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2012 Comprehensive Annual Financial Report
Comprehensive Buttigieg nnual Financial Report Fiscal Year ending December 31, 2012 Prepared by: Department of Administration and Finance Mark Neal, City Controller U T1 U PEACE �fe r a 1865 Comprehensive Annual Finance Report City of South Bend, Indiana For the year ending December 31, 2012 Prepared by: Department of Administration & Finance Mark Neal, City Controller U Tf U PEACE �fe r a 1865 Introductory Section City of South Bend, Indiana Comprehensive Annual Financial Report For The Year Ending December 31, 2012 Table of Contents INTRODUCTORY SECTION Tableof Contents ...................................................................................... ............................... P1 -P3 CityOfficials .................................................................................. ............................... 1 Controller's Letter of Transmittal ................................................................. ...........................2 -14 Certificate of Achievement for Excellence in Financial Reporting ................... ............................... 15 OrganizationChart ............................................................................................ .............................16 II FINANCIAL SECTION Independent Auditor's Report on Financial Statements and Supplementary Schedule of Expenditures of Federal Awards ................. ..........................18 -20 Management's Discussion and Analysis ......................................................... ..........................21 -41 Basic Financial Statements: Government -Wide Financial Statements: Statement of Net Position .................................................................. ..........................42 -43 Statementof Activities ........................................................................ ............................... 44 Fund Financial Statements: Balance Sheet — Governmental Funds .............................................. ..........................45 -46 Statement of Revenues, Expenditures and Other Changes in Fund Balances — Governmental Funds ................................................ ............................... 47 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities ...................... 48 Statement of Net Position — Proprietary Funds .................................. ..........................49 -50 Statement of Revenues, Expenses and Other Changes in Fund Net Position — Proprietary Funds ........................................ ..........................51 -52 Statement of Cash Flows — Proprietary Funds .................................. ..........................53 -54 Statement of Fiduciary Net Position — Fiduciary Funds ..................... ............................... 55 Statement of Changes in Fiduciary Net Position — Fiduciary Funds .. ............................... 56 Notes to Financial Statements .................................................................. ..........................57 -99 Reauired SunDlementary Information: Schedules of Funding Progress .............................................................. ............................... 100 Schedules of Contributions from the Employer and Other Contributing Entities ................... 101 Budgetary Comparison Schedules — General Fund & Major Special Revenue Funds... 102 -109 Budget /GAAP Reconciliation .................................................................. ............................... 110 III Governmental Funds: Combining and Individual Fund Statements and Schedules: Description — Nonmajor Governmental Funds ........ ............................... ........................112 -118 Combining Balance Sheet — Nonmajor Governmental Funds ................ ........................119 -129 Combining Statement of Revenues, Expenditures and Other Changes in Fund Balances — Nonmajor Governmental Funds ..... ............................... ........................130 -140 Schedules of Revenues, Expenditures, and Changes in Fund Balances — Budget and Actual .......................... ............................... ........................141 -199 P1 City of South Bend, Indiana Comprehensive Annual Financial Report For The Year Ending December 31, 2012 Table of Contents FINANCIAL SECTION (Continued) IV Nonmajor Enterprise Funds: Combininq and Individual Fund Statements and Schedules: Description.............................................................................................. ............................... 201 Combining Statement of Net Position ...................... ............................... ........................202 -203 Combining Statement of Revenues, Expenses and Other Changes in FundNet Position ................................................. ............................... ............................204 Combining Statement of Cash Flows ...................... ............................... ........................205 -206 V Internal Service Funds: Combining and Individual Fund Statements and Schedules: Description.............................................................................................. ............................... 208 Combining Statement of Net Position ..................................................... ............................... 209 Combining Statement of Revenues, Expenses and Changes in FundNet Position ............................................................................. ............................... 210 Combining Statement of Cash Flows ...................... ............................... ........................211 -212 VI Fiduciary Funds: Combining and Individual Fund Statements and Schedules: Description.............................................................................................. ............................... 214 Combining Statement of Fiduciary Net Position — Pension Trust Funds ............................... 215 Combining Statement of Changes in Fiduciary Net Position — Pension Trust Funds............ 216 Statement of Changes in Assets and Liabilities — Agency Funds ........... ............................... 217 VII STATISTICAL SECTION FinancialTrends ......................................................................................... ............................... 219 Net Position by Component — Last Ten Years ........................................ ............................... 220 Changes in Net Position — Last Ten Years .............. ............................... ........................221 -223 Fund Balances, Governmental Funds — Last Ten Years ........................ ............................... 224 Changes in Fund Balances, Governmental Funds — Last Ten Years .... ............................... 225 RevenueCapacity ....................................................................................... ............................... 226 Property Tax Levies and Collections — Last Ten Years .......................... ............................... 227 Direct and Overlapping Property Tax Rates — Last Ten Years ............... ............................... 228 Detail of Net Assessed Valuation — For Year 2011 Payable 2012 .......... ............................... 229 Assessed Value and Actual Value of Taxable Property— Last Ten Years ............................ 230 Net Assessed Value of Taxable Property — Last Ten Years ................... ............................... 231 Property Tax Collections — Cash Basis — 2003 to 2012 ......................... ............................... 232 Principal Property Taxpayers — Current and Nine Years Ago ................. ............................... 233 Local Option Income Tax Revenue — Last Ten Years ( CEDIT) .............. ............................... 234 Local Option Income Tax Revenue — Last Ten Years ( COIT) ................ ............................... 235 Local Option Income Tax Revenue — Last Ten Years (PS LOIT) ........... ............................... 236 Total County Option Income Tax Distributions by Taxing Unit — 2002 - 2012 ....................... 237 Ten Largest Water Customers — December 31, 2012 ........................... ............................... 238 Ten Largest Sewage Works Customers — December 31, 2012 ............. ............................... 239 Gasoline Tax Collections — Cash Basis — Last Ten Years ..................... ............................... 240 Wheel and Excise Surtax Collections — Cash Basis — 2004 to 2012 ...... ............................... 241 Hotel / Motel Tax Revenue — Last Ten Years ......................................... ............................... 242 Professional Sports Development Tax — Cash Basis — Last Ten Years . ............................... 243 Cable Television Franchise Fee Collections — Cash Basis — Last Ten Years ....................... 244 P2 City of South Bend, Indiana Comprehensive Annual Financial Report For The Year Ending December 31, 2012 Table of Contents STATISTICAL SECTION (Continued) DebtCapacity ............................................................................................ ............................... 245 Computation of Legal Debt Margin — December 31, 2012 ............. ............................... 246 Legal Debt Margin Information — Last Ten Years ............................... ............................... 247 Ratios of Outstanding Debt by Type — Last Ten Years .......................... ............................... 248 Computation of Direct and Overlapping Debt — December 31, 2012 ..... ............................... 249 Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to Total General Governmental Expenditures — Last Ten Years ......... ............................... 250 Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt Per Capita — Last Ten Years ............................................................ ............................... 251 Schedule of Revenue Bond Coverage — Water Utility Bonds — Last Ten Years ................... 252 Schedule of Revenue Bond Coverage — Wastewater Utility Bonds — Last Ten Years.......... 253 Annual Wastewater Flow Data and Number of Customers .................... ............................... 254 Statement of City -Owned Utility Debt ..................................................... ............................... 255 Estimated Debt Service Coverage Calculation of Sewage Works ......... ............................... 256 Estimated Debt Service Coverage Calculation of Water Utility ................. ............................257 Projected COIT Revenues .......................................... ............................... ............................258 Statement of Estimated Cash Flow and Debt Service Coverage ........... ............................... 259 Estimated Tax Increment Revenue — Erskine Village Project ................ ............................... 260 Demographic and Economic Information ................................................. ............................... 261 Demographic Statistics — Last Ten Years ............... ............................... ........................262 -263 Comparison of Growth Rates in Personal Income for St. Joseph County, The State of Indiana and U.S. Personal Income .. ............................... ............................264 Principal Employers — Current and Nine Years Ago — December 31, 2012 .......................... 265 Operating and Other Information .............................................................. ............................... 266 Operating Indicators by Function /Program — Last Ten Fiscal Years ...... ............................... 267 Capital Asset and Infrastructure Statistics by Function /Program — Last Ten Years .............. 268 New Construction — Number of Permits and Property Values — Last Ten Years .................. 269 Full -Time Equivalent City Government Employees by Department — Last Ten Years ...270 -271 Salary Rate Comparison — 1990 to 2012 ................................................ ............................... 272 InsuranceCoverage — 2012 ................................................................... ............................... 273 Miscellaneous Statistics — December 31, 2012 ....... ............................... ........................274 -275 P3 CITY OFFICIALS Office Official Term Mayor Pete Buttigieg 01 -01 -12 to 12 -31 -15 Controller Mark Neal 01 -01 -12 to 12 -31 -15 City Clerk John Voorde 01 -01 -12 to 12 -31 -15 President of the Board of Public Works Gary A. Gilot 01 -01 -12 to 12 -31 -13 Common Council Members 1St District Tim Scott 01 -01 -12 to 12 -31 -15 2nd District Henry Davis, Jr. 01 -01 -12 to 12 -31 -15 3rd District Tom LaFountain 01 -01 -12 to 12 -31 -15 3rd District Valerie Schey 01 -01 -12 to 12 -31 -15 4th District Fred Ferlic 01 -01 -12 to 12 -31 -15 5th District David Varner 01 -01 -12 to 12 -31 -15 6th District Oliver Davis 01 -01 -12 to 12 -31 -15 At Large Karen L. White 01 -01 -12 to 12 -31 -15 At Large Derek D. Dieter 01 -01 -12 to 12 -31 -15 At Large Gavin Ferlic 01 -01 -12 to 12 -31 -15 1 120ON COUNTY -CITY BUILDING 227 W. JEFFERSON BLVD. SOUTH BEND, INDIANA 46601 -1830 CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR PHONE 574/ 235 -9216 FAX 574/ 235 -9928 DEPARTMENT OF ADMINISTRATION AND FINANCE June 28, 2013 The Honorable Pete Buttigieg, Mayor of the City of South Bend Members of the City of South Bend Common Council Residents of the City of South Bend: The comprehensive annual financial report of the City of South Bend, Indiana (the "City ") for the year ended December 31, 2012 is hereby submitted. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures, rests with management. To the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds of the City. All disclosures necessary to enable the reader to gain an understanding of the government's financial activities are included. Generally Accepted Accounting Principles (GAAP) requires that management provide a narrative introduction, overview and analysis to accompany the basic financial statements in the form of the Management's Discussion and Analysis (MD &A). This letter of transmittal is designed to complement the MD &A and should be read in conjunction with it. The City of South Bend's MD &A can be found immediately following the independent auditors report. The comprehensive annual financial report is presented in four sections: introductory information, financial information, statistical information and federal compliance information. The introductory section includes this transmittal letter, the City's organizational chart, a list of principal City officials and the Certificate of Achievement for Excellence in Financial Reporting awarded to the City of South Bend for the year ending December 31, 2011. The financial section begins with the independent auditors' report on the City's financial statements and schedules, the City managements' discussion and analysis report, followed by the City's basic financial statements and accompanying notes. The remaining portion of this section includes the combining and individual fund and other financial statements and schedules. The statistical section includes selected financial and demographic information generally presented on a multi- year basis, which has been provided to give the reader a broader understanding of the City. The federal awards compliance section, which includes the results of the supplemental audit of the City's federal awards and the internal controls necessary for compliance, is included in a separate report. The City is required to undergo an annual single audit in conformity with the provisions of the U.S. Office of Management and Budget Circular A -133, Audits of States, Local Governments V, and Non - Profit Organizations, the provisions of Indiana Code section 5- 11 -1 -9 and the requirements of the Indiana State Board of Accounts. Information related to the single audit, including the schedule of federal financial assistance, findings and recommendations, and the auditors' reports on the internal control structure and compliance with applicable laws and regulations, is included in a separate report. The following pages of this transmittal letter begin with a general overview of South Bend and the surrounding area. Also summarized are the key financial, budgetary and property tax controls with which the City is required to comply. The remainder includes a discussion of the prior year's financial challenges and accomplishments, the City's goals and objectives for this year and beyond and other key issues the City is facing along with the impact they may have on current and future budgets. GENERAL INFORMATION The City of South Bend is the county seat of St. Joseph County, Indiana, and is the fourth largest city in the state. The City of South Bend's 2010 U.S. Bureau of the Census population was 101,168. Accordingly, South Bend is classified as a "City of the Second Class" under Indiana statutes (cities with a population of 35,000 to 250,000). The City of South Bend operates with a mayor as chief executive and a nine - member City Common Council composed of six members elected from districts and three members elected at- large. The City provides a full range of traditional general governmental services to its citizens. These services include police and fire protection; sanitation services; the construction and maintenance of highways, streets and infrastructure; recreational activities and cultural events. In addition to general governmental activities, the City exercises oversight over the South Bend Water Works, the South Bend Wastewater Treatment Facility, the Century Center Convention Center, the Morris Performing Arts Center, the Studebaker National Museum, the City of South Bend Redevelopment Commission and Authority, and several downtown parking facilities. Location St. Joseph County lies within the heartland of the manufacturing belt and metropolitan regions of the Upper Midwest and Canada. The City of South Bend is located in the north central part of Indiana, ten miles south of the Michigan state line, and is commonly known to be within the " Michiana" area. The Michiana area is a vibrant and diverse area with a strong economy based on a mix of health care, agricultural, service, manufacturing, education and other commercial and tourism industries. This diverse economic mix creates varied employment opportunities for the area's residents while providing insulation via diversification from future economic downturns. The city is approximately 90 miles east of Chicago and 140 miles north of Indianapolis. Accessibility to transportation, including Interstate 80/90, a regional airport (which is the second busiest in the State of Indiana) and the South Shore Line has supported economic growth within the community. Proximity to Chicago, the largest rail and intermodal (rail /truck/ocean/inland 3 waterway) transfer point in the country, is a significant advantage to the City of South Bend as is proximity to the University of Notre Dame with its scenic campus located adjacent to the city limits. St. Joseph County / South Bend - Economic Conditions and Outlook St. Joseph County, with its 2010 U.S. Bureau of the Census population of 266,931, boasts a strong history of manufacturing which continues today. The service industry and retail trade have also flourished, creating a balance that serves the community well. The County experienced a net growth in population of 28,317 (11.8% increase) between 1960 and 2010. After experiencing a reduction of 2.6% during 1969 to 1983, at which time the entire Midwest was at the depth of its economic restructuring and recess, the County's population increased 4.0% between 1983 and 1990 and another 7.5% between 1990 and 2000. The population of St. Joseph County has remained fairly flat during the past decade increasing by only 1,372 residents from 2000 to 2010. The estimated labor force in St. Joseph County is 135,516 workers (US Census Bureau 2007- 2011 Survey 5 -Year Estimates). The workers are typical of the Midwest: well trained with a strong work ethic. Approximately 87.5% of the area's adult population are high school graduates or higher (as compared to the national average of 75 %) with an estimated 26.2% with a Bachelor's Degree or higher. There are ten colleges, universities and technical schools within South Bend and the surrounding area including the University of Notre Dame; Indiana University South Bend; Bethel College; Saint Mary's College; Purdue University College of Technology at South Bend; Holy Cross College; Trine University South Bend; Brown Mackie College; ITT Technical Institute; and Ivy Tech Community College. At the high school level, there are school - to -work transition programs. As of April 2013, St. Joseph County is experiencing an unemployment rate of 9.7 %, which is higher than the State of Indiana unemployment rate of 8.5 %. The unemployment rate in St. Joseph County is somewhat higher than some of its surrounding counties—Elkhart (9.4 %), LaPorte (11.6 %), and Marshall (9.5 %) in Indiana and Cass (7.3 %) and Berrien (8.8 %) in Michigan (as of March 2013). The employment profile for St. Joseph County provides a good overview of the economic make- up of this community. Employment estimates for the County's major economic sectors are as follows (US Census Bureau 2007 -2011 Survey 5 -Year Estimates Civilian Employed Population): Economic Sector Number Employed % of Total Educational Services, Healthcare, Social Assistance 32,442 26.7% Manufacturing 20,204 16.6% Retail Trade 14,014 11.5% Arts, Entertainment, Recreation, Accommodation, 11,120 9.1% Food Services Professional, Scientific, Management, Administrative, 9,858 8.1% Waste Management Services Finance and Insurance, Real Estate, Rentals, Leasing 6,956 5.7% Construction 6,168 5.1% Transportation and Warehousing, and Utilities 5,644 4.6% Other Services, except Public Administration 5,530 4.5% Wholesale Trade 3,824 3.1% 4 Public Administration 3,334 2.7% Information 2,105 1.7% Agriculture, Forestry, Fishing, Hunting, Mining 514 0.4% Total 121,713 100.00% St. Joseph County presently has an estimated 101,071 households with an average per capita personal income of $23,420, which compares to the State of Indiana average per capita income of $24,497 and the United States per capita income of $27,915. The per capita income in St. Joseph County compares favorably with many of its surrounding counties — Elkhart ($21,879), La Porte ($22,968), and Marshall ($22,376) in Indiana and Cass ($23,045) and Berrien ($24,490) in Michigan. Health and education lead the employment statistics for St. Joseph County. The largest employers in St. Joseph County as of December 2012 were as follows: University of Notre Dame (4,707); South Bend Community School Corporation (3,212); Memorial Health Systems (3,545); Saint Joseph Regional Medical Center (2,123); The Diocese of Fort Wayne /South Bend (1,094); AM General (2.400); 1St Source Bank (1,257); the City of South Bend (1,361); St. Joseph County (1,211); and Martin's (1,062). The following provides a profile of the residents of St. Joseph County: Gender: 48.5% male; 51.5% female Age: 36.2% 0 -24 years of age; 25.3% 25 -44 years of age; 25.3% 45 -64 years of age; and 13.2% 65 years of age and older. Race: 76.0% White; 12.4% Black/African American; 7.1% Hispanic /Latino; 1.7% Asian; and 2.8% Other Marital Status: 46.1% Married; 53.9% Single /Widowed/Divorced /Other Home Ownership: 70.7% own; 29.3% rent /other The cost of living continues to be one of the greatest advantages of living in this community. The housing costs in South Bend are well below the national and regional averages. Per a report compiled by the National Association of Realtors in the first quarter of 2012, the median sales price for a single family home in the South Bend - Mishawaka Statistical Area was $69,400 as compared to a median sales price of $157,200 in Chicago and $115,400 in Indianapolis. The national median sales price is $158,000. The City of South Bend continues to place high emphasis on a growing and diversified local economy. It has been active in developing ten industrial parks, offering itself as a low -cost alternative to the Chicago metropolitan area to companies engaged in light manufacturing, distribution and services. More than 240 businesses operate in South Bend's industrial parks, 41 including companies engaged in metalworking, plastics, warehousing and distribution, and professional services. In recent years, the City has developed Innovation and Ignition parks, the first dual -site, state - certified technology park in the State of Indiana. The South Bend Community School Corporation serves the entire City and some of the surrounding area and has a current enrollment of approximately 18,982 students in grades kindergarten through high school. An estimated 5,757 students attend private or parochial schools within the City. The nine institutions of higher education and technical training located within the South Bend area have a total enrollment of approximately 31,166. Over the years, the University of Notre Dame has provided a stabilizing influence on the economy with a very significant positive economic impact upon the community. South Bend History and Amenities In 1820, Pierre Navarre of the American Fur Trading Company was the first settler in the area to become later known as South Bend. South Bend has continued to progress in its growth since 1842 when Father Edward Sorin named his rustic log chapel "Notre Dame du Lac" and began to teach the local Indians. Today the chapel has grown into the University of Notre Dame. In 1852, H.C. Studebaker started the industry of making wagons and horse -drawn buggies that evolved into the manufacturing of the Studebaker automobile. It made the name Studebaker synonymous with the area of South Bend and its major employer until its closure in 1963. Another industrial firm that would later become the area's largest began in 1923 when Vincent Bendix began manufacturing automotive brakes. In 1929 the company became the Bendix Aviation Corporation, and now, as Honeywell (formerly AlliedSignal Inc.), is a leading manufacturer of automotive and aerospace products. The Singer Sewing Company and the Oliver Chilled Plow Works were other important companies during the early history of South Bend. Special attractions within the South Bend area include the Olympic -class East Race Waterway and the East Bank area; the renovated Morris Performing Arts Center, which provides for the Broadway Theater League, the South Bend Symphony Orchestra with the Chamber and Pops Orchestras, and the Southold Dance Theater and Patchwork Dance Company; the award - winning South Bend Civic Theater; the Studebaker National Museum; the South Bend Museum of Art; the Snite Museum of Art at Notre Dame; the Northern Indiana Center for History; Copshaholm /The Oliver Mansion; Century Center; Potawatomi Zoo; the Morris Conservatory /Muessel- Ellison Tropical Gardens; Healthworks! Kids Museum; the Farmers' Market; and the Belleville Softball Complex. The Coveleski Regional Baseball Stadium (named after South Bend native and Hall of Fame pitcher Stanley Coveleski) is a 5,000 -seat facility which opened in 1987 and is rated among the best in minor league baseball. The stadium is home to the South Bend Silver Hawks, a minor league team affiliated with the Arizona Diamondbacks. During 2011, the Silver Hawks were sold to Chicago businessman, Andrew Berlin, who has forged a strong partnership with the City and plans to keep the team in South Bend for many years to come. Attendance at the stadium has increased significantly in recent years. 6 Additional miscellaneous information about the City of South Bend can be found in the statistical section of this report. Financial, Budgetary and Property Tax Controls The City's management team is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the government are protected from loss, theft or misuse and to ensure that adequate accounting data is compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. Single Audit. As a recipient of federal and state financial assistance, the City also is responsible for ensuring that an adequate internal control structure is in place to ensure compliance with applicable laws and regulations related to those programs. This internal control structure is subject to periodic evaluation by management of the City. As part of the City's single audit described earlier, tests are performed to determine the adequacy of the internal control structure, including that portion related to federal financial assistance programs, as well as to determine that the City has complied with applicable laws and regulations. The results of the City's single audit for the year ended December 31, 2012 are included in a separate report. Budgetary Controls. In accordance with Indiana statutes, the City maintains budgetary controls integrated within the accounting system. The objective of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget (prepared on a cash basis) which is adopted by the City Common Council or Redevelopment Commission (depending on the fund) and then reviewed and approved by the State of Indiana Department of Local Government and Finance (DLGF). Activities of the general fund, special revenue funds, capital project funds, enterprise funds, internal service funds, pension trust funds and debt service funds are included in the annual budget. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established by major budget classification within funds. The Mayor and Common Council may transfer appropriations from one major budget classification to another within a department by ordinance as long as the total appropriations for that fund are not exceeded. Additional appropriations in excess of the original budget must be approved by the Mayor and Common Council and are also submitted to the DLGF for either approval or acknowledgement (depending on the fund). Additional appropriations for funds approved by the Redevelopment Commission do not require DLGF approval. Beginning in budget year 2009, the City must also submit its annual budget to the St. Joseph County Common Council for a non - binding review and recommendation. The deadline for adoption of the annual budget is November 1. The city's fiscal year begins on January 1. The City maintains an encumbrance accounting system as one technique of accomplishing budgetary control. Encumbered amounts do not lapse at year end and are carried over to the following year as a part of the subsequent year's budget. 7 Property Tax Controls. In addition to budgetary and other controls established by Indiana statute, the City must operate within specific and rigid controls governing the amount of property tax it may levy. The property tax control program, which began in 1973, limits the amount of property tax that may be levied by each unit of government in its legally budgeted funds. The total amount of property tax levied by the unit may increase by the six year average annual growth in Indiana personal non -farm income, as calculated by the U.S. Bureau of Economic Analysis, with a 6% maximum. During March 2008, the State of Indiana General Assembly enacted property tax reform legislation which made significant changes in the property tax system by capping the amount of property taxes at 1% of grossed assessed value for residential homesteads, 2% for agricultural /rental properties and 3% for all other real and personal property. This legislation was phased in over a two year period beginning in 2009. The loss of revenue to the City due to this legislation was significant but has been overcome by cost savings and the adoption of local option income taxes to in order to continue providing essential City services, including police and fire protection. A historical view of the City's tax rate and its net assessed valuation has been included in the statistical section of this document. Citywide Goals and Obiectives for 2013 and Beyond The City has developed eight broad goals that focus on the following areas: economy, safety, quality of life, trust, responsiveness, infrastructure, finance and workforce. The City has identified various objectives that are tied directly to these goals which, if achieved, will result in the attainment of these goals. The eight goals are listed below. GOAL ONE: The Community's Economy Improve South Bend's economy to ensure a vigorous local business climate; ample employment, business and investment opportunities for all our customers; and a tax base that is sufficient to meet the needs of the City, its residents and other customers. GOAL TWO: The Community's Public Safety and Civility Improve South Bend's public safety and civility to ensure that every resident and other customers can live, work, play, run a business and raise a family in a humane, pleasant and safe environment; have adequate, affordable and timely access to all forms of emergency services; and can contribute and participate in a community where people of different backgrounds live in mutual respect and harmony. GOAL THREE: The Community's Quality of Life 8 Improve South Bend's quality of life to ensure that every resident and every family can earn an adequate income; secure adequate housing; live in a safe, pleasant and humane neighborhood; enjoy a wide range of social, cultural and recreational opportunities; and have access to quality educational and medical services within an excellent natural and manmade environment. GOAL FOUR: Trust in City Government Improve residents' trust in City government to ensure that South Bend has a broad base of consensus and support on which to build the future, a strong foundation for collaborative action and community partnerships; and an increase in resident and customer participation in the daily public life of the community. GOAL FIVE: The City's Responsiveness, Efficiency, and Effectiveness Improve the responsiveness, efficiency, and effectiveness of City government to ensure that the City's customers get the value they expect and deserve. GOAL SIX: The City's Infrastructure Improve the City's infrastructure to ensure that South Bend can support physical growth and economic development; and offer an excellent quality of life to all of its residents and other customers. GOAL SEVEN: The City's Financial Condition Improve the financial condition of City government to ensure that South Bend has the financial resources necessary to achieve all of its goals during the next five years. GOAL EIGHT: The City's Workforce Improve the City government's existing workforce, work environment and human development systems to ensure that South Bend has the human resources necessary to achieve all its goals during the next five years. City Mission Statement and Department Purpose Statements The City provides services to its customers through thirteen administrative departments. These departments have unique purposes that are intended to support the citywide mission statement which is "to be recognized as a model city." Each department has developed a purpose statement which identifies their specific role. Mayor's Office: Leading the community to become a model city through formulating policy, directing operations and responding to customer concerns. 9 Common Council: Making 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. City Clerk's Office: Preserving all City Ordinances and Council meeting minutes for generations yet to be, and providing fair and consistent treatment of our Ordinance Violations Bureau customers. Administration and Finance: Providing financial and organizational stability for the City through sound financial and human resources management while ensuring the existence of a safe work environment, quality employee benefits and equal treatment for all City employees. Legal Department: Providing superior, professional and ethical legal services for our client, the City of South Bend. Police Department: Protecting the life, property and personal liberties of all individuals; improving the overall quality of life by deterring criminal activity and respecting cultural diversity; delivering fair and impartial law enforcement services to all residents. Fire Department: Providing the highest level of fire protection and emergency medical services possible to all of our customers, saving lives and property, and striving to become a model Fire Department for other cities in an efficient and cost - effective manner. Code Enforcement: Maintaining and improving the physical quality of life in our neighborhoods. Parks and Recreation: Offering all residents and guests of South Bend the highest quality of recreational and leisure activities, while providing well- managed parks and recreational facilities with updated programming and friendly productive service. Community Investment (Econ Dev): Creating and expanding opportunities through partnerships in neighborhood revitalization, commercial and industrial development and community enhancement. Public Works: Providing leadership in the development and delivery of engineering, fleet, 10 transportation, sanitation, wastewater, water and other services as called upon by our customers. Building Department: Serving our customers by inspecting, informing and ensuring a safe place to work, play and live. Century Center: Providing a state -of -the -art convention facility with excellent services to customers while generating maximum economic benefit to our community. Building South Bend in 2013 and beyond The City Administration's theme for the past several years has been "We're Building South Bend." That theme has had a major influence on the development of the 2013 budget. There are five areas of concentration that became or remained budget priorities for 2013. We're Building Neighborhoods - The City continues with its strong commitment to neighborhoods. The City will make a significant investment to fund or leverage state and federal funding for housing assistance, development and home ownership programs, neighborhood public works and parks, neighborhood development for social services and organizations, and public safety initiatives. Committing these resources will help us maintain, improve and support strong neighborhood development. We're Building a Safe City - Public safety is the foundation of all the City's efforts to build South Bend. Through the targeted and creative use of available resources, the City is working to provide quality police, fire and ambulance services for the community. The crime rate has decreased in several significant categories over the past year. The City's Fire Departments is rated one of the best in the State. A key initiative will focus on community policing, youth violence, and placing more emphasis on training and recruitment for the Police and Fire Departments. We're Building an Attractive City - We are working to enhance the natural and man -made beauty of our city through effective City programs. The City has taken steps through its Department of Code Enforcement and a Mayoral Task force to address the issue of vacant and abandoned properties. The City is funding major programs to renovate the former Studebaker Corridor area and other parts of the City. The City has been recognized as a Bicycle Friendly Community by the League of American Bicyclists and has established over 60 miles of bicycle routes to date. • We're Building Opportunity - A key issue for any city is education and opportunity for young people. The City is committed to keeping schools open in our neighborhoods and to maximizing their use by the community. We are building partnerships with the South Bend School Corporation and other key stakeholders that will create new strategies for enhancing 11 our formal educational systems. Working together with families, student groups, school officials, neighborhoods, the faith community and civic organizations, we can support our local schools and improve the level of individual student performance. We're Building a Strong Economy - Local government plays a key role in economic development. By providing adequate infrastructure and offering targeted assistance, the City can stimulate private investment, creating business opportunities and jobs. The City's policies encourage new start-up businesses, strengthen existing business, attract new jobs, increase assessed value and emphasize direct investment in hard -to- develop areas. Efforts have been and will continue to focus on implementing the comprehensive plans for the areas around the East Bank and Coveleski Stadium, including a new Veteran's Clinic across from the stadium. The City has had many recent economic development projects including Eddy Street Commons, a $220 million dollar mixed -use development south of Notre Dame, with more than 20 stores and restaurants, office space and hundreds of town homes, apartments and condominiums. In addition, the City has created Indiana's first dual -site, state - certified technology park site known as Innovation Park and Ignition Park. Mayoral Leadership Transition Mayor Stephen J. Luecke retired effective December 31, 2011. As South Bend's longest serving chief executive (1997- 2011), Mayor Luecke had many significant accomplishments during his tenure including the City's receipt of the All- America City Award from the National Civic League in 2011. Mayor Pete Buttigieg, a Harvard University graduate and Rhodes scholar, assumed office on January 1, 2012 bringing with him a group of leaders with new ideas and energy to implement transformational reform to city government. Elected at age 29, Mayor Buttigieg is the youngest chief executive of a municipality exceeding 100,000 residents in the United States. During 2012, Mayor Buttigieg launched six new initiatives to improve city government: New Economic Partnerships — to lay out a new economic vision for our community as well as to agree on a smarter division of labor among various groups involved in economic development. An Economic Summit was held in June 2012 to promote this initiative. In addition, the Department of Community and Economic Development was reorganized under the leadership of new Director Scott Ford and renamed the Department of Community Investment. 