment Compensation 713 - 5,360 - - - - - - - - - - 5,360 80,000 7%
Parental Leave 714 2,140 6,104 - - - - - - - - - - 8,244 253,846 3%
Total Internal Service Funds 4,078,749 3,106,160 - - - - - - - - - - 7,184,909 52,000,459 14%
Other
Miscellaneous
Gift, Donation, Bequest 217 - 3,000 - - - - - - - - - - 3,000 7,034,559 0%
Loss Recovery 227 - - - - - - - - - - - - - 1,500 0%
Human Rights Federal Grants 258 15,127 16,413 - - - - - - - - - - 31,540 268,204 12%
American Rescue Plan 263 1,250,125 1,919,527 - - - - - - - - - - 3,169,653 9,346,451 34%
COVID-19 Response 264 32,391 14,818 - - - - - - - - - - 47,209 90,148 52%
Sub Total 1,297,643 1,953,759 - - - - - - - - - - 3,251,402 16,740,861 19%
Fiduciary Funds
Fire Pension 701 333,062 333,231 - - - - - - - - - - 666,293 4,448,896 15%
Police Pension 702 519,810 505,154 - - - - - - - - - - 1,024,964 5,894,664 17%
Sub Total 852,872 838,385 - - - - - - - - - - 1,691,257 10,343,560 16%
Total Other 2,150,515 2,792,144 - - - - - - - - - - 4,942,659 27,084,421 18%
Total Civil City 34,574,538 30,050,177 - - - - - - - - - - 64,624,714 512,743,814 13%
Redevelopment Commission Controlled Funds
Tax Increment Financing Funds
TIF River West Development Area 324 3,078,219 2,056,444 - - - - - - - - - - 5,134,663 51,781,530 10%
TIF West Washington 422 68,357 - - - - - - - - - - - 68,357 1,348,357 5%
TIF River East Development Area 429 - 216,103 - - - - - - - - - - 216,103 10,522,446 2%
TIF Southside Development #1 430 1,511,180 347,562 - - - - - - - - - - 1,858,743 11,411,262 16%
TIF Douglas Road 435 - - - - - - - - - - - - - 74,175 0%
TIF River East Residential Area 436 1,833 2,292,601 - - - - - - - - - - 2,294,434 7,156,989 32%
Sub Total 4,659,589 4,912,711 - - - - - - - - - - 9,572,300 82,294,758 12%
Redevelopment Funds
Redevelopment General 433 404,626 17,720 - - - - - - - - - - 422,346 2,971,846 14%
Certified Technology Park 439 - - - - - - - - - - - - - - NA
2018 TIF Park Bond Capital 452 919,772 - - - - - - - - - - - 919,772 2,315,432 40%
Airport Urban Enterprise Zone 454 - - - - - - - - - - - - - - NA
Airport Urban Enterprise Zone 456 75,761 7,522,545 - - - - - - - - - - 7,598,306 20,104,297 38%
Sub Total 1,400,159 7,540,265 - - - - - - - - - - 8,940,424 25,391,574 35%
Debt Service Funds
SBCDA 2003 Debt Reserve 352 - 516,500 - - - - - - - - - - 516,500 1,033,625 50%
2019 South Shore Double Tracking Res. 315 - - - - - - - - - - - - - 1,040,462 0%
Airport 2003 Debt Reserve 328 - - - - - - - - - - - - - 1,739,495 0%
2020 TIF Library Bond Debt Reserve 353 - - - - - - - - - - - - - - NA
Sub Total - 516,500 - - - - - - - - - - 516,500 3,813,582 14%
Total Redevelopment Funds 6,059,748 12,969,476 - - - - - - - - - - 19,029,224 111,499,915 17%
Total Expenditures 40,634,286 43,019,652 - - - - - - - - - - 83,653,938 624,243,728 13%
Civil City Debt
Capital Leases
182 2019 Vehicle/Equip Lease #1 2019 N/A 2024 Various Biannual 1,472,985 154,576 - 154,576 1,762 156,338 -
201 2020 Dell Computer Equipment Lease 4 2020 N/A 2024 279 Annual 33,000 7,039 - 7,039 504 7,543 -
202 2020 HP Computer Lease 22 2020 N/A 2024 279 Monthly 39,800 4,520 - 4,520 18 4,537 -
203 2020 VLocker Equipment Lease Purchase 2020 N/A 2025 201 Annual 86,961 36,228 - 13,361 765 14,126 22,866
205 2020 Dell Computer Equipment Lease 5 2020 N/A 2024 279 Annual 11,455 2,443 - 2,443 175 2,618 -
206 2020 HP Computer Lease 23 2020 N/A 2024 279 Monthly 29,652 5,159 - 5,159 52 5,211 -
209 2020 Vehicle/Equip Lease #1 2020 N/A 2025 Various Biannual 6,156,108 2,500,869 - 1,243,514 24,318 1,267,832 1,257,355
214 2021 Network Solutions Cisco Infrastructure Lease 2021 N/A 2025 279 Annual 900,000 348,630 - 172,387 7,799 180,186 176,243
216 2021 Dell Computer Equipment Lease 7 2021 N/A 2025 279 Annual 529,046 215,387 - 105,658 8,299 113,957 109,729
217 2021 Dell Computer Equipment Lease 8 2021 N/A 2024 279 Annual 214,222 54,542 - 54,542 2,131 56,672 -
218 2021 Vehicle/Equip Lease #1 2021 N/A 2026 Various Biannual 3,691,270 2,232,823 - 737,099 19,834 756,933 1,495,724
220 2022 IT Networking Equipment Lease 2022 N/A 2026 279 Annual 166,343 96,886 - 31,060 3,803 34,863 65,826
224 2022 Dell Computer Equipment Lease 9 2022 N/A 2025 279 Annual 202,985 101,098 - 48,318 9,337 57,654 52,780
225 2022 Vehicle/Equip Lease 2022 N/A 2027 Various Biannual 8,042,233 5,674,553 - 1,574,254 124,104 1,698,359 4,100,299
226 2022 Dell Computer Equipment Lease 10 2022 N/A 2025 279 Annual 40,567 20,229 - 9,743 1,543 11,286 10,486
228 2023 Dell Computer Equipment Lease 11 2023 N/A 2026 279 Annual 414,528 298,906 - 92,229 23,393 115,622 206,677
229 2023 Dell Computer Equipment Lease 12 2023 N/A 2027 279 Annual 14,136 11,108 - 2,634 394 3,028 8,475
230 2023 Vehicle/Equip Lease 2023 N/A 2028 Various Biannual 6,949,500 6,214,893 - 1,289,575 229,162 1,518,737 4,925,318
234 2024 Vehicle/Equip Lease 2024 N/A 2029 Various Biannual 10,159,750 10,159,750 - 1,092,594 22,253 1,114,847 9,067,156
Total Civil City Capital Lease Debt 39,154,540 28,139,638 - 6,640,704 479,646 7,120,350 21,498,934
2024
Principal
2024
Interest
City of South Bend Fiscal Year 2024
Outstanding Debt
Debt
Sched.Debt Instrument
Year of
Issue
Year of
Refinance
Year of
Maturity
Fund
No.
2024 Total
Debt Payments
Debt at
12/31/24Pmts
Amount
Issued
Debt at
1/1/24
2024
Additions
2024
Principal
2024
Interest
City of South Bend Fiscal Year 2024
Outstanding Debt
Debt
Sched.Debt Instrument
Year of
Issue
Year of
Refinance
Year of
Maturity
Fund
No.
2024 Total
Debt Payments
Debt at
12/31/24Pmts
Amount
Issued
Debt at
1/1/24
2024
Additions
Bonds
69 2009 Water Works Revenue Bonds, Series B 2009 2019 2030 625 Biannual 2,814,257 2,365,000 - 340,000 136,650 476,650 2,025,000
80 2020 Sewage Works Revenue Bonds Refunding 2010 2010 2020 2030 649 Biannual 4,830,000 3,465,000 - 440,000 138,600 578,600 3,025,000
99 2012 Water Works Revenue Bonds 2012 N/A 2033 625 Biannual 8,300,000 4,280,000 - 420,000 146,224 566,224 3,860,000
101 2012 Sewage Works Revenue Bonds 2012 N/A 2032 649 Biannual 25,000,000 12,985,000 - 1,260,000 328,580 1,588,580 11,725,000
105 2013A Sewage Works Refunding Revenue Bonds 2013 N/A 2024 649 Biannual 14,765,000 715,000 - 715,000 13,871 728,871 -
116 2013 Bldg Corp Mortgage Bonds (Fire St #5 & Training Tower) 2013 N/A 2033 755 Biannual 5,580,000 3,450,000 - 280,000 125,630 405,630 3,170,000
133 2014 St. Joseph County PSAP Revenue Bonds 2014 N/A 2034 408 Monthly 2,657,697 1,447,146 - 152,408 46,907 199,314 1,294,738
141 2015 Redev Authority Lease Rental Revenue Bonds (Parks) 2015 N/A 2035 757 Biannual 5,605,000 3,840,000 - 240,000 128,381 368,381 3,600,000
156 2016 Waterworks Refunding Bonds 2016 N/A 2027 625 Biannual 3,300,000 930,000 - 300,000 27,900 327,900 630,000
163 2017 Taxable Econ. Develop. Revenue Bonds (Eddy St Phase II) 2017 N/A 2037 760 Biannual 25,000,000 22,825,000 - 1,131,375 1,941,375 3,072,750 21,693,625
165 2017 Park District Bonds, Series 2017A-K 2017 N/A 2033 312 Biannual 14,075,000 9,650,000 - 890,000 287,990 1,177,990 8,760,000
168 2018 General Obligation Bonds (Fire St #9 & Training Classroom) 2018 N/A 2038 287 Biannual 5,045,000 3,975,000 - 220,000 121,331 341,331 3,755,000
175 2018 Econ. Develop. Revenue Bonds (Potawatomi Zoo) 2018 N/A 2034 408 Biannual 3,440,000 2,610,000 - 200,000 126,500 326,500 2,410,000
215 2021 Bldg Corp LIT Lease Rental Revenue Bonds (Infrastructure) 2021 N/A 2036 755 Biannual 7,610,000 6,725,000 - 405,000 235,300 640,300 6,320,000
219 2021 Sewage Works Refunding Revenue Bonds (Ref 2009 & 2011) 2021 N/A 2031 649 Biannual 12,450,000 9,995,000 - 1,200,000 337,350 1,537,350 8,795,000
221 2022 Morris Performing Arts Center Revenue Bonds 2022 N/A 2046 752 Biannual 6,395,000 6,100,000 - 190,000 183,125 373,125 5,910,000
222 2022 Economic Develop Revenue Bonds (Zoo Project) 2022 N/A 2042 755 Biannual 5,715,000 5,380,000 - 225,000 152,263 377,263 5,155,000
227 2023 RDA Lease Rental Revenue Bonds Series A (River West & River East)2023 N/A 2041 752 Biannual 29,155,000 29,155,000 - - 417,078 417,078 29,155,000
235 2023 Sewage Works Revenue Bonds 2023 N/A 2044 649 Biannual 32,150,000 32,150,000 - - 882,571 882,571 32,150,000
238 2024 Water Works Revenue Bonds (SRF) 2024 N/A 2045 625 Biannual 10,713,000 10,713,000 - - 5,318 5,318 10,713,000
Total Civil City Bond Debt 252,039,953 181,640,146 - 11,503,783 5,960,644 17,464,426 170,136,363
Interfund Loan -
84 2013 Major Moves-Triangle Development Interfund Loan 2011 2013 2029 436 Biannual 1,558,050 624,884 - 108,936 11,956 120,892 515,948
85 2013 Major Moves-Eddy Street Commons Interfund Loan 2011 2013 2026 436 Biannual 3,942,529 17,193 - 17,193 430 17,622 0
Total Civil City Interfund Loan Debt 5,500,579 642,076 - 126,129 12,386 138,514 515,948
Loan Payable -
68 2009 Water Works Improvements - State Revolving Fund 2009 N/A 2030 625 Biannual 427,400 170,517 - 26,373 5,746 32,119 144,144
139 2015 Century Center Energy QECB Conservation Bond 2015 N/A 2031 672 Biannual 4,167,897 2,781,851 - 309,315 84,073 393,388 2,472,536
Total Civil City Loan Payable Debt 4,595,297 2,952,368 - 335,688 89,819 425,507 2,616,680
Total Civil City Debt 301,290,369 213,374,228 - 18,606,303 6,542,494 25,148,797 194,767,925
Redevelopment Commission Debt
Capital Leases
13 2006 Main/Colfax Garage - Transpo Lease (Parking Garage Purch) 2006 N/A 2025 324 Biannual 2,510,278 376,197 - 183,455 16,545 200,000 192,742
Total Redevelopment Capital Lease Debt 2,510,278 376,197 - 183,455 16,545 200,000 192,742
Revenue Bonds -
5 2011A Indiana Bond Bank Special Program Bonds (TIF A) 2003 2011 2024 324 Biannual 19,795,000 1,845,000 - 1,845,000 72,280 1,917,280 -
6 2011A Indiana Bond Bank Special Program Bonds (TIF B) 2003 2011 2024 324 Biannual 14,420,000 1,050,000 - 1,050,000 41,080 1,091,080 -
54 2015 Redev Authority Lease Rental Revenue Refunding Bonds 2008 2015 2027 436 Biannual 36,000,000 19,765,000 - 1,750,000 718,231 2,468,231 18,015,000
62 2013 Redev Authority Lease Rental Revenue Refunding Bonds 2008 2013 2026 324 Biannual 4,655,000 895,000 - 360,000 24,975 384,975 535,000
135 2015 Redev Authority Lease Rental Revenue Bonds (Smart Streets) 2015 N/A 2037 324 Biannual 25,000,000 18,450,000 - 1,120,000 584,744 1,704,744 17,330,000
169 2018 Redev District Revenue Bonds (Parks Improvements) 2018 N/A 2033 324 Biannual 11,995,000 8,140,000 - 755,000 238,575 993,575 7,385,000
200 2019 South Shore Double Tracking Bonds 2019 N/A 2030 324 Biannual 7,985,000 5,660,000 - 760,000 273,625 1,033,625 4,900,000
210 2020 TIF Library Bonds 2020 N/A 2037 324 Biannual 4,225,000 3,705,000 - 230,000 92,590 322,590 3,475,000
239 2024A RDA Lease Rental Revenue Bonds (Four Winds Field) 2024 N/A 2044 458 Biannual 44,860,000 44,860,000 - - - - 44,860,000
240 2024B RDA Taxable Lease Rental Revenue Bonds (Madison Lifestyle District)2024 N/A 2041 457 Biannual 24,480,000 24,480,000 - - - - 24,480,000
Total Redevelopment Revenue Bond Debt 193,415,000 128,850,000 - 7,870,000 2,046,100 9,916,100 120,980,000
Total Redevelopment Commission Debt 195,925,278 129,226,197 - 8,053,455 2,062,645 10,116,100 121,172,742
Total Debt 497,215,647 342,600,425 - 26,659,758 8,605,139 35,264,897 315,940,667
City of South Bend
Staffing Headcount
Full-Time Staffing Summary by Fund Budget Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
101 - General Fund
Mayor's Office 8 7 7
Community Police Review Board 1 1 1
City Clerk 4 4 5
Common Council 10 9 9
Controller's Office 19 21 21
Human Resources 7 7 7
Diversity & Inclusion 3 3 3
Human Rights 4 5 4
Legal Department 14 12 12
Engineering 29 24 24
Police Department 294 290 291
Police Crime Lab 7 8 8
Fire Department 256 238 247
EMS 4 4 4
660 633 643 - - - - - - - - - -
201 - Parks & Recreation
Community Inititatives 8 9 10
Administration 5 4 4
Maintenance 44 44 43
Golf Courses 9 8 8
Recreational Experiences 11 11 11
Community Programming 16 9 6
Development & Promotions 10 7 8
103 92 90 - - - - - - - - - -
202 - Motor Vehicle Highway
Streets/Traffic & Lighting 55 58 56
Curb & Sidewalk 8 7 7
63 65 63 - - - - - - - - - -
211 - Dept of Community Investment Operating
Community Investment 26 30 30
Historic Preservation 2 1 1
Office of Sustainability 2 1 1
30 32 32 - - - - - - - - - -
February 29, 2024
City of South Bend
Staffing Headcount
February 29, 2024
Full-Time Staffing Summary by Fund Budget Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
221 - Rental Units Regulation
Rental Unit Inspection - 1 1 -
222 - Central Services
Equipment Services 31 26 28
Radio Shop 3 2 1
Building Maintenance 4 4 4
Facilities Management 1 1 1
39 33 34 - -
230 - Code Enforcement Fund
Neighborhood Services 38 18 17
Animal Resource Center 9 9 10
47 27 27 - - - - - - - - - -
258 - Human Rights Federal Grants
EEOC 1 1 1
HUD 1 1 1
2 2 2 - - - - - - - - - -
279 - IT / Innovation / 311 Call Center
311 Call Center 15 15 15
Innovation & Technology 32 29 30
47 44 45 - - - - - - - - - -
600 - Consolidated Building Fund
Building Department 16 15 16
602 - Morris Performing Arts Center Operations
Morris Performing Arts Center 8 7 7
610 - Solid Waste
Solid Waste 25 25 25
620 - Water Works
Water Works 69 60 60
640 - Sewer Insurance
Sewer Repair 2 2 2
City of South Bend
Staffing Headcount
February 29, 2024
Full-Time Staffing Summary by Fund Budget Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
641 - Sewage Works
Sewers 35 30 31
Concrete Crew 4 5 5
Wastewater 45 42 41
Organic Resources 7 6 7
91 83 84 - - - - - - - - - -
670 - Century Center
Century Center 7 4 4
Total Full-Time Employees by Fund 1,209 1,125 1,135 - - - - - - - - - -
Full-Time Staffing Summary by Activity Budget Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
General Government
Mayor's Office 8 7 7 - - - - - - - - - -
City Clerk 4 4 5 - - - - - - - - - -
Community Police Review Board 1 1 1 - - - - - - - - - -
Common Council 10 9 9 - - - - - - - - - -
Controller's Office 19 21 21 - - - - - - - - - -
Human Resources 7 7 7 - - - - - - - - - -
Diversity & Inclusion 3 3 3 - - - - - - - - - -
Human Rights 6 7 6 - - - - - - - - - -
Legal Department 14 12 12 - - - - - - - - - -
Central Services 39 33 34 - - - - - - - - - -
111 104 105 - - - - - - - - - -
Public Works
Engineering 29 24 24 - - - - - - - - - -
Streets & Sewers 104 102 101 - - - - - - - - - -
Solid Waste 25 25 25 - - - - - - - - - -
Wastewater 45 42 41 - - - - - - - - - -
Organic Resources 7 6 7 - - - - - - - - - -
Water Works 69 60 60 - - - - - - - - - -
279 259 258 - - - - - - - - - -
City of South Bend
Staffing Headcount
February 29, 2024
Full-Time Staffing Summary by Activity Budget Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Public Safety
Police - Sworn Officers 232 244 244
Police - Civilians 43 47 48
Police - Police Recruit 8 7 7
Fire/EMS - Sworn Firefighters 256 236 235
Fire/EMS - Civilians 7 6 7
Fire/EMS - Fire Recruits 3 - 9
549 540 550 - - - - - - - - - -
Venues, Parks & Arts
Parks & Recreation 103 92 90 - - - - - - - - - -
Morris Performing Arts Center 8 7 7 - - - - - - - - - -
Century Center 7 4 4 - - - - - - - - - -
118 103 101 - - - - - - - - - -
Department of Community Investment
Community Investment 28 31 31 - - - - - - - - - -
Office of Sustainability 2 1 1 - - - - - - - - - -
Neighborhood Services 38 19 18 - - - - - - - - - -
Animal Resource Center 9 9 10 - - - - - - - - - -
Building Department 16 15 16 - - - - - - - - - -
93 75 76 - - - - - - - - - -
Department of Innovation & Technology 47 44 45 - - - - - - - - - -
Total Full-Time Employees by Activity 1,197 1,125 1,135 - - - - - - - - - -
City of South Bend
Staffing Headcount
February 29, 2024
Part-Time Staffing Summary by Fund Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
101 - General Fund
Human Rights - -
Engineering 1 1
Police Department 22 24
Police Crime Lab - -
Fire Department 1 1
24 26 - - - - - - - - - -
201 - Parks & Recreation
Commmunity Initiatives 6 6
Maintenance 15 14
Golf Courses 56 55
Recreational Experiences 25 25
Community Programming 8 7
Development & Promotions - -
110 107 - - - - - - - - - -
202 - Motor Vehicle Highway
Streets/Traffic & Lighting 7 7
Curb & Sidewalk 1 1
8 8 - - - - - - - - - -
222 - Central Services
Equipment Services 1 1
230 - Code Enforcement Fund
Animal Resource Center 1 2
1 2 - - - - - - - - - -
602 - Morris Performing Arts Center Operations
Morris Performing Arts Center 23 23
641 - Sewage Works
Sewers 4 3
Organic Resources
4 3 - - - - - - - -
670 - Century Center
Century Center 2 2
Total Part-Time Employees by Fund 173 172 - - - - - - - - - -
Paid Temporary, Seasonal, and Intern Staffing Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
101 - General Fund
Mayor's Office 6 6 -
6 6 - - - - - - - - - -
201 - Parks & Recreation
City of South Bend
Staffing Headcount
February 29, 2024
Administration
Maintenance 16 16
Golf Courses 5 5
Recreational Experiences 95 95
Development & Promotions - -
116 116 - - - - - - - - - -
202 - Motor Vehicle Highway
Streets/Traffic & Lighting 1 1 -
Curb & Sidewalk - - -
1 1 - - - - - - - - - -
230 - Code Enforcement Fund
Neighborhood Services - - - - - - - - - - - -
Animal Resource Center - - - - - - - - - - - -
- - - - - - - - - - - -
279 - IT / Innovation / 311 Call Center
311 Call Center - - - -
Innovation & Technology 1 1 - -
1 1 - - - - - - - - - -
641 - Sewage Works
Sewers 1 1 - -
655 - Project ReLeaf
Leaf Pickup 1 1 - -
Total Paid Temporary, Seasonal, and Intern Staff 126 126 - - - - - - - - - -
Staffing Summary
Budget
Full-
Time Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Full Time Staff 1,209 1,125 1,135 - - - - - - - - - -
Part Time Staff 173 172 - - - - - - - - - -
Temporary / Seasonal 126 126 - - - - - - - - - -
City Total 1,209 1,424 1,433 - - - - - - - - - -
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name General Fund Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 43,659,873 45,635,698 48,636,181 51,388,740 51,388,740 - - 51,388,740 0%
Local Income Taxes - - 14,189,571 12,554,287 12,554,287 2,092,381 2,092,381 10,461,906 17%
Intergov./ Shared Revenues 4,251,806 2,186,019 4,032,969 4,198,874 4,198,874 109,770 109,770 4,089,104 3%
Intergov./ Grants 1,482,045 - - - - - - - -
Licenses & Permits 258,054 319,288 219,971 295,607 295,607 76,752 76,752 218,854 26%
Charges for Services 5,286,199 4,838,529 5,630,413 4,350,903 4,350,903 978,268 978,268 3,372,635 22%
Fines, Forfeitures, and Fees 6,235 4,911 9,045 8,000 8,000 2,000 2,000 6,000 25%
Interest Earnings 290,597 576,610 2,940,561 1,045,310 1,075,188 544,045 544,045 531,143 51%
Donations 1,769,377 1,358,100 1,726,912 1,392,500 1,392,500 - - 1,392,500 0%
Other Income 1,238,059 1,352,986 1,400,222 1,296,920 1,296,920 295,751 295,751 1,001,169 23%
Interfund Allocation Reimb 9,896,054 10,544,420 10,597,451 11,206,787 11,206,787 1,867,798 1,867,798 9,338,989 17%
Interfund Transfers In 2,727,079 - 13,865,143 575,000 3,878,608 95,833 95,833 3,782,775 2%
PILOT 6,154,321 6,079,325 6,095,594 6,024,186 6,024,186 3,012,093 3,012,093 3,012,093 50%
Debt Proceedings - - 1,827,500 2,176,000 2,176,000 - - 2,176,000 0%
Total Revenue 77,019,698 72,895,886 111,171,535 96,513,114 99,846,600 9,074,691 - 9,074,691 90,771,908 9%
Expenditures by Subdivisions
Mayor 990,182 993,329 970,586 1,193,725 1,197,172 172,128 1,972 174,100 1,023,071 15%
Community Initiatives 857,425 1,310,361 - - - - - - - -
Community Police Review Office 27,206 - 58,461 100,155 100,155 15,277 - 15,277 84,879 15%
City Clerk 633,713 588,712 550,428 672,304 595,854 85,390 1,095 86,484 509,370 15%
Common Council 593,820 552,768 650,968 853,936 943,451 78,719 12,083 90,802 852,649 10%
Youth Council - - - - - 1,672 - 1,672 (1,672) -
General City 4,991,093 8,855,411 11,084,877 1,391,125 22,297,344 1,387,412 8,212,085 9,599,497 12,697,847 43%
Finance 2,111,012 2,138,651 2,594,482 3,264,508 3,297,523 389,372 130,083 519,455 2,778,068 16%
Human Resources 651,325 623,506 774,441 940,483 940,763 139,178 - 139,178 801,585 15%
Diversity & Inclusion 546,687 431,572 402,397 657,817 752,583 74,006 98,509 172,515 580,068 23%
Human Rights General 295,679 392,895 325,254 478,419 596,497 52,094 32,406 84,500 511,997 14%
Legal Dept 1,399,494 1,474,439 1,581,443 2,004,061 2,010,262 272,837 26,850 299,688 1,710,575 15%
Police General 30,031,479 9,084,025 40,788,073 44,773,849 45,832,381 7,013,292 528,941 7,542,233 38,290,148 16%
Crime Lab 628,676 206,430 837,475 959,994 960,068 138,662 1,024 139,686 820,381 15%
Police Other - - - - - - 380,036 380,036 (380,036) -
Fire General 26,373,821 5,925,780 29,914,764 30,953,806 31,358,362 4,647,586 346,696 4,994,282 26,364,081 16%
EMS 710,778 399,302 636,009 740,928 773,498 120,647 38,690 159,337 614,161 21%
Fire Training Center 32,253 54,797 71,739 64,500 80,725 25,342 5,672 31,013 49,712 38%
Park Administration - - 5,372,562 6,000,000 6,000,000 1,000,000 - 1,000,000 5,000,000 17%
Park Maintenance - - 1,891,368 1,839,028 2,226,831 200,127 2,026,193 2,226,320 510 100%
Repairs & Maint-Other R&M - - 48,047 - - - 7,967 7,967 (7,967) -
Morris PAC 1,106,303 643,333 184 - - - - - - -
Palais Royale 149,547 177,972 182,642 234,841 235,098 33,448 1,111 34,559 200,539 15%
Engineering 3,123,492 2,951,893 3,409,584 4,615,002 4,769,887 531,528 214,744 746,272 4,023,614 16%
Sustainability 90,441 67,037 - - 33,000 - 33,000 33,000 - 100%
AmeriCorps 222,663 - - - - - - - - -
Streets & Sewers - - 3,437,500 5,500,000 5,500,000 916,667 - 916,667 4,583,333 17%
Curb & Sidewalk - - 1,375,000 1,600,000 1,600,000 266,667 - 266,667 1,333,333 17%
Street Signals and Lighting - - 1,314,108 - - 232,192 - 232,192 (232,192) -
Total Expenditures 75,567,091 36,872,214 108,272,391 108,838,482 132,101,452 17,794,243 12,099,157 29,893,400 102,208,054 23%
Expenditures by Type
Personnel
Salaries & Wages 39,390,302 6,584,533 43,911,983 46,099,167 46,186,068 6,502,962 - 6,502,962 39,683,107 14%
Fringe Benefits 13,920,158 2,090,570 17,059,311 21,423,742 21,456,920 2,931,434 525 2,931,959 18,524,961 14%
Other Personnel Costs - - - - - - - - - -
Total Personnel 53,310,460 8,675,103 60,971,294 67,522,909 67,642,989 9,434,396 525 9,434,921 58,208,068 14%
Supplies 2,033,958 2,675,311 2,708,357 3,052,084 3,416,803 716,641 474,877 1,191,518 2,225,285 35%
Services & Charges
Professional Services 1,811,607 1,907,475 2,667,148 2,357,135 2,703,454 256,018 619,208 875,226 1,828,228 32%
Printing & Advertising 188,451 342,749 205,374 329,453 350,726 29,323 11,382 40,705 310,021 12%
Utilities 654,363 591,906 1,895,474 646,538 646,538 334,380 - 334,380 312,158 52%
Repairs & Maintenance 1,951,940 3,151,159 3,632,029 2,898,719 3,006,923 795,142 125,497 920,640 2,086,283 31%
Education & Training 186,351 236,499 220,293 342,000 316,982 43,558 35,496 79,054 237,928 25%
Travel 25,843 53,075 102,967 108,000 157,421 17,853 45,663 63,516 93,905 40%
Grants & Subsidies 390,075 5,450,680 7,117,846 746,451 14,220,241 322,895 4,415,546 4,738,441 9,481,800 33%
Other Services & Charges 597,714 2,172,804 4,264,407 2,947,035 7,074,497 806,126 3,507,147 4,313,273 2,761,224 61%
Debt Service Principal 145,798 - 193,179 1,782,196 1,782,196 - - - 1,782,196 0%
Debt Service Interest & Fees 1,667 - 6,512 146,498 146,498 - - - 146,498 0%
Total Services & Charges 5,953,810 13,906,347 20,305,229 12,304,025 30,405,476 2,605,295 8,759,940 11,365,234 19,040,241 37%
Operating Expenditures 61,298,229 25,256,761 83,984,880 82,879,018 101,465,267 12,756,332 9,235,341 21,991,673 79,473,594 22%
Capital - 181,068 3,571,224 2,226,000 6,706,062 1,039,782 2,483,780 3,523,562 3,182,500 53%
Bad Debt 649 930 1,016 300 300 664 - 664 (364) 221%
Interfund
Interfund Allocations 9,320,120 9,701,661 9,662,209 10,633,164 10,829,618 1,814,132 - 1,814,132 9,015,485 17%
Interfund Transfers Out 4,948,093 1,731,794 11,053,062 13,100,000 13,100,206 2,183,333 - 2,183,333 10,916,872 17%
Total Interfund 14,268,213 11,433,455 20,715,271 23,733,164 23,929,823 3,997,466 - 3,997,466 19,932,357 17%
Total Expenditures 75,567,091 36,872,214 108,272,391 108,838,482 132,101,452 17,794,243 11,719,121 29,513,364 102,588,087 22%
Net Surplus / (Deficit) 1,452,607 36,023,672 2,899,144 (12,325,368) (32,254,853) (8,719,551) (20,438,672)
Beginning Cash Balance 54,208,073 53,544,921 54,208,073 54,208,073
Cash Adjustments (2,115,759) (35,360,520) 34,304,235 -
Ending Cash Balance 53,544,921 54,208,073 91,411,452 21,953,221 85,514,366
Cash Reserves Target 37,783,545 18,436,107 54,136,195 66,050,726
Fund Purpose:
The General Fund is the primary operating fund for City operations including general government, public safety, certain culture & recreation expenses, and certain debt service obligations. The main
source of revenue is property taxes. Secondary sources of revenue include auto and commercial vehicle excise tax, business licensing revenue, EMS billing revenue, and payment in lieu of taxes
(PILOT) from the Water and Wastewater Utility.
Cash Reserves Target
50% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name General Fund Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Dept/Division
Mayor 990,182 993,329 970,586 1,193,725 1,197,172 172,128 1,972 174,100 1,023,071 15%
Community Initiatives 857,425 1,310,361 - - - - - - - -
Community Police Review Office 27,206 - 58,461 100,155 100,155 15,277 - 15,277 84,879 15%
City Clerk 633,713 588,712 550,428 672,304 595,854 85,390 1,095 86,484 509,370 15%
Common Council 593,820 552,768 650,968 853,936 943,451 78,719 12,083 90,802 852,649 10%
Youth Council - - - - - 1,672 - 1,672 (1,672) -
General City 4,991,093 3,907,318 2,272,466 1,391,125 1,591,125 731,740 2,583,579 3,315,319 (1,724,194) 208%
American Rescue Plan - 4,948,093 8,812,411 - 20,706,219 655,672 5,628,506 6,284,178 14,422,041 30%
Finance 2,111,012 2,138,651 2,594,482 3,264,508 3,297,523 389,372 130,083 519,455 2,778,068 16%
Human Resources 651,325 623,506 774,441 940,483 940,763 139,178 - 139,178 801,585 15%
Diversity & Inclusion 546,687 431,572 402,397 657,817 752,583 74,006 98,509 172,515 580,068 23%
Human Rights General 295,679 392,895 325,254 478,419 596,497 52,094 32,406 84,500 511,997 14%
Legal Dept 1,399,494 1,474,439 1,581,443 2,004,061 2,010,262 272,837 26,850 299,688 1,710,575 15%
Police General 30,031,479 9,084,025 40,788,073 44,773,849 45,832,381 7,013,292 528,941 7,542,233 38,290,148 16%
Crime Lab 628,676 206,430 837,475 959,994 960,068 138,662 1,024 139,686 820,381 15%
Police Other - - - - - - 380,036 380,036 (380,036) -
Fire General 26,373,821 5,925,780 29,914,764 30,953,806 31,358,362 4,647,586 346,696 4,994,282 26,364,081 16%
EMS 710,778 399,302 636,009 740,928 773,498 120,647 38,690 159,337 614,161 21%
Fire Training Center 32,253 54,797 71,739 64,500 80,725 25,342 5,672 31,013 49,712 38%
Park Administration - - 5,372,562 6,000,000 6,000,000 1,000,000 - 1,000,000 5,000,000 17%
Park Maintenance - - 1,891,368 1,839,028 2,226,831 200,127 2,026,193 2,226,320 510 100%
Repairs & Maint-Other R&M - - 48,047 - - - 7,967 7,967 (7,967) -
Morris PAC 1,106,303 643,333 184 - - - - - - -
Palais Royale 149,547 177,972 182,642 234,841 235,098 33,448 1,111 34,559 200,539 15%
Engineering 3,123,492 2,951,893 3,409,584 4,615,002 4,769,887 531,528 214,744 746,272 4,023,614 16%
Sustainability 90,441 67,037 - - 33,000 - 33,000 33,000 - 100%
AmeriCorps 222,663 - - - - - - - - -
Streets & Sewers - - 3,437,500 5,500,000 5,500,000 916,667 - 916,667 4,583,333 17%
Curb & Sidewalk - - 1,375,000 1,600,000 1,600,000 266,667 - 266,667 1,333,333 17%
Street Signals and Lighting - - 1,314,108 - - 232,192 - 232,192 (232,192) -
- - - - - - - - - -
Total Expenditures 75,567,091 36,872,214 108,272,391 108,838,482 132,101,452 17,794,243 12,099,157 29,893,400 102,208,054 23%
NOTE: For more detail, see department and division summary pages that follow.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Department Name Mayor's Office Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 577,992 605,133 565,832 683,897 683,897 95,540 - 95,540 588,357 14%
Fringe Benefits 205,069 203,482 187,410 258,254 258,254 30,589 - 30,589 227,665 12%
Total Personnel 783,061 808,615 753,241 942,151 942,151 126,130 - 126,130 816,022 13%
Supplies 3,888 2,706 3,655 5,500 5,589 653 62 715 4,874 13%
Services & Charges
Professional Services - - 6,946 7,000 7,000 242 - 242 6,758 3%
Printing & Advertising 43,385 36,431 42,991 46,500 49,773 13,951 1,826 15,777 33,996 32%
Repairs & Maintenance 650 33 - 300 300 - - - 300 0%
Education & Training 171 25 1,477 1,000 1,084 250 84 334 750 31%
Travel - 474 1,706 5,000 5,000 - - - 5,000 0%
Other Services & Charges 1,110 9,304 1,522 1,700 1,700 - - - 1,700 0%
Total Services & Charges 45,316 46,268 54,642 61,500 64,857 14,443 1,910 16,353 48,504 25%
Operating Expenditures 832,264 857,588 811,538 1,009,151 1,012,598 141,227 1,972 143,198 869,400 14%
Interfund Allocations 157,918 135,741 159,047 184,574 184,574 30,902 - 30,902 153,672 17%
Total Expenditures 990,182 993,329 970,586 1,193,725 1,197,172 172,128 1,972 174,100 1,023,072 15%
Department Purpose:
Explanation of Revenue Sources:
Leading the community to become a model city through formulating policy, directing operations, and responding to customer concerns. The Mayor is the elected chief executive officer of the city.
This department is funded by the Admin Cost Allocation - an interfund allocation where the budgeted costs of the administrative departments in the General Fund (#101) are charged to other City
funds. The purpose of the allocation is to recover management oversight costs supported by General Fund expenditures.
Personnel - The personnel budget for the Mayor's Office includes wages and benefits for the Mayor and seven (7) full-time staff members, along with a small budget for interns. | Supplies - The
supplies budget includes office supplies and promotional supplies. | Services - Professional services include outside legal services. The Professional Services budget was much higher in 2020 due to a
one-time services contract ($180k) with a law enforcement consulting firm. 21CP Solutions was brought in to evaluate the South Bend Police Department and provide suggestions for policy
improvements.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Community Initiatives Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 218,129 289,438 - - - - - - - -
Fringe Benefits 91,386 123,535 - - - - - - - -
Total Personnel 309,515 412,973 - - - - - - - -
Supplies - - - - - - - - - -
Services & Charges
Professional Services 210,500 351,000 - - - - - - - -
Printing & Advertising 1,410 9,331 - - - - - - - -
Education & Training - 38,737 - - - - - - - -
Travel - 1,775 - - - - - - - -
Grant & Subsidies 336,000 461,250 - - - - - - - -
Other Services & Charges - 143 - - - - - - - -
Total Services & Charges 547,910 862,236 - - - - - - - -
Operating Expenditures 857,425 1,275,209 - - - - - - - -
Interfund Allocations - 35,152 - - - - - - - -
Total Expenditures 857,425 1,310,361 - - - - - - - -
Division Purpose:
Explanation of Revenue Sources:
Personnel - The personnel budget includes the wages and benefits for six (6) full-time employees. In 2020, two new positions were added: GVI (Group Violence Intervention) Program Manager and
Director of Community Initiatives. In 2021, two full-time positions will be transferred from the Recreation Division of the Department of Venues, Parks & Arts (Parks & Recreation Fund #201) to
this division and the positions will be retitled Violence Prevention Coordinator II. In 2022, two full-time positions are being added: one Administrative Assistant II and an additional Violence
Prevention Coordinator. Also, GVI is being renamed Office of Violence Prevention (OVP). | Services - Professional Services include $250,000 for S.A.V.E. (Stand Against Violence Everyday)
through Goodwill, and $23,000 for the National Network for Safe Communities at John Jay College of Criminal Justice provides strategic guidance, technical assistance, and other support for the
City’s efforts to reduce gun violence. Grants & Subsidies includes $350,000 for community programs and partnerships to be determined. In 2022, $25,000 will be added to Printing & Advertising for
promotional activities such as community outreach and grantee events, and $12,500 will be added for training Community Initiatives staff.
This Community Initiatives Division was established within the Mayor's Office in 2020 to centralize the Administration's efforts to respond to the most pressing issues facing the community. This
division will focus on administering grants for violence-reduction activities as well as other areas of public safety and wellness.
This division is funded by the Admin Cost Allocation - an interfund allocation where the budgeted costs of the administrative departments in the General Fund (#101) are charged to other City funds.
The purpose of the allocation is to recover management oversight costs supported by General Fund expenditures.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Community Police Review Office Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 21,250 - 42,244 70,683 70,683 10,795 - 10,795 59,888 15%
Fringe Benefits 5,956 - 16,101 29,472 29,472 4,446 - 4,446 25,026 15%
Total Personnel 27,206 - 58,345 100,155 100,155 15,241 - 15,241 84,914 15%
Supplies - - - - - - - - - -
Services & Charges
Professional Services - - - - - - - - - -
Repairs & Maintenance - - - - - - - - - -
Machinery & Equipment - - 116 - - 36 - 36 (36) -
Total Services & Charges - - 116 - - 36 - 36 (36) -
Total Expenditures 27,206 - 58,461 100,155 100,155 15,277 - 15,277 84,878 15%
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The Community Police Review Board was established in 2020 (ordinance 10721-20) to provide additional perspectives to alleged police misconduct. The Community Police Review Board is
composed of nine (9) members appointed by the Common Council. No sworn law enforcement officer is eligible to serve as a member of the Review Board.
The purposes of the Community Police Review Board are to encourage aggrieved persons to take part in the process, to provide an additional just and efficient means to safely, fairly, impartially and
timely conduct investigations of alleged police misconduct, to reach an independent determination of whether the allegations are well founded applying a preponderance of the evidence standard; to
identify and address patterns of alleged police misconduct; and, based on information obtained through such investigations, to make police recommendations to improve the South Bend Police
Department and reduce incidents of alleged police misconduct.
This division is funded by property tax revenue collected in the General Fund.
This divisions budget supports the salary and benefits for the Director of the Community Police Review Office. The duties of the Director shall include: managing the Review Office, including its
staff; enhancing communications and good will between the police and residents; maintaining records, confidential or otherwise, of all complaints, proceedings thereon, and dispostions thereof. The
Director shall make quarterly reports to the Common Council and Mayor concerning matters of conduct and recurring issues that are processed by the Review Office. The Director shall also provide
periodic reports and an annual report.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Department Name City Clerk Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 288,911 283,741 274,552 330,520 278,332 44,190 - 44,190 234,142 16%
Fringe Benefits 113,731 89,875 78,663 144,751 118,848 14,198 - 14,198 104,650 12%
Total Personnel 402,642 373,617 353,215 475,271 397,180 58,387 - 58,387 338,792 15%
Supplies 8,089 4,316 9,689 9,500 9,500 1,905 - 1,905 7,595 20%
Services & Charges
Professional Services 15,066 18,448 3,763 30,000 30,000 2,556 - 2,556 27,444 9%
Printing & Advertising 23,705 20,366 39,458 28,500 30,141 3,672 1,095 4,767 25,374 16%
Repairs & Maintenance 6,400 8,778 1,746 5,000 5,000 375 - 375 4,625 8%
Education & Training 14,250 2,296 3,547 7,500 7,500 - - - 7,500 0%
Travel - - 4,565 7,000 7,000 - - - 7,000 0%
Other Services & Charges 7,635 5,916 8,293 7,500 7,500 1,415 - 1,415 6,085 19%
Bad Debt Expense - 100 (100) - - - - - - -
Total Services & Charges 67,056 55,903 61,271 85,500 87,141 8,018 1,095 9,113 78,028 10%
Operating Expenditures 477,787 433,836 424,175 570,271 493,822 68,311 1,095 69,406 424,415 14%
Interfund Allocations 155,926 154,876 126,253 102,033 102,033 17,078 - 17,078 84,954 17%
Total Expenditures 633,713 588,712 550,428 672,304 595,854 85,390 1,095 86,484 509,369 15%
Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
We ensure the integrity and accuracy of City records, and liaise between the Common Council, City Administration and South Bend residents fostering relationships and common ground.
We accomplish our mission by:
- Serving as a responsible steward of information and historical artifacts
- Empowering the community to engage
- Supporting open and transparent government
- Striving for the highest degree of excellence in customer service
Personnel - The personnel budget for the Clerk's Office includes wages and benefits for the City Clerk and four (4) full-time staff members, along with a small budget for interns. | Supplies - The
supplies budget includes office supplies and law books. | Services - Professional services include outside legal services. Printing and advertising includes $20,000 for required legal notices in the
newspaper to advertise public meetings and $6,500 to renew brochures, letterhead, resident information.
The Clerk's Office is funded by the Admin Cost Allocation - an interfund allocation where the budgeted costs of the administrative departments in the General Fund (#101) are charged to other City
funds. The purpose of the allocation is to recover management oversight costs supported by General Fund expenditures.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Department Name Common Council Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 182,138 203,103 205,665 304,597 362,597 29,772 - 29,772 332,825 8%
Fringe Benefits 95,359 106,163 115,052 214,179 241,203 14,221 - 14,221 226,982 6%
Total Personnel 277,497 309,265 320,717 518,776 603,800 43,993 - 43,993 559,807 7%
Supplies 1,894 2,496 1,893 2,500 2,590 1,497 343 1,839 751 71%
Services & Charges
Professional Services 193,211 166,913 230,653 207,000 211,000 17,852 8,415 26,267 184,733 12%
Printing & Advertising 35,048 9,466 15,405 25,000 25,400 790 3,219 4,009 21,391 16%
Repairs & Maintenance 24,584 7,340 7,240 5,000 5,000 624 - 624 4,376 12%
Education & Training 599 1,557 2,961 7,500 7,500 618 - 618 6,882 8%
Travel 1,334 4,618 15,508 15,000 15,000 913 106 1,019 13,981 7%
Other Services & Charges 4,714 7,583 5,392 10,300 10,300 1,851 - 1,851 8,449 18%
Total Services & Charges 259,491 197,477 277,159 269,800 274,200 22,647 11,740 34,387 239,812 13%
Operating Expenditures 538,882 509,239 599,769 791,076 880,590 68,137 12,083 80,220 800,370 9%
Interfund Allocations 54,938 43,529 51,198 62,861 62,861 10,582 - 10,582 52,279 17%
Total Expenditures 593,820 552,768 650,968 853,936 943,451 78,719 12,083 90,802 852,649 10%
Purpose:
Explanation of Revenue Sources:
The Common Council is the fiscal body of the City, which exists to make certain that our City Government is always responsive to the needs of our residents and that the betterment of South Bend is
always our highest priority.
Personnel - The Common Council's budget includes the wages and benefits for the nine (9) Council Members along with some costs associated with public meetings. In 2022, the annual council
member's salary will be $20,762. There is also a budget of $44,000 for interns. In 2022, $30,000 will be added to the personnel budget for a part-time Legislative Assistant. | Supplies - There is a small
budget for office supplies. | Services - Professional services include $200k for legal services for the Council.
The Common Council is funded by the Admin Cost Allocation - an interfund allocation where the budgeted costs of the administrative departments in the General Fund (#101) are charged to other
City funds. The purpose of the allocation is to recover management oversight costs supported by General Fund expenditures.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Controller's Office Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 1,321,367 1,238,276 1,449,697 1,697,019 1,697,019 235,968 - 235,968 1,461,051 14%
Fringe Benefits 464,963 430,563 499,994 696,473 696,473 88,740 - 88,740 607,733 13%
Total Personnel 1,786,330 1,668,839 1,949,691 2,393,492 2,393,492 324,708 - 324,708 2,068,784 14%
Supplies 8,804 8,278 11,893 17,052 17,059 1,117 7 1,124 15,935 7%
Services & Charges
Professional Services 92,490 257,437 345,764 490,000 522,380 4,411 127,883 132,293 390,087 25%
Printing & Advertising 4,914 2,184 2,860 3,000 3,000 423 577 1,000 2,000 33%
Repairs & Maintenance 225 202 7,857 2,500 2,780 514 - 514 2,266 18%
Education & Training 4,235 1,504 3,583 15,000 15,349 754 169 922 14,426 6%
Travel 1,300 1,784 1,019 9,000 9,000 - - - 9,000 0%
Other Services & Charges 19,228 18,030 15,313 11,585 11,585 3,149 1,448 4,597 6,988 40%
Total Services & Charges 122,391 281,141 376,395 531,085 564,094 9,250 130,076 139,326 424,767 25%
Operating Expenditures 1,917,524 1,958,259 2,337,978 2,941,629 2,974,645 335,075 130,083 465,158 2,509,486 16%
Bad Debt 55 - - - - - - - - -
Interfund Allocations 193,433 180,392 256,504 322,879 322,879 54,297 - 54,297 268,582 17%
Total Expenditures 2,111,012 2,138,651 2,594,482 3,264,508 3,297,523 389,372 130,083 519,455 2,778,068 16%
Department Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The Department of Administration & Finance provides financial management and administrative services to City operations including finance and accounting services and risk management. This
budget accounts for the expenditures of the Controller's Office.
Personnel - Includes the wages and benefits for twenty-one (21) full-time employees which include accounts payable, payroll, purchasing, and accounting staff. | Supplies - Includes office supplies. |
Services - Professional services budgeted include bond continuing disclosure, arbitrage compliance, actuarial evaluation for GASB 74 (done every other year), and the annual financial audit. Education
and training budgeted includes funding for travel to conferences and membership dues for professional organizations. Printing and advertising is for the cost of printing the budget book, annual
comprehensive financial report (ACFR), and legal notices in the newspaper.
This department is funded by the Admin Cost Allocation - an interfund allocation where the budgeted costs of the administrative departments in the General Fund (#101) are charged to other City
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Human Resources Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 400,053 348,620 456,149 520,204 520,204 75,773 - 75,773 444,431 15%
Fringe Benefits 148,223 120,229 166,913 213,926 213,926 29,933 - 29,933 183,994 14%
Total Personnel 548,276 468,849 623,062 734,130 734,130 105,705 - 105,705 628,425 14%
Supplies 2,165 7,263 8,124 17,000 17,000 2,579 - 2,579 14,421 15%
Services & Charges
Professional Services - 315 2,115 - 5,000 130 - 130 4,871 3%
Printing & Advertising 287 1,668 3,487 4,500 4,500 - - - 4,500 0%
Repairs & Maintenance 150 450 1,120 - 1,652 140 - 140 1,512 8%
Education & Training 1,361 14,363 10,198 35,000 28,628 3,828 - 3,828 24,800 13%
Travel - 2,507 4,109 6,000 6,000 1,645 - 1,645 4,355 27%
Other Services & Charges 1,609 3,681 4,206 6,500 6,500 2,088 - 2,088 4,412 32%
Total Services & Charges 3,407 22,984 25,234 52,000 52,280 7,831 - 7,831 44,450 15%
Operating Expenditures 553,847 499,096 656,421 803,130 803,410 116,115 - 116,115 687,296 14%
Interfund Allocations 97,478 124,410 118,020 137,353 137,353 23,064 - 23,064 114,290 17%
Total Expenditures 651,325 623,506 774,441 940,483 940,763 139,178 - 139,178 801,586 15%
Division Purpose:
Explanation of Revenue Sources:
Human Resources oversees the interviewing and hiring of City employees, manages employee benefits and training, and ensures the City adheres to employment laws, making the City a great place to
work. Human Resources continues to develop/implement innovative programs to build a positive workplace culture.
Personnel - The personnel budget includes the wages and benefits for eight (8) full-time employees. | Supplies - The supplies budget includes general office supplies and employee ID badges. |
Services - Printing services include the printing of employee handbooks. Other charges & services includes dues & memberships with professional associations, background checks, and City
sponsored events/job fairs.
This division is funded by the Admin Cost Allocation - an interfund allocation where the budgeted costs of the administrative departments in the General Fund (#101) are charged to other City funds.
The purpose of the allocation is to recover management oversight costs supported by General Fund expenditures.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Diversity & Inclusion Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 206,014 150,127 165,019 251,412 251,412 34,450 - 34,450 216,962 14%
Fringe Benefits 64,933 36,526 47,264 92,401 92,401 13,482 - 13,482 78,919 15%
Total Personnel 270,948 186,653 212,283 343,813 343,813 47,933 - 47,933 295,881 14%
Supplies 1,486 389 1,854 1,000 1,000 48 - 48 952 5%
Services & Charges
Professional Services 194,734 156,689 50,000 80,000 147,858 5,188 74,513 79,700 68,158 54%
Printing & Advertising 1,581 1,960 14,834 8,500 21,651 2,626 240 2,866 18,785 13%
Repairs & Maintenance - - - - - - - - - -
Education & Training 10,780 595 14,297 100,000 74,431 - 10,431 10,431 64,000 14%
Travel - 1,862 8,129 10,000 48,326 - 13,326 13,326 35,000 28%
Other Services & Charges 3,755 1,155 50 6,000 7,000 25 - 25 6,975 0%
Machinery & Equipment - - - - - - - - - -
Total Services & Charges 210,850 162,261 87,309 204,500 299,266 7,838 98,509 106,348 192,918 36%
Operating Expenditures 483,283 349,303 301,446 549,313 644,079 55,819 98,509 154,329 489,751 24%
Interfund Allocations 63,404 82,269 100,951 108,504 108,504 18,187 - 18,187 90,317 17%
Total Expenditures 546,687 431,572 402,397 657,817 752,583 74,006 98,509 172,515 580,068 23%
Revenue
Charges for Services - - - - - - - - -
Other Income 500 - - - - - - - -
Donations - - - - - - - - -
Total Revenue 500 - - - - - - -
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The Office of Diversity, Equity, Inclusion provides educational opportunities for internal and external stakeholders, direction for equitable policy, process and procedure development for City services,
funding disbursement, and underrepresented population entrepreneurship that empowers every employee and resident to thrive.
