HomeMy WebLinkAbout2024 St. Joseph County Popular Annual Financial Report ST. JOSEPH COUNTY AUDITOR
227 W. Jefferson Blvd. Second Floor
County City Building
South Bend, IN 46601
John H. Murphy Abby Doyle
Auditor Chief Deputy
Date: December 19, 2025
To: Local Government Officials in St. Joseph County Feed in Clerk's Office
From: John Murphy,Auditor& Abby Doyle, Chief Deputy Auditor
Subject: St. Joseph County Popular Annual Financial Report Bianca Tirado
City Clerk, South Bend, IN
Attached are copies of the Popular Annual Financial Report(PAFR) for St. Joseph County for the
year ended December 31, 2024. The PAFR is designed to be a quick, reader-friendly look at the County's
most recent audited financial report.
We would appreciate it if you could make the PAFR available to any residents or visitors who are
interested in the report.
If you should have any questions, or need additional copies of the PAFR, please contact us at
jmurphy@sjcindiana.gov or adoyle@sjcindiana.gov.
4
ST. JOSEPH COUNTY
ESTABLISHED 1830
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TABLE OF
CONTENTS
INTRODUCTION o1
ORGANIZATIONAL STRUCTURE 02
OUR COMMUNITY 03
ECONOMIC OUTLOOK 04
NET POSITION 05
CAPITAL ASSETS 05
DEBT 06
GOVERNMENTAL FUND REVENUES 07
GOVERNMENTAL FUND EXPENDITURES 08
GENERAL FUND REVENUES 09
GENERAL FUND EXPENDITURES 10
STAY CONNECTED 11
RESIDENTS AND VISITORS
As part of the County's ongoing efforts to promote , '
financial accountability and transparency, St.
Joseph County, Indiana is pleased to present its
first-ever Popular Annual Financial Report (PAFR) 1 444
for the fiscal year ending December 31 , 2024. Our •
PAFR is intended to summarize specifically county
general government's complex financial information •
that is in the County's 366-page Annual Comprehensive Report (ACFR) in a way that
is understandable, accessible, and relevant to every resident and visitor of our great
county (financial data for the South Bend Airport, Solid Waste Management District,
and two libraries were excluded from the PAFR). If you wish to dig into the County's
finances more deeply, I encourage you to review the ACFR on our website.
St. Joseph County was blessed with many successes during 2024. Its Economic
Development team was able to attract two major companies. The first was a $3.5
billion EV battery plant with General Motors/Samsung SDI and the second was a $11
billion campus of data centers with Amazon Web Services, the largest single
investment in the State of Indiana history.
St. Joseph County performed very well financially during 2024. It increased its
General Fund balance by $15.9 million dollars. The General Fund is the most
important fund in the County and pays for the police department, jail, court offices,
prosecutor's office and other services. In 2024, total revenue in all funds was $277.9
million and total expenditures in all funds were $282.3 million. Total fund balance was
$189.1 million at the end of 2024.
Located in north-central Indiana, with 273,744 residents, and home to the University
of Notre Dame Fighting Irish, St. Joseph County is a great place to work, live and
thrive!
Carl H. Baxmeyer
President, St. Joseph County Commissioners
yam, + ; . y_
2024 POPULAR ANNUAL FINANCIAL REPORT 1
ORGANIZATIONAL STRUCTURE
The Board of County Commissioners serves as the Board of
executive and administrative authority for the county. It Commissione
operates and maintains all county facilities and County
property; negotiates contracts; permits all purchasing Council
and claim payments; receives bids for construction
projects and maintenance of roads and bridges; makes Assessor
appointments to certain boards and authorities;
oversees certain election functions; and serves on the Auditor
Board of County Finance.
CID
The County Council has been constituted to pass any
and all ordinances and resolutions including those for Coroner
taxation, finance and the
appropriation of money, and Citizens of Courts
St. Joseph County
approves the annual county budget.
The Council is made up of four committees that have Penn
Assessor
seven councilmembers each. The committees are
Engineering & Transportation, Budget & Administration, Prosecutor
Land Use Planning, and Human Services/Criminal
Justice.
Recorder
Full-Time Employees (FTES) by Function
(2024 Numbers)
600
550
�+ f 549 Surveyor
50000 f/
450
w 400 374
u_ 350 —
1=1)
300
E 250
z 200
150 160
100 100
78
50 — • 45
0 — 1,306
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Year
• Public Safety • Law&Courts General Government
Health&Welfare fi! Public Works Culture&Recreation
2024 POPULAR ANNUAL FINANCIAL REPORT 2
OUR flf" MUNITY
St. Joseph County is home to major employers in higher education, health care
services and manufacturing. The following is a listing of major employers in the
County:
• AM General Corporation .k
• Beacon Health System/Memorial Hospital A .,...
p —
• City of South Bend
ai ' N
• Honeywell Aerospace . lit .II `
• Indiana University South Bend sT
IMMi
• Press Ganey Associates, Inc. iLii,
• Schurz Communications 411
rrio, ,1 la• South Bend Community School Corp. )-;. . it ; ii V:• St. Jose h Count
• The South Bend Clinic LLP '' .