2. High Ethical Standards — on his first day in office the Mayor issued an executive order introducing a new ethics code for City employees. 3. Customer Service Mentality — design ways that City employees can track and resolve citizens' issues efficiently by using more advanced technology. This effort led to the creation of a "311 call center" for non - emergency municipal telephone calls during 2012. 4. Strong Partnerships with Schools — the Mayor has improved dialogue with the South 12 Bend School Corporation and other stakeholders to ensure a strong educational system in the City. The Mayor has begun programs to double the number of public school mentors and curb youth and gun violence. 5. Transparency and Accessibility – choosing not to serve from behind his desk, Mayor Buttigieg has conducted a series of monthly "Mayor's Night Out" and "Mayor's Night In" events around town to allow citizens to speak to him and his department heads directly about concerns and ideas. Also, efforts to implement a first -class performance management system have been initiated and departmental performance measures are being monitored on a monthly basis. The City website has been re- designed and additional financial and operational reports are being made available online. 6. Vacant and Abandoned Buildings – as with many large cities, the City of South Bend has an issue with vacant and abandoned buildings. The city has taken on this issue with the appointment of a blue- ribbon task force that developed new strategies and initiated an aggressive three -year program -1,000 buildings in 1,000 days —to reduce the number of vacant and abandoned buildings. Funding for demolition and remediation has increased significantly and is over $1.0 million dollars in the 2013 budget. Administration Vision The administration of Mayor Buttigieg has a single, overarching visiona safe, inclusive and well- connected South Bend. In support of this vision, the Mayor has established three main pillars of administration policy: 1. Basics are easy – it is essential to provide City residents basic services so seamlessly that they take them for granted and are able to focus on their own families and daily challenges. 2. Good government – make government more accessible and accountable to those it serves by adopting a people- focused approach, trading partisanship for partnership and using technology to better serve all residents. 3. Create Jobs – focus on economic growth and make much needed investments in the future. Awards The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of South Bend for its comprehensive annual financial report for the fiscal year ended December 31, 2011. This was the 22nd consecutive year that the City has achieved this prestigious award. In order to be awarded a Certificate of Achievement for Excellence in Financial Reporting, a government unit must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. 13 A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate. Acknowledtments The preparation of the comprehensive annual financial report (CAFR) was made possible by the dedicated service of the City's departmental fiscal officers and the staff of the Department of Administration and Finance. Each fiscal officer and member of the Administration and Finance Department has my sincere appreciation for the contributions made in the preparation of this report. I would especially like to acknowledge the efforts of the core CAFR preparation team of Deputy Controller John Murphy, Rahman Johnson, Cecil Eastman and Intern Amy O'Connor. In addition, I would like to thank the Field Examiners of the Indiana State Board of Accounts (led by Doug Wiese, Bruce Snyder and Alex Flores) for their hard work and dedication in this effort. In closing, without the leadership and support of Mayor Pete Buttigieg, City Department Heads, and members of the City of South Bend Common Council, preparation of this report would not have been possible. Sincerely, Mark W. Neal, City Controller City of South Bend 14 Certificate of Achievement for Excellence in Financial Reporting Presented to City of South Bend Indiana For its Comprehensive Annual Financial Report for the Fiscal Year Ended December 31, 2011 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. k nOFTW } `�Rfis'EIFEWktEy� c � )ON President Executive Director 15 City of South Bend, Indiana Organizational Chart Citizens of South Bend City Council Mayor City Clark Board of Public I I Board of Parks 6 I I Board of Public Safety Recroetlon Works Center Entertainment lanagera I Board I Police Department I I (Chief) I I— ——•— — —1 I Fire Department I j (Chief) j r— — — - --1 IPerks & RecreallonI j (Superintendent) I I—— ——' — —I I Public Works I 1 (Director) j I— ——— —. —I I Century Center I IlGlorrleFtir%�ming j Arts Center (Director) I I (Director) L:— — ——. I I,— — —— — � Economic — Development (Director) • Toohnle.l Somico Division • Invest Ipil.. Division • unit*,. Patrol • Community Relations Division -Firs Prevenron • Park Administration Division • Adminls4etive Sarvbe. Division • Park M.Inbnance Division • Ftreflghdng Operalims Division • Recreation Division . Ems Division • Pols"10ml Zoo Division • Doll Division - Enine.ring Division • Waal. Division • W.Ier Works Division • Sovmgs Division • Centrd service. Dlvislon • Economic Devsl pmsnl • Community Development • 0.-1 Adminl.lrallon • Une.f. Building -solid We.ls Divislon Legal Department (City Attorney) Code Enforcement (Director) Energy Office (Director) - Hawing 0111- • Walghbmhood Code Enlureomsrrl • Abandoned V.Nolee • Une.f. Building - Animal Control • Bureau of Weights and Meuuro ff'J Bullding Department Finance (City Con - City Finance 6 O.dgeung • Human R—ross - Sartori. Msnap.m.nl • Information Toohnology - slaty & Risk Management • Human Right. • Purche.ing Authority/ Commission U TI U PEACE �fe r a 1865 II Financial Section 17 STATE OF INDIANA AN EQUAL OPPORTUNITY EMPLOYER INDEPENDENT AUDITOR'S REPORT STATE BOARD OF ACCOUNTS 302 WEST WASHINGTON STREET ROOM E418 INDIANAPOLIS, INDIANA 46204 -2769 Telephone_ (317) 232 -2513 Pax: (317) 232 -4711 Web Site: www.in.gov /sboa" TO: THE OFFICIALS OF THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA Report on the Financiai Statements We have audited the accompanying financial statements of the governmental activities, the business - type activities, each major fund and the aggregate remaining fund information of the City of South Bend (City), as of and for the year ended December 31, 2012, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the Table of Contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards'applicable to financial audits contained in Government Auditing Standards, issued by the Comptroiler General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circurnstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. 18 INDEPENDENT AUDITOR'S REPORT (Continued) Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business -type activities, each major fund and the aggregate remaining fund information of the City as of December 31, 2012, and the respective changes in financial position. and cash flows, where applicable, thereof for the year then ended, in accordance with accounting principles generally accepted in the United States of America. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis, Schedules of Funding Progress, Schedules of Contributions From the Employer and Other Contributing Entities, and Budgetary Comparison Schedules (general and major special revenue funds) as listed in the Table of Contents be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context_ We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City basic financial statements. The introductory section, combining fund financial statements, other budgetary comparison schedules, and statistical schedules, are presented for purposes of additional analysis and are not a required part of the basic financial statements. The combining fund financial statements and other budgetary comparison schedules are the respon- sibility of management and were derived from and relates directly. to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected -to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial. statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual nonmajor fund financial statements and other budgetary comparison schedules are fairly stated, in all material respects, in relation to the basic financial statements as a whole. Included in the financial statements are the revenues and expenses from emergency telephone system fees (IC 36 -8 -16) and enhanced wireless emergency telephone fees (IC 36 -8- 16.5). In accordance with Indiana Code 36- 8 -16 -14 and Indiana Code 36 -8- 16.5 -41 these fees have been subject to an annual audit performed by the State Board of Accounts and, in our opinion, are fairly stated, in all material respects, in relation to the financial statements taken as a whole. 19 INDEPENDENT AUDITOR'S REPORT (Continued) The introductory section and statistical schedules have not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or pro- vide any assurance on that information. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated June 10, 2013, on our consideration of the City's internal control over financial reporting and on our tests of its. compli- ance with certain provisions of laws; regulations, contracts, grant agreements, and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering City's internal control overfinancial reporting and compliance. June 10, 2013 , 20 Bruce Hartman State Examiner Management Discussion & Analysis The Management of the City of South Bend, Indiana ( "City ") provides herewith this Management Discussion & Analysis ( "MD&K) of the finaricial activities and condition of the City of South Bend, Indiana for the fiscal year ended December 31, 2012. Readers of the information contained within this Management Discussion & Analysis, and any opinion derived therein, should be considered as a part of the greater whole of the financial statements, notes to the financial statements, supplemental information and letter of transmittal, as contained within this Comprehensive Annual Financial Report ( "CAFR "). The City of South Bend is the county seat of St. Joseph County, Indiana, and is the fourth largest city in the State of Indiana. St. Joseph County is located within the heartland of the manufacturing and metropolitan regions of the Upper Midwest. The City of South Bend is located in the north central region of the State of Indiana, five (5) miles south of the Indi2n2-1 Michigan State boundary line. The City is approximately ninety (90) miles east of the city of Chicago and. one hundred forty (140) miles north of the city of Indianapolis, The 2010 U.S. Bureau of the Census population for the City of South Bend was reported as 101,168 and the 2010 Census population for St. Joseph County was reported as 266,931, Accordingly, South Bend is classified as a "City of Second Class" under State of Indiana statutes, defined as cities with a population between 35,000 and 250,000 residents. South Bend and St. Joseph County is a vibrant and diverse area with a strong local economy based on a mix of agricultural, manufacturing and service, higher education and other commercial and tourism based industries. The diverse economic mix creates varied employment opportunities for residents while providing insulation via diversification from economic downturns. The City of South Bend provides a full range of general governmental services to citizens. Services include general government, public safety, street construction and maintenance, infrastructure construction and maintenance, parks & recreation services, arts & culture, and sanitation services. In addition, the City provides Water Utility and Wastewater Utility services to commercial and residential properties within the city. City operations also include the Century Center convention venue, Morris Performing Arts Center, Pa[ais Royale Ballroom,_ Studebaker Museum, South Bend Redevelopment Authority and Public Parking Garages within the city footprint. The City of South Bend governmental structure includes elected officials as follows with defined management and legislative authority in compliance with Indiana Statute. Mayor Chief Executive Officer 4 year term Common Council 9 member legislative body 4 year term 6 from defined districts within the City 3 at large members City Clerk _ Secretary of the Common Council 4 year term All elected official current terms of office.expire on December 31, 2015. The City of South Bend was incorporated in 1865, compliant to Indiana Statute, and remains as such through the period covered by this Management Discussion & Analysis report. 21 Financial Hi hlg ights Assets /deferred outflows Liabilities /deferred inflows Net position Capital net of debt Restricted Unrestricted Total net position Change vs_ prior year Expenses Revenues Management Discussion & Analysis Governmental Activities 2012 2011 514,511,174 512,479,366 221, 879, 951 224, 587, 699 Business type Activities 2012 2011 311,488,235 273,573,954 142,076,868 111,439,332 Government wide Activities 2012 2011, 825,999,409 786,053,320 363,956,819 336,027,031 210,282,574 196,265,413 113,193,929 103,463,004 323,476,503 299,728,417 8,050,418 9,354,772 29,259,933 12,937,988 37,310,351 22,292,760 74,298,231 82,271,482 26,957,505 45,733,630 101,255,736 128,005,112 292,631,223 287,891,667 169,411,367 162,134,622 462,042,590 450,026,289 4,739,556 911,786 7,276,745 9,710,075 12;016,301 10,621,863 146,481,687 154,902,096 48,559,092 46,323,473 195,040,779 201,225,569 147,341,522 152,772,708 59,715,558 59,074,724 207,057,080 211,847,432 • Government wide net position was $462,042,590 as of December 31, 2012. • Government wide net position increased by $12,016,301 or 2.7% during fiscal 2012_ Governmental activity net position increased by $4,739,556 or 1.6% and business -type activity net position increased by $7,276,745 or 4.5% during fiscal 2012. • Total assets and deferred outflows of resources as of December 31, 2012 of $825,999,409 increased by $39,946,089 or 5.1% as compared to total assets and deferred outflows of resources as of December 31, 2011. • Total liabilities and deferred inflows of resources as of December 31, 2012 were $363,956,819, increased by $27,929,788 or 8.3% as compared to total liabilities and deferred inflows of resources as of December 31, 2011. • As of December 31, 2012, government wide net position of $323,476,503 was invested in capital assets net of debt and are, therefore, not available for spending. Net position of $101,255,736 was classified as unrestricted and may be used to meet ongoing obligations to creditors. A total of $37,310,351 was classified as restricted for debt service and capital outlay. • Government wide revenue achieved in fiscal 2012 amounted to $207,057,080, a decrease of ($4,790,352) or (2.3 %) versus government wide revenues achieved in fiscal 2011. Governmental activity revenue decreased by ($5,431,186) or (3.6 %), whereas business -type activity revenue increased by $640,834 or 1.1 %. • Government wide expenses in 2012 amounted to $195,040,779, a decrease of ($6,184,790) or (3.1 %) as compared to expenses of $201,225,569 in 2011. Government activity expenses decreased by ($8,420,409) or (5.4 %), while business -type activity expenses increased by $2,235,619 or 4.8 %, when compared to fiscal 2011. • Explanatory commentary concerning the changes in assets, liabilities, revenue and expenditures can be found in later sections of this MD&A. 22 Management Discussion & Analysis Overview of the Financial Statements The City of South Bend's financial statements are comprised of three components: 1) government wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also includes other supplementary information in addition to the basic financial statements themselves. Government wide financial statements The government wide financial statements are designed to provide readers with a broad overview of the City of South Bend's finances using "accrual based accounting," a method of accounting used by private- sector businesses. • Statement of net position This statement reports all assets, deferred outflows of resources, liabilities, and deferred inflows of resources of the City of South Bend as of December 31, 2012.. The difference between total assets and deferred outflows of resources less total liabilities and deferred inflows of resources is reported as "net position," and can generally be thought of as the net worth of the City. ' Increases in net position generally indicate an improvement in financial position while decreases in net position may indicate a deterioration of financial position. • Statement of activities This statement serves the purpose of the traditional income statement. It provides consolidated reporting of the results of all activities of the City of South Bend for the year ended December 31, 2012. Changes in net position are recorded in the period in which the underlying event takes .place, which may differ from the period in which cash is received or disbursed. The statement of activities displays the expense of the City's various programs net of the related revenues, as well as a separate presentation of revenue available for general purposes including property and county option income taxes, fees for services and other revenue sources. The government wide financial statements distinguish between functions of the City that are principally supported by taxes and intergovernmental revenue (governmental activities) and other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business type activities). The major governmental activities of the City of South Bend include general government, public safety, street construction and maintenance, infrastructure construction and maintenance, parks & recreation services, and arts & culture. The major business -type activities of the City include the water utility, wastewater utility, solid waste sanitation services, Century Center convention center, and Blackthorn golf course operations. Fund Financial Statements A fund is a group of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance - related legal requirements. All of the funds of the City of South Bend can be divided into three categories: governmental funds, proprietary funds and fiduciary funds. Governmental Funds Governmental funds are used to account for the same functions reported as governmental activities in the government wide financial statements. However, unlike government wide financial statements, governmental fund financial statements focus on short-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the 23 Management Discussion & Analysis fiscal year. Such information may be useful in evaluating a government's short-term financing requirements. Governmental funds use the modified accrual accounting method. The City maintains six (6) major governmental funds (General, Parks and Recreation, Public Safety Local Option Income Tax, County Option Income Tax, Economic Development Income Tax, and Airport TIF) and sixty -four (64) non -major governmental funds. Proprietary funds The City of South Bend maintains two types of proprietary funds: enterprise and internal service. Enterprise funds are used to report the same functions presented as business -type activities in the government -wide financial statements. The City maintains seven (7) enterprise funds. Information is presented separately in the proprietary statement of net position and the proprietary statement of revenues, expense and changes in fund net position for the Water Utility, Wastewater Utility and Century Center convention center, which are considered major enterprise funds. Data from. the other four (4) non -major enterprise funds (Consolidated St. Joseph County /South Bend Building Department, Parking Garage, Solid Waste and Blackthorn Golf Course) are combined into a single, aggregated presentation. Individual fund data for each of these non -major enterprise funds is provided in the form of combining statements elsewhere in this report. Internal service funds are used to accumulate and allocate costs internally among the City's various functions and funds. The City maintains five (5) internal service funds. The City of South Bend uses internal service funds to account for its self - funded liability insurance program, self- funded employee health benefits program, unemployment compensation claims, police take -home vehicle program and central services unit (a department that accounts for expenses related to fuel, vehicle repairs, printing and other services provided to City departments on a cost - reimbursement basis). Because these services predominantly benefit governmental rather than business type functions, they have been included within governmental activities in the government wide financial statements but are combined into a single, aggregated presentation in the proprietary fund financial statements. Individual fund data for the internal service funds is provided in the form of combining statements elsewhere in the report. Fiduciary funds Fiduciary funds are used to account for resources held for the benefit of parties outside the City government. Fiduciary funds are not reflected in the government wide financial statement because the resources pf those funds are not available .to support City programs. The City maintains five (5) fiduciary funds, which consist of two (2) pension trust funds (1925- Police Pension and 1937 Firefighter's Pension), two (2) agency funds (Payroll and Morris /Palais Royale Box Office), and one (1) private - purpose trust fund (Cemetery). Pension Trust Fund Operations City employees are covered by the Public Employees Retirement Fund ('PERF ") and the 1977 Police Officers' and Firefighters' Pension Fund, both of which are administered by the State of Indiana. However, certain police officers and firefighters hired before May 1, 1977, (who did not opt into the 1977 fund) continue to be members of the 1925 Police Officer's Pension Fund or the 1937 Firefighters' Pension Fund. These two funds are administered by the City. The number of police officers and firefighters in the City- managed pension trust funds will continue to decline in the future as current participants pass away. Effective in fiscal 2009, with the passage of State legislation, funding responsibility for the 1925 and 1937 Police and Firefighter's Pension Funds was assumed by the State of Indiana_ These funds no longer receive property tax revenue distributions beyond fiscal 2009. The transfer of pension responsibility to the State of Indiana is on a reimbursement basis and will not provide 24 Management Discussion & Analysis additional revenue to the City for use in other property tax funded areas. The administration of the pension plans remains the responsibility of the City. Notes to the financial statements The notes to the financial statements provide additional information that is essential in order to have a full understanding of the data provided in the government wide and fund financial statements. Other information In addition to the basic financial statements and accompanying note & disclosures, this CAFR report presents supplementary information. The combining statements referred to earlier in connection with non -major governmental, enterprise, internal service and fiduciary funds are presented immediately after the basic financial statements within the financial statement section of the CAFR report. Government wide financial statements The following financial analysis will focus on the statement of net position and statement of changes in net position of the City's governmental and business type activities. Statement of Net Position Governmental Business type Governmentwide Activities Activities Activities 2012 2011 2012 2011 2012 2011 Assets Current & other 212,400,950 216,082,758 88,996,021 59,847,710 301,396,971 275,930,468 Capital assets (net) 302,110,224 294,745,198 220,781,545 209,668,966 522,891,769 504,414,164 Total Assets 514,511,174 510,827,956 309,777,566 269,516,676 824,288,740 780,344,632 Deferred Outflows - 1,651,410 1,710,669 4,057,278 1,710,669 5,708,688 Liabilities 74,298,231 82,271,482 26,957,505 45,733,630 101,255,736 128,005,112 Current 33,851,096 29,049,232 14,244,876 11,716,546 48,095:972 40,765,778 Longterm 187,369,257 195,538,467 127,793,032 99,707,895 315,162,289 295,246,362 Total Liabilities 221,220,353 224,587,699 142,037,908 111,424,441 363,258,261 336,012,140 Deferred Inflows 659,598 - 38,960 .14,891 698,558 14,891 Net position Capital net of debt 210,282,574 196,265,413 113,193,929 103,463,004 323,476,503 299,728,417 Restricted 8,050,418 9,354,772 29,259,933 12,937,988 37,310,351 22,292,760 Unrestricted 74,298,231 82,271,482 26,957,505 45,733,630 101,255,736 128,005,112 Total net position 292,631,223 287,891,667 _ 169,411,367 162,134,622 462,042,590 450,026,289 25 Management Discussion. & Analysis As of December 31, 2012, total assets and, deferred outflows exceeded liabilities and deferred inflows by $462,042,590, an increase of $12,016,301, or 2.7 %, from the net position level as of December 31, 2011. . Governmental activities net position of $292,631,223 increased by $4,739,556 over December 31, 2011, an increase of 1.6 %. Business -type net position of $169,411,367 increased by $7,276,745 over December 31, 2011, an increase of 4.5 %. Improvement in the net position of the City should be viewed as a favorable development indicative of the conservative and responsible fiscal management policy maintained and followed by City Management, especially in light of the revenue constraints due to state enacted property tax reform in 2009 and soft economic conditions in recent years. The increase in business type net position was due primarily to a 9% increase in sewer rates which will be used to support long- term capital projects of the Wastewater utility. The increase in governmental activity net position was due primarily to additional local option income taxes distributions during 2012 from the State of Indiana and economic development in tax increment financing areas resulting in higher property tax receipts in those funds Total assets and deferred outflows increased $39,946,089 or 5,1% as compared to amounts as of December 31, 2011. The increase is largely attributed to an increase in capital assets net of depreciation and improvement in operating results in the water and wastewater utilities. The increase in capital assets (net of accumulated depreciation) of $20,188,274 is the result of several major capital construction projects capitalized or in process during the period. Major projects include Ignition Park development, Memorial. Skyway facade improvements, several street and intersection road improvement projects, several sewer rehabilitation projects, and water and wastewater utility equipment projects. Total liabilities and deferred inflows increased by $27,929,788 or 8.3% as compared to amounts as of December 31, 2011. The increase is largely attributed to additional sewer bonding and an increase in net pension obligations. Government wide net position of $323,476,503 is invested in capital assets net of debt and is, therefore, not available for spending. A total of $101,255,736 is classified as unrestricted net position and may be used to meet ongoing obligations to creditors. Net position in the amount of $37,310,351 is classified as restricted for debt service and capital outlay. Statement of Chan es in Net Position Governmental Activities 2012 2011 Business type Activities 2012 2011 Government wide Activities 2012 2011. Revenue Program Revenue " Charge for services 12,967,034 10,853,623 57,419,733 54,576,584 70,386,767 65,430,207 Operating grants 24,937,596 32,091,246 - - 24,937,596 32,091,246 Capital grants 2,468,120 2,328,468 2,010,253 4,291,731 4,478,373 6,620,199 General Revenue Taxes Property tax 71,775,415 76,445,349 - 71,775,415 76,445,349 Other tax 23,360,791 22,555,864 - 23,360,791 22,555,864 Unrestricted grants 3,891,810 3,964,336 - - 3,891,810 3,964,336 investment earnings 1,317,443 1,050,768 285,572 206,409 1,603,015 1,257,177 Other revenue 5,623,313 3,483,054 - - 6,623,313 3,483,054 Total Revenue 147,341,522 152,772,708 59,715,558 59,074,724 207,057,080 211,847,432 26 Management Discussion & Analysis Governmental Activities 2012 2011 Business type Activities 2012 2011 Government wide Activities 2012 2011 General government 13,788,310 16,783,351 - 13,788,310 16,783,351 Public safety 69,977,237 73,530,442 - - 69,977,237 73,530,442 Highways & streets 14,639,158 7,574,003 14,639,158 7,574,003 Culture & recreation 21,724,589 15,566,794 - 21,724,589 15,566,794 Economic development 20,217,987 34,648,975 - 20,217,987 34,648,975 Interest on long term debt 6,134,406 6,798,531 - - 6,134,406 6,798,531 Water utility - - 12,228,014 11,972,840 12,228,014 11,972,840 Wastewater utility - 23,809,975 22,260,005 23,809,975 22,260,005. Civic center 2,929,268 3,100,484 2,929,268 3,100,484 Building department - - 909,376 871,299 909,376 871,299 . Parking - 1,721,655 1,467,646 1,721,655 1,467,646 Solid waste - - 5,118,806 4,962,157 5,118,806 4,962,157 Golf course - - - 1,841,998 1,689,042 1,841,998 1,689,042 Total Expense 146,481,687 154,942,496 48,559,092 46,323,473 195,040,779 201,225,569 Change in net position Before transfers /special 859,835 (2,129,388) 11,156,466 12,751,251 12,016,301 10,621,863 Transfers 3,879,721 3,041,176 (3;879,721) (3,041,176) - - Change in net position 4,739,556 911,788 7,276,745 9,710,075 12,016,301 10,621,863 Beginning net position 287,891,667 286,979,879 162,134,622 152,424,547 450,026,289 439.404.426 (restated) Ending net position 292,631,223 287,891,667 169,4111,367 162,134,622 462,042,590 450.026,289 Governmental Activities Net position for governmental activities increased by $4,739,566 during fiscal 2012. Revenue of $147,341,522 decreased by ($5,431,186), or (3.6 %). Expenses were $146,481,687 during 2012, a decrease of ($8,420,409), or (5:4 %) as compared to fiscal 2011. The revenue decrease was due to lower revenue from operating grants for community development and housing along with reduced property taxes due to circuit breaker property tax reform and the elimination of a tax increment financing district in the southern part of the City. The decrease in expenses was due primarily to less spending in the areas of general government, public safety, and economic development. With the phase out of ARRA and other funding sources, less grant money was available for public safety, energy conservation, economic development and housing programs. Interest on long term debt of $6,134,406 decreased by ($664,125) from 2011, consistent with existing repayment obligations as a greater percentage of debt service payments are being applied to principal on existing debt obligations, Transfers in the amount of $3,879,721 for 2012 represent payment in lieu of taxes (PILOT) paid by the wastewater and water utilities to the General Fund, Parks & Recreation Fund and other funds that receive property taxes. The transfer amount was increased by $838,545 from 2011. 27 Management Discussion & Analysis Business -Type Activities Net position from business -type activities increased by $7,276,745 during fiscal 2012. During 2012, revenue of $59,715,558 increased by $640,834 or 1.1% over fiscal 2011. During 2012, expenses of $48,559,092 increased by $2,235,619 or 4.8 %% when compared to fiscal 2011. Revenue increased primarily as the result of a 9% increase in sewer rates for 2012 designed to provide funding to cover long -term wastewater and sewer capital improvements. This revenue increase was offset in part by the reduction in capital grant funding available which decreased by ($2,281,478) as the result of lower Indiana State Revolving Fund and other grant funding. As a result of higher cash reserves, interest on investments increased. Expenses during 2012 were consistent with 2011 with slight increases in the wastewater utility to cover spending on capital projects and in solid waste to cover higher landfill costs. Expenses for the water utility, building department and Blackthorn golf course were also higher in 2012 than in fiscal 2011 as these departments experienced increasing revenue and adjusted their expenses accordingly. Expenses for Century Center (civic center) decreased during 2012 as costs were reduced in reaction to a continuing difficult sales market for convention centers. Financial Analysis of Government Funds The City of South Bend uses fund accounting to ensure and demonstrate compliance with finance - related legal requirements. Funds of the City are divided into three categories: governmental funds, proprietary funds and fiduciary funds. Condensed Balance Sheet, Statement of Revenue, Expenditures, and Changes in Fund Balance As of December 31, 2012 General Park & Rec PS LOIT COIT EDIT T1F Airport Other Total Total assets 31,119,888 5,135,657 2,992,510 18,004,313 13,280,102 28,162,505 107,763,359 206,458,334 Total liabilities 2,324,805 421,899 220,508 2,908,075 1,547,640 10,952,616 18,375,543 Fund Balances? 65,631,784 11,550,193 6,1)65,100 Non- spendable 958,341 56,216 - 2,664,139 449,83'{ 9,695,081 25,992,243 39,815,851 Restricted - 4,657,542 2,992,510 - - 16,919,_784 53,756,731 78,326,567 Committed' - - - - - - 11,142,045 11,142,045 Assigned 165,389 - 15,119,666 9,922,196 - 10,138,790 35,346,041 Unassigned 27,671,353 - - - - - (4,219,066) 23,452,287 Total fund balance 28,795,083 4,713,758 2,992,510 17,783,805 10,372,027 26,614,865 96,810,743 188,082,791 Liability & fund balance 31,119,888 5,135,657 2,992,510 18,004,313 13,280,102 28,162,505 107,763,359 206,458,334- Revenues 65,631,784 11,550,193 6,1)65,100 8,267,654 8,517,523 11,885,064 35,461,766 147,379,084 Expenditures 74,038,026 11,794,638 - 6,770,551 3,480,762 15,926,862 50449,161 162,460,000 Net surplus (deficit) (8,406,242) (244,445) 6,065,100 1,497,103 5,036,761 (4,041,798) (14,987,395) (15,080,916) Other sources (uses) 9,270,109 430,849 (5,301,098) (1,642,136) (4,5D2,146) 217,357 11,285,900 9,758,835 Net change in fund 863,867 186,404 764,002 (145,033) 534,615 (3,824,441) (3,701,495) (5,322,981) balances - — Beginning fund 27,931,216 4,527,354 2,228,508 17,928,838 9,837,412 30,439,306 100,512,238 . 