This office is primarily funded by the Admin Cost Allocation - an interfund allocation where the budgeted costs of the administrative departments in the General Fund (#101) are charged to other
City funds. The purpose of the allocation is to recover management oversight costs supported by General Fund expenditures.
2020: Living Cities Inclusive Procurement grant $50,000
2021: Workshop and training fees ($3,000 full day training workshops), non-compliance fees (variable scale), white papers ($50-$175)
Personnel - The personnel budget includes the wages and benefits for three (3) full-time employees, along with a budget for interns. | Supplies - There is a small budget for office supplies. |
Services - The travel budget is for staff to attend various conferences. Possible conferences include: American Contract Compliance Association (ACCA), Just Economy, Government Alliance on
Race and Equity (GARE), Mid-States Minority Supplier Development Council (MSDC), Living Cities. Other services & charges covers memberships to the following organizations: ACCA, GARE,
Women's Business Enterprise National Council (WBENC), MidStates MSCS.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Human Rights Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 135,895 196,677 141,006 224,974 305,996 28,917 - 28,917 277,079 9%
Fringe Benefits 55,005 68,742 46,554 104,296 135,763 9,983 - 9,983 125,780 7%
Total Personnel 190,901 265,418 187,560 329,270 441,759 38,900 - 38,900 402,859 9%
Supplies 969 1,980 2,497 3,000 3,000 588 - 588 2,412 20%
Services & Charges
Professional Services 3,538 - 1,079 3,500 3,500 - - - 3,500 0%
Printing & Advertising 407 23,554 2,740 13,500 13,500 - 225 225 13,275 2%
Repairs & Maintenance 8,151 7,982 6,972 10,000 10,000 1,886 - 1,886 8,115 19%
Education & Training - 1,681 3,496 5,000 5,084 - 84 84 5,000 2%
Travel - - 12,885 - 2,148 - 2,148 2,148 - 100%
Other Services & Charges 45,538 44,960 51,739 57,500 60,856 1,199 29,949 31,148 29,708 51%
Total Services & Charges 57,634 78,178 78,910 89,500 95,088 3,084 32,406 35,490 59,598 37%
Operating Expenditures 249,504 345,576 268,968 421,770 539,847 42,573 32,406 74,979 464,869 14%
Interfund Allocations 46,175 47,319 56,286 56,649 56,649 9,521 - 9,521 47,128 17%
Total Expenditures 295,679 392,895 325,254 478,419 596,497 52,094 32,406 84,500 511,997 14%
Revenue
Other Income 30,049 30,659 30,000 30,000 30,000 - - 30,000 0%
Total Revenue 30,049 30,659 30,000 30,000 30,000 - - 30,000 0%
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The purpose of the South Bend Human Rights Commission (HRC) is to study and act upon problems which involve relationships between members of different ethnic groups, sexes, sexual
orientation or gender identity, nationalities, the disabled, and families with children. The HRC's duties lie in enforcing employment, fair housing, public accommodations, and education. Their goal is
to ensure equal employment opportunity for all individuals, and to provide legal recourse in the areas of discrimination. The HRC provides the keys to unlock the doors of discrimination.
This division is funded by property tax revenue collected in the General Fund. This division also receives a small amount of revenue from an agreement with St. Joseph County:
In 2017, the South Bend Human Rights Commission (HRC) entered into an interlocal agreement with St. Joseph County. The continued partnership with St. Joseph County, to investigate
discrimination complaints, has resulted in an increase in caseload. The agreement calls for the County to reimburse HRC to support the costs associated with the increased caseload. Starting in 2019, as
part of the interlocal agreement, St. Joseph County reimburses the City $30,000 a year to support the HRC.
Note: Federal grants from the Department of Housing & Urban Development (HUD) and the Equal Employment Opportunity Commission (EEOC) are received in the Human Rights Federal
Grants Fund (#258).
Personnel - The personnel budget includes the wages and benefits for four (4) full-time employees, along with a budget for one part-time position. Human Rights also has two (2) grant-funded
positions budgeted in the Human Rights Federal Grants Fund (#258) that are not represented in this budget. | Supplies - There is a small budget for office supplies. | Services - Includes office space
rental and maintenance, education & training for staff members, and printing and mailing expenses.
In 2022, the Director of Human Rights position was added back. The Director of Human Rights serves on the senior leadership team of the Office of Diversity and Inclusion and provide strategic
leadership for the administration, operation, and functions of the HRC in accordance with the City of South Bend Human Rights Ordinance and St. Joseph County Human Rights Ordinance. The
director manages staff in the identification, investigation, mediation, and adjudication of human rights discrimination claims in housing, employment, public accommodations, and education.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Department Name Legal Department Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 895,492 952,878 1,042,113 1,225,209 1,225,209 169,655 - 169,655 1,055,554 14%
Fringe Benefits 291,446 307,331 338,313 436,669 436,669 52,309 - 52,309 384,359 12%
Total Personnel 1,186,938 1,260,209 1,380,426 1,661,878 1,661,878 221,965 - 221,965 1,439,913 13%
Supplies 1,515 4,919 3,312 5,000 5,000 154 300 454 4,546 9%
Services & Charges
Professional Services 9,384 3,780 884 10,000 15,175 - 5,175 5,175 10,000 34%
Other Professional Services - - 30 - - - - - - -
Printing & Advertising 252 170 - 1,000 1,000 - - - 1,000 0%
Repairs & Maintenance 1,000 - - 700 700 - - - 700 0%
Education & Training 7,108 9,450 17,518 16,000 16,337 321 912 1,233 15,104 8%
Travel - 2,583 3,057 10,500 10,500 - 2,227 2,227 8,274 21%
Other Services & Charges 18,408 21,798 38,271 26,600 27,288 4,728 18,237 22,965 4,324 84%
Total Services & Charges 36,152 37,781 59,761 64,800 71,001 5,049 26,550 31,599 39,402 45%
Operating Expenditures 1,224,605 1,302,909 1,443,500 1,731,678 1,737,878 227,167 26,850 254,017 1,483,861 15%
Bad Debt - - - - - - - - - -
Interfund Allocations 174,889 171,530 137,943 272,384 272,384 45,670 - 45,670 226,714 17%
Total Expenditures 1,399,494 1,474,439 1,581,443 2,004,061 2,010,262 272,837 26,850 299,688 1,710,575 15%
Revenue
Charges for Services 91,343 93,627 96,436 99,329 99,329 - - 99,329 0%
Other Income - 794 153 - - - - - -
Interfund Allocation Reimb - - - - - - - - -
Total Revenue 91,343 94,421 96,589 99,329 99,329 - - 99,329 0%
Department Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The Legal Department provides quality legal representation to the City of South Bend’s Mayor, departments, commissions and agencies with a dedicated and professionally-skilled staff, efficiently and
cost effectively, in furtherance of the City’s strategic goals, and preserving the legal and ethical integrity of the City.
This department is funded by the Admin Cost Allocation - an interfund allocation where the budgeted costs of the administrative departments in the General Fund (#101) are charged to other City
funds. The purpose of the allocation is to recover management oversight costs supported by General Fund expenditures. This department also collects revenue for legal services provided to the South
Bend Redevelopment Commission. The Interfund Allocation Reimbursement was a transfer from the Liability Insurance Fund (#226) to reimburse the Legal Dept for 50% of personnel costs for
Assistant City Attorney. In 2021, the allocation was discontinued as the position was already covered by the administrative cost allocation.
Personnel - The personnel budget includes the wages and benefits for twelve (12) full-time employees, one part-time employee, and $25k for interns. From 2020 to 2021, the personnel budget
increased as one (1) full-time Paralegal position was transferred from the Liability Insurance Fund (#226) to the Legal Department's budget in the General Fund (#101). This position is under the
Legal Department but was historically budgeted in Fund #226 because the position focuses on liability and workers' comp related matters. | Supplies - The supplies budget includes general office
supplies. | Services - Education & training includes funding for professional development and continuing education for the attorneys. Other charges & services includes dues & memberships with
professional associations, postage, and subscriptions to legal research sources.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Engineering Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 1,731,698 1,734,557 1,910,499 2,392,126 2,392,126 304,298 - 304,298 2,087,828 13%
Fringe Benefits 592,477 603,160 630,786 925,462 925,987 104,484 525 105,009 820,978 11%
Total Personnel 2,324,174 2,337,717 2,541,285 3,317,588 3,318,113 408,782 525 409,307 2,908,806 12%
Supplies 7,128 11,798 141,529 226,472 295,777 1,113 70,900 72,013 223,764 24%
Services & Charges
Professional Services 192,618 81,144 148,601 271,635 352,355 8,729 131,966 140,695 211,660 40%
Printing & Advertising 5,897 6,215 5,697 8,953 10,255 993 1,200 2,193 8,063 21%
Repairs & Maintenance 5,931 5,623 4,649 27,700 27,700 212 - 212 27,488 1%
Education & Training 1,157 33,980 23,536 21,000 22,282 4,489 6,353 10,841 11,441 49%
Travel 3,986 7,452 9,885 15,250 16,290 873 3,140 4,013 12,277 25%
Other Services & Charges 11,024 8,069 61,175 96,470 97,180 740 660 1,400 95,780 1%
Debt Service Principal 4,493 - - - - - - - - -
Debt Service Interest & Fees 51 - - - - - - - - -
Capital Outlay - - 29,380 - - - - - - -
Total Services & Charges 225,158 142,483 282,923 441,008 526,063 16,035 143,319 159,354 366,709 30%
Operating Expenditures 2,556,460 2,491,997 2,965,737 3,985,069 4,139,953 425,930 214,744 640,674 3,499,279 15%
Bad Debt - - - - - 25 - 25 (25) -
Interfund Allocations 567,032 459,896 443,847 629,933 629,933 105,573 - 105,573 524,360 17%
Total Expenditures 3,123,492 2,951,893 3,409,584 4,615,002 4,769,887 531,528 214,744 746,272 4,023,614 16%
Revenue
Licenses & Permits 122,575 177,070 82,125 155,582 155,582 22,890 22,890 132,692 15%
Charges for Services 192,000 196,000 198,000 201,960 201,960 - - 201,960 0%
Fines - 24 - - - - - - -
Other Income 6,401 12,317 19,868 8,000 8,000 10,000 10,000 (2,000) 125%
Interfund Allocation Reimb 1,449,233 1,514,420 1,567,451 1,685,787 1,685,787 280,965 280,965 1,404,823 17%
Total Revenue 1,770,209 1,899,831 1,867,444 2,051,329 2,051,329 313,855 313,855 1,737,475 15%
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
Engineering manages the development and expansion of the City’s infrastructure. It oversees Public Works projects from setting the standards to issuing the permits, administering the contracts, and
This division is funded by property tax revenue collected in the General Fund. It also receives revenue from permits issued and charges for engineering services. Engineering has an Engineering
Service Agreement (ESA) agreement with the Department of Community Investment (DCI). Interfund Allocation Reimbursement is the Payroll Cost Allocation, which allocates a portion of wages
and benefits for positions that serve other divisions within the Department of Public Works, especially Engineers. These positions are allocated out to the following Public Works divisions: Streets
(Fund #202), Water Works (Fund #620), Sewer Insurance (Fund #640), Sewage Works Operations Fund (#641).
Personnel - The personnel budget includes the wages and benefits for twenty-five (25) full-time employees, one (1) part-time position, and seasonal interns. Personnel changes in 2021 include the
addition of one (1) full-time Engineer II and the elimination of the budget for part-time engineers, leaving budget for one part-time clerical position. | Supplies - The supplies budget includes office
supplies and supplies for engineers to perform field work. | Services - Professional Services include consulting and design services for various Public Works projects.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Office of Sustainability Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 45,231 - - - - - - - - -
Fringe Benefits 14,506 - - - - - - - - -
Total Personnel 59,737 - - - - - - - - -
Supplies 534 - - - - - - - -
Services & Charges
Professional Services 5,890 - - - 33,000 - 33,000 33,000 - 100%
Repairs & Maintenance 285 - - - - - - - - -
Education & Training 150 - - - - - - - - -
Other Services & Charges 3,700 - - - - - - - - -
Total Services & Charges 10,025 - - - 33,000 - 33,000 33,000 - 100%
Operating Expenditures 70,295 - - - 33,000 - 33,000 33,000 - 100%
Capital - - - - - - - - - -
Interfund Allocations 20,146 - - - - - - - - -
Total Expenditures 90,441 - - - 33,000 - 33,000 33,000 - 100%
Revenue
Other Income - - - - - - - - -
Total Revenue - - - - - - - - -
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The Office of Sustainability designs and implements projects and programs that bring environmental, social, and economic value to city government and the public.
This division was funded by property tax revenue collected in the General Fund.
The Office of Sustainability was a division of the Department of Public Works prior to 2021. In 2021, Sustainability was moved under the Department of Community Investment (DCI) and will be
accounted for in the DCI Fund (#211) beginning in 2022.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name AmeriCorps Grant Program Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 166,836 - - - - - - - - -
Fringe Benefits 28,717 - - - - - - - - -
Total Personnel 195,554 - - - - - - - - -
Supplies 2,903 - - - - - - - - -
Services & Charges
Professional Services 22,862 - - - - - - - - -
Printing & Advertising - - - - - - - - - -
Education & Training - - - - - - - - - -
Travel - - - - - - - - - -
Other Services & Charges 1,345 - - - - - - - - -
Total Services & Charges 24,207 - - - - - - - - -
Total Expenditures 222,663 - - - - - - - - -
Revenue
Intergov./ Grants 184,811 - - - - - - - -
Other Income 379 - - - - - - - -
Interfund Transfers In 120,000 - - - - - - - -
Total Revenue 305,190 - - - - - - - -
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
In 2018, the City of South Bend won a $150,000 grant to fund South Bend Home Corps, a new residential efficiency, health, and safety program staffed by ten AmeriCorps members. The AmeriCorps
program was overseen by the Office of Sustainability. AmeriCorps is a network of national service programs, made up of three primary programs that each take a different approach to improving lives
and fostering civic engagement. Members commit their time to address critical community needs like increasing academic achievement, mentoring youth, fighting poverty, and preparing for disasters.
This program was funded by property tax revenue collected in the General Fund, the AmeriCorps grant, and transfers in from City departments that benefited from the AmeriCorps program.
In 2021, the decision was made to discontinue participation in the AmeriCorps Grant Program as the program is duplicative of other initiatives throughout the City, specifically in the Department of
Community Investment (DCI). In 2022, the work the AmeriCorps Program was engaged in will be continued within DCI, primarily within the Engagement & Economic Empowerment,
Neighborhoods, and Sustainability teams accounted for in the DCI Fund (#211).
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Department Name Police Department Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 16,370,447 504,324 20,025,388 20,918,393 20,918,393 3,028,879 - 3,028,879 17,889,514 14%
Fringe Benefits 5,728,486 - 7,944,292 9,791,584 9,791,584 1,356,669 - 1,356,669 8,434,915 14%
Total Personnel 22,098,933 504,324 27,969,681 30,709,978 30,709,978 4,385,549 - 4,385,549 26,324,429 14%
Supplies 955,573 1,390,275 1,358,732 1,428,050 1,488,415 436,528 95,373 531,901 956,514 36%
Services & Charges
Professional Services 495,799 360,416 1,177,704 730,000 842,496 128,731 221,232 349,963 492,533 42%
Printing & Advertising 55,375 204,973 74,591 155,000 156,505 4,954 3,000 7,954 148,551 5%
Utilities 182,655 197,178 215,910 210,000 210,000 28,188 - 28,188 181,812 13%
Repairs & Maintenance 822,096 899,760 1,196,027 1,010,199 1,026,507 197,682 11,316 208,998 817,510 20%
Education & Training 56,136 - 2,076 - - - - - - -
Travel 2,618 573 7,697 250 250 - - - 250 0%
Grants & Subsidies 11,075 21,165 9,970 357,000 357,200 9,100 2,700 11,800 345,400 3%
Other Services & Charges 344,841 293,980 345,062 394,108 449,334 85,096 17,421 102,517 346,817 23%
Debt Service Principal 141,305 - 193,179 1,782,196 1,782,196 - - - 1,782,196 0%
Debt Service Interest & Fees 1,615 - 6,512 146,498 146,498 - - - 146,498 0%
Total Services & Charges 2,113,516 1,978,044 3,228,726 4,785,251 4,970,987 453,750 255,668 709,419 4,261,567 14%
Operating Expenditures 25,168,022 3,872,642 32,557,138 36,923,278 37,169,379 5,275,827 351,041 5,626,868 31,542,510 15%
Capital - 52,630 3,287,851 2,226,000 3,038,431 800,087 177,900 977,986 2,060,444 32%
Bad Debt - - - 300 300 - - - 300 0%
Interfund Allocations 4,863,457 5,158,753 4,943,084 5,624,271 5,624,271 937,378 - 937,378 4,686,892 17%
Total Expenditures 30,031,479 9,084,025 40,788,073 44,773,849 45,832,381 7,013,292 528,941 7,542,233 38,290,146 16%
Revenue
Intergov./ Grants 210,402 - - - - - - - -
Charges for Services - - - - - - - - -
Other Income 338,317 386,767 505,716 421,900 421,900 33,655 33,655 388,245 8%
Donations - - - 7,500 7,500 - - 7,500 0%
Capital Lease Proceeds - - 1,827,500 2,176,000 2,176,000 - - 2,176,000 0%
Total Revenue 548,719 386,767 2,333,216 2,605,400 2,605,400 33,655 - 33,655 2,571,745 1%
Department Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
MISSION: The South Bend Police Department works to safeguard the lives and property of the people we serve, to reduce the incidence and fear of crime, and to resolve problems among residents.
The Department, in partnership with our community, strives to protect the life, property, and the personal liberties of all individuals. We believe that the overall quality of life for all residents will
improve through the deterrence of criminal activity and an understanding of the diversity of cultures within this community. We also work to build and sustain community-police relationships to
advance a culture of trust and inclusion.
VISION: To constantly strive for excellence in the quality of police service to help ensure a safe community for everyone.
This department is funded by property tax revenue collected in the General Fund. The department also receives reimbursement for officers working at various events and other units. Other income
includes $320,000 from the School Resource Officer (SRO) program, $60,000 from the ATF, $7,000 from the DEA, $7,500 for firearms training of the University of Notre Dame police officers, and
$29,000 from the rental of property. In 2020, the Police Department received funds from the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help offset public safety personnel
overtime costs related to the COVID-19 pandemic. This revenue is represented as an interfund transfer in from the COVID-19 Response Fund (#264). Additionally, in 2021, grant revenue was
received from the Department of Justice to help offset public safety personnel overtime costs related to the COVID-19 pandemic.
Personnel - The personnel budget includes the wages and benefits for 36 full-time civilians and 232 sworn officers, along with a budget for part-time employees and seasonal school crossing guards. A
portion of sworn police officer wages are supported by the Local Income Tax Public Safety Fund (#249). For 2022, budgeted support is a little over $6 million. The Department has not been at full
staffing levels for sworn officers for some time due to a shortage of applicants, something many law enforcement agencies are experiencing. | Supplies - The majority of the supplies budget is for fuel
for patrol cars, budgeted at $635k for 2022. Taser purchases are budgeted at $110k per year until 2023. Other supplies budgeted include uniforms, medical & safety supplies, small tools & equipment,
building maintenance supplies, and general office supplies.| Services & Charges - Professional services includes funding to support the St. Joseph County Special Victims Unit, an interlocal
partnership between the St. Joseph County Police Department, Mishawaka Police Department, South Bend Police Department, and St. Joseph County Prosecutor’s Office. Professional services also
includes legal services. Utilities includes the water, electric, and natural gas for the police station. Repairs & maintenance includes $880k for police vehicles, radios, and other equipment, and $85k for
building R&M. Other services & charges includes $210k for telecommunications and data expenses for cell phones, pagers, and body cameras. | Grants & Subsidies - funding for the Police Athletic
League (PAL) Program. | Debt Service - Several police car leases funded by the General Fund will be fully paid off in 2021. In recent years, the purchase of new patrol cars through capital leases has
been funded by the Local Income Tax Certified Shares Fund (#404).
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Police Crime Lab Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 346,190 - 465,255 501,800 501,800 70,820 - 70,820 430,980 14%
Fringe Benefits 118,776 - 158,621 204,327 204,327 25,493 - 25,493 178,834 12%
Total Personnel 464,966 - 623,875 706,127 706,127 96,313 - 96,313 609,814 14%
Supplies 15,138 14,951 18,860 17,000 17,074 2,672 1,024 3,697 13,377 22%
Services & Charges
Professional Services - - - - - - - - - -
Printing & Advertising - - - - - - - - - -
Education & Training - - - - - - - - - -
Travel - - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Operating Expenditures 480,105 14,951 642,735 723,127 723,201 98,985 1,024 100,009 623,191 14%
Interfund Allocations 148,571 191,479 194,740 236,867 236,867 39,677 - 39,677 197,190 17%
Total Expenditures 628,676 206,430 837,475 959,994 960,068 138,662 1,024 139,686 820,381 15%
Revenue
Charges for Services 26,169 10,844 14,369 10,000 10,000 1,738 1,738 8,263 17%
Total Revenue 26,169 10,844 14,369 10,000 10,000 1,738 1,738 8,263 17%
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This division was created to track expenditures related to South Bend Police Department Crime Lab.
Crime Lab services offered include: serial number restoration, tool matching, fracture matching, tires and footwear, video analysis, trace evidence examination, distance proximity determination, expert
testimony, facial recognition.
This division is funded by property tax revenue collected in the General Fund. The Crime Lab offers services to other agencies for a charge. Revenue for services continues to grow but is budgeted
Personnel - The personnel budget includes the wages and benefits for seven (7) full-time civilians. | Supplies - The supplies budget includes operating supplies for the Crime Lab such as gloves,
special cartridges, ballistic powder, and other specialized supplies. | Interfund Allocations - Starting in 2021, the Crime Lab will be charged for the Information Technology (IT) Allocation and the
Administrative Cost Allocation.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Department Name Fire Department Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 15,905,583 62,956 16,950,271 16,809,343 16,809,343 2,339,253 - 2,339,253 14,470,090 14%
Fringe Benefits 5,621,419 - 6,745,156 8,216,010 8,216,010 1,172,097 - 1,172,097 7,043,913 14%
Total Personnel 21,527,001 62,956 23,695,427 25,025,352 25,025,352 3,511,350 - 3,511,350 21,514,003 14%
Supplies 592,256 900,416 831,842 940,400 1,130,829 193,447 273,591 467,038 663,791 41%
Services & Charges
Professional Services 351,832 444,791 666,736 475,000 476,253 72,875 15,051 87,926 388,327 18%
Printing & Advertising 2,040 4,120 3,129 35,000 35,000 732 - 732 34,268 2%
Utilities 271,750 277,460 259,160 292,000 292,000 49,762 - 49,762 242,238 17%
Repairs & Maintenance 992,999 1,140,770 1,216,441 1,124,000 1,127,707 247,357 15,873 263,230 864,477 23%
Education & Training 79,268 132,088 133,566 130,000 134,786 33,010 17,463 50,473 84,313 37%
Travel 12,979 28,512 34,408 30,000 37,909 14,422 24,718 39,140 (1,231) 103%
Other Services & Charges 50,324 54,361 48,795 55,000 55,018 10,519 - 10,519 44,499 19%
Total Services & Charges 1,761,191 2,082,102 2,362,234 2,141,000 2,158,673 428,678 73,104 501,783 1,656,891 23%
Operating Expenditures 23,880,448 3,045,474 26,889,503 28,106,752 28,314,855 4,133,475 346,696 4,480,171 23,834,685 16%
Interfund Allocations 2,493,373 2,880,306 3,025,261 2,847,054 3,043,508 514,111 - 514,111 2,529,397 17%
Total Expenditures 26,373,821 5,925,780 29,914,764 30,953,806 31,358,362 4,647,586 346,696 4,994,282 26,364,082 16%
Revenue
Charges for Services 340 516 393 1,000 1,000 45 45 955 5%
Intergov./ Grants 94,668 - - - - - - - -
Licenses & Permits 23,137 29,308 24,914 26,000 26,000 2,719 2,719 23,281 10%
Donations - 100 5,000 - - - - - -
Other Income 20,678 24,510 18,823 1,000 1,000 95,770 95,770 (94,770) 9577%
Interfund Transfers In 607,079 - - - - - - - -
Total Revenue 745,902 54,434 49,130 28,000 28,000 98,534 98,534 (70,534) 352%
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The South Bend Fire Department exists to provide our community with the highest quality emergency services protecting life and property through education, response, and dynamic outreach. The
objective of the South Bend Fire Department is to provide rapid and efficient response to emergency medical incidents, fires, hazardous materials incidents, and complex rescue situations in order to
safeguard the life and property of our citizens. This requires planning and development of response capabilities to ensure that future needs and the efficiency of operations are addressed. Public
education and prevention services are provided to ensure citizen safety before an incident occurs. This is the safest and most cost-effective method for providing public safety. The South Bend Fire
Department endeavors to give the best emergency medical care available backed by evidence-based medical practices which give citizens the best chance for positive outcomes and continued quality
of life. Providing the members of the South Bend Fire Department with the latest and best available equipment and training to perform their duties gives them the tools to effect the best possible
outcomes when emergencies occur. The South Bend Fire Department is dedicated to providing expert-level service with an all-hazards approach to public safety.
This department is funded by property tax revenue collected in the General Fund. This department also collects fire building plan review fees. | In 2020, the Fire Department received funds from the
Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help offset public safety personnel overtime costs related to the COVID-19 pandemic. This revenue is represented as an
interfund transfer in from the COVID-19 Response Fund (#264).
Personnel - The personnel budget includes the wages and benefits for seven (7) full-time civilians and 256 sworn firefighters, along with a small budget of $6k for interns. A portion of sworn
firefighter wages are supported by the Local Income Tax Public Safety Fund (#249). For 2022, budgeted support is a little over $6 million. The South Bend Fire Department conducts recruit
academies when its staffing becomes insufficient, generally after the 6th opening. The academy is approximately 21 weeks long - therefore, the department budgets 6 civilian recruit positions for 21
weeks. | Supplies - $390k is budgeted for operating supplies including personal protective equipment (PPE), training materials and equipment, and more. $181k is budgeted for fuel for vehicles. |
Services & Charges - Professional services includes elevator and boiler inspections; various testing including physicals for firefighters, divers, and hazmat; and legal services. Utilities includes the
water, electric, and natural gas for the eleven fire stations. Repairs & maintenance includes $770k for vehicles, $125k for radios, $22k for other equipment, and $115k for buildings. | Capital - Fire
Department capital needs are budgeted in the Fire Department Capital Fund (#287). | Accounting Changes - In 2020, the Fire Department moved all firefighters assigned to Emergency Medical
Services to the General Fund. This includes wages & benefits, supplies, and services previously accounted for in the EMS Operating Fund (#288). Keeping firefighter EMS personnel in a separate
budget was impractical due to frequently changing assignments. EMS expenditures related to billing are accounted for in separate division in the General Fund.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Emergency Medical Services Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 146,217 - 159,564 168,990 168,990 23,852 - 23,852 145,138 14%
Fringe Benefits 79,326 - 79,700 95,938 95,937 13,963 - 13,963 81,974 15%
Total Personnel 225,543 - 239,264 264,928 264,927 37,815 - 37,815 227,112 14%
Supplies 387,434 295,674 277,728 357,000 385,134 53,812 27,605 81,417 303,717 21%
Services & Charges
Professional Services 22,033 43,132 26,696 51,000 55,437 15,305 1,973 17,279 38,158 31%
Printing & Advertising - - - - - - - - - -
Repairs & Maintenance 3,704 2,464 7,638 5,000 5,000 - 8,317 8,317 (3,317) 166%
Education & Training 7,912 199 4,037 4,000 4,000 - - - 4,000 0%
Other Services & Charges 63,559 57,003 79,024 59,000 59,000 12,986 794 13,780 45,220 23%
Total Services & Charges 97,208 102,798 117,394 119,000 123,437 28,291 11,085 39,376 84,061 32%
Operating Expenditures 710,184 398,472 634,386 740,928 773,498 119,919 38,690 158,608 614,890 21%
Bad Debt 594 830 1,116 - - 639 - 639 (639) -
Interfund Allocations - - 507 - - 90 - 90 (90) -
Total Expenditures 710,778 399,302 636,009 740,928 773,498 120,647 38,690 159,337 614,161 21%
Revenue
Charges for Services 4,195,362 4,395,365 5,138,527 3,824,580 3,824,580 912,998 912,998 2,911,582 24%
Fines, Forfeitures, and Fees 11 12 - - - - - - -
Other Income 588 1,418 7,112 - - 23,661 23,661 (23,661) -
Total Revenue 4,195,961 4,396,795 5,145,639 3,824,580 3,824,580 936,659 936,659 2,887,921 24%
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The Fire Department recovers significant portion of the cost of EMS services through insurance and patient payments.
Personnel - The personnel budget includes the wages and benefits for four (4) full-time EMS billing personnel. | Supplies - $323k is budgeted for operating supplies for ambulances, $7.4k for small
tools & equipment, and $2k for office supplies. | Services & Charges - Professional services includes collection costs and cleaning services. Utilities includes the water, electric, and natural gas for the
eleven (11) fire stations. Repairs & maintenance includes funding for repairs & maintenance for ambulances and repairs to small equipment. Other charges & services includes credit card processing
fees and postage. | Accounting Changes - Prior to 2020, the EMS operations were tracked in the EMS Operating Fund (#288). Revenue received from EMS services was not sufficient to cover
expenses. Keeping EMS in its own fund would require interfund transfers. Starting in 2020, EMS activities were moved to the General Fund. Moving EMS revenue and expenditures into the General
Fund simplified accounting. Ideally, the cost of firefighters assigned to EMS activities would be tracked here as well; but due to frequent changes in assignments, it has proven impractical. Instead, the
Fire Department will estimate EMS personnel costs by number of positions assigned, rather than specific firefighters.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Fire Training Center Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Supplies 13,287 16,958 32,351 17,000 33,225 17,991 5,672 23,663 9,562 71%
Services & Charges
Professional Services - 1,929 6,208 2,000 2,000 - - - 2,000 0%
Utilities 18,331 31,665 33,180 35,500 35,500 7,351 - 7,351 28,149 21%
Repairs & Maintenance 635 4,246 - 10,000 10,000 - - - 10,000 0%
Total Services & Charges 18,966 37,840 39,388 47,500 47,500 7,351 - 7,351 40,149 15%
Operating Expenditures 32,253 54,797 71,739 64,500 80,725 25,342 5,672 31,013 49,711 38%
Total Expenditures 32,253 54,797 71,739 64,500 80,725 25,342 5,672 31,013 49,711 38%
Revenue
Charges for Services 0 5,935 52,439 50,000 50,000 45,309 45,309 4,691 91%
Other Income - 1,137 - - - - - - -
Total Revenue 0 7,072 52,439 50,000 50,000 45,309 - 45,309 4,691 91%
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This division was established in 2020 to account for a portion of the costs of the Luther J Taylor Sr. Fire Training Center and associated revenue. Construction of the Training Center was completed in
2014. Prior to that, the South Bend Fire Department would have to find locations for training opportunities, such as using vacant or abandoned houses. The Training Center provided a much needed
resource for the South Bend Fire Department as well as other agencies in the area. Firefighters can practice fighting fires in a controlled environment under different scenarios such as apartment
buildings, businesses, commercial kitchens, and cars. The Training Center also hosts the recruit academy, as well as classes for the South Bend Fire Department and other agencies.
This division is funded by property tax revenue collected in the General Fund and by charges to outside fire departments for their use of the Luther J Taylor Sr. Fire Training Center. Recruit Academy
and other classes are offered to other agencies for a fee.
Expenditures are directly related to running the Training Center and include utilities and maintenance of the facility. Supplies and services needed for classes and equipment for recruits is also
accounted for in the Fire Training Center budget.
From 2019 through 2021, capital improvements were made to the training center through the use of bond proceeds. Capital expenditures related to the fire training center upgrade can be seen in the
Fire Station #9 Bond Capital Fund (#451).
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Morris Performing Arts Center Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages 430,859 - - - - - - - - -
Fringe Benefits 200,379 - - - - - - - - -
Total Personnel 631,239 - - - - - - - - -
Supplies 29,271 8,435 - - - - - - - -
Services & Charges
Professional Services 1,650 4,444 - - - - - - - -
Printing & Advertising 14,150 22,310 184 - - - - - - -
Utilities 110,532 - - - - - - - - -
Repairs & Maintenance 61,776 5,816 - - - - - - - -
Education & Training 3,224 25 - - - - - - - -
Travel 3,626 936 - - - - - - - -
Other Services & Charges 12,862 1,367 - - - - - - - -
Total Services & Charges 207,820 34,898 184 - - - - - - -
Operating Expenditures 868,330 43,333 184 - - - - - - -
Interfund
Interfund Allocations 237,973 - - - - - - - - -
Interfund Transfers Out - 600,000 - - - - - - - -
Interfund Total 237,973 600,000 - - - - - - - -
Total Expenditures 1,106,303 643,333 184 - - - - - - -
Revenue
Charges for Services 654,679 - - - - - - - -
Intergov./ Grants 992,163 - - - - - - - -
Other Income 2,864 54,878 - - - - - - -
Interfund Allocation Reimb 86,746 - - - - - - - -
Interfund Transfers In - - - - - - - - -
Total Revenue 1,736,453 54,878 - - - - - - -
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This division accounts for the operating costs of the Morris Performing Arts Center, the premier performing arts center in this region of the country. It provides improved quality of life to the City's
residents, serves as an economic catalyst in the City, and fosters historic preservation of landmark City venues. The Morris Performing Arts Center (Morris PAC) is a division under the Department of
Venues, Parks & Arts.
In 2022, the Morris Performing Arts Center's operations will be moved into an enterprise fund due to the nature of the Morris' activities. The Morris' revenues previously accounted for in the General
Fund #101) will be moved to the newly created Morris Performing Arts Center Operations Fund (#602).
In 2021, the Morris received the Shuttered Venue Operators Grant (SVOG) from the US Small Business Association to help offset the costs from the COVID-19 closure during 2020.
In 2022, the Morris Performing Arts Center's operations will be moved into an enterprise fund due to the nature of the Morris' activities. The Morris' expenditures previously accounted for in the
General Fund #101) will be moved to the newly created Morris Performing Arts Center Operations Fund (#602). $600,000 is budgeted to be transferred to the new fund to establish the fund's
beginning cash balance. The interfund transfer represents the net profit generated by the Morris in recent years, which reverted to the General Fund (#101).
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Division Name Palais Royale Ballroom Fund Number 101
Fund Type General Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Type
Personnel
Salaries & Wages - - - - - - - - - -
Fringe Benefits - - - - - - - - - -
Total Personnel - - - - - - - - - -
Supplies 1,626 4,457 4,399 5,610 5,610 2,496 - 2,496 3,114 44%
Services & Charges
Printing & Advertising - - - - - - - - - -
Utilities 71,095 85,604 73,117 109,038 109,038 16,888 - 16,888 92,150 15%
Repairs & Maintenance 23,356 36,062 49,881 63,676 63,933 3,592 1,111 4,703 59,230 7%
Other Services & Charges 8,062 15,839 19,446 21,924 21,924 4,707 - 4,707 17,217 21%
Total Services & Charges 102,514 137,506 142,444 194,638 194,895 25,186 1,111 26,297 168,597 13%
Operating Expenditures 104,140 141,963 146,843 200,248 200,505 27,683 1,111 28,794 171,711 14%
Interfund
Interfund Allocations 45,407 36,009 35,799 34,593 34,593 5,765 - 5,765 28,827 17%
Interfund Total 45,407 36,009 35,799 34,593 34,593 5,765 - 5,765 28,827 17%
Total Expenditures 149,547 177,972 182,642 234,841 235,098 33,448 1,111 34,559 200,538 15%
Revenue
Charges for Services 122,575 133,138 128,149 158,734 158,734 18,178 18,178 140,556 11%
Other Income - 4,299 634 - - - - - -
Total Revenue 122,575 137,437 128,783 158,734 158,734 18,178 18,178 140,556 11%
Division Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This division accounts for the operating expenses of the Palais Royale, a premier banquet/meeting facility. It provides exquisite food and beverage catering service, for both social events and business
events, and supports South Bend's downtown economy. The Palais Royale is distinguished by its history and ambiance. The Palais Royale is a division under the Department of Venues, Parks & Arts.
This division is funded by property tax revenue collected in the General Fund. Charges for Services is for the rental of the retail space and reimbursement from the caterer for utilities and LaSalle Grill
for refuse and recycle service.
As a result of a new catering contract, in 2021, the Palais Royale personnel budget was eliminated. One position (Manager-Assistant Facility Operations) was transferred to the Morris Performing Arts
Center budget and one position was eliminated (Administrative Assistant I). The remaining expenses budgeted are for utilities and minor repairs and maintenance of the facility. All utilities are paid
for by the City and will be reimbursed by the caterer.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Motor Vehicle Highway Fund Number 202
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 3,204,129 3,134,543 3,274,223 3,174,424 3,174,424 425,772 425,772 2,748,652 13%
Intergov./ Grants 123,272 - - - - - - - -
Licenses & Permits 1,975 2,175 2,725 1,500 1,500 150 150 1,350 10%
Charges for Services 224,847 112,415 89,847 165,300 165,300 5,919 5,919 159,381 4%
Interest Earnings 23,518 52,037 90,854 22,417 22,417 21,146 21,146 1,271 94%
Debt Proceeds 890,000 817,500 2,235,000 2,670,000 2,670,000 - - 2,670,000 0%
Other Income 41,861 44,405 107,157 29,500 29,500 18,752 18,752 10,748 64%
Interfund Allocation Reimb 150,163 187,963 162,650 167,318 167,318 27,886 27,886 139,432 17%
Interfund Transfers In 3,500,000 5,550,000 5,087,500 10,000,000 10,000,000 1,233,333 1,233,333 8,766,667 12%
Total Revenue 8,159,765 9,901,038 11,049,955 16,230,459 16,230,459 1,732,960 1,732,960 14,497,501 11%
Expenditures by Activity
Streets / Traffic & Lighting 8,652,023 7,313,705 8,783,703 13,908,417 15,988,313 1,972,208 2,844,838 4,817,046 11,171,267 30%
Curb & Sidewalk Program 1,320,264 1,507,024 1,893,969 2,911,667 3,397,528 297,006 345,521 642,528 2,755,001 19%
Total Expenditures 9,972,287 8,820,729 10,677,672 16,820,084 19,385,841 2,269,215 3,190,359 5,459,573 13,926,268 28%
Expenditures by Type
Personnel
Salaries & Wages 2,826,835 2,924,195 3,186,475 3,800,903 3,800,903 641,888 - 641,888 3,159,015 17%
Fringe Benefits 1,168,166 1,203,828 1,297,636 1,713,047 1,713,047 290,486 - 290,486 1,422,561 17%
Total Personnel 3,995,001 4,128,023 4,484,111 5,513,950 5,513,950 932,374 - 932,374 4,581,576 17%
Supplies 898,714 854,478 1,146,446 1,615,391 1,813,068 197,816 134,417 332,232 1,480,835 18%
Services & Charges
Professional Services 389,410 636,199 866,929 1,745,000 2,222,662 157,215 328,611 485,826 1,736,836 22%
Printing & Advertising 771 2,422 1,810 2,950 2,950 149 - 149 2,801 5%
Utilities 41,299 44,781 47,159 64,770 64,770 6,758 - 6,758 58,012 10%
Repairs & Maintenance 637,358 701,876 346,497 984,508 986,080 231,988 3,420 235,408 750,672 24%
Education & Training 2,845 8,291 11,555 30,000 30,050 1,814 - 1,814 28,236 6%
Travel - 5,135 803 25,000 25,000 - 6,953 6,953 18,047 28%
Other Services & Charges 102,368 27,988 138,852 156,620 159,120 282 3,535 3,817 155,303 2%
Debt Service Principal 874,648 891,039 1,113,112 1,469,371 1,469,371 347,365 - 347,365 1,122,006 24%
Debt Service Interest & Fees 39,036 34,928 45,139 201,053 201,053 13,391 - 13,391 187,661 7%
Total Services & Charges 2,087,736 2,352,660 2,571,857 4,679,271 5,161,055 758,962 342,519 1,101,481 4,059,574 21%
Operating Expenditures 6,981,451 7,335,161 8,202,414 11,808,613 12,488,073 1,889,152 476,936 2,366,088 10,121,985 19%
Capital 1,571,080 155,986 1,067,160 3,416,085 5,302,382 112,655 2,713,423 2,826,078 2,476,304 53%
Bad Debt - - - - - - - - - -
Interfund Allocations 1,419,756 1,329,582 1,408,098 1,595,386 1,595,386 267,408 - 267,408 1,327,978 17%
Total Expenditures 9,972,287 8,820,729 10,677,672 16,820,084 19,385,841 2,269,215 3,190,359 5,459,573 13,926,267 28%
Net Surplus / (Deficit) (1,812,522) 1,080,308 372,283 (589,624) (3,155,382) (536,255) (3,726,614)
Beginning Cash Balance 4,772,416 6,607,820 4,772,416 4,772,416
Cash Adjustments 3,647,926 (2,915,713) (5,144,699) -
Ending Cash Balance 6,607,820 4,772,416 - 1,617,034 5,718,445
Cash Reserves Target 2,493,072 2,205,182 2,669,418 4,846,460
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
Cash Reserves Target
25% of Annual expenditures
This fund accounts for a portion of the Streets & Sewers Division's, see operations listed below. Streets & Sewers is a division of the Department of Public Works.
Streets - Repairs and maintains 2,200 lane miles of road surface in the city limits. Maintenance on streets ranges from paving and patching in the summer to plowing snow in the winter. In 2019, the
crack-sealing program was revived in an effort to mitigate water infiltration through cracks in the street surface. Additionally, Streets maintains around 398 miles of alley surface. Also operating under
Streets is Unit 211, a 24/7 response vehicle that works with the South Bend Police and Fire Departments for emergencies. | Traffic & Lighting - Maintains traffic signs, signals, and city-owned
streetlights. Not only does this office provide traffic control in construction areas for Streets & Sewers, but Traffic & Lighting also works with the South Bend Police Dept to provide traffic control
for special events in the city, setting up traffic control for events. Additionally, it is responsible for street painting, i.e., line striping, crosswalks, stop bars, etc. | Curb & Sidewalk - An annual program
to replace sidewalks, curbs, and curb ramps in poor condition at residential properties throughout the City. City Council members select the locations to be reviewed by Engineering for bidding as a
public works project.
This fund receives 50% of the City's gas tax and wheel tax distribution from the State of Indiana. Gas tax revenue is distributed monthly by the State and is based on a complex formula, developed by
the State, which takes into account population, road and street mileage and other factors. Wheel tax is collected by the Indiana Bureau of Motor Vehicles, remitted to the County, and distributed
monthly to the local units based on population and road miles. Tax revenues are not keeping pace with expenses. The City continues to use income tax revenue to support the current level of street
maintenance and repair, transferring funds from Local Income Tax Certified Shares Fund (#404).
Personnel - The personnel budget in this fund includes the wages and benefits of 59 full-time employees and part-time & seasonal workers as well. | Supplies - The supplies budget is for the
procurement of street paving materials and other materials needed to repair and replace street and traffic lights and signs. It also includes operational supplies for the Streets and Traffic & Lighting
operations such as fuel for vehicles, small tools & equipment, uniforms, and office supplies. Road salt is also budgeted in this fund at $350,000 for 2022. | Services - The repair & maintenance budget
includes R&M for vehicles, equipment, and buildings. The professional services budget includes funding for contracted paving of curbs & sidewalks. The utilities budget includes 50% of the costs of
electric, natural gas, and water for the Public Works Service Center. The other 50% is paid for by the Sewers subdivision which is budgeted in the Sewage Works Operations Fund (#641). | Curb &
Sidewalk Program - Seven (7) full-time personnel are budgeted along with a budget for part-time & seasonal workers. As the Common Council wanted to expand the program, three (3) Concrete
Finishers were added to the 2019 budget.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name MVH Restricted Fund Number 266
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 3,204,129 3,134,543 3,274,223 3,174,424 3,174,424 425,772 425,772 2,748,652 13%
Interest Earnings 9,704 23,921 39,874 13,724 13,724 5,858 5,858 7,867 43%
Interfund Transfers In - - - 200,000 200,000 - - 200,000 0%
Debt Proceeds - 888,007 - - - - - - -
Total Revenue 3,213,833 4,046,471 3,314,097 3,388,148 3,388,148 431,629 431,629 2,956,519 13%
Expenditures by Type
Personnel
Salaries & Wages 247,754 255,141 399,253 506,857 506,857 - - - 506,857 0%
Fringe Benefits 110,873 124,031 183,370 162,914 162,914 - - - 162,914 0%
Total Personnel 358,626 379,172 582,623 669,771 669,771 - - - 669,771 0%
Supplies 1,099,093 2,107,582 1,386,353 1,381,999 1,387,531 13,033 16,086 29,119 1,358,412 2%
Services & Charges
Professional Services 249,700 - - - - - - - - -
Repairs & Maintenance 568,445 1,376,423 1,592,715 387,768 1,108,640 2,213 970,872 973,085 135,555 88%
Debt Service Principal - 91,621 169,814 173,826 173,826 86,406 - 86,406 87,420 50%
Debt Service Interest & Fees - 2,144 17,716 13,703 13,703 7,359 - 7,359 6,344 54%
Total Services & Charges 818,145 1,470,187 1,780,244 575,297 1,296,169 95,977 970,872 1,066,849 229,319 82%
Capital 15,800 184,116 662,791 - - - - - - -
Total Expenditures 2,291,664 4,141,058 4,412,010 2,627,067 3,353,471 109,010 986,958 1,095,968 2,257,502 33%
Net Surplus / (Deficit) 922,169 (94,586) (1,097,914) 761,081 34,677 322,619 (664,339)
Beginning Cash Balance 2,042,332 1,126,297 2,042,332 2,042,332
Cash Adjustments (1,838,205) 1,010,622 1,026,651 -
Ending Cash Balance 1,126,297 2,042,332 1,971,069 2,077,010 1,183,199
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:=SUMIF(TableCashBalanceByFund[Fund],R9C13,TableCashBalanceByFund[12/31/2021])
The MVH Restricted Fund was established in 2019 due to a directive from the Indiana State Board of Accounts:
Starting on January 1, 2019, the political subdivision must post at the time of receipt of the distribution from the State Motor Vehicle Highway Account fifty percent (50%) of the distribution to MVH
Restricted. The political subdivision, by ordinance or resolution, may elect to allocate more than fifty percent (50%) of the distributions to MVH Restricted. During the same fiscal year, the political
subdivision may transfer, by ordinance or resolution, the amount allocated in excess of the 50% requirement from MVH Restricted to MVH. In no event can any transfers from MVH Restricted to
MVH reduce the fiscal year distributions from the State Motor Vehicle Highway Account below the 50% requirement for MVH Restricted.
Any amounts allocated in excess of the required 50% of distributions which remain in MVH Restricted at the end of the fiscal year must remain in MVH Restricted until expended for construction,
reconstruction, or preservation.
This fund receives 50% of the City's gas tax and wheel tax distribution from the State of Indiana. Gas tax revenue is distributed monthly by the State and is based on a complex formula, developed by
the State, which takes into account population, road and street mileage and other factors. Wheel tax is collected by the Indiana Bureau of Motor Vehicles, remitted to the County, and distributed
monthly to the local units based on population and road miles. This fund also receives revenue from interest earned on the fund's cash balance.
Qualified Expenditures: Effective July 1, 2018, Indiana Code 8-14-1-4(b) and Indiana Code 8-14-1-5(c) requires at least 50% of the MVH distributions to be used for construction, reconstruction
and preservation of the unit’s highways. Maintenance expenditures do not count toward the 50% requirement.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 6,408,258 6,269,085 6,548,446 6,348,848 6,348,848 851,544 851,544 5,497,304 13%
Intergov./ Grants 123,272 - - - - - - - -
Licenses & Permits 1,975 2,175 2,725 1,500 1,500 150 150 1,350 10%
Charges for Services 224,847 112,415 89,847 165,300 165,300 5,919 5,919 159,381 4%
Interest Earnings 33,222 75,958 130,728 36,141 36,141 27,004 27,004 9,138 75%
Debt Proceeds 890,000 1,705,507 2,235,000 2,670,000 2,670,000 - - 2,670,000 0%
Other Income 41,861 44,405 107,157 29,500 29,500 18,752 18,752 10,748 64%
Interfund Allocation Reimb 150,163 187,963 162,650 167,318 167,318 27,886 27,886 139,432 17%
Interfund Transfers In 3,500,000 5,550,000 5,087,500 10,200,000 10,200,000 1,233,333 1,233,333 8,966,667 12%
Total Revenue 11,373,598 13,947,509 14,364,052 19,618,607 19,618,607 2,164,589 2,164,589 17,454,020 11%
Expenditures by Fund
Motor Vehicle Highway (#202) 9,972,287 8,820,729 10,677,672 16,820,084 19,385,841 2,269,215 3,190,359 5,459,573 13,926,267 28%
MVH Restricted (#266) 2,291,664 4,141,058 4,412,010 2,627,067 3,353,471 109,010 986,958 1,095,968 2,257,503 33%
Total Expenditures 12,263,951 12,961,787 15,089,683 19,447,151 22,739,312 2,378,225 4,177,317 6,555,541 16,183,770 29%
Expenditures by Activity
Streets / Traffic & Lighting 10,943,687 11,454,763 13,195,713 16,535,484 19,341,783 2,081,218 3,831,796 5,913,014 13,428,770 31%
Curb & Sidewalk Program 1,320,264 1,507,024 1,893,969 2,911,667 3,397,528 297,006 345,521 642,528 2,755,001 19%
Total Expenditures 12,263,951 12,961,787 15,089,683 19,447,151 22,739,312 2,378,225 4,177,317 6,555,541 16,183,771 29%
Expenditures by Type
Personnel
Salaries & Wages 3,074,589 3,179,336 3,585,728 4,307,760 4,307,760 641,888 - 641,888 3,665,872 15%
Fringe Benefits 1,279,038 1,327,859 1,481,006 1,875,961 1,875,961 290,486 - 290,486 1,585,475 15%
Total Personnel 4,353,627 4,507,195 5,066,734 6,183,721 6,183,721 932,374 - 932,374 5,251,347 15%
Supplies 1,997,807 2,962,061 2,532,798 2,997,390 3,200,598 210,848 150,503 361,351 2,839,247 11%
Services & Charges
Professional Services 639,109 636,199 866,929 1,745,000 2,222,662 157,215 328,611 485,826 1,736,836 22%
Printing & Advertising 771 2,422 1,810 2,950 2,950 149 - 149 2,801 5%
Utilities 41,299 44,781 47,159 64,770 64,770 6,758 - 6,758 58,012 10%
Repairs & Maintenance 1,205,803 2,078,298 1,939,212 1,372,276 2,094,720 234,201 974,292 1,208,493 886,227 58%
Education & Training 2,845 8,291 11,555 30,000 30,050 1,814 - 1,814 28,236 6%
Travel - 5,135 803 25,000 25,000 - 6,953 6,953 18,047 28%
Other Services & Charges 102,368 27,988 138,852 156,620 159,120 282 3,535 3,817 155,303 2%
Debt Service Principal 874,648 982,660 1,282,926 1,643,197 1,643,197 433,771 - 433,771 1,209,426 26%
Debt Service Interest & Fees 39,036 37,072 62,855 214,756 214,756 20,750 - 20,750 194,006 10%
Total Services & Charges 2,905,881 3,822,847 4,352,101 5,254,569 6,457,224 854,939 1,313,391 2,168,330 4,288,894 34%
Operating Expenditures 9,257,315 11,292,103 11,951,633 14,435,680 15,841,544 1,998,162 1,463,894 3,462,056 12,379,488 22%
Capital 1,586,880 340,102 1,729,951 3,416,085 5,302,382 112,655 2,713,423 2,826,078 2,476,304 53%
Bad Debt - - - - - - - - - -
Interfund Allocations 1,419,756 1,329,582 1,408,098 1,595,386 1,595,386 267,408 - 267,408 1,327,978 17%
Total Expenditures 12,263,951 12,961,787 15,089,683 19,447,151 22,739,312 2,378,225 4,177,317 6,555,541 16,183,770 29%
Net Surplus / (Deficit) - 985,722 (725,631) 171,456 (3,120,704) (213,636) (4,390,952)
Beginning Cash Balance 6,814,748 7,734,117 6,814,748 6,814,748
Cash Adjustments 919,369 (1,905,091) 1,760,304 -
Ending Cash Balance 7,734,117 6,814,748 7,849,421 3,694,043 6,901,644
Motor Vehicle Highway Budget Summary - Fund 202 & 266
This summary shows the combined Motor Vehicle Highway (MVH) Fund and MVH Restricted Fund. These funds account for a portion of the Streets & Sewers Division's operations including:
Streets, Traffic & Lighting, and Curb & Sidewalk. Streets & Sewers is a division of the Department of Public Works.