• Trinity Health/Saint Joseph Regional Medical Center
• University of Notre Dame
<19
AA- $64,885
Median Family
461.38 Bond Rating Income
Square Miles 3 0.
273,744 Police
Approximate Population 9 Stations
. . I i it 1
Parks
li
1 ,258 1,132
• Park Acre Streets (Miles)
ZNIS-179,800 Pr
36.7 years 41 37 30
Median Age Streetligh Traffic Signal Hiking Trails
2024 POPULAR ANNUAL FINANCIAL REPORT I 3
ECONfMIC OUTI nOK
Economic Development achieved significant milestones this year, securing two major
projects that garnered national attention. The first was a $3.5 billion EV battery plant
with General Motors/Samsung SDI, and the second was an $11 billion data center
campus with Amazon Web Services. In addition, the Area Plan Department
published the 2045 Comprehensive Plan, a project under development since 2020.
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At Amazon 's Biggest Data Center,
Everythingis Supersized orA.I.
On 1,200 acres of cornfield in Indiana, Amazon is building one of
the largest computers ever for work with Anthropic, an artificial
intelligence start-up.
By Karen Weise and Cade Metz - Visuals by A.J. Mast
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2024 POPULAR ANNUAL FINANCIAL REPORT I 4
NET POSITION
St. Joseph County's total net worth (or "net position") as of December 31 , 2024,
including all government activities, decreased by $9.3 million in fiscal year 2024,
reaching a net position of $307.7 million. The primary reason for the decrease in net
position was one-time capital expenditures for Economic Development Projects.
Net Investment in Capital Assets ($289.5
million) 2020-2024 Net Position
The portion invested in capital assets are 35°
used to provide services to citizens.
300
Consequently, these assets are not
available for future spending. 250
Co
Restricted Net Position ($6.1 million) 200
The portion restricted for specific uses, To 150
such as debt service, capital projects, and 1
public safety. 100
Unrestricted Net Position ($12.1 million) 50
The portion which may be used to meet the o
2022
government's ongoing obligations to its 2020 2021 Year 2023 2024
citizens and creditors.
CAPITAL ASSETS
St. Joseph County's net investment in capital assets for governmental activities
amounts to $289.5 million. "Capital assets" include land, buildings and related
systems, improvements, machinery and equipment, park facilities, roads, highways
and bridges.
4.
- = _-_ --
2024 POPULAR ANNUAL FINANCIAL REPORT 5
DEBT
In 2024, St. Joseph County issued bonds in the amount of $50 million to support the
General Motors/Samsung EV battery plant located in the southwestern area of the
county. The companies have agreed to reimburse the county for $45 million on these
bonds over 10 years.
. Debt by Type
i General Obligation Bonds
$7.9 million; 8.8%
Notes Payable
$4.8 million; 5.4%
oproppw-
Lease Liability
$0.1 million; .2%
Revenue Bonds
$76.3 million; 85.6%
2020-2024 Outstanding Debt
100 $89.1 million
c 80
0
60 $51.6 million $48 million
try
c 40
o $47.4 million $42.2 million
Q 20
0
2020 2021 2022 2023 2024
Year
2024 POPULAR ANNUAL FINANCIAL REPORT 16
GO\/P RNNIPE P hP Fl JNJf RP\/FNUEq
St. Joseph County's governmental funds reflect the county's basic services, including
public safety, public works, culture & recreation, general government, etc.
For fiscal year 2024 ending December 31 , 2024, the county's revenue for all
governmental funds totaled $277.9 million and represents an increase of $47.2
million compared to fiscal year 2023.
Major revenue variances include the following: increase of $13.2 million in Taxes due
to a combination of general growth in the property tax base, new construction and
higher local income tax revenue due to growth; increase of $5.6 million in Charges for
Services due to an increase in community use of county services; increase of $34.2
million in Other Revenue due primarily to one-time revenues.
$277.9 Million in Governmental Fund Revenues
Taxes: 52%
I 1 1-I I I Revenue from Property Taxes collected from property owners and
based upon an assessed valuation and tax rate; Local Income
Taxes at 1 .75% of salaries and wages of workers in the county; and
Auto Excise Taxes, Financial Institutions Taxes, and Commercial
Vehicle Excise Taxes.