193,404,872 balances - restated Ending fund 28,795,063 4,713,758 2,992,510 17,763,805 10,372,027 26,614,865 96,810,743 188,082,791 balances 28 Management Discussion & Analysis As of December 31, 2012, the City governmental funds reported a combined ending fund balance of $.188,082,791. Non- spendable fund balance of $39,815,851 is sequestered for property held for resale, inventory, non - current loans receivable and advances to other funds and is, therefore, not available for new spending Restricted fund balance of $78,326,567 consists of monies. in debt service funds or other funds such as road funds that are limited by external parties as to their use_ Committed fund balance of $11,142,045 is designated by the South Bend Common Council to be used for certain purposes such as for environmental projects. Assigned fund balance of $35,346,041 includes balances in local option income tax funds that have not been committed to certain projects and are available for spending by the City. Unassigned fund balance of $23,452,287 consists of money primarily in the General Fund that has not been obligated in any manner by the City. The General Fund is the primary operating fund for City operations including general government, public safety, code enforcement, certain highways & streets expenses, certain culture & recreation expenses, and certain debt service obligations. As of December 31, 2012, the General Fund balance of $28,795,083 represents an increase of $863,867 or 3.1% from the balance as of December 31, 2011. The increase in General Fund balance was due primarily to departments spending less than the 2012 budget particularly in the Police Department, Fire Department, Legal Department and Administration and Finance. As of December 31, 2012, the General Fund had unassigned fund balance of $27,671,353 which is equal to 42.2% of 2012 General Fund Revenue. The General Fund unassigned fund balance has traditionally been used by the City to fund certain capital projects and emergency contingencies. In addition, the City will use the unassigned fund balance in 2013 as a cash flow bridge to the receipt of property tax revenues from the County collection authority which distributes property tax revenue two times per year (June and December)_ General Fund unassigned balance will provide sufficient cash to cover City operating obligations without incurring tax anticipation notes and resultant borrowing costs during fiscal 2013. As discussed in Governmental Accounting, Auditing, and Financial Reporting (GAAFR), a general fund unassigned fund balance should be either 1) no less than 5 to 15 percent of regular general fund operating revenues, or 2) no less than one to two months of regular general fund operating expenditures. An unassigned fund balance may be higher if varying circumstances require such as a delay in collection of a major revenue source. The Parks and Recreation Fund experienced an increase in fund balance of $186,404 during fiscal 2012. The increase in fund balance was due primarily to the receipt of payment -in -lieu of taxes, which began in 2011, from the wastewater and water utilities in the amount of $616,596. Parks Board and Parks Administration continued in 2012 with prudent management, of expenditures and commitments in light of current and future projected revenue streams. As of December 31, 2012, the restricted fund balance in the Parks and Recreation Fund was $4,657,542, or 40.3% of 2012 revenue. The Public Safety Local Option Income Tax Fund ( "Public Safety LOW) was created in October 2009, with the local legislative passage of an increase in local option income taxes of 0.95 %, a part of which (0.25°/x) tax increase was established to fund public safety expenditures. The City has established the Public Safety LOIT Fund as a major governmental fund, due solely to its purpose•of creating a funding source-to sustain public safety staffing levels, which were compromised by state implementation of property tax reform that has reduced property tax revenues, which historically are the source of public safety funding. Operating transfers are made 29 Management Discussion & Analysis quarterly from the Public Safety LOIT Fund to the General Fund to cover the personnel costs of police officers and firefighters. Receipts of Public Safety LOIT tax revenue commenced in January 2010. The revenue collected in fiscal 2012 of $6,065,100 increased by 3.7% compared to 2011. The increase in fund balance in the amount of $764,002 during is restricted and will be used in future fiscal periods to fund full staffing levels for police and fire personnel. The County Option Income Tax Fund ("COIT') and Economic Development Income Tax Fund ( "EDIT') funds are used to fund major capital and construction projects, economic development initiatives, certain subsidies and support to organizations and units that benefit city economic development and cultural venues, certain city -wide expenditures such as telephone costs, and certain debt service payments. The COIT fund decreased by ($145,033) during 2012, due to higher expenditures in the areas of public safety, economic development, and general government. The City has operationally; sequestered COIT funds for use in major capital and construction funding initiatives, certain subsidies and support to organizations and units that benefit city economic development and cultural venues, information technology costs, city-wide expenditures like telephone costs, and certain debt service payments. As of December 31, 2012, the COIT Fund balance of $17,783,805 included assigned fund balance of $15,119,666 and non - spendable fund balance of $2,664,139, primarily for property held for resale and advances to other funds. The EDIT fund increased by $534,615 during 2012 due to higher income tax receipts than originally estimated and conservative commitment of expenses to initiatives of the highest priority. The City has operationally sequestered EDIT funds for use in major economic development initiatives, certain subsidies and support to organizations and units that benefit city economic development and cultural venues, operational costs of the street department, and certain debt service payments. As of December 31, 2012, the EDIT Fund balance of .$10,372,027 included assigned fund balance of $9,922,196 and non - spendable fund balance of $449,831, consisting of property held for resale. The fund balance in the TIF Airport Fund decreased by ($3,824,441) during 2012 due to planned spending for capital projects including a new Animal Control facility, improvements at Ignition Park (industrial park), infrastructure for a new high tech company Data Realty, continued demolition of the historical Studebaker automobile factory buildings, the extension of Mayflower Road and other economic development initiatives. As of December 31, 2012 the TIF Airport Fund balance of $26,614,865 included $7,869,562 in property held for resale, $1,825,519 advances to other funds (primarily to the Blackthorn golf course) and $16,919,784 in restricted fund balance reserves_ The TIF Airport Fund continues to be is a major success for the City of South Bend and has generated in excess of $500 million dollars in private investment since its inception. During 2012, the fund balances in Other Governmental funds decreased by ($3,701,495). This decrease in fund balance was primarily the result of the reduction in the amount of property taxes collected and the planned spend down of $2,274,404 in monies in the Excess Welfare Distribution Fund for police and fire department radio equipment. These, fund balances provide available resources that the City requires to meet future capital construction needs, ongoing debt service obligations, and economic development project initiatives in concert with the City vision for economic development within the City footprint_ Individual fund data for each of the non -major governmental funds is provided in the form of the combining statements in the Supplemental Information section of the CAFR report. 30 Management Discussion & Analysis Governmental Fund Revenue The following schedule presents a summary of governmental fund revenue for the year ended December 31, 2012 with comparison to the prior year: Total Revenue 147,379,084 100.0% 152,877,172 100.0% Tax revenue continues to represent the most significant source of revenue required to support services provided by the City. Property tax revenue is the primary source of funding for governmental expenditures. Property tax revenue is based on a relationship between two variables. The first variable is the assessed property valuation of industrial, commercial and residential parcels for both real and personal properly. The second variable is the application of a tax rate to arrive at the total tax levy. Taxable property is assessed at 100% of the true tax value. The amount of property tax levied (billed to property owners) is further restricted by State of Indiana enacted property tax legislative reform, or so- called "circuit breaker" property tax caps in 2009 of 1.0% (homestead), 2.0% (other residential /rental) and 3.0% (commerciallindustrial) of gross assessed valuation. Property tax revenue includes taxes collected on behalf of the following funds: General Fund, Parks and Recreation Fund, Cumulative Capital Development Fund, Redevelopment Tax Incremental Financing ( "TIF ") Funds, and a special levy to cover debt service of the College Football Hall of Fame. The City recognizes the need to further diversify the revenue stream, and to reduce its dependency on general property taxes to ensure that a broad base of users of city services, including nonresidents who work in the City, share in the funding of basic City services. As a result of the need to diversify the revenue stream, the City of South. Bend Common Council and Saint Joseph County Council adopted an additional local option income tax of 0.95% during 2009, increasing the tax rate from 0.8% to 1.75 %. The local option income tax increase consisted of three components: 0.2% increase in the economic development income tax, a new 0.25% public safety local option income tax and a new 0.5% property tax relief local option income tax The City continues to seek diversified sources of revenue that will reduce its reliance on property and income taxes. The City has supported efforts of the Indiana Association of Cities and Towns ( "IACT") "Hometown Matters" to lobby the state legislature to legislatively enable alternative revenue sources that best fit the needs of the community. A viable source of revenue is from 31 2012 % of 2011 % of Actuai Total Actual Total Tax Based General property 71,775,415 48.9% 76,445,349 50.0% County option income 13,748,824 9.3% 13,219,723 8.6% County economic development 8,324,878 5.6% 8,044,773 5.3% Professional sports,development 633,904 0.4% 558,268 0.4% Community revitalization district 653,185 0.4% 733,100 0.5% Total Tax 95,136,206 64.6% 99,001,213 64.8% Non Tax Based Licenses and permits 189,714 0.1% 190,943 0.1% Intergovernmental 31,297,526 21.3% 34,419,714 22.5% Charge for services 12,442,553 8.4% 13,990,267 9.2% Fines and forfeitures 334,767 0.2% 636,749 0,4% Interest income 1,317,443 0.9% 1,050,768 0.7% Donations 324,266 0.2% 305,670 0.2% Other 6,336,609 4.3% 3,281,848 2;.1% Total Non -Tax Based 52,242,878 35.4% 53,875,959 35.2% Total Revenue 147,379,084 100.0% 152,877,172 100.0% Tax revenue continues to represent the most significant source of revenue required to support services provided by the City. Property tax revenue is the primary source of funding for governmental expenditures. Property tax revenue is based on a relationship between two variables. The first variable is the assessed property valuation of industrial, commercial and residential parcels for both real and personal properly. The second variable is the application of a tax rate to arrive at the total tax levy. Taxable property is assessed at 100% of the true tax value. The amount of property tax levied (billed to property owners) is further restricted by State of Indiana enacted property tax legislative reform, or so- called "circuit breaker" property tax caps in 2009 of 1.0% (homestead), 2.0% (other residential /rental) and 3.0% (commerciallindustrial) of gross assessed valuation. Property tax revenue includes taxes collected on behalf of the following funds: General Fund, Parks and Recreation Fund, Cumulative Capital Development Fund, Redevelopment Tax Incremental Financing ( "TIF ") Funds, and a special levy to cover debt service of the College Football Hall of Fame. The City recognizes the need to further diversify the revenue stream, and to reduce its dependency on general property taxes to ensure that a broad base of users of city services, including nonresidents who work in the City, share in the funding of basic City services. As a result of the need to diversify the revenue stream, the City of South. Bend Common Council and Saint Joseph County Council adopted an additional local option income tax of 0.95% during 2009, increasing the tax rate from 0.8% to 1.75 %. The local option income tax increase consisted of three components: 0.2% increase in the economic development income tax, a new 0.25% public safety local option income tax and a new 0.5% property tax relief local option income tax The City continues to seek diversified sources of revenue that will reduce its reliance on property and income taxes. The City has supported efforts of the Indiana Association of Cities and Towns ( "IACT") "Hometown Matters" to lobby the state legislature to legislatively enable alternative revenue sources that best fit the needs of the community. A viable source of revenue is from 31 Management Discussion & Analysis user fees and/or charges for services currently being performed. City performed services are priced based at levels representing the full cost of service, taking into consideration fees charged by providers of similar services. The City performs ongoing reviews of user fee costs incurred and revises service fee prices as required. Governmental Fund Expenditures The City accounts for government fund expenditures in seven categories as follows_ 1) general government, 2) public safety, 3) highways and streets, 4) economic development; 5) culture and recreation, 6) debt service and 7) capital outlay. The following schedule presents a summary of governmental fund expenditures for the year ended December 31, 2012 with comparison to the prior year. Government fund expenditures in fiscal 2012 of $162,460,000 decreased by ($9,937,679) or (5.8 %), in comparison to government fund expenditures in fiscal 2011. Capital outlay expenditures decreased by ($6,706,903} during 2012 due primarily to less overall spending on economic development projects from tax increment financing (TIF) funds. In addition, there was less spending on general government capital projects from the EDIT fund. Capital outlay projects in 2012 included improvements at Ignition Park, the Triangle housing development, continued demolition of the Studebaker automobile factory buildings and other economic development initiatives. Public Safety, expenditures decreased ($2,474,340) or (3.6 %) as less grant funding was available for police and fire programs. Highways and Street expenditures increased by $4,209,641 as the curb and sidewalk program was expanded and additional work on street maintenance was performed. Economic development spending decreased ($6,155,431) as there was less federal community development and housing grant funding available and certain economic development spending was included in the capital outlay category. Public Safety expenditure continues to be the primary use of government fund resources with 41.3% of expenditures used for this purpose in fiscal 2012. Public safety spending is followed by capital outlay expenditures (24.6 %), culture and recreation (11.4 %), debt service (10.9 %), highways & streets (5.7 %), general government (3.9 %), and economic development operating (2.2 %). General government spending is comprised of the executive offices of the Mayor, Common Council, City Clerk, City Attorney, Controller, Engineering and other administrative offices. 32 2012 % of 2011 % of Actual Total Actual Total General government 6,390,585 3.9% 6,680,855 3:9% Public safety 67,138,414 41.3% 69,612,754 40.4% Highways & streets 9,288,682 5.7% 5,079,041 2.9% Economic development 3,543,180 2.2% 9,698,611 5.6% Culture & recreation 18,557,986 11.4% 13,816,699 8.0% Debt service 17,557,026 10.9% 20,818,689 12.1% Capital outlay 39,984,127 24.6% 46,691,030 27.1% Total Expenditures 162,460,000 100.0% 172,397,679 100.0% Government fund expenditures in fiscal 2012 of $162,460,000 decreased by ($9,937,679) or (5.8 %), in comparison to government fund expenditures in fiscal 2011. Capital outlay expenditures decreased by ($6,706,903} during 2012 due primarily to less overall spending on economic development projects from tax increment financing (TIF) funds. In addition, there was less spending on general government capital projects from the EDIT fund. Capital outlay projects in 2012 included improvements at Ignition Park, the Triangle housing development, continued demolition of the Studebaker automobile factory buildings and other economic development initiatives. Public Safety, expenditures decreased ($2,474,340) or (3.6 %) as less grant funding was available for police and fire programs. Highways and Street expenditures increased by $4,209,641 as the curb and sidewalk program was expanded and additional work on street maintenance was performed. Economic development spending decreased ($6,155,431) as there was less federal community development and housing grant funding available and certain economic development spending was included in the capital outlay category. Public Safety expenditure continues to be the primary use of government fund resources with 41.3% of expenditures used for this purpose in fiscal 2012. Public safety spending is followed by capital outlay expenditures (24.6 %), culture and recreation (11.4 %), debt service (10.9 %), highways & streets (5.7 %), general government (3.9 %), and economic development operating (2.2 %). General government spending is comprised of the executive offices of the Mayor, Common Council, City Clerk, City Attorney, Controller, Engineering and other administrative offices. 32 Proprietary-funds Management Discussion & Analysis Condensed Statement of Net Position Revenue, Expenses, and Changes in Fund Net Position As of December 31, 2012 Total net position Water Utility Wastewater Century Center Other Total Enterprise Internal Service 7 (657,593) (4,531,221) Utility 407,138 (878,897) 7,276,745 (3,820,165) Total assets 79,664,266 199,865,594 18,483,089 13,687,561 311,700,510 17,316,623 Total deferred outflows - 19,193 - 1,691,476 1,710,669 - Total liabilities 24,606,352 113,575,012 254,985 5,524,503 143,960,852 7,275,311 Total deferred inflows 26,376 - - 12,584 38,960 - Net position: (101,255) (5,178,923) 1,483,568 (637,507) (4,434,117) 61,611 Capital assets net of debt 45,579,124 32,046,775 22,000,586 13,567,444 113,193,929 1,392,349 Restricted for: Debt service 3,302,782 13,332,530 - 543,914 17,179,226 - Capital outlay 4,146,001 6,659,721 1,274,877 108 12,080,707 - Unrestricted 2,003,631 34,270,749 (5,047,359) (4,269,516) 26,957,505 8,648,963 Total net position $55,031,538 $86,309,775 $18,228,104 $9,841,950 $169,411,367 $10,041,312 7 (657,593) (4,531,221) Chance in net position 1,792,953 5,955,551 407,138 (878,897) 7,276,745 (3,820,165) Operating revenues 14,190,243 30,963,483 1,149,365 8,672,788 54,975,879 21,133,578 Operating expenses 10,849,346 18 723,720 2,881,532 8,940,951 41,395,549 25,015,354 Operating income (loss) 3,340,897 12,239,763 (1,732,167) (268,163) 13,580 330 (3,881,776) Non - operating rev (exp) (101,255) (5,178,923) 1,483,568 (637,507) (4,434,117) 61,611 Income (loss) before 3,239,642 7,060,840 (248,599) (905,670) . 9,146,213 (3,820,165) contributions 8, transfers Capital contributions 21,650 1,300,000 655,737 32,866 2,010,253 Transfers in - - - 651,500 651,500 Transfers out (1,468,339) (2,405,289) 7 (657,593) (4,531,221) Chance in net position 1,792,953 5,955,551 407,138 (878,897) 7,276,745 (3,820,165) Total net position — 53,238,585 80,354,224 17,820,966 beginning Total net position — $55,031,538 $86,309,775 $18,228,104 ending 10,720,847 162,134,622 13, 861,477 $9,841,950 $169,411,367 $10,041,312 The City of South Bend maintains two types of proprietary funds; enterprise and internal service. The City maintains seven (7) enterprise funds. Information is presented separately in the proprietary statement of net position and the proprietary statement of revenues, expense and changes in fund net position for the Water Utility, Wastewater Utility and Century, Center, which are considered major enterprise funds. Data from the other four (4) non -major enterprise funds (Consolidated St. Joseph County /South Bend Building Department, Parking Garage, Solid Waste and Blackthorn Golf Course) are combined into a single, aggregated presentation, The City maintains five (5) internal service funds. The City of South Bend uses internal service funds to account for its business insurance and self - funded liability insurance program, self - funded employee health benefits program, police take home vehicle program, unemployment compensation claims and central services unit (a department that accounts for expenses related 33 Management Discussion & Analysis to fuel, vehicle repairs, printing and other services provided to City departments on a cost- reimbursement basis). The internal service funds have been combined into a single, aggregated presentation. As of December 31, 2012, City enterprise funds reported a net position of $169,411,367, an increase of $7,276,745 or 4.5% versus the amount as of December 31, 2011. At December 31, 2012, net position includes capital assets, net of related debt of $113,193,929, restricted for debt service and capital outlay of $29,259,933 and unrestricted of $26,957,505. The Water and Wastewater utilities reported an increase in net position of $1,792,953 and $5,955,551, respectively, during 2012. During 2012, the Wastewater utility benefitted from a 9% increase in sewer rates. The Wastewater utility experienced an 8% increase in residential revenue and a 10% increase in commercial revenue. The rates for the Water utility did not increase but it did achieve an 8% increase in residential revenue and a 12% increase in commercial revenue. This was primarily due to unusually high drought conditions. During 2012, Century Center experienced an increase in net position of $407,138 as the result of capital contributions in the amount of $655,737 from capital improvements at the facility paid for from tax increment financing and other funding sources. Other Enterprise Funds experienced a decrease in net position of ($878,897) during 2012.. The Parking Garage Fund reported a decrease in net position of ($796,473) primarily as the result of the amortization of sales /leaseback charges on the original acquisition. The Blackthorn Golf Course Fund reported an operating loss of ($113,132) as the result of stagnant golf fee revenue. As of December 31, 2012, City internal service funds reported a net position of $10,041,312, a decrease of ($3,820,165) or (27.6 %) as compared to 2011. The Liability Insurance fund decreased its net position ($2,554,534) in 2012 due to the establishment of a higher reserve for claims and lawsuits that were in process at December 31, 2012, The Central Services fund reported an increase in net position of $170,701, The Self- Funded Employee Benefits fund reported a decrease in net position ($1,573,514),due to higher health insurance claims paid by Anthem, the City's insurance provider. The City has initiated changes in its health insurance plan design and has an ongoing, active employee wellness program to help control future health insurance costs. Fiduciary funds Fiduciary funds are used to account for resources held for the benefit of parties outside the government. The City maintains five fiduciary funds, which consist of two pension trust funds (1925 Police Pension and 1937 Firefighter's Pension), one private- purpose trust fund (Cemetery) and two agency funds (Payroll and Morris /Palais Royale Box Office). Pension Trust Private Purpose Trust Agency Total assets 3,659,633 41,147 2,437,671 Total liabilities 780 - 2,437,671 Total net position 3,658,853 41,147 Total Additions 11,989,067 182 Total Deductions 12,215,139 - Changes in net position (226,072) 182 34 Management Discussion & Analysis The net position in the pension trust funds decreased by ($226,072) during 2012. The net position. in the private purpose trust fund (Cemetery) increased by $182 due to interest earnings_ Effective in fiscal 2009, with the passage of State legislation, funding responsibility for the 1925 Police and 1937 Firefighter's Pension Funds was assumed by the State of Indiana. These funds no longer receive property tax revenue distributions beyond fiscal 2009. The transfer of pension responsibility to the State of Indiana is on a reimbursement basis and will not provide additional revenue to the City for use in other property tax funded areas. The administration of the pension plans remains the responsibility of the City. The State of Indiana reimbursement is on a year delayed basis whereas, reimbursement in fiscal 2012 from the State of Indiana included reimbursement for pension benefits paid by the City in fiscal 2011. In addition, State reimbursement excludes healthcare benefit coverage to pension plan members, which is covered under the City of South Bend pension benefit program and which is paid from the pension trust funds. The decline in the net asset position of the pension trust is the result of timing differences in the payment of pension benefits and the reimbursement of same from the State of Indiana, as well as the cost of healthcare benefits to pension members, not covered by the state reimbursement program. Generali Fund Budgetary Highlights The City prepares an annual budget for general fund expenditures, which is subject to City of South Bend Common Council approval for adoption, before November 1St of the year preceding, the budget period, according to state statute concerning the annual budget of second class cities and towns. The General Fund budget applicable for fiscal 2012 is reported as follows: inal Revenue 64,355,996 Expenditures 64,355,996 Surplus (deficit) Actual Budgetary Final Basis Variance 64,414,210 63,409,839 (1,004,371) 66,404,644 63,696,316 2,708,328 (1,990,434) (286,477) 1,703,957 General Fund revenue was originally budgeted at $64,355,996 for fiscal 2012 with Common Council adoption of the 2012 general fund budget on October 10, 2011. During 2012, the General Fund revenue budget was, increased by $58,214 resulting in an ending revenue budget of $64,414,210. The revenue budget may be increased at any time based on updated revenue projections. During 2012, General Fund revenue achieved amounted to $63,409,839, a deficiency from the final budget level of $1,004,371. The primary reason for the revenue shortfall were property tax collections,. intergovernmental grants and charges for services revenue that were lower than budgeted. General Fund expenditures were originally budgeted at $64,355,996 for fiscal 2012 with Common Council adoption of the 2012 general fund budget on October 10, 2011. During 2012, the General Fund expenditure budget was increased $2,048,648 resulting in an ending expenditure budget of $66,404,644. The - expenditure budget increase resulted from an encumbrance roll over at year end 2011 to 2012 of $1,000,510 and additional appropriations of $1,048,138, which included additional appropriations for police and fire pension costs, graffiti removal and for a weekend illegal dumping cleanup crew. 35 Management Discussion & Analysis General Fund spending is reviewed on a monthly basis under the direction of the City Controller to ensure spending remains within budgetary constraints. Quarterly reviews are conducted as required with general fund department management to review spending projections to ensure that annual expenditures remain within the budgetary levels. Budget amendments for cost neutral redistribution between expense categories (i.e. personnel, supplies, services, capital) are submitted to Common Council at mid -year and year -end, as required to adjust the budget as necessary to prevent any budget overruns in any expense category. Additional appropriations for projects, initiatives, or unbudgeted spending requirements within the general fund are presented to the Common Council for adoption as deemed necessary by the Mayor. General Fund expenditures incurred on a budgetary basis, including cash expended and outstanding encumbrances'as of year -end December 31, 2012 amounted to $63,696,316. The expenditures and commitments as of year -end December 31, 2012 are less than the 2012 General Fund expenditure budget by $2,708,328 or 4.2 %. The largest savings were in the police fire, city attorney and administration/finance department budgets as personnel and other costs spent were less than budgeted due to position vacancies and other factors. Capital Assets and Debt Administration Statement of Capital Assets Governmental Business type Government wide Activities Activities Activities 2012 2011 2012 2011 2012 2011 Assets not depreciated Land 15,921,386 11,560,895 3,024,582 3,024,582 18,945,968 14,585.477 Construction in progress 7,502,620 13,150,305 6,647,833 12,217,249 14,150,453 25,367,554 Total 23,424,006 24,711,200 9,672,415 15,241,831 33,096,421 39,953,031 Assets depreciated Buildings 127,656,887 122,117,290 82,297,980 82,634,703 209,954,867 204,751,993 Non - building improvements 16,038,868 13,472,228 23,987,898 14,127,251 40,026,766 27,599,479 Machinery & equipment 50,304,539 48,052,987 29,235,757 31,056,887 79,540,296 79.109,874 Roads & Infrastructure 420,291,533. 404,725,515 190,938,764 175,414,463 611,230,297 580,139,978 Total Cost 614,291,827 588,368,020 326,460,399 303,233,304 940,752,226 891,601,324 Accumulated depreciation Buildings 36,735,257 33,542,840 31,348,151 29,662,880 68,083,408 61205,720 Non - building improvements 7,370,754 6,788,362 4,659,688 4,387,428 12,030,442 11,175,790 Machinery & equipment 33,647,007 32,683,696 22,162,990 23,654,700 55,809,997 56,338,396 Roads 257,852,591 246,914,124 55,469,771 51,101,161 313,322,362 298,015,285 Total 335,605,609 319,929,022 113,640,600 108,806,169 449,246,209 428,735,191 Net Depreciated Assets 278,686,218 268,438,998 212,819,799 194,427,135 491,506,017 462,866,133 Net Capital Assets 302,110,224 293,150.198 222,492,214 209,668,966 524,602,438 502,819,164 W Management Discussion & analysis City investment in capital assets for governmental and business type activities was $524,602,438 (net of depreciation) at December 31, 2012. The investment in capital assets-includes land and land improvements, buildings and building improvements, vehicles, information technology computers, machinery and equipment, and construction in progress. A detailed- explanation of these capital assets can be found in the Notes to the Basic Financial Statements. Under the category of roads and infrastructure, the current cost amount of $611,230,297 includes estimated costs derived primarily from the City's 2006 implementation of GASB Statement No. 34, which required the retroactive reporting of infrastructure capital assets. All other assets are recorded at historical cost. Manor Capital Asset Project Spending in 2412 Buildings Improvements M &E Ignition Park Lot 4 VA Clinic, land acquisition Water utility improvements East Bank Sewer Separation, Phases 3 & 4 Wastewater digester upgrade Manhole & sewer rehabilitation Michigan St. lift station replacement Automate DO controls for aeration blowers Capital Assets Analysis $4,901,808 Continued project 1,487,724 New project 422,937 Continued projects 3,075,710 Continued project 714,387 New project 466,712 . New project 531,937 New project 523,885 Continued project Government wide capital assets, net of accumulated depreciation as of December 31, 2012 of $524,602,438 increased by $21,783,274 or 4.3% when compared to the level as of December 31, 2011. Construction in progress capital assets decreased by $11,217,101, whereas capitalized assets in land, buildings, improvements, machinery and .equipment, and roads, net of depreciation, increased by $33,000,375, when compared to December 31, 2011. Several major capital projects were completed in fiscal 2012, as identified in the chart above, and included capital investments in buildings, improvements, machinery & equipment and roads..At December 31, 2012, the cost of Roads & Infrastructure ($611,230,296) was the major asset class followed by Buildings ($209,954,867) and Machinery & Equipment ($79,540,296). Total depreciation expense for 2012 was $25,827,428 as compared to $22,509,969 for 2011. Additional informatjon on capital assets can be found in the notes to the financial statements in statement note 1.D.6, capital asset capitalization policy, statement note III.C, capital asset activity, and statement note Ili.D, construction commitments. Debt Administration Outstanding debt principal as of December 31, 2012 was $263,325,022, an increase of $24,249,937 or 10.1 %. City outstanding debt includes revenue bonds, mortgage bonds, notes & loans payable and capital leases. Type Beginning Additions Retirements Ending Revenue bonds 190,127,431 38,585,000 14,652,431 214,060,000 Mortgage bonds 20,385,000 13,595,000 15,495,000 18,485,000 Notes & loans 19,974,243 1,734,826 2,906,529 18,802,540 Capital leases 8,588,411 5,373,816 1,984,745 11,977,482 Total Debt 239,075,085 59,288,642 35,038,705 263,325,022 37 Management Discussion & Analysis During 2012 the City issued the 2012 Sewage Works Revenue Bond in the amount of $25,000,000 for the purpose of funding improvements for the combined sewer overflow ( "CSO ") initiative. This bond is a twenty (20) year issue with maturity in 2032 with debt service coverage from the Sewage Works Bond Sinking fund. The bond issue will finance capital improvements addressing combined sewer overflow issues improving sewage discharge into the St_ Joseph River, in compliance with the Environmental Protection Agency ( "EPA ") consent decree. It is a part of a twenty year long -term control plan which will require additional bonding and sewer rate increases. In addition, during 2012 the City issued the 2012 Water Works Revenue Bonds in the amount, of $8,300,000 to finance improvements at the water utility. In 2012, the City also issued 2012 Career Academy Bonds in the amount of $1,500,000 to finance an economic development project. During 2012 the City entered into capital lease agreements in the amount of $5,373,816 to purchase certain vehicles, copiers, and equipment. The lease terms are typically for five years with semi- annual debt service paid from the operating budgets of the user departments. The 2012- - capital leases were for various city vehicles and related equipment for the police department ($1,295,000), fire department ($206,299), parks & recreation ($344,500), leaf. collection ($117,312), building department ($33,883) and public works ($3,376,822). The City solicits competitive financing proposals for lease financing from. local and national companies. During 2012 the City also entered into a loan with a local company in the amount of $1,700,000 to purchase land for a new Veteran's Affairs (VA) clinic in the downtown area. During 2012 the City refunded two bond issuances in order to take advantage of a more favorable interest rate environment and lower future debt service payments. The City issued bonds in the amount of $13,595,000 to refinance a 2003 mortgage for the construction of a new fire station and police station. The City also issued bonds in the amount of $3,785,000 to refinance an existing 2002 water utility bond. The savings on the fire /police station and water utility bonds are approximately $1,514,992 and $514,153, respectively, over the remaining term of the bonds. Under the Indiana Constitution and State statute, the City's general obligation bonded debt and certain other debt is subject to a legal limitation based upon 2% of total assessed value of real and personal property. The City had no general obligation bonded debt outstanding at December 31, 2012 and none of the above debt issuance amounts are subject to this debt limitation. In 2013, the City anticipates issuing additional debt for sewer improvement and fire department projects and plans to continue issuing refunding bonds as appropriate to take advantage of lower interest rates. In April, 2013 the City issued sewer refunding bonds in the amount of $14,765,000 and plans to refinance its 2008 Century Center bonds of approximately $4,165,000 during 2013. Additional information on debt can be found in the notes to the financial statements in statement note I.D.8, long -term obligation accounting, statement note III.F.2, capital lease obligations, statement note III.G, long -term liabilities, and statement note IV.C, conduit debt. A calculation of the City's legal debt limitation can be found in the statistical debt capacity section of this document. Economic Factors and 2013 Budget Economic Factors Property tax revenue, historically and at present, is the principal source of revenue for funding of governmental activities within the City of South Bend. M Management Discussion & Analysis The State of Indiana General Assembly enacted property tax reform legislation in March of 2008. House Enrolled Act 1001 (HEA 1001) which limits property taxes paid to 1% of gross assessed value for residential homesteads, 2% for agriculturallrental properties, and 3% for all other real and personal property. Under current legislation, all Indiana localities assess properties based on market values. Each year properties are trended. This process involves comparing property values to sales activity in the neighborhood and adjusting the current assessed values up or down according to the trended data. This legislation (known as "circuit breaker" legislation) was phased in commencing in fiscal 2009 and has lead to significant reductions in property tax revenues available to fund city governmental operations over the period from 2009 to the present. In 2012, the primary funds supported by property taxes (General Fund, Parks and Recreation Fund, and Cumulative Capital Development Fund) lost approximately $26 million dollars in taxable property tax levy due to the circuit breaker caps. As a consequence of the state enacted legislation in 2008, the City enacted a .95% local option income tax increase to partially offset the property tax revenue loss. The local option tax increase became effective in October, 2009, and has resulted in an increase in local income taxes available to the City to fund ongoing governmental operations of public safety, parks & recreation, code enforcement, highways & streets and general government. Management of the City of South Bend will continue to manage the financial affairs from a posture of fiscal conservatism similar to the management practices engaged during fiscal 2012. City Management believes that the national economic recovery will continue according to the predictions of governmental economists, with low to no inflation over the next fiscal period. in addition, job creation is the primary engine to drive economic recovery. 2014 Budget The City will engage to ensure effective delivery of required services to taxpayers and citizens within the constraints of available financial resources. The City will continue to provide required services within the constraints of a balanced general fund budget. The City has completed certain reengineering projects during fiscal 2012 targeted to create efficiency and cost improvements within City operations. Completed projects include payroll system reengineering, water utility customer service improvements, information technology server virtualization efforts, update to new Microsoft Office suite and operating system, implementation of a new telephone system and initial work creating a centralized 311 telephone call center. The City continues to_ pursue reengineering programs targeted to create efficiency and cost improvements within City operations. These include purchasing process reengineering, back office process improvements for human resources and other customer service operations. These initiatives, upon successful deployment completion, will achieve the desired results to create efficiency gains in the delivery of services to taxpayers. The City is committed to creating a budget for fiscal 2014 that will remain fiscally responsible to the effective delivery of required services to city citizens and stakeholders within the revenue constraints available. Specific concerns for the 2014 budget include the continuing impact of circuit breaker property tax reform on City revenue, high health and pension costs and other stagnant or declining revenue sources such as gasoline, wheel and auto excise taxes. 