For the purposes of reporting to the State of Indiana, these funds are combined; however, their accounting must be kept separate based on the directive put forth by the Indiana State Board of
Accounts:
Starting on January 1, 2019, the political subdivision must post at the time of receipt of the distribution from the State Motor Vehicle Highway Account fifty percent (50%) of the distribution to MVH
Restricted. The political subdivision, by ordinance or resolution, may elect to allocate more than fifty percent (50%) of the distributions to MVH Restricted. During the same fiscal year, the political
subdivision may transfer, by ordinance or resolution, the amount allocated in excess of the 50% requirement from MVH Restricted to MVH. In no event can any transfers from MVH Restricted to
MVH reduce the fiscal year distributions from the State Motor Vehicle Highway Account below the 50% requirement for MVH Restricted.
Any amounts allocated in excess of the required 50% of distributions which remain in MVH Restricted at the end of the fiscal year must remain in MVH Restricted until expended for construction,
reconstruction, or preservation.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Local Road & Street Fund Number 251
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 1,939,498 2,003,475 2,040,961 1,952,634 1,952,634 341,239 341,239 1,611,395 17%
Intergov./ Grants 670,528 145,348 205,355 115,000 115,000 178,968 178,968 (63,968) 156%
Interest Earnings 18,850 34,259 74,193 40,156 40,156 7,970 7,970 32,186 20%
Other Income - 10,510 - - - - - - -
Interfund Transfers In - - - 4,000,000 4,000,000 - - 4,000,000 0%
Total Revenue 2,628,875 2,193,593 2,320,509 6,107,790 6,107,790 528,177 528,177 5,579,613 9%
Expenditures by Type
Supplies 367,364 57,542 347,256 400,000 400,000 - - - 400,000 0%
Services & Charges
Professional Services 459,207 690,622 524,598 250,000 940,352 82,914 780,436 863,351 77,001 92%
Repairs & Maintenance 534,977 125,774 1,717,103 400,000 2,033,503 370,643 1,167,210 1,537,853 495,650 76%
Other Services & Charges 8,202 - - - - - - - - -
Total Services & Charges 1,002,386 816,396 2,241,701 650,000 2,973,855 453,558 1,947,646 2,401,204 572,651 81%
Capital 543,198 303,138 783,787 400,000 715,085 18,777 399,312 418,089 296,995 58%
Interfund Transfers Out 2,000,000 1,000,000 - 1,000,000 1,000,000 - - - 1,000,000 0%
Total Expenditures 3,912,948 2,177,076 3,372,745 2,450,000 5,088,939 472,334 2,346,958 2,819,293 2,269,646 55%
Net Surplus / (Deficit) (1,284,072) 16,517 (1,052,235) 3,657,790 1,018,850 55,843 (2,291,116)
Beginning Cash Balance 2,349,376 3,632,884 2,349,376 2,349,376
Cash Adjustments 2,567,579 (1,300,024) 1,082,944 -
Ending Cash Balance 3,632,884 2,349,376 2,380,085 3,368,227 1,366,700
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund is used to track expenditures for road projects managed by the Engineering division of the Department of Public Works.
Per Indiana Code Section 8-14-2-5, this fund "shall be used exclusively by the cities, towns, and counties for: engineering, land acquisition, construction, resurfacing, maintenance, restoration, or
rehabilitation of both local and arterial road and street systems; the payment of principal and interest on bonds sold primarily to finance road, street, or thoroughfare projects; any local costs required
to undertake a recreational or reservoir road project under IC 8-23-5; or the purchase, rental, or repair of highway equipment."
This fund receives gas taxes from the State of Indiana as its primary revenue source. Gas tax revenue is distributed monthly by the State and is based on a complex formula, developed by the State,
which takes into account population, road and street mileage and other factors. Gas tax is forecasted conservatively given the changes in the State's distribution formula. This fund also receives
revenue from interest earned on the fund's cash balance. Grants/Intergovernmental revenue is provided by the Indiana Department of Transportation (INDOT) and reimbursed through progress
billing for state approved projects. In 2019, $2.5 million was transferred from the Local Income Tax Economic Development Fund (#408) to cover the cost of 20% local match for the Bendix Drive
Pavement Replacement Project.
Expenditures in this fund are for general street maintenance, traffic calming, outsourced paving, and traffic signal maintenance. Expenditures are based on the revenues received. There is no cash
reserve requirement as this is a capital fund so it is spent down on capital projects.
In 2021, the City issued an infrastructure bond to fund city-wide street improvements. As a result, some of the outsourced paving expenses typically budgeted for in this fund were moved to the 2021
Infrastructure Bond Capital Fund (#455).
This fund supports a 50/50 matching grant (Community Crossings), funding $1,000,000 as the matching portion as an Interfund transfer to the Local Road & Bridge Grant Fund (#265). The transfer
from this fund was suspended in 2021 and the matching portion was covered by the 2021 Infrastructure Bond Capital Fund (#455) and this fund transferred $2 million to the Motor Vehicle Highway
Fund (#202). In 2022, this fund will resume the $1 million matching transfer to Fund #265.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name LOIT Special Distribution Fund Number 257
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants - - - - - - - - -
Interest Earnings 1,469 3,417 3,388 42 42 395 395 (353) 951%
Other Income 1,500 - - - - - - - -
Total Revenue 2,969 3,417 3,388 42 42 395 395 (353) 951%
Expenditures by Type
Services & Charges
Professional Services 3,762 - 184,782 - 1,501 - 1,501 1,501 - 100%
Total Services & Charges 3,762 - 184,782 - 1,501 - 1,501 1,501 - 100%
Capital 20,166 - 4,314 - 52,636 - - - 52,636 0%
Total Expenditures 23,927 - 189,096 - 54,136 - 1,501 1,501 52,636 3%
Net Surplus / (Deficit) (20,958) 3,417 (185,709) 42 (54,095) 395 (1,106)
Beginning Cash Balance 245,630 266,588 245,630 245,630
Cash Adjustments 41,916 (24,375) 188,321 -
Ending Cash Balance 266,588 245,630 248,243 191,536 63,556
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established in 2016, per the Indiana State Board of Accounts (SBOA), to receive a one-time payment of local income taxes from the State for the purpose of infrastructure expenditures.
Per the state statute (Senate Enrolled Act 67), a minimum of 75% must be spent on infrastructure projects. A total of $4,217,549, representing 75% of the total distribution, was deposited in May
2016, comprised of $4,160,901 distributed to the City and $56,648 distributed to the Redevelopment Authority. The remainder was deposited into the Rainy Day Fund (#102).
Based on the fund purpose listed above, the one-time payment of local income tax received for infrastructure improvements has been expended and therefore this fund is slated to be inactivated once
all funds are spent.
The City continues to use this cash to help fund infrastructure projects. The fund should be spent down in the next year or so. Projects are managed by the Engineering division of the Department of
Public Works.
Cash Reserves Target
No reserve requirement - one-time
distribution - spend down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Local Road & Bridge Grant Fund Number 265
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 791,072 1,350,100 1,000,000 1,000,000 1,000,000 - - 1,000,000 0%
Interest Earnings 4,832 23,684 50,707 7,369 7,369 2,583 2,583 4,785 35%
Other Income - - - - - - - - -
Interfund Transfers In 1,000,000 1,000,000 - 1,000,000 1,000,000 - - 1,000,000 0%
Total Revenue 1,795,904 2,373,784 1,050,707 2,007,369 2,007,369 2,583 2,583 2,004,785 0%
Expenditures by Type
Services & Charges
Repairs & Maintenance 2,482,521 594,751 3,105,996 2,000,000 2,222,695 - 1,323,637 1,323,637 899,058 60%
Other Services & Charges - - - - - - - - - -
Total Services & Charges 2,482,521 594,751 3,105,996 2,000,000 2,222,695 - 1,323,637 1,323,637 899,058 60%
Capital - - - - - - - - - -
Total Expenditures 2,482,521 594,751 3,105,996 2,000,000 2,222,695 - 1,323,637 1,323,637 899,058 60%
Net Surplus / (Deficit) (686,618) 1,779,033 (2,055,289) 7,369 (215,327) 2,583 (1,321,054)
Beginning Cash Balance 704,875 1,391,493 704,875 704,875
Cash Adjustments 1,373,235 (2,465,650) 3,827,468 -
Ending Cash Balance 1,391,493 704,875 2,477,054 489,548 430,603
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10486-16) to account for the receipt of the Community Crossings state grant and matching revenue (50/50) and for the payment of expenditures on eligible
projects, per the Indiana State Board of Accounts (SBOA).
Community Crossings is a partnership between the Indiana Department of Transportation (INDOT) and Hoosier communities, both urban and rural, to invest in infrastructure projects that catalyze
economic development, create jobs, and strengthen local transportation networks. The City is seeking $1 million in grant funding each year.
In February 2017, the City received its first Community Crossings matching grant from INDOT for $1 million.
The City's matching portion is covered by interfund transfers from other City funds. The transfers have come from the following funds: 2017 - $1 million - LOIT 2016 Special Distribution Fund
(#257) | 2018 - $670,000 - LOIT 2016 Special Distribution Fund (#257) | 2019 - $553,253 - Local Road & Street Fund (#251) | 2020 - $1 million - Local Road & Street Fund (#251), $522,365 -
Major Moves Construction Fund (#412) | 2021 - $1 million - 2021 Infrastructure Bonds Fund (#455) | 2022 - $1 million - Local Road & Street Fund (#251)
This fund also receives revenue from interest earned on the fund's cash balance.
Expenditures are calculated on anticipated grant proceeds, plus the City's matching portion funded by Local Road & Street Fund (#251). The Community Crossings Matching Grant project includes
pavement reconstruction - asphalt milling and resurfacing and curb ramps. Projects are managed by the Engineering division of the Department of Public Works.
Cash Reserves Target
No reserve requirement - Grant fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Major Moves Construction Fund Number 412
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 84,756 32,517 238,248 - - 9,705 9,705 (9,705) -
Interest Earnings 9,556 26,999 53,463 1,500 1,500 9,592 9,592 (8,093) 640%
Other Income 493,328 493,328 493,328 138,514 138,514 78,068 78,068 60,446 56%
Interfund Transfers In - - - 150,000 150,000 - - 150,000 0%
Total Revenue 587,639 552,844 785,039 290,014 290,014 97,366 97,366 192,648 34%
Expenditures by Type
Supplies - - 628,041 350,000 350,002 - - - 350,002 0%
Services & Charges
Professional Services 57,027 217,156 97,521 200,000 596,861 28,044 338,893 366,936 229,925 61%
Repairs & Maintenance - 450,000 - - - - - - - -
Total Services & Charges 57,027 667,156 97,521 200,000 596,861 28,044 338,893 366,936 229,925 61%
Capital 27,855 196,985 33,493 300,000 760,770 - 452,438 452,438 308,333 59%
Interfund Transfers Out - - - - - - - - - -
Total Expenditures 84,882 864,141 759,056 850,000 1,707,634 28,044 791,330 819,374 888,260 48%
Net Surplus / (Deficit) 502,758 (311,297) 25,983 (559,986) (1,417,620) 69,322 (722,008)
Beginning Cash Balance 1,889,193 1,386,436 1,889,193 1,889,193
Cash Adjustments (1,005,515) 814,055 (342,876) -
Ending Cash Balance 1,386,436 1,889,193 1,572,300 471,574 1,671,574
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established in 2006 with the City's share of the proceeds for the lease of the Indiana Toll Road (I-80/90). The fund is used to finance capital improvements projects managed by the
Engineering division of the Department of Public Works.
Per Indiana Code Section 8-14-16-5, “money in the fund may be expended only for the following purposes: (1) Construction of highways, roads, and bridges; (2) In a county that is a member of the
northwest Indiana regional development authority, or in a city or town located in such a county, any purpose for which the regional development authority may make expenditures under IC 36-7.5; (3)
Providing funding for economic development projects (as defined in IC 6-3.5-7-13.1(c)(1) or IC 6-3.5-7-13.1(c)(2)(A) through IC 6-3.5-7-13.1(c)(2)(K)); (4) Matching federal grants for a purpose
described in this section; (5) Providing funding for interlocal agreements under IC 36-1-7 for a purpose described in this section; (6) Providing the county's, city's, or town's contribution to a regional
development authority established under IC 36-7.6-2-3.”
This fund receives principal and interest income from interfund loans (debt schedules #84 & #85) being repaid by the River East Residential TIF Fund (#436). The loans will be paid off in 2024 and
2029. This fund also receives revenue from interest earned on the fund's cash balance.
Since the original funding for Major Moves was realized in 2006 from the lease proceeds of the Indiana Toll Road and the interfund loans will eventually be paid off, there will be no funding source
remaining by 2029. At that time, this fund will be spent down to zero.
For 2021, $450,000 was budgeted for the Streets Division to use for street paving materials. In 2022, internal street paving materials decreased to $350,000. Budgeted for 2022 is $450,000 for
Contracted Paving - as part of the City's Rebuilding our Streets Initiative. Also funded in 2022 is $200,000 Flashing Beacon and $300,000 Guardrail Installation.
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2021 Infrastructure Bond Capital Fund Number 455
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 21,221 37,031 48,402 - - 4,977 4,977 (4,977) -
Interfund Transfers In 8,601,026 - - - - - - - -
Total Revenue 8,622,248 37,031 48,402 - - 4,977 4,977 (4,977) -
Expenditures by Type
Capital 3,785,766 1,761,110 1,236,390 - 723,498 204,135 519,115 723,250 248 100%
Interfund Transfers Out 1,000,000 - - - - - - - - -
Total Expenditures 4,785,766 1,761,110 1,236,390 - 723,498 204,135 519,115 723,250 248 100%
Net Surplus / (Deficit) 3,836,482 (1,724,079) (1,187,989) - (723,498) (199,158) (718,273)
Beginning Cash Balance 3,836,482 - 3,836,482 3,836,482
Cash Adjustments (7,672,963) 5,560,561 (346,483) -
Ending Cash Balance - 3,836,482 2,302,010 3,112,984 723,358
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Bond capital fund -
spend down to zero
This fund was established to track the expenditures of the proceeds from the LIT Lease Rental Revenue Bonds, Series 2021. The bonds were issued to fund street and neighborhood infrastructure
projects. The bonds were secured with local income tax funding and are being repaid by the Local Income Tax Economic Development Fund (#408). Payment of debt service principal and interest to
the bondholders is recorded in the Building Corporation Fund (#755).
The bonds were closed on May 12, 2021 with a par amount of $7,610,000 and a premium of $1,250,022, a total of $8,860,022. The bonds have a net interest rate of 3.4%. The bond proceeds and cost
of issuance were accounted for in the Building Corporation Fund (#755). The net amount of $8,601,026 was transferred from Fund #755 to this bond capital fund to be used towards the approved
The bonds proceeds will be spent towards improving the City's neighborhoods through street and infrastructure improvements. In 2021, $1,000,000 was transferred to the Local Road & Bridge Grant
Fund (#265) as the City's match portion for the Community Crossings state matching grant from the Indiana Department of Transportation (INDOT). In 2022, the Local Road & Street Fund (#251)
will resume the matching transfer.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Solid Waste Operations Fund Number 610
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 6,092,214 6,909,550 7,622,504 7,880,920 7,880,920 1,174,671 1,174,671 6,706,249 15%
Intergov./ Grants - 7,410 8,636 - - - - - -
Interest Earnings 781 3,406 8,323 7,677 7,677 5,418 5,418 2,258 71%
Other Income 49,951 63,306 18,231 45,000 45,000 49 49 44,951 0%
Interfund Transfers In 1,796,371 263,687 527,035 - - - - - -
Total Revenue 7,939,316 7,247,359 8,184,729 7,933,597 7,933,597 1,180,138 1,180,138 6,753,458 15%
Expenditures by Type
Personnel
Salaries & Wages 1,116,262 1,223,746 1,265,563 1,382,125 1,382,125 205,646 - 205,646 1,176,479 15%
Fringe Benefits 450,803 478,575 526,275 693,522 693,522 97,610 - 97,610 595,912 14%
Total Personnel 1,567,066 1,702,321 1,791,838 2,075,647 2,075,647 303,256 - 303,256 1,772,391 15%
Supplies 314,035 434,548 306,830 553,468 553,468 26,605 24,900 51,505 501,964 9%
Services & Charges
Printing & Advertising 4,106 13,059 12,003 5,865 18,236 - 500 500 17,736 3%
Repairs & Maintenance 1,249,530 1,844,161 1,893,174 1,168,408 1,168,408 247,116 - 247,116 921,292 21%
Education & Training 17,160 180 4,068 20,000 20,000 132 - 132 19,868 1%
Travel - - - 9,900 9,900 - - - 9,900 0%
Other Services & Charges 1,126,780 1,085,570 1,127,500 1,344,384 1,444,660 216,753 1,163,617 1,380,370 64,290 96%
Debt Service Principal 250,000 - - - - - - - - -
Total Services & Charges 2,647,575 2,942,970 3,036,744 2,548,557 2,661,204 464,002 1,164,117 1,628,119 1,033,086 61%
Operating Expenditures 4,528,676 5,079,840 5,135,412 5,177,672 5,290,319 793,862 1,189,017 1,982,879 3,307,441 37%
Bad Debt 24,584 670,719 219,772 62,273 171,308 65,303 - 65,303 106,005 38%
Interfund
Interfund Allocations 1,185,129 1,187,501 1,361,480 1,476,423 1,476,423 246,652 - 246,652 1,229,771 17%
Interfund Transfers Out 867,967 981,664 899,690 1,109,379 1,109,379 933,000 - 933,000 176,379 84%
Total Interfund 2,053,096 2,169,165 2,261,170 2,585,802 2,585,802 1,179,652 - 1,179,652 1,406,150 46%
Total Expenditures 6,606,356 7,919,724 7,616,354 7,825,747 8,047,429 2,038,816 1,189,017 3,227,834 4,819,596 40%
Beginning Cash Balance 906,471 87,032 906,471 906,471
Cash Adjustments (2,152,398) 1,491,803 (1,180,013) -
Ending Cash Balance 87,032 906,471 294,832 792,638 73,944
Cash Reserves Target 660,636 791,972 761,635 804,743
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This fund was established to account for the operations of the Solid Waste Division of the Department of Public Works. Solid Waste provides weekly trash collection service. Additional services
available to residents include trash extra bulky collection, weekly yard waste collection, yard waste extra bulky collection, and Christmas tree collection.
This fund is funded by charging City residents a monthly fee for pick-up and disposal of trash at an area landfill/transfer station and recycling centers. The most recent rate increases were in 2008
(ordinance no. 9861-08), 2017 (ordinance no. 10400-15), and 2021 (ordinance no. 10797-21).
At the end of 2020, the Common Council approved an interfund loan from the Sewage Works Operations Fund (#641) to this fund in order to ensure the cash balance was not negative at year-end.
The loan was repaid June 30, 2021.
Personnel - The personnel budget includes the wages and benefits for twenty-five (25) full-time employees and a small budget for one (1) part-time employee. Rates for drivers have gone up
significantly. | Supplies - The supplies budget includes fuel for the trash trucks, trash and yard waste totes, uniforms, and other small operating supplies. | Services - The repair & maintenance
budget includes R&M for the trash trucks. The majority of the budget for other charges & services is for landfill costs (approx. $1.2 million budgeted for 2022). Landfill costs have continued to
increase as the volume of trash collected rises year after year. However, the City does not charge residents based on the volume of trash picked up so there is no additional revenue to help offset the
increased costs. The City will continue to look for ways to be more efficient and/or raise more revenue. | Capital - Solid Waste's capital needs are tracked in a separate capital fund (#611). Funds are
transferred to capital fund as needed for the payment of debt service payments for capital leases. The City purchases new trash trucks through 5-year capital leases.
Cash Reserves Target
10% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Solid Waste Capital Fund Number 611
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 34 1,516 5,297 - - 1,556 1,556 (1,556) -
Debt Proceeds 758,270 1,559,726 1,225,000 2,200,000 2,200,000 - - 2,200,000 0%
Interfund Transfers In 867,967 981,664 899,690 1,109,379 1,109,379 933,000 933,000 176,379 84%
Total Revenue 1,626,271 2,542,907 2,129,987 3,309,379 3,309,379 934,556 934,556 2,374,823 28%
Expenditures by Type
Services & Charges
Debt Service Principal 843,122 950,448 928,231 1,015,873 1,015,873 265,061 - 265,061 750,812 26%
Debt Service Interest & Fees 37,977 31,216 48,912 93,507 93,507 15,991 - 15,991 77,516 17%
Total Services & Charges 881,100 981,664 977,143 1,109,379 1,109,379 281,052 - 281,052 828,328 25%
Capital 354,135 758,270 - 2,200,000 5,080,335 856,484 3,445,051 4,301,535 778,800 85%
Total Expenditures 1,235,235 1,739,934 977,143 3,309,379 6,189,714 1,137,536 3,445,051 4,582,587 1,607,128 74%
Net Surplus / (Deficit) 391,036 802,972 1,152,844 - (2,880,335) (202,980) (3,648,031)
Beginning Cash Balance 779,163 388,126 779,163 779,163
Cash Adjustments (782,073) (411,936) (349,980) -
Ending Cash Balance 388,126 779,163 1,582,027 (2,101,172) 2,531,891
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to account for capital expenditures and debt service related to the Solid Waste Division of the Department of Public Works. Some equipment is purchased through capital
leases which are paid off over 5 years.
This fund receives interfund transfers from the Solid Waste Operations Fund (#610) to cover expenditures as needed. Debt proceeds are from capital leases. The funds are held by an escrow agent
Over the next five years, Solid Waste plans to replace older trucks with side-load dedicated units, replacing about two trucks a year. These trucks will be purchased with capital lease proceeds. The
principal and interest expense budgeted is for capital lease payments for the trucks.
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Water Works Operations Fund Number 620
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 19,423,624 19,141,578 19,884,402 21,693,109 21,693,109 2,860,121 2,860,121 18,832,988 13%
Interest Earnings 28,409 95,051 187,240 83,583 83,583 49,289 49,289 34,294 59%
Other Income 23,582 41,395 510,566 18,055 18,055 413 413 17,642 2%
Interfund Allocation Reimb 1,856,424 1,414,701 1,633,074 1,652,888 1,652,888 275,481 275,481 1,377,407 17%
Interfund Transfers In 656,984 294,627 134,865 - - - - - -
Total Revenue 21,989,022 20,987,352 22,350,147 23,447,635 23,447,635 3,185,304 3,185,304 20,262,331 14%
Total Expenditures 19,681,182 23,078,188 19,134,577 23,362,337 24,409,097 3,423,263 1,092,590 4,515,853 19,893,244 19%
Expenditures by Type
Personnel
Salaries & Wages 3,192,897 3,497,540 3,777,318 4,085,437 4,085,437 584,363 - 584,363 3,501,074 14%
Fringe Benefits 1,353,254 1,503,528 1,515,511 1,890,984 1,890,984 253,307 - 253,307 1,637,676 13%
Total Personnel 4,546,151 5,001,068 5,292,830 5,976,421 5,976,421 837,670 - 837,670 5,138,750 14%
Supplies 1,039,704 1,604,334 1,598,311 2,203,203 2,535,144 327,879 191,548 519,427 2,015,717 20%
Services & Charges
Professional Services 749,968 760,096 872,977 1,493,359 1,799,311 169,379 388,132 557,511 1,241,801 31%
Printing & Advertising 2,029 7,168 2,341 7,373 8,406 1,033 800 1,833 6,573 22%
Utilities 774,893 828,854 893,492 938,051 938,051 152,771 - 152,771 785,280 16%
Repairs & Maintenance 465,164 411,658 402,687 639,177 714,712 85,794 47,973 133,768 580,944 19%
Education & Training 20,142 15,517 22,722 36,704 39,624 1,817 2,920 4,737 34,887 12%
Travel - - 3,775 23,250 26,028 - 2,778 2,778 23,250 11%
Other Services & Charges 2,896,198 2,536,459 2,529,469 3,590,420 3,782,157 328,962 458,439 787,402 2,994,756 21%
Debt Service Principal 296,671 201,048 - - - - - - - -
Debt Service Interest & Fees 8,064 3,131 - - - - - - - -
Total Services & Charges 5,213,129 4,763,931 4,727,463 6,728,335 7,308,289 739,756 901,042 1,640,798 5,667,491 22%
Operating Expenditures 10,798,983 11,369,334 11,618,604 14,907,959 15,819,854 1,905,305 1,092,590 2,997,895 12,821,958 19%
Bad Debt 51,503 1,103,072 303,108 100,000 234,865 103,958 - 103,958 130,907 44%
Interfund
Interfund Allocations 2,267,793 2,342,714 2,856,398 3,559,703 3,559,703 594,701 - 594,701 2,965,002 17%
PILOT 1,611,201 1,613,639 1,606,468 1,638,597 1,638,597 819,299 - 819,299 819,299 50%
Interfund Transfers Out 4,951,702 6,649,430 2,750,000 3,156,078 3,156,078 - - - 3,156,078 0%
Total Interfund 8,830,696 10,605,783 7,212,866 8,354,378 8,354,378 1,414,000 - 1,414,000 6,940,379 17%
Total Expenditures 19,681,182 23,078,188 19,134,577 23,362,337 24,409,097 3,423,263 1,092,590 4,515,853 19,893,244 19%
6,550,457
Net Surplus / (Deficit) 2,307,840 (2,090,837) 3,215,570 85,299 (961,462) (237,959) (1,330,549)
Beginning Cash Balance 6,550,457 4,840,727 6,550,457 6,550,457
Cash Adjustments (4,017,570) 3,800,567 (5,007,244) -
Ending Cash Balance 4,840,727 6,550,457 4,758,783 5,588,995 7,952,742
Cash Reserves Target 984,059 1,153,909 956,729 1,220,455
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
Cash Reserves Target
5% of Annual expenditures
This fund was established to account for the revenues and operational expenses of the City-owned water utility. This fund also provides the monies for debt service obligations and capital
improvements through transfer of monies to other water utility funds. The water utility is run by the Water Works Division of the Department of Public Works. Water Works solely utilizes
groundwater to serve more than 112,000 customers. There are nine well fields which can produce water to be treated before making its way to homes and businesses via 550+ miles of water main.
Water Works staff regularly conducts thorough testing on the groundwater before, during and after treatment, as well as throughout the distribution system. Water being distributed meets or exceeds
all drinking water regulations.
The general source of the water utility's revenue comes from the water service that is provided to its customers. The last rate increase was approved in 2021 (ordinance no. 10797-21). The purpose of
the comprehensive rate adjustment is to provide a multi-year plan that meets the operational and capital needs of the utilities, gradually adjusting rates to generate sufficient cash flow. The increases are
based on recommendations of a comprehensive utility long-term rate plan commissioned by the City. Changes to water rates are subject to approval of the Indiana Utility Regulatory Commission
(IURC). Charges for services revenue forecast assumptions remain conservative. Other Income consists of reimbursements and other miscellaneous type sales. Interfund Allocation Reimbursement
consists of the Utility Customer Service Allocation, which allocates the operational costs of the customer service department to benefiting operations including Sewage Works (Fund #641), Solid
Waste (Fund #610), and Project ReLeaf (Fund #655); and the Payroll Cost Allocation, which allocates a portion of wages and benefits for positions that serve other divisions within the Department of
Public Works. This fund also receives interest earnings from the other water utility funds (#624, 625, 626 and 629) for interest earned on cash balances in those funds that is subsequently transferred to
this fund.
Operational expenditures include those incurred in operating source of supply and pumping facilities, treatment facilities and distribution facilities. In addition, customer service costs are related to
utility billing and collections. | Personnel - The personnel budget includes the wages and benefits for 68 full-time employees, and $86k for part-time and seasonal wages. | Supplies - The supplies
budget includes inventory such as replacement parts for water mains and hydrants, repair & maintenance materials, concrete supplies, water treatment chemicals, laboratory supplies, fuel for vehicles
and equipment, hardware supplies such as small tools & equipment, office supplies, and other small operating supplies. | Services - The repair & maintenance budget includes R&M for vehicles,
equipment, buildings, and minor water infrastructure repairs. The utilities budget includes the costs of electric, natural gas, and water for the Water Works Division's facilities and distribution sites.
Professional services include well cleaning, electrical services, large meter testing, evaluation studies, and more. Other charges & services includes $1.1 million for various services associated with the
utility's customer service billing and collections activities such as credit card processing fees, bill production and mailing, and utility billing software charges. Other charges and services also includes
$1.1 million for plumbing contractors for the Water Insurance Service Line Leak Program. | Debt service principal and interest payments are for capital leases used to purchase water meters. The
leases will be paid off in 2021 and 2022 (debt schedules #149 & #158). | Interfund Transfers Out include transfers to the Water Works Sinking Fund (#625) to fund debt service principal and
interest payments on bonds, transfers to the Water Works Capital Fund (#622) to fund capital expenditures, and transfers to the Water Works Operations & Maintenance (O&M) Reserve (Fund
#629). | Payment in lieu of taxes (PILOT) is transferred to the General Fund (#101). PILOT is calculated as 3% of the net book value of the Water Utility's capital assets. | Capital - Water Work's
capital needs are tracked in a separate capital fund (#622). Funds are transferred as needed to cover capital expenditures.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Water Works Capital Fund Number 622
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 171,959 251,905 (106,004) 210,000 210,000 5,146 5,146 204,854 2%
Interest Earnings 50,372 153,064 227,703 9,699 9,699 39,817 39,817 (30,117) 411%
Other Income 11,040 7,084 2,392 - - - - - -
Interfund Transfers In 3,373,000 3,971,704 - 400,000 400,000 - - 400,000 0%
Bond Proceeds - - - - - - - - -
Total Revenue 3,606,371 4,383,757 124,091 619,699 619,699 44,963 44,963 574,737 7%
Expenditures by Type
Services & Charges
Professional Services 22,740 42,253 132,973 - 467,551 97,650 369,900 467,551 - 100%
Total Services & Charges 22,740 42,253 132,973 - 467,551 97,650 369,900 467,551 - 100%
Capital 1,511,591 3,271,169 4,104,934 2,521,000 8,460,508 151,915 1,386,987 1,538,902 6,921,606 18%
Bad Debt (428) - - - - - - - - -
Total Expenditures 1,533,903 3,313,423 4,237,907 2,521,000 8,928,059 249,565 1,756,888 2,006,453 6,921,606 22%
Net Surplus / (Deficit) 2,072,468 1,070,334 (4,113,816) (1,901,301) (8,308,360) (204,603) (1,961,490)
Beginning Cash Balance 9,672,979 7,652,044 9,672,979 9,672,979
Cash Adjustments (4,093,402) 950,600 5,500,692 -
Ending Cash Balance 7,652,044 9,672,979 11,059,854 1,364,619 6,449,531
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
2023 Adopted Budget includes:
Equipment: $25,000
• (1) Trailer 20 ' Long for Dump Truck
Vehicles: $462,000
• (1) Tandem Axle Dump Truck - $275,000
• (2) Mini Cargo Vans - $66,000
• (1) Pickup Valve Truck - $65,000
• (2) Hybrid Vehicles - $56,000
Water Mains: $1,900,000
• New Main on Lathrop Street-Bendix Drive to
Portage Avenue - $888,000
• Water main, hydrant, and valve replacement -
$715,000
• New on Trail ROW-Dublin Street to Cripe
Street - $297,000
Water Meter Replacement - $4,000,000
System Renewal Projects- TBD - $2,500,000
Services for Capital Planning - $100,000
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
This fund was established to account for acquiring, constructing, and improving water utility capital assets. Water utility capital assets include wells, reservoirs, transmission and distribution mains,
This fund receives interfund transfers from the Water Works Operations Fund (#620) as needed to cover capital expenditures. This fund also receives revenue from a system development fee: a one-
time capital contribution charged to customers making a new connection to the water system.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Water Works Customer Deposit Fund Number 624
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 7,493 12,668 38,236 - - 8,145 8,145 (8,145) -
Total Revenue 7,493 12,668 38,236 - - 8,145 8,145 (8,145) -
Expenditures
Interfund Transfers Out 7,493 - - - - - - - - -
Total Expenditures 7,493 - - - - - - - - -
Net Surplus / (Deficit) - 12,668 38,236 - - 8,145 8,145
Beginning Cash Balance 1,279,314 1,263,319 1,279,314 1,279,314
Cash Adjustments (15,996) 3,328 (2,039) -
Ending Cash Balance 1,263,319 1,279,314 1,315,511 1,279,314 1,356,711
Cash Reserves Target 1,263,319 1,279,314 1,315,511 1,279,314
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to retain the security deposits collected from utility customers. Upon termination of service, the security deposited is refunded in the form of a credit to the customer's final
bill.
Historically, this fund received revenue from interest earned on the fund's cash balance. In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund
directly into Fund 620 rather than transferring it.
Historically, interest earned on this fund's cash balance was transferred to the Water Works Operations Fund (#620). In 2022, the City will change its interest earnings allocation methodology to
deposit interest earned by this fund directly into Fund 620 rather than transferring it.
Cash Reserves Target
100% cash reserves for customer deposits
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Water Works Sinking (Debt Service) Fund Number 625
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 2,818 18,171 54,408 - - 18,583 18,583 (18,583) -
Interfund Transfers In 1,508,702 2,662,430 2,750,000 2,756,078 2,756,078 - - 2,756,078 0%
Total Revenue 1,511,520 2,680,601 2,804,408 2,756,078 2,756,078 18,583 18,583 2,737,495 1%
Expenditures by Type
Services & Charges
Debt Service Principal 1,093,877 1,248,939 1,045,513 1,729,639 1,729,639 - - - 1,729,639 0%
Debt Service Interest & Fees 417,148 390,368 356,162 1,026,439 1,026,439 - - - 1,026,439 0%
Total Services & Charges 1,511,025 1,639,307 1,401,675 2,756,078 2,756,078 - - - 2,756,078 0%
Interfund Transfers Out 2,818 - - - - - - - - -
Total Expenditures 1,513,843 1,639,307 1,401,675 2,756,078 2,756,078 - - - 2,756,078 0%
Net Surplus / (Deficit) (2,323) 1,041,294 1,402,734 - - 18,583 18,583
Beginning Cash Balance - 2,323 - -
Cash Adjustments 4,647 (1,043,617) 871,054 -
Ending Cash Balance 2,323 - 2,273,787 - 2,461,473
Cash Reserves Target 2,323 - 2,273,787 -
Fund Purpose:
Explanation of Revenue Sources:
This fund was established to account for the payment of debt service obligations for Water Works, including bond principal and interest payments and paying agent fees.
This fund receives interfund transfers from the Water Works Operations Fund (#620) as needed to cover debt service obligations.
Historically, this fund received revenue from interest earned on the fund's cash balance. In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund
directly into Fund 620 rather than transferring it.
Current debt includes:
• 2012 Water Works Refunding Bonds, Refund 2002 - scheduled to retire on 1/1/23 with final payment being made in December 2022, (debt schedule #25)
• 2009 Water Works Improvements, State Revolving Fund - scheduled to retire on 1/1/30 with final payment being made in December 2029, (debt schedule #68)
• 2012 Water Works Revenue Bond - scheduled to retire on 1/1/33 with final payment being made in December 2032, (debt schedule #99)
• 2016 Water Works Refunding Bonds, Refund 2000 & 2006 - scheduled to retire on 1/1/27 with final payment being made in December 2026, (debt schedule #156)
• 2019 Amended Water Works Revenue Bonds of 2009, Series B - scheduled to retire on 1/1/30 with final payment being made in December 2029, (debt schedule #69)
Historically, interest earned on this fund's cash balance was transferred to the Water Works Operations Fund (#620). In 2022, the City will change its interest earnings allocation methodology to
deposit interest earned by this fund directly into Fund 620 rather than transferring it.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Water Works Bond Reserve Fund Number 626
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 8,191 13,836 42,407 - - 9,022 9,022 (9,022) -
Total Revenue 8,191 13,836 42,407 - - 9,022 9,022 (9,022) -
Expenditures
Interfund Transfers Out 8,188 - - - - - - - - -
Total Expenditures 8,188 - - - - - - - - -
Net Surplus / (Deficit) 4 13,836 42,407 - - 9,022 9,022
Beginning Cash Balance 1,422,804 1,422,800 1,422,804 1,422,804
Cash Adjustments (7) (13,832) (33,101) -
Ending Cash Balance 1,422,800 1,422,804 1,432,109 1,422,804 1,487,068
Cash Reserves Target 1,422,800 1,422,804 1,432,109 1,422,804
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to ensure compliance with certain debt service bond covenants. The required cash balance is determined by the debt service financing arrangements at the time of issuance.
The debt service reserve amount is used towards the last debt service payment.
Historically, this fund received revenue from interest earned on the fund's cash balance. In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund
directly into Fund 620 rather than transferring it.
Historically, excess interest earned on this fund's cash balance is transferred to the Water Works Operation Fund (#620). In 2022, the City will change its interest earnings allocation methodology to
deposit interest earned by this fund directly into Fund 620 rather than transferring it.
Cash Reserves Target
100% cash reserves per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Water Works Operations & Maintenance Reserve Fund Number 629
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 17,168 28,377 85,903 - - 18,349 18,349 (18,349) -
Interfund Transfers In - 15,296 - - - - - - -
Total Revenue 17,168 43,673 85,903 - - 18,349 18,349 (18,349) -
Expenditures
Interfund Transfers Out 17,168 - - - - - - - - -
Total Expenditures 17,168 - - - - - - - - -
Net Surplus / (Deficit) - 43,673 85,903 - - 18,349 18,349
Beginning Cash Balance 2,912,652 2,912,652 2,912,652 2,912,652
Cash Adjustments - (43,673) (51,780) -
Ending Cash Balance 2,912,652 2,912,652 2,946,775 2,912,652 3,058,469
Cash Reserves Target 2,455,404 2,738,674 3,542,878 3,542,878
Fund Purpose:
Explanation of Revenue Sources:
This fund was established to hold cash reserves equivalent to two months of budgeted operating expenses in the Water Works Operations Fund (#620). This serves as fiscal protection against the risk
of revenue shortfalls, emergencies, and other economic risks that may impact the water utility's ability to meet financial commitments.
If this fund's cash falls below the reserve requirement, the Water Works Operations Fund (#620) will transfer funds to increase the cash reserves.
Historically, this fund received revenue from interest earned on the fund's cash balance. In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund
directly into Fund 620 rather than transferring it.
Once this fund's cash balance met the reserve requirement, any excess interest earned was transferred to the Water Works Operations Fund (#620).
In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund directly into Fund 620 rather than transferring it.
Cash Reserves Target
16.67% of annual operating expenses in Fund
620, net of transfers
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Sewer Repair Insurance Fund Number 640
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 697,338 701,488 703,574 666,095 666,095 119,896 119,896 546,199 18%
Interest Earnings 12,053 27,093 54,170 32,799 32,799 10,890 10,890 21,909 33%
Other Income - - - - - - - - -
Interfund Transfers In - 48,167 6,390 - - - - - -
Total Revenue 709,391 776,748 764,134 698,894 698,894 130,786 130,786 568,108 19%
Expenditures by Type
Personnel
Salaries & Wages 119,441 119,081 130,097 140,722 140,722 20,444 - 20,444 120,278 15%
Fringe Benefits 52,566 55,024 55,746 61,953 61,953 9,636 - 9,636 52,317 16%
Total Personnel 172,007 174,105 185,844 202,675 202,675 30,080 - 30,080 172,595 15%
Supplies 34,659 42,321 40,016 81,490 81,490 7,828 22,288 30,115 51,375 37%
Services & Charges
Printing & Advertising - - - 200 200 - - - 200 0%
Repairs & Maintenance 422,857 474,934 589,860 651,103 666,863 84,014 171,306 255,320 411,542 38%
Other Services & Charges - - - - - - - - - -
Total Services & Charges 422,857 474,934 589,860 651,303 667,063 84,014 171,306 255,320 411,742 38%
Operating Expenditures 629,522 691,360 815,720 935,468 951,227 121,922 193,594 315,516 635,712 33%
Bad Debt 1,891 57,952 8,820 6,500 12,890 4,536 - 4,536 8,354 35%
Interfund Allocations 91,901 96,195 100,897 97,681 97,681 16,345 - 16,345 81,336 17%
Total Expenditures 723,314 845,507 925,437 1,039,649 1,061,798 142,804 193,594 336,398 725,402 32%
Net Surplus / (Deficit) (13,923) (68,759) (161,304) (340,755) (362,904) (12,017) (205,611)
Beginning Cash Balance 2,003,861 2,052,857 2,003,861 2,003,861
Cash Adjustments 62,919 19,763 109,406 -
Cash Reserves Target 180,829 211,377 231,359 265,450
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:=SUMIF(TableCashBalanceByFund[Fund],R9C13,TableCashBalanceByFund[12/31/2021])
This fund was established in 1980 (ordinance 6811-80) to account for the repair and/or replacement of private sewer connections. The Sewer Insurance program is funded by a monthly charge on City
residents' sewer bills. The City is responsible for the main sewer line; from the main line to the house is the homeowner's responsibility. This program helps residents who have an issue with their
lateral that cannot be resolved by a simple clean-out by a plumber, i.e., collapsed line, complete root infiltration, etc. that requires excavation work - a "dig". The program is set up so that the
homeowner pays a maximum $500 deductible toward the cost of the repair and the City pays the rest.
This fund collects a monthly charge on City residents' sewer bills. This fund also receives revenue from interest earned on the fund's cash balance.
Personnel - The personnel budget includes the wages and benefits for two (2) full-time employees. | Supplies - The supplies budget includes materials, uniforms, and other small operating supplies. |
Services - The repair & maintenance budget includes $400k for outside contracted work and $1,000 for R&M for equipment.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Sewage Works Operations Fund Number 641
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 38,772,010 40,319,532 42,187,751 41,732,688 41,732,688 6,960,277 6,960,277 34,772,411 17%
Interest Earnings 69,545 247,071 568,907 197,277 197,277 124,803 124,803 72,474 63%
Other Income 276,595 106,610 68,553 4,600 4,600 108,835 108,835 (104,235) 2366%
Interfund Allocation Reimb 449,895 463,761 461,751 403,429 403,429 67,238 67,238 336,191 17%
Interfund Transfers In 1,697,758 415,513 184,500 - - - - - -
Total Revenue 41,265,804 41,552,487 43,471,462 42,337,994 42,337,994 7,261,153 7,261,153 35,076,841 17%
Expenditures by Division
Sewers 6,803,434 7,807,448 7,048,829 7,574,714 7,803,414 1,116,582 88,692 1,205,274 6,598,140 15%
Concrete Crew 466,063 521,609 562,830 592,720 592,720 94,061 - 94,061 498,660 16%
Wastewater 29,353,258 32,097,845 28,653,161 36,870,058 38,925,118 5,325,438 1,902,307 7,227,746 31,697,372 19%
Organic Resources 1,326,459 1,506,046 1,167,251 1,605,991 1,660,490 277,806 135,069 412,875 1,247,615 25%
Total Expenditures 37,949,214 41,932,947 37,432,072 46,643,483 48,981,742 6,813,887 2,126,069 8,939,956 40,041,787 18%
Expenditures by Type
Personnel
Salaries & Wages 4,777,198 4,946,254 5,272,342 6,076,802 6,076,802 886,655 - 886,655 5,190,147 15%
Fringe Benefits 1,956,552 2,018,844 2,015,847 2,696,013 2,696,013 357,858 - 357,858 2,338,155 13%
Total Personnel 6,733,749 6,965,098 7,288,190 8,772,815 8,772,815 1,244,513 - 1,244,513 7,528,302 14%
Supplies 1,569,805 2,230,631 2,484,857 3,332,187 3,742,157 419,537 337,270 756,807 2,985,350 20%
Services & Charges
Professional Services 399,309 590,275 1,065,584 238,164 525,105 18,270 306,920 325,190 199,915 62%
Printing & Advertising 1,623 1,182 4,135 7,083 7,083 664 - 664 6,419 9%
Utilities 1,160,652 1,267,312 1,337,488 1,508,370 1,508,370 252,036 - 252,036 1,256,334 17%
Repairs & Maintenance 1,677,510 1,677,658 1,731,522 2,511,417 3,383,187 881,876 526,422 1,408,298 1,974,889 42%
Education & Training 15,176 20,869 34,832 68,623 70,200 1,226 14,646 15,872 54,328 23%
Travel 356 10,417 14,539 53,147 54,084 1,422 2,313 3,735 50,349 7%
Other Services & Charges 3,157,093 1,889,515 2,636,784 3,607,408 4,185,970 376,152 938,498 1,314,650 2,871,320 31%
Debt Service Principal 294,414 188,482 - - - - - - - -
Debt Service Interest & Fees 7,815 2,935 - - - - - - - -
Total Services & Charges 6,713,948 5,648,646 6,824,884 7,994,212 9,734,001 1,531,647 1,788,799 3,320,446 6,413,554 34%
Operating Expenditures 15,017,502 14,844,375 16,597,930 20,099,213 22,248,973 3,195,698 2,126,069 5,321,766 16,927,206 24%
Capital - 20,610 - - - - - - - -
Bad Debt 83,831 1,749,145 423,366 225,000 409,500 142,348 - 142,348 267,152 35%
Interfund
Interfund Allocations 6,312,945 6,081,041 6,148,303 7,136,712 7,140,712 1,195,576 - 1,195,576 5,945,136 17%
PILOT 4,543,120 4,465,686 4,489,126 4,385,589 4,385,589 2,217,311 - 2,217,311 2,168,279 51%
Interfund Transfers Out 11,991,816 14,772,089 9,773,347 14,796,969 14,796,969 62,954 - 62,954 14,734,015 0%
Total Interfund 22,847,881 25,318,816 20,410,776 26,319,270 26,323,270 3,475,841 - 3,475,841 22,847,430 13%
Total Expenditures 37,949,214 41,932,947 37,432,072 46,643,483 48,981,742 6,813,887 2,126,069 8,939,956 40,041,788 18%
Net Surplus / (Deficit) 3,316,590 (380,459) 6,039,390 (4,305,489) (6,643,748) 447,267 (1,678,802)
Beginning Cash Balance 13,825,371 11,466,153 13,825,371 13,825,371
Cash Adjustments 13,825,371 2,739,677 (6,043,699) -
Ending Cash Balance 11,466,153 13,825,371 13,821,063 7,181,623 20,784,950
Cash Reserves Target 1,897,461 2,096,647 1,871,604 2,449,087
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
Cash Reserves Target
5% of Annual expenditures
This fund was established to account for the operations of the following divisions of the Department of Public Works: Wastewater - Facilitates the collection, treatment, and disposal of wastewater.
Responsible for the operation of the treatment facility, which is a conventional activated sludge plant, the interceptor sewer system, the combined sewer overflow (CSO) system and the remote
sewage lift stations. | Sewers - Oversees the repair and maintenance of approximately 700 miles of sanitary sewer and storm drains. Along with the sanitary and storm lines, Sewers also maintains
around 10,000 catch basins, inlets, and drains. Maintenance of the sewer system is assisted by a vactor truck outfitted with a specialized camera system that enables real-time viewing of the inside of
the sewer lines. This allows for the identification of issues to be addressed before they become problems that can affect the public. Sewers also mows and upkeeps the City’s retention ponds. |
Organic Resources - Recycles collected yard waste, leaves, and brush for compost and mulch products.
This fund receives revenue from charges for utility services for the City's residents. The last rate increase was approved in 2021 (ordinance no. 10797-21). The purpose of the comprehensive rate
adjustment is to provide a multi-year plan that meets the operational and capital needs of the utilities, gradually adjusting rates to generate sufficient cash flow. The increases are based on
recommendations of a comprehensive utility long-term rate plan commissioned by the City. The ordinance also established the Utility Assistance Program (UAP), to provide discounts to qualifying
low-income customers. The program is funded by a monthly fee charged to all customers, starting out at $1.75 per month with the option to increase it gradually over the years to support the program
as needed. Interfund Allocation Reimbursement is the Payroll Cost Allocation, which allocates a portion of wages and benefits for positions that serve other divisions within the Department of Public
Works. These positions are allocated out to the following Public Works divisions: Streets (Fund #202), Water Works (Fund #620), Sewer Insurance (Fund #640), and Concrete Crew. This fund also
receives interest earnings from the other sewage works funds (#643 & 654) for interest earned on cash balances in those funds that is subsequently transferred to this fund.
Operational expenditures include those incurred in operating the wastewater treatment plant, maintaining the City's sewer system, and operating the Organic Resources facility which processes leaves,
brush, wood and other yard waste. | Personnel - The personnel budget includes the wages and benefits for 89 full-time employees, and $243k for part-time and seasonal wages. | Supplies - Includes
supplies needed to operate the wastewater treatment plant, such as water treatment chemicals, laboratory supplies, repair & maintenance materials, fuel for vehicles and equipment, hardware supplies
such as small tools & equipment, office supplies, and other small operating supplies. Also includes supplies for sewer repair & maintenance and the operations of Organic Resources. | Services - The
repair & maintenance budget includes R&M for vehicles, equipment, buildings, and minor sewer infrastructure repairs. The utilities budget includes the costs of electric, natural gas, and water for the
wastewater treatment plant facilities, organic resources, and 50% of the utilities costs for the Public Works Service Center (utilized by Sewers). The other 50% is paid for by the Streets division which
is budgeted in the Motor Vehicle Highway Fund (#202). Professional services include contract lab analysis and biomonitoring that cannot be completed in-house. Other charges & services includes
contractual services for main line repairs and engineering projects for storm/sanitary sewer system repair/rehab/stabilization. | Debt service principal and interest payments are for capital leases used
to purchase vehicles and equipment. The leases will be paid off in 2021 and 2022 (debt schedules #149, 152, 158, & 164). | Interfund Transfers Out include transfers to the Sewage Works Sinking
Fund (#649) to fund debt service payments on bonds and transfers to the Sewage Works Capital Fund (#642) to fund capital expenditures.| Payment in lieu of taxes (PILOT) is transferred to the
General Fund (#101). PILOT is calculated as 3% of the net book value of Sewage Works' capital assets. | Capital - Sewage Works' capital needs are tracked in a separate capital fund (#642). Funds
are transferred as needed to cover capital expenditures.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Sewage Works Capital Fund Number 642
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 539,730 106,734 340,467 339,000 339,000 14,076 14,076 324,924 4%
Interest Earnings 87,851 201,511 402,237 23,244 23,244 76,463 76,463 (53,219) 329%
Other Income 24,656 19,550 - - - - - - -
Interfund Transfers In 5,946,370 3,874,147 - 5,000,000 5,000,000 - - 5,000,000 0%
Bond Proceeds - - 32,150,000 - - - - - -
Total Revenue 6,598,607 4,201,942 32,892,704 5,362,244 5,362,244 90,539 - 90,539 5,271,705 2%
Expenditures by Type
Services & Charges
Professional Services - 18,900 1,105,955 500,000 814,968 6,375 308,593 314,968 500,000 61%
Total Services & Charges - 18,900 1,105,955 500,000 814,968 6,375 308,593 314,968 500,000 39%
Capital 6,048,729 3,300,931 2,311,537 7,788,474 19,228,412 169,782 3,719,940 3,889,722 15,338,690 20%
Bad Debt (1,031) - - - - - - - - -
Total Expenditures 6,047,698 3,319,831 3,417,492 8,288,474 20,043,380 176,157 4,028,533 4,204,690 15,838,690 21%
Net Surplus / (Deficit) 550,908 882,111 29,475,212 (2,926,230) (14,681,135) (85,618) (4,114,151)
Beginning Cash Balance 14,359,708 13,821,218 14,359,708 14,359,708
Cash Adjustments (1,089,399) (343,621) (43,834,920) -
Ending Cash Balance 13,821,218 14,359,708 - (321,428) 12,632,812
Cash Reserves Target - - -
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to account for the purchase of capital equipment and to fund major renovations/restorations for the following divisions of the Department of Public Works: Wastewater,
Sewers, Organic Resources, and Concrete Crew.
This fund receives interfund transfers from the Sewage Works Operations Fund (#641) as needed to cover capital expenditures. This fund also receives revenue from a system development fee: a one-
time capital contribution charged to customers making a new connection to the water system. Additionally, this fund receives revenue from the selling of RINs (renewable identification numbers)
credits that are part of the EPA Renewable Fuel Standards program. Fuel refiners and importers of nonrenewable fuels are obligated to produce a certain volume of renewable fuel or to buy an
equivalent amount of credits on the RIN market. The City is using the biogas from its wastewater treatment plant digester to fuel its Solid Waste division's trash trucks. Each gallon equivalent that the
City uses in a vehicle gets sold as a credit. The type of fuel produced by the City is rated D3 to be used for transportation.