Other Revenue: 24%
Revenue from various sources such as interest earnings, lawsuit
settlements, Amazon Web Services, reimbursements, donations,
property tax refunds, etc.
=@—, Intergovernmental Receipts: 15%
mmo Revenue from other governments in the form of grants,
' contributions, shared revenues, etc.
Charges for Services: 8%
Fees collected for general government services and includes 911
fees, recreations activity fees, planning an developments fees, etc.
s ' Other Sources: 1 %
This category includes the sources of Licenses and Permits,
Special Assessments, and Gain/(Loss) Investments.
2024 POPULAR ANNUAL FINANCIAL REPORT 7
nnvvFRRIMPrIT4 P FP II\,I f PYPFNPPTI IRFc
For fiscal year 2024 ending December 31 , 2024, the county's expenditures for all
governmental funds totaled $282.3 million and represents an increase of $71 .6
million compared to fiscal year 2023.
Major expenditure variances include the following: increase of $12.9 million in Public
Safety due to an increase in salaries and medical expenses; increase of $5.9 million
in Highway and Streets due to higher capital project spending; increase of $25.8
million in Economic Development due to higher capital project spending; increase of
$1 .9 million in Debt Principal/Interest due to new debt; increase of $43 million in
Capital Outlay due to New Carlisle projects, like the GM/Samsung battery plant.
$282.3 Million in Governmental Fund Expenditures
General Government: 26%
Expenditures for general administrative offices including County
f " Council, Board of Commissioners, Human Resources, Information
Technology, Prosecutor, Courts, etc.
Capital Outlay: 24%
"' `I3 21 Expenditures incurred for capital improvements throughout the
co.aoo
county, including roads, bridges, building improvements, and
technology.
Public Safety: 23%
_ Expenditures incurred for public safety activities including police
and jail services, and a 911 call center.
Public Works: 16%
®ma% This includes Economic Development and Highways & Streets,
which are expenditures incurred in providing engineering and
capital investment.
Health & Welfare: 6%
. [23
Expenditures incurred for public health initiatives for the county,
including a county health department.
Debt Service: 4%E Expenditures incurred debt payments on principal and interest.
A o Culture & Recreation: 1 %
Low° Expenditures incurred for maintaining county parks.
N
2024 POPULAR ANNUAL FINANCIAL REPORT 18
GENERAL FUND REVENUES
The General Fund is the chief operating fund of St. Joseph County. In Fiscal Year
2024, the starting balance of the General Fund was $42.1 million and the ending
balance was $58 million, an increase of $15.9 million.
Within the $68.5 million of Taxes revenue, $50.1 million was Property Tax revenue
and $14.2 million was Local Income Tax revenue. Intergovernmental revenue of $7.1 •
million includes federal and state grants for child support, law enforcement, county
jail, and public defenders office. Other Revenue of $35.9 million includes interest •
earnings, tax refunds, donations, cable/television revenue, gaming revenue, and
reimbursements. Charges & Services of $5.1 million includes court fees,
rental/leases of county facilities, and sheriff's office fees.
$116.6M
General Fund 6.1%
Revenues
Taxes $68,467,198
Intergovernmental $7,078,860
Charges for Services $5,072,451
Other Revenue $35,977,120
Total $116,595,629
2024 POPULAR ANNUAL FINANCIAL REPORT 9
GENERAL FUND EXPENDITURES
St. Joseph County's General Fund Expenditures totaled $101 .8 million in Fiscal Year
2024. These expenditures include many essential services, such as public safety,
economic development, and health.
General Government is the largest expenditure category that includes elected offices
(i.e. Clerk, Assessor, Auditor, Prosecutor, County Council, and Commissioners).
Public Safety includes the Sheriff Department, jail, and Emergency Management
Agency.
4%
$101 .8M
General Fund
Expenditures
31 .5%
40110
General Government $61,144,846
■ Public Safety $32,050,172
Health &Welfare $4,558,069
Highways & Streets $1,721,108
Capital Outlay; Economic Development $1,536,051
Debt Service; Culture & Recreation $811,418
Total $101,821,664
2024 POPULAR ANNUAL FINANCIAL REPORT 110
STAY fONmECTED
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Please share your comments and
suggestions by contacting John in St. Joseph County
Murphy, Auditor, at
•
jmurphy@sjc:indiana.gov or Abby ► @sjcindianacommissioners2608
Doyle, Chief Deputy Auditor, at
adoyle@sjcindiana.gov. ars jcindiana.gov/auditor
2024 POPULAR ANNUAL FINANCIAL REPORT 111