39 Management Discussion & Analysis Current Economic Development Pro'ects Executive management of the City of South Bend continues to pursue economic development and public works opportunities that, will have long term favorable impact on the economic prospects for the community as a whole. These projects include: Eddy Street Commons - Continued expansion of the currently existing $220 million dollar mixed -use - development completed for occupancy in 2009. The current configuration includes a 119 -room hotel; 25 new City homes with 100% occupancy; more than 20 stores and restaurants; office space; and 268 town homes, apartments and condominiums, which are 95% occupied, 17 flats that wrap the garage are completed, 30' are under construction, with an additional 15 planned. This is the region's largest single development in decades. Phase 11 of Eddy Street Commons is in the planning stages. Ignition Park- Along with Innovation Park at Notre Dame, these two sites are Indiana's first dual -site, state - certified technology park. Transpo, the county's public transportation authority, was the first tenant in Ignition Park and.dedicated its new facility in early 2010. The second tenant in Ignition Park, Data Realty, is a 50,000 square foot colocation, cloud services data center, with disaster recovery solutions and a managed analytics platform. Data Realty employs over 20 employees and committed over $15 million in private investment. • Renaissance District / Ivy Tower - Rehabilitation of an 800,000 square foot industrial space near downtown to create an expected 400 new jobs through a mixed use space to include data centers, high tech office space, and research facilities. The owner of this property has committed $10 million in private investment over a 10 year period. Triangle Development - Planned construction of 55 new single family residential properties in the Triangle area adjacent to the existing new Eddy Street Commons commercial development, creating a diverse new neighborhood in the City's northeast sector. Eleven new homes are underway, with many more in the planning stages. Seventy percent of the lots are being sold at market rate and thirty percent are reserved for income- eligible buyers. Six million dollars in private investment will transform this neighborhood. • East Bank Housing - Six "East Bank Townhomesn constructed and 100% occupied on the old Rink Riverside site; ten "River Race Townhomes" currently being constructed on the old Troeger site, with three occupied and three more under contract_ The River Race project is planned to include apartments and mixed use on its southern end along Jefferson Street. • Main / Lafayette Connector - Three million. dollar project to reconfigure Main and Lafayette and extend Barbie Street to the Chippewa Theatre. The project will create several developable sites for future business expansion and traffic flow on the south side of the City. • Memorial Hospital - A variety of City infrastructure and streetscape improvements totaling more than $6 million, in coordination with hospital investment, including a new fagade for the Bartlett Street parking garage and Skyway Building; reconstruction of four streets around the hospital campus; reconstruction of the Skyway Walkway over Michigan Street; new pervious parking lots along the 300 - 500 block of N. Michigan Street. • Rushton - This long vacant four story building at the corner of West Washington and William is being transformed through a partnership with South Bend Heritage Foundation. The building will house 23 units of senior housing and be completed with $3.1 million in private funding. 40 Management Discussion & Analysis Workforce Strategy — The Department of Community Investment is preparing a workforce training initiative to coordinate those who offer workforce training into a single council_ This council will focus its training efforts in areas of greatest need and growth, and will include measurable goals and assessment factors. } Energy Efficiency and Conservation -- Supported by a $1.046 million fedora] stimulus grant, the City has unveiled a new energy efficiency and conservation strategy which included the energy audit of 30 municipal buildings, synchronized timing of traffic signals at the 100 busiest intersections in the City and the production of hydroelectric power from the Saint Joseph River at the Century Center dam. A Municipal Energy Office. has been established and a source of funding will be identified to allow for continuing energy projects. • Existing Business Expansions — The City continues to work with private sector business concerns to enable expansion of their business operations in the City, adding new employment opportunities and tax base to the City. Tax abatements in 2012 are expected to result in $41,411,500 of new investment and add 83 jobs with an annual payroll of $4,921,000. Requests for Information This Management Discussion & Analysis as contained within the City of South Bend Comprehensive Annual Financial Report is intended to provide readers with a general overview of the financial condition of the City of South Bend as of December 31, 2012. Questions concerning any of the information provided in this report, or requests for additional information, should be addressed to: Mark W. Neal, City Controller City of South Bend Department of Administration and Finance 227 W. 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M N N U 2 O X C d '6 y y N y y y °_ C T° c m •� d (` 2 0) 7 7 c O. N E 7 0 j c p_ y O m a> 0 :3 c o m o M c a a c d ° U a U a S U H d 0 W m Z J 5 a 54 00 O M O N cq V (O N EH oc V V3 O N N O 61s N M O Lo 1 N 2 O c CU I O U1 y y C Z N E N O m `o. N L y H v Z O o ' ' ' ' ' O O (O C9 N c c 6 N c N o) O J (fl c p o N 1 N N V CD N N o N N n V O M o N N N O� y f� N 7 ;t V 0 3 7 N O O N EA O N O ° O) M y O W V V O M 5 d N N c C Z T N C O c d c X I'- a> c E m M O C O N C I� co O U N N y LO 0 ID N C O L O o 0 y y C O N (O O W � LO pz CO 7 ono C N l() l() -7 N 7 O O O N (NO O d U 0 y N N C@ C N N O y y E °o N O C> M LO L m 0 (O n 00 L M P- M V @ N (VO M 'O 0 - U ID O N C EA N o d) N o � yr y N O E a) O c C 0 a) C y y y O N N i L U • O (` U 'O N N co N 4) CU N O L I w c 1] O C (0 O. 7 U O l6 O o C c to O m U_ �. CL U l6 @ ° 0 0 0 y p c o U o o `_ o a, m ° c T U (O N U) -OO C L... Q O E Od P. U L a N N (0 U C 2 O' 2 d y o.• C L 0 CL C U "y6 m 0_ "a N^ Cc, y 3 y y y o of 3 iq N N N N Q y O y y y y m E 2 c r N m E:°-:°- m h o �- IOU m 7 0 o m° a. a m E O m U c ZUQUUU �U O'N N k[ w= I, F( _( O - m� \ L L �< O� SS Q R $S E y = n n s 77 \ \ �% \ ) \ oc < & & & _ a (;q � , , , , , ( \ \ co \ \ _ \ ƒ / \ 7 \ & & � \ k CO ) c \ / \ k \ / \ \ _ C4 C4 (3i C6 C6 k - m \ co CD (0 j m c ƒ \& C a a \\� _ m E L n § \ U) ) O 2 E ± j 0 f ] E ¥ ( & \ k U7 3 ok/ E \ 7 ± 2 7 7 m 2 = # � g w a E ° cu f § a E = 7$ y f E m E\ E » C: / U) 5 e m m =% . § 3 ° � 2 m 2 ° 2 _ ° 2 / % § § CL \ k \ k ( 2 / :3 \ \ U / \ C 7 / \ \\ f 7 k @ G G§ \ I E E S a \ f } I / \ < < O / k k / SS 56 { / / , / M \ _ \ ƒ \ & % -U) \ f I m m E m c c It o w ¥ It n c C14 e n © J = 7 o w It o t n n o n It o o w o r n / ¥ o A c r c ^ 2= 3 04 04 6 6 6 C\F C\F k Ld ( + C6 O 7 0) 7 & 0 7 \ � 12 r n / ® m m ƒ m= co \ k E LL F- E 2 / - \ ir U) m « _ LL ± 2 7 0 / = L / f E ) O 2 y O / z / § ± - 7 ) 2 F \ \ § CL \ F / 3 I = a g $ \ ) m \ g ± (D _ \ k k / $ _ U) R k k 2 ¥\ E 2 = m e 2 g \ = g =_ _% a E E o y 2\ \ f \ \ \ \ / ƒ \ k ® / \ 2 @ O a E / / / / I k k k k 56 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS Summary of Significant Accounting Policies A. Reporting Entity The City of South Bend (primary government) was established under the laws of the State of Indiana. The primary government operates under a Council -Mayor form of government and provides the following services: public safety (police and fire), highways and streets, health, welfare and social services, culture and recreation, public improvements, planning and zoning, general administrative services, water, sewer, and urban redevelopment and housing. The accompanying financial statements present the activities of the primary government and its significant component units. The component units discussed below are included in the primary government's reporting entity because of the significance of their operational or financial relationships with the primary government. Blended component units, although legally separate entities, are in substance part of the government's operations and exist solely to provide services for the govern- ment; data from these units is combined with data of the primary government. Blended Component Units The South Bend Redevelopment Authority, a legally separate entity, is a significant blended com- ponent unit of the primary government. The Redevelopment Authority's sole purpose is to finance and construct land, buildings and other improvements for use by the primary government. Financial statements for the Redevelopment Authority are available at the City Controller's Office, City of South Bend, 227 West Jefferson, 120ON County -City Building, South Bend, Indiana, 46601. The South Bend Building Corporation, Inc., is also a legally separate nonprofit corporation, and is a significant blended component unit of the primary government. The Building Corporation's main purpose is to finance construction and remodeling of City buildings for the City of South Bend. Debt of the Building Corporation is repaid through lease payments from the City. Financial statements for the Building Corporation are available at the City Controller's Office, City of South Bend, 227 West Jefferson, 1200N, County -City Building, South Bend, Indiana, 46601. Related Organizations The primary government's officials are also responsible for appointing the members of the boards of other organizations, but the primary government's accountability for these organizations does not extend beyond making the appointments. The Mayor and the Common Council appoint the board members of the South Bend Housing Authority, South Bend Public Transportation Corporation (TRANSPO), Urban Enterprise Association, and the Special Funds Board of Managers. During 2012, the Special Funds Board of Managers provided $1,313,436 to the City's Century Center to finance operations and $489,152 to the City's Professional Sports Development Fund, to finance capital costs of the College Football Hall of Fame. B. Government -Wide and Fund Financial Statements Government -wide financial statements (i.e., the Statement of Net Position and the Statement of Activities) report information on all of the nonfiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported 57 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) separately from business -type activities, which rely to a significant extent on fees and charges for support. Likewise, the primary government is reported separately from certain legally separate component units for which the primary government is financially accountable. The Statement of Activities demonstrates the degree.to which direct expenses of a given function or segments are offset by program revenues. Direct expenses are clearly identifiable with a specific function or segment. Program revenues include (1) charges to customers or applicants who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment and (2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even though the latter are excluded from the government -wide financial statements. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. C.. Measurement Focus, Basis of Accounting and Financial Statement Presentation The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting as are the proprietary fund and pension trust and private purpose trust fund financial statements. Agency funds, however, report only assets and liabilities. Since they do not report equity (or changes in equity), they have no measurement focus. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of the related cash flows.- Property taxes are recognized in the year for which they are levied. Grants and similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources meas- urement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the primary government considers revenues to be available if they are collected within sixty days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, claims and judgments, are recorded only when payment is due. Property taxes, franchise taxes, licenses and interest associated with the current fiscal period are all considered to be susceptible to accrual and have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when the primary government receives cash. The primary government reports the following major governmental funds: The general fund is the primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. The park and recreation fund is used to account for the operation of the City park system. Financing is provided by a specific annual property tax levy to the extent that user fees and miscellaneous revenues are insufficient to provide such financing. - 58 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) The public safety local option income tax (LOIT) fund is used to account for the City's share of the public safety local option income tax. Expenditures are restricted to public safety. The county option income tax (COIT) fund is used to account for the City's share of the county option income tax. Expenditures include any lawful purpose of the City. The economic'development income tax (EDIT) is to account for the City's share of the County Economic Development Tax. Expenditures include any lawful purpose of the City. The tax incremental financing (TIF) airport fund is used to account for public improvement projects in the airport economic development 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. The primary government reports the following major enterprise funds: The water utility fund accounts for the operation of the primary government's water distribution system. The wastewater utility fund accounts for the operation of the primary government's wastewater treatment plant, pumping stations and collection systems. The Century Center fund accounts for the operation and maintenance of the City's convention center. Financing is received from various user fees for conventions, meetings and other events held at the civic center and a subsidy from the St. Joseph County's Special Funds Board of Managers. Additionally, the primary government reports the following fund types: The internal service funds account for various City liability coverage, employee medical coverage, unemployment claims, and central services such as fuel, vehicle repairs and various supplies provided to other departments on a cost - reimbursement basis. The pension trust funds account for the activities of the 1925 police and 1937 fire pension funds which accumulate resources for pension benefit payments. The private - purpose trust fund reports a trust arrangement under which principal and income benefits cemetery maintenance. The agency funds account for assets held by the primary government as an agent for employee payroll, pension, and payroll deductions and held for an entertainment center's event deposits. As a general rule, the effect of interfund activity has been eliminated from the government -wide financial statements. Exceptions to this general rule are payments -in -lieu of taxes and payments of administrative costs. Elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned. Amounts reported as program revenues include (1) charges to customers or applicants for goods, services or privileges provided, (2) operating grants and contributions, and (3) capital grants and contributions. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. 59 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Proprietary funds distinguish operating revenues from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the enterprise funds are charges to customers for sales and services. Operating expenses for enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses. When both restricted and unrestricted resources are available for use, it is the primary government's policy to use restricted resources first, then unrestricted resources as they are needed. D. Assets, Liabilities and Net Position or Equity Deposits and Investments The primary government's cash and cash equivalents are considered to be cash on hand, demand deposits and short-term investments with original maturities of three months or less from the date of acquisition. State statute (IC 5 -13 -9) authorizes the primary government to invest in securities, including but not limited to, federal government securities, repurchase agreements, and certain money market mutual funds. Certain other statutory restrictions apply to all investments made by local govern- mental units. Nonparticipating certificates of deposit, demand deposits and similar nonparticipating negotiable instruments that are not reported as cash and cash equivalents are reported as investments at cost. Debt securities are reported at fair value. Debt securities are defined as securities backed by the full faith and credit of the United States Treasury or fully insured or guaranteed by the United States or any United States government agency. Open -end mutual funds are reported at fair value. Money market investments that mature within one year or less at the date of their acquisition are reported at amortized cost. There is no material difference between amortized cost and fair value. Other money market investments are reported at fair value. Investment income, including changes in the fair value of investments, is reported as revenue in the operating statement. 2. Interfund Transactions and Balances Activities between funds that are representative of lending /borrowing arrangements outstanding at the end of the fiscal year are referred to as "interfund receivables /payables" (i.e., the current and noncurrent portion of interfund loans). All other outstanding balances between funds are reported as interfund services provided /used." Any residual balances outstanding between the governmental activities and business -type activities are reported in the government -wide financial statements as "internal balances." CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) 3. Property Taxes Property taxes levied are collected by the County Treasurer and are usually distributed to the primary government in June and in December. State statutes (IC 6- 1.1- 17 -16) require the Indiana Department of Local Government Finance to establish property tax rates and levies by February 15. These.rates were based upon the preceding year's March 1 (lien date) assessed valuations adjusted for various tax credits. Taxable property is assessed at 100 percent of the true tax value (determined in accordance with rules and regulations adopted by the Indiana Department of Local Government Finance). Taxes may be paid in two equal installments that become delinquent if not paid by May 10 and November 10, respectively. 4. Inventories and Prepaid Items All inventories are valued at cost using the first in /first out (FIFO) method. Inventories of govern- mental funds are recorded as expenditures when consumed rather than when purchased. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government -wide and fund financial statements. 5. Restricted Assets Certain proceeds of the enterprise fund revenue bonds, as well as certain resources set aside for their repayment, are classified as restricted assets on the Statement of Net Position because their use is limited by applicable bond covenants. 6. Capital Assets Capital assets, which include property, plant, equipment and infrastructure assets (e.g., roads, bridges, sidewalks and similar items), are reported in the applicable governmental or business - type activities column in the government -wide financial statements. Capital assets are reported at actual or estimated historical cost based on appraisals or deflated current replacement cost. Contributed or donated assets are reported at estimated fair value at the time received. Capitalization thresholds (the dollar values above which asset acquisitions are added to the capital asset accounts), depreciation methods and estimated useful lives of capital assets reported in the government -wide statements and proprietary funds are as follows: Capitalization Depreciation Estimated Threshold Method Useful Life Buildings and improvements $ 5,000 Straight -Line 20 to 30 years Computer and office equipment 1,000 Straight -Line 5 to 10 Other equipment 5,000 Straight -Line 5 to 20 Roads — collectors and residential 5,000 Straight -Line 40 to 50 Utilities' infrastructure (small) 51000 Straight -Line 30 to 99 Utilities' infrastructure (large) 5,000 Straight -Line 30 to 99 The City has implemented retroactive reporting of its infrastructure as of December 31, 2006. For depreciated assets, the cost of normal maintenance and repairs that do not add to the value of the asset or materially extend asset lives are not capitalized. 61 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred during the construction phase of capital assets of business -type activities is included as part of the capitalized value of the assets constructed. 7. Compensated Absences a. Sick Leave — primary government employees earn sick leave at the rate of 4 to, 8 days per year, depending upon employee classification and length of service. Policemen, teamsters, 40 hour per week firemen, and all other employees earn 8 sick days per year, regardless of tenure of service. Firemen working 24 hour workdays with tenure greater than 5 years earn 5 days of sick leave per year, and firemen working 24 hour workdays with tenure less than 5 years, earn 4 days of sick leave per year. Sick leave may accumulate to a maximum 90 days for policemen, 100 days for 40 hour per week firemen, 38 days for 24 per day fireman, 75 days for teamsters and 65 days for all other employees. 'Accumulated sick leave is paid to firemen and policemen upon termination of employment depending upon the number of sick leave hours transacted, at a rate of 50 percent to 100 percent of the base hourly rate of pay for firemen and at a rate of one -half the 1st class patrolman rank rate of pay for policemen. Accumulated sick leave is paid to teamster employees, upon retirement, at a rate of $25 for each accumulated sick leave day transacted. Sick leave buy -back during employment is paid to firemen and policemen annually upon request. Upon request, firemen are paid unused sick days earned in the previous year in excess of 252 hours in the sick day bank at the base hourly rate of pay. Upon request, policemen are paid up to a maximum 8 unused sick days at the 1st class patrolman rate of pay. b. Vacation Leave — primary government employees earn vacation leave at rates from 0 days to 28 days based upon hire date, years of service, and employee classification. Vacation leave does not accumulate from year to year for policemen, firemen, and teamster employees, except in instances where special cases are approved. Nonbargaining carryover to the following year unused vacation time up to a maximum of 80 hours. Employees earn vacation leave during the year for use in the succeeding year. Unused vacation leave is paid to employees upon termination of employment. Firemen may sell back vacation leave, up to a maximum 3 days per year, during selected times of the year, at the employee's normal hourly rate of pay. c. Personal Leave — primary government policemen earn personal leave at the rate of 7 days per year, and have the opportunity to earn an additional 3 days leave with participation in regularly scheduled police practice shooting exercises. Policemen personal leave does not accumulate from year to year. Policemen unused personal leave may be rolled into sick leave. City employees under the teamster contract can use up to 4 days of their sick leave for personal leave. d. Compensatory Leave — primary government firemen can elect to receive compensation for overtime hours worked either through wage payment or compensatory time -off work up to a maximum of 240 hours. All other nonexempt employees working overtime hours earn compensatory time off up to a maximum balance of 32 hours, after which they are paid overtime wage. All other exempt employees working overtime hours earn compensatory time up to a maximum balance of 160 hours. Unused vacation leave for all City employees, and unused sick leave and compensatory leave of firemen, policemen, and teamsters is accrued when incurred and reported as a liability in the Statement of Net Position. Amounts due and payable at year end are included in the proprietary fund statements. No liability is recognized in the governmental fund statements. 62 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) 8. Long -Term Obligations In the government -wide financial statements and proprietary fund types in the fund financial statements, long -term debt, and other long -term obligations are reported as liabilities in the applicable governmental activities, business -type activities or proprietary fund type Statement of Net Position. Bond premiums and discounts are deferred and amortized over the life of the bonds using the straight -line method_. Bonds payable are reported net of the applicable bond premium or discount. In the fund financial statements, governmental fund types recognize bond premiums and dis- cou'nts during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuance are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Net position restricted for debt service and for capital outlay shown in the business -type activities and in the enterprise funds are restricted pursuant to state statute and /or local ordinance. 9. Fund Equity Fund balances are reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes forwhich amounts in those funds can be spent. A brief description of each category is as follows: Nonspendable fund balances include items that cannot be spent. This includes activity that is not in a spendable form (long -term portions of loans, property held for resale) and activity that is legally or contractually required to remain intact, such as principal balances in a permanent fund. Restricted fund balances have constraints placed upon the use of the resources either by an external party such as a grantor or creditor or imposed by law through constitutional provisions or enabling legislation.. Committed fund balances can be used only for specific purposes pursuant to constraints imposed by a formal action by the South Bend City Common Council, the City's highest level of decision- making authority, or by the South Bend Redevelopment Commission. This formal action is the passage of an ordinance by the Council or resolution by the Commission specifying the purposes for which the funds can be used. The same type of formal action is necessary to remove or change the specified use. Assigned fund balances include amounts that are constrained by the City's intent to be used for a specific purpose, but are neither restricted nor committed. For the governmental fund types other than the General Fund, this is the residual amount within the fund that is not restricted or committed. Assignments of fund balance are imposed by informal action of the City Controller. The unassigned fund balance is the residual amount of the General Fund not included in the four categories above. Only the General Fund may report a positive unassigned fund bal- ance whereas, other governmental funds may need to report a negative unassigned fund balance if expenditures incurred for specific purposes exceeded the amounts restricted, committed, or assigned to those purposes. 63 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) When both restricted and unrestricted amounts are available for use, generally it is the City's policy to use restricted amounts first, with unrestricted resources utilized as needed. In the case of unrestricted resources, it is generally the City's policy to use committed amounts first, followed by assigned amounts, then unassigned amounts as needed. The fund balance policy includes reserve ranges for funds as follows: General: 25% of annual expenditures COIT: 50% of annual expenditures EDIT: 50% of annual expenditures Water operating: 5% of annual expenditures Wastewater operating: 5% of annual expenditures Other: generally 20% or 25% of annual expenditures The detail of the fund balance classifications of the governmental funds for the year ended December 31, 2012, is as follows: Major Governmental Funds Other Total General Park and Public Safety Goaemmental Governmental Fund Recreation LOIT COIT EDIT TIF Airport Funds Funds Nonspendable: Noncurrent loans receivable $ $ - $ $ 66,667 $ $ $ 9,110,620 $ 9,177,287 Irnentory - 56,216 - - - 56,216 Property held for resale 240,432 - - 569,499 449,831 7,869,562 9,890,872 19,020,196 Advances to other funds 717,909 2,027,973 - 1,825,519 6,990,751 11,562,152 Total nonspendable 958,341 56,216 2,664,139 449,831 9,695,081 25,992,243 39,815,851 Restricted: General go\ernment - - - - - - 1,490,806 1,490,806 Public safety - - 2,992,510 - - 1,789,828 4,782,338 Highways and streets - - - 12,091,055 12,091,055, Economic de\,elopment - - - 16,919,784 26,678,877 43,598,661 Culture and recreation 4,657,542 - - - 2,277,312 6,934,854 Debt service - - - 9,428,853 9,428,853 Total restricted - 4,657,542 2,992,510 - 16,919,784 53,756,731 78,326,567 Committed: General go\,emment - - - - - 4,345,292 4,345,292 Public safety - - - 5,821,613 5,821,613 Economic development - - 402,463 402,463 Culture and recreation - - - 572,677 572,677 Total committed - - 11,142,045 11,142,045 Assigned: General govemment 6,652 15,119,666 9,922,196 9,492,598 34,541,112 Public safety 20,054 - - - 102,702 122,756 Highways and streets 107,052 - - 107,052 Economic development - - - 543,490 543,490 Culture and recreation 31,631 - - - 31,631 Total assigned 165,389 - 15,119,666 9,922,196 10,138,790 35,346,041 Unassigned 27,671,353 - - - - (4,219,066) 23,452,287 Total fund balance $28,795,083 $4,713,758 $ 2,992,510 $17,783,805 $10,372,027 $26,614,865 $ 96,810,743 $ 188,082,791 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) The government -wide Statement of Net Position reports restricted net position for debt service and capital outlay, which is restricted by enabling legislation. Il. Stewardship, Compliance and Accountability A. Budgetary Information Annual budgets are adopted on the cash basis which is not consistent with accounting principles generally accepted in the United States of America. All annual appropriations lapse at fiscal year end. Annual budgets are adopted for the following governmental funds: General Major governmental funds: Special revenue funds - park and recreation, public safety local option income tax (LOIT), county option income tax (COIT), economic development income tax (EDIT) Capital projects fund — TIF Airport Nonmajor governmental funds: Special revenue funds - motor vehicle highway, recreation nonreverting, Studebaker Oliver revitalization grants, economic development State grants, DCI operating, community invest- ment, police state seizure, juvenile positive assistance, law enforcement continuing education, loss recovery, local road and street, excess welfare distribution, human rights federal, east race waterway, Morris and Palais marketing, police block grants, economic development commission, hazmat, Indiana river rescue, COPS block grant II, regional police academy, COPS MORE grant, federal drug enforcement, gift, urban development action grant, leaf collection and removal, police K -9 unit, rainy day Debt service fund - college football hall of fame debt service, redevelopment bond — central development, redevelopment bond — airport taxable, Coveleski bond debt service reserve, redevelopment — Palais Royale Capital projects funds - emergency medical services, professional sports development, Coveleski stadium capital, zoo endowment, park nonreverting capital, cumulative capital development, cumulative capital improvement, Morris Performing Arts Center capital, TIF downtown, TIF Leighton Plaza, TIF —West Washington, redevelopment general, community revitalization enhancement district, TIF No. 1 — southside development, TIF No. 2 — southside development, TIF No. 3 — southside development, TIF — central medical service area, football hall of fame capital, major moves, TIF — northeast development, TIF Douglas road, TIF northeast residential, certified technology park, Palais Royale historic preservation, airport urban enterprise zone On or before August 31, the City Controller submits to the Common Council a proposed operating budget for the year commencing the following January 1. Prior to adoption, the budget is advertised and public hearings are conducted by the Common Council to obtain taxpayer comments. Prior to November 1 of each year, the Common Council through the passage of an ordinance approves the 65 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) budget for the next year. Copies of the budget ordinance and the advertisement for funds for which property taxes are levied or highway use taxes are received are sent to the Indiana Department of Local Government Finance. The budget becomes legally enacted after the City Controller receives approval of the Indiana Department of Local Government Finance. The primary government's management cannot transfer budgeted appropriations between object classifications of a budget without approval of the Common Council. The Department of Local Government Finance must approve any revisions to the appropriations for any fund or any depart- ment of the General Fund. The legal level of budgetary control is by object and department within the fund for the General Fund and by object within the fund for all other budgeted funds. Expenditures did not exceed appropriations for any funds or any departments within the general fund, within the park and recreation fund, within the public'safety LOIT fund, within the COIT fund, within the EDIT fund, or within any other major or nonmajor governmental fund which required legally, approved budgets. B. Deficit Fund Equity At December 31, 2012, the following funds reported deficits in fund equity, which are violations of State statute: Deficit Nonmajor governmental funds: TIF - Douglas road $ 550,815 TIF - northeast residential 1,664,902 Internal service fund: Liability insurance premium reserve 337,078 Fund equity deficits arose primarily from expenditures or expenses exceeding revenues due to the underestimate of current requirements. It is anticipated that these deficits will be repaid from future revenues. III. Detailed Notes on All Funds A. Deposits and Investments 1. Deposits Custodial credit risk is the risk that in the event of a bank failure, the government's deposits may not be returned to it. Indiana Code 5- 13 -8 -1 allows a political subdivision of the State of Indiana to deposit public funds in a financial institution only if the financial institution is a depository eligible to receive state funds; and has a principal office or branch that qualifies to receive public funds of the political subdivision. At December 31, 2012, the bank balances held at Wells Fargo Bank NA, US Bank National Association, 1St Source Bank, KeyBank, PNC Bank, and at Suntrust in the amounts of $2,263,536; $3,741844; $976,910; $22; $206,299, and $1,941; respectively, were collateralized with securities held by the pledging financial institution's trust department or CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) agent in the depositor- City's name. At December 31, 2012, the bank balances held at Bank of New York Mellon and 15' Source Bank, in the amounts of $9,732,256 and $5,606,606, respectively, were collateralized with securities held by the pledging financial institution's trust department or agent but not in the depositor- City's name. The remaining bank balances were insured by the Federal Deposit Insurance Corporation or the Public Deposit Insurance Fund, which covers all public funds held in approved depositories. The City has not formally adopted a deposit policy for custodial credit risk. 2. Investments Authorization for investment activity is stated in Indiana Code 5 -13. As of December 31, 2012, the City had the following investments: Investment Type U.S. government agency securities $ Investment Policies Primary Government Imestment Maturities (in Years) Fair Less More Value Than 1 1 -2 Than 2 85,385,411 $ 8,551,000 $ 76,834,411 $ Indiana Code 5 -13 -9 authorizes the City to invest in securities backed by the full faith and credit of the United States Treasury or fully guaranteed by the United States of America and issued by the United States Treasury, a federal agency, a federal instrumentality, or a federal government sponsored enterprise. Indiana Code also authorizes the unit to invest in securities fully guaranteed and issued by a federal agency, a federal instrumentality or a federal government sponsored enterprise. These investments are required by statute to have a stated final maturity of not more than two years. Indiana Code also provides for investment in money market mutual funds that are in the form of securities of, or interest in, an open -end, no -load, management -type investment company or investment trust registered under the provision of the federal Investment Company Act of 1940, as amended. Investments in money market mutual funds may not exceed 50 percent of the funds held by the City and available for investment. The portfolio of an investment company or investment trust used must be limited to direct obligations of the United States of America, obligations issued by a federal agency, a federal instrumentality, or a federal government sponsored enterprise; or repurchase agreements fully collateralized by direct obligations of the United States of America or obligations issued by a federal agency, a federal instrumentality; or a federal government sponsored enterprise. The form of securities of, or interest in, an investment company or investment trust must be rated as AAA, or its equivalent by Standard and Poor's Corporation or its successor or Aaa, or its equivalent, by Moody's Investors Service, Inc., or its successor. The form of securities in an investment company or investment trust should have a stated final maturity of one day. 67 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Additionally, the City may enter into repurchase agreements with depositories designated by the State Board of Finance as depositories for state deposits involving the unit's purchase and guaranteed resale of any interest - bearing obligations issued or fully insured or guaranteed by the United States of America, a United States of America government agency, an instrumentality of the United States of America, or a federal government sponsored enterprise. The repurchase agreement is considered to have a stated final maturity of one day. This agreement must be fully collateralized by interest - bearing obligations as determined by their current market value. Investment Custodial Credit Risk The custodial credit risk for investments is the risk that, in the event of the failure of the coun- terparty to a transaction, a government will not be able to recover the value of-investment or collateral securities that are in the possession of an outside party. The City does not have a formal investment policy for custodial credit risk for investments. At December 31, 2012, the City held investments in U.S. government agency securities in the amount of $85,385,411. These investments were held by the counterparty's trust department or agent but not in the City's name. Interest Rate Risk Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The City must follow state statue and limit the stated final maturities of the invest- ments to no more than two years. The City does not have a formal investment policy for interest rate risk. The following schedule is a summary of the interest rate risk disclosure as of December 31, 2012: Primary Government: Investment Type U.S. government agency securities Credit Risk Investment Maturities (in Years) Less More Than 1 1 -2 $ 8,551,000 $ 76, 834,411 $ Than 2 Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its obligations. U.S. government agency securities are implicitly guaranteed by the full faith and credit of the U.S. government and are recognized as one of the safest investment available. The City does not have a formal investment policy for credit risk. CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Concentration of Credit Risk Concentration of credit risk is the risk of loss attributed to the magnitude of a government's investment in a single issuer. The City does not have a policy in regards to concentration of credit risk. United States of America government and United States of America governmental agency securities are exempt from this policy requirement. Foreign Currency Risk The City does not have a formal policy in regards to foreign currency risk. The City does not have any foreign currency. B. Receivables The following receivable accounts have timing and credit characteristics different from typical ac- counts receivable. As of December 31, 2012, City funds recognized the following loan receivable balances. The schedule shows the total receivable and the portion that is not due within one year. These loans were for economic development projects: Fund Major governmental funds: County option income tax Nonmajor governmental funds: Economic development state grants Community investment Urban development action grant Industrial revolving TIF downtown Totals .