2023 Adopted Budget includes:
Capital Equipment
Wastewater:
• (1) Connect Van - $30,000
• (1) Utility Cart - $18,000
• (2) Portable Generators & Trailers - $120,000
Organic Resources:
• (3) Front End Loaders - $310,000
Sewers Division:
• (1) Excavator - $300,000
• (1) Sewer Camera Truck - $425,000
• (1) Truck-4WD/crew cab - $60,000
• (2) Compressors - $30,000
Capital Projects
Wastewater Treatment Plant (WWTP) Upgrades:
• WWTP Plant/Secondary Projects - $5.0 million
• WWTP Secondary Plant Improvements - $1.4 million
• LTCP/CSO Tank Design WWTP - $1.0 million
Sewers:
• Sewer Lining Projects - $2.0 million
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Sewage Works Operations & Maintenance Reserve Fund Number 643
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 32,719 53,797 162,855 - - 34,786 34,786 (34,786) -
Interfund Transfers In - - - - - - - - -
Total Revenue 32,719 53,797 162,855 - - 34,786 34,786 (34,786) -
Expenditures
Interfund Transfers Out 32,719 - - - - - - - - -
Total Expenditures 32,719 - - - - - - - - -
Net Surplus / (Deficit) - 53,797 162,855 - - 34,786 34,786
Beginning Cash Balance 5,550,801 5,550,801 5,550,801 5,550,801
Cash Adjustments - (53,797) (127,162) -
Ending Cash Balance 5,550,801 5,550,801 5,586,493 5,550,801 5,798,241
Cash Reserves Target 4,327,098 4,527,715 5,698,602 5,698,602
Fund Purpose:
Explanation of Revenue Sources:
This fund was established to hold cash reserves equivalent to two months of budgeted operating expenses in the Sewage Works Operations Fund (#641). This serves as fiscal protection against the
risk of revenue shortfalls, emergencies, and other economic risks that may impact the sewage works' ability to meet financial commitments.
If this fund's cash falls below the reserve requirement, the Sewage Works Operations Fund (#641) will transfer funds to increase the cash reserves.
Historically, this fund received revenue from interest earned on the fund's cash balance. In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund
directly into Fund 641 rather than transferring it.
Once this fund's cash balance meets the reserve requirement, any excess interest earned is transferred to the Sewage Works Operations Fund (#641).
In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund directly into Fund 641 rather than transferring it.
Cash Reserves Target
16.67% of annual operating expenses in Fund
641, net of transfers
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Sewage Sinking (Debt Service) Fund Number 649
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 19,986 47,494 120,213 - - 40,902 40,902 (40,902) -
Debt Proceeds 14,339,893 - - - - - - - -
Interfund Transfers In 7,845,090 11,107,089 9,773,347 9,796,969 9,796,969 62,954 62,954 9,734,015 1%
PILOT - - - - - 24,516 24,516 (24,516) -
Total Revenue 22,204,969 11,154,583 9,893,560 9,796,969 9,796,969 128,372 128,372 9,668,597 1%
Expenditures by Type
Services & Charges
Debt Service Principal 20,236,844 6,275,000 6,420,000 7,662,084 7,662,084 - - - 7,662,084 0%
Debt Service Interest & Fees 1,779,749 1,238,373 1,076,591 2,134,885 2,134,885 1,299 - 1,299 2,133,586 0%
Total Services & Charges 22,016,593 7,513,373 7,496,591 9,796,969 9,796,969 1,299 - 1,299 9,795,670 0%
Interfund Transfers Out 1,509,210 - - - - - - - - -
Total Expenditures 23,525,803 7,513,373 7,496,591 9,796,969 9,796,969 1,299 - 1,299 9,795,670 0%
Net Surplus / (Deficit) (1,320,833) 3,641,210 2,396,969 - - 127,073 127,073
Beginning Cash Balance - 1,320,833 - -
Cash Adjustments 2,641,667 (4,962,043) 1,234,850 -
Ending Cash Balance 1,320,833 - 3,631,819 - 6,161,670
Cash Reserves Target 1,320,833 - 3,631,819 -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to account for the payment of debt service obligations for Sewage Works, including bond principal and interest payments and paying agent fees.
This fund receives interfund transfers from the Sewage Works Operations Fund (#641) as needed to cover debt service obligations. This fund also receives revenue from interest earned on the fund's
cash balance. Starting in 2022, interest earned on the cash balance in this fund will be subsequently transferred to the Sewage Works Operations Fund (#641).
In 2021, the City issued the 2021 Sewage Works Refunding Revenue Bonds to refund the 2009 Sewage Works State Revolving Loan Fund (SRF) Loan (debt schedule #70) and the 2011 Sewage
Works Revenue Bonds (debt schedule #93). The par amount of the bonds were $12,450,000 with a premium of $1,889,893 a total of $14,339,893. The funds were deposited into this fund to be used
to pay off the 2009 and 2011 debt in December 2021.
Starting in 2022, interest earned on the cash balance in this fund will be subsequently transferred to the Sewage Works Operations Fund (#641).
Current debt includes:
• 2012 Sewage Works Revenue Bonds - final payment December 1, 2032, (debt schedule #101)
• 2013A Sewage Works Revenue Bonds - final payment December 1, 2024 , (debt schedule #105)
• 2015 Sewage Works Revenue Bonds, Refunding 2006 & 2007 - final payment December 1, 2025, (debt schedule #145)
• 2020 Sewage Works Revenue Bonds, Refunding 2010 - final payment December 1, 2030, (debt schedule #80)
• 2021 Sewage Works Revenue Bonds, Refunding 2009 & 2011 - final payment December 1, 2031 (debt schedule #219)
The 2020 Debt Service Principal and Interest expense was higher than usual due to the refunding of the 2010 Sewage Works Revenue Bonds. The proceeds from the issuance of the refunding were
used to pay off of the original 2010 bonds. The payoff was $5.49 million in principal and $125k in interest. The refunding saved the City approximately $1.4 million in principal and interest over the
remaining life of the bonds.
The 2021 Debt Service Principal and Interest expense was higher than usual due to the refunding of the 2009 and 2011 debt. The proceeds from the issuance of the refunding were used to pay off of
the original debt. The payoff was $15.1 million in principal and $323k in interest. The refunding saved the City approximately $3.5 million in principal and interest over the remaining life of the bonds.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Sewage Debt Service Reserve Fund Number 653
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 271 36,341 110,014 - - 56,672 56,672 (56,672) -
Interfund Transfers In 1,509,210 - - - - - - - -
Total Revenue 1,509,481 36,341 110,014 - - 56,672 56,672 (56,672) -
Expenditures by Type
Interfund Transfers Out 1,749,971 - - - - - - - - -
Total Expenditures 1,749,971 - - - - - - - - -
Net Surplus / (Deficit) (240,490) 36,341 110,014 - - 56,672 56,672
Beginning Cash Balance 3,749,760 3,990,250 3,749,760 3,749,760
Cash Adjustments 480,980 (276,832) (85,903) -
Ending Cash Balance 3,990,250 3,749,760 3,773,871 3,749,760 3,950,087
Cash Reserves Target 3,990,250 3,749,760 3,773,871 3,749,760
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established in 2009 (ordinance 9966-09) to be the repository for the City's Sewage Works bond debt service reserves as required by bond documents. The required cash balance is
determined by the debt service financing arrangements at the time of issuance. The debt service reserve amount is used towards the last debt service payment.
This fund receives revenue from interest earned on the fund's cash balance. Starting in 2022, interest earned on the cash balance in this fund will be subsequently transferred to the Sewage Works
Operations Fund (#641).
A new debt service reserve requirement was established for the 2021 Sewage Works Refunding Revenue Bonds (debt schedule #219) in the amount of $1,509,210. This amount was transferred from
the Sewage Works Sinking Fund (#649) in 2021.
The debt service reserve amount is used towards the last debt service payment. Bond principal and interest payments are accounted for in the Sewage Works Sinking Fund (#649).
In 2020, the 2010 Sewage Works Revenue Bonds were refunded. The 2010 bonds debt service reserve amount ($322,566) was transferred to the Sewage Works Sinking Fund (#649) to be used
towards the refunding.
In 2021, the City issued the 2021 Sewage Works Refunding Revenue Bonds to refund the 2009 Sewage Works State Revolving Loan Fund (SRF) Loan (debt schedule #70) and the 2011 Sewage
Works Revenue Bonds (debt schedule #93). The remaining debt service reserve ($1,749,971) for the 2009 and 2011 debt was transferred to the Sewage Works Debt Service Fund #649 to be used
towards the pay off of the debt in December 2021.
Cash Reserves Target
100% cash reserves per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Sewage Works Customer Deposit Fund Number 654
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 4,446 10,905 37,039 - - 8,246 8,246 (8,246) -
Total Revenue 4,446 10,905 37,039 - - 8,246 8,246 (8,246) -
Expenditures
Interfund Transfers Out 4,446 - - - - - - - - -
Total Expenditures 4,446 - - - - - - - - -
Net Surplus / (Deficit) - 10,905 37,039 - - 8,246 8,246
Beginning Cash Balance 903,840 649,073 903,840 903,840
Cash Adjustments (254,768) 243,863 244,562 -
Ending Cash Balance 649,073 903,840 1,185,442 903,840 1,389,229
Cash Reserves Target 649,073 903,840 1,185,442 903,840
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to retain the security deposits collected from utility customers. Upon termination of service, the security deposited is refunded in the form of a credit to the customer's final
bill.
Historically, this fund received revenue from interest earned on the fund's cash balance. In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund
directly into Fund 641 rather than transferring it.
Historically, interest earned on this fund's cash balance was transferred to the Sewage Works Operations Fund (#641). In 2022, the City will change its interest earnings allocation methodology to
deposit interest earned by this fund directly into Fund 641 rather than transferring it.
Cash Reserves Target
100% cash reserves for customer deposits
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Project ReLeaf Fund Number 655
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 466,321 455,212 455,392 456,126 456,126 75,702 75,702 380,424 17%
Interest Earnings 2,322 4,980 13,471 7,640 7,640 2,884 2,884 4,756 38%
Interfund Transfers In - 36,158 4,905 - - - - - -
Total Revenue 468,643 496,350 473,768 463,766 463,766 78,586 78,586 385,180 17%
Expenditures by Type
Personnel
Salaries & Wages 40,726 35,920 40,178 83,136 83,136 5,852 - 5,852 77,284 7%
Fringe Benefits 3,115 2,810 3,074 6,360 6,360 448 - 448 5,912 7%
Total Personnel 43,841 38,730 43,252 89,496 89,496 6,299 - 6,299 83,196 7%
Supplies 3,980 6,928 4,380 7,605 7,605 - - - 7,605 0%
Services & Charges
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Operating Expenditures 47,821 45,658 47,632 97,101 97,101 6,299 - 6,299 90,801 6%
Bad Debt 1,793 43,213 6,436 6,500 11,405 3,689 - 3,689 7,716 32%
Interfund
Interfund Allocations 37,736 46,462 36,239 32,252 32,252 5,375 - 5,375 26,876 17%
Interfund Transfers Out 500,000 300,000 275,000 300,000 300,000 50,000 - 50,000 250,000 17%
Total Interfund 537,736 346,462 311,239 332,252 332,252 55,375 - 55,375 276,876 17%
Total Expenditures 587,350 435,333 365,307 435,852 440,757 65,364 - 65,364 375,393 15%
Net Surplus / (Deficit) (118,707) 61,017 108,461 27,914 23,009 13,223 13,223
Beginning Cash Balance 282,057 425,913 282,057 282,057
Cash Adjustments 262,563 (204,873) (37,452) -
Ending Cash Balance 425,913 282,057 353,065 305,066 482,890
Cash Reserves Target 146,838 108,833 91,327 110,189
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This was established to account for the fall and spring leaf collection program. This program is managed by the Department of Public Works through the Streets division.
This fund was established in 1989 (ordinance 8007-89) in response to the problems brought about by the layers of dead leaves that collect in the fall. The City instituted a leaf pick-up program, called
"Operation Re-Leaf," which encompassed using leaf vacuums as the primary collection tool. The City collects and disposes of leaves for residents to mitigate the practice of burning leaves. Burning
leaves impacts air quality and can cause house/wildfires.
(Ord. No. 7895-88, § 1; Ord. No. 8023-89, § 1; Ord. No. 9641-05, § I, 11-18-05)
Beginning in the fall 1989, the service charge per customer for this program was eighteen cents ($0.18) per month per household. Starting January 1, 2006, the charge was increased to ninety-nine
cents ($0.99) per month per household. The charge is included on residents' utility bills. There are currently 37,638 customers who pay for this service.
This fund also receives revenue from interest earned on the fund's cash balance.
The personnel budget includes the wages and benefits for the seasonal employees who perform the leaf pick-up work during the fall and spring. Interfund Transfers Out are for supervisory wages,
supplies, fuel, vactor repairs, and other expenses paid for by other funds. Currently, the leaf pickup program does not fund itself and the City has been spending down this fund's cash balance.
Prior to 2021, Interfund Transfers Out were made to the Motor Vehicle Highway Fund (#202) for supervisory wages, supplies, fuel, vactor repairs, and other expenses paid for by the Streets division.
In 2021, the Interfund Transfers Out was budgeted for a transfer to the Sewage Works Operations Fund (#641) for supervisory wages, supplies, fuel, vactor repairs, and other expenses paid for by
Fund 641. In 2022, the transfer will be made to Fund #202 going forward.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Storm Sewer Fund Number 667
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 1,064,337 1,036,932 1,042,143 1,147,200 1,147,200 197,749 197,749 949,451 17%
Intergov./ Grants 68,000 - 293,000 - - - - - -
Interest Earnings 7,492 22,740 53,355 - - 12,852 12,852 (12,852) -
Other Income - 12,000 - - - - - - -
Interfund Transfers In - 73,642 10,305 - - - - - -
Total Revenue 1,139,829 1,145,315 1,398,803 1,147,200 1,147,200 210,601 210,601 936,599 18%
Expenditures by Type
Services & Charges
Professional Services 74,572 189,476 273,376 250,000 360,528 6,214 104,314 110,528 250,001 31%
Other Services & Charges - - - - - - - - - -
Salaries & Wages - - - 57,000 - - - - - -
Fringe Benefits - - - 27,616 - - - - - -
Total Services & Charges 74,572 189,476 273,376 334,616 360,528 6,214 104,314 110,528 250,001 31%
Capital 436,855 1,217,100 389,687 1,250,000 2,808,042 95,620 1,317,707 1,413,328 1,394,714 50%
Bad Debt 175 84,577 13,360 - 10,305 8,431 - 8,431 1,874 82%
Total Expenditures 511,602 1,491,154 676,423 1,584,616 3,178,875 110,265 1,422,022 1,532,287 1,646,589 48%
Net Surplus / (Deficit) 628,227 (345,839) 722,379 (437,416) (2,031,675) 100,336 (1,321,686)
Beginning Cash Balance 1,604,154 1,032,916 1,604,154 1,604,154
Cash Adjustments (1,199,466) 917,078 (1,040,841) -
Ending Cash Balance 1,032,916 1,604,154 1,285,693 (427,521) 2,199,423
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
On January 14, 2019, the Common Council passed an ordinance to establish a storm water user fee (ordinance 10633-19). This fund was established to track receipt of the storm water fee revenue and
expense of that revenue on storm water projects.
- The storm sewer system consists of sewers, storm inlets, catch basins, manholes, curbs, gutters, ditches, swales, retention and/or detention ponds or basins, dams, and flood control facilities designed
for the collection, control, transport or discharge of stormwater. A storm water utility fee is a fee that produces revenue dedicated to improving drainage, controlling flooding, improving water quality
and implementing regulations.
The original storm water fee structure was a flat rate of $2 per month for residential customers and $5 per month for non-residential customers. The fee took effect on June 1, 2019. In August 2021,
the Common Council passed ordinance no. 10797-21 to change the rates. Effective January 1, 2022, the residential flat rate remains $2 per month however the non-residential rate will change as
follows: Tier 1-$5, Tier-2 $8, Tier 3-$10, Tier 4-$16, and Tier 5-$20. The ordinance allows for the storm water rates to increase incrementally from 2022 through 2025.
In 2021, the City received a $68,000 grant from the Indiana Department of Natural Resources - Lake and River Enhancement Program Division of Wildlife to be used towards the Northshore Bank
Stabilization Project.
The 2022 budget for stormwater projects include $200,000 for professional services and $824,000 identified for storm sewer projects, drainage projects, downspout disconnection plan and misc.
repairs. In 2021, projects included work on the South Bend Dam, Flood Mitigation, Western Avenue Phase III Storm Sewer, and the Michigan Street Separation.
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Police State Seizures Fund Number 216
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 22,670 23,345 51,127 15,000 15,000 7,823 7,823 7,177 52%
Interest Earnings 993 2,551 6,281 3,619 3,619 1,571 1,571 2,048 43%
Other Income - - - - - - - - -
Interfund Transfers In 7,636 - - - - - - - -
Total Revenue 31,299 25,897 57,408 18,619 18,619 9,393 9,393 9,225 50%
Expenditures by Type
Services & Charges
Education & Training - - - 10,000 10,000 - - - 10,000 0%
Other Services & Charges - - - 12,000 12,000 - - - 12,000 0%
Total Services & Charges - - - 22,000 22,000 - - - 22,000 0%
Capital 71,043 - - - - - - - - -
Total Expenditures 71,043 - - 22,000 22,000 - - - 22,000 0%
Net Surplus / (Deficit) (39,744) 25,897 57,408 (3,381) (3,381) 9,393 9,393
Beginning Cash Balance 173,825 213,569 173,825 173,825
Cash Adjustments 79,488 (65,640) (32,143) -
Ending Cash Balance 213,569 173,825 199,090 170,444 266,394
Cash Reserves Target 17,761 - - 5,500
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for law enforcement expenditures financed by the state or local agencies' authorized sale of confiscated property.
This fund receives revenue from the state or local agencies' authorized sale of confiscated property. This fund's revenue stream is not a steady flow. It is dependent upon the processing and release of
funds from the State for seized assets in drug activities. This fund also receives revenue from interest earned on the fund's cash balance.
Expenditures are typically budgeted for law enforcement training and various Police Department expenses. In recent years, the Police Department has used this fund to purchase one to two vehicles
each year. The Police Department has continued to spend down the cash balance in this fund in order to alleviate some of the burden on its operating budget in the General Fund (#101).
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Police Curfew Violations Fund Number 218
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Fines, Forfeitures, and Fees - 171 - - - - - - -
Interest Earnings 82 8 - - - - - - -
Total Revenue 82 178 - - - - - - -
Expenditures by Type
Interfund Transfers Out - 14,059 - - - - - - - -
Total Expenditures - 14,059 - - - - - - - -
Net Surplus / (Deficit) 82 (13,880) - - - - -
Beginning Cash Balance 13,880 13,799 13,880 13,880
Cash Adjustments (163) 13,962 (13,880) (13,880)
Ending Cash Balance 13,799 13,880 - - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund receives monies from Juvenile Positive Assistance and from the curfew ordinance violation fines. This fund also receives revenue from interest earned on the fund's cash balance.
In recent years, this fund has received very little revenue. In 2022, the cash balance in this fund will be transferred into the Law Enforcement Continuing Education Fund (#220) and this fund will be
discontinued. Revenues and expenses previously accounted for in this fund will be accounted for in Fund #220.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Law Enforcement Continuing Education Fund Number 220
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 41,980 390,016 648,640 300,000 300,000 14,000 14,000 286,000 5%
Charges for Services 115,024 136,492 106,073 120,700 120,700 24,591 24,591 96,109 20%
Fines, Forfeitures, and Fees 89,648 111,666 117,605 107,272 107,272 25,368 25,368 81,904 24%
Interest Earnings 2,229 8,766 20,473 11,263 11,263 5,926 5,926 5,337 53%
Donations 500 785 8,400 1,060 1,060 - - 1,060 0%
Other Income 2,970 1,884 93,350 - - - - - -
Interfund Transfers In 73,512 218,353 - - - - - - -
Total Revenue 325,862 867,961 994,541 540,295 540,295 69,885 69,885 470,410 13%
Expenditures by Type
Supplies 193,652 198,761 209,080 180,000 219,019 85,103 259,004 344,107 (125,088) 157%
Services & Charges
Professional Services 188 1,929 13,866 - - 279 - 279 (279) -
Education & Training 131,259 174,565 125,137 175,000 175,520 44,701 3,144 47,845 127,675 27%
Travel 28,840 49,137 39,543 55,000 55,949 8,406 30,355 38,761 17,188 69%
Other Services & Charges 69,045 52,751 20,734 59,250 59,550 4,139 300 4,439 55,111 7%
Total Services & Charges 229,333 278,383 199,280 289,250 291,019 57,526 33,799 91,325 199,695 31%
Capital - 26,338 301,100 40,000 40,000 85,000 66,795 151,795 (111,795) 379%
Bad Debt - - - - - - - - - -
Interfund Transfers Out - 19,000 - - - - - - - -
Total Expenditures 422,985 522,482 709,459 509,250 550,038 227,628 359,598 587,226 (37,188) 107%
Net Surplus / (Deficit) (97,123) 345,479 285,082 31,045 (9,743) (157,743) (517,341)
Beginning Cash Balance 378,981 483,549 378,981 378,981
Cash Adjustments 201,690 (450,047) 53,679 -
Ending Cash Balance 483,549 378,981 717,743 369,239 887,898
Cash Reserves Target 105,746 130,620 177,365 137,509
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:=SUMIF(TableCashBalanceByFund[Fund],R9C13,TableCashBalanceByFund[12/31/2021])
This fund was established (ordinance 6974-81) to fund the continuing education for the officers of the South Bend Police Department.
This fund is funded by fees from accident reports and fines for false alarm and loud noise ordinance violations. Starting in 2022, this fund will receive the following revenue sources previously
accounted for in other police special revenue funds: state and federal grant revenue, charges for services from the enforcement courses offered to other police departments who pay a fee to attend the
training (formerly in Fund #294), impound towing fees (formerly Fund #295), and donations for the Police K-9 unit (formerly in Fund #705). This fund also receives revenue from interest earned on
the fund's cash balance. Previously, this fund received revenue from gun permit application fees; however, a change in State legislation eliminated this revenue source. Effective July 1, 2021, the City of
South Bend and other municipalities can no longer charge a fee for processing gun permit applications. This change negatively impacts the South Bend Police Department as gun permit fees
accounted for $45k-$60k in revenue in this fund annually.
Expenditures include educational materials and equipment, conference and training registration, and travel costs for conferences/trainings. Starting in 2022, this fund will also account for grant related
activities or grant funded purchases previously accounted for in other police special revenue funds.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Local Income Tax - Public Safety Fund Number 249
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Local Income Taxes 9,391,746 9,168,579 12,690,915 11,988,584 11,988,584 1,998,097 1,998,097 9,990,487 17%
Interest Earnings 25,015 30,151 178,001 72,056 72,056 37,978 37,978 34,078 53%
Total Revenue 9,416,761 9,198,730 12,868,916 12,060,640 12,060,640 2,036,075 2,036,075 10,024,565 17%
Expenditures by Department
Police Department 4,737,560 5,124,420 4,749,279 5,177,494 5,177,494 796,538 - 796,538 4,380,956 15%
Fire Department 4,880,453 5,124,420 4,749,279 5,177,494 5,177,494 796,538 - 796,538 4,380,956 15%
Total Expenditures 9,618,013 10,248,840 9,498,558 10,354,988 10,354,988 1,593,075 - 1,593,075 8,761,912 15%
Expenditures by Type
Personnel
Salaries & Wages 7,651,358 10,248,840 9,498,558 10,354,988 10,354,988 1,593,075 - 1,593,075 8,761,913 15%
Fringe Benefits 1,966,655 - - - - - - - - -
Total Personnel 9,618,013 10,248,840 9,498,558 10,354,988 10,354,988 1,593,075 - 1,593,075 8,761,913 15%
Total Expenditures 9,618,013 10,248,840 9,498,558 10,354,988 10,354,988 1,593,075 - 1,593,075 8,761,913 15%
Net Surplus / (Deficit) (201,253) (1,050,110) 3,370,357 1,705,652 1,705,652 443,000 443,000
Beginning Cash Balance 3,844,465 4,045,717 3,844,465 3,844,465
Cash Adjustments 402,505 848,857 (4,428,821) -
Ending Cash Balance 4,045,717 3,844,465 2,786,001 5,550,117 6,606,397
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This fund was established in 2010 due to Indiana's property tax "circuit breaker" system that effectively limited property tax receipts. This fund can only be used to pay for Public Safety personnel
wages and benefits. (Resolution 3980-09, Indiana Code IC 6-3.6-6-8)
This fund receives the Public Safety portion of the City's Local Income Tax (LIT) revenue distribution. The City adopted a special income tax of one quarter of one percent (0.25%) to be used solely
for the salaries of public safety positions that were formerly paid by property taxes. Local income tax revenue distributions are determined annually by the Indiana Dept of Local Government Finance
(DLGF). Local income tax revenue is distributed by St. Joseph County monthly.
Because this fund can only be used to pay for public safety personnel, the City budgets for the salaries and benefits for as many sworn police officers and firefighters as this fund’s revenue can support.
This reduces the public safety personnel expenses in the General Fund (#101). This fund's cash balance has grown in recent years due to unanticipated supplemental income tax distributions;
therefore, the City plans to spend down the excess cash during 2022.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Police Take Home Vehicle Fund Number 278
Fund Type Internal Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 14,640 44,220 59,460 40,000 40,000 10,240 10,240 29,760 26%
Interest Earnings 4,038 10,132 22,799 14,276 14,276 5,046 5,046 9,230 35%
Total Revenue 18,678 54,352 82,259 54,276 54,276 15,286 15,286 38,990 28%
Expenditures by Type
Services & Charges
Other Services & Charges 270 - 1,040 50,000 50,000 - - - 50,000 0%
Total Services & Charges 270 - 1,040 50,000 50,000 - - - 50,000 0%
Interfund Transfers Out - - - - - - - - - -
Total Expenditures 270 - 1,040 50,000 50,000 - - - 50,000 0%
Net Surplus / (Deficit) 18,408 54,352 81,219 4,276 4,276 15,286 15,286
Beginning Cash Balance 698,546 681,823 698,546 698,546
Cash Adjustments (35,131) (37,628) (29,288) -
Ending Cash Balance 681,823 698,546 750,477 702,822 848,877
Cash Reserves Target 750,000 750,000 750,000 750,000
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund charges police officers for liability insurance for take home police vehicles. Deductions from officers are made in accordance with an agreement with the Fraternal Order of Police (FOP).
The agreement calls for the suspension of the deduction based on the price of gas and the balance of cash in this fund. The decrease in revenue is the result of suspending the payroll deduction for
sworn officers as outlined in the agreement between the Police Department and the FOP. This fund receives revenue from interest earned on the fund's cash balance. As the fund's cash balance dips
below the reserve requirement set by the FOP, the City anticipate the deduction will be increased.
Expenditures are driven by the number of off duty accident claims. Claims have been minimal in this fund since it was created.
Cash Reserves Target
Set dollar amount of $750,000
This fund was established (ordinance 9919-09) to receive monies collected from South Bend Police Department Officers participating in the City's Take Home Vehicle Program. The City shall use all
monies deposited into this fund to pay the costs and expenses associated with claims arising from use of program vehicles occurring while officers are not on duty.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Police Block Grants Fund Number 280
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 24 2 - - - - - - -
Total Revenue 24 2 - - - - - - -
Expenditures by Type
Interfund Transfers Out - 4,165 - - - - - - - -
Total Expenditures - 4,165 - - - - - - - -
Net Surplus / (Deficit) 24 (4,162) - - - - -
Beginning Cash Balance 4,162 4,138 4,162 4,162
Cash Adjustments (49) 4,187 (4,162) (4,162)
Ending Cash Balance 4,138 4,162 - - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
This fund was established to track the revenue and expenditures related to specific federal grants for the Police Department.
Historically, this fund received grant revenue.
In 2022, the cash balance in this fund will be transferred into the Law Enforcement Continuing Education Fund (#220) and this fund will be discontinued. Revenues and expenses previously
accounted for in this fund will be accounted for in Fund #220. Federal grant revenue and expenditures for the Police Department will be tracked in Fund #220 going forward.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Fire Department Capital Fund Number 287
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants - - - 75,000 75,000 - - 75,000 0%
Charges for Services 1,905,360 1,972,044 2,031,836 2,066,825 2,066,825 345,514 345,514 1,721,311 17%
Fines, Forfeitures, and Fees 300 47 26 - - - - - -
Interest Earnings 8,474 25,176 29,370 - - 2,198 2,198 (2,198) -
Debt Proceeds 210,000 1,355,000 1,430,000 3,410,000 3,410,000 - - 3,410,000 0%
Other Income 1,334 35,574 - - - - - - -
Interfund Transfers In - - - - - - - - -
Total Revenue 2,125,468 3,387,841 3,491,232 5,551,825 5,551,825 347,712 347,712 5,204,113 6%
Expenditures by Type
Supplies - - - - - - - - - -
Services & Charges
Debt Service Principal 662,651 833,022 948,939 1,366,196 1,366,196 319,955 - 319,955 1,046,241 23%
Debt Service Interest & Fees 36,120 29,449 45,632 133,153 133,154 15,587 - 15,587 117,567 12%
Total Services & Charges 698,771 862,471 994,570 1,499,349 1,499,349 335,542 - 335,542 1,163,808 22%
Capital 1,029,049 671,760 4,037,967 2,895,000 4,676,808 31,369 1,534,913 1,566,282 3,110,526 33%
Interfund Transfers Out 750,306 748,656 752,356 746,961 746,961 206,750 - 206,750 540,211 28%
Total Expenditures 2,478,126 2,282,888 5,784,893 5,141,311 6,923,119 573,661 1,534,913 2,108,574 4,814,545 30%
Net Surplus / (Deficit) (352,658) 1,104,953 (2,293,661) 410,514 (1,371,294) (225,949) (1,760,861)
Beginning Cash Balance 2,758,339 3,111,296 2,758,339 2,758,339
Cash Adjustments 705,616 (1,457,911) 3,392,102 -
Ending Cash Balance 3,111,296 2,758,339 3,856,779 1,387,045 1,373,879
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10339-14) to track capital expenditures of the South Bend Fire Department. Capital purchases include fire apparatuses, ambulances, and major construction
projects. This fund is also used to repay debt issued for capital purchases and capital improvements, such as vehicle/equipment capital leases and bonds.
In 2020, the interfund transfer from the EMS Operating Fund (#288) was replaced by payments from St Joseph County for the City providing EMS services. Revenue received from various grants for
equipment or other capital is deposited here. This fund also receives revenue from interest earned on the fund's cash balance.
Capital spending includes Fire Department fleet needs as well as updates and repair & maintenance to Fire Department facilities. To keep the fleet within a serviceable life span, generally the City aims
to purchase 2 pumper trucks every 3 years and an aerial apparatus every 5 years. The City also purchases or refurbishes an ambulance each year. The Fire Department also uses this fund to replace
necessary equipment such as self contained briefing apparatus (SCBA), cardiac monitors, and turnout gear. | Debt Service - The principal and interest expense budgeted is for capital lease payments
for vehicles and equipment purchased through 5-year capital leases.| Interfund Transfers Out includes transfers to debt service funds for principal and interest payments on two different bonds:
2013 EMS/Fire Station/Tower Bonds (final payment February 1, 2033, debt schedule #116) and 2018 General Obligation Bonds-Fire Station #9 (final payment January 15, 2038, debt schedule
#168).
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Emergency Medical Services Operating Fund Number 288
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings - - - - - - - - -
Other Income - - - - - - - - -
Total Revenue - - - - - - - - -
Expenditures by Type
Supplies - - - - - - - - - -
Services & Charges
Professional Services - - - - - - - - - -
Repairs & Maintenance - - - - - - - - - -
Education & Training - - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Bad Debt - - - - - - - - - -
Interfund Transfers Out 607,079 - - - - - - - - -
Total Expenditures 607,079 - - - - - - - - -
Net Surplus / (Deficit) (607,079) - - - - - -
Beginning Cash Balance - 607,079 - -
Cash Adjustments 1,214,157 (607,079) - -
Ending Cash Balance 607,079 - - - -
Cash Reserves Target - - - -
Fund Purpose:
This fund accounted for the expenditures of the Emergency Medical Services (EMS) program. This Fund captured personnel and operating expenses primarily for Emergency Medical Services
division and reflected a portion of the cost associated with operating ambulances.
Revenue received from EMS services was not sufficient to cover expenses. Keeping EMS in its own fund would require interfund transfers. Starting in 2020, EMS activities were moved to the General
Fund (#101). Moving EMS revenue and expenditures into the General Fund simplified accounting. The transfer included the wages and benefits for 47 firefighters and 4 EMS billing personnel.
Keeping firefighter EMS personnel in a separate budget proved impractical due to frequently changing assignments. EMS expenditures related to billing are accounted for in separate division in the
General Fund. The remaining cash balance in Fund 288 was transferred to the General Fund (#101) during 2021.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Haz-Mat Fund Number 289
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services - 3,000 2,375 5,000 5,000 1,745 1,745 3,255 35%
Interest Earnings 165 403 910 585 585 201 201 384 34%
Other Income - - - - - - - - -
Total Revenue 165 3,403 3,285 5,585 5,585 1,946 1,946 3,639 35%
Expenditures by Type
Supplies - 200 - 10,000 10,000 - - - 10,000 0%
Services & Charges
Professional Services - - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Capital - - - - - - - - - -
Total Expenditures - 200 - 10,000 10,000 - - - 10,000 0%
Net Surplus / (Deficit) 165 3,203 3,285 (4,415) (4,415) 1,946 1,946
Beginning Cash Balance 28,102 27,937 28,102 28,102
Cash Adjustments (330) (3,038) (181) -
Ending Cash Balance 27,937 28,102 31,206 23,688 34,770
Cash Reserves Target - 50 - 2,500
Fund Purpose:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 7748-87) to account for the monies generated by the South Bend Fire Department's response to hazardous materials incidents. The monies accumulated in this
fund may be expended for the replacement, repair, or purchase of Haz-Mat equipment, for training and supplies and to defray the expense of Haz-Mat related activities. There are no budgeted
positions in this fund, responses are made by firefighters of the South Bend Fire Department.
By ordinance, the South Bend Fire Department charges businesses for hazardous materials response. Funding is entirely dependent on the number of billable hazardous material responses in any given
calendar year. This fund also receives revenue from interest earned on the fund's cash balance.
In recent years, this fund has been used to purchase supplies for the Haz-Mat response team. No major expenditures are planned.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Indiana River Rescue Fund Number 291
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 94,550 125,805 149,173 90,000 90,000 61,200 61,200 28,800 68%
Interest Earnings 1,993 5,011 12,217 7,878 7,878 2,905 2,905 4,973 37%
Other Income 1,300 - - - - - - - -
Total Revenue 97,843 130,816 161,390 97,878 97,878 64,105 64,105 33,773 65%
Expenditures by Type
Supplies 32,702 59,778 31,093 67,500 70,571 2,359 1,737 4,096 66,475 6%
Services & Charges
Professional Services - - -
Printing & Advertising - - 2,101 1,300 1,300 - - - 1,300 0%
Education & Training 13,608 22,179 21,269 10,000 10,000 3,336 1,738 5,073 4,927 51%
Travel 1,483 - - - - - - - - -
Repairs & Maintenance 4,210 7,796 1,770 13,000 13,000 - - - 13,000 0%
Other Services & Charges 1,133 575 289 - - 853 - 853 (853) -
Total Services & Charges 20,433 30,550 25,429 24,300 24,300 4,189 1,738 5,926 18,374 24%
Capital - - 34,530 - - - - - - -
Total Expenditures 53,135 90,328 91,052 91,800 94,871 6,548 3,474 10,022 84,849 11%
Net Surplus / (Deficit) 44,708 40,488 70,338 6,078 3,008 57,558 54,083
Beginning Cash Balance 360,311 330,404 360,311 360,311
Cash Adjustments (74,615) (10,580) (41,077) -
Ending Cash Balance 330,404 360,311 389,572 363,319 531,714
Cash Reserves Target 13,284 22,582 22,763 23,718
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
360311.48
This fund is used to account for the revenue from tuition fees for students attending the Indiana River Rescue School (IRRS) and the expenditures of that revenue. There are typically 2-4 schools a
year, each a week in duration. The IRRS is administered by the South Bend Fire Department under the direction of the Special Operations Bureau. The majority of instructors are comprised of South
Bend Firefighters and Conservation Officers from the IDNR. The 5 day school includes extensive field training on the St. Joseph River and its unique "L" shaped dam, and the East Race Waterway.
The East Race Waterway is a 2000' run which winds through the heart of the city. It allows for realistic but controlled training in river rescue, what is now formally known as the premier training
ground for "Swiftwater rescue." Class lectures will provide a background in theory and concepts that enables students to go directly to the water. Students become familiar with such equipment as
inflatable boats, outboards, rescue ropes, rope rescue systems & necessary personal gear. Many of the teaching sites have actual accident histories.
This fund collects tuition fees for students attending the Indiana River Rescue School. This fund also receives revenue from interest earned on the fund's cash balance.
Expenditures are for the maintenance and repair of rescue equipment and supplies for river rescue training. No major expenditures are planned.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Police Grants Fund Number 292
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants - - - - - - - - -
Total Revenue - - - - - - - - -
Expenditures by Type
Interfund Transfers Out - 26,716 - - - - - - - -
Total Expenditures - 26,716 - - - - - - - -
Net Surplus / (Deficit) - (26,716) - - - - -
Beginning Cash Balance 26,716 26,716 26,716 26,716
Cash Adjustments - 26,716 (26,716) -
Ending Cash Balance 26,716 26,716 - - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to track the revenue and expenditures related to specific federal grants for the Police Department.
Historically, this fund received grant revenue.
In 2022, the cash balance in this fund will be transferred into the Law Enforcement Continuing Education Fund (#220) and this fund will be discontinued. Revenues and expenses previously
accounted for in this fund will be accounted for in Fund #220. Federal grant revenue and expenditures for the Police Department will be tracked in Fund #220 going forward.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Regional Police Academy Fund Number 294
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 19,625 - - - - - - - -
Interest Earnings 819 83 - - - - - - -
Total Revenue 20,444 83 - - - - - - -
Expenditures by Type
Supplies - - - - - - - - - -
Services & Charges
Other Services & Charges 100 - - - - - - - - -
Total Services & Charges 100 - - - - - - - - -
Interfund Transfers Out - 146,411 - - - - - - - -
Total Expenditures 100 146,411 - - - - - - - -
Net Surplus / (Deficit) 20,344 (146,328) - - - - -
Beginning Cash Balance 146,328 125,984 146,328 146,328
Cash Adjustments (40,688) 166,672 (146,328) (146,328)
Ending Cash Balance 125,984 146,328 - - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 7104-82) to account for revenues and expenditures related to the advancement of present and future police officers and funds the cost of course material and
instructors at the South Bend Police Academy.
This fund received revenue from the enforcement courses offered to other police departments who pay a fee to attend the training.
Expenditures were for seminars, travel, lectures, and career days. In 2022, the cash balance in this fund will be transferred into the Law Enforcement Continuing Education Fund (#220) and this fund
will be discontinued. Revenues and expenses previously accounted for in this fund will be accounted for in Fund #220.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name COPS MORE Grant Fund Number 295
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 103,213 - - - - - - - -
Fines, Forfeitures, and Fees 7,312 - - - - - - - -
Interest Earnings 432 30 64 - - - - - -
Other Income 120 - - - - - - - -
Total Revenue 111,077 30 64 - - - - - -
Expenditures by Type
Supplies 16,331 - - - - - - - - -
Services & Charges
Other Services & Charges 6,214 - - - - - - - - -
Total Services & Charges 6,214 - - - - - - - - -
Capital 116,658 - - - - - - - - -
Interfund Transfers Out - 24,566 - - - - - - - -
Total Expenditures 139,203 24,566 - - - - - - - -
Net Surplus / (Deficit) (28,126) (24,536) 64 - - - -
Beginning Cash Balance 45,349 73,474 45,349 45,349
Cash Adjustments 56,251 (3,589) (24,600) (45,349)
Ending Cash Balance 73,474 45,349 20,813 - 20,876
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was originally established (7015-82) to track the Community Oriented Police Program but has been expanded to track other federal grants related to the Police Department. In recent years,
this fund has also been used to track donations and their associated expenditures.
This fund received revenue from various Federal and State Grants. The Community-Oriented Policing Services (COPS) Office of the Department of Justice offers grants through the Making Officer
Redeployment Effective (MORE) program. This fund also received revenue from impound towing fees.
Expenditures included grant related activities and grant funded purchases. In 2022, the cash balance in this fund will be transferred into the Law Enforcement Continuing Education Fund (#220) and
this fund will be discontinued. Revenues and expenses previously accounted for in this fund will be accounted for in Fund #220.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Police Federal Drug Enforcement Fund Number 299
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 57,919 98,333 155,023 80,000 80,000 15,618 15,618 64,382 20%
Interest Earnings 192 1,002 3,289 2,288 2,288 491 491 1,797 21%
Interfund Transfers In - 19,000 - - - - - - -
Total Revenue 58,110 118,335 158,312 82,288 82,288 16,109 16,109 66,179 20%
Expenditures by Type
Supplies - 34,145 - 50,000 50,000 - - - 50,000 0%
Services & Charges
Professional Services - 9,999 - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - 9,999 - - - - - - - -
Capital - 15,835 75,609 - - - - - - -
Interfund Transfers Out 81,148 - - - - - - - - -
Total Expenditures 81,148 59,979 75,609 50,000 50,000 - - - 50,000 0%
Net Surplus / (Deficit) (23,037) 58,356 82,703 32,288 32,288 16,109 16,109
Beginning Cash Balance 60,237 83,275 60,237 60,237
Cash Adjustments 46,075 (81,393) (24,347) -
Ending Cash Balance 83,275 60,237 118,593 92,525 217,404
Cash Reserves Target 20,287 14,995 18,902 12,500
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to receive the Police Department's share of money acquired in Federal drug enforcement activity. Expenditures are to be used to fund drug enforcement and training.
This fund's revenue stream is not a steady flow. It is dependent upon the processing and release of funds from the Fed for seized assets in drug activities. This fund also receives revenue from
Expenditures are for replacement of police cars and for supplies related to drug enforcement and training.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2018 Fire Station #9 Bond Debt Service Fund Number 350
Fund Type Debt Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interfund Transfers In 345,306 344,156 342,856 341,331 341,331 - - 341,331 0%
Total Revenue 345,306 344,156 342,856 341,331 341,331 - - 341,331 0%
Expenditures by Type
Services & Charges
Debt Service Principal 205,000 210,000 215,000 220,000 220,000 110,000 - 110,000 110,000 50%
Debt Service Interest & Fees 140,306 134,156 127,856 121,331 121,331 61,491 - 61,491 59,841 51%
Total Services & Charges 345,306 344,156 342,856 341,331 341,331 171,491 - 171,491 169,841 50%
Total Expenditures 345,306 344,156 342,856 341,331 341,331 171,491 - 171,491 169,841 50%
Net Surplus / (Deficit) - - - - - (171,491) (171,491)
Beginning Cash Balance - - - -
Cash Adjustments - - - -
Ending Cash Balance - - - - (171,491)
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10590-18) to pay for the semi-annual payment of debt service principal and interest to the bondholders for the General Obligation Bonds, Series 2018 (debt
schedule #168). The bonds were issued to fund the replacement of Fire Station #9 and addition of a classroom building on the grounds of the Luther J Taylor Sr. Fire Training Center. The par
amount of the General Obligation Bonds, Series 2018 was $5,045,000 with a premium of $37,316. The bonds were closed on March 29, 2018 with a net interest rate of 3.065%. The capital
expenditures of this bond are tracked in the 2018 Fire Station #9 Bond Capital Fund (#451).
This fund receives interfund transfers from the Fire Department Capital Fund (#287) in the amount of the debt service payments.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2018 Fire Station #9 Bond Capital Fund Number 451
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 1,857 4,397 9,313 - - 1,989 1,989 (1,989) -
Total Revenue 1,857 4,397 9,313 - - 1,989 1,989 (1,989) -
Expenditures by Type
Capital - - - - - - - - - -
Total Expenditures - - - - - - - - - -
Net Surplus / (Deficit) 1,857 4,397 9,313 - - 1,989 1,989
Beginning Cash Balance 316,090 314,233 316,090 316,090
Cash Adjustments (3,714) (2,540) (5,951) -
Ending Cash Balance 314,233 316,090 319,452 316,090 331,560
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to track the expenditures of the proceeds from the General Obligation Bonds, Series 2018. The bonds were issued to fund the replacement of Fire Station #9 and addition of
a classroom building on the grounds of the Luther J Taylor Sr. Fire Training Center. Payment of debt service principal and interest to the bondholders is recorded in the 2018 Fire Station #9 Bond
Debt Service Fund (#350). Bond issuance costs were recorded in this fund per Ordinance 10576-18 section VII-(a).
The par amount of the General Obligation Bonds, Series 2018 was $5,045,000 with a premium of $37,316. The bonds were closed on March 29, 2018 with a net interest rate of 3.065%. The net
Construction of Fire Station 9 was completed in 2019. The new station was constructed at the corner of Mishawaka Avenue and 21st Street and will house Engine 9, Medic 9, Boat 2, and
accommodate up to seven assigned firefighters per day.
The remaining bond capital proceeds will be used to construct an additional classroom building on the grounds of the Luther J Taylor Sr. Fire Training Center. It will be an approximately 3,000 square
foot building and will house a rugged, divisible classroom with the capacity for 100 personnel and additional training props and storage areas.
Cash Reserves Target
No reserve requirement - Bond capital fund -
spend down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Fire Pension Fund Number 701
Fund Type Pension Trust Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 4,101,279 4,061,778 4,063,376 4,600,000 4,600,000 - - 4,600,000 0%
Interest Earnings 1,809 6,207 10,004 10,839 10,839 1,399 1,399 9,440 13%
Other Income - 5,728 2,166 - - - - - -
Total Revenue 4,103,087 4,073,713 4,075,547 4,610,839 4,610,839 1,399 1,399 4,609,440 0%
Expenditures by Type
Personnel
Salaries & Wages 4,131,672 4,122,958 4,038,647 4,433,046 4,433,046 665,936 - 665,936 3,767,110 15%
Total Personnel 4,131,672 4,122,958 4,038,647 4,433,046 4,433,046 665,936 - 665,936 3,767,110 15%
Supplies - - 93 100 100 - - - 100 0%
Services & Charges
Professional Services 3,500 8,767 3,825 14,000 14,000 - 3,500 3,500 10,500 25%
Travel - - - 350 350 - - - 350 0%
Other Services & Charges 1,296 1,182 1,186 1,400 1,400 356 - 356 1,044 25%
Total Services & Charges 4,796 9,949 5,011 15,750 15,750 356 3,500 3,856 11,894 24%
Total Expenditures 4,136,468 4,132,907 4,043,751 4,448,896 4,448,896 666,293 3,500 669,793 3,779,104 15%
Net Surplus / (Deficit) (33,381) (59,194) 31,796 161,943 161,943 (664,894) (668,394)
Beginning Cash Balance 420,180 453,561 420,180 420,180
Cash Adjustments 66,762 25,814 (91,898) -
Ending Cash Balance 453,561 420,180 360,078 582,123 (272,113)
Cash Reserves Target 413,647 413,291 404,375 444,890
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the 1925 & 1937 pension plans for retired South Bend firefighters and receives reimbursement from the State of Indiana.
"Pension relief" payments from the Indiana Public Retirement System (INPRS) are an actuarial estimate of the current budget year's payments and an adjustment of the prior budget year's estimate to
the actual payments made during the prior year, including certain administrative costs. Payments are typically received in June and September. This fund can have a negative cash balance when it is
waiting to be reimbursed by the State. This fund also receives revenue from interest earned on the fund's cash balance.
Expenditures are for the pension payments to retired firefighters or surviving spouses and for death benefits paid out. Retiree health insurance payments are not paid through this fund; this cost is not
reimbursed by the state. Retiree health payments are paid through the regular Fire Department budget in the General Fund (#101).
Cash Reserves Target
10% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Police Pension Fund Number 702
Fund Type Pension Trust Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 5,950,693 6,010,721 5,984,746 5,800,000 5,800,000 - - 5,800,000 0%
Interest Earnings 2,305 9,558 14,162 8,312 8,312 1,586 1,586 6,726 19%
Other Income 4,119 1,527 - 2,120 2,120 - - 2,120 0%
Total Revenue 5,957,118 6,021,806 5,998,908 5,810,432 5,810,432 1,586 1,586 5,808,846 0%
Expenditures by Type
Personnel
Salaries & Wages 5,958,435 5,960,160 6,105,589 5,886,264 5,886,264 1,024,752 - 1,024,752 4,861,512 17%
Total Personnel 5,958,435 5,960,160 6,105,589 5,886,264 5,886,264 1,024,752 - 1,024,752 4,861,512 17%
Supplies - - - - - - - - - -
Services & Charges
Professional Services 3,500 3,500 3,500 6,500 6,500 - 3,500 3,500 3,000 54%
Travel - - - 500 500 - - - 500 0%
Other Services & Charges 829 999 1,116 1,400 1,400 212 - 212 1,188 15%
Total Services & Charges 4,329 4,499 4,616 8,400 8,400 212 3,500 3,712 4,688 44%
Total Expenditures 5,962,764 5,964,659 6,110,205 5,894,664 5,894,664 1,024,964 3,500 1,028,464 4,866,200 17%
Net Surplus / (Deficit) (5,646) 57,147 (111,297) (84,232) (84,232) (1,023,378) (1,026,878)
Beginning Cash Balance 560,923 566,569 560,923 560,923
Cash Adjustments 11,292 (62,793) 166,889 -
Ending Cash Balance 566,569 560,923 616,515 476,691 (516,606)
Cash Reserves Target 596,276 596,466 611,020 589,466
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the 1925 & 1937 pension plans for retired South Bend police officers and receives reimbursement from the State of Indiana.
"Pension relief" payments from the Indiana Public Retirement System (INPRS) are an actuarial estimate of the current budget year's payments and an adjustment of the prior budget year's estimate to
the actual payments made during the prior year, including certain administrative costs. Payments are typically received in June and September. This fund can have a negative cash balance when it is
waiting to be reimbursed by the State. This fund also receives revenue from interest earned on the fund's cash balance.
Expenditures are for the pension payments to retired police officers or surviving spouses and for death benefits paid out. Retiree health insurance payments are not paid through this fund; this cost is
not reimbursed by the state. Retiree health payments are paid through the regular Police Department budget in the General Fund (#101).
Cash Reserves Target
10% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Police K-9 Unit Fund Number 705
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 14 1 - - - - - - -
Donations - - - - - - - - -
Total Revenue 14 1 - - - - - - -
Expenditures by Type
Interfund Transfers Out - 2,436 - - - - - - - -
Total Expenditures - 2,436 - - - - - - - -
Net Surplus / (Deficit) 14 (2,435) - - - - -
Beginning Cash Balance 2,435 2,420 2,435 2,435
Cash Adjustments (29) 2,449 (2,435) (2,435)
Ending Cash Balance 2,420 2,435 - - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
This fund was established (ordinance 7945-88) to account for donations for the Police K-9 unit and track expenditures of those funds.
This fund received donations for the Police K-9 unit. In recent years, there have been no donations.
The donations are to be spent on supplies or services directly related to the Police K-9 unit. In 2022, the cash balance in this fund will be transferred into the Law Enforcement Continuing Education
Fund (#220) and this fund will be discontinued. Revenues and expenses previously accounted for in this fund will be accounted for in Fund #220.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Parks & Recreation Fund Number 201
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 10,271,000 10,742,492 11,441,107 12,054,149 12,054,149 - - 12,054,149 0%
Intergov./ Shared Revenues 911,437 427,491 861,197 897,088 897,088 - - 897,088 0%
Intergov./ Grants 200,000 - 135,000 - - - - - -
Licenses & Permits 253 348 289 - - 26 26 (26) -
Charges for Services 2,922,965 3,503,012 3,171,541 2,959,252 2,959,252 463,302 463,302 2,495,950 16%
Fines, Forfeitures, and Fees 12 24 - - - - - - -
Interest Earnings 20,758 37,004 130,670 59,330 59,330 49,341 49,341 9,989 83%
Debt Proceeds - 1,290,000 - 1,172,500 1,172,500 - - 1,172,500 0%
Donations 912,899 640,929 1,447,300 294,000 294,000 - - 294,000 0%
Other Income 132,135 336,986 240,432 84,784 84,784 12,018 12,018 72,766 14%
Interfund Transfers In 1,232,541 119,221 5,372,562 6,000,000 6,000,000 1,000,000 1,000,000 5,000,000 17%
Total Revenue 16,604,000 17,097,508 22,800,098 23,521,103 23,521,103 1,524,687 1,524,687 21,996,416 6%
Expenditures by Division
Community Initiatives - - 1,280,884 1,639,574 1,735,079 209,185 256,286 465,472 1,269,607 27%
Park Administration 1,528,718 1,068,419 1,000,988 1,274,302 1,319,153 162,977 42,735 205,713 1,113,440 16%
Park Maintenance 6,987,490 7,955,421 9,494,446 9,646,173 10,202,802 1,344,614 1,174,084 2,518,698 7,684,104 25%
Golf Courses 1,700,799 1,975,148 2,215,416 2,397,706 2,769,442 293,735 143,142 436,877 2,332,565 16%
Recreational Experiences 2,683,314 2,294,300 2,376,955 2,636,923 2,653,124 362,242 29,614 391,857 2,261,267 15%
Community Programming - 1,219,796 1,331,326 1,942,148 1,942,591 170,238 3,022 173,259 1,769,332 9%
Development & Promotions 911,174 1,068,863 1,069,187 1,659,496 1,660,081 92,486 584 93,070 1,567,010 6%
Park Projects & Capital 460,817 485,729 838,269 400,000 8,935,621 464,505 6,667,291 7,131,796 1,803,825 80%
Potawatomi Zoo 701,965 701,803 602,174 403,422 403,422 200,570 200,000 400,570 2,852 99%
Total Expenditures 14,974,277 16,769,479 20,209,644 21,999,744 31,621,314 3,300,553 8,516,759 11,817,312 19,804,002 37%
Expenditures by Type
Personnel
Salaries & Wages 5,799,795 6,158,855 7,098,989 8,069,907 8,060,147 949,391 - 949,391 7,110,756 12%
Fringe Benefits 2,037,827 2,100,307 2,297,681 3,007,874 3,006,434 364,050 - 364,050 2,642,384 12%
Total Personnel 7,837,623 8,259,162 9,396,670 11,077,781 11,066,580 1,313,440 - 1,313,440 9,753,140 12%
Supplies 1,372,042 1,591,115 1,611,704 1,839,279 1,958,879 201,773 268,841 470,613 1,488,265 24%
Services & Charges
Professional Services 114,458 195,731 565,516 779,706 944,482 144,581 372,591 517,173 427,310 55%
Printing & Advertising 155,635 409,687 631,575 731,687 736,711 34,928 5,040 39,968 696,742 5%
Utilities 930,114 942,839 914,400 1,203,300 1,203,100 141,095 - 141,095 1,062,005 12%
Education & Training 15,827 22,292 96,883 55,100 58,408 2,655 6,296 8,951 49,457 15%
Travel 5,123 19,192 16,085 33,630 34,376 - 575 575 33,801 2%
Grants & Subsidies 715,000 715,000 1,058,200 665,000 665,000 200,000 201,000 401,000 264,000 60%
Other Services & Charges 565,456 881,498 680,718 919,844 942,627 86,829 143,003 229,832 712,795 24%
Debt Service Principal 452,898 379,954 462,762 326,793 721,409 138,605 - 138,605 582,803 19%
Debt Service Interest & Fees 31,020 23,547 56,745 43,002 114,863 11,732 - 11,732 103,131 10%
Total Services & Charges 3,621,808 4,190,681 5,443,231 5,694,345 6,389,598 889,931 848,917 1,738,848 4,650,748 27%
Operating Expenditures 12,831,473 14,040,958 16,451,604 18,611,404 19,415,057 2,405,144 1,117,758 3,522,902 15,892,153 18%
Capital 474,790 896,973 1,807,647 1,217,508 10,024,225 531,472 7,399,001 7,930,473 2,093,752 79%
Bad Debt - 1,100 240 - - - - - - - 5,865,858
Interfund
Interfund Allocations 1,668,015 1,830,448 1,950,153 2,170,831 2,182,031 363,938 - 363,938 1,818,094 17%
Interfund Transfers Out - - - - - - - - - -
Total Interfund 1,668,015 1,830,448 1,950,153 2,170,831 2,182,031 363,938 - 363,938 1,818,094 17%
Total Expenditures 14,974,277 16,769,479 20,209,644 21,999,744 31,621,314 3,300,553 8,516,759 11,817,312 19,803,999 37%
Net Surplus / (Deficit) 1,629,723 328,028 2,590,454 1,521,360 (8,100,211) (1,775,866) (10,292,625)
Beginning Cash Balance 5,865,858 4,156,004 5,865,858 5,865,858
Cash Adjustments (3,339,577) 1,381,825 (2,232,403) -
Ending Cash Balance 4,156,004 5,865,858 6,223,909 (2,234,353) 7,237,567
Cash Reserves Target 3,743,569 4,192,370 5,052,411 7,905,328
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This fund accounts for the operation of the Parks & Recreation side of the Department of Venues, Parks & Arts (VPA). Its purpose is to provide quality spaces, places, and experiences within the City.
There are several operational divisions within the department: Administration, Maintenance, Golf Courses, Recreational Experiences, Community Programming, and Development & Promotions.
This fund's main source of revenue is property taxes. This fund also receives auto excise and commercial vehicle excise tax (intergovernmental shared revenues). Additional revenue is derived from
charges for services such as pavilion rental, golf course fees, concessions, and fees for camps, leagues, fitness centers, and special events. In 2019, this fund received a donation of $450,000 from the
Pokagon Band of the Potawatomi. It will be received annually through 2023. The Regional Cities Grant of $5 million dollars was completed in 2020. Interfund transfers from the Local Income Tax
Certified Shares Fund (#404) help subsidize operations.
Personnel - From 2021 to 2022, several personnel accounting changes will be made to better assign personnel costs to the divisions for which the employees serve (see the Personnel Summary for
more details). | Accounting Changes - Prior to 2022, the Recreation Division's budget accounted for the activities of recreational experiences and community programming. In 2022, the activities of
community programming will be split out into a separate division budget. Community programming includes the costs for running the City-owned community centers managed by VPA. The
Recreation Division will be renamed Recreational Experiences and its budget will include the costs for operating the O'Brien Fitness Center, Howard Park, along with VPA's athletics and aquatics
activities. | Capital - In 2019 and 2020, capital expenditures reflect the use of the Regional Cities, Leighton Foundation, and Pokagon Band funds for the Howard Park renovation project. The
decrease in capital expenditures reflects the substantial completion of the Howard Park renovation project and the use of the noted grants and donations.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Morris PAC / Palais Royale Marketing Fund Number 273
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 4,983 - - - - - - - -
Interest Earnings 453 43 - - - - - - -
Donations 500 - - - - - - - -
Total Revenue 5,936 43 - - - - - - -
Expenditures by Type
Services & Charges
Printing & Advertising 7,648 - - - - - - - - -
Total Services & Charges 7,648 - - - - - - - - -
Interfund Transfers Out - 74,852 - - - - - - - -
Total Expenditures 7,648 74,852 - - - - - - - -
Net Surplus / (Deficit) (1,712) (74,809) - - - - -
Beginning Cash Balance 74,809 76,521 74,809 74,809
Cash Adjustments 3,423 73,098 (74,809) (74,809)
Ending Cash Balance 76,521 74,809 - - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 9768-07) as a separate, non-reverting fund to receive monies from solicitation of funds for commercial promotion sponsorships such as commercial ads on ticket
envelopes and Morris Marquee sponsorships; and to accept donations to the Morris Performing Arts Center and Palais Royale. All sums so collected and deposited in this fund are to be used for the
sole purpose of assisting with continued promotions of and within both the Morris Performing Arts Center and Palais Royale.
In 2022, the Morris Performing Arts Center's operations will be moved into an enterprise fund due to the nature of the Morris' activities. The revenue and expenditures previously accounted for in this
fund will be moved to the newly created Morris Performing Arts Center Operations Fund (#602) and the remaining cash balance in this fund will be transferred to the new fund.
Revenue for this fund was collected through donations and sponsorships. This fund also received revenue from interest earned on the fund's cash balance.
Expenditures were for advertisements and promotional services. The City advertised on the local area digital billboards, but also secured sponsorships to help fund the advertising displayed on them.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Morris PAC Self-Promotion Fund Number 274
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 37,223 - - - - - - - -
Interest Earnings 1,355 150 - - - - - - -
Total Revenue 38,578 150 - - - - - - -
Expenditures by Type
Services & Charges
Printing & Advertising - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Interfund Transfers Out - 264,160 - - - - - - - -
Total Expenditures - 264,160 - - - - - - - -
Net Surplus / (Deficit) 38,578 (264,010) - - - - -
Beginning Cash Balance 264,010 225,432 264,010 264,010
Cash Adjustments (77,156) 302,588 (264,010) (264,010)
Ending Cash Balance 225,432 264,010 - - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10569-17) to account for the revenue and expenditures related to events and activities that the Morris Performing Arts Center self-promotes or self-sponsors.
In 2022, the Morris Performing Arts Center's operations will be moved into an enterprise fund due to the nature of the Morris' activities. The revenue and expenditures previously accounted for in this
fund will be moved to the newly created Morris Performing Arts Center Operations Fund (#602) and the remaining cash balance in this fund will be transferred to the new fund.
This fund received revenue from a ticket surcharge. The ticket surcharge fee is $3.50 per ticket sold: $1.50 deposited into the General Fund (#101), $1.00 deposited into Morris PAC Self-Promotion
Fund (#274), and $1.00 deposited into Morris PAC Capital Fund (#416). This fund also received revenue from interest earned on the fund's cash balance.
Expenditures were for marketing and advertising for the Morris Performing Arts Center.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2017 Parks Bond Debt Service Fund Number 312
Fund Type Debt Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 1,116,956 1,149,510 1,080,710 1,125,000 1,125,000 - - 1,125,000 0%
Intergov./ Shared Revenues 68,319 32,012 54,790 49,747 49,747 - - 49,747 0%
Interest Earnings 500 253 438 3,748 3,748 926 926 2,822 25%
Total Revenue 1,185,775 1,181,774 1,135,939 1,178,495 1,178,495 926 926 1,177,569 0%
Expenditures by Type
Services & Charges
Debt Service Principal 825,000 830,000 865,000 890,000 890,000 435,000 - 435,000 455,000 49%
Debt Service Interest & Fees 364,190 339,365 314,165 287,990 287,990 147,258 - 147,258 140,733 51%
Total Services & Charges 1,189,190 1,169,365 1,179,165 1,177,990 1,177,990 582,258 - 582,258 595,733 49%
Total Expenditures 1,189,190 1,169,365 1,179,165 1,177,990 1,177,990 582,258 - 582,258 595,733 49%
Net Surplus / (Deficit) (3,415) 12,409 (43,226) 505 505 (581,332) (581,332)
Beginning Cash Balance 184,163 187,578 184,163 184,163
Cash Adjustments 6,829 (15,824) 55,635 -
Ending Cash Balance 187,578 184,163 196,572 184,668 (427,986)
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10580-18) to collect a separate property tax levy that is used to pay for the semi-annual payment of debt service principal and interest to the bondholders of the
2017 Park District Bonds, Series A-K (debt schedule #165).
The par amount of the 2017 Park District Bonds, Series A-K was $14,075,000. The bonds were closed on December 20, 2017 and have a net interest rate of 3.056%. The net proceeds after bond
issuance costs were $13,715,350. This amount was deposited into the 2017 Parks Bond Capital Fund (#471) to be used towards the approved capital projects.
This fund receives property tax revenue (distributions received in June and December) from a levy that was previously collected in Fund #313 for the College Football Hall of Fame debt service (final
payment February 1, 2018). This fund also receives a small portion of auto excise and commercial vehicle excise tax.
The bonds are to be repaid over 15 with with debt service payments due on January 15 and July 15 and the final payment due January 15, 2033. Property taxes are assumed to come in to cover the
debt service payments through the life of the bond.
Capital expenditures related to this bond are tracked in the 2017 Parks Bond Capital Fund (#471).
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Coveleski Stadium Capital Fund Number 401
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services - 21,182 31,611 25,000 25,000 - - 25,000 0%
Interest Earnings 58 25 111 - - 17 17 (17) -
Total Revenue 58 21,207 31,722 25,000 25,000 17 17 24,983 0%
Expenditures by Type
Services & Charges
Repairs & Maintenance 10,183 17,784 33,159 40,000 40,000 3,124 11,920 15,044 24,956 38%
Total Services & Charges 10,183 17,784 33,159 40,000 40,000 3,124 11,920 15,044 24,956 38%
Capital - - - - - - - - - -
Total Expenditures 10,183 17,784 33,159 40,000 40,000 3,124 11,920 15,044 24,956 38%
Net Surplus / (Deficit) (10,125) 3,422 (1,437) (15,000) (15,000) (3,107) (15,027)
Beginning Cash Balance 814 11,685 814 814
Cash Adjustments 20,995 (14,293) 4,849 -
Ending Cash Balance 11,685 814 4,226 (14,186) 2,816
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 7492-85) to account for minor capital improvements for Four Winds Field at Coveleski Stadium, located in downtown South Bend. The fund is administered by
the Department of Venues, Parks & Arts.
Revenues are in the form of compensation received by the City based on stadium attendance.
Planned expenditures are for painting, landscaping, and mechanical upgrades.
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Professional Sports Convention Development Area Fund Number 413
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 775,414 2,082,741 2,055,414 5,000,000 5,000,000 1,276,681 1,276,681 3,723,319 26%
Interest Earnings 218 14,387 15,005 - - 1,490 1,490 (1,490) -
Total Revenue 775,632 2,097,128 2,070,419 5,000,000 5,000,000 1,278,171 1,278,171 3,721,829 26%
Expenditures by Type
Services & Charges
Debt Service Principal - - - 1,337,704 - - - - - -
Debt Service Interest & Fees - - - 1,586,755 - - - - - -
Interfund Transfers Out - - - - 366,418 100,097 74,532 174,629 191,789 48%
Total Services & Charges - - - 2,924,460 366,418 100,097 74,532 174,629 191,789 48%
Capital - 1,121,352 3,568,457 - 366,418 100,097 74,532 174,629 191,789 48%
Interfund Transfers Out 100,097 74,532 174,629 (174,629) -
Total Expenditures - 1,121,352 3,568,457 2,924,460 732,837 200,194 149,065 523,888 208,949 71%
Net Surplus / (Deficit) 775,632 975,776 (1,498,038) 2,075,540 4,267,163 1,077,976 (149,065) 754,283
Beginning Cash Balance 775,632 - 775,632 775,632
Cash Adjustments (1,551,263) (200,145) 2,188,709 -
Ending Cash Balance - 775,632 1,466,302 5,042,795 1,434,548
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:=SUMIF(TableCashBalanceByFund[Fund],R9C13,TableCashBalanceByFund[12/31/2021])
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
This fund was established in 2021 (Resolution 4917-21) to account for the reinstatement of the Professional Sports Convention Development Area (PSCDA) in downtown South Bend. The PSCDA
was originally established in 1997 (Resolution 2519-97) to fund debt service and improvements at the College Football Hall of Fame. The City received PSCDA tax revenue for the original area from
January 1998 through December 2017. The original PSCDA included the College Football Hall of Fame, Century Center, Four Winds Field at Stanley Coveleski Stadium, Morris Performing Arts
Center, Palais Royale Ballroom, and the Studebaker National Museum. The revised PSCDA expanded the tax area, adding the Aloft Hotel, the Courtyard by Marriott South Bend, Downtown, the
Doubletree Hotel, Howard Park including its Community Center and the Howard Park Public House, and the campus of Indiana University South Bend.
The Indiana Department of Revenue collects a portion of state sales tax and income taxes (covered taxes) generated in the professional sports convention development area (PSCDA). The taxes are
remitted on a monthly basis to St. Joseph County which remits it to the City of South Bend. The maximum amount of covered taxes that may be captured in the PSCDA is $2 million per year per IC
36-7-31.8-10(e). The allocation provisions shall expire July 1, 2041. Because this is a new source of tax revenue, the City is budgeting conservatively at $1.5 million per year.
The PSCDA tax revenue shall be used for capital improvements or financing of capital improvements for any facility that is owned by the City and is used as one of the following: a professional sports
franchise for practice or competitive sporting events, a facility used principally for convention or tourism related events, a museum, a facility used for public attractions of national significance, a
performing arts venue (IC 36-7-31.38-8 (a)(2)).
Initially, the City plans to use the PSCDA to fund capital improvements at Four Winds Field at Coveleski Stadium in downtown South Bend, a baseball stadium for the South Bend Cubs minor league
baseball team.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Morris Performing Arts Center Capital Fund Number 416
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues - - - - - - - - -
Charges for Services 37,223 - - - - - - - -
Interest Earnings 1,057 8,138 307 - - 52 52 (52) -
Reimbursements - - 378,872 - - - - - -
Debt Proceeds - 6,501,890 - - - - - - -
Interfund Transfers In 1,800,000 - - - - - - - -
Total Revenue 1,838,280 6,510,028 379,179 - - 52 52 (52) -
Expenditures by Type
Supplies 14,811 - - - - - - - - -
Services & Charges
Professional Services - 30,000 - - - - - - - -
Printing & Advertising 90 - - - - - - - - -
Repairs & Maintenance - - - - - - - - - -
Debt Service Interest & Fees - 359,274 - - - - - - - -
Total Services & Charges 90 389,274 - - - - - - - -
Capital 113,550 6,810,900 1,440,954 - 486,012 4,445 287,022 291,467 194,545 60%
Total Expenditures 128,451 7,200,174 1,440,954 - 486,012 4,445 287,022 291,467 194,545 60%
Net Surplus / (Deficit) 1,709,829 (690,145) (1,061,775) - (486,012) (4,393) (291,415)
Beginning Cash Balance 1,912,926 203,098 1,912,926 1,912,926
Cash Adjustments (3,419,657) 2,399,974 516,958 -
Ending Cash Balance 203,098 1,912,926 1,368,110 1,426,914 156,411
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 7292-84) to receive monies to be used solely for the purpose of renovating, remodeling, or otherwise improving the facilities of the Morris Performing Arts
Center (MPAC).
The Morris Performing Arts Center was re-opened in 2000 - Many of the assets throughout the building are coming to an end of their useful life and need replacement. The theatrical equipment is
outdated and needs to be upgraded to meet the requirements of the performances / acts renting the facility.
In 2022, the City issued bonds to fund capital improvement projects at the Morris. The South Bend Redevelopment Authority Lease Rental Revenue Bonds of 2022 were closed on March 2, 2022
with a par amount of $6,395,000 and a premium of $106,890. The net proceeds after bond issuance costs were $6.1 million. The bonds have a net interest rate of 3.064%. The bonds are backed by
hotel/motel tax revenue. The Hotel/Motel Tax Board pledged 0.50% of hotel/motel tax revenue towards the repayment of the bonds. The bonds will be repaid over a period of 25 years with the first
debt service payment due on August 1, 2022 and the final payment due on February 1, 2046. Debt service payments are tracked in the South Bend Redevelopment Authority Debt Service Fund
(#752).
Prior to 2022, this fund received revenue from a ticket surcharge fee of $1.00 per ticket sold at the Morris Performing Arts Center for qualified events (ordinance 9094-00). In 2022, the Morris
Performing Arts Center's operations will be moved into an enterprise fund due to the nature of the Morris' activities. The ticket surcharge revenue previously deposited into this fund will be moved to
the newly created Morris Performing Arts Center Operations Fund (#602). This fund also receives revenue from interest earned on the fund's cash balance.
In 2020, $175,579 was transferred from the General Fund (#101) to help fund the Morris ceiling repair.
The Morris is celebrating its 100 year anniversary in 2022 and is planning for major renovations consisting of certain energy savings improvements, renovations to the floor and seating, and other
improvements. Funding will be provided by donations to be raised by the Venues, Parks & Arts Foundation. Additionally, the City issued revenue bonds to help fund the capital improvements.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Palais Royale Historic Preservation Fund Number 450
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 12,078 14,235 15,594 14,500 14,500 4,006 4,006 10,494 28%
Interest Earnings 493 1,417 3,450 1,729 1,729 782 782 947 45%
Total Revenue 12,571 15,653 19,044 16,229 16,229 4,788 4,788 11,441 30%
Expenditures by Type
Services & Charges
Repairs & Maintenance - - - 20,000 20,000 - - - 20,000 0%
Total Services & Charges - - - 20,000 20,000 - - - 20,000 0%
Capital - - - - - - - - - -
Total Expenditures - - - 20,000 20,000 - - - 20,000 0%
Net Surplus / (Deficit) 12,571 15,653 19,044 (3,771) (3,771) 4,788 4,788
Beginning Cash Balance 93,481 80,911 93,481 93,481
Cash Adjustments (25,142) (3,082) (3,739) -
Ending Cash Balance 80,911 93,481 108,786 89,711 132,893
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 9706-06) for the sole purpose of assisting with the continued historic preservation, maintenance and repair of the Palais Royale building and related facilities.
This fund receives a 2% percent historic preservation charge assessed on all services provided in connection with the use and rental of Palais Royale facilities from functions held at the Palais
(excluding fund raising events presented by not-for-profits). This fund also receives revenue from interest earned on the fund's cash balance.
Repairs/improvements needed include wall repairs (interior and exterior), including painting, light fixtures, etc.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Zoo Bond Capital Fund Number 453
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings - 205 122 - - - - - -
Debt Proceeds - 5,891,800 - - - - - - -
Total Revenue - 5,892,006 122 - - - - - -
Expenditures by Type
Services & Charges
Debt Service Interest & Fees - 318,188 - - - - - - - -
Total Services & Charges - 318,188 - - - - - - - -
Capital - 1,105,985 4,467,955 - - 0 - 0 - -
Total Expenditures - 1,424,173 4,467,955 - - 0 - 0 - -
Net Surplus / (Deficit) - 4,467,833 (4,467,833) - - (0) (0)
Beginning Cash Balance - - - -
Cash Adjustments - (4,467,833) 8,935,665 -
Ending Cash Balance - - 4,467,833 - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Bond capital fund -
spend down to zero
This fund accounts for the expenditures of the bond proceeds from the Economic Development Lease Rental Revenue Bonds, Series 2022. The bonds were issued to fund a variety of projects in
furtherance of the Potawatomi Zoo's 30-year master plan. The Hotel/Motel Tax Board pledged 0.50% of hotel/motel tax revenue towards the repayment of the bonds. The bonds will be repaid over
a period of 20 years with the first debt service payment due on August 1, 2022 and the final payment due on February 1, 2042. Debt service payments are tracked in the South Bend Building
Corporation Debt Service Fund (#755).
Previously this fund was used to track the expenditures of the proceeds from the Economic Development Revenue Bonds, Series 2018. The bonds were issued to fund capital improvements at the
Zoo, including a modernized visitor center and various deferred maintenance improvements throughout the Zoo. The 2018 bond capital proceeds were fully spent in 2020.
The 2022 Zoo bonds were closed on March 2, 2022 with a par amount of $5,715,000 and a premium of $176,800. The net proceeds after bond issuance costs were $5,550,000. The bonds have a net
interest rate of 2.718%.
The 2018 Zoo bonds were closed on November 1, 2018 with a par amount of $3,440,000 and a premium of $346,189. The net proceeds after bond issuance costs were $3,702,814. The bonds have a
net interest rate of 3.78%.
The 2022 bonds were issued to finance the costs of the construction, expansion, renovation, equipping, furnishing and improving the Potawatomi Zoo, located at 500 Greenlawn Avenue, including
the following: (i) the renovation, construction and equipping of a new lion habitat to include new rock facade, new fencing and a new visitor viewing area; (ii) the construction, equipping and
furnishing of a new concession and dining facility in the North American portion of the Zoo, permitting visitors to view a newly constructed black bear habitat which will permit the introduction of a
new species for the Zoo; (iii) replacement of the existing corporate and family picnic area with a new covered pavilion along with a new kitchen area and new fencing, pathways and storage areas; (iv)
renovation of the North American animal habitats to meet modern Zoo standards including without limitation the construction and equipping of a new holding barn in the center and the installation
of new fencing and habitat esthetics; and (v) the construction and equipping of a new tiger habitat to meet current accreditation standards for zoos which will include the construction of a new,
modern habitat within a portion of Potawatomi Park land not currently being utilized by the Zoo.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2017 Parks Bond Capital Fund Number 471
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 31,461 45,200 43,384 - - 7,499 7,499 (7,499) -
Total Revenue 31,461 45,200 43,384 - - 7,499 7,499 (7,499) -
Expenditures by Series
Supported by Interest Earned - - - - - - - - - -
Series A - Howard Park - - - - - - - - - -
Series B - St. Louis Street - 21,539 3,881 - 400 - - - 400 0%
Series C - Colfax-Seitz 821,301 189,497 672 - 123 - - - 123 0%
Series D - Howard-Farmers 104,566 - 2,816 - - - - - - -
Series E - Miami-Twyckenham 97,564 8,218 15,000 - 10,000 - - - 10,000 0%
Series F - Seitz Park - 1,085,400 2,565 - 200 - - - 200 0%
Series G - East Race 2,230 543,907 465,962 - 267,485 267,485 - 267,485 - 100%
Series H - Pinhook Park 471,842 26,051 57,555 - 42,068 - 1,568 1,568 40,500 4%
Series I - Other Park Improv. 66,543 13,778 44,749 - 67,225 - 58,553 58,553 8,672 87%
Series J - Pinhook Connect 127,248 1,263 4,403 - 35,191 - 1,001 1,001 34,190 3%
Series K - Future Projects 3,917 304,899 182,721 - 412,005 - 5,291 5,291 406,714 1%
Total Expenditures 1,695,211 2,194,553 780,322 - 834,698 267,485 66,414 333,899 500,799 40%
Expenditures by Type
Services & Charges
Professional Services - 6,414 - - - - - - - -
Total Services & Charges - 6,414 - - - - - - - -
Capital 1,695,211 2,188,139 780,322 - 834,698 267,485 66,414 333,899 500,800 40%
Total Expenditures 1,695,211 2,194,553 780,322 - 834,698 267,485 66,414 333,899 500,800 40%
Net Surplus / (Deficit) (1,663,750) (2,149,352) (736,938) - (834,698) (259,986) (326,399)
Beginning Cash Balance 4,259,726 5,926,118 4,259,726 4,259,726
Cash Adjustments 3,330,142 482,960 (934,876) -
Ending Cash Balance 5,926,118 4,259,726 2,587,911 3,425,027 1,110,934
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Bond capital fund -
spend down to zero
This fund was established per the bond agreement in order to track the capital expenditures of the 2017 Park District Bonds, Series A-K. The bonds were issued to fund certain improvements in
connection with the MY SB Parks & Trails initiative.
The bonds will be repaid over a period of 15 years with the first debt service payment due on July 15, 2018 and the final payment due on January 15, 2033. Debt service payments are tracked in the
2017 Parks Bond Debt Service Fund (#312).
The par amount of the bonds was $14,075,000. The bond closing date was December 20, 2017. Net proceeds after bond issuance costs were deposited into this fund in the amount of $13,856,100.
This fund also receives revenue from interest earned on the fund's cash balance.
These are the various projects: Series A - Howard Park riverfront promenade, storm water habitat area | Series B - St. Louis Street parking and street upgrades (Howard Park) | Series C - Riverfront
trail upgrades - Colfax to Seitz Park | Series D - Riverfront trail upgrades - Howard Park to Farmer's Market | Series E - Riverfront trail upgrades - Miami to Twyckenham | Series F - Riverfront trail
upgrades - Seitz Park to Howard Park, Seitz Park parking | Series G - Seitz Park - AM General parking and plaza area, East Race promenade and bridge | Series H - Pinhook Park pavilion upgrade,
reconnect river flow to lagoon, playground and site improvements | Series I - Other Park Improvements - Park security, lighting, and storage - Restrooms modernization & ADA compliance | Series
J - Pinhook Park neighborhood connectivity | Series K - Future Projects - park acquisitions, partnerships, and build-outs
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Parking Garages Fund Number 601
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 905,346 778,176 842,422 1,110,288 1,110,288 68,454 68,454 1,041,834 6%
Fines, Forfeitures, and Fees 45,810 47,241 69,839 57,798 57,798 11,580 11,580 46,218 20%
Interest Earnings 4,803 11,309 22,813 9,775 9,775 3,246 3,246 6,529 33%
Other Income 71 3,404 - - - - - - -
Total Revenue 956,029 840,130 935,075 1,177,861 1,177,861 83,280 83,280 1,094,581 7%
Expenditures by Subdivisions
Parking Enforcement 3,992 607 80,623 233,434 233,434 34,812 - 34,812 198,622 15%
Parking General Operations 435,881 406,178 585,441 69,970 109,970 17,591 - 17,591 92,379 16%
Main Street Garage 109,357 180,396 210,216 299,423 299,473 33,750 2,450 36,200 263,273 12%
Leighton Plaza Garage 108,032 164,397 231,288 302,183 302,499 33,131 20 33,151 269,348 11%
Wayne Street Garage 67,306 140,760 154,644 298,586 258,586 1,815 - 1,815 256,771 1%
Eddy St Commons Garage - - - - - - - - - -
Total Expenditures 724,568 892,339 1,262,212 1,203,596 1,203,962 121,099 2,470 123,569 1,080,393 10%
Expenditures by Type
Personnel
Other Personnel Costs 172,990 286,156 197,293 - - - - - - -
Total Personnel 172,990 286,156 197,293 - - - - - - -
Supplies 21,389 22,310 29,259 21,564 21,880 660 20 680 21,199 3%
Services & Charges
Professional Services 164,606 18,974 636,076 906,235 875,235 66,225 - 66,225 809,010 8%
Utilities 101,784 101,206 114,917 - - 24,055 - 24,055 (24,055) -
Repairs & Maintenance 63,496 69,498 143,195 1,020 31,070 12,000 2,450 14,450 16,620 47%
Other Services & Charges 24,276 15,787 41,864 27,861 28,861 2,007 - 2,007 26,854 7%
Total Services & Charges 354,162 205,465 936,052 935,116 935,166 104,287 2,450 106,737 828,429 11%
Operating Expenditures 548,541 513,932 1,162,603 956,680 957,046 104,947 2,470 107,417 849,628 11%
Capital 14,248 275,068 - 150,000 150,000 - - - 150,000 0%
Interfund Allocations 161,738 103,285 99,609 96,916 96,916 16,153 - 16,153 80,764 17%
Total Expenditures 724,568 892,339 1,262,212 1,203,596 1,203,962 121,099 2,470 123,569 1,080,392 10%
Net Surplus / (Deficit) 231,462 (52,209) (327,138) (25,735) (26,100) (37,820) (40,290)
Beginning Cash Balance 907,380 674,268 907,380 907,380
Cash Adjustments (464,574) 285,321 284,719 -
Ending Cash Balance 674,268 907,380 864,961 881,279 469,272
Cash Reserves Target 907,380 223,085 315,553 300,990
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
25% of Annual expenditures
This fund was established (ordinance 5089-69) to account for the maintenance and operation of off-street parking facilities. This fund accounts for the revenues and expenditures from the various
parking garages owned by the City of South Bend. There are currently 1,484 stalls.
This fund receives revenue from the collection of daily and monthly parking fees at several downtown parking garages. Revenue dropped in 2020 due to the COVID-19 pandemic and less monthly
parkers as people worked from home. This fund also receives revenue from street parking fines. Effective January 2017, the Common Council approved an increase in parking garage rates and parking
enforcement fines. It was the first increase in 13 years.
Starting in 2021, parking garage operations are under outside contract with ASM Global. Wages and benefits for parking garage employees and supplies for the garages will be paid for by the City
directly rather than through a management fee. | Personnel - Includes the wages and benefits for parking garage employees who are hired and managed by ASM Global. | Supplies - Includes
building R&M supplies, uniforms, small tools & equipment, cleaning supplies, and office supplies. | Services - The professional services budget is for the management contract with ASM. The utilities
budget includes the cost of electric and water for the parking garages. Other services & charges includes elevator permits and credit card processing fees. | Capital - There are many capital
improvement needs. The forecast shows a smaller capital budget than in prior years due to revenue remaining fairly flat. | Interfund Allocation - This fund reimburses the Morris Performing Arts
Center Division (Fund #602) for 100% of costs of wages and benefits for the Manager-Facility Operations position.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Morris Performing Arts Center Operations Fund Number 602
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services - 1,028,252 988,672 1,587,871 1,587,871 133,660 133,660 1,454,210 8%
Donations - 8,750 - - - - - - -
Interest Earnings - 9,447 2,954 7,863 7,863 2,830 2,830 5,033 36%
Other Income - 58,561 172,449 50,636 50,636 4 4 50,632 0%
Interfund Allocation Reimb - 29,817 - - - - - - -
Interfund Transfers In - 939,012 - - - - - - -
Total Revenue - 2,073,839 1,164,076 1,646,369 1,646,369 136,493 136,493 1,509,875 8%
Expenditures by Subdivisions
Morris Performing Arts Center - 1,168,404 1,413,999 1,647,070 1,689,441 232,632 98,033 330,665 1,358,776 20%
Events Promotion - - - 85,000 85,000 - - - 85,000 0%
Total Expenditures - 1,168,404 1,413,999 1,732,070 1,774,441 232,632 98,033 330,665 1,443,776 19%
Expenditures by Type
Personnel
Salaries & Wages - 401,782 462,227 526,333 526,333 72,788 - 72,788 453,545 14%
Fringe Benefits - 165,552 176,654 236,392 235,192 29,118 - 29,118 206,074 12%
Total Personnel - 567,334 638,881 762,725 761,525 101,905 - 101,905 659,619 13%
Supplies - 25,631 32,647 33,388 33,388 11,107 2,513 13,619 19,769 41%
Services & Charges
Professional Services - 63,163 61,849 85,000 87,668 6,619 14,402 21,022 66,646 24%
Printing & Advertising - 52,191 74,137 178,637 185,019 10,407 40,923 51,331 133,689 28%
Utilities - 133,765 137,372 163,103 163,103 25,209 - 25,209 137,894 15%
Repairs & Maintenance - 56,533 66,555 110,000 139,568 8,634 34,099 42,733 96,835 31%
Education & Training - 2,413 3,718 4,590 5,259 4,710 169 4,879 380 93%
Travel - 5,775 4,341 6,120 6,120 - - - 6,120 0%
Other Services & Charges - 39,255 114,797 92,240 95,323 14,477 5,927 20,404 74,919 21%
Total Services & Charges - 353,095 462,767 639,690 682,060 70,056 95,521 165,577 516,483 24%
Operating Expenditures - 946,060 1,134,295 1,435,803 1,476,973 183,068 98,033 281,101 1,195,871 19%
Interfund
Interfund Allocations - 222,344 279,705 296,268 297,468 49,564 - 49,564 247,904 17%
Total Interfund - 222,344 279,705 296,268 297,468 49,564 - 49,564 247,904 17%
Total Expenditures - 1,168,404 1,413,999 1,732,070 1,774,441 232,632 98,033 330,665 1,443,775 19%
Net Surplus / (Deficit) - 905,436 (249,924) (85,701) (128,072) (96,138) (194,172)
Beginning Cash Balance - - - -
Cash Adjustments - (905,436) 249,924 -
Ending Cash Balance - - - (128,072) 558,364
Cash Reserves Target - 116,840 141,400 177,444
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
Cash Reserves Target
10% of Annual expenditures
In 2022, the operations of the Morris Performing Arts Center will be moved from the General Fund (#101) into this newly created enterprise fund. This fund will account for the operating costs of
the Morris Performing Arts Center in downtown South Bend, the premier performing arts center in this region of the country. It provides improved quality of life to the City's residents, serves as an
economic catalyst in the City, and fosters historic preservation of landmark City venues. The Morris Performing Arts Center (Morris PAC) is a division under the Department of Venues, Parks & Arts.
This Morris receives revenue from charges for services including facility rental, concessions, ticket handling fees, and more. This fund also receives revenue from a ticket surcharge fee of $3.50 per
ticket sold. Prior to 2022, the ticket surcharge fee was split across three funds: $1.50 was deposited into the General Fund (#101), $1.00 was deposited into the Morris Self-Promotion Fund (#274),
and $1.00 was deposited into the Morris Capital Fund (#416). The Morris receives an Interfund Allocation Reimbursement from the Parking Garage Fund (#601) for 100% of costs of wages and
benefits for the Manager-Facility Operations.
Personnel - The personnel budget includes the wages and benefits for nine (9) full-time employees, and $24k for part-time wages. | Supplies - The supplies budget includes uniforms, cleaning
supplies, repair & maintenance materials, small tools & equipment, and office supplies. | Services - The repair & maintenance budget includes HVAC and elevator maintenance, along with other
general building maintenance expenses. The utilities budget includes the costs of electric, natural gas, and water for the Morris. The printing & advertising budget is for the promotion of events at the
Morris. Professional services and printing & advertising are budgeted higher in 2022 than usual as the Morris is getting ready to celebrate its 100 year anniversary in 2022. | Capital - The Morris
Performing Arts Center's capital needs are accounted for in the Morris Capital Fund (#416).
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Historical Revenue by Fund
General Fund (#101) 1,736,453 54,878 - - - - - - - -
Morris Marketing (#273) 5,936 43 - - - - - - - -
Morris Self-Promotion (#274) 38,578 150 - - - - - - -
Morris Operations Fund (#602) - 2,073,839 1,164,076 1,646,369 1,646,369 136,493 136,493 1,509,876 8%
Total Revenue 1,780,967 2,128,910 1,164,076 1,646,369 1,646,369 136,493 136,493 1,509,876 8%
Revenue
Intergov./ Grants 992,163 - - - - - - - -
Charges for Services 696,886 1,028,252 988,672 1,587,871 1,587,871 133,660 133,660 1,454,210 8%
Interest Earnings 1,808 9,640 2,954 7,863 7,863 2,830 2,830 5,033 36%
Donations 500 8,750 - - - - - - -
Other Income 2,864 113,439 172,449 50,636 50,636 4 4 50,632 0%
Interfund Allocation Reimb 86,746 29,817 - - - - - - -
Interfund Transfers In - 939,012 - - - - - - -
Total Revenue 1,780,967 2,128,910 1,164,076 1,646,369 1,646,369 136,493 136,493 1,509,875 8%
Expenditures by Fund
General Fund (#101) 1,106,303 643,333 184 - - - - - - -
Morris Marketing (#273) 7,648 74,852 - - - - - - - -
Morris Self-Promotion (#274) - 264,160 - - - - - - - -
Morris Operations Fund (#602) - 1,168,404 1,413,999 1,732,070 1,774,441 232,632 98,033 330,665 1,443,776 19%
Total Expenditures 1,113,951 2,150,749 1,414,183 1,732,070 1,774,441 232,632 98,033 330,665 1,443,776 19%
Expenditures by Type
Personnel
Salaries & Wages 430,859 401,782 462,227 526,333 526,333 72,788 - 72,788 453,545 14%
Fringe Benefits 200,379 165,552 176,654 236,392 235,192 29,118 - 29,118 206,074 12%
Total Personnel 631,239 567,334 638,881 762,725 761,525 101,905 - 101,905 659,620 13%
Supplies 29,271 34,066 32,647 33,388 33,388 11,107 2,513 13,619 19,769 41%
Services & Charges
Professional Services 1,650 67,607 61,849 85,000 87,668 6,619 14,402 21,022 66,646 24%
Printing & Advertising 21,798 74,502 74,321 178,637 185,019 10,407 40,923 51,331 133,689 28%
Utilities 110,532 133,765 137,372 163,103 163,103 25,209 - 25,209 137,894 15%
Repairs & Maintenance 61,776 62,349 66,555 110,000 139,568 8,634 34,099 42,733 96,835 31%
Education & Training 3,224 2,438 3,718 4,590 5,259 4,710 169 4,879 380 93%
Travel 3,626 6,711 4,341 6,120 6,120 - - - 6,120 0%
Other Services & Charges 12,862 40,622 114,797 92,240 95,323 14,477 5,927 20,404 74,919 21%
Total Services & Charges 215,468 387,992 462,951 639,690 682,060 70,056 95,521 165,577 516,483 24%
Interfund
Interfund Allocations 237,973 222,344 279,705 296,268 297,468 49,564 - 49,564 247,904 17%
Interfund Transfers Out - 939,012 - - - - - - - -
Total Interfund 237,973 1,161,356 279,705 296,268 297,468 49,564 - 49,564 247,904 17%
Total Expenditures 1,113,951 2,150,749 1,414,183 1,732,070 1,774,441 232,632 98,033 330,665 1,443,776 19%
Net Surplus / (Deficit) 667,016 (21,838) (250,107) (85,701) (128,072) (96,138) (194,172)
Morris Performing Arts Center Historical Budget Summary - Fund 101, 273, 274, & 602
In 2022, the operations of the Morris Performing Arts Center will be moved from the General Fund (#101) into the newly created Morris Operations enterprise fund (#602). Also, the revenue and
expenditures formerly accounted for in the Morris Marketing Fund (#273) and the Morris Self-Promotion Fund (#274) will be moved into the new fund.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Century Center Operations Fund Number 670
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 637,500 1,675,000 1,275,000 1,275,000 1,275,000 - - 1,275,000 0%
Charges for Services 1,401,480 3,186,633 3,008,853 3,341,100 3,341,100 277,190 277,190 3,063,910 8%
Interest Earnings 54 677 8,476 - - 2,016 2,016 (2,016) -
Other Income 5,177 125,315 99,675 8,160 8,160 (11,097) (11,097) 19,257 -136%
Interfund Allocation Reimb 67,477 28,827 70,842 71,905 71,905 11,984 11,984 59,921 17%
Total Revenue 2,111,688 5,016,452 4,462,846 4,696,165 4,696,165 280,093 280,093 4,416,072 6%
Expenditures by Subdivisions
City Operations 1,246,312 1,229,534 1,197,943 1,655,029 1,675,629 224,651 29,197 253,848 1,421,781 15%
Food & Beverage Operations 1,702,069 2,874,119 2,930,880 3,012,827 3,012,827 443,921 - 443,921 2,568,906 15%
Total Expenditures 2,948,380 4,103,653 4,128,823 4,667,856 4,688,456 668,571 29,197 697,769 3,990,687 15%
Expenditures by Type
Personnel
Salaries & Wages 350,615 334,824 337,490 499,294 498,494 50,354 - 50,354 448,140 10%
Fringe Benefits 124,970 114,116 112,298 206,006 206,006 17,380 - 17,380 188,626 8%
Other Personnel Costs 730,187 1,113,680 1,241,993 1,227,917 1,227,917 253,456 - 253,456 974,461 21%
Total Personnel 1,205,772 1,562,621 1,691,781 1,933,217 1,932,417 321,189 - 321,189 1,611,227 17%
Supplies 551,277 1,064,660 950,670 1,170,394 1,170,528 85,703 710 86,413 1,084,115 7%
Services & Charges
Professional Services 107,162 179,143 198,618 102,000 102,826 33,707 1,170 34,878 67,948 34%
Printing & Advertising 543 - - - - - - - - -
Utilities 348,609 356,068 347,863 439,977 439,977 59,205 - 59,205 380,772 13%
Repairs & Maintenance 71,901 72,081 136,704 112,506 132,146 43,454 27,317 70,772 61,375 54%
Education & Training 428 - 799 200 200 - - - 200 0%
Travel 574 - - - - - - - - -
Insurance 48,906 50,834 73,264 53,040 53,040 13,988 - 13,988 39,052 26%
Other Services & Charges 268,797 476,332 476,549 542,405 542,405 66,804 - 66,804 475,601 12%
Total Services & Charges 846,920 1,134,458 1,233,797 1,250,128 1,270,594 217,158 28,488 245,646 1,024,948 19%
Operating Expenditures 2,603,968 3,761,739 3,876,248 4,353,739 4,373,539 624,050 29,197 653,248 3,720,290 15%
Interfund Allocations 247,195 241,226 252,575 206,298 207,098 44,521 - 44,521 162,577 21%
Interfund Transfers Out 97,217 100,688 - 107,819 107,819 - - - 107,819 0%
Total Interfund 344,412 341,914 252,575 314,117 314,917 44,521 - 44,521 270,396 14%
Total Expenditures 2,948,380 4,103,653 4,128,823 4,667,856 4,688,456 668,571 29,197 697,769 3,990,686 15%
Net Surplus / (Deficit) (836,692) 912,799 334,024 28,309 7,709 (388,478) (417,676)
Beginning Cash Balance 194,350 1,016,748 194,350 194,350
Cash Adjustments 1,659,091 (1,735,198) 417,555 -
Ending Cash Balance 1,016,748 194,350 945,928 202,059 750,361
Cash Reserves Target 737,095 1,025,913 1,032,206 1,172,114
194,349.94
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
The City has a contract with ASM Global (a company that specializes in venue management) for the food & beverage operations at the Century Center. The repair and maintenance operations are
handled by the City. | Personnel - The City's portion of the personnel budget includes the wages and benefits for seven (7) full-time employees, and $48k for part-time wages. These employees are
hired and managed by the City. Other Personnel Costs represents the wages and benefits for ASM Global employees working for the Century Center. | Supplies - The City's portion of the budget
includes supplies needed to maintain the Century Center such as cleaning supplies, repair & maintenance materials, office supplies, and other small operating supplies. ASM Global's portion of the
supplies budget ($1.1 million) includes supplies needed to operate the Century Center for events, such as food & beverage inventory. | Services - The repair & maintenance budget includes HVAC
and elevator maintenance, along with other general building maintenance expenses. The utilities budget includes the costs of electric, natural gas, and water for the Century Center. | Interfund
Transfers Out include transfers to the Century Center Energy Conservation Debt Service Fund (#672) to fund debt service payments.| Capital - See the Century Center Capital Fund (#671).
Cash Reserves Target
25% of Annual expenditures
This fund was established to account for the operating costs of Century Center, the City's convention center. The Century Center is a division of the Department of Venues, Parks & Arts. The
Century Center is located along the St. Joseph River in Downtown South Bend. It plays host to conventions and trade shows, conferences and meetings, weddings and receptions, plays, and concerts.
This fund receives Hotel/Motel tax, remitted to the City by St. Joseph County, and collects revenue for charges for services such as facility rent, catering, parking etc. Amount may change in years
going forward. Due to the COVID-19 pandemic, the Century Center was shut down for a several months during 2020. Revenue is expected to drop significantly for the foreseeable future as a result of
less events due to the pandemic.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Century Center Capital Fund Number 671
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 98 5,748 33,418 22,457 22,457 6,611 6,611 15,846 29%
Other Income - - - - - - - - -
Interfund Transfers In - - - - - - - - -
Intergov./ Shared Revenues - - 494,855 - - - - - -
Total Revenue 98 5,748 528,273 22,457 22,457 6,611 - 6,611 15,846 29%
Expenditures by Type
Services & Charges
Professional Services - - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Capital - - 415,617 35,000 296,636 31,283 222,614 253,897 42,739 86%
Total Expenditures - - 415,617 35,000 296,636 31,283 222,614 253,897 42,739 86%
Net Surplus / (Deficit) 98 5,748 112,656 (12,543) (274,179) (24,672) (247,286)
Beginning Cash Balance 983,710 983,612 983,710 983,710
Cash Adjustments (197) (5,650) (109,401) -
Ending Cash Balance 983,612 983,710 986,966 709,532 1,085,973
Cash Reserves Target 800,000 800,000 800,000 800,000
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established in 1989 for the purpose of providing preventative maintenance and improvement to the Century Center.
This fund receives revenue from interest earned on the fund's cash balance. The Century Center Board of Managers may transfer the annual net profit from the Century Center Operations Fund
(#670) into this fund; however, the City does not anticipate transfers in the next few years because revenue is expected to drop significantly for the foreseeable future as a result of less events due to
The Century Center's capital needs are being met by an allocation from the St. Joseph County Hotel/Motel Tax Board. These capital expenditures for the Century Center are paid directly from the
County budget and do not pass through the City's accounting system; therefore, these expenditures do not appear in the City's budget.
Cash Reserves Target
$800,000 Minimum per Board of Managers
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Century Center Energy Conservation Debt Svc Fund Number 672
Fund Type Debt Service Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 221,437 221,437 221,437 221,437 221,437 - - 221,437 0%
Interest Earnings 1,574 2,814 5,924 3,739 3,739 153 153 3,586 4%
Other Income 89,480 58,178 36,231 64,132 64,132 - - 64,132 0%
Interfund Transfers In 97,217 100,688 - 107,819 107,819 - - 107,819 0%
Total Revenue 409,708 383,117 263,591 397,127 397,127 153 153 396,974 0%
Expenditures by Type
Services & Charges
Debt Service Principal 291,274 297,175 313,180 309,315 309,315 - - - 309,315 0%
Debt Service Interest & Fees 115,437 105,192 94,738 84,073 84,073 - - - 84,073 0%
Total Expenditures 406,711 402,367 407,917 393,388 393,388 - - - 393,388 0%
Net Surplus / (Deficit) 2,997 (19,251) (144,326) 3,739 3,739 153 153
Beginning Cash Balance 196,702 193,705 196,702 196,702
Cash Adjustments (5,994) 22,248 124,587 -
Ending Cash Balance 193,705 196,702 176,962 200,441 33,109
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established in 2015 to account for debt service payments of the 2015 Century Center Energy Conservation bonds. The bond proceeds were used to make improvements at the Century
Center including a new solar panel roof and other energy efficiency projects.
This fund receives revenue, to fund the repayment of the debt, from the following sources: a pledge of Hotel/Motel tax revenue from St. Joseph County in the amount of $221,437 per year starting in
2018; interfund transfers from Century Center Operations Fund (#670); and a federally subsidized interest rebate of approximately 80% of interest paid. This fund also receives revenue from interest
The bonds will be paid off over a 15-year period with the final payment due on May 1, 2031.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name City Cemetery Fund Number 730
Fund Type Special Revenue Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 178 420 890 623 623 190 190 433 31%
Other Income - - - - - - - - -
Total Revenue 178 420 890 623 623 190 190 433 31%
Expenditures by Type
Services & Charges
Repairs & Maintenance - - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Capital - - - - - - - - - -
Total Expenditures - - - - - - - - - -
Net Surplus / (Deficit) 178 420 890 623 623 190 190
Beginning Cash Balance 30,218 30,041 30,218 30,218
Cash Adjustments (355) (243) (569) -
Ending Cash Balance 30,041 30,218 30,540 30,841 31,697
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10638-18) to provide perpetual care and maintenance for the South Bend City Cemetery.
Revenue was originally derived from the sale of cemetery plots and burial expenses. There are few sites available for sale and most plots are occupied, resulting in little burial activity. Currently, this
Expenses are for maintaining the City Cemetery. There are no expenditures budgeted for 2022. Appropriation requests for expenditures will be made as needed.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Bowman Cemetery Fund Number 731
Fund Type Special Revenue Fund Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 2,793 6,613 14,005 9,800 9,800 2,992 2,992 6,809 31%
Other Income - - - - - - - - -
Total Revenue 2,793 6,613 14,005 9,800 9,800 2,992 2,992 6,809 31%
Expenditures by Type
Services & Charges
Repairs & Maintenance - - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Capital - - - - - - - - - -
Total Expenditures - - - - - - - - - -
Net Surplus / (Deficit) 2,793 6,613 14,005 9,800 9,800 2,992 2,992
Beginning Cash Balance 475,369 472,576 475,369 475,369
Cash Adjustments (5,585) (3,820) (8,949) -
Ending Cash Balance 472,576 475,369 480,425 485,169 498,635
Cash Reserves Target 400,000 400,000 400,000 400,000
Fund Purpose:
Explanation of Expenditures and Significant Changes/Variances:
In 2018, the trust administered by Key Bank for the maintenance of the Bowman Cemetery was terminated. The funds held in the trust were transferred to the City for the City’s ongoing
responsibility to care for the Bowman Cemetery in perpetuity according to Indiana law. This fund was established by Ordinance No. 10638-18, dated December 10, 2018, to account for the
transferred funds and to budget for the expenses the City will incur in maintaining the Bowman Cemetery.
Currently, this fund only receives revenue from interest earned on the fund's cash balance.
Expenses will be for maintaining the Bowman Cemetery. There are no expenditures budgeted for 2022. Appropriation requests for expenditures will be made as needed.