• Receivable Noncurrent $ 66,667 $ 66,667 579,779 482,025 406,841 317,336 2,359,702 2,358,852 5,934,065 5,253,097 883, 311.00 699,310 $ 10,230,365 $ 9,177,287 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) C. Capital Assets Capital assets as previously reported at December 31, 2011 have been reclassified and restated as follows: Primary Go\,ernment Governmental activities: Capital assets, not being depreciated: Land Construction in progress Total capital assets, not being depreciated Capital assets, being depreciated: Buildings Improvements other than buildings Machinery and equipment Roads and other infrastructure Totals Less accumulated depreciation for: Buildings Improvements other than buildings Machinery and equipment Roads and other infrastructure Totals Total capital assets, being depreciated, net Total governmental activities capital assets, net 70 Reclassifications Restated 12 -31 -11 and Beginning Balance Restatements Balance $ 13,285,449 $ 13,150,305 (1,724,554) $ 11,560,895 13,150, 305 26,435,754 (1,724,554) 24,711,200 116,244, 771 5,872,519 122,117, 290 43,335,206 (29,862,978) 13,472,228 47,218,930 834,057 48,052,987 380,500,515 24,225,000 404,725,515 587, 299, 422 1,068,598 588, 368, 020 33, 761, 990 (219,150)' 33, 542, 840 8,163, 538 (1,375,176) 6,788,362 31,953,062 730,634 32,683,696 246, 015,123 899,001 246, 914,124 319, 893, 713 35,309 319, 929, 022 267,405, 709 1,033,289 268,438, 998 $293,841,463 $ (691, 265) $ 293,150,198 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Primary Government Business -type activities: Capital assets, not being depreciated: Land Construction in progress Total capital assets, not being depreciated Capital assets, being depreciated: Buildings Improvements other than buildings Machinery and equipment Roads and other infrastructure Totals Less accumulated depreciation for: Buildings Improvements other than buildings Machinery and equipment Roads and other infrastructure Totals Total capital assets, being depreciated, net Total business -type activities capital assets, net Reclassifications Restated 12 -31 -11 and Beginning Balance Restatements Balance $ 3,024,582 $ 12,217,249 15,241, 831 $ 3,024,582 12, 217, 249 _ . 15,241,831 88,915,505 (6,280,802) 82,634,703 160, 004, 338 (145, 877, 087) 14,127, 251, 54, 800, 866 (23, 743, 979) 31, 056, 887 - 175,414,463 175,414,463 303, 720, 709 (487,405) 303,233,304 44, 092,151 (14,429, 271) 29, 662, 880 26,213,770 (21,826,342) 4,387,428 38,527,629 (14,872,929) 23,654,700 - 51,101,161 51,101,161 108, 833, 550 (27, 381) 108, 806,169 194, 887,159 (460, 024) 194, 427,135 $ 210,128, 990 $ (460, 024) $ 209, 668, 966 Capital asset activity for the year ended December 31, 2012, was as follows: Restated Beginning Ending Primary Govemment Balance Increases Decreases Balance Governmental activities: Capital assets, not being depreciated: Land Construction in progress Total capital assets, not being depreciated $ 11,560,895 $ 4,373,019 .$ 12,528 $ 15,921,386 13,150, 305 7,502,620 13,150, 305 7,502,620 71 24,711,200 11,875,639 13,162,833 23,424,006 CITY OF SOUTH BEND 33,542,840 3,192,417 NOTES TO FINANCIAL STATEMENTS Improvements other than buildings (Continued) 582,392 - 7,370,754 Restated 32,683,696 3,035,549 Beginning Roads and other infrastructure Ending Primary Government Balance Increases Decreases Balance Governmental activities (continued): 17,748,825 2,072,238 335,605,609 Capital assets, beirrg depreciated: Buildings 122,117,290 5,539,597 - 127,656,887 Improvements other than buildings 13,472,228 2,566,640 - 16,038,868 Machinery and equipment 48,052,987 4,379,416 2,127,864 50,304,539 Roads and other infrastructure 404,725,515 15,566,018 - 420,291,533 Totals 588,368,020 28,051,671 2,127,864 614,291,827 Less accumulated depreciation for Buildings 33,542,840 3,192,417 - 36,735,257 Improvements other than buildings 6,788,362 582,392 - 7,370,754 Machinery and equipment 32,683,696 3,035,549 2,072,238 33,647,007 Roads and other infrastructure 246,914,124 10,938,467 - 257,852,591 Totals 319,929,022 17,748,825 2,072,238 335,605,609 Total capital assets, being depreciated, net 268,438,998 10,302,846 55,626 278,686,218 Total governmental activities capital assets, net $ 293,150,198 $ 22,178,485 $ 13,218,459 $ 302,110,224 72 Restated Beginning Ending Primary Government Balance Increases Decreases Balance Business -type activities: Capital assets, not being depreciated: Land $ 3,024,582 $ - $ - $ 3,024,582 Construction in progress 12,217,249 16,893,308 22,462,724 6,647,833 Total capital assets, not being depreciated 15,241,831 16,893,308 22,462,724 9,672,415 Capital assets, being depreciated: Buildings 82,634,703 116,164 452,887 82,297,980 Improvements other than buildings 14,127,251 10,150,441 289,794 23,987,898 Machinery and equipment 31,056,887 1,844,595 3,665,725 29,235,757 Roads and other infrastructure 175,414,463 15,524,301 - 190,938,764 Totals 303,233,304 27,635,501 4,408,406 326,460,399 72 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Primary Government Business -type activities (continued): Capital assets, being depreciated (continued): Less accumulated depreciation for: Buildings Improvements other than buildings Machinery and equipment Roads and other infrastructure Totals Total capital assets, being depreciated, net Total business -type activities capital assets, net Restated Beginning Ending Balance Increases Decreases Balance 29,662,880 2,084,342 399,071 31,348,151 4,387,428 534,524 262,264 4,659,688 23,654,700 1,091,127 2,582,837 22,162,990 51,101,161 4,368,610 - 55,469,771 108,806,169 8,078,603 3,244,172 113,640,600 194,427,135 19,556,898 1,164,234 212,819,799 $209,668,966 $ 36,450,206 $ 23,626,958 $ 222,492,214 Depreciation expense was charged to functions /programs of the primary government as follows: Governmental activities: General government $ 557,322 Public safety 2,376,297 Highways and streets, and other 4,945,992 general infrastructure assets 11,320,846 Culture and recreation 2,741,033 Economic development 664,443 Internal service funds* 88,884 Total depreciation expense - governmental activities $ 17,748,825 Business -type activities: Water $ 1,828,072 Wastewater 4,945,992 Civic center 665,015 Building permits 14,907 Parking garage 210,974 Solid waste 254,893 Golf course 158,750 Total depreciation expense - business -type activities $ 8,078,603 *Capital assets held by the primary government's internal service funds are charged to the various functions based on their usage of the assets. 73 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) D. Construction Commitments Construction work in progress is composed of the following: Total - Govemmental activities Business -type activities: Water utility: Pinhook WTP Efficiency Improvements Ironwood /Auten Main SR 23 Wastewater Utility: Bowman Creek Control Structure Sewer Overflow Sensory Network Digester Upgrade at WWTP Michigan St Lift_Station Replacement East Bank Sewer Separation Phase 3 Primary Clarifier upgrades Automate DO Controls for Aeration Blowers Aeration controls Organic Resources Site Improvements East Bank Sewer Separation Phase 4 Southwood Sewer Separation Diamond Avenue Sewer Separation Phase 3 Century Center. Lighting upgrades $ 18,839,426 $ 7,502,620 $ 11,336,806 $ $ 3,444,908 $ Total Expended to Required 22,849 Project December 31, Future Project Authorized 2012 Committed Funding Governmental activities: 288,050 110,758 1,229,000 2012 Manhole & sewer rehabilitation $ 1,860,000 $ 466,712 $ 1,393,289 $ - County -City Bldg 12th & 14th floor renovations 49,380 3,630 45,750 - Rushton Bldg rehabilitation 313,182 104,050 209,132 - Ignition Park lot 4 11,660,337 4,901,808 6,758,530 - VA clinic improvements (Gates property) 1,828,597 1,487,724. 340,873 - Memorial /Skyway facade improvements 3,027,930 446,465 2,581,465 - Eddy & Cedar intersection upgrade 100,000 92,232 7,768 - Total - Govemmental activities Business -type activities: Water utility: Pinhook WTP Efficiency Improvements Ironwood /Auten Main SR 23 Wastewater Utility: Bowman Creek Control Structure Sewer Overflow Sensory Network Digester Upgrade at WWTP Michigan St Lift_Station Replacement East Bank Sewer Separation Phase 3 Primary Clarifier upgrades Automate DO Controls for Aeration Blowers Aeration controls Organic Resources Site Improvements East Bank Sewer Separation Phase 4 Southwood Sewer Separation Diamond Avenue Sewer Separation Phase 3 Century Center. Lighting upgrades $ 18,839,426 $ 7,502,620 $ 11,336,806 $ $ 3,444,908 $ 184,490 3,260,418 257,000 22,849 234,151 260,000 215,598 44,402 55,900 51,777 4,123 398,808 288,050 110,758 1,229,000 714,387 514,613 594,001 531,937 62,064 2,809,306 2,721,711 87,595 705,700 370,498 335,202 775,051 454,056 320,995 78,400 69,829 8,571 479,795 449,324 30,471 405,600 353,999 51,601 198,483 125,626 72,857 84,830 58,642 26,188 143,000 35,060 107,940 Totals - Business -type activities $ 11,919,781 $ 6,647,833 $ 5,271,948 $ 74 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) E. Interfund Balances and Activity 1. Interfund Receivables and Payables 75 Interfund Fund Receivable Payable General $ 24,689 $ 152,654 Park and recreation - 30,460 COIT - 83,197 TIF Airport 700 - Other nonmajor governmental funds: Motor vehicle highway - 106,385 DCI operating - 275 Community investment - 24,639 Leaf collection an removal - 442 Redevelopment bond - airport taxable - 533 Redevelopment bond - palais royale - 890 TIF Downtown 890 - Totals - other nonmajor governmental funds 890 133,164 Total - governmental funds 26,279 399,475 Water Utility - 25,457 Wastewater Utlity - 89,509 Other Nonmajor enterprise funds: Consolidated building - 1,453 Solid waste 4,333 53,664 Blackthorn golf course - 167 Total - other nonmajor enterprise funds 4,333 55,284 Total - enterprise funds 4,333 170,250 Internal service funds: Liability insurance premium reserve - 128 Central services 539,535 294 Total - internal service funds 539,535 422 Total - all funds $ 570,147 $ 570,147 75 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) The composition of interfund balances as of December 31, 2012, is as follows: interfund balances resulted from the time lag between the dates that (1) Interfund loans are repaid, (2) Interfund goods and services are provided or reimbursable expenditures occur, (3) transactions are recorded in the accounting system and (4) payments between funds are made. 2. Advances Between Funds The advances between funds record noncurrent portions of long -term loans from one fund tp another. Advances at December 31, 2012, were as follows: 76 Advances Fund To Other Funds From Other Funds General $ 717,909 $ - COIT 2,027,973 - TIF Airport 1,825,519 500,000 Other nonmajor governmental funds: Studebaker Oliver revitalization grants 500,000 - Economic development state grants - 362,338 Urban development action grant - 2,027,973 Industrial revolving 362,338 - Emergency medical services - 72,825 Football hall of fame - 717,909 Major moves 6,128,413 - TIF Douglas road - 959,191 TIF Northeast residential - 5,169,222 Total - other nonmajor governmental funds 6,990,751 9,309,458 Total - governmental funds 11,562,152 9,809,458 Other nonmajor enterprise funds: Blackthorn golf course - 1,752,694 Total - all funds $ 11,562,152 $ 11,562,152 76 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) 3. Interfund Transfers Interfund transfers at December 31, 2012, were as follows: Fund General Park and recreation Public safety LOIT COIT EDIT TIF Airport Other nonmajor governmental funds: Motor vehicle highway DCI operating Leaf collection and removal College football hall of fame debt service Redevelopment bond - central development Redevelopment bond - airport taxable Redevelopment bond - palais royale Redevelopment authority debt service South Bend building corporation debt service TIF Erskine village debt service Emergency medical services Paris nonreverting capital Cumulative capital development Cumulative, capital improvement TIF downtown TIF No. 1 - southside development TIF No. 2 - southside development TIF No. 3 - southside deWopment Football hall of fame capital TIF - northeast residential Edy street commons construction Total - nonmajor governmental funds Total - governmental funds Water Utility Wastewater Utility Other nonmajor enterprise funds: Blackthorn golf course Total - enterprise funds Total - all funds 77 Transfers From Other Funds To Other Funds $ 9,596,758 $ 332,120 616,596 185,747 175,436 5,476,534 - 1,642,136 - 4,502,146 662,607 1,945,250 2,661,992 1,527,146 - 240,000 93,040 - 834 825,509 - 5,014 - 7,414 4,861,591 81,182 2,319,168 - 149,809 - - 1,000,000 135,747 - 43,768 - - 402,277 912,497 674,569 1,401,397 - - 1,401,397 - 149,809' 156,684 - - 307,500 3,343 2,310,088 14,317,016 25,368,413 651.500 7,404,759 21,488,692 1,468,339 2,405,289 657,593 651,500 4,531,221 $ 26,019,913 $ 26,019,913 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) The primary government typically uses transfers to fund ongoing operating subsidies. F. Leases 1. Operating Leases The primary government has entered into various operating leases having initial or remaining noncancelable terms exceeding one year for golf cart global positioning systems, vehicles, . copiers, and office space. Rental expenditures for these leases were $242,036. The following is a schedule by years of future minimum rental payments as of December 31, 2012: Year Ended Annual December 31 Payment 2013 $ 263,208 2014 173,631 2015 82,084 2016 82,084 2017 77,074 Total $ 678,081 2. Capital Leases The primary government has entered into various capital leases for various types of equipment, and two parking garages. The parking garage capital leases are being repaid from governmental funds. Future minimum lease payments and present values of the net minimum lease payments under these capital leases as of December 31, 2012, are as follows: Governmental Business -Type Activities Activities 2013 $ 2,033,673 $ 943,413 2014 1,882,001 861,204 2015 1,862,108. 781,586 2016 1,397,136 , 640,729 2017 654,014 557,687 2018 -2022 1,000,000 - 2023 -2027 600,000 - Total minimum lease payments 9,428,932 3,784,619 Less amount representing interest 1,092,812 143,257 Present value of net minimum lease payments $ 8,336,120 $ 3,641,362 78 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS _(Continued) Assets acquired through capital leases still in effect are as follows: G. Long -Term Liabilities 1. Mortgage Bonds Mortgage Bonds outstanding at year end are as follows: Interest Original Purpose Rates Issue Governmental Activities 2010 Public Works Service Center Refunding - maturity February 1, 2021 - installments of $465,000 to $640,000 plus interest 2012 New Fire Station /Police Renovations Refunding - maturity February 1, 2023 - installments of $545,000 to $770,000 plus interest Total - governmental activities Business -Type Activities 2010 Public Works Service Center Refunding - maturity February 1, 2021 - installments of $465,000 to $640,000 plus interest 79 Outstanding 3.0% to 5.01/a $ 5,327,775 $ 4,288,530 2.1% to 5.0% 13, 595, 000 13, 595, 000 $ 18,922,775 $ 17,883,530• 3.0% to 5.0% $ 747,225 $ 601,470 Governmental Business -Type ActiVltieS Activities Buildings $ - $ 4,115,612 Improvements other than buildings 1,458, 939 - Machinery and equipment 7,977,461 2,336,142 Totals 9,436,400 6,451,754 Accumulated depreciation 2,527,482 2,273,563 Totals $ 6,908,918 $ 4,178,191 G. Long -Term Liabilities 1. Mortgage Bonds Mortgage Bonds outstanding at year end are as follows: Interest Original Purpose Rates Issue Governmental Activities 2010 Public Works Service Center Refunding - maturity February 1, 2021 - installments of $465,000 to $640,000 plus interest 2012 New Fire Station /Police Renovations Refunding - maturity February 1, 2023 - installments of $545,000 to $770,000 plus interest Total - governmental activities Business -Type Activities 2010 Public Works Service Center Refunding - maturity February 1, 2021 - installments of $465,000 to $640,000 plus interest 79 Outstanding 3.0% to 5.01/a $ 5,327,775 $ 4,288,530 2.1% to 5.0% 13, 595, 000 13, 595, 000 $ 18,922,775 $ 17,883,530• 3.0% to 5.0% $ 747,225 $ 601,470 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Mortgage bonds at year end include the following amounts of unamortized bond discount (premium) and unamortized loss (gain) on refunding: 2. Revenue Bonds The primary government issues bonds to be paid by income derived from the acquired or constructed assets.. Revenue bonds outstanding at year end are as follows:. Interest Original Outstanding Purpose Rates Issue 12 -31 -12 Gowrnmental Activities: Tax Incremental Financing Revenue Bonds: 2002 TJX Special Taxing District - maturity January 1, 2022 - installments of $295,000 to $500,000 plus interest 2003 Amended Airport TIF, Refunding - maturity February 1, 2025 - installments of $254,036 to $530,000 plus interest 2003 Amended Downtown TIF Refunding - maturity February 1, 2025 - installments of $260,000 to $935,000 plus interest 3,0% to 4.75 % $ 6,620,000 $ 3,750,000 4.0% to 5.20% 14,420,000 9,830,000 4.0% to 5.200% 19,795,000 , 17,230,000 Unamortized Balance at Discount Adjusted Purpose December 31 (Premium) Balance Governmental Activities 2010 Public Works Service Center Refunding $ 4,288,530 $ (112,841) $ 4,401,371 2012 New Fire Station /Police Renovations Refunding 13,595,000 (1,236,364) 14,831,364 Total Governmental Activities $ 17,883,530 $ (1,349';205) $19,232,735 Business -Type Activities 2010 Public Works Service Center Refunding $ 601,470 $ 10,486 $ 611,956 Mortgage debt service requirements to maturity are as follows: Year Ended Governmental Activities Business -Type Activities December 31 Principal Interest Principal Interest 2013 $ 1,672,885 $ 552,343 $ 62,115 $ 20,729 2014 1,580,425 573,724 64,575 17,912 2015 1,637,965 517,405 67,035 15,956 2016 1,691,120 464,859 68,880 13,927 2017 1,744,275 409,927 70,725 11,807 2018 -2022 8,786,860 1,075,931 268,140 21,159 2023 -2027 770,000 9,625 - - Totals $ 17,883,530 $ 3,603,814 $ 601,470 $ 101,490 2. Revenue Bonds The primary government issues bonds to be paid by income derived from the acquired or constructed assets.. Revenue bonds outstanding at year end are as follows:. Interest Original Outstanding Purpose Rates Issue 12 -31 -12 Gowrnmental Activities: Tax Incremental Financing Revenue Bonds: 2002 TJX Special Taxing District - maturity January 1, 2022 - installments of $295,000 to $500,000 plus interest 2003 Amended Airport TIF, Refunding - maturity February 1, 2025 - installments of $254,036 to $530,000 plus interest 2003 Amended Downtown TIF Refunding - maturity February 1, 2025 - installments of $260,000 to $935,000 plus interest 3,0% to 4.75 % $ 6,620,000 $ 3,750,000 4.0% to 5.20% 14,420,000 9,830,000 4.0% to 5.200% 19,795,000 , 17,230,000 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Purpose Govemmental Activities (continued): 2005 Southside TIF - maturity February 1, 2027 - installments of $165,000 to $465,000 plus interest 2011 S Career Academy Project - maturity November 15, 2014 - installments of $500,000 plus interest Redevelopment Authority Revenue Bonds: 2008 Eddy Street Common Improvements - maturity February 15, 2033 - installments of $145,000 to $1,420,000 plus interest 2008 Century Center Improvements - maturity May 1, 2028 - installments of $155,000 to $375,000 plus interest* 2009 Moms Performing Arts Center Refinancing - maturity February 1, 2017 -installments of $400,000 to $515,000 plus interest 2011 Hall of Fame Refinancing - maturity February 1, 2018 - installments of $550,000 to $615,000 plus interest 2011 Century Center Refinancing - maturity February 1, 2018 - installments of $215,000 to $260,000 plus interest CEDIT Revenue Bonds: 2006 CEDIT Refinancing Bonds - maturity February 1, 2017 - installments of $310,000 to $430,000 plus interest Professional Sports /Convention Development Revenue Bonds: 2010 Taxable - maturity January 5, 2019 - installments of $580,000 to $670,000 plus interest Interest Original Outstanding Rates Issue 12 -31 -12 6.1% to 6.75% 5,485,000 4,660,000 4.0% 1,500,000 1,000,000. 4.0% to 6.0% 36,000,000 34,950,000 4.0% to 5.63% 4,655,000 4,165,000 3.0% to 4.0% 7,210,000 4,270,000 .8% to 3.65% 7,580,000 6,400,000 2.0% to 3.0% 2,980,000 2,505,000 3.75% to. 4% 7,440,000 3,535,000 1.75% to 5.21/o 4,980,000 4,115,000 Total Governmental Activities $ 118,665,000 $ 96,410,000 *St. Joseph County has irrevocably pledged hotel -motel tax revenues to finance debt payments Business -Type Activities: 2006 Water Works Improvement 4.25% to 4.50% 4,710,000 3,700,000 - maturity January 1, 2027 - installments of $170,000 to $350,000 plus interest 2009 Water Works Improvement 3.8% to 5.89% 5,380,000 5,185,000 - maturity January 1, 2030 - installments of $195,000 to $455,000 plus interest 2012 Water Works Improvement 2.0% 3,785,000 3,785,000 - maturity January 1, 2023 - installments of $335,000 to $425,000 plus interest 2012B Water Works Improvement 2.0% to 3.7% 8,300,000 8,300,000 - maturity January 1, 2033 - installments of $340,000 to $540,000 plus interest 2004 Sewage Works Improvement 2.5% to 4.75% 11,425,000 7,980,000 - maturity December 1, 2024 - installments of $450,000 to $860,000 plus interest 2006 Sewage Works Improvement 3.6% to 4.625% 7,630,000 6,425,000 - maturity December 1, 2026 - installments of $295,000 to $630,000 plus interest 2007A Sewage Works Improvement 4.0% to 4.5% 16,600,000 13,670,000 - maturity December 1, 2027. - installments of $585,000 to $1,225,000 plus interest 20078 Sewage Works Improvement 4.0% to 4.5% 16,515,000 13,615,000 - maturity December 1, 2027 - installments of $580,000 to $1,230,000 plus interest 81 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Business -Type Activities (continued): 2010 Sewage Works Revenue - maturity December 1, 2030 - installments of $365,000 to $665,000 plus interest 2011 Sewage Works Revenue - maturity December 1, 2031 - installments of $365,000 to $665,000 plus interest 2012 Sewage Works Revenue - maturity December 1, 2032 - installments of $1,105,000 to $1,650,000 plus interest 1998 Blackthom Golf Course Refinancing — maturity March 1,2013 - installments of $540,000 to $620,000 plus interest Total Business -Type Activities Interest Original Outstanding Rates Issue 12 -31 -12 2.0% to 4.5% 9,345,000 8,630,000 3% to 4% 21,500,000 20,740,000 2% to 2.751% 25,000,000 25,000,000 3.25% to 4.8% 6,135,000 620,000 $ 136,325,000 $ 117,650,000 The City has pledged future revenues, net of operating expenses to repay water and wastewater utilities' bonds. Bond ordinances require monthly deposits of a portion of user fee revenues sufficient to meet requirements of the next principal, interest, and bank fiscal charge. payment. Water and wastewater bond ordinances also require monthly deposits of user fee revenues over 60 months to produce a bond reserve equal to approximately the maximum annual debt service. During 2012, the Water Utility paid $5,440,635 in debt payments or approximately 38 percent of operating revenues. The Wastewater Utility paid $8,314,808 in debt payments or approximately 27 percent of operating revenues. The City has pledged tax incremental financing revenues to meet tax incremental financing and Redevelopment Authority, including the Blackthorn Golf Course, debt requirements. The City has pledged county economic development income taxes (CEDIT) to meet the CEDIT revenue bond debt requirements, The City has also pledged taxes in the Professional Sports and Convention Development (PSCD) Area to meet the PSCD revenue bonds. Revenue bonds at year end include the following amounts of unamortized bond discount (premium) and unamortized loss (gain) on refunding: Governmental Activities: Tax Incremental Financing Revenue Bonds: .2002 TJXSpecial Taxing District 2003 Amended Airport TIF Refunding 2003 Amended Downtown TIF Refunding 2005 Southside'i1F 2011 8 Career. Academy Project Redevelopment Authority Rewnue.Bonds: 2008 Eddy Street Common Improvements 2008 Century Center Improvements 2009 Morris Performing Arts Center Refinancing 2011 Hall of Fame Refinancing 2011 Century Center Refinancing CEDIT Revenue Bonds: 2006 CEDIT Refinancing Bonds Professional Sports /Convention Development Revenue Bonds: 2010 Taxable Total Governmental Activities 82 3,535,000 (1,9, 938) 3,554,938 4,115, 000 - 4,115, 000 $ 96, 410, 000 $ (1,345,566) $ 97, 755, 566 Unam ortized Balance at Discount Adjusted December 31 (Premium) Balance $ 3,750,000 $ 32,251 $ 3,717,749 9,830,000 - 9,830,000 17, 230, 000 - 17, 230, 000 4,660,000 46,129 4,613,871 1,000,000 - 1,000,000 34,950,000 (1,407,218) 36,357,218 4,165,000 71,486 4,093,514 4,270,000 (45, 534) 4,315,534 6,400,000 - 6,400,000 2,505,000 (22,742) 2,527,742 3,535,000 (1,9, 938) 3,554,938 4,115, 000 - 4,115, 000 $ 96, 410, 000 $ (1,345,566) $ 97, 755, 566 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Purpose Business -Type Activities: 2006 Water Works Imprc,,ement 2009 Water Works Improvement 20128 Water Works Improvement 2012 Water Works Improvement 2004 Sewage Works Improvement 2006 Sewage Works Impro\,ement 2007A Sewage Works Impro\,ement 2007B Sewage Works Impro\jement 2010 Sewage Works Revenue 2011 Sewage Works Revenue 2012 Sewage Works Re\enue 1998 Blackthom Golf Course Refinancing Total Business -Type Activities $ 117, 650, 000 $ (398, 776) $ 118, 048, 776 Revenue bonds debt service requirements to maturity are as follows: Unamortized Year Ended Balance at Discount Adjusted December 31 (Premium) Balance 3,700,000 16,414 0,683,586 5,185, 000 - 5,185, 000 3,785,000 36,700 3,748,300 8,300,000 75,165 8,224,835 7,980,000 (142,414) 8,122,414 6,425,000 (33,280) 6,458,280 13,670,000 (12,303) 13,682,303 13, 615, 000 (79, 865) 13, 694, 865 8,630,000 (171,605) 8,801,605 20, 740, 000 106,643 20, 633, 357 25, 000, 000 (196, 371) 25,196, 371 620,000 2,140 617,860 $ 117, 650, 000 $ (398, 776) $ 118, 048, 776 Revenue bonds debt service requirements to maturity are as follows: Year Ended Governmental Activities Business -Type Activities December 31 Principal Interest Principal Interest 2013 $ 7,615,000 $ 4,597,524 $ 6,065,000 $ 4,228,142 2014 7,950,000 4,326,765 5,595,000 4,059,402 2015 7,720,000 4,034,845 5,750,000 3,882,080 2016 8,030,000 3,728',416 5,925,000 3,698,067 2017 71380,000 3,396,357 6,120, 000 3,501,917 2018 -2022 25,290,000 12,809,615 34,045,000 14,183,201 2023 -2027 18,495,000 6,517,120 35,480,000 7,462,922 2028 -2032 12,510,000 2,511,806 18,670,000 1,743,203 2033 -2037 1,420,000 42,600 - - Totals $ 96,410,000 $ 41,965,048 $ 117,650,000 $ 42,758,934 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) 3. Notes and Loans Payable The primary government has entered into various notes /loans. Annual debt service requirements to maturity for the notes /loans are as follows: Year Ended December 31 Governmental Activities Principal 2013 $ 1,653,864 $ 2014 1,684,986 2015 979,720 2016 239,741 2017 156,919 2018 -2022 238,409 2023 -2027 - 2027 -2031 $ - $ Totals $ 4,953,639 $ 4. Bond Refunding Interest Business -Type Activities Principal Interest 122,654 $ 1,763,877 $ 401,003 80,555 1,849,662 349,365 36,443 1,885,765 296,303 19,655 1,940,456 241,661 10,357 1,995,426 185,435 13,627 3,048,281 349,838 283,291 1,151, 225 132,988 214,209 7,346 $ 13, 848, 901 $ 1,963,939 On September 27, 2012, the City of South Bend issued $13,595,000 in refunding mortgage bonds with an average interest rate of 3.78 percent to refund $13,985,000 of outstanding 2003 New Fire Station /Police Renovation mortgage serial bonds with an average interest rate of 4.89 percent. The net proceeds of $14,576,753 (after payment of $254,611 in issuance costs and $1,236,364 bond premium) and local contributions of $40,760 were used to purchase U.S. government securities. Those securities were deposited in an irrevocable trust with an escrow agent to provide for future debt service payments on the 2003 series bonds. As a result, the 2003 bonds are considered to be defeased and the liability for those bonds has been removed from the Statement of Net Position. The refunding resulted in the accounting loss of $310,468, which has been recognized on the Statement of Net Position as deferral of loss on refunding. This amount will be amortized using the straight -line method and charged to interest expense over the next 11 years. The City, in effect, reduced its aggregate debt service payment by $1,514,992 over the next 11 years and realized an economic gain (difference between the present values of the old and new debt service payments) of $1,326,956. On November 19, 2012, the City of South Bend issued $3,785,000 in refunding waterworks revenue bonds with an average interest rate of 2.0 percent to refund $3,945,000 of outstanding 2002 waterworks revenue serial bonds with an average interest rate of 4.79 percent. The net proceeds of $3,706,700 (after payment of $78,300 in issuance costs) and local contributions of $369,279 were used to purchase U.S. government securities. Those securities were deposited in an irrevocable trust with an escrow agent to provide for future debt service payments on the 2002 series bonds. As a result, the 2002 bonds are considered to be defeased and the liability for those bonds has been removed from the Statement of Net Position. The refunding resulted in the accounting loss of $26,874, which has been recognized on the Statement of Net Position as deferral of loss on refunding. This amount will be amortized using the straight -line method and charged to interest expense over the next 10 years. The City's Water Utility, in effect, reduced its aggregate debt service payment by $514,153 over the next 10 years and realized an economic gain (difference between the present values of the old and new debt service payments) of $444,521. 84 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) 5. Changes in Long -Term Liabilities Long -term liability activity for the year ended December 31, 2012, was as follows: Primary Government Go\/ammental activities: Bonds payable: Revenue Mortgage Total bonds payable Notes and loans payable Capital leases Compensated absences Net other postemployment benefits obligation Net pension obligation Due Beginning Ending Within Balance Additions Reductions Balance One Year $ 1.01, 472, 431 $ 1,500,000, $ 6,562,431 $ 96, 410, 000 $ 7,615,000 19,724,490 13,595,000 15,435,960 17,883,530 1,672,885 121,196,921 15,095,000 21,998,391 114,293,530 91287,885 4,431,871 1,700,000 1,178,232 4,953,639 1,653,864 7,510,749 2,460, 897 1,635,526 8,336,120 1,785,051 4,959,163 3,782,559 3,625,397 5,116, 325 3,782,559 5,384,213 - - 5,384,213 - 62,890,433 209,585 - 63,100,018 - Total govemmental activities long -term liabilities $ 206,373,350 $ 23,248,041 $ 28,437,546 $ 201,183,845 $ 16,509,359 Total business -type activities long -term liabilities $ 105,935,544 $ 40,032,745 $ 10,226,556 $ 135,741,733 $ 8,360,103 Compensated absences for governmental activities typically, have been liquidated from the General Fund and special revenue funds. All of the December 31, 2012, business -type activities' compensated absences are due within one year. Net pension obligation will be liquidated from the pension trust funds. Net OPEB obligation will be liquidated from the general fund. H. Segment Information The primary government issued revenue bonds to finance Blackthorn Golf Course improvements. Investors in the revenue bonds rely solely on the revenue generated by the individual activities for repayment. Summary financial information for the Blackthorn Golf Course is presented below. Due Beginning Ending Within Primary Government Balance Additions Reductions Balance One Year Business -type activities: Revenue bonds payable: Water Utility $ 13,210,000 $ 12,085,000 $ 4,325,000 $ 20,970,000 $ 1,070,000 Wastewater Utility 74,235,000 25,000,000 3,175,000 96,060,000 4,375,000 Blackthorn Golf Course 1,210,000 - 590,000 620,000 620,000 Total revenue bonds payable 88,655,000 37,085,000 8,090,000 117,650,000 6,065,000 Mortgage bonds payable 660,510 - 59,040 601,470 62,115 Capital leases payable 1,077,662 2,912,919 349,219 3,641,362 469,111 Notes and loans payable: 15,542,372 34,826 1,728,297 13,848,901 1,763,877 Total business -type activities long -term liabilities $ 105,935,544 $ 40,032,745 $ 10,226,556 $ 135,741,733 $ 8,360,103 Compensated absences for governmental activities typically, have been liquidated from the General Fund and special revenue funds. All of the December 31, 2012, business -type activities' compensated absences are due within one year. Net pension obligation will be liquidated from the pension trust funds. Net OPEB obligation will be liquidated from the general fund. H. Segment Information The primary government issued revenue bonds to finance Blackthorn Golf Course improvements. Investors in the revenue bonds rely solely on the revenue generated by the individual activities for repayment. Summary financial information for the Blackthorn Golf Course is presented below. CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Condensed Statement of Net Position Assets: Current assets $ 63,703 Restricted assets 754,268 Capital assets 2,466,915 Total assets $ 3,284,886 Deferred outflows of resources`: Unamortized loss on refunding $ 3,528 Liabilities_ Current liabilities $ 1,911 Restricted liabilities 678,295 Noncurrent liabilities 1,858,624 Total liabilities $ 2,538,830 Net position: Investment in capital assets $ 1,693,942 Restricted 543,914 Unrestricted (1,488,272) Total net position $ 749,584 Condensed Statement of Revenues, Expenses, and Changes in Net Position Operating revenues $ 1,669,372 Depreciation expense (158,750) Other operating expenses (1 ,623,754) Operating loss (113,132) Nonoperating revenues (expenses): Investment earnings 2,352 'Interest expense (59,494) Transfers in 651,500 Transfers out (657,593) Change in net position (176,367) Beginning net position - restated _ 925,951 Ending net position $ 749,584 :.. CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Condensed Statement of Cash Flows Net cash provided (used) by Operating activities $ 45,412 Noncapital financing activities (6,093) Capital and related financing activities (687,972) Investing activities 468,321 Net decrease Beginning cash and cash equivalents Ending cash and cash equivalents (180, 332) $ 596,671 I. Restricted Assets The balances of restricted asset accounts in the enterprise funds are as follows: Cash, cash equivalents, and investments Repair funds $ 1,160,097 Customer deposits 1,408,791 Revenue bond covenant accounts 17,696,487 Capital outlay accounts 53,674,064 Cash with fiscal agent 1,936,128 Interest receivable 39,131 Total restricted assets $ 75,914,698 J. Restatements and Reclassifications The following schedule presents a summary of restated beginning balances. Balance Prior as Reported Period December 31, Adjustments/ Opinion Unit Governmental activities - net position Correct overstated property tax receivable GASB 65 - eliminate deferred charges Capital asset corrections Business -type activities - net position GASB 65 - eliminate deferred charges Capital asset corrections Governmental funds (nonmajor) fund balance Correct overstated property tax receivable Property held for resale restated 87 $ 293,063,546 $ 164,401,329 196,234,076 Balance as Restated January 1,, 2012 (4,424,204) (1,651,410) 903,735 287,891,667 (1,806,683) (460, 024) 162,134, 622 (4,424,204) 1,595,000 193, 404, 872 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Balance as Reported December 31, nion Unit 2011 Water Utility - net position 53,993,785 GASB 65 - eliminate deferred charges as Restated Wastewater Utility - net position 81,338,392 GASB 65,- eliminate deferred charges 2012 Capital asset corrections (755,200) Century Center - net position 18,343,247 Capital asset corrections 62,257 Proprietary funds (other nonmajor enterprise) - net 10,725,905 position GASB 65 - eliminate deferred charges (5,058) K. Loss on Sale /Leaseback of Leighton Parking Garage Prior Balance Period as Restated Adjustments/ January 1, Reclassifications 2012 (755,200) 53,238,585 (1,046,425) 62,257 80,354,224 (522,281) 17,820,966 (5,058) 10,720,847 During 2000, the City completed construction of the Leighton Parking Garage and capitalized the cost of the garage, $11,439,712, in the Parking Garage Fund, an enterprise fund. On December 1, 2000, the City sold the garage to the South Bend Transportation Company (TRANSPO) for $3,000,000 as part of a sale /leaseback agreement. The proceeds were receipted into the County Option Income Tax Fund. This fund is also making the future lease payments to TRANSPO. The present value of the lease, $1,960,044, was the new basis for the parking garage. As part of this sale /leaseback, the Parking Garage Fund recognized a deferred loss of $8,439,712, which is being amortized over.the 15 year life of the lease. L. Property Held for Resale The City's Redevelopment Commission has purchased properties in blighted areas for redevelop- ment and subsequent resale. "At December 31, 2012, the market value of these properties was not known. These properties are recognized as assets in the funds that purchased the property. IV. Other Information A. Risk Management The primary government is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; job related illnesses or injuries to employees; medical benefits to employees, retirees, and dependents; and natural disasters. The risks of torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters are covered by commercial insurance from independent third parties. Settled claims from these risks have not exceeded commercial insurance coverage for the past three years. There were no significant reductions in insurance by major category of risk. ..� CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Liability Insurance The primary government has chosen to establish a risk financing fund for risks associated with job related illnesses or injuries to employees, automobile liability, and comprehensive liability. The risk financing fund is accounted for in the Liability Insurance Premium Reserve Fund, an internal service fund, where assets are set aside for claim settlements. An excess policy through commercial insur- ance covers individual claims in excess of $350,000 per claim for job related illnesses or injuries to employees (workers' compensation) and $100,000 per claim for damage to and destruction of assets (property damage). One claim resulting from property damage exceeded commercial insurance coverage in the past three years. The claim occurred during 2012 and the gross claim cost is not complete, but estimated to be $275,000. A premium is charged to each fund based on a study of paid claims and based on the number of employees and percent of the total budget. Provisions are also made for unexpected and unusual claims. Claim expenditures and liabilities of the fund are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. These losses include an estimate of claims that have been incurred but not reported (IBNRs). Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends including frequency and amounts of pay outs and other economic and social factors. Changes in the balance of claim liabilities during the past two years are as follows: Unpaid claims, beginning of fiscal year Incurred claims and changes in estimates Claim payments Unpaid claims, end of fiscal year Group Health Insurance 2011 2012 $ 2,103,925 $ 2,255,972 2,070,065 5,155,318 1,918,018 1,826,814 $ 2,255,972 $ 5,584,476 The primary government has chosen to establish a risk financing fund for risks associated with medical benefits of employees and their covered dependents. The risk financing fund is accounted for in the Self- Funded Employee Benefits Fund, an internal service fund, where assets are set aside for benefit costs. An excess policy through commercial insurance covers individual claims in excess of $300,000 per year. One claim resulting from this risk exceeded commercial insurance coverage in the past three years. The claim occurred during 2011 and the gross claim cost was $564,932. A premium is charged to each fund based on the number of employees and estimated costs exceeding the employees' contributions. Provisions are also made for unexpected and unusual claims. Claim expenditures and liabilities of the fund are reported when it is probable that a loss has occurred and the amount of the loss can be reasonably estimated. These losses include an estimate of claims that have been incurred but not reported (IBNRs). Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends including frequency and amounts of pay outs and other economic and social factors. �:Z'] CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Changes in the balance of claim liabilities during the past two years are as follows: 2011 2012 Unpaid claims, beginning of fiscal year $ 424,689 $ 789,961 Incurred claims and changes in estimates 11,328,758 12,192,449 Claim payments 10,963,486 12,012,333 Unpaid claims, end of fiscal year $ 789,961 $ 970,077 The December 31, 2012, unpaid claims include $870,077 reported as current liabilities and expected to be paid within the current year. During 2005, the City's former employee medical benefits' administrator, Healthcare Resources Group (HRG), failed to pay $1,111,899 in health care claims for City employees. The City had paid HRG for the claims. HRG was purchased by another business that filed bankruptcy. Asset distribution, which amounted to approximately 19 percent, was made in August 2012, but erroneously paid to St. Joseph County. In May 2013; the County paid the asset distribution to the City. B. Subsequent Events On February 28, 2012, the City, the United States of America, and the State of Indiana, agreed to a consent decree to resolve claims against the City for alleged violations of the Clean Water Act. The decree includes several provisions, including a long -term control plan that requires the City to com- plete a construction program by December 31, 2031, at a cost of approximately $509.5 million in 2007 dollars to comprehensively upgrade and expand the City's sewage collection, storage, con- veyance, and treatment.system. At its April 2, 2013 meeting the City's Redevelopment Commission approved an early termination agreement with Robert Bosch LLC (Bosch) in which Bosch agrees to pay the City a lease termination penalty, $1,327,083 and repayment of improvements funded by the City, $746,072. The City received these amounts on April 26, 3013, into the TIF Airport fund, a major governmental fund. Also, Bosch will continue to repay, over time, the remaining balance on a loan with a December 31, 2012 balance of $538,508.13. On April 25, 2013, the City sold $14,765,000 2013A Sewage Works refunding bonds to refund the outstanding 1998 State Revolving Fund loan and 2004 sewage works bond issues, which had outstanding December 31, 2012 balances of $9,445,000 and $7,980,000, respectively. On February 28, 2013, the City's Redevelopment Commission approved a confidential settlement with Cooper Industries, LLC, the successor to the Studebaker Corporation related to environmental claims at the former Studebaker industry location. The estimated settlement is approximately $4.9 million, of which the City will receive two- thirds. On March 20, 2013, the City's Redevelopment Authority approved issuing revenue bonds not to exceed $5,100,000 to refund the outstanding 2008 Century Center Improvement revenue bonds which had an outstanding December 31, 2012 balance of $4,165,000. ., CITY OF. SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) On April 22, 2013, the City's Common Council approved entering into a lease with the South Bend Building Corporation, Inc., a significant blended component unit. The lease agreement requires the City make lease payments in annual amounts not to exceed $561,000. The Building Corporation will issued mortgage bonds, not to exceed $6,215,000, to finance a new City fire station #5 and a new City fire safety training center. C. Conduit Debt Obligation From time to time, the primary government has issued industrial revenue bonds to provide financial assistance to private- sector entities for the acquisition and construction of industrial and commercial facilities deemed to be in the public interest. The bonds are secured by the property financed and are payable solely from payments received on the underlying mortgage loans. Upon repayment of the bonds, ownership of the acquired facilities transfers to the private- sector entity served by the bond issuance. Neither the primary government, the State, nor any political subdivision, thereof is obligated in any manner for the repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying financial statements. As of December 31, 2012, there were several series of industrial revenue bonds outstanding. The City has been able to determine the aggregate principal amount payable is $19,642,337 for four outstanding industrial revenue bonds, but was unable to obtain the outstanding principal amount for eight other industrial revenue bonds. During. 2012, the City approved no new industrial revenue bonds. D: Other Postemployment Benefits (OPEB) Plan Description The City of South Bend Retiree Healthcare Plan is a single - employer defined benefit healthcare plan administered by the City of South Bend, Department of Administration and Finance, through the City's Self - Insurance Fund. The plan provides for medical insurance benefits to eligible retirees and their spouses. Indiana Code 5 -10 -8 gives the unit the authority to establish and amend the plan. The City issues a publicly available financial report that includes financial statements and required supplementary information for the plan. The report is available by contacting the City Controller's office: 227 West Jefferson Blvd. Rm. 1200N, South Bend, IN 46601, Ph. (574)235 -9216. Funding Policy The contribution requirements of plan members for the City of South Bend Retiree Healthcare Plan are established and can be amended by the City's. Common Council. The required contribution is based on projected pay -as- you -go financing requirements. For the year ended December 31, 2011, the date of the most recently completed actuarial study, the City contributed $703,134 to the plan for current premiums. Police and Fire members receiving benefits contributed approximately 30 percent of the total premiums, through their required contribution of $133 per month for retiree -only coverage and $395 for retiree and spouse coverage. General employee members receiving benefits contri- buted approximately 100 percent of the total premiums, through their required contribution of $346 per month for retiree -only coverage and $912 for retiree and spouse coverage, N CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Annual OPEB Cost and Net OPEB Obligation The City's annual other postemployment benefit (OPEB) cost (expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components of the City's annual OPEB cost for the year, the amount actually contributed to the plan, and changes in the City's net OPEB obligation to the plan: Annual required contribution $ 2,016,827 Interest on net OPEB obligation 186,226 Adjustment to annual required contribution (254,060) 43.1 Annual OPEB cost 1,948,993 Contributions made (703,134) Increase in net OPEB obligation 1,245,859 Net OPEB obligation — beginning of year 4,138,354 Net OPEB obligation —.end of year $ 5,384,213 The City's annual OPEB cost, the percentage of the annual OPEB cost contributed to the plan, and the net` OPEB obligation for 2011 and the two preceding years were as follows: Fiscal Annual Year OPEB Ended Cost Percentage of Annual OPEB Cost Contributed Net OPEB Obligation 12 -31 -09 $ 1,851,421 42.7% $3,095,203 12 -31 -10 1,834,037 43.1 4,138,354 12 -31 -11 1,948,993 36.1 5,384,213 Funded Status and Funding Progress As of December 31, 2011, the most recent actuarial valuation date, the plan was 0 percent funded. The actuarial accrued liability for benefits was $18,649,906, and the actuarial value of assets was $0, resulting in an unfunded actuarial accrued liability (UAAL) of $18,649,906. The covered payroll (annual payroll of active employees covered by the plan) was not available, and the ratio of the UAAL to covered payroll was not available. Actuarial valuations of an ongoing plan involve estimates of the value of reported amounts and assumptions about the probability of occurrence of events far into the future. Examples include assumptions about future employment, mortality, and the healthcare cost trend. Amounts determined regarding the funded status of the plan and the annual required contributions of the employer are subject to continual revision as actual results are compared with past expectations and new esti- mates are made about the future. CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Actuarial Methods and Assumption Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short -term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long -term perspective of the calculations. In the December 31, 2011 actuarial valuation, the entry age actuarial cost method was used: The actuarial assumptions included a 4.5 percent investment rate of return (net of administrative ex- penses), which is a blended rate of the expected long -term investment returns on plan assets and on the employer's own investments calculated based on the funded level of the plan at the valuation date, and an annual healthcare cost trend rate of 10.0 percent initially, reduced by decrements to an ultimate rate of 4.5 percent after 10 years. Both rates included a 4.5 percent inflation assumption. The UAAL is being amortized as a level dollar amount based on an open group. The remaining amortization period at December 31, 2011, was 30 years. E. Pension Plans 1. Agent Multiple - Employer and Single- Employer Defined Benefit Pension Plans a. Public Employees' Retirement Fund Plan Description The primary government contributes to the Indiana Public Employees' Retirement Fund (PERF), a defined benefit pension plan. PERF is an agent multiple - employer public employee retirement system, which provides retirement benefits to plan members and beneficiaries. All full -time employees are eligible to participate in the defined benefit plan. State statutes (IC 5 -10.2 and 5 -10.3) govern, through the Indiana Public Retirement System ( INPRS) Board, most requirements of the system and give the primary government authority to contribute to the plan. The PERF retirement benefit consists of the pension provided by employer contributions plus an annuity provided by the member's annuity savings account. The annuity savings account consists of member's contributions, set by state statute at 3 percent of compensation, plus the interest credited to the member's account. The employer may elect to make the contributions on behalf of the member. INPRS administers the plan and issues a publicly available financial report that includes financial statements and required supplementary information for the plan as a whole and for its participants. The report is available atwww,in.qov/inprs/2341.htm or maybe obtained by contacting: Indiana Public Retirement System One North Capital, Suite 001 Indianapolis, IN 46204 Ph. (888) 526 -1687 93 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS . (Continued) Funding Policy and Annual Pension Cost The contribution requirements of plan members for PERF are established by the Board of Trustees of INPRS. The primary government's annual pension cost and related information, as provided by the actuary, is presented in this note. Information to segregate the assets /liabilities and the actuarial study figures between the primary government and the Utilities is not available. Therefore, the Net Pension Asset is considered an obligation of the primary government and is presented in the governmental activities of the financial statements and is not presented as an asset of the proprietary funds. b. 1925 Police Officers' Pension Plan Plan Description The City contributes to the 1925 Police Officers' Pension Plan which is a single - employer defined benefit pension plan. The plan is administered by the local pension board as authorized by state statute (IC 36 -8 -6). The plan provides retirement, disability, and death benefits to plan members and beneficiaries. The plan was established by the plan administrator, as provided by state statute. The plan administrator does not issue a publicly available financial report that includes financial statements and required supplementary information of the plan. Funding Policy Plan members are required by state statute (IC 36- 8 -6 -4) to contribute an amount equal to 6 percent of the salary of a first class patrolman. The contribution requirements of plan members are established by state statute. The primary government's annual pension cost and related information, as provided by the actuary, is presented in this note. The Net Pension Obligation (NPO) is considered an obligation of the City and is reflected in the Statement of Net Position, The State of Indiana is required by Statute to reimburse the City for benefits paid and has contributed $6,731,621 during 2012 on behalf of the City. The City has recognized these on behalf payments as intergovernmental revenue and public safety expenditures in the general fund. c. 1937 Firefighters' Pension Plan Plan Description The City contributes to the 1937 Firefighters' Pension Plan which is a single - employer defined benefit pension plan. The plan is administered by the local pension board as authorized by state statute (IC 36 -8 -7). The plan provides retirement, disability, and death benefits to plan members and beneficiaries. The plan was established by the plan administrator, as provided by state statute. The plan administrator does not issue a publicly available financial report that includes financial statements and required supplementary information of the plan. 94 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Funding Policy Plan members are required by state statute (IC 36- 8 -7 -8) to contribute an amount equal to 6 percent of the salary of a first class fireman. The contribution requirements of plan members are established by state statute. The primary government's annual pension cost and related information, as provided by the. actuary, is presented in this note. The Net Pension Obligation (NPO) is considered an obligation of the City and is reflected in the Statement of Net Position. The State of Indiana is required by Statute to reimburse the City for benefits paid and has contributed $5,233,388 during 2012 on behalf of the City. The City has recognized these on behalf payments as intergovernmental revenue and public safety expenditures in the general fund. Actuarial Information for the Above Plans 1925 Police 1937 Officers' Firefighters' PERF Pension Pension Annual required contribution $ 2,726,030 $ 6,986,200 $ 5,787,300 Interest on net pension obligation 138,565 2,110,300 1,544,400 Adjustment to annual required contribution (159,521) (2,858,700) (2,092,000) Annual pension cost 2,705,074 6,237,800 5,239,700 Contributions made 1,995,636 6,742,242 5,235,111 Increase (decrease) in net pension obligation 709,438 (504,442) 4,589 Net pension obligation, beginning of year 1,979,499 35,171,707 25,739,227 Net pension obligation, end of year $ 2,688,937 $ 34,667,265 $ 25,743,816 1925 Police 1937 Officers' Firefighters' PERF Pension Pension Contribution rates: City Plan members Actuarial valuation date Actuarial cost method Amortization method Amortization period Amortization period (from date) Asset valuation method 7.88% 3% 06 -30 -12 Entry age Level percentage of projected payroll, closed 30 years 07 -1 -97 4 -year smoothing of gains /losses on market value with a 20% corridor 95 1,656% 6% 01 -01 -12 Entry age Level percentage of projected payroll, closed 30 years 01 -01 -05 4 year phase in of unrealized and realized capital 1,583% 6% 01 -01 -12 Entry age Level percentage of projected payroll, closed 30 years 01 -01 -05 4 year phase in of unrealized and realized capital CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Actuarial Assumptions Investment rate of return Projected future salary increases: Total Cost -of- living adjustments 1 % 3.25% 3.25% Cost -of- living adjustments (converted) 1% 2.25% 2.25% For financial reporting purposes the projection of benefits for these plans does not explicitly incorporate the potential effects of the legal limit on employer contributions disclosed. Three Year Trend Information PERF 1925 Police 1937 Net Officers' Firefighter' PERF Pension Pension (APC) _ Contributed 6.75% 6% 6% 3.25% to 3.25% 3.25% 4.5% 78% $ 1,039,079 Cost -of- living adjustments 1 % 3.25% 3.25% Cost -of- living adjustments (converted) 1% 2.25% 2.25% For financial reporting purposes the projection of benefits for these plans does not explicitly incorporate the potential effects of the legal limit on employer contributions disclosed. Three Year Trend Information PERF .M Annual Percentage Net Pension Cost of APC Pension Year Ending (APC) _ Contributed Obligation 12 -31 -10 $ 6,040,600 96% $ 34,932,097 06 -30 -10 $ 1,907,328 78% $ 1,039,079 06 -30 -11 2,543,982 63% 1,979,499 06 -30 -12 2,705,074 74% 2,688,937 1925 Police Officers' Pension Percentage .M Annual Percentage Net Pension Cost of APC Pension Year Ending (APC) Contributed Obligation 12 -31 -10 $ 6,040,600 96% $ 34,932,097 12 -31 -11 6,726,600 96% 35,171,707 12 -31 -12 6,237,800 108% 34,667,265 1937 Firefighters' Pension Plan Annual Percentage Net Pension Cost of APC Pension Year Ending (APC) Contributed . Obligation 12 -31 -10 $ 5,353,200 97% $ 25,292,196 12 -31 -11 5,971,600 93% 25,739,227 12 -31 -12 5,239,700 100% 25,743,816 .M CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Membership in the 1925 Police Officers' Pension Plan and the 1937 Firefighters' Pension Plan at January 1, 2012, was comprised of the following: 1925 Police 1937 Officers' Firefighters' Pension Pension Retires and beneficiaries currently receiving benefits 239 201 Terminated employees entitled to BUT not yet receiving benefits - - Current active employees 3 7 Funded Status and Funding Progress for the Above Plans The funded status of each plan as of July 1, 2012, the most recent actuarial valuation date (except 1925 Police Officers' and 1937 Firefighters' pension funds which is as of January 1, 2012) is as follows: Unfunded Actuarial AAL as a Actuarial Actuarial Accrued Annual Percentage Valuation Value of Liability (AAL) Unfunded Funded covered of Covered Retirement Plan Date Plan Assets Entry Age AAL Ratio Payroll Payroll PERF 06 -30 -12 $ 19,348,101 $ 40,445,286 $ (21,097,185) 47.8% $ 25,533,046 (83)% 1925 Police 011cers' 01 -01 -12 2,166,759 84,884,700 (82,717,941) 2.55% 421,800 (19,611)% 1937 Firefighters' 01 -01 -12 1,718,166 70,308,800 (68,590,634) 2.44% 365,500 (18,766)% The Schedules of Funding Progress, presented as RSI for the above plans following the notes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets is increasing or decreasing over time relative to the actuarial accrued liability for benefits. d. Financial Statements for Defined Benefit Plans Statements of Fiduciary Net Position Assets Cash and cash equivalents Investments Receivables: Interest Total assets 97 1925 Police 1937 Officers' Firefighters' Pension Pension $ 873,828 $ 510,174 1,434, 957 837,783 1,825 1,066 2,310,610 1,349,023 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) Liabilities Accounts payable Accrued payroll payable Total liabilities Net Position Net position held in trust for pension benefit obligations 1925 Police 1937 Officers' Firefighters' 88 72 620 88 692 $ 2,310,522 $ 1,348,331 Statements of Changes in Fiduciary Net Position 1925 Police 1937 Officers' Firefighters' Pension Pension Additions Contributions: On behalf Plan members Other Total contributions Investment income: Interest Total additions Deductions Benefits and refunds paid to plan members and beneficiaries Administrative expenses Total deductions .Changes in net position Net position - beginning Net position — ending • $ 6,731,620 $ 5,233,388 2,278 - 10,621 1,723 6,744,519 5,235,111 5,906 3,531 6,595,376 5,607,198 11,286 1,279 6,606,662 5,608,477 143,763 (369,835) 2,166, 759 1,718,166 CITY OF SOUTH BEND NOTES TO FINANCIAL STATEMENTS (Continued) 2. Cost- Sharing Multiple- Employer Defined Benefit Pension Plan 1977 Police Officers' and Firefighters' Pension and Disability Fund Plan Description The primary government contributes to the 1977 Police Officers' and Firefighters' Pension and Disability Fund, a cost - sharing multiple- employer defined benefit pension plan administered by the Indiana Public Employees' Retirement Plan (PERF) for all police officers and firefighters hired after April 30, 1977. State statute (IC 36 -8 -8 and IC 36- 8 -8.5) regulates the operations of the system, including benefits, vesting and requirements for contributions by employers and by employees. Covered employees may retire at age 52 with 20 years of service. An employee with 20 years of service may leave service, but will not receive benefits until reaching age 52. The plan also provides for. death and disability benefits. PERF issues a publicly available financial report that includes financial statements and required supplementary information for the plan as a whole and for its participants. That report may be obtained by contacting: Indiana Public Retirement System One North Capitol, Suite 001 Indianapolis, IN 46201 Phone (888) 526 -1687 Funding Policy and Annual Pension Costs Plan members are required to contribute 6 percent of the first -class police officers' and firefighters' salary and the primary government is to contribute at an actuarially determined rate. The current rate, which has not changed since the inception of the plan, is 19.5 percent of the first -class police officers' and firefighters' salary. The contribution requirements of plan members and the primary government are established by the Board of Trustees of PERF. The primary government's contributions to the plan for the years ending December 31, 2012, 2011, and 2010, were $4,294,453, $4,187,175, and $4,344,470, respectively, equal to the required contributions for each year. • • Z O F � Q w g w O Z z w CL = z Z_ 0 j Z 0 2 = LL LL W LL }o ao r =) W U () 0 0 LU W Z) U o (n w x �_0 0) 0 6 C g 0 0 0 0 J O O N O U m 0 M see Q a d Q o a — co M Lr O 0 M M 0'0 M C6 O L d N N N O— a a a o L (OO(ov LL cr> CD Lo W L C J N Q (v (0 0) 7 M C:) C D N I� N 76 N Lo LL00 W N N N .T� C ` = J O Lo 0 j U Q Q COO 7 U U Q V zi Q Q J M 7 V rs� O W o O N CO = 7 N N N M v Q� Q N N 0) (fl 0 O N O j N O O O U 2 Q > O O O m a O .N (U IL 0 N 0 U 0 IL N O ID a 11) 2 O N cc � C (6 C 0 J O T Q c Q 2 U a m Q °) a o NO U d � o � LL N C J � ra@ D @ N T co c ` JJQ O U (0 Q U U J Q Q N O N Q N O CO+ 7 .2 ( Q m D M _M O O N n 0 0 (o m 2 0 0 0 0 0 0 000000 00 CO O O O 0 M COO CO LO 69 0 0 0 0 0 0 (O'7 - W N N lOO It M M N N C 00 O M O ^ 00r u07 NN N W 00 CO 00� h CO 0 Cl CO r (O n M � N ao ao `n, ao ao ao 0 0 0 0 0 0 O O O O O o 0 O O N N O 000 h CO O (o O V 00 00 00 00 00 00 69 I- N LO I- O (A O M O N LO LO O M P- CO O r 0 N O O r� (O 00 N V Cl (O 0 CO v! 0 M M N N CV N fA O O O O N � 0 0 0 0 0 0 0 0 0 0 0 0 Will N N .m„ U 0 0 0 0 0 o O N .CO. U e C N C "� CO O O 1� CO 0 � (0 C ,� J O O a COO M 0) 7 LO r ,� JQ O O@ p C C ? Q � U IL � o;t rn 2 - � U a IL o L o OOOOOCD C, "O — N 7 7 L O O O LO "O _ C 1 0 0007 CA IRO 0 O co (0 l6 `O•' 00 v! V M @ M C C U a - U d N V s9 rs 00) o a' -� to00(OCOO V 000 O N CO M V 7 (� O O O LL N CO CM N N N C O O O LL m O O CO M 7 00 M 0 I-- O M O r O M C.- CO V CO N N COO O "O J I- O V o0 O E -O J O> —7 O> N O CO N l00 O .� Q CO O C LO OD N I-- 00 a C n 06 D 0 CC's E D 69 V> w O V CT 0 °v °o rnrnod 00 co co � _ J OO rn C. uQ OC c cco N O O O 0 ` U @` 0 7 M M O U N O Q Q J (00 l00 r n r r Q Q J v s9 v� N O N O ' 1 ' w N N (O N O 7 CO N N N N N 000 L � CO 00 N N N O 7 N O 7 N C0 U@ N (o O N 0 U@ N ... Q> Q r N N N Q c Q V3 Vj C 0 j D N 0 O O O O O N C N co O 0 0 0 0 0 O O O O Q> Q� O O O U) W O = Q W O'n V fl� O O LL W F- Z z Z CO W O — CO 2 Q D Z H H m O Z:) Z U O LL wO w O J U 7- a W O O p UU) c/)Z p W Q J 6 W W } w U O U) a- W c co c O U) c m L m U O m U 0 a_ N T- O 00 _0 00 0) O O N .-. N � 0 O U 't N co r- L 4 r\ r- 0 00 00 0) 0 M U M M } N N 0 0 0 0 0 0 0 0 0 0 0 0 O 00 LO r-- T--- 00 N 70 N � L6 M ti Cfl -Fu N (d Q5 L (6 P-: Q5 Q O Q U � 101 c co a O cn C N d O L r` M O 00 r— 00 0) O O N .-. N CY) 0 O 45 U 't N co r- O L Q o N M r CO O r M O r 0 0 (fl 00 M M M M M M } N N N N N N uJ � � � � � � 101 c co a O cn C N d O L r` M O 00 _0 co I:t r- co O N .-. N CY) 0 O 45 U 't N CO M r- O L Q o N M r CO O r M O r o M 00 0 (fl 00 0 O 0) M co co U co >- N N a � U N uJ N 0 0 0 0 0 0 0 0 0 0 0 0 00 N co I:t r- co O N .-. N 0 0 U 't N CO M r- Q Q O co M co co U co >- N N � N N uJ I-- CO 0') O N 0 0 0 c 0 co M co co co co >- N N N N uJ N N O NO Continued on next page U CITY OF SOUTH BEND REQUIRED SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES GENERAL FUND AND MAJOR SPECIAL REVENUE FUNDS For The Year Ended December 31, 2012 General Fund Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Taxes: Property $ 39,950,000 $ 39,950,000 $ 39,368,431 $ (581,569) Licenses and permits 839,375 877,375 888,115 10,740 Intergovernmental 8,758,019 8,838,496 8,581,168 (257,328) Charges for services 3,984,005 3,782,005 3,580,554 (201,451) Fines and forfeits 25,920 25,920 34,931 9,011 Inter -fund Transfers 6,884,823 6,949,823 6,797,370 (152,453) Other 3,913,854 3,990,591 4,159,270 168,679 Total revenues 64 355,996 64,414,210 63,409,839 (1,004,371 Expenditures: Current: General Government: Mayor Personnel services 541,392 547,090 538,763 8,327 Supplies 34,359 35,858 28,726 7,133 Other services and charges 61,269 79,672 73,572 6,100 Capital outlay - 3,000 - 3,000. Other uses 2,448 2,448 2,448 - City Clerk Personnel services 270,743 270,743 256,385 14,358 Supplies 8,700 7,700 4,575 3,125 Other services and charges 58,258 59,258 39,229 20,029 Capital outlay 15,000 15,000 6,835 8,165 Other uses 120 120 120 - Common Council Personnel services 274,330 259,330 173,388 85,942 Supplies 10,996_ 10,996 5,928 5,068 Other services and charges 196,933 210,591 190,698 19,893 Capital outlay 14,000 14,000 11,848 2,152 Other uses 2,102 3,444 3,444 - Ad m i n i s trati o n /Finance Personnel services 1,746,778 1,606,401 1,341,064 265,337 Supplies 251,313 252,248 31,610 220,638 Other services and charges 214,966 216,251 201,391 14,860 Other uses 6,216 6,216 6,216 - City Attorney Personnel services 851,882 890,935 722,276 168,659 - Supplies . 1 10,200 10,200 7,759 2,441 Other services and charges 51,256 49,956 39,618 10,338 Capital outlay - 6,300 6,016 284 Other uses, 3,312 3,312 3,312 - Continued on next page U CD W CITY OF SOUTH BEND REQUIRED SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES GENERAL FUND AND MAJOR SPECIAL REVENUE FUNDS For The Year Ended December 31, 2012 (Continued) Continued on next page General Fund Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Expenditures (continued): Current (continued): General Government (continued): Human Rights: Personnel serv_ ices_ 236,229 236,229 231,914 4,315 Supplies 3,117 5,117 3,523 1,594 Other services and charges 35,682 56,307 38,635 17,672 Other uses 1,104 1,104 1,104 - Energy Office: Other services and charges - 149,064 149,064 Capital outlay - 323,175 323,175 - Neighborhood Code Enforcement: Personnel services 913,466 905,466 888,809 16,657 Supplies 74,664 91,664 68,034 3,630 Other services and charges 506,619 791,119 770,853 20,266 Other uses 56,764 56,764 56,764 - Code Hearing Officer: Other services and charges 40,000 48,000 46,231 1,769 Total General Government 6,494,218 7,225,079 6,293,327 931,752 Public Safety: ' Police Department: Personnel services 20,417,842 20,411,842 20,242,358 169,484 Supplies 1,357,464 1,433, 223 1,280,156 153,067 Other services and charges 3,192,678 3,264,800 3,081,094 183,706 Capital outlay - 124,824 123,220 1,604 Other uses 26,076 26,076 26,076 - Police - PS LOIT Funded: Personnel services 2,964,427 3,145,427 3,062,729 82,695 Communication Center: Personnel services 2,024,293 2,024,293 1,932,005 92,288 Supplies 4,029 4,029 2,358 1,671 Other services and charges 23,031 23,031 22,221 810 Other uses 444 444 444 - Fire Department: Personnel services 18,649,984 19,302,077 16,941,605 360,472 Supplies 616,135 598,213 537,341 60,872 Other services and charges 1,679,931 1,484,598 1,423,608 60,990 Other uses 8,064 8,064 8,064 - Fire - PS LOIT Funded: Personnel services 2,329,192 2,289,192 2,238,369 50,823 Continued on next page CD CITY OF SOUTH BEND REQUIRED SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES GENERAL FUND AND MAJOR SPECIAL REVENUE FUNDS For The Year Ended December 31, 2012 (Continued) Expenditures (continued): Current (continued): Public Safety (continued): Junk Vehicle: Personnel services Supplies Other services and charges Capital outlay Animal Control: Personnel services Supplies Other services and charges Capital outlay Other uses Total Public Safety Highways and Streets: Engineering: Personnel services Supplies Other services and charges Capital outlay Other uses Street Department: Personnel services Supplies Other services and charges Capital outlay Other uses Total Highways and Streets Culture and Recreation: Palais Royale Ballroom: Personnel services Supplies Other services and charges Capital outlay Other uses General Fund Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) 51,017 51,017 48,974 2,043 2,041 2,041 983 1,058 12,682 12,682 8,943 3,739 - 2,834 2,834 - 379,473 - 379,473 372,739 6,734 67,409 76,409 65,622 10,787 91,605 106,405 90,958 15,447 - 7,754 7,310 444 1,392 1,392 1,392 - 53,799,209 54,780,140 53,521,403 1258,737 1,309,973 1,294,716 1,103,197 191,519 17,125 20,578 17,311 3,267 506,784 593,814 557,990 35,824 5,000 18,726 8,399 10,327 37,152 37,152 35,784 1,368 116,542 116,542 116,490 52 473,304 660,864 585,866 74,998 94,855 111,658 84,120 27,538 - 7,816 7,616 - 684 684 684 - 2,561,419 2,862,550 2,517,657 344,893 198,995 196,995 179,691 19,304 12,200 12,991 8,607 4,384 194,924 210,756 158,700 52,056 8,250 8,250 5,056 3,194 720 720 720 - Continued on next page -3 Q cn CITY OF SOUTH BEND REQUIRED SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES GENERAL FUND AND MAJOR SPECIAL REVENUE FUNDS For The Year Ended December 31, 2012 (Continued) Economic Development: General Fund Unsafe Building: Variance Other services and charges 102,587 Actual With Final 38,980 Total Economic Development Budgetary Budget 68,704 Budgeted Amounts Basis Positive Original Final Amounts (Negative) Expenditures (continued): Net change in fund balances - (1,990,434) Current (continued): 1,703,957 Fund balances - beginning 27,954,076 27,954,076 Culture and Recreation (continued): - Fund balances - ending $ 27,954,076 $ 25,963,642 Morris Performing Arts Center: 1,703,957 Personnel services 627,852 627,852 616,536 11,316 Supplies 28,550 30,086 22,914 7,172 Other services and charges 323,532 336,001 299,461 36,540 Other uses 3,540 3,540 3,540 - Total Culture and Recreation 1,398,563 1,429,191 1,295,225 133,966 Economic Development: Unsafe Building: Other services and charges 102,587 107,684 68,704 38,980 Total Economic Development 102,587 107,684 68,704 38,980 Total expenditures 64,355,996 66,404,644 63,696,316 2,708,328 Net change in fund balances - (1,990,434) (286,477) 1,703,957 Fund balances - beginning 27,954,076 27,954,076 27,954,076 - Fund balances - ending $ 27,954,076 $ 25,963,642 $ 27,667,599 $ 1,703,957 Continued on next page CD CITY OF SOUTH BEND REQUIRED SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES GENERAL FUND AND MAJOR SPECIAL REVENUE FUNDS For The Year Ended December 31, 2012 (Continued) Revenues: Taxes: Property Intergovernmental Charges for services Fines and forfeits Other Total revenues Expenditures: - Current: Culture and recreation: Personnel services Supplies Other services and charges Other uses Capital outlay Total expenditures Other financing sources (uses): Transfers out Net change in fund balances Fund balances - beginning Fund balances - ending Park and Recreation Fund $ 7,900,000 $ 7,900,000 $ 7,824,055 $ (75,944) 1,216,659 1,188,549 1,192,722 4,173 3,060,000 3,110,000 3,100,651 (9,349) 1,000 1,000 1,555 555 177,988 184,588 156,401 (28,187) 12,355,647 12,384,137 12,275,385 • (108,752) 7,727, 881 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 7,900,000 $ 7,900,000 $ 7,824,055 $ (75,944) 1,216,659 1,188,549 1,192,722 4,173 3,060,000 3,110,000 3,100,651 (9,349) 1,000 1,000 1,555 555 177,988 184,588 156,401 (28,187) 12,355,647 12,384,137 12,275,385 • (108,752) 7,727, 881 7,567,231 7,443, 622 123,609 1,431,045. 1,714,275 1,654,686 59,589 1,980,962 2,110,473 2,036,760 73,713 206,268 206,268 204,408 1,860 818,991 701,456 607,448 94,008 12,165,147 12,299,703 11,946,924 352,779 (190,500) (191,726) (187,607) 4,119 - (107,292) 140,854 248,146 4,623,322 4,623,322 4,623,322 $ 4,623,322 $ 4,516,030 $ 4,764,176 $ 248,146 Continued on next page i O J CITY OF SOUTH BEND REQUIRED SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES GENERAL FUND AND MAJOR SPECIAL REVENUE FUNDS For The Year Ended December 31, 2012 (Continued) Revenues: Taxes: County option income tax Other Total revenues Other financing sources (uses): Transfers in Transfers out Total other financing sources (uses) Net change in fund balances Fund balances - beginning Fund balances - ending Public Safety LOIT Fund Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 5,293,619 $ 6,605,601 $ 6,605,601 $ - 3,000 8,000 8,296 296 5,296,619 6,613,601 6,613,897 296 - 175,436 175,436 - (5,293,619) (5,293,619) (5,476,534) (182,915) (5,293,619) (5,118,183) (5,301,098) (182,915) 3,000 1,495,418 1,312,799 (182,619) 1,677,142 1,677,142 1,677,142 $ 1,680,142 1 3,172,560 $ 2,989,941 $ (182,619) Continued on next page CITY OF SOUTH BEND REQUIRED SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES GENERAL FUND AND MAJOR SPECIAL REVENUE FUNDS For The Year Ended December 31, 2012 (Continued) Expenditures: (481,992) COIT Fund (481,992) - Net change in fund balances Current: 307,809 438,597 130,788 Variance 14,207,444 General government: 14,207 444 - Actual With Final $ 14,515,253 Supplies 15,000 Budgetary Budget 481 Budgeted Amounts Basis Positive 5,907,532 Original Final Amounts (Negative) Revenues: 3,942 Other uses 470,976 470,976 Taxes: County option income $ 6,458,586 $ 8,610,429 $ 8,610,742 $ 313 Other 966,268 834,817 833,223 (1,594) Total revenues 7,424,854 9,445,246 9,443,965 (1,281) Expenditures: (481,992) (481,992) (481,992) - Net change in fund balances Current: 307,809 438,597 130,788 Fund balances - beginning 14,207,444 General government: 14,207 444 - Fundbalances - ending $ 14,618,765 $ 14,515,253 Supplies 15,000 21,274 20,793 481 Other services and charges 5,770,565 6,035,178 5,907,532 127,646 Capital outlay 275,000 2,128,017 2,124,075 3,942 Other uses 470,976 470,976 470,976 Total expenditures 6,531,541 8,655,445 8,523,376 132,069 Other financing sources (uses): Transfers out (481,992) (481,992) (481,992) - Net change in fund balances 411,321 307,809 438,597 130,788 Fund balances - beginning 14,207,444 14,207,444 14,207 444 - Fundbalances - ending $ 14,618,765 $ 14,515,253 $ 14,646,041 $ 130,788 Continued on next page O CD CITY OF SOUTH BEND REQUIRED SUPPLEMENTARY INFORMATION BUDGETARY COMPARISON SCHEDULES GENERAL FUND AND MAJOR SPECIAL REVENUE FUNDS For The Year Ended December 31, 2012 (Continued) Revenues: Taxes: County economic development income tax Other Total revenues Expenditures: General government: Other services and charges Capital outlay Total expenditures Other financing sources (uses): Transfers out Net change in fund balances Fund balances - beginning Fund balances - ending EDIT Fund $ 7,300,866 $ 9,068,785 $ 9,068,785 $ - 170,000 599,160 _ 604,691 5,531 7,470,866 9,667,945 9,673,476 5,531 3,203,720 4,848,464 3,551,861 1,296,603 - 53,061 53,061 3,203,720 4,901,525 3,604,922 1,296,603 (4,767,146) (4,767,146) (4,767,146) (500,000) (726) 1,301,408 1,302,134 8,380,260 8,380,260 8,380,260 - $ 7,880,260 $ 8,379,534 $ 9,681,668 $ 1,302,134 r Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 7,300,866 $ 9,068,785 $ 9,068,785 $ - 170,000 599,160 _ 604,691 5,531 7,470,866 9,667,945 9,673,476 5,531 3,203,720 4,848,464 3,551,861 1,296,603 - 53,061 53,061 3,203,720 4,901,525 3,604,922 1,296,603 (4,767,146) (4,767,146) (4,767,146) (500,000) (726) 1,301,408 1,302,134 8,380,260 8,380,260 8,380,260 - $ 7,880,260 $ 8,379,534 $ 9,681,668 $ 1,302,134 r 2L / / F- 0 E m` E E J E \� U E Cl) E 2 D , L ) / Z w / , A \ < / 7 ; Q / b =Z E (/ ƒ E L m � E O o J / / - o §A2) ¥ \ / \ / \CO LL G ± ! ƒ 2 Z L 0 a ► $ k ) .§ § C/) o / 2 .§ _ \ / a C.) = U) f U) R \ / \ / / \ S q = n a f � \ / § \ / \ \ _ \ / \ k / k� � % U) } 0 } w C6 3 d 110 m 1 6r� c Cl) c r / / - ? \ 7 / G co b / k \ § \ 0 � L 0 3 E m ^ (n \ / / o 2 r 7 7 c o % % K k $ b 2 �o C) / 60 ƒ X m � � » / \ / / 2 % % % CO ^ $ b 7 co 2 \ / / / ¥ 2 s Lu k 7 / m m k \ � \ = ƒ \ \ / � k & \ / I ± m \ \ \ \ % $ 04 $ [- 2 ± � — It o m 1 6r� / / b m / \ = 7 E k 0 3 E / (n S / / " cn o 2 m U) / @ @ m 2 / ƒ X / 2 % % % 0 \ / / / \ k Lu k 7 U Tf U PEACE �fe r a 1865 III Government Funds 111 NONMAJOR GOVERNMENTAL FUNDS Special Revenue Funds Motor Vehicle Highway - To account for street construction and the operations of the street main- tenance department. Financing is provided by state motor vehicle high- way distributions. Recreation Nonreverting - To account for fees and related expenses from park department activ- ities. Studebaker /Oliver Revitalization Grants — To account for expenditures related to the Studebaker and Oliver revitali- zation projects. Financing is provided by federal and state grants and loans from other organizations. Economic Development State Grants - To account for expenditures related to projects promoting economic development. Financing is provided by state grants and loan payments. Expenditures include grants and related expenses. DCI Operating - To account for the operating expenditures related to the South Bend Department of Community Investment. Financing will be provided by revenues received from charges for services, other revenue sources, and from fund transfers. Community Investment - To account for revenues received from the U.S. Department of Housing and Urban Development related to community improvement projects. Police State Seizure - To account for law enforcement expenditures financed by the authorized state or local agencies' sale of confiscated property. Juvenile Positive Assistance - To account for monies received from penalties paid for curfew violations. Expenditures include Drug Abuse Resistance Education and Juvenile Aid Bureau. Law Enforcement Continuing Education - To account for police fees collected to finance police officers' continuing education, training, and supplies and equipment. Loss Recovery - To account for compensatory or exemplary damage payments from third parties arising from loss or damage to City tangible or intangible prop- erty. Local Road and Street - To account for operation and maintenance of local and arterial road and street systems. Financing is provided by state gasoline tax distributions. Excess Welfare Distribution - To account for a special distribution from the County that can only be spent on public safety expenditures. AV NONMAJOR GOVERNMENTAL FUNDS (Continued) Human Rights - Federal - To account for expenditures to prevent discrimination and to promote human rights. Financing is provided by federal grants. East Race Waterway - To account for donations for the promotion and development of the East Race Waterway. Morris and Palais Marketing - To account for marketing and promotion expenditures financed by spon- sorship solicitations and donations. Police Block Grants - To account for federal grants which provide financing for police activities. Economic Development Commission - To account for administrative expenditures of the Economic Develop- ment Commission. Financing is provided by fees from businesses apply- ing for Economic Development Revenue Bonds. Hazmat - To account for monies generated by the South Bend Fire Department's response to hazardous materials incidents. Funds are used to purchase, repair, or replace haz -mat equipment, or for training and supplies. Indiana River Rescue - To account for expenditures related to river rescue training. Financing is provided by registration fees. COPS Block Grant II - To account for federal grants which provide financing for police activities. Regional Police Academy - To account for revenues (tuition) and expenditures (seminars, travel, lectures, and career days) related to the advancement of present and future police officers. COPS MORE Grant - To account for a COPS MORE grant which provides financing for police activities. Federal Drug Enforcement - To account for expenditures for drug enforcement. Financing is provided by distributions from the authorized federal agencies' confiscated prop- erty sale. Gift - To account for donations, gifts, or bequeaths for purposes designated by the donor. Urban Development Action Grant - To account for economic development expenditures which are financed by federal grants and loan repayments. Leaf Collection and Removal - To account for the expenditures of a program to remove leaves from the City each fall. Financing is provided by a monthly service fee charged to all City residents. 113 NONMAJOR GOVERNMENTAL FUNDS (Continued) Police K -9 Unit - To account for donations for development and maintenance of the K -9 unit. Rainy Day - To account for unused and unencumbered funds that are transferred from a fund that has a tax levy. Revenues in this fund also include special distributions of county option income tax (COIT) and county eco- nomic development income tax (CEDIT). Industrial Revolving - To account for the revenue and expenditures of providing special loans to qualifying local firms. Financing was originally provided by a $5,000,000 Economic Adjustment Assistance Grant from the U.S. Department of Commerce. Debt Service Funds College Football Hall of Fame Debt Service - To accumulate monies for the payment of Redevelopment Authority bonds issued to refinance bonds issued for construction of the College Football Hall of Fame. Financing is to be provided by an annual property tax levy. Redevelopment Bond - Central Development - To accumulate monies as a reserve for the payment of Redevelopment Authority bonds for the central development project. Redevelopment Bond — Airport Taxable - To accumulate monies as a reserve for the payment of Redevelopment Authority bonds for the airport taxable project. Coveleski Bond Debt Service Reserve - To accumulate monies as a reserve for the payment of the Coveleski Stadium recovery zone economic development bonds. Financing for debt payments is to be provided by professional sports and convention development area taxes ( PSCDA) and county option income tax revenues if PSCDA revenues are insufficient. Redevelopment Bond — Palais Royale To accumulate monies as a reserve for the payment of Redevelopment Authority bonds for the Palais Royale project. 114 NONMAJOR GOVERNMENTAL FUNDS (Continued) Redevelopment Authority Debt Service - To accumulate monies for the payment of Redevelopment Authority bonds issued to refinance bonds issued for construction of a parking gar- age facility, bonds issued for central development area land acquisition and construction of public improvements, bonds issued to purchase the Palais Royale, bonds issued to refinance bonds issued for construction of Century Center improvements, and bonds issued to refinance bonds issued for renovations to the Morris Performing Art Center. South Bend Building Corporation Debt Service - To account for debt retirement of the Building Corporation's Mortgage Bonds. Funding is provided by transfers from other City funds. TIF Erskine Village Debt Service - To account for Erskine Village project debt retirement of the south side tax incremental financing (TIF) district. Financing is provided by trans- fers from the TIF south side development fund. Capital Projects Funds Emergency Medical Services - To account for purchases of necessary equipment for the Fire Depart- ment and Emergency Medical Services Department. Financing is pro- vided by ambulance fees. Professional Sports Development - To account for Hotel /Motel Tax and Professional Sports Development Tax revenues dedicated towards the College Football Hall of Fame. Based on an agreement with the National Football Foundation (NFF), the City pays the NFF to assist with the operation and capital costs. Coveleski Stadium Capital- To account for expenditures related to the maintenance and improve- ment of the baseball stadium. Financing is provided by a rental paid by the semi -pro baseball team. Zoo Endowment - To account for construction projects at the City's zoo. Financing is provided by gifts and donations. Park Nonreverting Capital - To account for specific revenues used to finance capital improvements at the City parks. Cumulative Capital Development - To account for expenditures relating to the purchase or lease of capital improvements in the City. Financing is provided by a specific property tax levy. AP NONMAJOR GOVERNMENTAL FUNDS (Continued) Cumulative Capital Improvement - To account for state cigarette tax distributions used for improvement projects. Morris Performing Art Center Capital - To accumulate monies for major repairs and capital improvements to the Morris Civic Auditorium. Financing is provided by a surcharge on ticket sales for events held at the auditorium. Tax Incremental Financing (TIF) - Downtown - To account for expenditures for public improvements in the central business tax incremental district. Also, transfers are made to debt service funds to meet debt obligations as they mature. Financing is provided by property tax proceeds in excess of those attributable to the assessed valuation of the property in the district before redevelopment. Tax Incremental Financing (TIF) — Leighton Plaza - To account for expenditures for public improvement projects in the Leighton Plaza tax incremental district. Financing is provided by property tax proceeds in excess of those attributable to the assessed value of the property in the district before redevelopment. Tax Incremental Financing (TIF) —West Washington - To account for expenditures for public improvement projects in the West Washington Economic Development 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. Redevelopment General - To account for eligible redevelopment activities in the Studebaker Cor- ridor financed by proceeds from land sales or leases. Community Revitalization Enhancement District - To account for public improvements in the Studebaker /Oliver Community Revitalization Enhancement District. Financing is provided by income tax and gross retail tax increments in the district. Tax Incremental Financing (TIF) No. 1 — Southside Development - To account for expenditures for improvements in the southside develop- ment tax incremental district no. 1. Financing is provided by property tax proceeds in excess of those attributable to the assessed valuation of the property in the district before redevelopment. Tax Incremental Financing (TIF) No. 2 — Southside Development - To account for expenditures for improvements in the southside develop- ment tax incremental district no. 2. Financing is provided by property tax proceeds in excess of those attributable to the assessed valuation of the property in the district before redevelopment. 116 NONMAJOR GOVERNMENTAL FUNDS (Continued) Tax Incremental Financing (TIF) No. 3 — Southside Development - To account for expenditures for improvements in the southside develop- ment tax incremental district no. 3. Financing is provided by property tax proceeds in excess of those attributable to the assessed valuation of the property in the district before redevelopment. Tax Incremental Financing (TIF) - Central Medical Service Area - To account for expenditures for public improvements in the central business tax incremental district, medical service area. Financing is provided by property tax proceeds in excess of those attributable to the assessed valuation of the property in the district before redevelopment. Football Hall of Fame Capital - To account for capital expenditures for the College Football Hall of Fame. Financing was provided by a transfer from the City's Professional Sports Development Fund. This fund also accounts for the advance from the General Fund which may be repaid from future operating sur- pluses. Major Moves - To account for state distributions used for road construction and other uses authorized by Indiana statute. Tax Incremental Financing (TIF) — Northeast Development - To account for expenditures for improvements in the northeast develop- ment tax incremental district. Financing is provided by property tax proceeds in excess of those attributable to the assessed valuation of the property in the district before redevelopment. Tax Incremental Financing (TIF) — Douglas Road - To account for expenditures for improvements in the Douglas Road development tax incremental district. Financing is provided by property tax proceeds in excess of those attributable to the assessed valuation of the property in the district before redevelopment. Tax Incremental Financing (TIF) — Northeast Residential - To account for expenditures for improvements in the Northeast Neighborhood Residential development tax incremental district. Financing is provided by property tax proceeds in excess of those attributable to the assessed valuation of the property in the district before redevelopment Certified Technology Park - To account for expenditures related to acquisition, improvements, construction and maintenance of public facilities, debt service and other permitted uses under I.C. 36- 7 -32 -23 in connection with a certified technology park. Financing is provided by property tax proceeds, state gross retail and uses taxes, and other revenues. 117 NONMAJOR GOVERNMENTAL FUNDS (Continued) Palais Royale Historic Preservation - To account for expenditures financed by a two percent fee charged for all Palais Royale services. Airport Urban Enterprise Zone - To account expenditures for improvements in the Zone area, financed by property taxes on qualifying properties in the Zone. Eddy Street Commons Construction - To account for construction and related costs of the Eddy Street Com- mons project public improvements. Financing was provided by a 2008 Redevelopment Authority bond issue. Equipment Leasing - To account for proceeds from capital lease- purchase agreements used to finance major equipment needs of the City. 118 co CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 - Special Revenue Studebaker Motor Oliver Economic Vehicle Recreation Revitalization Development DCI Community Highway Nonreverting Grants State Grants Operating Investment Assets Cash and cash equivalents $ 859,863 $ 254,327 $ 408,663 $ 347,640 $ 221,061 $ 194,681 Cash with fiscal agent - 1,412,026 417,151 671,067 570,878 363,016 319,696 Investments Receivables (net of allowances for uncollectibles): 462 470 Interest 1,796 531 854 42,688 Taxes Accounts 2,830 45,630 - - 353 Intergovernmental 487,155 - - - - 579,779 406,841 Loans lnterfund receivable: _ lnterfund services provided and used - Advances to other funds - 500,000 3,551 - - 3,720,452 Property held for sale - Total assets $ 2,763,670 $ 717,639 $ 1,584,155 $ 1,540,985 $ 584,539 $ 4,642,493 Liabilities and Fund Balances Liabilities: Accounts payable $ 63,922 $ 20,555 $ - $. - $ 8,615 $ 288,429 Accrued payroll payable 107,486 7,428 - 63,628 - Contracts payable - - - Interfund payable: - 275 24,639 lnterfund services provided and used 106,385 - Performance deposits payable - - _ 4,761 Other current payables - - 362,338 _ Advances from other funds Total liabilities 277,793 27,983 - 362,338 72,518 317,829 Fund balances: Nonspendable: 482,025 - 317,336 Noncurrent loans receivable 3,551 - - 3,720,452 Property held for resale - Advances to other funds - 2,485,877 689,656 500,000 1,080,604 - 696,622 286,876 Restricted = Committed _ 512,021 - Assigned _ Unassigned " Total fund balances 2,485,877 689,656 1,584,155 1,178,647 512,021 4,324,664 Total liabilities and fund balances $ 2,763,670 $ 717,639 $ 1,584,155 $ 1,540,985 .$ 584,539 $ 4 642493 Continued on next page N O CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Special Revenue Law Juvenile Enforcement Excess Police Positive Continuing Loss Local Road Welfare State Seizure Assistance Education Recovery and Street Distribution Assets Cash and cash equivalents $ 54,655 $ 4,120 $ 411,514 $ 1,643,305 $ 648,871 $ 434 Cash with fiscal agent - - - - - Investments 90,080 6,766 675,768 2,698,555 1,065,545 712 Receivables (net of allowances for uncollectibles): Interest 115 9 860 3,432 1,355 1 Taxes - - - - - Accounts 5,124 12 16,906 - - Intergovernmental - - - - 82,968 Loans - - ' Interfund receivable: Interfund services provided and used Advances to other funds Property held for sale Total assets $ 150,174 $ 10,907 $ 1,105,046 $ 4,345,292 $ 1,798 739 $ 1,147 Liabilities and Fund Balances Liabilities: Accounts payable $ - $ - $ 3,751 $ - $ 9,347 $ - Accrued payroll payable - - - ' Contracts payable - - - Interfund payable: Interfund services provided and used - - Performance deposits payable - - - - Other current payables - - - Advances from other funds - - ` Total liabilities 3,751 - 9,347 Fund balances: Nonspendable: Noncurrent loans receivable - - - - ` Property held for resale Advances to other funds - - - - - ' Restricted 150,174 - 1,101,297 - 1,789,392 1,147 Committed - 10,907 - 4,345,292 - - Assigned - - " Unassigned - - Total fund balances '150,174 10,907 1,101,297 4,345,292 1,789,392 1,147 Total liabilities and fund balances $ 150,174 $ 10,907 $ 1,105,046 $ 4,345,292 $ 1,798,739 $ 1,147 Continued on next page N CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Special Revenue - Morris and Police Economic Human Rights East Race Palais Block Development Federal Waterway. Marketing Grants Commission Hazmat Assets Cash and cash equivalents $ 184,016 $ 5,421 $ 10,887 $ 1,440 $ 10,233 $ 1,015 Cash with fiscal agent 302,182 8,903 17,878 2,365 16,804 1,668 Investments Receivables (net of allowances for uncollectibles): 2 Interest 384 11 23 3 21 Taxes 15 - - 8 Accounts Intergovernmental - Loans Interfund receivable: _ Interfund services provided and used Advances to other funds - - Property held for sale Total assets $ 486,597 $ 14,335 $ 28,796 $ 3,808 $ 27,058 $ 2,685 Liabilities and Fund Balances Liabilities: Accounts payable $ 1,836 $ - $ 2,049 $ $ _ $ _ Accrued payroll payable 3,434 - Contracts payable - Interfund payable: _ Interfund services provided and used - Performance deposits payable Other current payables " Advances from other funds " Total liabilities 5,270 2,049 - Fund balances: Nonspendable: Noncurrent loans receivable Property held for resale Advances to other funds - - Restricted 481,327 - 14,335 - 26,747 3,808 - - 27,058 - 2,685 Committed Assigned - Unassigned " Total fund balances 481,327 14,335 26,747' 3,808 27,058 2,685 Total liabilities and fund balances $ 486,597 $ 14,335 $ 28,796 $ 3,808 $ 27,058 $______2,685 Continued on next page N N Assets Cash and cash equivalents Cash with fiscal agent Investments Receivables (net of allowances for uncollectibles): Interest Taxes Accounts Intergovernmental Loans Interfund receivable: Interfund services provided and used Advances to other funds Property held for sale Total assets r Liabilities and Fund Balances Liabilities: Accounts payable Accrued payroll payable Contracts payable Interfund payable: Interfund services provided and used Performance deposits payable Other current payabies Advances from other funds To)ai liabilities Fund balances: Nonspendable: Noncurrent loans receivable Property held for resale Advances to other funds Restricted Committed Assigned Unassigned Total fund balances Total liabilities and fund balances CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Revenue Regional Indiana COPS Block Police COPS MORE Federal Drug River Rescue Grant II Academy Grant Enforcement Gift $ 45,202 $ 37,141 $ 27,939 $ 40,609 $ 335,341 $ 23,934 74,229 60,991 45,881 66,687 - 39,303 94 69 58 85 104 50 90 50 63,337 98,201 $ 73,878 $ 107,471 $ 335,445 $ $ 119,525 $ $ 18,756 $ - $ 498 $ 135 $ 6,433 $ 18,756 498 135 6,433 98,201 - 107,336 329,012 63,337 - - 73,380 - - - 100,769 - - - 100,769 98,201 73,380 107,336 329,012 63,337 $ 119,525 $ 98,201 $ 73,878 $ 107,471 $ 335,445 $ 63,337 Continued on next page Assets Cash and cash equivalents Cash with fiscal agent Investments Receivables (net of allowances for uncollectibles): Interest Taxes Accounts Intergovern mental Loans Interfund receivable: Interfund services provided and used Advances to other funds Property held for sale -� Total assets N W Liabilities and Fund Balances Liabilities: Accounts payable Accrued payroll payable Contracts payable Interfund payable: Interfund services provided and used Performance deposits payable Other current payables Advances from other funds Total liabilities Fund balances: Nonspendable: Noncurrent loans receivable Property held for resale Advances to otherfunds Restricted Committed Assigned Unassigned Total fund balances Total liabilities and fund balances CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) 818 442 2,027,973 - 2,027,973 1,260 $ - $, 19,503 $ 443,829 - 182,794 _ - - 131,741 4,761 2,390,311 19,503 3,153,436 2,358,852 - - 5,253,097 8,411,310 - - 83,100 3,807,103 362,338 862,338 1,669,280 11,033,946 - 4,500,404 897,037 1,933 8,595,561 - 10,107,321 (2,003,349) - - (2,003,349) 355,503 897,037 1,933 8,595,561 7,367,815 36,719,073 $ 2,383,476 $ 898,297 $ 1,933 $ 8,595 561 $ 7 387,318 $___39,872 ,506 Continued on next page Special Revenue Urban Leaf Development Collection Police Industrial Action Grant and Removal K -9 Unit Rainy Day Revolving Totals $ 8,991 $ 325,307 $ 731 $ 3,250,673 $ 976,910 $ 10,335,124 14,764 534,204 1,200 5,338,098 - 14,816,437 19 679 2 6,790 30,905 91,872 38,107 - - 109,125 _ _ 570,123 2,359,702 - - 5,934,065 9,280,387 362,338 862,338 83,100 3,807,103 $ 2,383,476 $ 898,297 $ 1,933 $ 8,595,561 $ 7,387,318 $ 39,872,509 818 442 2,027,973 - 2,027,973 1,260 $ - $, 19,503 $ 443,829 - 182,794 _ - - 131,741 4,761 2,390,311 19,503 3,153,436 2,358,852 - - 5,253,097 8,411,310 - - 83,100 3,807,103 362,338 862,338 1,669,280 11,033,946 - 4,500,404 897,037 1,933 8,595,561 - 10,107,321 (2,003,349) - - (2,003,349) 355,503 897,037 1,933 8,595,561 7,367,815 36,719,073 $ 2,383,476 $ 898,297 $ 1,933 $ 8,595 561 $ 7 387,318 $___39,872 ,506 Continued on next page N -P CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Debt Service Redevelopment Redevelopment Coveleski Redevelopment College Football Bond- Bond - Bond Bond - Hall of Fame Central Airport Debt Service Palais Debt Service Development Taxable Reserve Royale Assets Cash and cash equivalents $ 220,362 $ - $ 393,231 $ 189,914 $ 657,025 Cash with fiscal agent - - - Investments 357,050 - 645,745 311,868 1,078,934 Receivables (net of allowances for uncollectibies): Interest 406 821 397 1,372 Taxes - Accounts - - Intergovernmental - - Loans - Interfund receivable: Interfund services provided and used - - Advances to other funds - Property held for sale - - Total assets $ 577,818 $ $ 1,039,797 $ 502,179 $ 1,737,331 Liabilities and Fund Balances Liabilities: Accounts payable Accrued payroll payable - - - Contracts payable - - interfund payable: interfund services provided and used 533 - 890 Performance deposits payable - - " Other current payables Advances from other funds - Total liabilities 533 - 890 Fund balances: Nonspendable: Noncurrent loans receivable - - - Property held for resale Advances to other funds - - - - - Restricted 577,818 - 1,039,264 502,179 1,736,441 Committed - - - - Assigned Unassigned - - Total fund balances 577,818 - 1,039,264 502,179 1,736,441 Total liabilities and fund balances $ 577,818 $ - $ 1,039,797 $ 502,179 $ 1,737,331 Continued on next page N Cal CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAdOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Liabilities and Fund Balances Debt Service Liabilities: Accounts payable $ - $ 3,050 South Bend 3,050 Accrued payroll payable - - Redevelopment Building TIF Erskine - - Authority Corporation Village - 1,423 Debt Service Debt Service Debt Service Totals Assets - - Other current payables Cash and cash equivalents $ 4,470,709 $ 544,399 $ 561,093 $ 7,036,733 Cash with fiscal agent - Total liabilities - Investments - - 2,393,597 Receivables (net of allowances for uncollectibles): Noncurrent loans receivable Interest - - Property held for resale 2' 996 Taxes Advances to other funds - - Accounts Restricted - 561,093 9,428,853 Intergovernmental - - - Assigned Loans - Unassigned Interfund receivable: Total fund balances 4,470,709 541,349 551,093 Interfund services provided and used Total liabilities and fund balances $ 4,470,709 $ 544,399 " 9,433,326 Advances to other funds Continued on next page Property held for sale Total assets $ 4,470,709 $ 544,399 $ 561,093 $ 9,433,326 Liabilities and Fund Balances Liabilities: Accounts payable $ - $ 3,050 $ - $ 3,050 Accrued payroll payable - - Contracts payable - - Interfund payable: - - 1,423 Interfund services provided and used - Performance deposits payable - - Other current payables - - Advances from other funds - Total liabilities 3,050 4,473 Fund balances: Nonspendable: Noncurrent loans receivable - - Property held for resale - - Advances to other funds - - - Restricted 4,470,709 541,349 561,093 9,428,853 Committed - - " Assigned - Unassigned Total fund balances 4,470,709 541,349 551,093 9,428,853 Total liabilities and fund balances $ 4,470,709 $ 544,399 $ 561,093 $ 9,433,326 Continued on next page N Cn Assets Cash and cash equivalents Cash with fiscal agent Investments Receivables (net of allowances for uncollectibles): Interest Taxes Accounts Intergovernmental Loans Interfund receivable: Interfund services provided and used Advances to other funds Property held for sale Total assets Liabilities and Fund Balances Liabilities: Accounts payable Accrued payroll payable Contracts payable Interfund payable: Interfund services provided and used Performance deposits payable Other current payables Advances from other funds Total liabilities Fund balances: Nonspendabie: Noncurrent loans receivable Property held for resale ' Advances to other funds' Restricted Committed Assigned Unassigned Total fund balances Total liabilities and fund balances CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Caoital Proiects $ 2,090,234 $ 393,957 $ 10,128 $ 18,489 $ 186,370 $ 316,343 $ 36,988 $ 149,990 3,432,461 646,937 16,632 30,361 306,049 519,484 60,739 246,306 4,366 823 21 39 389 661 77 313 - - - - - 8,740 - - 357,411 - - 20 - - - $ 5,894,492 $ 1,103,106 $ 26,781 $ 48,889 .$ 492,828 $ 845,228 $ 97,804 $ 396,609 $ 67,026 $ - $ $ $ 8,278 $ $ - $ 230 72,825 - - - - - 159,851 8,278 230 - 1,103,105 - - 484,550 845,228 97,804 - 5,734,641 - 26,781 48,889 - - 396,379 5,734,641 1,103,106 26,781 48,889 484,550 845,228 97,804 396,379 $ 5,894,492 $ 1,103,106 $ 26,781 $ 48,889 $ 492 828 $ 845,228 $ 97,804 $ 396,609 Continued on next page r Morris Emergency Professional Coveleski Park Cumulative Cumulative Performing Medical Sports Stadium Zoo Nonreverting Capital Capital Arts Center Services Development Capital Endowment Capital Development Improvement Capital $ 2,090,234 $ 393,957 $ 10,128 $ 18,489 $ 186,370 $ 316,343 $ 36,988 $ 149,990 3,432,461 646,937 16,632 30,361 306,049 519,484 60,739 246,306 4,366 823 21 39 389 661 77 313 - - - - - 8,740 - - 357,411 - - 20 - - - $ 5,894,492 $ 1,103,106 $ 26,781 $ 48,889 .$ 492,828 $ 845,228 $ 97,804 $ 396,609 $ 67,026 $ - $ $ $ 8,278 $ $ - $ 230 72,825 - - - - - 159,851 8,278 230 - 1,103,105 - - 484,550 845,228 97,804 - 5,734,641 - 26,781 48,889 - - 396,379 5,734,641 1,103,106 26,781 48,889 484,550 845,228 97,804 396,379 $ 5,894,492 $ 1,103,106 $ 26,781 $ 48,889 $ 492 828 $ 845,228 $ 97,804 $ 396,609 Continued on next page r Assets Cash and cash equivalents Cash with fiscal agent Investments Receivables (net of allowances for uncollectibles): Interest Taxes Accounts Intergovernmental Loans Interfund receivable: . Interfund services provided and used Advances to other funds Property held for sale Total assets N Liabilities and Fund Balances Liabilities: Accounts payable Accrued payroll payable Contracts payable Interfund payable: Interfund services provided and used Performance deposits payable Other current payables Advances from other funds Total liabilities Fund balances: Nonspendable: Noncurrent loans receivable Property held for resale Advances to other funds Restricted - Committed Assigned Unassigned Total fund balances Total liabilities and fund balances CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Capital Proiects Community TIF Revitalization TIF No. 1 - TIF No. 2 - TIF Leighton TIF - West • Redevelopment Enhancement Southside Southside Downtown Plaza Washington General District Development Development $ 1,076,226 $ 32,322 $ 170,982 $ 11,901 $ 223,587 $ 2,041,952 $ - - 105,000 18,468 2,977,699 - - _ 11767,326 53,078 280,778 19,544 - 3,353,195 2,248 68 357 24 106 4,265 _ - 36,819 - - 12,275 - 27 1,100 - - 883,311 - - 890 5,542,079 - 436,690 - 105,000 $ 9,272,107 $ 105,036 $ 925,626 $ 31,469 $ 328,693 $ 5,411,687 $ $ 47,544 $ 4,000 1,475 53,019 $ 315 $ $ - $ 129,456 $ - 9,851 - - - 10,166 129,456 699,310 - - " 5,542,079 - 436,690 - 105,000 - 2,977,699 105,036 478,770 - 223,693 5,282,231 31,469 - - 9,219 088 105,036 915,460 31,469 328,693 5,282,231 - $ 9,272,107 $ 105,036 $-----925 ,626 $ 31,469 $ 328,693 $ 5,411, $ - Continued on next page N CO CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Liabilities and Fund Balances Liabilities: Accounts payable $ - $ 233,051 $ 1,795 $ 87,697 $ Capital Projects $ - $ Accrued payroll payable - - - TIF- Central - - - Contracts payable - 49,062 TIF No. 3 - Medical Football Interfund payable: Southside Service Hall of Fame Major . TIF - Northeast TIF TIF - Northeast - Development Area Capital Moves Development Douglas Road Residential Assets Other current payables - - - Cash and cash equivalents $ 2,107,377 $ 1,460,691 $ 272,178 $ 2,988,943 $ 840,139 $ 60,911 $ 1,325,265 Cash with fiscal agent - - - - - - - Investments 3,460,633 2,398,676 446,958 4,908,297 1,379,636 100,026 2,176,287 Receivables (net of allowances for uncollectibles): Noncurrent loans receivable - - Interest 4,402 3,051 568 6,243 1,755 127 2,768 Taxes - - - - 250,163 247,312 - Accounts - Restricted - - - - - Intergovernmental - - - - - - - - Loans - - - - Interfund receivable: - - ( 550;815) (1,664,902) Total fund balances 5,572,412 3,580,305 Interfund services provided and used - 2,462,212 - (1,664,902) - $ 5,572,412 $ 3,862,418 $ 719,704 $ 'Advances to other funds - - - 6,128,413 - - Property held for sale Continued on next page - ` Total assets $ 5,572,412 $ 3,862,418 $ 719,704 $ 14,031,896 $ 2,471,693 $ 408,376 $ 3,504,320 Liabilities and Fund Balances Liabilities: Accounts payable $ - $ 233,051 $ 1,795 $ 87,697 $ 8,320 $ - $ Accrued payroll payable - - - - - - - Contracts payable - 49,062 11161 Interfund payable: Interfund services provided and used - - - - - Performance deposits payable Other current payables - - - Advances from other funds 717,909 959,191 5,169,222 Total liabilities 282,113 719,704 87,697 9,481 959,191 5,169,222 Fund balances: Nonspendable: Noncurrent loans receivable - - - - - - Property held for resale - - - - Advances to other funds - - 6,128,413 - - Restricted 5,572,412 3,580,305 - 7,815,786 2,462,212 - Committed - - - - - Assigned ed Unassigned - - - ( 550;815) (1,664,902) Total fund balances 5,572,412 3,580,305 13,944,199 2,462,212 (550,815) (1,664,902) Total liabilities and fund balances $ 5,572,412 $ 3,862,418 $ 719,704 $ 14,031,896 $ 2,471,693 $ 408,376 $ 3,504,320 Continued on next page CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Capital Projects 22,068 $ 141,971 $ Total Certified Palais Royale Airport Urban Eddy Street Nonmajor Governmental Technology Historic Enterprise Commons Equipment _ Park Preservation Zone Construction Leasing Totals Funds Assets Cash and cash equivalents Cash with fiscal agent Investments Receivables (net of allowances for uncoilectibles): Interest Taxes Accounts Intergovernmental Loans Interfund receivable: Interfund services provided and used Advances to other funds Property held for sale -` Total assets N C.� Liabilities and Fund Balances Liabilities: Accounts payable Accrued payroll payable Contracts payable Interfund payable: Interfund services provided and used Performance deposits payable Other current payables Advances From otherfunds Total liabilities Fund balances: Nonspendable: Noncurrent loans receivable Property held for resale Advances to other funds Restricted Committed Assigned Unassigned Total fund balances Total liabilities and fund balances $ 308,997 $ 22,068 $ 141,971 $ - $ 208,262 $ 16,496,271 $ 33,868,128 _ _ - 18,468 18,468 507,421 36,240 233,137 - 26,360,221 43,590,255 645 46 297 - 33,659 128,527 - 555,309 555,309 - 1,192 - - - 369,750 478,875 1,446,074 - - - - 1,507,463 2,077,586 - 883,311 10,163,698 890 890 _ - 6,128,413 6,990,751 6,063,769 9,89D,872 $ 2,263,137 $ 59,546 $ 375,405 $ $ 208,262 $ 58,457,524 $ 107,763,359 $ $ _ $ $ $ 206,299 $ 81b,011 $ 1,256,890 _ - 182,794 60,074 60,074 - 133,164 4,000 4,000 1,475 6,236 6,919,147 _ 9,309,458 206,299 7,794,707 10,952,616 _ - 699,310 9,110,520 _ - 6,083,769 9,890,872 6,128,413 6,990,751 2,263,137 - - 1,963 33,293,932 53,756,731 59,546 375,405 - - 6,641,641 11,142,045 _ _ - 31,469 10,138,790 - (2,215,717) (4,219,066) 2,263,137 59,546 375,405 1,963 50 662,817 96,810,743 $ 2,263,137 $ 59,546 $ 375,405 $ - $ 208,262 $ 58 457,524 $ 107,763,359 CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 Special Revenue Studebaker Motor Oliver Economic Vehicle Recreation Revitalization Development DCI Community Highway Nonreverting Grants State Grants Operating Investment Revenues: Taxes: Property $ - $ - $ - $ $ Professional sports development - - - - Community revitalization enhancement district - - - Intergovernmental 4,768,490 - - -- 324,599 3,705,652 Charges for services 218,351 993,565 - 228,301 - Fines and forfeits - - - ' Interest 7,441 3,073 4,936 105,840 2,848 2,685 Donations - - - - Sale of property 4,575 - - - - Other 133,621 83,122 304 5,451 434,870 Total revenues 5,132,478 1,079,760 4,936 106,144 561,199 4,143,207 Expenditures: Current: General government . - Public safety - - "� Highways and streets 6,686,464 - - - W Economic development - - 162,632 1,039,331 2,021,184 - 0 Culture and recreation - 969,547 - - - 4,648,222 Debt service: Principal 49,952 - - 131,747 - Interestandfiscalcharges 2,899 - 45,496 - Bond issuance costs - - Capital outlay: General government - Public safety - - • Highways and streets - - - - - - Economic development - Culture and recreation Total expenditures 6,739,315 969,547 162,632 1,216,576 2,021,184 4,648,222 Excess (deficiency) of revenues over (under) expenditures (1,606,837) 110,213 (157,696) (1,110,432) (1,459,985) (505,015) Other financing sources (uses): Transfers In 2,651,992 - - - 1,527,146 - Transfers out - - - • Debt issuance - - - - - - Premium on debt issuance - - - - - - Issuance of refunding bonds - - - Payment to refunded bond escrow agent - - Total other financing sources and uses 2,661,992 - 1,527,146 - Net change in fund balances 1,055,155 110,213 (157,696) (1,110,432) 67,161 (505,015) Fund balances - beginning 1,430,722 579,443 1,741,851 2,289,079 444,860 4,829,679 Fundbalances - ending $ 2,485,877 $ 689,656 $ 1,584,155 $ 1,178,647 $ 512,021 $ 4,324,664 Continued on next page CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Special Revenue Law Juvenile Enforcement Excess Police Positive Continuing Loss Local Road Welfare State Seizure Assistance Education Recovery and Street Distribution Revenues: Taxes: $ - $ - $ $ $ Property $ _ Professional sports development - - Community revitalization enhancement district " Intergovernmental - 48,288 - 1,016,393 _ Charges for services 104,862 - - Fines and forfeits 604 430 47 85,556 4,697 - 19,456 7,093 2,289 Interest Donations - 2,220 Sale of property - 28,376 - - 11,443 - - Other Total revenues 28,980 477 257,066 19,456 1,023,486 2,269 Expenditures: Current: - 10,919 - General government 10787 207,597 - 2,276,693 Public safety , - _ 503,059 - Highways and streets _ _ j Economic development - - - w Culture and recreation 126,769 Debt service: Principal Interest and fiscal charges - - _ Bond issuance costs " Capital outlay: General government " Public safety Highways and streets - - Economic development - - Culture and recreation Total expenditures 10,787 - 207,597 137,688 503,059 2,276,693 Excess (deficiency) of revenues 18,193 477 49,469 ' (118,232) 520,427 (2,274,404) over (under) expenditures OtheP financing sources (uses): _ Transfers in Transfers out " Debt issuance Premium on debt issuance - - Issuance of refunding bonds - - - Payment to refunded bond escrow agent - Total other financing sources and uses - - Net change in fund balances 18,193 477 49,469 (118,232) 520,427 (2,274,404) Fund balances - beginning 131,981 10,430 1,051,828 4,463,524 1 268,965 2,275,551 Fundbalances - ending $ 150,174 $ 10,907 $ 1,101,297 $ 4345292 $ 1,789,392 $ 1,147 Continued on next page W N CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Special Revenue Morris and Police Economic Human Rights East Race Palais Block Development Federal Waterway Marketing Grants Commission Haz mat Revenues: Taxes: Property $ $ $ $ Professional sports development Community revitalization enhancement district - - - - - Intergovernmental 163;260 - - - Charges for services - 4,925 - - - Fines and forfeits - - ' Interest 2,063 81 114 267 119 11 Donations - - - - ' Sale of property - - - Other 19,424 - 222 - Total revenues 184,737 81 5,039 509 119 11 Expenditures: Current: General government 168,167 - - - - Public safety - - - 124,539 - Highways and streets - - - - Economic development - - - - - - Culture and recreation - 8,010 2,048 Debt service: Principal - Interest and fiscal charges - - Bond issuance costs Capital outlay: General government Public safety Highways and streets Economic development Culture and recreation ' Total expenditures 168,167 8,010 2,048 124,539 Excess (deficiency) of revenues over (under) expenditures 16,570 (7,929) 2,991 (124,030) 119 11 Other financing sources (uses): Transfers in - - - - Transfers out Debt issuance - - - Premium on debt issuance - - - Issuance of refunding bonds Payment to refunded bond escrow agent - - - Total other financing sources and uses - - - - Net change in fund balances 16,570 (7,929) 2,991 (124,030) 119 11 Fundbalances - beginning 464,757 22,264 23,756 127,838 26,939 2,674 Fund balances - ending $ 481,327 $ 14,335 $ 26,747 $ 3,808 $ 27,058 Continued on next page W W CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Revenues: Taxes: Property Professional sports development Community revitalization enhancement district Intergovernmental Charges for services Fines and forfeits Interest Donations Sale of property Other Total revenues Expenditures: Current: General government Public safety Highways and streets Economic development Culture and recreation Debt service: Principal Interest and fiscal charges Bond issuance costs Capital outlay: General government Public safety Highways and streets Economic development Culture and recreation Total expenditures Excess (deficiency) of revenues over (under) expenditures Other financing sources (uses): Transfers in Transfers out Debt issuance Premium on debt issuance Issuance of refunding bonds Payment to refunded bond escrow agent Total other financing sources and uses Net change in fund balances Fund balances - beginning Fund balances - ending Special Revenue _ Regional Indiana COPS Block Police COPS MORE Federal Drug River Rescue Grant II Academy Grant Enforcement Gift 111,796 - 15,000 - 64,500 - 12,170 - - - 412 75 358 439 978 277 - - 2,640 - 20,525 - - 19,877 - 1,252 22,649 87,503 - 64,912 111,871 13,780 40,728 108,358 20,802 - - - 4,259 36,493 14,796 16,261 36,359 .107,507 - 36,493 14,796 16,261 38,359 107,507 4,259 28,419 97,075 (2,481) 2,369 851 16,543 28,419 97,075 (2,481) 2,369 851 16,543 72,350 ' 1,126 75,861 104,967 328,161 46,794 $ 100,769 $ 98,201 $ 73,380 $ 107,336 $ 329,012 $ 63,337 Continued on next page W .P CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Revenues: Taxes: Property Professional sports development Community revitalization enhancement district Intergovernmental Charges for services Fines and forfeits Interest Donations Sale of property Other Total revenues Expenditures: Current: General government Public safely Highways and streets Economic development Culture and recreation Debt service: Principal Interest and fiscal charges Bond issuance costs Capital outlay: General government Public safety Highways and streets Economic development Culture and recreation Total expenditures Excess (deficiency) of revenues over (under) expenditures Other financing sources (uses): Transfers in Transfers out Debt issuance Premium on debt issuance Issuance of refunding bonds Payment to refunded bond escrow agent Total other financing sources and uses Net change in fund balances Fund balances - beginning Fund balances - ending Special Revenue Urban Leaf Development • Collection Police Industrial Action Grant and Removal K -9 Unit Rainy Day Revolving Totals - 10,153,478 428,725 - 2,055,399. _ - - _ - - 85,986 643 3,915 10 37,923 247,638 456,342 - _ - 25,385 _ _ - 24,452 1,053 _ 25,441 854,731 1,696 432,640 10 37,923 273,079 13,655,773 101,331 - - 355 101,331 355 - 284,676 - 2,633,387 - 7,189,523 258,433 3,481,580 5,754,596 181,699 48,397 258,433 19,773,858 1,696 331,309 (345) 37,923 14,646 (6,118,085) - 4,189,138 (240,000) - (240,000) (240,000) - - 3,949,138 1,696 91,309 (345) 37,923 14,646 (2,168,947) 353,807 805,728 2,278 8,557,638 7,353,169 38,888,020 $ 355,503 $ 897,037 $ 1,933 $ 8,595,561 $ 7,367,815 3 36,719,073 Continued on next page W Cfl CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Revenues: Debt Service Redevelopment Redevelopment Coveleski Redevelopment College Football Bond - Bond - Bond Bond - Hall of Fame Central Airport Debt Service Palais Debt Service Development Taxable Reserve Royale Revenues: Taxes: Property $ 1,133,205 $ $ $ $ _ Professional sports development - ` Community revitalization enhancement district - " Intergovernmental 74,139 - Charges for services - _ Fines and forfeits - - 1,879 5,001 2,217 7,392 Interest Donations Sale of property " Other " Total revenues 1,207,344 1,879 5,001 2,217 7,392 Expenditures: Current: General government - Public safety Highways and streets " _ Economic development _ Culture and recreation Debt service: Principal 1,180,000 Interest and fiscal charges 158,228 - - Bond issuance costs ` Capital outlay: _ General government Public safely Highways and streets ` _ Economic development " Culture and recreation " Total expenditures 1,338,228 - - ` Excess (deficiency) of revenues over (under) expenditures (130,884) 1,879 5,001 2,217 7,392 Other financing sources (uses): Transfers In 93,040 - 834 (825,509) - (5,014) (7,414) Transfers out Debt issuance - Premium on debt issuance " Issuance of refunding bonds ` Payment to refunded bond escrow agent - " Total other financing sources and uses 93,040 (824,675) (5,014) (7,414) Net change in fund balances (37,844) (822,796) (13) 2,217 (22) Fundbalances - beginning 615,662 822,796 1,039,277 499,962 1736,463 Fundbalances - ending $ 577,818 $ - $ 1,039,264 $ 502,179 $ 1,736,441 Continued on next page CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Debt Service South Bend Redevelopment Building TIF Erskine Authority Corporation Village Debt Service Debt Service Debt Service Totals Revenues: Taxes: Property $ $ - $ $ 1,133,205 Professional sports development - Community revitalization enhancement district - - Intergovernmental - 74,139 Charges for services - - Fines and forfeits - - Interest 5,603 70 39 22,201 Donations - - - - Sale of property - - Other - Total revenues 5,603 70 39 1,229,545 ' Expenditures: _ Current: General government - - Public safety - - Highways and streets - - W Economic development - 0? Culture and recreation - - - Debt service: Principal 2,415,000 1,450,960 185,000 5,230,960 Interest and fiscal charges 2,431,269 860,983 305,438 3,755,918 Bond issuance costs - 254,611 - 254,611 Capital outlay: General government - - - Publlc safety - - - - Highways and streets - - - - Economic development - - - Culture and recreation - Total expenditures 4,846,269 2,566,554 490,438 9,241,489 Excess (deficiency) of revenues over (under) expenditures (4,840,666) (2,566,484) (490,399) (8,011,944) Other financing sources (uses): Transfers in 4,861,591 2,319,168 149,809 7,424,442 Transfers out (81,182) - - (919,119) Debt issuance - - - Premium on debt issuance 1,236,364 - 1,236,364 Issuance of refunding bonds - 13,595,000 -. 