Cash Reserves Target
$400,000 minimum
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2015 Parks Bond Debt Service Fund Number 757
Fund Type Debt Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 47 1,217 5,303 11,751 11,751 1,510 1,510 10,241 13%
Interfund Transfers In 375,986 373,724 338,293 368,381 368,381 61,397 61,397 306,984 17%
Total Revenue 376,033 374,941 343,596 380,132 380,132 62,907 62,907 317,225 17%
Expenditures by Type
Services & Charges
Debt Service Principal 225,000 230,000 240,000 240,000 240,000 120,000 - 120,000 120,000 50%
Debt Service Interest & Fees 149,381 142,556 135,581 128,381 128,381 65,091 - 65,091 63,291 51%
Total Expenditures 374,381 372,556 375,581 368,381 368,381 185,091 - 185,091 183,291 50%
Net Surplus / (Deficit) 1,652 2,385 (31,986) 11,751 11,751 (122,184) (122,184)
Beginning Cash Balance 587,763 586,111 587,763 587,763
Cash Adjustments (3,304) (733) 34,370 -
Ending Cash Balance 586,111 587,763 590,148 599,514 435,978
Cash Reserves Target 586,111 587,763 590,148 599,514
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the semi-annual payment of debt service principal and interest to the bondholders of the 2015 Parks Bond. The par amount of the bonds were $5,605,000. The debt service
reserve will be used towards the last debt service payment. The accounting records are maintained in trustee bank accounts. | Capital expenditures of this bond were tracked in the 2015 Parks Bond
Capital Fund (#751). The capital proceeds were fully expended in 2019.
The Local Income Tax Economic Development Fund (#408) transfers money into this fund on a monthly basis, as per the bond ordinance, to cover debt service payments. This fund also receives
revenue from interest earned on the cash balance at the trustee bank.
The semi-annual debt service payments are set forth in the 20-year debt amortization schedule (debt schedule #141) with the first payment made on February 1, 2016 and the final payment due on
August 1, 2035.
Cash Reserves Target
100% cash reserves per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Studebaker-Oliver Revitalizing Grants Fund Number 209
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants - - - - - - - - -
Interest Earnings 4,318 9,389 18,615 11,320 11,321 3,938 3,938 7,382 35%
Other Income - - - - - - - - -
Total Revenue 4,318 9,389 18,615 11,320 11,321 3,938 3,938 7,382 35%
Expenditures by Type
Services & Charges
Professional Services 75,182 41,621 25,658 50,000 98,331 525 48,331 48,856 49,475 50%
Total Services & Charges 75,182 41,621 25,658 50,000 98,331 525 48,331 48,856 49,475 50%
Capital - - - - - - - - - -
Total Expenditures 75,182 41,621 25,658 50,000 98,331 525 48,331 48,856 49,475 50%
Net Surplus / (Deficit) (70,864) (32,231) (7,043) (38,680) (87,010) 3,413 (44,917)
Beginning Cash Balance 692,248 763,112 692,248 692,248
Cash Adjustments 141,728 (38,633) (27,345) -
Ending Cash Balance 763,112 692,248 657,860 605,238 655,892
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
692247.88
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 9214-01) to account for various EPA grants relating to brownfields. Revenues and expenditures in this fund are grant and project specific and will vary from year
to year.
The EPA's Brownfields Program empowers states, communities, and other stakeholders to work together to prevent, assess, safely clean up, and sustainably reuse brownfields. A brownfield site is real
property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.
Past grant activity includes:
- Brownfields assessment grant: Hazardous substances grant funds and petroleum grant funds used to conduct Phase I and II environmental site assessments on a city-wide basis. Sites included a
former foundry site that is now a city park, a former railroad site in the Studebaker/Oliver project area, and sites in wellhead protection areas.
- Brownfields revolving loan fund grant: Grant used to capitalize a revolving loan fund from which the City of South Bend will provide loans and subgrants to support cleanup activities for sites
throughout the city that are contaminated with hazardous substances. Loans will be made based on an environmental prioritization process.
- Brownfields cleanup grant: Grant funds used to clean up the former Oliver Plow Works site. The site is part of the Studebaker/Oliver Plow Works Redevelopment Strategy, a phased approach for
eventually redeveloping the entire Studebaker and Oliver factories into two light industrial parks. Grant funds also will be used for remediation and post-cleanup reporting, and community
involvement activities.
This fund received grant monies in the past and currently only receives revenue from interest earned on the fund's cash balance.
Other income was derived from repayment from the River West TIF Fund (#324), with the last payment received in 2020.
Professional services include ground water testing and other ongoing costs related to the study and planning for the various brownfields. The City also participates in the Indiana Department of
Environmental Management's voluntary remediation program, and will continue using this fund in 2022 for those costs.
Cash Reserves Target
No reserve requirement - Grant fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Economic Development State Grants Fund Number 210
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 41,015 126,822 85,650 - - 42,699 42,699 (42,699) -
Interest Earnings 160 51 - - - - - - -
Other Income 36,005 - - - - - - - -
Total Revenue 77,180 126,873 85,650 - - 42,699 42,699 (42,699) -
Expenditures by Type
Supplies - 9,000 - - - - - - - -
Services & Charges
Professional Services 438 (46,845) - - 137,695 - 40,263 40,263 97,433 29%
Repairs & Maintenance - 246,637 144,348 - 8,770 - - - 8,770 0%
Debt Service Principal 35,604 - - - - - - - - -
Debt Service Interest & Fees 401 - - - - - - - - -
Grants & Subsidies 41,015 20,845 - - 65,000 - - - 65,000 0%
Other Services & Charges - - - - 11,400 - - - 11,400 0%
Total Services & Charges 77,457 220,637 144,348 - 222,865 - 40,263 40,263 182,603 18%
Total Expenditures 77,457 229,637 144,348 - 222,865 - 40,263 40,263 182,603 18%
Net Surplus / (Deficit) (277) (102,763) (58,698) - (222,865) 42,699 2,437
Beginning Cash Balance 26,876 27,154 26,876 26,876
Cash Adjustments 555 102,485 (44,080) -
Ending Cash Balance 27,154 26,876 (75,903) (195,989) (91,902)
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund receives grant monies and revenue from interest earned on the fund's cash balance.
Past expenditures include demolition of vacant and abandoned houses/lots, equipment for the Ignition Park/ND Turbo project, and debt service payments to the Indiana Development Finance
Authority for a loan for the Indiana Brownfields Program with final payment in 2021. Current expenses are related to the State Lead Grant program.
Cash Reserves Target
No reserve requirement - Grant fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Dept of Community Investment Operating Fund Number 211
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 9,200 - 229,133 - - - - - -
Charges for Services 1,453,279 691,646 266,888 831,849 831,849 12,700 12,700 819,149 2%
Fines, Forfeitures, and Fees 57,904 70,178 92,005 58,450 58,450 11,191 11,191 47,259 19%
Interest Earnings 6,023 3,006 (92) 1,463 1,463 363 363 1,100 25%
Other Income 573 2,750 24,565 - - - - - -
Interfund Allocation Reimb 145,765 181,981 - - - - - - -
Interfund Transfers In 500,000 2,570,000 3,778,841 4,250,000 4,250,000 263,000 263,000 3,987,000 6%
Total Revenue 2,172,743 3,519,561 4,391,340 5,141,762 5,141,762 287,254 287,254 4,854,508 6%
Expenditures by Type
Personnel
Salaries & Wages 1,779,295 2,080,766 1,854,286 2,230,843 2,230,843 355,705 - 355,705 1,875,138 16%
Fringe Benefits 649,973 764,431 831,403 911,401 911,401 130,343 - 130,343 781,059 14%
Total Personnel 2,429,268 2,845,197 2,685,689 3,142,244 3,142,244 486,048 - 486,048 2,656,197 15%
Supplies 20,424 33,616 29,510 51,611 53,190 3,205 2,244 5,449 47,741 10%
Services & Charges
Professional Services 196,969 303,797 496,648 459,200 917,074 38,306 504,607 542,913 374,161 59%
Printing & Advertising 4,758 5,797 12,182 23,675 25,942 3,660 6 3,666 22,276 14%
Education & Training 14,288 5,447 6,663 23,500 25,475 1,360 1,225 2,585 22,890 10%
Travel 268 7,763 8,342 21,662 22,427 338 427 765 21,662 3%
Repairs & Maintenance 2,822 1,367 1,302 3,895 3,895 - - - 3,895 0%
Other Services & Charges 24,660 26,286 16,044 25,550 31,550 7,521 6,000 13,521 18,029 43%
Total Services & Charges 243,765 350,457 541,181 557,482 1,026,363 51,185 512,265 563,450 462,913 55%
Operating Expenditures 2,693,456 3,229,270 3,256,381 3,751,337 4,221,797 540,438 514,509 1,054,947 3,166,851 25%
Bad Debt - - - - - - - - - -
Interfund
Interfund Allocations 652,726 665,860 758,702 841,937 841,937 141,202 - 141,202 700,735 17%
Interfund Transfers Out 50,000 - - - - - - - - -
Total Interfund 702,726 665,860 758,702 841,937 841,937 141,202 - 141,202 700,735 17%
Total Expenditures 3,396,182 3,895,130 4,015,082 4,593,274 5,063,734 681,640 514,509 1,196,149 3,867,586 24%
Net Surplus / (Deficit) (1,223,439) (375,569) 376,258 548,488 78,028 (394,386) (908,895)
Beginning Cash Balance 394,125 1,629,498 394,125 394,125
Cash Adjustments 2,458,812 (859,803) (747,087) -
Ending Cash Balance 1,629,498 394,125 23,296 472,153 434
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10060-10) to account for the activities of the Department of Community Investment (DCI). DCI's mission is to spur investment in a stronger South Bend by
attracting & retaining growing businesses, connecting residents to economic opportunities, and planning for vibrant neighborhoods.
This fund is mainly supported by interfund transfers from the Local Income Tax Economic Development Fund (#408). Therefore, there is no cash reserve requirement in this fund as it is supported
by interfund transfers and does not need to carry a cash balance. This fund also receives revenue from federal grants and staff contracts. Starting in 2020, the wages and benefits for two Zoning staff
are allocated back to the Building Department (Fund #600). This revenue is represented as an interfund allocation reimbursement transferred from Fund #600.
In 2021, two new positions were added to the Business Development team to support the newly awarded Revolving Loan Fund Grant as part of the Coronavirus Aid, Relief, and Economic Security
Act (CARES Act). These positions will handle all loan applications and processing through closing. The positions are fully funded by grant revenue. Since 2019 there have been transition efforts to
consolidate the Building and Code Enforcement departments, as well as the division of Sustainability, into DCI. In 2022, those consolidation efforts will be finalized and result in a reorganization of
staff and reporting structures. In addition, several new or expanded initiatives will be added to DCI to facilitate the goals of the American Rescue Plan. Within the new structure there are five teams:
(1) Engagement and Economic Empowerment; (2) Growth and Opportunity: formerly Business Development; (3) Neighborhoods: includes South Bend Animal Resource Center, Neighborhood
Services & Enforcement (formerly the Department of Code Enforcement), Neighborhood Grants, and Neighborhood Health and Housing; (4) Planning: includes Building, Historic Preservation,
Planning, and Zoning; (5) Sustainability. | Note: In 2022, the Sustainability Division will be moved from the General Fund (#101) into this fund as it will now be part of the Department of
Community Investment.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Dept of Community Investment Grants Fund Number 212
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 2,563,504 2,419,448 5,559,168 2,712,968 2,712,968 271,638 271,638 2,441,330 10%
Fines, Forfeitures, and Fees 500 - - - - - - - -
Other Income 341,376 71,243 15,178 119,687 119,687 5,530 5,530 114,157 5%
Total Revenue 2,905,379 2,490,691 5,574,346 2,832,655 2,832,655 277,168 277,168 2,555,487 10%
Expenditures by Type
Services & Charges
Professional Services 10,343 19,785 - - 229,385 - 39,265 39,265 190,120 17%
Grants & Subsidies 2,801,228 2,804,158 4,310,457 2,832,655 10,057,460 64,764 2,521,107 2,585,870 7,471,590 26%
Total Services & Charges 2,811,571 2,823,943 4,310,457 2,832,655 10,286,845 64,764 2,560,372 2,625,135 7,661,710 26%
Total Expenditures 2,811,571 2,823,943 4,310,457 2,832,655 10,286,845 64,764 2,560,372 2,625,135 7,661,710 26%
Net Surplus / (Deficit) 93,809 (333,251) 1,263,889 - (7,454,190) 212,404 (2,347,967)
Beginning Cash Balance 409,818 313,907 409,818 409,818
Cash Adjustments (189,719) 429,162 (1,829,591) -
Ending Cash Balance 313,907 409,818 (155,885) (7,044,372) 1,457,397
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources, Expenditures, and Significant Changes/Variances:
Special allocations of CDBG and ESG awarded under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) are separate from regular allocations and are accounted for in the COVID-
19 Response Fund (#264).
This fund accounts for the receipt and subsequent expenditure of grants received from the U.S. Department of Housing and Urban Development related to community improvement projects. This
fund accounts for various grants including:
Community Development Block Grant (CDBG) - CDBG funds can be used for a variety of community development opportunities such as providing affordable housing, a suitable living
environment, and economic opportunities for individuals and families with incomes below 80 percent of the area median income. CDBG funds can also be used for the elimination of slum and blight.
Emergency Solutions Grant (ESG) - The ESG Program provides homeless persons with basic shelter and essential supportive services. It can assist with operational costs of the shelter facility, and
for the administration of the grant.
Neighborhood Stabilization Project (NSP) - Congress created the Neighborhood Stabilization Program to help cities, counties and states deal with community problems that are the result of the
mortgage foreclosure crisis in the nation. HUD provides money to local governments (cities and counties), nonprofits, and all 50 states. Generally, the money must be used to buy, fix up, and resell
foreclosed and abandoned homes. NSP grantees develop their own programs and funding priorities. However, NSP grantees must use at least 25 percent of the funds appropriated for the purchase
and redevelopment of abandoned or foreclosed homes or residential properties that will be used to house individuals or families whose incomes do not exceed 50 percent of the area median income.
In addition, all activities funded by NSP must benefit low- and moderate-income persons whose income does not exceed 120 percent of area median income. Activities may not qualify under NSP
using the "prevent or eliminate slums and blight" or "address urgent community development needs" objectives.
Cash Reserves Target
No reserve requirement - Grant fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Unsafe Building Fund Number 219
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Fines, Forfeitures, and Fees 34,066 68,583 68,515 62,900 62,900 11,135 11,135 51,765 18%
Interest Earnings 4,812 11,010 24,876 17,984 17,984 5,436 5,436 12,547 30%
Other Income - 366 - - - - - - -
Total Revenue 38,879 79,960 93,390 80,884 80,884 16,572 16,572 64,312 20%
Expenditures by Type
Supplies - - - - - - - - - -
Services & Charges
Professional Services 25,970 20,000 17,500 23,000 24,880 2,600 (720) 1,880 23,000 8%
Other Services & Charges 81,316 - - - - - - - - -
Total Services & Charges 107,286 20,000 17,500 23,000 24,880 2,600 (720) 1,880 23,000 8%
Operating Expenditures 107,286 20,000 17,500 23,000 24,880 2,600 (720) 1,880 23,000 8%
Bad Debt - - - - - - - - - -
Total Expenditures 107,286 20,000 17,500 23,000 24,880 2,600 (720) 1,880 23,000 8%
Net Surplus / (Deficit) (68,407) 59,960 75,890 57,884 56,004 13,972 14,692
Beginning Cash Balance 764,981 832,938 764,981 764,981
Cash Adjustments 136,365 (127,917) (18,580) -
Ending Cash Balance 832,938 764,981 822,291 820,985 915,000
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement
The Unsafe Building Fund was established in 2016 (ordinance 10416-16) to receive fines and fees related to Indiana's Unsafe Building law (IC 36-7-9). The expenses incurred for board-ups,
demolitions, ordinance violation abatements, and other related services are recorded here. The Unsafe Building Fund is an extension of the Neighborhoods Division and shares the same mission to
ensure a safe and clean community by upholding and enforcing the ordinances of the City of South Bend, the Indiana Unsafe Building Law, and the 2000 International Property Maintenance Code.
Code Enforcement not only cites neglected properties through its team of inspectors, it also pursues citizens' complaints, partners with volunteer neighborhood associations for neighborhood clean-
ups, and works directly through community outreach programs to enrich the City of South Bend's neighborhoods.
Note: In 2021, the Department of Code Enforcement was brought under the Department of Community Investment (DCI) and was renamed the Neighborhoods Division. The Unsafe Building Fund
is managed by the Neighborhoods Division which facilitates code enforcement activities.
This fund receives revenue from fines and fees relating to Unsafe Building laws including the following sources: vacant and abandoned registrations, board-ups, demolitions, forfeited performance
bonds, special assessments, and civil penalties.
Budgeted expenditures includes emergency demolitions and expenses associated with monitoring unsafe building concerns.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Rental Units Regulation Fund Number 221
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Fines, Forfeitures, and Fees 6,880 45,048 150,899 100,000 100,000 16,090 16,090 83,910 16%
Interest Earnings 728 1,596 5,230 1,861 1,861 1,283 1,283 578 69%
Interfund Transfers In 50,000 70,000 - - - - - - -
Total Revenue 57,608 116,643 156,129 101,861 101,861 17,373 17,373 84,488 17%
Expenditures by Type
Personnel
Salaries & Wages 106,421 52,636 42,182 - - 6,989 - 6,989 (6,989) -
Fringe Benefits 52,625 26,263 21,718 - - 3,597 - 3,597 (3,597) -
Total Personnel 159,046 78,899 63,900 - - 10,587 - 10,587 (10,586) -
Supplies 236 - - - - - - - - -
Services & Charges
Professional Services - 985 1,475 54,000 206,211 - 152,211 152,211 54,000 74%
Other Services & Charges - - - - - - - - - -
Total Services & Charges - 985 1,475 54,000 206,211 - 152,211 152,211 54,000 74%
Total Interfund - - - - 36 - - - -
Total Expenditures 159,283 79,884 65,375 54,000 206,211 10,622 152,211 162,798 43,414 79%
Net Surplus / (Deficit) (101,674) 36,760 90,754 47,861 (104,350) 6,751 (145,424)
Beginning Cash Balance 87,416 189,090 87,416 87,416
Cash Adjustments 203,349 (138,434) (54,644) -
Ending Cash Balance 189,090 87,416 123,526 (16,934) 217,363
Cash Reserves Target - - - -
Fund Purpose:
RSVP Program:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This fund accounts for the revenues and expenditures related to the Landlord Registration ordinance (10427-16) and the Rental Safety Verification Program (RSVP) ordinance (10644-19). Both of
these programs are managed by the Neighborhoods Division of the Department of Community Investment (DCI).
Revenue generation for the Rental Safety Verification Program (RSVP) is derived from follow up re-inspection fees and assessments for noncompliance. First and second inspections will have no
charges; however, if not compliant after the second inspection, there will be charges requiring follow up inspections to validate compliance. Because this program is new, revenue could vary greatly
from current estimates. A transfer from the Local Income Tax Economic Development Fund (#408) will make up the difference.
Prior to the Rental Safety Verification Program (RSVP), proceeds from the landlord registration ($5 registration fee per year) were intended to fund Neighborhood Code Enforcement's costs of the
program. However, previous guidelines for landlord registrations will be integrated into RSVP while working with landlords.
This budget accounts for the operating costs of the Rental Safety Verification Program (RSVP) | Personnel - The personnel budget includes the wages and benefits for four (4) full-time Code
Inspectors assigned to the program. From 2019 to 2020, two additional Code Inspectors were added to expand the program for a total of four Code Inspectors. | Supplies - The supplies needed for
the RSVP program are minimal and will be paid out of the Code Enforcement Fund (#230) starting in 2022 since many of the supplies are shared within the Neighborhoods Division. | Services -
$54,000 is budgeted for a professional services agreement for temporary housing and security deposits to move tenants if their unit is condemned and the owner doesn't have another unit for the
tenant.
Cash Reserves Target
No reserve requirement
The Rental Safety Verification Program (RSVP) requires an occupancy inspection of all real property or rental units that are intended to be occupied or are occupied by anyone other than the owner.
This program is designed to ensure all City of South Bend rental units meet the minimum property standards of the International Property Maintenance Code, which are incorporated into Chapter 6-
Article 14 of the City's municipal code. Once the rental unit has been inspected with an Inspection Report and approved for occupancy, an Inspection Certificate shall be issued by the Department
authorizing the rental unit to be occupied. The purpose of the Inspection Report and Inspection Certificate issued to the owner or the property manager (if applicable) is to verify that the rental unit is
safe and habitable for occupancy with respect to: electrical systems, plumbing systems, water and sanitary system, including hot water, heating and ventilation systems, bathroom, toilet facilities, doors,
windows, stairways, hallways, functioning smoke detectors, lead hazards, indoor air quality, and the overall structure in which a rental unit is established.
Note: In 2021, the Department of Code Enforcement was brought under the Department of Community Investment (DCI) and was renamed the Neighborhoods Division. The Rental Units
Regulation Fund is managed by the Neighborhoods Division which facilitates code enforcement activities.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Code Enforcement Fund Number 230
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Licenses & Permits 43,555 28,750 23,580 37,000 37,000 3,270 3,270 33,730 9%
Charges for Services 47,624 53,545 43,575 50,300 50,300 6,020 6,020 44,280 12%
Fines, Forfeitures, and Fees 411,114 292,490 301,742 342,000 342,000 23,191 23,191 318,809 7%
Interest Earnings 941 1,439 1,261 - - 338 338 (338) -
Debt Proceeds 235,000 500,000 232,000 300,000 300,000 - - 300,000 0%
Other Income 2,998 50,120 19,515 500 500 5,053 5,053 (4,553) 1011%
Interfund Allocation Reimb 34,708 - - - - - - - -
Interfund Transfers In 2,290,000 2,930,968 3,298,000 5,970,000 5,970,000 1,006,000 1,006,000 4,964,000 17%
Total Revenue 3,065,940 3,857,313 3,919,673 6,699,800 6,699,800 1,043,871 1,043,871 5,655,928 16%
Expenditures by Subdivisions
Neighborhood Services 2,420,819 2,843,929 3,247,961 5,376,573 5,834,539 455,431 182,715 638,146 5,196,393 11%
Animal Resource Center 949,115 941,390 1,148,773 1,232,692 1,307,230 195,271 77,828 273,100 1,034,130 21%
Total Expenditures 3,369,933 3,785,320 4,396,734 6,609,265 7,141,768 650,702 260,543 911,245 6,230,523 13%
Expenditures by Type
Personnel
Salaries & Wages 1,410,684 1,341,301 1,808,248 2,728,936 2,728,936 213,282 - 213,282 2,515,654 8%
Fringe Benefits 575,669 543,091 523,537 1,281,600 1,281,600 87,167 - 87,167 1,194,433 7%
Total Personnel 1,986,353 1,884,392 2,331,786 4,010,536 4,010,536 300,448 - 300,448 3,710,087 7%
Supplies 110,837 142,735 212,692 235,347 242,774 19,831 18,474 38,305 204,469 16%
Services & Charges
Professional Services 67,185 64,822 119,532 140,300 205,515 15,478 71,681 87,159 118,356 42%
Printing & Advertising 11,260 19,060 11,387 22,147 22,147 1,662 - 1,662 20,485 8%
Utilities 32,310 35,837 35,422 41,389 41,389 6,399 - 6,399 34,990 15%
Repairs & Maintenance 137,334 232,670 129,650 424,900 473,600 31,951 35,445 67,396 406,204 14%
Education & Training 4,013 5,305 7,627 29,900 30,547 2,329 475 2,804 27,744 9%
Travel 777 1,360 6,641 26,400 27,240 4,341 2,938 7,278 19,961 27%
Other Services & Charges 112,003 123,694 199,211 146,800 179,417 21,328 33,489 54,818 124,600 31%
Debt Service Principal 90,535 181,470 207,530 243,217 243,217 80,115 - 80,115 163,101 33%
Debt Service Interest & Fees 4,350 5,625 13,571 20,899 20,899 5,012 - 5,012 15,887 24%
Total Services & Charges 459,767 669,841 730,571 1,095,952 1,243,971 168,616 144,028 312,644 931,328 25%
Operating Expenditures 2,556,956 2,696,968 3,275,049 5,341,835 5,497,280 488,895 162,501 651,397 4,845,884 12%
Bad Debt 15 - 270 - - - - - - -
Interfund Allocations 763,484 767,616 848,209 967,430 967,430 161,807 - 161,807 805,623 17%
Total Expenditures 3,369,933 3,785,320 4,396,734 6,609,265 7,141,768 650,702 260,543 911,245 6,230,524 13%
Net Surplus / (Deficit) (303,993) 71,993 (477,061) 90,535 (441,968) 393,169 132,626
Beginning Cash Balance 497,492 803,572 497,492 497,492
Cash Adjustments 610,073 (378,073) 477,064 -
Ending Cash Balance 803,572 497,492 497,495 55,523 381,129
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This fund accounts for the administrative costs for the Neighborhoods Division along with operational costs such as repair & maintenance of Code Inspector trucks and vehicles used by the NEAT
Crew, and the operational costs of running the Animal Resource Center (SBARC). | Personnel - The personnel budget includes the wages and benefits for twenty (20) full-time Neighborhood
Services employees and nine (9) full-time Animal Resource Center employees, along with a budget for part-time and seasonal/intern wages. | Supplies - Includes uniforms, small tools & equipment
for inspectors, fuel for inspectors' vehicles, medical/safety supplies, and operating supplies for SBARC such as animal feed and cleaning supplies. | Services - Professional services include
environmental testing, Code Hearing Officer, collection costs, and veterinary services for SBARC. Repair & maintenance includes vehicle R&M for inspectors' vehicles, building R&M for SBARC, and
a $225k agreement with the Park Maintenance Division for mowing of properties cited for grass and weeds. Other services & charges includes $400k for landfill dumping fees for illegal dumps and
neighborhood cleanups. Includes four (4) tire disposal amnesty days for neighborhood dumpster and disposal fees ($90k), and trash/litter campaign monthly per six (6) Council districts cleanup
($200k). | Debt Service - The principal and interest expense budgeted is for capital lease payments for vehicles.
This fund was established in 2020 to account for the activity of the Neighborhoods Division of the Department of Community Investment (DCI). Operating under the Neighborhoods
Division is Neighborhood Code Enforcement (NCE), the South Bend Animal Resource Center (SBARC), and Neighborhood Enforcement Action Team (NEAT). NCE upholds and enforces the
ordinances of the City of South Bend, the Indiana Unsafe Building Law, and the 2000 International Property Maintenance Code. SBARC runs the animal resource center (aka animal shelter) and
enforces animal welfare laws regarding animal cruelty and neglect per City, State, and Federal regulations. NEAT works in tandem with NCE to provide services for environmental clean-ups to
homeowners and/or businesses. These clean-ups consist of illegal dumping of household items, tires, building materials, appliances, and any other form of litter and debris. Additional fines may be
assessed for failure to comply upon notification.
Note: In 2021, the Department of Code Enforcement was brought under the Department of Community Investment (DCI) and was renamed the Neighborhoods Division.
Neighborhood Code Enforcement collects revenues from fees for environmental clean-ups, processing abandoned vehicles, and ordinance violations. The South Bend Animal Resource Center
(SBARC) collects revenues from fees for animal shelter activities such as adoption fees, pet licenses, pet microchipping, and animal surrender fee. SBARC also collects fines it assesses for animal
welfare ordinance violations. These revenues do not cover the expenditures of these activities. The difference is covered by an interfund transfer from the Local Income Tax Economic Development
Fund (#408).
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Urban Development Action Grant Fund Number 410
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 172 4,046 8,846 - - 417 417 (417) -
Other Income 18,278 385,577 - - - - - - -
Total Revenue 18,449 389,623 8,846 - - 417 417 (417) -
Expenditures by Type
Services & Charges
Debt Service Principal 24,000 18,000 338,253 - - - - - - -
Other Services & Charges - - -
Total Expenditures 24,000 18,000 338,253 - - - - - - -
Net Surplus / (Deficit) (5,551) 371,623 (329,407) - - 417 417
Beginning Cash Balance 27,182 32,733 27,182 27,182
Cash Adjustments 11,101 (377,174) 699,742 -
Ending Cash Balance 32,733 27,182 397,517 27,182 69,531
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was originally established to account for economic development expenditures which are financed by federal grants and loan repayments.
Revenue comes from Business Development Corporation (BDC) repayment of Fund 410 miscellaneous revenue used to capitalize BDC loan pool. This fund also receives revenue from interest
earned on the fund's cash balance.
Currently, this fund is used for the repayment of an interfund loan from the Local Income Tax-Certified Shares Fund (#404) in connection with a downtown hotel/parking garage project. The final
payment is due in 2022 (debt schedule #82). When the final revenue payment is due from BDC, it may be prudent to payoff the debt to Fund #404 and potentially close this fund rather than
following current amortization schedule which goes out to 2046. Payments in future years will be made as BDC loan collections are received. The BDC loan collections have been remitted at rates less
than the current amortization schedule depicts due to poor portfolio performance and as such may require an amendment to the debt schedule.
Cash Reserves Target
No reserve requirement - Grant fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Consolidated Building Fund Number 600
Fund Type Enterprise Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Licenses & Permits 1,515,351 1,886,287 2,099,002 1,594,100 1,594,100 246,616 246,616 1,347,485 15%
Fines, Forfeitures, and Fees 2,516 5,860 13,890 8,000 8,000 764 764 7,236 10%
Interest Earnings 12,194 28,301 56,845 23,701 23,701 12,536 12,536 11,165 53%
Other Income 1,044 2,105 5,831 - - 200 200 (200) -
Capital Lease Proceeds - - - - - - - - -
Total Revenue 1,531,105 1,922,553 2,175,568 1,625,801 1,625,801 260,115 260,115 1,365,686 16%
Expenditures by Type
Personnel
Salaries & Wages 739,269 788,291 830,167 941,465 941,465 128,444 - 128,444 813,021 14%
Fringe Benefits 319,458 343,343 347,728 439,914 440,264 58,751 350 59,101 381,162 13%
Total Personnel 1,058,727 1,131,634 1,177,895 1,381,379 1,381,729 187,195 350 187,545 1,194,183 14%
Supplies 15,666 25,192 22,819 22,338 22,338 3,537 - 3,537 18,801 16%
Services & Charges
Professional Services - - - 8,000 8,000 - - - 8,000 0%
Printing & Advertising 716 161 - 4,200 4,200 - - - 4,200 0%
Education & Training 219 3,413 5,867 6,000 6,000 2,191 - 2,191 3,809 37%
Travel - 9 - 6,000 6,000 - - - 6,000 0%
Repairs & Maintenance 28,086 27,699 30,349 17,590 17,590 4,907 - 4,907 12,683 28%
Other Services & Charges 18,348 28,286 578,003 37,570 37,570 4,261 - 4,261 33,309 11%
Debt Service Principal 43,020 23,593 4,673 - - - - - - -
Debt Service Interest & Fees 1,316 526 49 - - - - - - -
Total Services & Charges 91,705 83,687 618,941 79,360 79,360 11,360 - 11,360 68,001 14%
Operating Expenditures 1,166,098 1,240,513 1,819,655 1,483,077 1,483,427 202,092 350 202,442 1,280,985 14%
Capital 49,478 - 29,033 100,000 100,000 188 57,334 57,522 42,479 58%
Bad Debt 100 - - 1,000 1,000 - - - 1,000 0%
Interfund Allocations 339,938 665,210 356,582 317,710 317,710 53,317 - 53,317 264,393 17%
Total Expenditures 1,555,614 1,905,723 2,205,269 1,901,787 1,902,137 255,597 57,684 313,281 1,588,857 16%
Net Surplus / (Deficit) (24,509) 16,830 (29,702) (275,985) (276,335) 4,519 (53,165)
Beginning Cash Balance 2,102,372 2,127,056 2,102,372 2,102,372
Cash Adjustments 49,194 (41,514) 39,494 -
Ending Cash Balance 2,127,056 2,102,372 2,112,164 1,826,036 2,093,643
Cash Reserves Target 388,904 476,431 551,317 475,534
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
25% of Annual expenditures
This fund was established (ordinance 8412-93) to receive monies and fees to pay expenses related to the operation of the St Joseph County/South Bend Building Department. The fund is operated in
accordance with the interlocal agreement between St Joseph County and the City of South Bend executed December 31, 1991 as amended. | The Building Department regulates the “built
environment” through enforcement of current building codes and zoning ordinances. The Building Department's purpose is to promote safe occupancy for all residents of the jurisdiction, serving all
properties within the City of South Bend and all properties with a 5-digit address within St. Joseph County. | Note: From 2019 through 2021, the Building Department has transitioned to a team
within the Department of Community Investment (DCI). In 2022, that transition is complete and Building is now part of the DCI Planning team.
Revenue for the Building Department is primarily generated through issuing permits for construction, demolition, or occupancy. In addition, contractor registrations and licenses are also issued and
monitored. Prior to the COVID-19 pandemic, revenue was anticipated to increase based on trends. Due to the unknown nature of economic impacts of COVID-19, permit revenue is budgeted at
2021 anticipated actual levels.
This fund accounts for the operational costs of running the Building Department. | Personnel - The personnel budget includes the wages and benefits for sixteen (16) full-time employees. | Supplies
- Includes fuel for inspectors' vehicles and office supplies. | Services - Repair & maintenance includes vehicle R&M for inspectors' vehicles. | Debt Service - The principal and interest expense
budgeted is for capital lease payments for vehicles. | Capital - Forecasted to purchase one new vehicle per year starting in 2023 in order to replace aging fleet. | Interfund Allocations - In 2022, it is
anticipated that a new permitting system will be sourced and implemented, resulting in a planned spend down of cash reserves. The implementation and software costs for the new permitting system
are budgeted in the IT Department's budget (Fund #279) and allocated back to this fund through the IT interfund allocation.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Industrial Revolving Fund Fund Number 754
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 2,658,410 4,749,980 - - - - - - -
Interest Earnings 380 50,529 156,288 78,514 78,514 25,428 25,428 53,086 32%
Other Income 300,472 809,701 979,867 172,000 172,000 268,451 268,451 (96,451) 156%
Total Revenue 2,959,263 5,610,209 1,136,154 250,514 250,514 293,879 293,879 (43,365) 117%
Expenditures by Type
Services & Charges
Professional Services 291,043 246,601 48,257 457,738 774,916 3,142 46,642 49,785 725,131 6%
Other Services & Charges 14,830 21,756 38,120 26,298 43,316 19,830 - 19,830 23,486 46%
Grants & Subsidies 2,700,000 4,290,000 - - - - - - - -
Total Services & Charges 3,005,872 4,558,357 86,377 484,036 818,232 22,972 46,642 69,615 748,617 9%
Bad Debt 184,827 - - - - - - - - -
Total Expenditures 3,190,699 4,558,357 86,377 484,036 818,232 22,972 46,642 69,615 748,617 9%
Net Surplus / (Deficit) (231,436) 1,051,853 1,049,778 (233,522) (567,718) 270,906 224,264
Beginning Cash Balance 3,700,843 2,406,914 3,700,843 3,700,843
Cash Adjustments (1,062,492) 242,076 (19,598) -
Ending Cash Balance 2,406,914 3,700,843 4,731,022 3,133,125 3,849,744
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
The Industrial Revolving Fund is a loan fund for small businesses. It is governed by a separate Board of Directors which contracts with the City's Community Investment Department for
administrative services. A City cash reserve target has not been established for the fund, but it operates under federal guidelines with respect the amount of loans and cash balances that must be
This fund receives revenue from the repayments of small business loans. This fund also receives revenue from interest earned on the cash balance at the trustee bank. In 2021and 2022, revenue will be
received from the new Revolving Loan Fund (RLF II) reimbursements as grant funds are administered and spent.
In 2020, the City was awarded a $6.9 million Revolving Loan Fund (RLF II) grant as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This grant will run through July
2022.
Expenditures are for legal services and administrative & program fees.
Starting in 2021, expenditures related to the new Revolving Loan Fund (RLF II), which was awarded in 2020 by the Economic Development Administration (EDA) as part of the CARES Act, will
include staff expenses, marketing, loan processing and various professional and miscellaneous expenses to administer the grant. All expenses are anticipated to be reimbursed by the grant.
Cash Reserves Target
No City reserve requirement; there are
program requirements
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2015 Smart Streets Bond Debt Service Fund Number 756
Fund Type Debt Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 91 91 91 34,996 34,996 17 17 34,979 0%
Interfund Transfers In 1,716,000 1,715,000 1,714,000 1,704,785 1,704,785 856,000 856,000 848,785 50%
Total Revenue 1,716,091 1,715,091 1,714,091 1,739,780 1,739,780 856,017 856,017 883,764 49%
Expenditures by Type
Services & Charges
Debt Service Principal 1,030,000 1,060,000 1,090,000 1,120,000 1,120,000 555,000 - 555,000 565,000 50%
Debt Service Interest & Fees 682,469 651,344 619,319 586,785 586,785 296,534 - 296,534 290,250 51%
Total Expenditures 1,712,469 1,711,344 1,709,319 1,706,785 1,706,785 851,534 - 851,534 855,250 50%
Net Surplus / (Deficit) 3,623 3,748 4,773 32,996 32,996 4,482 4,482
Beginning Cash Balance 1,742,699 1,739,076 1,742,699 1,742,699
Cash Adjustments (7,245) (125) (1,025) -
Ending Cash Balance 1,739,076 1,742,699 1,746,446 1,775,694 1,755,701
Cash Reserves Target 1,739,076 1,742,699 1,746,446 1,775,694
Fund Purpose:
Explanation of Revenue Sources:
This fund accounts for the bi-annual principal and interest payments to bondholders for the 2015 Smart Streets Bond. It also accounts for the related debt service reserve cash balance held at trustee
bank. The bonds were closed on April 9, 2015 and the par amount was $25 million.
This fund accounts for the trustee bank's receipt of debt service payments from the City, recorded as interfund transfers from the River West TIF Fund (#324). This fund also receives revenue from
interest earned on the cash balance at the trustee bank.
The River West TIF Fund (#324) transfers money into this fund semi-annually to cover debt service payments. The bonds are to be repaid over 21 years, with the final payment due February 1, 2037
(debt schedule #135). The debt service reserve amount will be used towards the last debt service payment.
Capital expenditures of this bond were tracked in the Smart Streets Bond Capital Fund (#753). The capital proceeds were fully expended in 2019.
Cash Reserves Target
100% cash reserves per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2017 Eddy Street Commons Bond Capital Fund Number 759
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 1 25,565 1 - - - - - -
Total Revenue 1 25,565 1 - - - - - -
Expenditures by Type
Capital - - - - - - - - - -
Total Expenditures - - - - - - - - - -
Net Surplus / (Deficit) 1 25,565 1 - - - -
Beginning Cash Balance 25,763 25,762 25,763 25,763
Cash Adjustments (3) (25,564) - -
Ending Cash Balance 25,762 25,763 25,764 25,763 25,766
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
This fund accounts for the expenditures of the bond proceeds from the 2017 Eddy Street Commons Phase II Bond. The funds will be spent on Phase II of the Eddy Street Commons, a mixed-use
development area just south of the University of Notre Dame.
Initial revenues were bond proceeds from the $25 million Eddy Street Commons Bond issued in 2017 (closing date 8/14/17, debt schedule #163). Currently, this fund only receives revenue from
interest earned on the cash balance at the trustee bank.
Cash Reserves Target
No reserve requirement - Bond capital fund -
spend down to zero
In July 2007, the South Bend Common Council unanimously approved the rezoning of 25 acres of vacant land south of Notre Dame for the nearly $200 million Eddy Street Commons project. Phase
I - As part of the Phase I development deal, Kite Realty Group agreed to invest $161.9 million while South Bend city officials agreed to invest $36.7 million to help with, among other costs, a parking
garage and street and utility upgrades. Phase I included retail/restaurant/office space, apartment units, condo units, townhomes, a 1,276-vehicle multi-level parking garage, a Fairfield Inn & Suites and
an Embassy Suites. Phase II - Designed with input from the University, City of South Bend and nearby home and business owners, Phase II consists of five main buildings: two graduate-style
apartment buildings and a new Robinson Community Learning Center on the east side of Eddy Street and two market-rate apartment buildings on the west side of Eddy Street. A stand-alone grocery
store is proposed for the southwest corner of Howard and Indiana 23, where the Robinson Center now sits. The Robinson Center, an off-campus educational initiative of the University, will move to a
new one-story, 13,000-square-foot building across the street. Phase II is a joint effort between the university and Kite Realty.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2017 Eddy Street Commons Bond Debt Service Fund Number 760
Fund Type Debt Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 184 188 187 73,411 73,411 31 31 73,380 0%
Interfund Transfers In 1,915,979 1,926,375 1,929,875 1,941,375 1,941,375 - - 1,941,375 0%
Total Revenue 1,916,164 1,926,563 1,930,062 2,014,786 2,014,786 31 31 2,014,755 0%
Expenditures by Type
Services & Charges
Debt Service Principal 475,000 720,000 760,000 810,000 810,000 - - - 810,000 0%
Debt Service Interest & Fees 1,235,875 1,206,375 1,169,875 1,131,375 1,131,375 - - - 1,131,375 0%
Total Expenditures 1,710,875 1,926,375 1,929,875 1,941,375 1,941,375 - - - 1,941,375 0%
Net Surplus / (Deficit) 205,289 188 187 73,411 73,411 31 31
Beginning Cash Balance 3,668,611 3,463,323 3,668,611 3,668,611
Cash Adjustments (410,577) 205,101 - -
Ending Cash Balance 3,463,323 3,668,611 3,668,799 3,742,022 3,669,018
Cash Reserves Target 2,500,000 2,500,000 2,500,000 2,500,000
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the semi-annual payment of debt service principal and interest to the bondholders of the 2017 Eddy Street Commons Phase II Bonds.
This fund will hold a minimum of $2.5 million in cash reserves per the 2017 Eddy Street Commons bond covenant. The bonds were closed on August 14, 2017 and the par amount was $25 million. In
December 2018, an additional $945,000 was added to the debt service reserve. In March 2021, an additional $205,104 was added to the debt service reserve.
This fund accounts for the trustee bank's receipt of debt service payments from the City, recorded as interfund transfers from the North East Residential Area TIF Fund (#436). This fund also
The principal and interest payments are set forth in the 20-year debt amortization schedule with the first payment made on February 15, 2018 and the final payment due February 15, 2037. The bond
was issued for Phase II of the Eddy Street Commons, a mixed-use development area just south of the University of Notre Dame. Capital expenditures related to the project are tracked in the Eddy
Street Commons Capital Fund (#759).
Cash Reserves Target
$2,500,000 minimum
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Central Services Fund Number 222
Fund Type Internal Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Licenses & Permits 2,711 3,281 2,738 2,500 2,500 131 131 2,369 5%
Charges for Services 7,279,944 9,160,143 8,923,201 11,599,402 11,599,402 1,537,778 1,537,778 10,061,624 13%
Interest Earnings 6,268 7,009 78 - - - - - -
Other Income 78,626 115,532 59,794 61,500 61,500 29,657 29,657 31,843 48%
Interfund Allocation Reimb 129,585 160,000 160,000 160,000 160,000 26,667 26,667 133,333 17%
Total Revenue 7,497,135 9,445,964 9,145,812 11,823,402 11,823,402 1,594,232 1,594,232 10,229,169 13%
Expenditures by Division
Equipment Services 7,695,353 9,334,778 9,412,885 10,911,772 10,925,452 1,687,172 32,309 1,719,482 9,205,970 16%
Print Shop 2,504 - - - - - - - - -
Radio Shop 207,641 192,096 213,640 326,712 326,915 34,176 511 34,687 292,228 11%
Building Maintenance 188,820 173,605 195,423 327,071 327,071 37,215 - 37,215 289,855 11%
Facilities Management 144,897 142,772 159,963 152,254 152,254 22,850 - 22,850 129,404 15%
Capital - 67,785 168,092 154,000 316,869 24,712 90,924 115,636 201,233 36%
Total Expenditures 8,239,216 9,911,036 10,150,004 11,871,809 12,048,561 1,806,126 123,744 1,929,870 10,118,690 16%
Expenditures by Type
Personnel
Salaries & Wages 1,772,151 1,765,863 1,778,787 2,642,997 2,642,997 332,119 - 332,119 2,310,878 13%
Fringe Benefits 758,851 751,937 721,904 1,190,867 1,190,867 136,658 - 136,658 1,054,208 11%
Total Personnel 2,531,003 2,517,800 2,500,690 3,833,864 3,833,864 468,777 - 468,777 3,365,086 12%
Supplies 4,782,010 6,392,707 6,543,875 6,913,647 6,915,220 1,153,331 13,329 1,166,661 5,748,560 17%
Services & Charges
Professional Services 12,174 12,641 6,968 12,600 12,600 - - - 12,600 0%
Printing & Advertising 42 - - - - - - - - -
Utilities 61,782 73,151 68,323 78,963 78,963 11,107 - 11,107 67,856 14%
Repairs & Maintenance 62,344 123,289 279,396 178,200 352,979 28,584 98,204 126,788 226,191 36%
Education & Training 8,696 4,953 4,990 16,050 16,219 26 769 794 15,424 5%
Travel 51 61 2,342 4,850 4,850 - - - 4,850 0%
Other Services & Charges 12,504 13,527 12,570 18,750 18,981 2,000 11,442 13,442 5,539 71%
Debt Service Principal 2,483 8,069 8,254 4,198 4,198 - - - 4,198 0%
Debt Service Interest & Fees 22 422 237 48 48 - - - 48 0%
Total Services & Charges 160,096 236,114 383,080 313,658 488,837 41,716 110,415 152,131 336,706 31%
Capital - 7,239 - 34,000 34,000 12,187 - 12,187 21,813 36%
Interfund
Interfund Allocations 683,462 757,176 722,359 776,640 776,640 130,114 - 130,114 646,525 17%
Interfund Transfers Out 82,645 - - - - - - - - -
Total Interfund 766,107 757,176 722,359 776,640 776,640 130,114 - 130,114 646,525 17%
Total Expenditures 8,239,216 9,911,036 10,150,004 11,871,809 12,048,561 1,806,126 123,744 1,929,870 10,118,690 16%
Net Surplus / (Deficit) (742,081) (465,072) (1,004,193) (48,407) (225,159) (211,894) (335,638)
Beginning Cash Balance 658,666 1,209,079 658,666 658,666
Cash Adjustments 1,292,495 (85,341) 651,305 -
Ending Cash Balance 1,209,079 658,666 305,778 433,507 (754,567)
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
Operational expenditures include those incurred in operating the wastewater treatment plant, maintaining the City's sewer system, and operating the Organic Resources facility which processes leaves,
brush, wood and other yard waste. | Personnel - The personnel budget includes the wages and benefits for 38 full-time employees, and $26k for part-time and seasonal wages. | Supplies - Includes
the costs of inventory parts that are used for the repair and maintenance of vehicles and equipment for City departments and external customers. Inventory also includes gasoline purchased for use by
City departments, which is then charged back to the departments based on usage. General supplies for Central Services includes cleaning supplies, small tools & equipment, building maintenance
supplies, uniforms, safety supplies, and office supplies. | Services - The repair & maintenance budget includes the cost of R&M for equipment, such as fuel pumps, and general building maintenance
for the Central Services' garages. The utilities budget includes the costs of electric, natural gas, and water for the garages.| Debt Service - The principal and interest expense budgeted is for capital
lease payments for a forklift purchased in 2019, be fully paid off in 2024. | Capital - Prior to 2022, Central Services' capital expenditures were tracked in the Central Services Capital Fund (#224).
However, the capital fund did not have any source of revenue other than the interfund transfers it received from this fund. Therefore, Central Services' capital expenditures will be accounted for in this
fund starting in 2022.
This fund was established to track the operating costs of the Central Services Division. The Division provides a variety of services to other city departments, along with several local county, state and
federal agencies. Central Services consists of 4 cost centers: Equipment Services, Building Maintenance, Radio Shop, and Facilities Management. The Department of Administration & Finance
oversees the Central Services Division.
Equipment Services and Radio Shop provide repair and maintenance services for the City's fleet and some external customers (governmental units such as St Joseph County and local township fire
departments). Parts and labor for each work order are charged back to City departments or billed to the external customers. | Building Maintenance provides repair and maintenance services to the
City's facilities. This cost center is partially funded through internal labor rates. | Equipment Services also receives business licensing revenue from performing inspections of taxi cabs. This revenue
has declined dramatically in the past two years due to the popularity of ride sharing services such as Uber and Lyft. | Facilities Management is funded by an interfund allocation. | This fund also
receives revenue from interest earned on the fund's cash balance.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Central Services Capital Fund Number 224
Fund Type Internal Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 40 - - - - - - - -
Other Income 1,472 - - - - - - - -
Interfund Transfers In 82,645 - - - - - - - -
Total Revenue 84,157 - - - - - - - -
Expenditures by Type
Supplies - - - - - - - - - -
Services & Charges
Repairs & Maintenance 17,143 - - - - - - - - -
Debt Service Principal 7,888 - - - - - - - - -
Debt Service Interest & Fees 603 - - - - - - - - -
Total Services & Charges 25,634 - - - - - - - - -
Capital 84,745 - - - - - - - - -
Total Expenditures 110,378 - - - - - - - - -
Net Surplus / (Deficit) (26,221) - - - - - -
Beginning Cash Balance - 26,221 - -
Cash Adjustments 52,442 (26,221) - -
Ending Cash Balance 26,221 - - - -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10339-14) to account for the capital expenditures of the Central Services Division.
This fund received transfers from the Central Services Operating Fund (#222) to cover expenditures as needed.
Historically, this fund accounted for the annual maintenance of the CNG stations and radio tower inspections and the debt service principal and interest budget is for the capital lease payments.
However, this fund did not have any source of revenue other than the interfund transfers. Therefore, Central Services' capital expenditures will be accounted for in the Central Services Operating
Fund (#222) starting in 2022 and this fund will be discontinued.
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Liability Insurance Fund Number 226
Fund Type Internal Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 36,491 79,266 164,629 101,355 101,355 38,223 38,223 63,132 38%
Other Income 84,555 741,339 500,956 2,000 2,000 140 140 1,860 7%
Interfund Allocation Reimb 3,265,000 3,365,000 3,583,000 3,639,999 3,639,999 606,667 606,667 3,033,333 17%
Interfund Transfers In - - - - - - - - -
Total Revenue 3,386,046 4,185,605 4,248,586 3,743,354 3,743,354 645,030 645,030 3,098,325 17%
Expenditures by Division
Safety/Risk Management 30,947 - - - - - - - - -
Liability Insurance 1,188,510 1,555,388 1,062,020 1,280,000 1,358,778 83,098 100,157 183,255 1,175,523 13%
Business Insurance 452,651 2,429,126 872,633 1,085,000 1,355,068 84,664 292,113 376,777 978,292 28%
Workers' Compensation 1,531,310 1,068,632 1,086,164 1,275,000 1,275,288 382,066 54,424 436,490 838,798 34%
Catastrophic Events 24,884 479 500 - 101,769 - 3,602 3,602 98,167 4%
Total Expenditures 3,228,301 5,053,624 3,021,317 3,640,000 4,090,903 549,828 450,296 1,000,124 3,090,780 24%
Expenditures by Type
Personnel
Salaries & Wages - - - - - - - - - -
Fringe Benefits - - - - - - - - - -
Other Personnel Costs 14,052 24,902 29,792 47,000 47,288 12,710 - 12,710 34,579 27%
Total Personnel 14,052 24,902 29,792 47,000 47,288 12,710 - 12,710 34,579 27%
Supplies 2,187 - - - - - - - - -
Services & Charges
Professional Services 334,849 405,364 498,869 223,000 418,351 50,016 258,999 309,015 109,336 74%
Education & Training 2,000 - - - - - - - - -
Travel - - - - - - - - - -
Repairs & Maintenance 4,286 1,710,233 231,043 - - - - - - -
Insurance 2,432,482 2,121,803 2,052,688 2,120,000 2,121,438 436,455 50,362 486,817 1,634,621 23%
Other Services & Charges 391,938 790,843 208,426 1,250,000 1,402,058 50,647 137,334 187,981 1,214,077 13%
Total Services & Charges 3,165,555 5,028,243 2,991,026 3,593,000 3,941,847 537,118 446,694 983,813 2,958,034 25%
Capital 24,884 479 500 - 101,769 - 3,602 3,602 98,167 4%
Interfund
Interfund Allocations 21,624 - - - - - - - - -
Total Interfund 21,624 - - - - - - - - -
Total Expenditures 3,228,301 5,053,624 3,021,317 3,640,000 4,090,903 549,828 450,296 1,000,124 3,090,780 24%
Net Surplus / (Deficit) 157,746 (868,019) 1,227,268 103,354 (347,550) 95,202 (355,094)
Beginning Cash Balance 6,100,867 5,956,858 6,100,867 6,100,867
Cash Adjustments (301,754) 1,012,028 (1,567,362) -
Ending Cash Balance 5,956,858 6,100,867 5,760,773 5,753,317 6,605,585
Cash Reserves Target 1,614,150 2,526,812 1,510,659 2,045,452
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
Workers' Compensation expenses have increased in the past 18 months due to several large, unrelated injuries. The City continues to monitor the workers' compensation related accidents and
provides training once an issue has been identified. There is also a considerable amount of proactive training which happens throughout the City in an effort to stop any workplace injuries.
Capital expenditures in 2019 and 2020 were for repairs to City facilities and replacement of equipment related to 2018 flood damage.
In 2021, all personnel costs previously budgeted in this fund were moved to the General Fund (#101).
-- One full-time Paralegal position was transferred to the Legal Department's budget. This position is under the Legal Department but was historically budgeted in this fund because the position
focuses on liability and workers' comp related matters.
-- In 2020, there were two full-time positions budgeted for the Safety & Risk division. During 2020, one position was eliminated due to attrition. In 2021, the remaining position was transferred to
Human Resources. The Safety & Risk division's supplies and services budget will be fully transferred to Human Resources in 2022.
This fund was established in 1979 when the Common Council determined that the City should become self-insured for liability insurance (ordinance 6657-79). The purpose of this fund is to set aside
monies, assessed on all operations and departments of the City, for the payment of any premium for outside coverage, claims arising from retained risk and all incidental costs associated with any
claims including, but not limited to, investigative and legal fees. Currently, this fund handles operations relating to business insurance and claims--property, liability, workers compensation, etc. This
fund is managed by the Department of Administration & Finance.
This fund receives revenue from a fixed cost interfund allocation charged to other City funds. The amount charged to each fund is determined during the annual budget process. Various
methodologies are used to effectively and fairly allocate costs. Liability and worker's compensation costs are allocated based on two-year claims history for each department. Business insurance costs
are allocated based on net book value of departments' capital assets (per the City's Annual Comprehensive Financial Report). When this fund has sufficient reserves, allocations to departments may
decrease. Reimbursements from insurance claims are also received in this fund.
Cash Reserves Target
50% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name IT / Innovation / 311 Call Center Fund Number 279
Fund Type Internal Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interfund Allocation Reimb 9,129,846 9,620,204 9,990,823 13,100,296 13,100,296 2,183,383 2,183,383 10,916,913 17%
Charges for Services 47,379 - 2,602 - - - - - -
Debt Proceeds 900,928 166,343 - - - - - - -
Other Income 111,836 131,610 131,250 73,764 73,764 102,127 102,127 (28,363) 138%
Donations 15,000 181,987 15,000 - - - - - -
Interest Earnings 14,598 53,386 123,322 79,721 79,721 29,196 29,196 50,525 37%
Total Revenue 10,219,588 10,153,530 10,262,996 13,253,781 13,253,781 2,314,705 2,314,705 10,939,075 17%
Expenditures by Division
311 Call Center 567,939 637,390 675,189 1,338,942 1,339,369 168,756 3,186 171,942 1,167,427 13%
Innovation & Technology 8,264,034 8,398,022 8,751,316 11,708,236 13,364,880 1,994,565 2,962,689 4,957,254 8,407,625 37%
Total Expenditures 8,831,973 9,035,411 9,426,505 13,047,178 14,704,249 2,163,321 2,965,875 5,129,196 9,575,052 35%
Expenditures by Type
Personnel
Salaries & Wages 1,908,602 1,965,182 2,176,973 3,402,749 3,402,749 441,450 - 441,450 2,961,300 13%
Fringe Benefits 704,230 711,976 794,161 1,414,429 1,414,429 161,872 - 161,872 1,252,557 11%
Total Personnel 2,612,832 2,677,158 2,971,134 4,817,178 4,817,178 603,321 - 603,321 4,213,857 13%
Supplies 714,903 468,930 164,623 663,850 795,513 74,225 286,017 360,242 435,271 45%
Services & Charges
Professional Services 510,586 782,666 967,886 646,260 1,915,028 135,204 1,103,486 1,238,690 676,338 65%
Printing & Advertising 3,277 4,366 6,393 16,500 16,468 1,454 857 2,311 14,157 14%
Repairs & Maintenance 3,646,311 3,802,342 4,116,523 5,840,569 6,050,755 1,249,403 1,553,286 2,802,689 3,248,066 46%
Education & Training 33,654 34,682 32,822 67,000 96,483 3,073 2,204 5,277 91,207 5%
Travel 161 24,829 30,830 35,000 51,744 6,045 19,767 25,812 25,932 50%
Other Services & Charges 292,472 243,852 255,730 77,550 77,808 60,538 258 60,796 17,012 78%
Debt Service Principal 966,528 930,920 817,680 788,983 788,983 27,480 - 27,480 761,503 3%
Debt Service Interest & Fees 50,358 65,014 57,489 93,470 93,470 1,486 - 1,486 91,984 2%
Total Services & Charges 5,503,347 5,888,671 6,285,351 7,565,332 9,090,739 1,484,683 2,679,858 4,164,541 4,926,199 46%
Operating Expenditures 8,831,082 9,034,758 9,421,108 13,046,360 14,703,431 2,162,230 2,965,875 5,128,104 9,575,327 35%
Total Interfund 891 653 5,398 818 818 1,092 - 1,092 (274) 133%
Total Expenditures 8,831,973 9,035,411 9,426,505 13,047,178 14,704,249 2,163,321 2,965,875 5,129,196 9,575,053 35%
Net Surplus / (Deficit) 1,387,615 1,118,119 836,490 206,603 (1,450,467) 151,384 (2,814,491)
Beginning Cash Balance 3,482,865 2,125,192 3,482,865 3,482,865
Cash Adjustments (2,745,287) 239,554 378,973 -
Ending Cash Balance 2,125,192 3,482,865 4,698,328 2,032,398 5,609,256
Cash Reserves Target - - - -
3482865.1Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
This fund was established to account for the expenditures of the Department of Innovation & Technology, which includes the 311 Call Center, Services, Infrastructure, Business Analytics,
Applications, and Civic Innovation. The Department of Innovation & Technology's goal is to empower an innovative workforce and a thriving community through technology, data, and strategic
partnerships. The functions within the department include: The 311 Call Center handles resident telephone calls in an efficient and effective manner. It provides residents with a "one-stop" shop to
contact city departments with inquiries and service requests. | Services focuses on internal technology-related services for the employees of the City of South Bend. Daily general operations and user
experience fall under this division. | Applications oversees architecting, implementing, configuring, integrating, and supporting all software applications and platforms. This includes the employee
intranet, the 311 Service Portal, our CRM solution, GIS mapping, and many applications specialized for departments and divisions. | Infrastructure oversees the Network Infrastructure within the
City of South Bend, which is comprised of the hardware, software and security resources of an entire network. The infrastructure team plans new deployments, maintains all technology infrastructure
inclusive of servers, network devices, wireless network devices, cloud environments, data center, and security; ensuring availability, capacity, and continuity. | Business Analytics acts as liaisons
between City departments and the rest of the Dept of Innovation and Technology team and provides additional resources to City departments for selected projects. Business Analytics team members
provide services including business needs assessments, process mapping and improvement, performance management, data and technology training, data analytics, and project management. | Civic
Innovation works with City and community partners to improve residents’ access to technology and digital literacy. The division connects residents and groups with the technology resources they
need to succeed by leveraging connections both internal and external connections.
Personnel - The personnel budget in this fund includes the wages and benefits of 24 full-time employees for Information Technology and 8 full-time employees for the 311 Call Center, along with a
budget for part-time help at the 311 Call Center. In 2022, two positions will be added: one additional Applications Developer and one additional 311 Customer Service Liaison. See the personnel
budget summary for details. | Supplies - The supplies budget includes miscellaneous computer supplies and accessories, along with devices that are not part of the hardware refresh plan. | Services -
The repairs & maintenance budget includes annual software subscription and renewal costs. The professional services budget includes software support and special projects like the SBAcademy.
SBAcademy, the City’s training program, has trained employees in novel techniques that enable process improvements and other innovations that will continue to make government more efficient. |
Debt Service - The principal and interest expense budget is for lease payments for various hardware refresh plans. A hardware refresh means replacing current hardware with the newest version of the
equipment to combat performance and capacity issues. The City leases equipment, such as computers and printers, over a period of 3-5 years. At the end of the lease, the City has the option to return
the equipment to the vendor and get new equipment. The refresh program ensures that City employees are equipped with the most current technology to better serve the City and its residents.
This fund receives revenue in the form of a fixed cost interfund allocation. The annual budget for this fund is allocated between the City departments based on various criteria including number of 311
calls, number of devices, number of user licenses, departmental specific software renewal, and more. This fund does not need to carry high cash reserves because its budget is fully allocated each year.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Self-Funded Employee Benefits Fund Number 711
Fund Type Internal Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 15,742,095 16,151,649 17,264,637 20,632,840 20,632,840 2,934,772 2,934,772 17,698,068 14%
Other Income 1,438,628 868,171 645,958 760,000 760,000 147,767 147,767 612,233 19%
Interest Earnings 62,791 153,013 281,357 161,529 161,529 58,875 58,875 102,654 36%
Total Revenue 17,243,514 17,172,834 18,191,953 21,554,369 21,554,369 3,141,414 3,141,414 18,412,955 15%
Expenditures by Subdivision
Health Insurance 15,509,012 16,778,282 17,293,498 19,028,374 19,429,517 2,583,007 2,369,813 4,952,820 14,476,696 25%
Workplace Wellness Clinic 1,003,588 349,692 1,862,320 1,193,488 1,275,046 24,307 1,122,251 1,146,558 128,488 90%
Employee Wellness 89,896 86,404 81,555 102,233 118,337 44,716 52,957 97,673 20,664 83%
Total Expenditures 16,602,496 17,214,377 19,237,373 20,324,095 20,822,900 2,652,030 3,545,021 6,197,052 14,625,848 30%
Expenditures by Type
Personnel
Other Personnel Costs 14,681,353 16,086,840 16,566,627 18,203,043 18,591,512 2,579,811 1,694,899 4,274,711 14,316,801 23%
Total Personnel 14,681,353 16,086,840 16,566,627 18,203,043 18,591,512 2,579,811 1,694,899 4,274,711 14,316,801 23%
Supplies 110,297 49,303 64,176 150,000 207,440 11,328 161,112 172,440 35,000 83%
Services & Charges
Professional Services 1,063,335 460,652 1,993,988 1,222,488 1,275,384 59,558 1,116,974 1,176,532 98,852 92%
Printing & Advertising - - - 100 100 - - - 100 0%
Insurance 737,651 613,232 603,954 746,964 746,965 50 572,036 572,086 174,879 77%
Other Services & Charges 3,194 4,351 8,628 1,500 1,500 1,283 - 1,283 217 86%
Total Services & Charges 1,804,180 1,078,234 2,606,570 1,971,052 2,023,949 60,891 1,689,010 1,749,901 274,048 86%
Bad Debt - - - - - - - - - -
Interfund Transfers Out 6,667 - - - - - - - - -
Total Expenditures 16,602,496 17,214,377 19,237,373 20,324,095 20,822,900 2,652,030 3,545,021 6,197,052 14,625,849 30%
Net Surplus / (Deficit) 641,018 (41,543) (1,045,420) 1,230,274 731,469 489,384 (3,055,638)
Beginning Cash Balance 10,786,414 10,143,060 10,786,414 10,786,414
Ending Cash Balance 10,143,060 10,786,414 10,708,563 11,517,883 10,147,244
Cash Reserves Target 4,150,624 4,303,594 4,809,343 5,205,725
Fund Purpose:
Explanation of Revenue Sources:
10786414.49
Explanation of Expenditures and Significant Changes/Variances:
An Employee Wellness Center was opened on January 18, 2016, which was set in place with the understanding that the City should see a drop in claims expenses over time. During the 2019 budget
process, it was determined that this fund was overfunded from prior years due to lower than anticipated costs. Therefore, in 2019, the City gave a one-time break in the health insurance cost per
employee charged to departments. Claims are forecasted to increase 5% year over year. The City will continue to closely monitor this fund to ensure the premiums charged to employees and
departments remains affordable while allowing the City to maintain excellent benefits for employees.
This fund was established in 1983 when the Common Council determined that the City should become self-insured for employee health insurance (ordinance 7161-83). The purpose of this fund is to
set aside monies assessed from City departments and monies collected from employees to be expended on insurance and claims relating to employees, including medical, dental, life, flex spending, etc.
The City of South Bend is self-insured - it pays medical, dental, and vision claims directly, as opposed to paying an insurance company to pay the claims.
Revenues for this fund come from individual departments based on the number of employees taking health insurance based on a per employee rate as set by the Controller's Office on an annual basis,
as well as from employee and public safety retiree health insurance premiums.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Unemployment Compensation Fund Number 713
Fund Type Internal Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 22,056 77,230 8,305 91,300 91,300 1,291 1,291 90,009 1%
Interest Earnings 69 899 2,161 1,809 1,809 278 278 1,531 15%
Other Income 74,683 - - - - - - - -
Interfund Transfers In 6,667 - - - - - - - -
Total Revenue 103,474 78,129 10,467 93,109 93,109 1,570 1,570 91,540 2%
Expenditures by Type
Personnel
Other Personnel Costs 75,914 24,444 77,693 80,000 80,000 5,360 - 5,360 74,640 7%
Total Expenditures 75,914 24,444 77,693 80,000 80,000 5,360 - 5,360 74,640 7%
Net Surplus / (Deficit) 27,560 53,685 (67,226) 13,109 13,109 (3,790) (3,790)
Beginning Cash Balance - 31,859 - -
Cash Adjustments 4,299 (85,544) 145,105 -
Ending Cash Balance 31,859 - 77,878 13,109 42,033
Cash Reserves Target 18,979 6,111 19,423 20,000
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established in 2011 (ordinance 10059-10) to account for the City’s payment of unemployment claims and outplacement services on behalf of all departments. Prior to the establishment
of this fund, claims were accounted for under individual departments’ operations.
This fund receives revenue from an allocation charged to departments through payroll as a percent of full-time wages. During the annual budget process, the Department of Administration & Finance
reviews the allocation percentage. When this fund’s cash reserves increase due to lower than anticipated claims, the allocation percentage will be decreased. As cash reserves fall below levels sufficient
to support anticipated claims, the allocation percentage will be increased. In November 2016, the charge was suspended due to the fund's high cash reserves In 2020, the allocation to departments was
resumed at 0.01% of full-time wages and will increase slightly each year in order to cover unemployment claims.
All unemployment claims and outplacement services for all departments are paid through this fund. Claims had remained fairly low in recent years, but in 2020 claims increased substantially due to the
COVID-19 pandemic.
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Parental Leave Fund Number 714
Fund Type Internal Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Charges for Services 248,401 260,138 283,791 297,000 297,000 44,692 44,692 252,308 15%
Interest Earnings 1,125 4,817 14,964 9,596 9,596 3,843 3,843 5,753 40%
Total Revenue 249,526 264,956 298,755 306,596 306,596 48,535 48,535 258,061 16%
Expenditures by Type
Personnel
Salaries & Wages 180,337 79,873 83,396 253,846 253,846 8,244 - 8,244 245,602 3%
Total Expenditures 180,337 79,873 83,396 253,846 253,846 8,244 - 8,244 245,602 3%
Net Surplus / (Deficit) 69,189 185,082 215,359 52,750 52,750 40,292 40,292
Beginning Cash Balance 226,711 157,521 226,711 226,711
Cash Adjustments (138,378) (115,893) (31,553) -
Ending Cash Balance 157,521 226,711 410,517 279,461 667,205
Cash Reserves Target 14,427 6,390 6,672 20,308
Fund Purpose:
Explanation of Revenue Sources:
Beginning in 2018, the City offers a Parental Leave Program to its employees to provide additional paid time off for employees for the birth or adoption of a child. The Parental Leave Program was
developed based on the models of other progressive, best-in-class employers.
The program is funded by an allocation to departments charged through payroll as a percent of full-time wages. During the annual budget process, the Department of Administration & Finance
reviews the allocation percentage. This allocation will be increased or decreased based on the financial needs of the program and the performance of the fund. In 2022, the allocation will be 0.35% of
full-time wages.
The program was well-received and continues to grow. Based on historical program participation, expenditures are budgeted at 40 births x 240 hours off of work x the average hourly wage.
Cash Reserves Target
8% of Annual expenditures - one month
reserve
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Rainy Day Fund Number 102
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 64,091 151,774 321,428 224,926 224,926 68,658 68,658 156,268 31%
Total Revenue 64,091 151,774 321,428 224,926 224,926 68,658 68,658 156,268 31%
Total Expenditures - - - - - - - - - -
Net Surplus / (Deficit) 64,091 151,774 321,428 224,926 224,926 68,658 68,658
Beginning Cash Balance 10,910,077 10,845,986 10,910,077 10,910,077
Cash Adjustments (128,182) (87,683) (11,231,505) -
Ending Cash Balance 10,845,986 10,910,077 - 11,135,004 11,444,047
Cash Reserves Target 8,998,791 8,717,131 9,643 9,551,216
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 9509-04) in order to set aside monies which can be used to meet unanticipated expenses that cannot be funded from existing appropriations, to meet cash flow
needs between biannual distribution of property tax receipts and other periodic distributions, for bridging a gap caused by an unexpected revenue shortfall or significant delay in receiving revenue, and
for any other City purpose or need consistent with or permitted by state law. This fund can be used for mid-year or year-end advances to other funds that have cash shortages and the advances must
be paid back within six months. The establishment of a Rainy Day Fund is looked upon favorably by bond rating agencies and is one of the factors resulting in South Bend's good AA bond rating with
Standard & Poor's.
The cash reserve requirement for this fund is 3% of prior year operational expenditures in Civil City funds, excluding interfund transfers.
The City can elect to transfer unused or unencumbered funds to this fund per IC 36-1-8-5.1. Every so often, this fund receives certain "catch up" distributions of local income tax monies from the
State of Indiana that are required to be deposited into this fund. During 2016, a total of 25% of the special local income tax distribution approved by the Indiana General Assembly, or $1,405,850, was
deposited into the Rainy Day Fund as allowed under the statute. On an ongoing basis, this fund receives revenue from interest earned on the fund’s cash balance.
No expenditures are budgeted at this time. The most recent activity was an interfund loan to four other funds during 2011.
3% of total expenditures in previous fiscal year
for Civil City Funds, less interfund transfers
Cash Reserves Target
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Gift, Donation, Bequest Fund Number 217
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 6,884 13,750 26,704 15,524 15,524 21,234 21,234 (5,710) 137%
Bloomberg Mayors Challenge 322,000 - - - - - - - -
Human Rights Scholarship Prog. - - 2,450 18,000 18,000 - - 18,000 0%
Misc Revenue-Donations from Private Sources - 59,996 49,909 15,000 15,000 3,829 3,829 11,171 26%
Office of Sustainability - - - - - - - - -
Historic Preservation 2,009 63 51 - - - - - -
Home Energy Improvements - 105,000 - - - - - - -
Code Enforcement Demolitions - - - - - - - - -
Animal Resource Center Donations 47,599 - - - - - - - -
Pokagon Band Donation 100,000 100,000 100,000 - - - - - -
Public Donation from Private Sources - - 3,473,000 7,000,000 7,000,000 - - 7,000,000 0%
Total Revenue 478,492 278,809 3,652,115 7,048,524 7,048,524 25,064 25,064 7,023,461 0%
Expenditures by Project
Wayfinding Signage Project 33,500 - - 7,000,000 7,000,000 - 6,355,430 6,355,430 644,570 91%
Bloomberg Mayors Challenge 323,775 232,795 78,044 - 6,896 - 6,896 6,896 - 100%
Human Rights Scholarship Prog. - - 5,856 14,000 14,000 - - - 14,000 0%
Historic Preservation Commiss. - - 266 1,000 1,000 - - - 1,000 0%
Bike Signage - - - 2,500 2,500 - - - 2,500 0%
Electric Vehicle Charging Station - 32,818 24,565 - (1,298) 3,000 (4,298) (1,298) - 100%
Home Energy Improvements 118,377 - - - 11,460 - 11,460 11,460 - 100%
Animal Resource Center 2,910 34,535 38,753 - - - - - - -
Code Enforcement Demolitions 2,863 44,425 - - - - - - - -
Pokagon Band Donation - - - - - - - - - -
Total Expenditures 481,425 344,573 147,483 7,017,500 7,034,559 3,000 6,369,489 6,372,489 662,070 91%
Expenditures by Type
Supplies - 32,818 8,182 2,500 2,500 - - - 2,500 0%
Services & Charges
Professional Services 360,185 267,330 116,796 7,000,000 7,006,896 - 6,362,327 6,362,327 644,570 91%
Printing & Advertising - - 4,732 6,000 6,000 - - - 6,000 0%
Repairs & Maintenance 118,377 - 11,460 - - - - - - -
Other Services & Charges 2,863 44,425 - - - - - - - -
Facilities Management - - - - - - - - - -
Total Services & Charges 481,425 311,755 139,302 7,015,000 7,032,059 3,000 6,369,489 6,372,489 659,570 91%
Total Expenditures 481,425 344,573 147,483 7,017,500 7,034,559 3,000 6,369,489 6,372,489 662,070 91%
Net Surplus / (Deficit) (2,933) (65,765) 3,504,631 31,024 13,966 22,064 (6,347,425)
978,522
Beginning Cash Balance 978,522 981,455 978,522 978,522
Cash Adjustments 5,866 62,832 (3,588,396) -
Ending Cash Balance 981,455 978,522 894,757 992,488 4,438,730
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Donation Sources and Uses:
This fund was established (ordinance 9870-08) to receive monies donated, given, and/or bequeathed to the City by private, non-governmental persons. Most donations, gifts, or bequests have a
specific purpose designated by the donor. By accounting for the monies in this separate fund, the City can better track the expense of the monies and ensure that they are spent according to the
designated purpose.
Judith Westfall Irrevocable Trust - In 2017, the South Bend Animal Resource Center (SBARC) started receiving an annual donation of approximately $22,300 from the Judith Westfall Irrevocable
Trust. They anticipate receiving annual contributions through 2/24/2023.
Pokagon Band (2019-2022) - the City received a $100,000 annual donation from the Pokagon Band of the Potawatomi to be used towards the Bowman Creek Project
Home Energy Improvements - From 2019 through 2022, the City has received private grants from the Robert & Clara Milton Charitable Trust Foundation. This private grant is to be used for the
South Bend Green Corps Senior Home Energy Improvements (2019: $125,000; 2020: $100,000; 2022: $70,000). The South Bend Green Corps Senior Home Energy Improvements program assists
seniors 65 years and older with home repairs. The City also received $20,000 from the Florence V. Carroll Charitable Trust to be used for Home Energy Improvements, not restricted to seniors.
Bloomberg Mayor's Challenge Award (2019-2022) - The City of South Bend is developing a transportation-as-a-benefit program, partnering with local employers to provide free or subsidized
transportation to/from work for low-wage shift workers who are transport insecure. Goals include reducing employee turnover, increasing productivity, and increasing resident access to employment,
all of which will in turn strengthen the local economy. Of this grant, 62% of funds are allocated to personnel who will design, implement and manage the program and develop a self-sustaining model.
17% of funds are allocated to covering costs of participant transportation; the 3-year period we will transition from program-funded transportation to employer/employee-funded transportation. 18%
of costs are allocated to operational/technical partners to develop and manage infrastructure (data management, participant enrollment, etc.). 3% of costs are allocated to media/communications to
support employer recruitment, participant enrollment, and public messaging. 1% of costs are allocated to travel/events; it’s estimated that key program personnel will travel 1x for program research
and 2x to relevant industry conferences and that the program will host 3 major events to recruit new partners/participants for the program. At the end of the 3-year period, it is expected the city will
have developed a sustainable, replicable model for a transportation-as-a-benefit program which will continue to scale across the South Bend region and other similar geographies.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Loss Recovery Fund Number 227
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 2,515 5,761 53,138 21,211 21,226 13,123 13,123 8,103 62%
Intergov./State Grants-Health - 634,425 1,067,118 - - - - - -
Total Revenue 2,515 640,186 1,120,256 21,211 21,226 13,123 13,123 8,103 62%
Expenditures by Type
Services & Charges
Professional Services - - - 1,500 1,500 - - - 1,500 0%
Other Services & Charges 69,630 - - - - - - - - -
Total Expenditures 69,630 - - 1,500 1,500 - - - 1,500 0%
Net Surplus / (Deficit) (67,115) 640,186 1,120,256 19,711 19,726 13,123 13,123
Beginning Cash Balance 414,099 481,214 414,099 414,099
Cash Adjustments 134,229 (707,301) (481,427) -
Ending Cash Balance 481,214 414,099 1,052,929 433,825 2,187,365
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 9890-08) to account for compensatory or exemplary damage payments from third parties arising from loss or damage to City tangible or intangible property. The
monies deposited into this fund shall be used for costs arising from the covered loss including repair or replacement of tangible property, administrative costs of obtaining loss recovery, enhancement
or improvement of City services related to the loss, with any excess to be applied to any reasonable purpose beneficial to the City.
This fund was established in 2008 with the recovery of monies from lawsuits brought about by environmental actions on the Studebaker and Oliver industrial sites. The fund continues to receive,
The fund has been used for capital projects related to environmental cleanup. In 2019, this fund was used to fund legal professional services related to environmental issues and granular activated
carbon reconditioning.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Human Rights Federal Grants Fund Number 258
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 162,140 66,260 8,775 54,600 54,600 68,400 68,400 (13,800) 125%
Charges for Services 10,833 1,667 20,000 85,000 85,000 - - 85,000 0%
Interest Earnings 2,417 4,033 6,995 - - 892 892 (892) -
Other Income - - - 1,400 1,400 - - 1,400 0%
Total Revenue 175,390 71,960 35,770 141,000 141,000 69,292 69,292 71,708 49%
Expenditures by Subdivision
General 9,928 2,760 - - - - - - - -
EEOC 98,139 98,244 96,673 143,559 143,958 15,251 - 15,251 128,707 11%
HUD 126,938 81,278 100,097 124,245 124,245 16,289 - 16,289 107,957 13%
Total Expenditures 235,005 182,282 196,770 267,805 268,204 31,540 - 31,540 236,664 12%
Expenditures by Type
Personnel
Salaries & Wages 125,084 108,072 121,381 139,014 139,014 20,670 - 20,670 118,344 15%
Fringe Benefits 38,636 31,431 46,580 58,491 58,491 8,270 - 8,270 50,220 14%
Total Personnel 163,721 139,503 167,962 197,505 197,505 28,940 - 28,940 168,564 15%
Supplies 3,864 824 1,280 2,500 2,500 - - - 2,500 0%
Services & Charges
Professional Services 18,333 21,692 1,667 28,000 28,000 - - - 28,000 0%
Printing & Advertising 11,878 9,323 23,500 8,000 8,000 - - - 8,000 0%
Education & Training 5,178 3,503 - 9,000 9,399 525 - 525 8,874 6%
Travel - 7,295 2,068 22,000 22,000 2,020 - 2,020 19,980 9%
Other Services & Charges 32,032 141 - 800 800 - - - 800 0%
- - 294 - - 54 - 54 (54) -
Total Services & Charges 67,420 41,955 27,235 67,800 68,199 2,545 - 2,545 65,654 4%
Interfund
Interfund Allocations - - 294 - - 54 - 54 (54) -
Interfund Transfers Out - - - - - - - - - -
Total Interfund - - 294 - - 54 - 54 (54) -
Total Expenditures 235,005 182,282 196,770 267,805 268,204 31,540 - 31,540 236,664 12%
Net Surplus / (Deficit) (59,614) (110,322) (161,000) (126,805) (127,204) 37,752 37,752
Beginning Cash Balance 426,544 486,159 426,544 426,544
Cash Adjustments 119,229 50,708 49,979 -
Ending Cash Balance 486,159 426,544 315,523 299,341 192,766
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures, Staffing, and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Grant fund - spend
down to zero
This fund tracks the portion of the Human Rights division that is funded by the federal government.
This fund is funded by federal grants, including grants from the Department of Housing & Urban Development (HUD) and the Equal Employment Opportunity Commission (EEOC). This fund also
receives revenue from staff contracts.
Expenditures are for the wages and benefits of two (2) full-time employees (Manager-Employment and Manager-Housing) and for supplies and services for the Human Rights Commission's activities
related to fair housing and equal opportunity employment in St. Joseph County.
Other staff and general expenditures for the Human Rights Commission are accounted for in the General Fund #101.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name American Rescue Plan Fund Number 263
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 29,455,024 29,455,024 - - - - - - -
Interest Earnings 81,618 707,757 180,695 - - 57,573 57,573 (57,573) -
Total Revenue 29,536,642 30,162,781 180,695 - - 57,573 57,573 (57,573) -
Expenditures by Type
Personnel
Salaries & Wages - 47,970,065 - - - - - - - -
Total Personnel - 47,970,065 - - - - - - - -
Services & Charges
Grants & Subsidies - - - - - - - - - -
Other Services & Charges - 1,270 - - - - - - - -
Capital - 807,053 945,227 - 9,346,451 3,169,653 6,176,798 9,346,451 - 100%
Total Expenditures - 48,778,388 945,227 - 9,346,451 3,169,653 6,176,798 9,346,451 - 100%
Net Surplus / (Deficit) 29,536,642 (18,615,607) (764,532) - (9,346,451) (3,112,080) (9,288,878)
Beginning Cash Balance 29,536,642 - 29,536,642 29,536,642
Cash Adjustments (59,073,284) 48,152,249 (17,892,650) -
Ending Cash Balance - 29,536,642 10,879,460 20,190,191 8,922,848
Cash Reserves Target - - - -
29,536,641.85
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Grant fund - spend
down to zero
The City's total award amount is $58,910,047, with half of it received in 2021 and the other half to be received in 2022. This fund also receives revenue from interest earned on the fund's cash balance.
ARP Premium Pay: In 2022, the Common Council appropriated $1.91 million for COVID premium pay to essential employees including police officers, firefighters, teamsters, and certain non-
bargainging employees for qualify for premium pay under the rules and regulations of the ARP Act. | Vacant Building Development Financing: $500,000 is budgeted in this fund and $1.5 million
in the General Fund #101 to support small-scale and mission-based developers enter into areas of the City where it is difficult to obtain traditional financing. This fund will act as a credit enhancement
(“loan loss reserve fund”) for these developers for targeted projects that revitalize large, vacant buildings and/or make a commercial investment in the corridors. | Dream Center: The City is
proposing to fund an $11.1 million renovation and upgrade to the Martin Luther King Jr. Center. The new facility will be called the Dream Center at Martin Luther King Jr. Park. This new, world-
class, intergenerational community center will be developed in conjunction with the community, and community feedback will play a large role in deciding what facilities and programming are built at
the Dream Center.
This fund was established in 2021 to track the receipt and expenditure of the funds from the American Rescue Plan Act.
On March 18, 2021, the Indiana State Board of Accounts issued State Examiner Directive 2021-1, which prescribes the accounting procedures for federal assistance received through the ARP Act, and
on May 17, 2021, the United States Department of the Treasury published an interim final rule to describe the requirements on implementing the Coronavirus State Fiscal Recovery Fund and the
Coronavirus Local Fiscal Recovery Fund established under the ARP Act. Both the state and the federal directives recommend the creation of a formal spending plan for the ARP Funds.
In its guidance, the Department of the Treasury outlined four funding objectives for the ARP Funds. In developing
its own plan for spending, the City of South Bend further grouped these four objectives into two main categories of
spending:
Response & Relief
• Support urgent COVID-19 response efforts
• Support immediate economic stabilization for households and businesses
Equitable Recovery
• Replace lost revenue for eligible state, local, territorial, and Tribal governments
• Address systemic public health and economic challenges that have contributed to the inequal impact of the
pandemic
Spending allocated for “Response and Relief” is intended to provide direct, rapid relief to residents and businesses
who have experienced economic or health-related harms related to the pandemic. Spending allocated for “Equitable
Recovery” is intended to rebuild a more equitable economy and community by addressing systemic challenges that
have been present in our community for decades.
In Sections 602(c)(1) and 603(c)(1) of ARPA, Congress provided four eligible
uses of funds:
a) To respond to the public health emergency or its negative economic
impacts, including assistance to households, small businesses, and nonprofits,
or aid to impacted industries such as tourism, travel, and hospitality;
b) To respond to workers performing essential work during the COVID-19
public health emergency by providing premium pay to eligible workers;
c) For the provision of government services to the extent of the reduction in
revenue due to the COVID–19 public health emergency relative to revenues
collected in the most recent full fiscal year prior to the emergency; and
d) To make necessary investments in water, sewer, or broadband
infrastructure
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Expenditures by Fund
General Fund (#101) 4,948,093 8,812,411 10,775,075 - 20,706,219 655,672 5,628,506 6,284,178 14,422,041 30%
American Rescue Plan (#263)- 2,697,983 945,227 - 9,346,451 3,169,653 6,176,798 9,346,451 - 100%
Total Expenditures by Fund 4,948,093 11,510,393 11,720,302 - 30,052,669 3,825,324 11,805,304 15,630,628 14,422,041 52%
Expenditures by ARP Programs
Strong Neighborhoods
Home Repair Assistance Programs - 4,980 1,440 - 2,493,580 - - - 2,493,580 0%
Housing Financing - - 121,108 - 2,378,892 - 1,803,670 1,803,670 575,222 76%
Home Buying Assistance - 55 - - 999,945 - - - 999,945 0%
Additional Neighborhood Infrastructure - 737,196 1,232,733 - 530,071 128,915 343,707 472,622 57,449 89%
City-wide Comprehensive Plan - 174,195 105,479 - 220,326 - 56,172 56,172 164,153 25%
Plan Implementation - 17,000 251,541 - 31,459 - 12,109 12,109 19,350 38%
Land Bank Startup Costs - - 27,390 - 222,610 19,385 525 19,910 202,700 9%
Demolitions (Vacant & Abandoned / Commercial) - 892,419 128,991 - 3,148,589 - 49,538 49,538 3,099,051 2%
Neighborhood Development Assistance - - 0 - 150,000 - 55,000 55,000 95,000 37%
Vacant Building Development Financing - - 500,000 - 1,000,000 - 1,000,000 1,000,000 - 100%
Neighborhood Recovery Grants - - 80,000 - 120,000 - - - 120,000 0%
Neighborhood Main Streets (Bike Racks, Trash Cans, etc.) - 16,840 15,644 - 267,516 - 221,535 221,535 45,981 83%
Athletic Court Repair - 1,009,229 504,772 - 85,999 8,550 77,449 85,999 - 100%
Subtotal - 2,851,915 2,969,099 - 11,648,986 156,850 3,619,705 3,776,554 7,872,431 32%
Safe Community for Everyone
Homelessness Strategy Implementation - 200,000 - - - - - - - -
County Partnerships on Homelessness & Mental Health - 1,000,000 5,241,510 - 558,490 - 20,990 20,990 537,500 4%
Gun Violence Intervention - 15,668 63,222 - 421,111 11,625 - 11,625 409,486 3%
Public Safety Technology Upgrades - 195,531 814,425 - 488,749 62,628 47,663 110,290 378,458 23%
COVID Response 1,448,093 - - - - - - - - -
COVID Facilities Upgrades - 66,774 209,033 - 1,724,193 239,695 1,473,085 1,712,780 11,414 99%
ARP Premium Pay - 1,889,660 - - - - - - - -
Subtotal 1,448,093 3,367,632 6,328,189 - 3,192,543 313,948 1,541,737 1,855,685 1,336,858 58%
Robust, Sustainable Infrastructure - Green Infrastructure
Greener Homes - - - - 100,000 - 100,000 100,000 - 100%
Solarize, Switch & Save - 133,500 91,060 - 75,440 - 72,440 72,440 3,000 96%
Commercial Recycling Partnership for CBD’s - - 806 - 74,194 - 198 198 73,996 0%
EV Plan & Deployment - 2,897 85,277 - 61,826 - 105 105 61,721 0%
Distributed Solar/Storage - 150,000 - - 850,000 - - - 850,000 0%
Subtotal - 286,397 177,143 - 1,161,460 - 172,743 172,743 988,717 15%
Equitable Access to Opportunity
Small Business Assistance - - 107,366 - 1,642,634 181,764 150,094 331,858 1,310,776 20%
Utility Relief 3,500,000 1,131,794 868,000 - 206 - - - 206 0%
Streamlined Assistance - 281,613 133,800 - 184,587 - 51,304 51,304 133,283 28%
Opportunity Fund - 54,600 64,434 - 880,966 3,110 200 3,310 877,656 0%
Immigration Support - 63,848 37,500 - 2 - - - 2 0%
Subtotal 3,500,000 1,531,856 1,211,100 - 2,708,394 184,874 201,598 386,472 2,321,923 14%
Youth and Workforce Development
Workforce Development - 152,606 44,645 - 51,399 - 48,799 48,799 2,600 95%
Dream Center - 808,323 945,227 - 9,346,451 3,169,653 6,176,798 9,346,451 - 100%
Pre-K Centers - 2,511,664 44,898 - 1,943,438 - 43,924 43,924 1,899,514 2%
Subtotal - 3,472,593 1,034,770 - 11,341,287 3,169,653 6,269,521 9,439,174 1,902,114 83%
Total Expenditures by Program 4,948,093 11,510,393 11,720,302 - 30,052,669 3,825,324 11,805,304 15,630,628 14,422,043 52%
American Rescue Plan:
Signed into law on March 11, 2021, the American Rescue Plan Act of 2021 (“ARP Act”) is a $1.9 trillion economic stimulus bill designed to facilitate recovery from the economic and health effects of the COVID-19
pandemic and the resulting, ongoing recession. As a part of this legislation, Congress allocated $350 billion to state, local, territorial and Tribal governments to respond to the pandemic, provide economic relief, and lay
the foundation for a strong and equitable recovery.
The City of South Bend was one of almost 1,200 Metropolitan Cities across the country that received a direct infusion of resources as a result of this Act. The City’s allocation totaled $58,910,047 (the “ARP Funds”).
American Rescue Plan Budget Summary - Fund 101 & 263
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name COVID-19 Response Fund Number 264
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Grants 1,490,275 460,352 368,404 75,000 75,000 112,041 112,041 (37,041) 149%
Other Income 5,000 - - - - - - - -
Interfund Transfers In 1,448,093 - - - - - - - -
Total Revenue 2,943,368 460,352 368,404 75,000 75,000 112,041 112,041 (37,041) 149%
Expenditures by Activity
Mayor's Office - - - - - - - - - -
Common Couuncil - - - - - - - - - -
Administration & Finance 1,000,100 - - - - - - - - -
Public Works (96) - - - - - - - - -
Innovation & Technology 750 - - - - - - - - -
Police Department 28,830 - - - - - - - - -
Fire Department 1,180 - - - - - - - - -
Community Investment 1,959,874 525,002 383,405 - 90,148 47,209 75,095 122,305 (32,157) 136%
Venues, Parks & Arts 5,595 - - - - - - - - -
Code Enforcement - - - - - - - - - -
Building Department - - - - - - - - - -
Total Expenditures 2,996,232 525,002 383,405 - 90,148 47,209 75,095 122,305 (32,157) 136%
Expenditures by Type
Supplies 18,318 - - - - - - - - -
Services & Charges
Professional Services - - - - - - - - - -
Printing & Advertising - - - - - - - - - -
Repairs & Maintenance - - - - - - - - - -
Grants & Subsidies 1,959,664 525,002 383,405 - 90,148 47,209 75,095 122,305 (32,157) 136%
Other Services & Charges 18,250 - - - - - - - - -
Total Services & Charges 1,977,914 525,002 383,405 - 90,148 47,209 75,095 122,305 (32,157) 136%
Interfund Transfers Out 1,000,000 - - - - - - - - -
Total Expenditures 2,996,232 525,002 383,405 - 90,148 47,209 75,095 122,305 (32,157) 136%
Net Surplus / (Deficit) (52,864) (64,649) (15,001) 75,000 (15,148) 64,832 (10,263)
Beginning Cash Balance - 53,214 - -
Cash Adjustments 106,078 11,435 (37,920) -
Ending Cash Balance 53,214 - (52,921) (15,148) -
Cash Reserves Target - - - -
=SUMIF(TableCashBalanceByFund[Fund],R9C13,TableCashBalanceByFund[12/31/2021])
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Grant fund - spend
down to zero
This fund was established in 2020 to track the costs associated with the City's response to the COVID-19 coronavirus pandemic.
This fund will receive grants including funds from the Federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Housing and Urban Development (HUD), Community
Development Block Grant (CDBG), and Emergency Solutions Grant (ESG).
Expenditures are related to various activities such as funding for quarantine sites, public health communications, personal protective equipment (PPE), cleaning/sanitizing supplies, and lost wages.
In 2020 the U.S. Department of Housing and Urban Development (HUD) awarded special allocations of Community Development Block Grant (CDBG) and Emergency Solutions Grant (ESG)
program funds to be used to prevent, prepare for, and respond to the coronavirus pandemic (COVID-19) as part of the CARES Act. The CDBG funds are aimed at community and economic
development, and ESG funds are aimed at aiding individuals and families who are homeless or receiving homeless assistance and to support additional homeless assistance and homelessness
prevention activities. The 2020 awards include $1,491,174 CDBG-CV1, $759,783 ESG-CV1, and $787,585 ESG-CV2. These funds are required to be spent by July 2022. If any additional special
allocations are awarded to the City, they will be accounted for in this fund.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Local Income Tax - Certified Shares Fund Number 404
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Local Income Taxes 13,334,937 9,591,298 - - - - - - -
Interest Earnings 87,126 205,249 (329,900) - - 12,284 12,284 (12,284) -
Debt Proceeds 1,598,000 1,632,000 - - - - - - -
Other Income 246,998 53,680 318,253 - - - - - -
Interfund Transfers In 147,786 730,725 - - - - - - -
Total Revenue 15,414,847 12,212,952 (11,647) - - 12,284 12,284 (12,284) -
Expenditures by Activity
General City 3,173,836 1,248,612 13,131,982 - 3,402,510 4,155 94,746 98,901 3,303,608 3%
Legal Dept 2,527 625 - - - - - - - -
Information Technology 28,098 31,365 40,135 - - - - - - -
Police Department 1,826,705 4,030,548 1,138,217 - - 569,109 - 569,109 (569,109) -
Vacant & Abandoned Houses 185,684 338,827 - - - - - - - -
Community Investment 25,880 687,244 - - - - - - - -
Parks & Recreation 1,596,732 1,324,793 84,198 - 11,356 6,762 4,593 11,356 - 100%
Morris Performing Arts Center 1,800,000 - - - - - - - - -
Light Up South Bend 146,590 158,047 - - 99,875 - 99,875 99,875 - 100%
Streets - 3,750,000 - - - - - - - -
Curb & Sidewalk 1,500,000 1,500,000 - - - - - - - -
Traffic Signals & Street Lighting 1,401,657 1,327,014 - - - - - - - -
Total Expenditures 11,687,709 14,397,074 14,394,532 - 3,513,740 580,026 199,215 779,241 2,734,499 22%
Expenditures by Type
Supplies 145,595 107,876 - - 99,875 - 99,875 99,875 - 100%
Services & Charges
Professional Services 35,065 87,389 40,135 - 98,901 4,155 94,746 98,901 - 100%
Printing & Advertising 24,785 - - - - - - - - -
Utilities 1,401,657 1,327,014 - - - - - - - -
Repairs & Maintenance 565,186 912,701 84,198 - 11,356 6,762 4,593 11,356 - 100%
Grants & Subsidies 340,711 1,016,129 - - - - - - - -
Other Services & Charges 1,086,776 1,564,276 172 - - - - - - -
Debt Service Interest & Fees 53,009 40,171 58,178 - - 23,304 - 23,304 (23,304) -
Total Services & Charges 5,138,446 6,217,414 1,262,722 - 110,257 580,026 99,339 679,365 (569,109) 616%
Capital 123,519 2,692,887 - - - - - - - -
Interfund
Interfund Allocations 9,753 9,676 - - - - - - - -
Interfund Transfers Out 6,270,396 5,369,221 13,131,810 - 3,303,608 - - - 3,303,608 0%
Total Interfund 6,280,149 5,378,897 13,131,810 - 3,303,608 - - - 3,303,608 0%
Total Expenditures 11,687,709 14,397,074 14,394,532 - 3,513,740 580,026 199,215 779,241 2,734,499 22%
Net Surplus / (Deficit) 3,727,138 (2,184,123) (14,406,179) - (3,513,740) (567,742) (766,956)
18,631,245
Beginning Cash Balance 18,631,245 14,902,237 18,631,245 18,631,245
Cash Adjustments (7,456,146) 5,913,131 12,226,737 -
Ending Cash Balance 14,902,237 18,631,245 16,451,803 15,117,505 1,461,039
Cash Reserves Target 5,843,854 7,198,537 7,197,266 1,756,870
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Funds are used for debt service payments for police cars & equipment, certain organizations' grants and operational subsidies, capital expenditures, and other uses as deemed by the Mayor and
Council. | In 2022, the interfund transfer to the Motor Vehicle Highway Fund (#202) is $3.75 million for street paving & patching and $1.5 million for the curb & sidewalk program. | The City
replaced its 20+ year-old accounting software system. The implementation lasted 18 months, cost about $3 million, and went live on May 1, 2020. An ongoing software support contract is budgeted at
$80k a year. | In 2021, Dept of Community Investment (DCI) activities formerly paid out of this fund were moved into Fund #408 in order to consolidate DCI expenditures. | The City continues
to budget funding for the demolition of vacant & abandoned houses, budgeted in Fund #101 for 2022. | The Dept of Public Works manages the Light Up South Bend program - a partnership
with Indiana/Michigan Power Co. to install additional street lights in neighborhoods throughout South Bend. The Lamppost Lighting Program is meant to improve safety by adding more street
lighting throughout South Bend. The City selected two areas where residents pay less for a lamppost. They were chosen based on income, number of vacant lots, and need for lighting in the
neighborhood. | This fund also provides operating subsidies to the Studebaker Museum and the South Bend Museum of Art. | Police patrol cars are purchased through 5-year capital leases. The
debt service principal and interest payments are paid by this fund.
This fund receives the Certified Shares portion of the City's Local Income Tax (LIT) revenue distribution. Local income tax revenue is determined annually by the Indiana Dept of Local Government
Finance (DLGF). In 2021, the St. Joseph County Council passed a resolution to amend the local income tax rate and dedicate a portion of the certified shares income tax to fund the consolidated
county-wide 911 call center called PSAP (Public Safety Answering Point). As a result, the City's certified shares distribution will be reduced going forward, starting in 2022. Previously, the City paid for
its portion of the operating costs for PSAP out of the Local Income Tax Economic Development Fund (#408). Other Income is principal from an interfund loan (debt schedule #82) being repaid by
the UDAG Fund (#410). This fund also receives revenue from interest earned on the fund's cash balance.
Cash Reserves Target
50% of Annual expenditures
This fund was established to account for the receipt of the certified shares component of the local income tax. Funds are used to items such as debt service payments, certain organizations’ grants and
operational subsidies, capital expenditures and other uses as deemed by the Mayor and Council.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Cumulative Capital Development Fund Number 406
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 469,124 492,015 581,307 610,828 610,828 - - 610,828 0%
Intergov./ Shared Revenues 41,568 19,615 43,758 45,458 45,458 - - 45,458 0%
Interest Earnings 928 2,505 4,133 2,724 2,724 1,357 1,357 1,368 50%
Total Revenue 511,620 514,135 629,199 659,010 659,010 1,357 1,357 657,654 0%
Expenditures by Activity
Transfer to Fund 404 - 143,687 458,333 500,000 500,000 83,333 - 83,333 416,667 17%
Police Department 394,767 367,808 260,548 48,541 48,541 - - - 48,541 0%
Park Capital - - - - - - - - - -
Total Expenditures 394,767 511,495 718,881 548,541 548,541 83,333 - 83,333 465,208 15%
Expenditures by Type
Services & Charges
Debt Service Principal 370,109 353,115 255,412 47,993 47,993 - - - 47,993 0%
Debt Service Interest & Fees 24,658 14,694 5,136 547 547 - - - 547 0%
Total Services & Charges 394,767 367,808 260,548 48,541 48,541 - - - 48,540 0%
Capital - - - - - - - - - -
Interfund Transfers Out - 143,687 458,333 500,000 500,000 83,333 - 83,333 416,667 17%
Total Expenditures 394,767 511,495 718,881 548,541 548,541 83,333 - 83,333 465,207 15%
Beginning Cash Balance 286,746 169,893 286,746 286,746
Cash Adjustments (233,706) 114,213 91,912 -
Ending Cash Balance 169,893 286,746 288,976 397,215 117,535
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
This fund is used to account for expenditures relating to the purchase or lease of capital improvements in the City. A cumulative capital development fund is defined under Indiana Code (I.C. 36-9-
16) and was established by the Common Council in 1985 (ordinance no. 7486-85).
This fund receives revenue from a property tax levy. Distributions are received from St. Joseph County in June and December. The Cumulative Capital Development (CCD) property tax is a special
tax rate that is reduced by circuit breaker property tax caps and will likely result in less revenue in future years unless the rate is re-established. This fund also receives auto excise and commercial
vehicle excise tax.
Currently, this fund pays the debt service payments for several police vehicle capital lease-purchases. About 34 patrol cars need to be replaced every year to maintain the fleet. Cars are kept for at least
five years, up to 10, depending on wear and tear. The cost is about $43,000 per vehicle, including the cost of outfitting the vehicle with the necessary equipment. Due to declining cash reserves in this
fund, the police vehicle capital lease-purchases for 2020 through 2023 will be funded by the Local Income Tax Certified Shares Fund (#404). This fund will continue to pay off current leases over that
time and will not take on any new debt until cash reserves can support it in 2024. In 2022, this fund will transfer $143,687 to Fund #404 to help offset the debt service payments paid out of that fund.
2019-2020 included a one-time capital expenditure of $285,500 to help fund the My SB Parks & Trails project at Howard Park.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Cumulative Capital Improvement Fund Number 407
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Intergov./ Shared Revenues 207,761 187,765 187,788 186,102 186,102 - - 186,102 0%
Interest Earnings 3,682 7,039 7,680 2,686 2,686 1,394 1,394 1,292 52%
Other Income 25,000 - - 25,000 25,000 - - 25,000 0%
Total Revenue 236,443 194,804 195,468 213,788 213,788 1,394 1,394 212,394 1%
Expenditures by Activity
Transfer to Fund 404 - 239,341 275,000 75,000 75,000 12,500 - 12,500 62,500 17%
Community Investment - - - - - - - - - -
Park Vehicles & Equipment 262,145 - - - - - - - - -
Venues, Parks & Arts Capital - 246,116 996 170,000 170,000 - - - 170,000 0%
Streets Vehicles & Equipment - - - - - - - - - -
Total Expenditures 262,145 485,457 275,996 245,000 245,000 12,500 - 12,500 232,500 5%
Expenditures by Type
Capital - 246,116 996 170,000 170,000 - - - 170,000 0%
Interfund Transfers Out 262,145 239,341 275,000 75,000 75,000 12,500 - 12,500 62,500 17%
Total Expenditures 262,145 485,457 275,996 245,000 245,000 12,500 - 12,500 232,500 5%
Net Surplus / (Deficit) (25,702) (290,653) (80,528) (31,212) (31,212) (11,106) (11,106)
Beginning Cash Balance 651,096 676,798 651,096 651,096
Cash Adjustments 51,404 264,951 (211,548) -
Ending Cash Balance 676,798 651,096 359,020 619,884 268,394
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Capital fund - spend
down to zero
This fund was established (ordinance 4832-66) in 1966 to account for the receipt of cigarette tax revenue designated to be used solely for capital improvements.
This fund receives cigarette tax revenue. Other Income is $25,000 from the South Bend School Corporation for rental of property. In 2020, the revenue was only $18,750 as the City gave a discount
due to COVID-19. This fund also receives revenue from interest earned on the fund's cash balance.
In 2019, $28,000 was used to purchase furniture for the Howard Park Renovation Project, part of the greater My SB Parks & Trails Project managed by the Department of Venues, Parks & Arts. | In
2020, $250,000 was transferred to the Motor Vehicle Highway Fund (#202) to support vehicle and equipment capital purchases for the Streets Division. | In 2021, $262,145 was budgeted for an
interfund transfer to the Parks & Recreation Fund (#201) to support vehicle and equipment capital purchases for the Park Maintenance Division of the Department of Venues, Parks & Arts. | In
2022, $250,000 is budgeted for the Studebaker Museum roof project managed by the Department of Venues, Parks & Arts. Also budgeted in 2022, $239,341 interfund transfer to the Local Income
Tax Certified Shares Fund (#404) to help offset the debt service payments for police vehicle capital leases paid out of that fund.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Local Income Tax - Economic Development Fund Number 408
Fund Type Special Revenue Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Local Income Taxes 13,006,489 12,704,389 17,660,862 16,896,469 16,896,469 2,816,078 2,816,078 14,080,391 17%
Intergov./ Grants - - 44,703 - - 0 0 - -
Fines, Forfeitures, and Fees - - - - - - - - -
Interest Earnings 128,951 353,542 750,667 62,311 62,311 163,811 163,811 (101,500) 263%
Donations - 67,950 7,500 - - - - - -
Other Income 151,545 165,020 1,124 150,000 150,000 700 700 149,300 0%
Interfund Transfers In 1,000,000 - - - - - - - -
Total Revenue 14,286,985 13,290,901 18,464,856 17,108,780 17,108,780 2,980,590 2,980,590 14,128,191 17%
Expenditures by Activity
General City - 2,834,071 64,117 - 4,901,811 15,066 533,154 548,220 4,353,591 11%
PSAP 2,812,202 - - - - - - - - -
Community Investment 2,274,806 5,741,067 6,783,252 5,984,028 8,210,187 503,753 1,690,730 2,194,483 6,015,704 27%
Neighborhoods 2,340,000 3,562,633 3,839,034 8,020,000 9,550,707 1,226,724 1,393,983 2,620,707 6,930,000 27%
Streets - 1,257,250 2,379,999 2,800,000 5,119,305 172,983 2,139,167 2,312,150 2,807,155 45%
2015 Park Bonds 376,736 374,474 308,421 369,381 369,381 92,019 - 92,019 277,362 25%
Potawatomi Zoo - - 1,100,000 - - - - - - -
2018 Zoo Bonds 324,100 332,100 334,500 326,500 326,500 164,250 - 164,250 162,250 50%
Engineering - - - 50,000 50,000 - - - 50,000 0%
2021 Infrastructure Bonds 253,000 575,500 644,500 4,790,300 4,790,300 322,000 - 322,000 4,468,300 7%
Total Expenditures 8,380,845 14,677,096 15,453,823 22,340,209 33,318,192 2,496,795 5,757,034 8,253,829 25,064,362 25%
Expenditures by Type
Personnel
Salaries & Wages
Fringe Benefits
Total Personnel
Supplies
Services & Charges
Professional Services 3,074,579 380,420 489,734 560,000 751,654 62,496 515,343 577,839 173,815 77%
Printing & Advertising 2,706 8,644 1,969 5,000 5,500 - 500 500 5,000 9%
Utilities 46,983 47,538 41,208 72,828 72,828 7,261 - 7,261 65,567 10%
Repairs & Maintenance 122,395 1,526,173 2,411,278 71,200 2,390,505 173,858 2,139,167 2,313,025 77,480 97%
Grants & Subsidies 1,028,845 2,817,950 3,696,740 2,375,000 5,532,831 373,655 2,194,979 2,568,633 2,964,198 46%
Other Services & Charges - 39,675 123,986 600,000 968,493 - 368,493 368,493 600,000 38%
Debt Service Interest & Fees 209,777 142,850 135,250 127,500 127,500 64,250 - 64,250 63,250 50%
Total Services & Charges 4,799,629 5,153,250 7,100,164 4,011,528 10,049,311 781,520 5,218,482 6,000,002 4,049,310 60%
Capital 112,229 3,003,653 324,647 - 4,940,199 32,256 538,552 570,808 4,369,391 12%
Interfund Transfers Out 3,468,986 6,520,192 8,029,012 18,328,681 18,328,681 1,683,019 - 1,683,019 16,645,662 9%
Total Expenditures 8,380,845 14,677,096 15,453,823 22,340,209 33,318,192 2,496,795 5,757,034 8,253,829 25,064,363 25%
Net Surplus / (Deficit) 5,906,140 (1,386,195) 3,011,033 (5,231,429) (16,209,411) 483,795 (5,273,239)
Beginning Cash Balance 24,795,353 24,795,353 24,795,353 24,795,353
Cash Adjustments (5,906,140) 1,386,195 (4,431,529) -
Ending Cash Balance 24,795,353 24,795,353 23,374,857 8,585,942 27,147,676
Cash Reserves Target 4,190,422 7,338,548 7,726,911 16,659,096
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
PSAP - Prior to 2022, this fund paid for the City's portion of the operating costs for the consolidated county-wide 911 call center called PSAP (Public Safety Answering Point). In 2021, the St. Joseph
County Council passed a resolution to amend the local income tax rate and dedicate a portion of the certified shares income tax to fund PSAP. As a result, the City's certified shares distribution
(received in Fund #404) will be reduced going forward, starting in 2022, and the budget for PSAP in this fund will be reduced to cover only the debt service payments for the 2014 PSAP Bonds. |
New Admin Building - In March 2022, the Common Council approved an additional appropriation for $7.8 million for the purchase and renovation of South Bend Community School Corporation
admininstration building. If the sale proceeds, the City of South Bend will move its offices from the County-City Building to the newly acquired building. | Interfund Transfers - This fund provides
operating subsidies for the Department of Community Investment (DCI). Subsidies are provided to the Community Investment Division (Fund #211) and the Neighborhoods Division (Fund #221
& #230). DCI does not collect enough revenue to support its operations so the City makes up the difference with income tax dollars. | Community Investment - Various community and economic
development initiatives administered by DCI are accounted for in this fund. 2022 DCI budgeted expenditures include: Business Development - $480k for workforce development, $250k for small
business assistance, $100k for the South Bend Chamber of Commerce | Neighborhoods - $550k for vacant & abandoned demolitions, $450k for the Homeless Strategy ($75k contract position,
$275k weather amnesty, $25k County coordinator support, $100k PSH leasing, $175k project support), $350k for the Home Repair Program, $50k for eviction prevention | Engagement - $255k for
neighborhood organization support, $40k for consulting fees to support development of Civic Engagement Toolkit and Public Engagement Plan | Planning - $150k for development of two
neighborhood plans, $35k for West Side Main Streets, $5k for public art - SB Mural Festival support, $10k for place making art grant |Property - $50k for appraisals, $100k for surveys, $226k for
expenses related to Redevelopment owned properties, $50k for an alley stabilization pilot program, $107k for mowing of vacant lots. | Debt Service - The fund is used to pay for debt service for the
following bonds: • 2015 Economic Development Income Tax Bonds (Park Projects), (Interfund Transfer to Fund #757) - final payment 8/1/35, (debt schedule #141) • 2018 Economic
Development Revenue Bonds (Potawatomi Zoo Project) - final payment 2/1/34, (debt schedule #175) • 2021 South Bend Building Corporation LIT Lease Rental Revenue Bonds (Infrastructure
Projects), (Interfund Transfer to Fund #755) - final payment 8/1/36, (debt schedule #215)
This fund was established to account for the receipt of the economic development component of the local income tax. Funds are used to items such as debt service payments, economic
development, capital expenditures benefiting economic development street operations and other uses as deemed by the Mayor and Council.
This fund receives the Economic Development portion of the City's Local Income Tax (LIT) revenue distribution. The City of South Bend receives an allocated share of the 0.4% income tax on
wages within St. Joseph County. Local income tax revenue is determined annually by the Indiana Dept of Local Government Finance (DLGF). Income tax revenue is expected to decrease over the
next couple years as a result of the COVID-19 pandemic. Other Income is from the sale of properties held for resale by the Department of Community Investment. This fund also receives revenue
from interest earned on the fund's cash balance. The final payment of the TJX job penalty amount of $354,660 was received in 2020. The job penalty fines were assessed because the company A.J.
Wright violated its development agreement with the city, under which it benefited from a taxpayer-funded incentive package worth more than $10 million. TJX, the parent company of A.J. Wright,
has been paying the job penalty fines since 2011.
Cash Reserves Target
50% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Equipment/Vehicle Leasing Fund Number 750
Fund Type Capital Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 17 - - - - - - - -
Total Revenue 17 - - - - - - - -
Expenditures by Type
Services & Charges
Debt Service Principal - - - - - - - - - -
Debt Service Interest & Fees - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Capital - - - - - - - - - -
Interfund Transfers Out - 347,697 - - - - - - - -
Total Expenditures - 347,697 - - - - - - - -
Net Surplus / (Deficit) 17 (347,697) - - - - -
Beginning Cash Balance 347,697 347,680 347,697 347,697
Cash Adjustments (35) 347,714 (347,697) -
Ending Cash Balance 347,680 347,697 - 347,697 -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Capital lease fund -
spend down to zero
This fund was used to track the expenditures of capital lease proceeds used to purchase vehicles and equipment for City departments. The funds are held by an escrow agent and expended upon the
provision by the City of a proper claim form and invoice. Historically, the City has used 5-year capital leases and received an interest rate around 2%. Debt service principal and interest payments are
budgeted in individual departments.
Starting in 2020, the City changed its accounting for capital leases. The balance of the lease proceeds held in escrow are now accounted for in the fund that is repaying the debt instead of a single
leasing fund.
Historically, this fund received revenue in the form of capital lease proceeds and interest earned on those proceeds while they were held in an escrow account.
The 2017 Vehicle/Equip Lease #2 is the only remaining lease still being accounted for in this fund. The remaining balance in the escrow will be used towards repayment of the debt and therefore the
balance of the escrow should be accounted for in the fund that is repaying the lease: Local Income Tax Certified Shares Fund (#404). In 2022, the remaining cash in this fund was transferred to Fund
#404 and this fund was discontinued.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name South Bend Redevelopment Authority Fund Number 752
Fund Type Debt Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 71 2,855 16,077 5,420 5,420 4,100 4,100 1,320 76%
Interfund Transfers In 2,866,000 3,055,500 3,825,000 4,684,081 4,684,081 2,003,000 2,003,000 2,681,081 43%
Debt Proceeds - - (33,098,353) - - - - - -
Total Revenue 2,866,071 3,058,355 (29,257,277) 4,689,501 4,689,501 2,007,100 - 2,007,100 2,682,401 43%
Expenditures by Type
Services & Charges
Debt Service Principal 1,850,000 2,030,000 2,205,000 2,300,000 2,300,000 960,000 - 960,000 1,340,000 42%
Debt Service Interest & Fees 1,006,069 1,012,027 1,447,309 2,389,081 2,389,081 1,766,578 - 1,766,578 622,503 74%
Total Expenditures 2,856,069 3,042,027 3,652,309 4,689,081 4,689,081 2,726,578 - 2,726,578 1,962,503 58%
Net Surplus / (Deficit) 10,002 16,328 (32,909,585) 420 420 (719,478) (719,478)
Beginning Cash Balance 242,425 232,423 242,425 242,425
Cash Adjustments (20,004) (6,326) 32,925,913 -
Ending Cash Balance 232,423 242,425 258,753 242,845 (271,957)
Cash Reserves Target 232,423 242,425 258,753 242,845
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the bi-annual debt service principal and interest payments for various debt issued by the South Bend Redevelopment Authority. The South Bend Redevelopment Authority is a
separate legal entity that is recorded in the City's Annual Comprehensive Financial Report (ACFR).
This fund accounts for the trustee bank's receipt of debt service payments from the City, recorded as interfund transfers from the City funds that are funding the repayment of the debt. This fund also
receives revenue from interest earned on the cash balance at the trustee bank.
Current debt includes:
• 2013 Century Center Special Tax Bonds, Refunding 2008 - debt payments funded by interfund transfers from River West TIF Fund (#324), final payment 5/1/26, (debt schedule #62)
• 2015 Eddy St Commons-Lease Rental Revenue Bonds, Refunding 2008 - debt payments funded by interfund transfers from River East Residential TIF Fund (#436), final payment 2/15/33, (debt
schedule #54)
• 2022 South Bend Redevelopment Authority Lease Rental Revenue Bonds, Morris Project - debt payments funded by interfund transfers from Redevelopment General Fund (#433), final payment
2/1/46, (debt sched. #221)
Cash Reserves Target
100% cash reserves per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name South Bend Building Corporation Fund Number 755
Fund Type Debt Service Funds Control City Funds
2024 2024 2024 2024 Total
2021 2022 2023 Adopted Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 58 1,249 3,995 20,165 20,165 394 394 19,771 2%
Debt Proceeds 8,860,022 - - - - - - - -
Interfund Transfers In 2,564,000 2,736,000 2,217,500 1,423,193 1,423,193 719,750 719,750 703,443 51%
Total Revenue 11,424,080 2,737,249 2,221,495 1,443,358 1,443,358 720,144 720,144 723,214 50%
Expenditures by Type
Services & Charges
Debt Service Principal 2,150,000 2,195,000 1,645,000 910,000 910,000 590,000 - 590,000 320,000 65%
Debt Service Interest & Fees 635,015 554,716 557,118 515,193 515,193 261,884 - 261,884 253,309 51%
Total Services & Charges 2,785,015 2,749,716 2,202,118 1,425,193 1,425,193 851,884 - 851,884 573,309 60%
Interfund Transfers Out 9,248,224 - - - - - - - - -
Total Expenditures 12,033,240 2,749,716 2,202,118 1,425,193 1,425,193 851,884 - 851,884 573,309 60%
Net Surplus / (Deficit) (609,159) (12,468) 19,377 18,165 18,165 (131,739) (131,739)
Beginning Cash Balance 224,375 833,535 224,375 224,375
Cash Adjustments 1,218,319 (596,691) (31,845) -
Ending Cash Balance 833,535 224,375 211,908 242,541 99,546
Cash Reserves Target 833,535 224,375 211,908 242,541
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for bi-annual debt service principal and interest payments for various debt issued by the South Bend Building Corporation. The South Bend Building Corporation is a separate legal
entity, but is reported as a fund in the City's Annual Comprehensive Financial Report (ACFR).
This fund accounts for the trustee bank's receipt of debt service payments from the City, recorded as interfund transfers from the City funds that are funding the repayment of the debt. This fund also
receives revenue from interest earned on the cash balance at the trustee bank.
In 2021, the City issued the LIT Lease Rental Revenue Bonds, Series 2021 (known as the 2021 LIT Infrastructure Bonds). The bonds were issued to fund street and neighborhood infrastructure
projects. The bonds were closed on May 12, 2021 with a par amount of $7,610,000 and a premium of $1,250,022, a total of $8,860,022. The bonds have a net interest rate of 3.4%. The bond proceeds
were deposited into this fund and transferred to the bond capital fund (#455).
Current debt includes:
• 2012 Fire Station/Police Dept Renovations Refunding Bonds, Refunding 2003 - debt payments funded by interfund transfers from River West TIF Fund (#324), final payment 2/1/23, (debt
schedule #39)
• 2013 EMS/Fire Station/Tower Bonds - debt payments funded by interfund transfers from Fire Department Capital Fund (#287), final payment 2/1/33, (debt schedule #116)
• 2021 LIT Infrastructure Bonds - debt payments funded by interfund transfers from Local Income Tax Economic Development Fund (#408), final payment 8/15/37, (debt schedule #215)
• 2022 Economic Development Revenue Bonds, Potawatomi Zoo Project - debt payments funded by interfund transfers from Redevelopment General Fund (#433), final payment 2/1/42, (debt
schedule #222)
In 2021, the final payment for the 2010 Public Works Service Center Refunding Bonds (Refunding 2001) was made on 2/1/21, (debt schedule #36). The debt service reserve balance of $647,148 was
disbursed by the trustee bank when the bonds were paid off. 87.7% was transferred to the River West TIF Fund (#324) and 12.3% was transferred to the Sewage Works Operating Fund (#641), the
funds that repaid the debt.
In 2021, the cost of issuance for the 2021 LIT Infrastructure bonds was accounted for in this fund. The remaining bond proceeds, after cost of issuance was deducted, was $8,601,026. That amount
was transferred to the bond capital fund (#455) to be used towards the approved capital infrastructure projects.
Cash Reserves Target
100% cash reserves per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name TIF - River West Development Area Fund Number 324
Fund Type Tax Increment Financing Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 18,120,969 16,811,078 19,559,921 18,091,160 18,091,160 - - 18,091,160 0%
Intergov./ Shared Revenues 383,000 200,000 385,000 396,500 396,500 - - 396,500 0%
Intergov./ Grants 868,707 123,848 331,620 - - 180,564 180,564 (180,564) -
Charges for Services - - - - - - - - -
Interest Earnings 153,650 431,088 868,831 465,981 465,981 207,253 207,253 258,728 44%
Donations - - - - - - - - -
Debt Proceeds - - - - - - - - -
Other Income 22,900 167,125 68,639 - - 72,435 72,435 (72,435) -
Interfund Transfers In 585,315 16 8 - - - - - -
Total Revenue 20,134,540 17,733,155 21,214,018 18,953,641 18,953,641 460,252 460,252 18,493,389 2%
Expenditures by Type
Services & Charges
Professional Services 714,611 669,160 761,913 447,928 6,088,271 126,474 4,234,701 4,361,175 1,727,095 72%
Debt Service Principal 3,883,193 3,711,202 3,874,615 4,063,455 4,063,455 1,545,000 - 1,545,000 2,518,455 38%
Debt Service Interest & Fees 958,715 812,903 641,646 461,970 461,970 122,428 - 122,428 339,543 27%
Other Services & Charges - 250,000 225,000 - 525,000 - 680,740 680,740 (155,740) 130%
Total Services & Charges 5,556,519 5,443,266 5,503,174 4,973,353 11,138,696 1,793,902 4,915,441 6,709,343 4,429,353 60%
Capital 4,873,092 6,103,348 12,780,071 12,991,913 36,061,700 1,965,761 10,243,981 12,209,743 23,851,957 34%
Interfund Transfers Out 5,013,303 4,710,000 4,270,800 4,581,135 4,581,135 1,375,000 - 1,375,000 3,206,135 30%
Total Expenditures 15,442,915 16,256,613 22,554,045 22,546,401 51,781,530 5,134,663 15,159,423 20,294,086 31,487,445 39%
Net Surplus / (Deficit) 4,691,625 1,476,541 (1,340,027) (3,592,759) (32,827,889) (4,674,411) (19,833,834)
Beginning Cash Balance 33,713,041 29,039,261 33,713,041 33,713,041
Cash Adjustments (9,365,405) 3,197,238 2,754,322 -
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the collection of Tax Increment Financing (TIF) revenues for the River West Development Area and expenses of those funds on eligible development projects for this TIF
area.
Financing is provided by property tax proceeds in excess of those attributable to the assessed value of the property in the district before redevelopment. This fund also receives Hotel/Motel Tax
(intergovernmental shared revenues).
In 2020, bond proceeds were receipted into the fund. See explanation of bond below.
In 2021, the final payment for the 2010 Public Works Service Center Refunding Bonds (Refunding 2001) was made on 2/1/21, (debt schedule #36). The debt service reserve balance of $647,148 was
disbursed by the trustee bank when the bonds were paid off. 87.7% was transferred to the River West TIF Fund (#324) and 12.3% was transferred to the Sewage Works Operating Fund (#641), the
funds that repaid the debt.
Various projects and development opportunities include: funds to better leverage state and federal grant opportunities, neighborhood revitalization and improvements, development agreements aimed
at increasing early childhood education capacity, and projects that were started in 2021 and will still be in process in 2022. TIF support will also be used for various Public Works projects, and
development opportunities which may be presented to the Redevelopment Commission in 2022. Professional Services will cover mandatory administrative costs related to TIF neutralization
calculations.
In 2020, bonds were issued to fund the St. Joseph County Public Library Community Education Center Project. The par amount of the bonds was $4,225,000 with a premium of $120,058.95. The
bond proceeds were deposited into this fund. $4,000,000 went towards capital project expenses and the remaining amount went towards cost of issuance.
This fund is also used to repay several bonds related to capital projects in the community. The repayment of the bonds is either accounted for in this fund (see Debt Service Principal & Interest
expense) or accounted for in separate debt service funds with the repayment being funded by interfund transfers from this fund to the debt service funds (see Interfund Transfers Out). Current debt
includes:
• 2006 Main/Colfax Garage - Transpo Lease - final payment 9/15/25, (debt schedule #13)
• 2011 South Bend Downtown Central Development Area TIF Refunding Bonds, Refunding 2003 - final payment 8/1/24, (debt schedule #5)
• 2011 Airport Development Area TIF Refunding Bonds, Refunding 2003 - final payment 8/1/24, (debt schedule #6)
• 2012 Fire Station/Police Dept Renovations Refunding Bonds, Refunding 2003, (Interfund Transfer to Fund #755) - final payment 2/1/23, (debt schedule #39)
• 2013 Century Center Special Tax Bonds, Refunding 2008, (Interfund Transfer to Fund #752) - final payment 5/1/26, (debt schedule #62)
• 2015 South Bend Redevelopment Authority Lease Rental Revenue Bonds (Smart Streets Bonds), (Interfund Transfer to Fund #756) - final payment 2/1/37, (debt schedule #135)
• 2019 South Bend Redevelop. Authority Lease Rental Revenue Bonds (Double Tracking Project), (Interfund Transfer to Fund #352) - final payment 2/1/30, (debt schedule #200)
• 2018 Redevelopment District Bonds (Park Projects) - final payment 2/1/33, (debt schedule #169)
• 2020 Taxable Economic Development Tax Increment Revenue Bonds (Community Education Center Project) - final payment 2/1/37, (debt schedule #210)
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name TIF - West Washington Fund Number 422
Fund Type Tax Increment Financing Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 348,856 308,363 490,344 289,606 289,606 - - 289,606 0%
Interest Earnings 7,164 18,135 45,603 30,516 30,516 11,168 11,168 19,348 37%
Other Income - - - - - - - - -
Total Revenue 356,020 326,498 535,947 320,121 320,121 11,168 11,168 308,954 3%
Expenditures by Type
Services & Charges
Professional Services 45,544 - - - 1,000,000 - 1,140,000 1,140,000 (140,000) 114%
Total Services & Charges 45,544 - - - 1,000,000 - 1,140,000 1,140,000 (140,000) 114%
Capital 202,738 113,570 99,745 280,000 348,357 68,357 - 68,357 280,000 20%
Total Expenditures 248,282 113,570 99,745 280,000 1,348,357 68,357 1,140,000 1,208,357 140,000 90%
Net Surplus / (Deficit) 107,738 212,928 436,202 40,121 (1,028,235) (57,189) (1,197,189)
Beginning Cash Balance 1,235,031 1,127,293 1,235,031 1,235,031
Cash Adjustments (215,476) (105,190) (227,492) -
Ending Cash Balance 1,127,293 1,235,031 1,443,740 206,795 1,826,002
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the collection of Tax Increment Financing (TIF) revenues for the West Washington Development Area and expenses of those funds on eligible development projects for this
TIF area.
Financing is provided by property tax proceeds in excess of those attributable to the assessed value of the property in the district before redevelopment. This fund receives revenue from interest
earned on the fund's cash balance.
In 2022, this fund will be primarily utilized to provide upgrades and programming at the Martin Luther King Jr. Community Center. Professional Services will cover mandatory administrative costs
related to TIF neutralization calculations.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name TIF - River East Development Area (NE Dev) Fund Number 429
Fund Type Tax Increment Financing Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 4,328,968 4,209,328 6,216,898 3,899,348 3,899,348 - - 3,899,348 0%
Interest Earnings 39,992 146,645 360,139 138,858 138,858 89,696 89,696 49,162 65%
Other Income 74,327 16,850 1,000 - - - - - -
Interfund Transfers In 673,180 - - - - - - - -
Total Revenue 5,116,467 4,372,823 6,578,037 4,038,206 4,038,206 89,696 89,696 3,948,510 2%
Expenditures by Type
Services & Charges
Professional Services 67,611 428,035 371,517 - 976,297 16,103 1,032,812 1,048,916 (72,619) 107%
Insurance 523 - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Interfund Transfer Out - - 230,200 - - - - - - -
Total Services & Charges 68,133 428,035 601,717 - 976,297 16,103 1,032,812 1,048,916 (72,619) 107%
Capital 1,336,457 1,549,275 3,232,307 3,500,000 9,546,149 200,000 2,521,991 2,721,991 6,824,158 29%
Total Expenditures 1,404,591 1,977,310 3,834,024 3,500,000 10,522,446 216,103 3,554,803 3,770,907 6,751,539 36%
Net Surplus / (Deficit) 3,711,876 2,395,513 2,744,012 538,206 (6,484,240) (126,407) (3,681,211)
Beginning Cash Balance 9,506,445 5,864,278 9,506,445 9,506,445
Cash Adjustments (7,354,043) 1,246,655 (350,543) -
Ending Cash Balance 5,864,278 9,506,445 11,899,914 3,022,206 14,504,439
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the collection of Tax Increment Financing (TIF) revenues for the River East Development Area and expenses of those funds on eligible development projects for this TIF area.
The boundaries for this TIF district were changed during the 2014 TIF re-alignment. This fund was formerly known as the Northeast TIF.
Financing is provided by property tax proceeds in excess of those attributable to the assessed value of the property in the district before redevelopment. This fund receives revenue from interest
earned on the fund's cash balance.
Various projects and development opportunities include: Completion of the City's commitment to the Wharf Phase II (Three Twenty Cascades), Robert Henry Neighborhood improvements,
streetscape projects, Public Works projects, and various development opportunities which may be presented to the Redevelopment Commission in 2022. Professional Services will cover mandatory
administrative costs related to TIF neutralization calculations.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name TIF - Southside Development Area #1 Fund Number 430
Fund Type Tax Increment Financing Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 2,981,728 2,745,678 2,986,918 1,852,064 1,852,064 - - 1,852,064 0%
Interest Earnings 75,461 200,851 411,769 100,986 100,986 72,933 72,933 28,053 72%
Other Income - - 691,010 - - - - - -
Total Revenue 3,057,189 2,946,528 4,089,697 1,953,050 1,953,050 72,933 72,933 1,880,117 4%
Expenditures by Type
Services & Charges
Professional Services 162,661 176,193 568,771 - 275,982 8,477 257,505 265,982 10,000 96%
Total Services & Charges 162,661 176,193 568,771 - 275,982 8,477 257,505 265,982 10,000 96%
Capital 999,692 2,057,679 5,879,206 2,000,000 11,135,280 1,850,266 6,290,817 8,141,083 2,994,197 73%
Total Expenditures 1,162,353 2,233,872 6,447,977 2,000,000 11,411,262 1,858,743 6,548,322 8,407,065 3,004,197 74%
Net Surplus / (Deficit) 1,894,837 712,656 (2,358,280) (46,950) (9,458,212) (1,785,810) (8,334,132)
Beginning Cash Balance 14,473,182 12,586,134 14,473,182 14,473,182
Cash Adjustments (3,781,884) 1,174,391 3,047,830 -
Ending Cash Balance 12,586,134 14,473,182 15,162,732 5,014,970 11,360,183
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the collection of Tax Increment Financing (TIF) revenues for the Southside Development Area #1 and expenses of those funds on eligible development projects for this TIF
area.
Financing is provided by property tax proceeds in excess of those attributable to the assessed value of the property in the district before redevelopment. This fund receives revenue from interest
earned on the fund's cash balance.
Various projects and development opportunities include: South East Master Plan Implementation, Public Works projects, $3 million for Fire Station #8, and various development opportunities which
may be presented to the Redevelopment Commission in 2022.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name TIF - Douglas Road Fund Number 435
Fund Type Tax Increment Financing Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 269,923 308,581 233,288 169,320 169,320 - - 169,320 0%
Interest Earnings 687 3,018 12,570 10,824 10,824 3,648 3,648 7,176 34%
Total Revenue 270,610 311,600 245,859 180,144 180,144 3,648 3,648 176,496 2%
Expenditures by Type
Services & Charges
Professional Services 14,800 1,308 - - 74,175 - - - 74,175 0%
Total Services & Charges 14,800 1,308 - - 74,175 - - - 74,175 0%
Interfund Transfers Out 91,370 209,147 - - - - - - - -
Total Expenditures 106,170 210,455 - - 74,175 - - - 74,175 0%
Net Surplus / (Deficit) 164,440 101,145 245,859 180,144 105,969 3,648 3,648
Beginning Cash Balance 257,579 93,140 257,579 257,579
Cash Adjustments (328,879) 63,295 (145,504) -
Ending Cash Balance 93,140 257,579 357,934 363,548 608,056
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the collection of Tax Increment Financing (TIF) revenues for the Douglas Road Development Area and expenses of those funds on eligible development projects for this TIF
area. The Douglas Road TIF was established to develop the road and area near the border between South Bend and Mishawaka.
Financing is provided by property tax proceeds in excess of those attributable to the assessed value of the property in the district before redevelopment. This fund receives revenue from interest
earned on the fund's cash balance.
Prior to pay year 2021, the Redevelopment Commission did not collect the excess tax increment for use in projects. For pay year 2021 and after, the Redevelopment Commission has determined it will
collect the increment.
This fund will help fund a portion of the Douglas Road utility relocation by repaying $300,517.13 to the Sewage Works Capital Fund (#642) for the City's share of the project. The repayment was
started in 2021 and is anticipated to go through 2022 based on TIF revenue collections.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name TIF - River East Residential Area (NE Res) Fund Number 436
Fund Type Tax Increment Financing Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Property Taxes 6,299,000 6,268,217 7,228,216 6,097,948 6,097,948 - - 6,097,948 0%
Interest Earnings 19,471 56,636 157,758 117,973 117,973 54,396 54,396 63,577 46%
Total Revenue 6,318,471 6,324,854 7,385,974 6,215,921 6,215,921 54,396 54,396 6,161,525 1%
Expenditures by Type
Services & Charges
Professional Services 13,350 11,500 - 30,000 45,000 - 15,000 15,000 30,000 33%
Debt Service Principal 427,037 445,523 464,882 126,129 126,129 71,390 - 71,390 54,739 57%
Debt Service Interest & Fees 67,791 49,305 29,946 14,386 14,386 6,679 - 6,679 7,707 46%
Capital - - 338,132 - 2,561,868 13,740 2,313,536 2,327,276
Total Services & Charges 508,178 506,328 832,960 170,514 2,747,382 91,809 2,328,536 2,420,344 92,446 88%
Interfund Transfers Out 5,058,659 4,396,375 4,403,875 4,409,606 4,409,606 2,202,625 - 2,202,625 2,206,981 50%
Total Expenditures 5,566,837 4,902,703 5,236,835 4,580,121 7,156,989 2,294,434 2,328,536 4,622,969 2,299,427 65%
Net Surplus / (Deficit) 751,634 1,422,151 2,149,139 1,635,800 (941,068) (2,240,038) (4,568,574)
Beginning Cash Balance 5,429,968 4,678,334 5,429,968 5,429,968
Cash Adjustments (1,503,268) (670,516) (740,333) -
Ending Cash Balance 4,678,334 5,429,968 6,838,775 4,488,900 6,759,869
Cash Reserves Target - - - -
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund accounts for the collection of Tax Increment Financing (TIF) revenues for the River East Residential Development Area and expenses of those funds on eligible development projects for
this TIF area. The boundaries for this TIF district were changed as part of the TIF re-alignment during 2015. The fund was formerly known as the Northeast Residential TIF.
Financing is provided by property tax proceeds in excess of those attributable to the assessed value of the property in the district before redevelopment. This fund receives revenue from interest
earned on the fund's cash balance.
Professional Services will cover mandatory administrative costs related to TIF neutralization calculations. In 2021, in addition to debt service requirements, the fund was used for the first time to fund
various projects within or abutting and serving the TIF area. Those projects are anticipated to be ongoing in 2022. The development in the area has resulted in higher net assessed values and therefore
higher than anticipated TIF revenue collections.
This fund is used to repay bonds related to capital projects in the community. The repayment of the bonds is accounted for in separate debt service funds with the repayment being funded by
interfund transfers from this fund to the debt service funds (see Interfund Transfers Out). Also, this fund is repaying two interfund loans (see Debt Service Principal & Interest expense). Principal and
interest payments are made to the Major Moves Fund (#412). The loans will be paid off in 2024 and 2029.
Current debt includes:
• 2011/2013 Major Moves-Triangle Development Interfund Loan, (Repay Fund #412) - final payment 2/15/29, (debt schedule #84)
• 2011/2013 Major Moves-Eddy Street Commons Interfund Loan, (Repay Fund #412) - final payment 2/15/24, (debt schedule #85)
• 2015 South Bend Redevelopment Authority Lease Rental Revenue Bonds, Refunding 2008 (Eddy Street Commons Project), (Interfund Transfer to Fund #752) - final payment 2/15/33, (debt
schedule #54)
• 2017 Taxable Economic Development Revenue Bonds (Eddy Street Phase II), (Interfund Transfer to Fund #760) - final payment 2/15/37, (debt schedule #163)
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Airport 2003 Debt Reserve Fund Number 315
Fund Type Debt Service Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 6,133 10,084 30,526 - - 6,520 6,520 (6,520) -
Total Revenue 6,133 10,084 30,526 - - 6,520 6,520 (6,520) -
Expenditures by Type
Interfund Transfers Out 6,133 - - - - - - - - -
- - - 1,040,462 1,040,462 - - - 1,040,462 -
Total Expenditures 6,133 - - 1,040,462 1,040,462 - - - 1,040,462 0%
Net Surplus / (Deficit) - 10,084 30,526 (1,040,462) (1,040,462) 6,520 6,520
Beginning Cash Balance 1,040,462 1,040,462 1,040,462 1,040,462
Cash Adjustments - (10,084) (23,836) -
Ending Cash Balance 1,040,462 1,040,462 1,047,153 0 1,086,843
Cash Reserves Target 1,040,462 1,040,462 1,047,153 0
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This is a debt service fund which exists only to satisfy debt service reserve requirements of the outstanding 2011 Airport Development Area TIF Redevelopment Authority bonds (debt schedule #6)
for the airport taxable project.
Historically, this fund received revenue from interest earned on the fund's cash balance. In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund
The debt service reserve will be used towards the last debt service payment due August 1, 2024.
Cash Reserves Target
100% debt service reserve per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Airport 2003 Debt Reserve Fund Number 315
Fund Type Debt Service Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 6,133 10,084 30,526 - - 6,520 6,520 (6,520) -
Total Revenue 6,133 10,084 30,526 - - 6,520 6,520 (6,520) -
Expenditures by Type
Interfund Transfers Out 6,133 - - - - - - - - -
- - - 1,040,462 1,040,462 - - - 1,040,462 0%
Total Expenditures 6,133 - - 1,040,462 1,040,462 - - - 1,040,462 0%
Net Surplus / (Deficit) - 10,084 30,526 (1,040,462) (1,040,462) 6,520 6,520
Beginning Cash Balance 1,040,462 1,040,462 1,040,462 1,040,462
Cash Adjustments - (10,084) (23,836) -
Ending Cash Balance 1,040,462 1,040,462 1,047,153 0 1,086,843
Cash Reserves Target 1,040,462 1,040,462 1,047,153 0
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This is a debt service fund which exists only to satisfy debt service reserve requirements of the outstanding 2011 South Bend Downtown Central Development Area TIF Redevelopment Authority
bonds (debt schedule #5) for the Palais Royale project.
Historically, this fund received revenue from interest earned on the fund's cash balance. In 2022, the City will change its interest earnings allocation methodology to deposit interest earned by this fund
The debt service reserve will be used towards the last debt service payment due August 1, 2024.
Cash Reserves Target
100% debt service reserve per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2018 TIF Park Bond Debt Service Fund Number 351
Fund Type Debt Service Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 6,085 14,409 30,515 21,353 21,353 6,518 6,518 14,835 31%
Total Revenue 6,085 14,409 30,515 21,353 21,353 6,518 6,518 14,835 31%
Total Expenditures - - - - - - - - - -
Net Surplus / (Deficit) 6,085 14,409 30,515 21,353 21,353 6,518 6,518
Beginning Cash Balance 1,035,750 1,029,665 1,035,750 1,035,750
Cash Adjustments (12,169) (8,324) (19,498) -
Ending Cash Balance 1,029,665 1,035,750 1,046,766 1,057,103 1,086,442
Cash Reserves Target 1,029,665 1,035,750 1,046,766 1,057,103
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10590-18) to hold the debt service reserve for the Redevelopment District Bonds, Series 2018 (debt schedule #169). The bonds were issued for the purpose of
funding renovations and upgrades at Pulaski, Leeper, and Seitz Parks and improvements to the mixed use riverfront trail and other infrastructure improvements to park and recreation areas in or
serving the River West Development Area.
- The Redevelopment District Bonds, Series 2018 were closed on April 25, 2018 with a par amount of $11,995,000 and a premium of $96,103. The bonds have a net interest rate of 2.971%. The net
proceeds after bond issuance costs were $11,818,495. $993,495 was deposited into this fund per the bond agreement. The remaining $10,825,000 was deposited into the 2018 TIF Park Bond Capital
Fund (#452) and will be used towards the approved capital projects.
- The debt service reserve fund is funded from bond proceeds in an amount equal to maximum annual principal and interest due on the bonds. If moneys in the reserve fund are used to pay principal
and interest on the bonds, the balance will be restored from TIF revenues. Debt service payments are due on February 1 and August 1. The first debt service payment is due August 1, 2018 and the
final payment is due February 1, 2033. The debt service reserve will be used towards the last debt service payment.
At the time of issuance, $993,495 was deposited into this fund to be held as a reserve. This fund receives revenue from interest earned on the cash balance held at the trustee bank.
The debt service reserve will be used towards the last debt service payment due February 1, 2033.
Cash Reserves Target
100% debt service reserve per bond covenants
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2019 South Shore Double Tracking Debt Service Fund Number 352
Fund Type Debt Service Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 3 3 3 402 402 1 1 400 0%
Interfund Transfers In 1,036,500 1,035,000 1,035,500 1,033,625 1,033,625 519,000 519,000 514,625 50%
Total Revenue 1,036,503 1,035,003 1,035,503 1,034,027 1,034,027 519,001 519,001 515,025 50%
Expenditures by Type
Services & Charges
Debt Service Principal 650,000 685,000 720,000 760,000 760,000 375,000 - 375,000 385,000 49%
Debt Service Interest & Fees 377,750 344,750 310,125 273,625 273,625 141,500 - 141,500 132,125 52%
Total Services & Charges 1,027,750 1,029,750 1,030,125 1,033,625 1,033,625 516,500 - 516,500 517,125 50%
Total Expenditures 1,027,750 1,029,750 1,030,125 1,033,625 1,033,625 516,500 - 516,500 517,125 50%
Net Surplus / (Deficit) 8,753 5,253 5,378 402 402 2,501 2,501
Beginning Cash Balance 9,443 690 9,443 9,443
Cash Adjustments (17,506) 3,500 (125) -
Ending Cash Balance 690 9,443 14,696 9,844 22,575
Cash Reserves Target 690 9,443 14,696 9,844
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
100% debt service reserve per bond covenants
This fund is used to pay for the semi-annual payment of debt service principal and interest to the bondholders for the South Bend Redevelopment Authority Lease Rental Revenue Bonds of 2019
South Shore Double Tracking Project (debt schedule #200). The bonds were issued to fund the Northern Indiana Commuter Transportation District Main Line Double-Tracking Project, which will
be located partly within the geographical boundaries of the River West Development Area. The bonds were closed on December 28, 2019 with a par amount of $7,985,000 and a premium of
$1,462,840.60. The bonds have a net interest rate of 5%.
This fund receives interfund transfers from the River West TIF Fund (#324) in the amount of the lease rental payments per the debt schedule. This fund receives revenue from interest earned on the
cash balance held at the trustee bank.
At the time of issuance, $9,125,000 went towards the capital project, and the remaining amount went towards cost of issuance.
Lease rental payments are due on January 15 and July 15 and bond payments are due on February 1 and August 1. The final bond payment is due February 1, 2030.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2020 TIF Library Bond Debt Service Reserve Fund Number 353
Fund Type Debt Service Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 16 16 16 6,539 6,539 3 3 6,536 0%
Interfund Transfers In - - - - - - - - -
Total Revenue 16 16 16 6,539 6,539 3 3 6,536 0%
Expenditures by Type
Interfund Transfers Out 11 16 8 - - - - - - -
Total Expenditures 11 16 8 - - - - - - -
Net Surplus / (Deficit) 5 - 8 6,539 6,539 3 3
Beginning Cash Balance 326,944 326,939 326,944 326,944
Cash Adjustments (11) 5 (8) -
Ending Cash Balance 326,939 326,944 326,944 333,483 326,955
Cash Reserves Target 326,939 326,944 326,944 333,483
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
100% debt service reserve per bond covenants
This fund was established to hold the debt service reserve for the Taxable Economic Development Tax Increment Revenue Bonds, Series 2020, Community Education Center Project (debt schedule
#210). The bonds were issued to provide funds to the St. Joseph County Public Library for the purpose of construction, equipping, and furnishing of a new building for use as a community and
education center to provide new and flexible spaces for community meeting and training, events and conferences, and a larger auditorium to meet increasing demand for program space and allow for a
more diverse range of programs and community events.
- The par amount of the bonds was $4,225,000 with a premium of $120,058.95. The bonds were closed on October 28, 2020 with a net interest rate of 3%.
- The bond proceeds were deposited into the River West Development Area TIF Fund (#324). $4,000,000 went towards the capital project and the remaining amount went towards cost of issuance.
- The bonds are being repaid by Fund #324, with bond payments due on February 1 and August 1.
At the time of issuance, $326,937.50 was deposited into this fund to be held as a reserve. This fund receives revenue from interest earned on the cash balance held at the trustee bank.
The debt service reserve will be used towards the last debt service payment due February 1, 2037.
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Redevelopment General Fund Number 433
Fund Type Capital Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Local Income Taxes 3,543 556 352 100 100 0 0 100 0%
Hotel/Motel Taxes - 374,523 191,000 763,500 763,500 - - 763,500 0%
Interest Earnings 13,014 44,323 98,249 76,586 76,586 20,684 20,684 55,902 27%
Donations 1,411,877 1,000,000 1,364,412 1,000,000 1,000,000 - - 1,000,000 0%
Other Income 1,000 - - - - - - - -
Interfund Transfers In - - - 150,000 150,000 - - 150,000 0%
Total Revenue 1,429,434 1,419,402 1,654,014 1,990,186 1,990,186 20,685 20,685 1,969,502 1%
Expenditures by Type
Services & Charges
Professional Services 91 - 10,006 4,500 94,494 13,162 53,930 67,092 27,402 71%
Grants & Subsidies 538,272 460,417 1,397,903 - 1,126,964 27,684 640,281 667,965 458,999 59%
Total Services & Charges 538,363 460,417 1,407,909 4,500 1,221,458 40,846 694,211 735,057 486,401 60%
Capital - - - 1,000,000 1,000,000 - - - 1,000,000 0%
Interfund Transfers Out 147,786 381,500 763,000 750,388 750,388 381,500 - 381,500 368,888 51%
Total Expenditures 686,149 841,917 2,170,909 1,754,888 2,971,846 422,346 694,211 1,116,557 1,855,289 38%
Net Surplus / (Deficit) 743,285 577,485 (516,895) 235,299 (981,660) (401,662) (1,095,872)
Beginning Cash Balance 3,187,994 2,444,710 3,187,994 3,187,994
Cash Adjustments (1,486,570) 165,800 1,083,162 -
Ending Cash Balance 2,444,710 3,187,994 3,754,261 2,206,335 2,845,184
Cash Reserves Target 171,537 210,479 542,727 742,961
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
The Redevelopment Commission was established to address conditions associated with blight and the underutilization of land and/or barriers to development. The Commission operates within the
city limits. They study areas of the city, identify problem areas and develop a strategic plan for eliminating blight and bringing about new development within those areas. A primary focus is on the
expansion of tax base and the creation of new jobs within South Bend.
There are five voting members of the South Bend Redevelopment Commission. Three are appointed by the Mayor; two are appointed by the South Bend Common Council. Starting in 2021, one of
the Mayoral appointees is required to be a South Bend Community School Corporation Board of Trustees voting member. Prior to 2021, there was one additional member from the South Bend
Community School Corporation Board of School Trustees, appointed by the Mayor as a non-voting adviser to the Commission.
Starting in 2022, this fund will begin receiving hotel/motel tax revenue, remitted to the City by St. Joseph County. --- In 2022, the City issued revenue bonds, backed by the Hotel/Motel tax revenue,
to fund capital improvements to the Morris Performing Arts Center and Potawatomi Zoo. The Morris bonds debt service payments are tracked in the South Bend Redevelopment Authority Debt
Service Fund (#752) and the Zoo bonds debt service payments are tracked in the South Bend Building Corporation Fund (#755). The hotel/motel taxes received in this fund will be transferred to
debt service funds for the repayment of the bonds.
Starting in 2019, this fund receives the South Bend Redevelopment Commission's portion of the Local Income Tax (LIT) distribution from the State.
Starting in 2018, the City of South Bend will receive donations from the Pokagon Band of the Potawatomi, a Native American tribe, as "payment in lieu of taxes" for the Four Winds Casino built on
tribal land adjacent to the City. This is to be split between the General Fund (#101) and the Redevelopment General Fund (#433).
This fund also receives revenue from interest earned on the fund's cash balance.
Prior to 2019, this fund's sole expenditure was for general legal fees for the Redevelopment Commission. Starting in 2019, this fund will also be used for economic empowerment activities determined
by the Redevelopment Commission and the Department of Community Investment.
As outlined in the agreement with the Pokagon Band, the donations will fund initiatives broadly aimed at contributing to the improvement of educational opportunities in the City and to address
poverty and unemployment in the City. In 2022, projects will be aimed at addressing: Non-traditional financial capital and education, responsive neighborhood based amenities, and supporting the
creation and growth of small businesses.
Interfund Transfers Out are budgeted for the transfer of hotel/motel tax revenues from this fund to the debt service funds repaying the Morris and Zoo bonds (issued 2022).
• 2022 South Bend Redevelopment Authority Lease Rental Revenue Bonds (Morris Project), (Interfund Transfer to Fund #752) - final payment 2/1/46, (debt schedule #221)
• 2022 Economic Development Lease Rental Revenue Bonds (Potawatomi Zoo Project), (Interfund Transfer to Fund #755) - final payment 2/1/42, (debt schedule #222)
Cash Reserves Target
25% of Annual expenditures
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Certified Technology Park Fund Number 439
Fund Type Capital Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 65 155 328 230 230 70 70 160 31%
Total Revenue 65 155 328 230 230 70 70 160 31%
Expenditures by Type
Services & Charges
Professional Services - - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Capital - - - - - - - - - -
Total Expenditures - - - - - - - - - -
Net Surplus / (Deficit) 65 155 328 230 230 70 70
Beginning Cash Balance 11,145 11,080 11,145 11,145
Cash Adjustments (131) (90) (210) -
Ending Cash Balance 11,080 11,145 11,264 11,375 11,691
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established (ordinance 10148-12) to account for the collection of a special state tax distribution received at the end of 2011 and the use of those funds for improvements at Innovation
Park and Ignition Park, the city's dual-campus technology park.
From 2011 to 2014, this fund received $4,399,838 from a special state tax distribution for certified technology parks. Since then, this fund’s only source of revenue is interest earned on the fund's cash
balance.
2019 funds were budgeted for the new Technology Resource Center (opened during 2019). The Technology Resource Center (TRC) in South Bend’s Ignition Park was built to democratize
technology in our region. All will be welcome to the TRC to learn about technology and data, gain skills, and co-build an inclusive tech future for South Bend. A co-location between South Bend Code
School, the City’s Civic Innovation & Analytics Divisions, and Bloomberg-funded Commuters Trust, the space will be home to technology and data training, cross-sector “Beta City” collaborations,
and public programming about regional innovation.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2018 TIF Park Bond Capital Fund Number 452
Fund Type Capital Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 15,033 33,275 67,016 - - 11,629 11,629 (11,629) -
Total Revenue 15,033 33,275 67,016 - - 11,629 11,629 (11,629) -
Expenditures by Type
Services & Charges
Professional Services - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Capital 188,982 156,103 7,480 - 2,315,432 919,772 1,395,660 2,315,432 - 100%
Total Expenditures 188,982 156,103 7,480 - 2,315,432 919,772 1,395,660 2,315,432 - 100%
Net Surplus / (Deficit) (173,950) (122,827) 59,536 - (2,315,432) (908,143) (2,303,803)
Beginning Cash Balance 2,433,236 2,614,468 2,433,236 2,433,236
Cash Adjustments 355,182 (58,405) (189,921) -
Ending Cash Balance 2,614,468 2,433,236 2,302,851 117,804 1,460,059
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established to track the expenditures of the proceeds from the Redevelopment District Bonds, Series 2018. The bonds were issued for the purpose of funding renovations and upgrades
at Pulaski, Leeper, and Seitz Parks and improvements to the mixed-use riverfront trail and other infrastructure improvements to park and recreation areas in or serving the River West Development
Area.
The Redevelopment District Bonds, Series 2018 were closed on April 25, 2018 with a par amount of $11,995,000 and a premium of $96,103. The bonds have a net interest rate of 2.971%. The net
proceeds after bond issuance costs were $11,818,495. $993,495 was deposited into the 2018 TIF Park Bond Debt Service Fund (#351) per the bond agreement. The remaining $10,825,000 was
deposited into this fund to be used towards the approved capital projects.
Funding to be used to implement City park plans including improvements to: Howard Park, Lincolnway East Trail, West Bank Trail, Leeper Park, Seitz Park, and Pulaski Park.
Cash Reserves Target
No reserve requirement - Bond capital fund -
spend down to zero
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name Airport Urban Enterprise Zone Fund Number 454
Fund Type Capital Funds
Control Redevelopment Commission Controlled Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Interest Earnings 2,411 5,709 12,091 8,296 8,296 2,583 2,583 5,713 31%
Total Revenue 2,411 5,709 12,091 8,296 8,296 2,583 2,583 5,713 31%
Expenditures by Type
Services & Charges
Professional Services - - - - - - - - - -
Other Services & Charges - - - - - - - - - -
Total Services & Charges - - - - - - - - - -
Capital - - - - - - - - - -
Total Expenditures - - - - - - - - - -
Net Surplus / (Deficit) 2,411 5,709 12,091 8,296 8,296 2,583 2,583
Beginning Cash Balance 410,393 407,982 410,393 410,393
Cash Adjustments (4,822) (3,298) (7,726) -
Ending Cash Balance 407,982 410,393 414,758 418,689 430,479
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
This fund was established in 2009 to receive property tax proceeds derived from parcels located in the Airport Economic Development Area that are also located in the Urban Enterprise Zone, as
provided and permitted by Indiana law (IC 36-7-14-39(g)). All sums of money collected are to be used for programs in job training, job enrichment, and basic skill development that are designed to
benefit residents and employers in the Urban Enterprise Zone and for other purposes permitted within IC 36-7-14-39 and other applicable Tax Increment Finance State law.
In the past, a majority of this fund's revenue came from personal property taxes paid by AJ Wright. This fund has not received property tax revenue since 2013. Currently, this fund only receives
revenue from interest earned on the fund's cash balance.
This fund has been used in the past to pay for job training programs. Staff continue to work on developing eligible, viable program.
Cash Reserves Target
No reserve requirement
City of South Bend, Indiana
Monthly Financial Report
February 29, 2024
Fund Name 2023 South Bend Redevelopment Authority Fund Number 456
Fund Type Capital Funds
Control City Funds 2024 2024 2024
2024 2024 2024 2024 Total
2021 2022 2023 Original Amended Year-to-Date Current Year-to-Date Budget Percent of
Actual Actual Actual Budget Budget Actual Encumbrances & Encumb. Balance Budget
Revenue
Other Income - - 7,115,209 - - 101,673 101,673 (101,673) -
Debt Proceeds - - 33,098,353 - - - - - -
Interfund Transfers In - - - - - - - - -
Interest Earnings - - - - - 184,791 184,791 (184,791) -
Total Revenue - - 40,213,563 - - 286,464 - 286,464 (101,673) -
Expenditures by Type
Services & Charges
Debt Service Interest & Fees - - 490,359 - - - - - - -
Total Services & Charges - - 490,359 - - - - - - -
Capital - - - - - - - - - -
Interfund
Interfund Allocations - - 6,325,379 - 20,104,297 7,598,306 5,277,427 12,875,733 7,228,564 64%
Interfund Transfers Out - - - - - - - - - -
Total Interfund - - 6,325,379 - 20,104,297 7,598,306 5,277,427 12,875,733 7,228,564 64%
Total Expenditures - - 6,815,738 - 20,104,297 7,598,306 5,277,427 12,875,733 7,228,564 64%
Net Surplus / (Deficit) - - 33,397,825 - (20,104,297) (7,311,842) (12,589,268)
Beginning Cash Balance - - - -
Cash Adjustments - - (33,397,825) -
Ending Cash Balance - - - (20,104,297) 26,762,978
Cash Reserves Target - - - -
Fund Purpose:
Explanation of Revenue Sources:
Explanation of Expenditures and Significant Changes/Variances:
Cash Reserves Target
No reserve requirement - Bond capital fund -
spend down to zero
This fund was established in 2023 to track the expenditures of the proceeds from the South Bend Redevelopment Authority Lease Rental Revenue Bonds of 2023, Series A. The Series A bonds were
issued for the purpose of funding various public improvement projects located in the River East and River West TIF districts.
Bond proceeds from the South Bend Redevelopment Authority Lease Rental Revenue Bonds of 2023, Series A.
Expenditures will be related to the various public infrastructure improvement projects located within the South Bend Redevelopment Commission’s River West and River East Development Areas.