13,595,000 Payment to refunded bond escrow agent - (14,613,147) (14,613,147) Total other financing sources and uses 4,780,409 2,537,385 149,809 6,723,540 Net change in fund balances (60,257) (29,099) (340,590) (1,28B,404) Fund balances - beginning 4,530,966 570,44B 901,6133 10,717,257 Fundbalances - ending $ 4,470,709 $ 541,349 $ 561,093 $ 9,428,853 Continued on next page CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Capital Protects Morris Emergency Professional Coveleski Park Cumulative Cumulative Performing Medical Sports Stadium Zoo Nonreverting Capital Capital Arts Center Services Development Capital Endowment Capital Development Improvement Capital Revenues: Taxes: $ $ $ $ $ _ $ 506,330 $ _ $ - Property Professional sports development - 633,904 - Community revitalization enhancement district - - 38,122 418,323 Intergovernmental 154,543 489,152 - - - - 3,200 _ _ 65,904 Charges for services 2,310,993 - - Fines and forfeits 10,783 27,205 - 4,405 - 236 - 205 1,557 3,408 31 1,677 Interest _ _ - 13,000 - Donations Sale of property 6,532 18,331 88,023 - - 13,042 25 ,ODD - Other Total revenues 2,528,387 1,215,484 236 13,205 17,799 547,860 443,354 87,581 Expenditures: Current: _ General government Public safety Highways and streets _ j Economic development Culture and recreation - Debt service: 56,066 580,000 - - - 531,042 Principal 196,408 _ 38,827 Interest and fiscal charges - Bond issuance costs - r Capital outlay: _ _ 20,000 General government _ _ _ Public safety 1227,712 Highways and streets - _ Economic development - 569,152 56,163 186,559 _ - 168,281 Culture and recreation Total expenditures 1 283,778 1,365,560 56,163 186,559 589,869 - 168,281 Excess (deficiency) of revenues 1,244,60 (150,076) (55,927) 13,205 (168,760 (42,009) 443,354 (80,700 ) over (under) expenditures Other financing sources (uses): - 165,747 43,768 Transfers in T - (402'277) Transfers out (1,000,000) _ _ Debt issuance _ Premium on debt issuance Issuance of refunding bonds - - Payment to refunded bond escrow agent Total other financing sources and uses (1,000,000) 185,747 43,768 (402,277) - Net change in fund balances 244,609 (150,076) (55,927) 13,205 16,987 1,759 41,077 (80,700) Fund balances - beginning 5,490,032 1,253,182 82,708 35,684 467,563 643,469 56,727 477,079 Fund balances - ending $ 5 734,641 $ 1 103,106 $ 26 781 $ 48,889 $ 484,550 $ 846,228 $ 97,804 $ 396,379 Continued on next page CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Capital Projects Community TIF Revitalization TIF No. 1 - TIF No. 2 - TIF Leighton TIF - West Redevelopment Enhancement Southslde Southside Downtown Plaza Washington General District Development Development Revenues: Taxes: Property $ 3,638,177 $ - $ 436,354 $ - $ - $ 2,035,171 $. - Professional sports development - - - - - - Community revitalization enhancement district - - 653,185 Intergovernmental 398,000 - Charges for services 43,065 - - Fines and forfeits - - - - - - - Interest 44,434 _ 578 3,039 144 1,266 19,454 383 Donations - - - - - - - Sale of property - - - - - Other 187,046 132,181 4,200 - Total revenues 4,310,722 132,759 439,393 144 654,451 2,058,825 383 Expenditures: Current: General government " Public safety - - _ Highways and streets - - - - - - - Economic development 0 - Culture and recreation - - - - - - - Debt service: Principal 128,395 - - - 775,000 - - Interest and fiscal charges 842,956 - - - 103,554 - - Bond issuance costs - - - Capital outlay: General government - - - Public safety - - - - - - Highways and streets - - Economic development 5,439,688 124,532 916,534 3,214 2,188,092 Culture and recreation - - Total expenditures 6;411,041 124,532 916,534 3,214 878,554 2,188,092 - Excess (deficiency) of revenues over (under) expenditures (2,100,319) 8,227 (477,141) (3,070) (224,103) (129,267) 383 Other financing sources (uses): Transfers in 912,497 - - - - 1,401,397 - Transfers out (674,569) - - - - - (1,401,397) • Debt issuance 1,700,000 - - - - - - Premium on debt issuance - Issuance of refunding bonds - - - Payment to refunded bond escrow agent - - - - Total other financing sources and uses 1,937,928 - 1,401,397 (1,401,397) Net change in fund balances (162,391) 8,227 (477,141) (3,070) - (224,103) 1,272,130 (1,401,014) Fund balances - beginning 9,361,479 96,809 1,392,601 34,539 552,796 4,010,101 1,401,014 Fund balances - ending $ 9,219,086 05_$1 036 $ 915,460 $ 31,469 $ 328,693 $ 5,282,231 $ - Continued on next page CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December 31, 2012 (Continued) Capital Projects TIF- Central TIF No. 3 - Medical Football Southside Service Hall of Fame Major TIF - Northeast TIF TIF - Northeast Development Area Capital Moves Development Douglas Road Residential Revenues: Taxes: - $ 1,606,914 $ - $ $ 1,516,981 $ 347,451 $ 2,514,048 Property $ Professional sports development - _ _ Community revitalization enhancement district - Intergovernmental - Charges for services _ Fines and forfeits 24,789 15,391 3,323 388,363 5,970 602 10,700 Interest Donations _ Sale of property 115,286 Other Total revenues 24,769 1,622,305 118,609 368,363 1,522,951 348,053 2,524,748 Expenditures: Current: General government Public safety _y Highways and streets W Economic development Culture and recreation Debt service: _ 178,103 - Principal 78,699 301,388 Interest and fiscal charges _ Bond issuance costs - Capital outlay: General government Public safety - - 798,812 - _ _ Highways and streets 1,542,254 - 40,536 24,512 1,420,942 Economic development Culture and recreation - - 275,293 - - - " Total expenditures 1,542,254 275,293 '798,812 40,536 281,314 1,722,330 Excess (deficiency) of revenues over (under) expenditures 24,769, 80,051 (156,684) (410 449) 1,482,415 66,739 802,416 Other financing sources (uses): Transfers in - 156,684 _ (307,500) Transfers out (149,809) - - Debt issuance Premium on debt issuance " Issuance of refunding bonds Payment to refunded bond escrow agent - _ Total other financing sources and uses (149,809) 156,684 (307,500) Net change in fund balances (125,020) 80,051 - (410,449) 1,482,415 66,739 494,918 Fund balances - beginning 6,697,432 3,500,254 - 14 354,648 979,797 (617,554) (2,159,820) Fundbalances - ending $ 5572,412 $ 3,580,305 $ $ 13,944,199 $ • 2,462,212 $ (550,815) $ (1,664,902) Continued on next page CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS For the Year Ended December. 31, 2012 (Continued) Capital Projects Total Certified Palais Royale ' Airport Urban Eddy Street Nonmajor Technology Historic Enterprise Commons Equipment Governmental Park Preservation Zone Construction Leasing Totals Funds Revenues: Taxes: Property $ - $ - $ 111,722 $ - $ - $ 12,713,148 $ 13,846,353 ' Professional sports development - - - - - 633,904 633,904 Community revitalization enhancement district - - - - 653,185 653,1 B5 Intergovernmental 1,446,074 13,058 - - 2,957,272 13,184,889 Charges for services - - - - 2,443,162 4,498,561 Fines and forfeits - - - - 10,783 96,769 Interest 3,194 234 1,289 280 196 562,353 1,040,896 Donations - - - - - 13,000 38,385 Sale of property 6,532 30,984 Other - - 583,109 1.,437,840 Total revenues 1,449,268 13,292 113,011 280 196 20,576,448 35,461,766 Expenditures: Current: - - 284,576 General government Public safety 2,B33,387 Highways and streets _ _ _ _ 7,1B9,523 Economic development _ 3,481,580 O Culture and recreation - 5,754,596 Debt service: Principal - - - 2,248,606 7,661,265 Interest and fiscal charges - - - 1,561,834 5,366,149 Bond issuance costs - - - 254,611 Capital outlay: General government 145,889 165,889 165,889 Public safety - - - - 1,486,418 2,714,130 2,714,130 Highways and streets 622,822 1,421,634 1,421,634 Economic development - - 11,700,304 11,700,304 Culture and recreation - 1,469 344,500 1,621,417 1,621,417 Total expenditures - 1,469 2,599,629 21,433,814 50,449,161 Excess (deficiency) of revenues over (under) expenditures 1,449,268 11,823 113,011 280 (2,599,433) (857,366) (14,987,395) Other financing sources (uses): Transfers in - - 3,343 2,703,436 14,317,016 Transfers out - - - (2,310,088) (6,245,640) (7,404,759) Debt issuance - - 2,455,426 4,155,426 4,155,426 Premium on debt issuance - - - - - - 1,236,364 Issuance of refunding bonds - - - - - - 13,595,000 Payment to refunded bond escrow agent - - - (14,613,147) Total other financing sources and uses - (2,306,745) 2,455,426 613,222 11,285,900 Net change in fund balances 1,449,268 11,823 113,011 (2,306,465) (144,007) (244;144) (3,701,495) Fundbalances - beginning 813,869 47,723 262,394 2,306,465 145,970 50,906,961 100,512,238 Fundbalances - ending $ 2,263,137 $ 59,546 $ 375.405 $ - $ 1,963 $ 50,662,817 $ 96,810,743 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - MAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF AIRPORT For The Year Ended December 31, 2012 Revenues: Property Taxes Other Total revenues Expenditures: Current: Economic development: Other services and charges Capital outlay Total expenditures Other financing sources (uses): Transfers in Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances - 12,259,904 8,158,534 Variance - 16,042,981 Actual With Final - 28,302,885 Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ - $ 11,200,000. $ 11,631,287 $ 431,287 - 1,172,245 1,036;317 (135,928) - 12,372,245 12,667,604 295,359 - 12,259,904 8,158,534 4,101,370 - 16,042,981 11,652,652 4,39.0,329 - 28,302,885 19,811,186 8,491,699 - 663,992 663,991 (1) (15,266,648) (6,479,591) 8,787,057 22,653,741 22,653,741 22,653,741 - 122,653,741 $ 7,387,093 $ 16,174,150 $ 8,787,057 $ (6,479,591) (783, 924) (131,518) 3,70,592 Net change in fund balance, GAAP basis $ (3,824,441) 4P N CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - MOTOR VEHICLE HIGHWAY For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: ' Intergovernmental $ 4,832,214 $ 4,767,214 $ 4,582,130 $ (185,084) Charges for services 87,000 87,000 46,788 (40,212) Other 299,000 280,500 276,669 (3,831) Total revenues Expenditures: Current: Highways and streets: Personnel services Supplies Other services and charges Capital outlay Other uses Total expenditures Other financing sources (uses) Transfers in Net change in fund balances Fund balances - beginning Fund balances - ending Budget1GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 5,218,214 5,134,714 4,905,587 (229,127) 3,332,430 3,339,492 2,854,384 485,108 2,895,930 3,203,186 2,633,023 570,163 1,471,210 1,479,665 1,185,584 294,081 95,500 195, 364 182,842 12,522 120,504 120,504 105,900 14,604 7,915,574 8,338,211 6,961,733 1,376,478 2,700,212 2,700,212 2,700,212 - 2,852 (503,285) 644,066 1,147,351 1,414,022 1,414,022 1,414,022 - $__j,416,874 $ 910,737 $ 2,058,088 $ 1,147,351 $ 644,066 188,671 8,104 214,314 $ 1,055,155 Budget/GAAP Reconciliation Net change in fund balance, budget basis $ 55,463 To adjust revenues for accruals 39,925 To adjust expenditures for accruals 8,106 To adjust expenditures for encumbrances 6,719 Net change in fund balance, GAAP basis $ 110,213 CITY OF SOUTH BEND , SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - RECREATION NONREVERTING For The Year Ended December 31, 2012' Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Charges for services $ 1,645,195 $ 1,038,000 $ 992,189 $ (45,811) Other 2,500 42,500 47,646 5,146 Total revenues 1,647,695 1,080,500 1,039,835 (40,665) Expenditures: Current: Culture and recreation: Personnel services 690,266 690,266 485,875 204,391 W Supplies 292,008 299,107 185,403 113,704 Other services and charges 398,033 401,593 248,442 153,151 Other uses 26,160 26,160 26,160 - Capital outlay 119,000 137,280 38,492 98,786 Total expenditures 1,525,467 1,554,406 984,372 570,034 Net change in fund balances 122,228 (473,906) 55,463 529,369 Fund balances - beginning 609,251 609,251 609,251 - Fund balances - ending $ 731,479 $ 135,345 $ 664,714 $ 529,369 Budget/GAAP Reconciliation Net change in fund balance, budget basis $ 55,463 To adjust revenues for accruals 39,925 To adjust expenditures for accruals 8,106 To adjust expenditures for encumbrances 6,719 Net change in fund balance, GAAP basis $ 110,213 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - STUDEBAKER OLIVER REVITALIZATION GRANTS For The Year Ended December 31, 2012 Budget /GAAP Reconciliation Net change in fund balance, budget basis $ (157,117) To adjust revenues for accruals (549) To adjust expenditures for accruals (30) Net change in fund balance, GAAP basis L_1157,696 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Other $ 3,000 $ 5,486 $ 5,485 $ (1) Expenditures: Current: Economic development: Other services and charges 161,200 875,776 162,602 713,174 Net change in fund balances (158,200) (870,290) (157,117) 713,173 Fund balances - beginning 1,236,792 1,236,792 1,236,792 - Fundbalances - ending $ 1,078,592 $ 366,502 $ 1,079,675 $ 713,173 Budget /GAAP Reconciliation Net change in fund balance, budget basis $ (157,117) To adjust revenues for accruals (549) To adjust expenditures for accruals (30) Net change in fund balance, GAAP basis L_1157,696 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - ECONOMIC DEVELOPMENT STATE GRANTS For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: Economic development: Other services and charges Net change in fund balances Fund balances - beginning Fund balances - ending Budaet /GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals 207,067 207,067 207,065 2 25,001 31,411 13,407 (18,004) 905,048 905,048 905,048 - $ 930,049 $ 936,459 $ 918,455 $ (18,004) $ 13,407 (114,328) - (1,009,511) Net change in fund balance, GAAP basis L1111 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 232,068 $ 238,478 $ 220,472 $ (18,006) 207,067 207,067 207,065 2 25,001 31,411 13,407 (18,004) 905,048 905,048 905,048 - $ 930,049 $ 936,459 $ 918,455 $ (18,004) $ 13,407 (114,328) - (1,009,511) Net change in fund balance, GAAP basis L1111 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - .NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - DCI OPERATING For The Year Ended December 31, 2012 Revenues: Intergovernmental Other Total revenues Expenditures: Current: Economic development:. j Personnel services 4�h Supplies C" Other services and charges Capital outlay Other uses Total expenditures Other financing sources (uses): Transfers in Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 1,789,370 1,770,286 1,638,164. Variance 24,801 29,801 Actual With Final 146,367 151,684 Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 444,036 $ 444,036 $ 324,599 $ (119,437) 232,500 240,508 241,678 1,170 676,536 684,544 566,277 (118,267) 1,789,370 1,770,286 1,638,164. 132,122 24,801 29,801 23,139 6,662 146,367 151,684 128,943 22,741 - 16,100 4,720 11,380 243,144 243,144 243,144 - 2,203,682 2,211,015 2,038,110 172,905 1,527,146 1,527,146 1,527,146 - - 675 55,313 54,638 516,213 516,213 516,213 - $ 516,213 $ .516,888 $ 571,526 $ 54,638 $ 55,313 (5,078) 4,401 12,525 $ 67,161 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES.- BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - COMMUNITY INVESTMENT For The Year Ended December 31, 2012 Revenues: Intergovernmental Other Total revenues --L Expenditures: -p Current: v Economic development: Personnel services Other services and charges Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances $ 3,184,709 $ 9,263,577 $ 3,667,111 $ (5,596,466) 48,000 501,007 492,704 (8,303) 3,232,709 9,764,584 4,159,815 (5,604,769) - 2,613 2,613 - 3,232,709 9,311,577 9,28.1,815 29,762 3,232,709 9,314,190 9,284,428 29,762 - 450,394 (5,124,613) (5,575,007) 299,573 299,573 299,573 $ 299,573 $ 749,967 $ (4,825,040) $ (5,575,007) $ (5,124,613) (16,608) (707, 967) 5,344,173 Net change in fund balance, GAAP basis $ (505,015) Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 3,184,709 $ 9,263,577 $ 3,667,111 $ (5,596,466) 48,000 501,007 492,704 (8,303) 3,232,709 9,764,584 4,159,815 (5,604,769) - 2,613 2,613 - 3,232,709 9,311,577 9,28.1,815 29,762 3,232,709 9,314,190 9,284,428 29,762 - 450,394 (5,124,613) (5,575,007) 299,573 299,573 299,573 $ 299,573 $ 749,967 $ (4,825,040) $ (5,575,007) $ (5,124,613) (16,608) (707, 967) 5,344,173 Net change in fund balance, GAAP basis $ (505,015) OD CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - POLICE STATE SEIZURE For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: Public safety: Supplies Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 20,000 20,000 - 20,000 50,000 50,000 10,787 39,213 10,000 10,000 10,000 - 80,000 80,000 20,787 59,213 (39,000) (39,000) 8,218 47,218 126,708 126,708 126,708 - $ 87,708 $ 87,708 $ 134,926 $ 47,218 $ 8,218 (25) 10,000 $ 18,193 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 41,000 $ 41,000 $ 29,005 $ (11,995) 20,000 20,000 - 20,000 50,000 50,000 10,787 39,213 10,000 10,000 10,000 - 80,000 80,000 20,787 59,213 (39,000) (39,000) 8,218 47,218 126,708 126,708 126,708 - $ 87,708 $ 87,708 $ 134,926 $ 47,218 $ 8,218 (25) 10,000 $ 18,193 f �P CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - JUVENILE POSITIVE ASSISTANCE For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) _ Revenues: Fines and fees $ 1,000 $ 1,000 $ 418 $ (582) Other - - 52 52 Total revenues 1,000 1,000 470 (530) Expenditures: Current: Public safety: Supplies 500 500 - 500 Other services and charges 500 500 - 500 Total expenditures 1,OOD 1,000 - 1,000 Net change in fund balances - - 470 470 Fund balances - beginning 10,415 10,415 10,415 - Fund balances - ending $ 10,415 $ 10,415 $ 10,885 $ 470 Budget /GAAP Reconciliation Net change in fund balance, budget basis $ 470 To adjust revenues for accruals 7 Net change in fund balance, GAAP basis $ 477 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS- LAW ENFORCEMENT CONTINUING EDUCATION For The Year Ended December 31, 2012 Revenues: Intergovernmental Charges for services Fines and fees Other Total revenues CA Expenditures: CD Current: Public safety: Supplies Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 101,000 102,475 30,933 71,542 232,500 232,500 59,102 173,398 205,000 334,144 274,988 59,156 538,500 669,119 365,023 304,096 - (130,619) (85,165) 45,454 1,041,239 1,041,239 1,041,239 - $ 1,041,239 $ 910,620 $ 956,074 $ 45,454 $ (85,165) (22,792) 26,295 131,131 $ 49,469 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 312,700 $ 312,700 $ 74,468 $ (238,232) 105,000 105,000 102,239 (2,761) 96,000 96,000 81,343 (14,657) 24,800 24,800 "21,808 (2,992) 538,500 538,500 279,858 (258,642) 101,000 102,475 30,933 71,542 232,500 232,500 59,102 173,398 205,000 334,144 274,988 59,156 538,500 669,119 365,023 304,096 - (130,619) (85,165) 45,454 1,041,239 1,041,239 1,041,239 - $ 1,041,239 $ 910,620 $ 956,074 $ 45,454 $ (85,165) (22,792) 26,295 131,131 $ 49,469 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - LOSS RECOVERY For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: General government: —� Other services and charges Supplies Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance,.budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 50,000 87,533 28,553 58,980 208,000 208,000 - 208,000 243,434 163,620. 79,814 258,000 538,967 192,173 346,794 (244,000) (518,967) (170,279) 348,688 4,493,655 4,493,655 4,493,655 - $ 4,249,655 L 3,974,688 $ 4,323,376 $ 348,688 $ (170,279) (2,438) 36,299 18,186 $ (118,232) Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 14,000 $ 20,000 $ 21,894 $ 1,894 50,000 87,533 28,553 58,980 208,000 208,000 - 208,000 243,434 163,620. 79,814 258,000 538,967 192,173 346,794 (244,000) (518,967) (170,279) 348,688 4,493,655 4,493,655 4,493,655 - $ 4,249,655 L 3,974,688 $ 4,323,376 $ 348,688 $ (170,279) (2,438) 36,299 18,186 $ (118,232) C37 IV CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - LOCAL ROAD AND STREET For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Intergovernmental $ 1,065,012 $ 1,023,012 $ 1,022,508 $ (504) Other 9,000 9,000 7,306 (1,694) Total revenues 1,074,012 1,032,012 1,029,814 (2,198) Expenditures: Current: Highways and streets: Other services and charges 115,800 193,300 193,300 - Capital outlay 958,212 1,058,749 535,646 523,103 Total expenditures 1,074,012 1,252,049 728,946 523,103 Net change in fund balances - (220,037) 300,868 520,905 Fund balances - beginning 1,226,005 1,226,005 1,226,005 - Fund balances - ending $, 1,226,005 $ 1,005,968 $ 1,526,873- $ 520,905 Budoet/GAAP Reconciliation Net change in fund balance, budget basis $ 300,868. To adjust revenues for accruals (6,328) To adjust expenditures for accruals 38,464 To adjust expenditures for encumbrances 187,423 Net change in fund balance, GAAP basis $ 520,427 Ui W CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - EXCESS WELFARE DISTRIBUTION For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: Public safety: Capital outlay Net change in fund balances Fund balances - beginning ' Fund balances - ending Budget1GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ 9,000 $ 9,000 $ 5,407 Variance With Final Budget Positive (Negative) $ (3,593) 1,774,500 3,313,247 2,276,693 1,036,554 (1,765,500) (3,304,247) (2,271,286) 1,032,961 2,272,432 2,272,432 2,272,432 - $ 506,932 $ (1031,815) $ 1,146 "$ 1,032,961 $ (2,271,286) (3,118) L2,274,404 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - HUMAN RIGHTS FEDERAL For The Year Ended December 31, 2012 Revenues: Intergovernmental Other Total revenues Expenditures: G� Current: General government: Personnel services Supplies Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budoet/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances 197,250 217,250 184,948 (32,302) 99,279 101,779 Variance 2,562 Actual With Final 2,406 Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 159,000 $ 159,000 $ 123,260 $ (35,740) 38,250 58,250 61,688 3,438 197,250 217,250 184,948 (32,302) 99,279 101,779 99,217 2,562 2,800 4,845 2,406 2,439 82,750 116,770 65,562 51,208 - 1,730 1,729 1 184,829 225,124 168,914 56,210 12,421 (7,874) 16,034 23,908 469,764 469,764 469,764 - $ 482,185 $ 461,890 $ 485,798 $ 23,908 $ 16,034 (211) 381 366 Net change in fund balance, GAAP basis $ 16,570 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - EAST RACE WATERWAY . For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: —+ Culture and recreation: Supplies Other services and charges Total expenditures Net change in fund balances Fund balances - beginning - Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ - $ 100 $ 99 $ (1) 14,000 14,000 8,355 5,645 2,000 2,000 - 2,000 16,000 16,000 8,355 7,645 (16,000) (15,900) (8,256) 7,644 22,233 22,233 22,233 - $ 6,233 $ 6,333 $____I 3L977 $ 7,644 $ (8,256) (18) (1) , 346 Net change in fund balance, GAAP basis $ (7,929) CS7 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - MORRIS AND PALAIS MARKETING For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: Culture and recreation: Other services and charges Net change in fund balances Fund balances - beginning Fund balances - ending Budget /GAAP Reconciliation Net change in fund balance, budget basis To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ 8,100 $ 8,100 $ 5,039 Variance With Final Budget Positive (Negative) $ (3,061) 8,100 8,100 2,049 6,051 - - 2,990 2,990 23,724 23,724 23,724 - $ 23,724 $ 23,724 $ 26,714 $ 2,990 $ 2,990 (2,048) 2,049 $ 2,991 Cif J . CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL- NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - POLICE BLOCK GRANTS For The Year Ended December 31, 2012 Budget/GAAP Reconciliation Net change in fund balance, budget basis $ (123,858) To adjust revenues for accruals (172) Net change in fund balance, GAAP basis $ (124,030) Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Intergovernmental $ - $ 298,000 $ - $ (298,000) Other 2,000 , 2,000 681 (1,319) Total revenues 2,000 300,000 681 (299,319) Expenditures: Current: Public safety: Supplies 50,000 50,000 - 50,000 Capital outlay 250,000 250,000 124,539 125,461 Total expenditures 300,000 300,000 124,539 175,461 Net change in fund balances (298,000) - (123,858) (123,858) Fund balances - beginning 127,662 127,662 127,662 - Fund balances - ending $ (170,338) $ 127,662 $ 3,804 $ (123,858) Budget/GAAP Reconciliation Net change in fund balance, budget basis $ (123,858) To adjust revenues for accruals (172) Net change in fund balance, GAAP basis $ (124,030) j U1 OD CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - ECONOMIC DEVELOPMENT COMMISSION For The Year Ended December 31, 2012 Revenues: Other Net change in fund balances Fund balances - beginning Fund balances - ending Budget /GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ - $ 100 $ 133 100 133 26,902 26,902 26,902 Variance With Final Budget Positive (Negative) $ 33 33 $ 26,902 $ 27,002 $ 27,035 $ 33 $ 133 (14) $ 119 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE,FUNDS - HAZMAT For The Year Ended December 31, 2012 Revenues: Charges for services Other Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 3,000 $ 3,000 $ - $ (3,000) - - 13 13 _ Total revenues 3,000 3,000 13 (2,987) Cn CD Expenditures: Current: Public safety: Capital outlay Net change in fund balances Fund balances - beginning Fund balances - ending Budoet /GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis 3,000 3,000 - 3,000 - - 13 13 2,670 2,670 2,670 - $ 2,670 $ 2,670 $ 2,683 $ 13 $ 13 (2) $ 11 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - INDIANA RIVER RESCUE For The Year Ended December 31, 2012 Revenues: Charges for services Other Total revenues Expenditures: Current: CD Public safety: Personnel services Supplies Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending BUdget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ 31,300 $ 65,300 $ 65,000 200 200 408 Variance With Final Budget Positive (Negative) $ (300) 208 31,500 65,500 65,408 (92) 3,500 3,500 - 3,500 11,500 32,112 28,263 3,849 16,500 14,400 7,590 6,810 - 2,100 2,049 51 31,500 52,112 37,902 14,210 - 13,388 27,506 14,118 71,752 71,752 71,752 - $ 71,752 $ 85,140 $ 99,258 $ 14,118 $ 27,506 (496) (18,757) 20,166 Net change in fund balance, GAAP basis $ 28,419 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - COPS BLOCK GRANT II For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts . Basis Positive Original Final Amounts (Negative) Revenues: Intergovernmental $ 135,000 $ 135,000 $ 111,796 $ (23,204) Expenditures: —` Current: Public safety: Other services and charges 10,000 10,000 - 10,000 Capital outlay 125,000 125,000 14,796 110,204 Total expenditures 135,000 135,000 14,796 120,204 Net change in fund balances - - 97,000 97,000 Fund balances - beginning 1,125 1,125 1,125 - Fundbalances - ending $ 1,125 $ 1125 $ 98,125 $ 97,000 Budget/GAAP Reconciliation Net change in fund balance, budget basis . $ 97,000 To adjust revenues for accruals 75 Net change in fund balance, GAAP basis $ 97,075 N CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - REGIONAL POLICE ACADEMY For The Year Ended December 31,'2012 . Revenues: Intergovernmental Charges for services Other Total revenues Expenditures: Current: Public safety: Supplies Other services and charges Total expenditures Net change in fund balances Fund balances - beginning Fund balances -ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals Net change in fund balance, GAAP basis 2,500 2,500 Variance 2,344 Actual With Final 16,213 Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) - - $ 26,000 $ 26,000 $ 12,170 $ (13,830) 250 250 - (250) 750 750 1,652 902 27,000 27,000 13,822 (13,178) 2,500 2,500 156 2,344 24,500 24,500 16,213 8,287 27,000 .27, 000 16,369 10,631 - - (2,547) (2,547) 76,363 76,363 76,363 - $ 76,363 $ 76,363 $ 73,816 $ (2,547) $ (2,547) (42) 108 $ (2,481) OR CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - COPS MORE GRANT For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: Public safety: Supplies Other services and charges Capital outlay Total expenditures Net change in fund balances. Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 10,000 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive _ Original Final Amounts (Negative) 20,000 $ 59,850 $ 59,850 . $ 40,690 $ (19,160) 10,000 10,552 6,899 3,653 22,350 22,350 "12,778 9,572 27,500 27,500 20,000 7,500 59,850 60,402 39,677 20,725 - (552) 1,013. 1,565 105,896 105,896 105,896 - $ 105,896 $ 105,344 $ 106,909 $ 1,565 $ 1,013 38 936 380 $ 2,369 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - FEDERAL DRUG ENFORCEMENT For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Intergovernmental $ 60,000 $ 60,000 $ 63,434 $ 3,434 Other 2,000 2,000 21,138 19,138 Total revenues 62,000 62,000 84,572 22,572 Expenditures: Current: Public safety: Supplies 37,000 77,205 36,288 40,917 Other services and charges 50,000 56,000 24,481 31,519 Capital outlay 40,000 131,000 86,295 44,705 Total expenditures 127,000 264,205 147,064 117,141 Net change in fund balances (65,000) (202,205) (62,492) 139,713 Fundbalances - beginning 311,260 311,260 311,260 - Fund balances - ending $ 246,260 $ 109,055 $ 248,768 $ 139,713 BUdoet/GAAP Reconciliation Net change in fund balance, budget basis $ (62,492) To adjust revenues for accruals 23,786 To adjust expenditures for accruals (47,016) To adjust expenditures for encumbrances 86,573 Net change in fund balance, GAAP basis $ 851 f M 01 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES; AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - GIFT For The Year Ended December 31, 2012 Variance Actual 'With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Other $ 7,150 $ 19,850 $ 20,863 $ 1,013 Expenditures: Supplies $ - $ 5,200 $ 4,259 $ 941 Net change in fund balances 7,150 14,650 16,604 1,954 Fund balances - beginning 46,630 46,630 46,630 - Fund balances - ending $ 53,780 $ 61,280 $ 63,234 $ 1,954 Budget/GAAP Reconciliation. Net change in fund balance, budget basis $ 16,604 To adjust revenues for accruals (61) Net change in fund balance, GAAP basis $ 16,543 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - URBAN DEVELOPMENT ACTION GRANT For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: Economic development: Other services and charges Net change in fund balances Fund balances - beginning Fund balances - ending Budaet/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals Net change in fund balance, GAAP basis Budgeted Amounts Original Final $ 434,971 $ 435,359 $ 400,902 400,902 200,451 200,451 34,069 34,457 (192,781) (227,238) 216,535 216,535 216,535 - $ 250,604 $ 250,992 $ 23,754 $ (227,238) $ (192,781) (5,974) 200,451 $ 1,696 Variance Actual With Final Budgetary Budget Basis Positive Amounts (Negative) 7,670 $ (427,689) 400,902 400,902 200,451 200,451 34,069 34,457 (192,781) (227,238) 216,535 216,535 216,535 - $ 250,604 $ 250,992 $ 23,754 $ (227,238) $ (192,781) (5,974) 200,451 $ 1,696 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - LEAF COLLECTION AND REMOVAL For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget _ Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Charges for services $ 429,000 $ 429,000 $ 428,726 $ (274) Other 2,700 4,100 4,230 130 Total revenues Expenditures: _. Current: Gib General government: v Personnel services Supplies Other services and charges Other uses Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending BudoeVGAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 431,700 433,100 432,956 (144) 64,081 64,081 47,417 16,664 7,067 7,067 7,053 14 102,324 102,324 32,830 69,494 254,616 254,616 253,717 899 428,088 428,088 341,017 87,071 3,612 5,012 91,939 86,927 767,517 767,517 767,517 - $ 771,129 $ 772,529 $ 859,456 $ 86,927 $ 91,939 (316). (679) 365 $ 91,309 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - POLICE K -9 UNIT For The Year Ended December 31, 2012 Revenues: Other Expenditures: Current: Public safety: Other services and charges Net change in fund balances Fund balances - beginning Fund balances - ending $ 3,000 $ 3,000 $ 3,000 3,000 10 $ (2,990) 355 2,645 - - (345) (345) 2,275 2,275 2,275 - $ 2,275 $ 2,275 $ 1,930 $ (345) Budget /GAAP Reconciliation No reconcilement necessary since budgetary basis equals GAAP basis Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 3,000 $ 3,000 $ 3,000 3,000 10 $ (2,990) 355 2,645 - - (345) (345) 2,275 2,275 2,275 - $ 2,275 $ 2,275 $ 1,930 $ (345) Budget /GAAP Reconciliation No reconcilement necessary since budgetary basis equals GAAP basis C0 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS - RAINY DAY For The Year Ended December 31, 2012 Revenues: Other Net change in fund balances Fund balances - beginning Fund balances - ending Budoet/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis 8,520,942 8,520,942 8,520,942 - $ 8,548,942 $ 8,558,942 $ 8,563,181 $ 4,239 $ 42,239 (4,316) $ 37,923 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 28,000 $ 38;000 $ 42,239 $ 4,239 28,000 38,000 42,239 4,239 8,520,942 8,520,942 8,520,942 - $ 8,548,942 $ 8,558,942 $ 8,563,181 $ 4,239 $ 42,239 (4,316) $ 37,923 f J O CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS DEBT SERVICE FUNDS - COLLEGE FOOTBALL HALL OF FAME DEBT SERVICE For The Year Ended December 31, 2012 Revenues: Taxes: Property Intergovernmental Other Total revenues Expenditures: Debt service: Principal Interest and fiscal agent fees Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget /GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals Net change in fund balance, GAAP basis $ (24,181) (5,900) (7,763) $ (37,844) Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 1,200,000 $ 1,000,000 $ 1,133,205 $ 133,205 173,360 170,700 167,179 (3,521) - 5,900 5,90.0 - 1,373,360 1,176,600 1,306,284 129,684 1,337,145 1,329,716 1,329,715 1 4,500 21499 750 1,749 1,341,645 1,332,215 1,330,465 1,750 31,715 (155,615) (24,181) 131,434 598,620 598,620 598,620 - $ 630,335 $ 443,005 $ 574,439 $ 131,434 $ (24,181) (5,900) (7,763) $ (37,844) v CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS DEBT SERVICE FUNDS - REDEVELOPMENT BOND - CENTRAL DEVELOPMENT For The Year Ended December 31, 2012 Revenues: Other Other financing sources (uses): Transfers out Net change in fund balances Fund balances - beginning Fund balances - ending Budaet/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ - $ 3,000 $ 3,009 Variance With Final Budget Positive (Negative) $ 9 - (822,500) (825,509) (3,009) - (819,500) (822,500) (3,000) 822,500 822,500 .822,500 - $ 822,500 $ 3,000 $ - L_L 3,000) $ (822,500) (296) $ (822,796) CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS DEBT SERVICE FUNDS - REDEVELOPMENT BOND - AIRPORT TAXABLE For The Year Ended December 31, 2012 Revenues: j Other N Other financing sources (uses): Transfers out Net change in fund balances Fund balances - beginning Fund balances - ending Budget /GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals Net change'in fund balance, GAAP basis Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ - $ 6,000 $ 5,571 Variance With Final Budget Positive (Negative) $ (429) - (5,571) (5,571) - 6,000 - (6,000) 1,038,904 1,038,904 1,038,904 - $ 1,038,904 $ 1,044,904 $ 1,038,904 $ (6,000) (571) 558 $ (13) J LJ CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS DEBT SERVICE FUNDS - COVELESKI BOND DEBT SERVICE RESERVE For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Other $ - $ 3,000 $ 2,470 $ (53D) Net change in fund balances - 3,000 2,470 (530) Fund balances - beginning 499,277 499,277 499,277 - Fund balances - ending $ 499,277 $ 502,277 $__501_,747 $ (530) Budoet/GAAP Reconciliation Net change in fund balance, budget basis $ 2,470 To adjust revenues for accruals (253) Net change in fund balance, GAAP basis $ 2,217 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS DEBT SERVICE FUNDS - REDEVELOPMENT BOND - PALAIS ROYALE For The Year Ended December 31, 2012 Revenues: v Other -P Other financing sources (uses) Transfers out Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals- Net change in fund balance, GAAP basis Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ - $ 4,000 $ 8,258 Variance With Final Budget Positive (Negative) $ 4,258 - (8,258) (8,258) - 4,000 - (4,000) 1,735,840 1,735, 840 1,735,840 $ 1,735,840 $ 1,739,840 $ 1,735,840 $ (4,000) (865) 843 $ L2 2) CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGETAND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - EMERGENCY MEDICAL SERVICES For The Year Ended December 31, 2012 Revenues: Intergovernmental Charges for services Other Total revenues Expenditures: _. Public safety: v Supplies C71 Other services and charges Capital outlay Total expenditures Other financing sources (uses): Transfers out Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances 2,370,000 2,370,000 2,288,561 (81,439) 90,000 107,329 66,291 41,038 1,454,526 489,415 140,427 348,988 330,000 2,091,331 1,835,425 255,906 1,874,526 2,688,075 2,042,143 645,932 (1,000,000) (1,000,000) (1,000,000) - (504,526) (1,318,075) (753,582) 564,493 5,528,725 5,528,725 5,528,725 - L 5,024,199 $ 4,210,650 1 4,775,143 $ 564,493 $ (753,582) 239,826 (5,306) 763,671 Net change in fund balance, GAAP basis $ 244,609 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ _ $ - $ 23,416 $ 23,416 2,304,000 2,304,000 2,205,707 (98,293) 66,000 66,000 59,438 2,370,000 2,370,000 2,288,561 (81,439) 90,000 107,329 66,291 41,038 1,454,526 489,415 140,427 348,988 330,000 2,091,331 1,835,425 255,906 1,874,526 2,688,075 2,042,143 645,932 (1,000,000) (1,000,000) (1,000,000) - (504,526) (1,318,075) (753,582) 564,493 5,528,725 5,528,725 5,528,725 - L 5,024,199 $ 4,210,650 1 4,775,143 $ 564,493 $ (753,582) 239,826 (5,306) 763,671 Net change in fund balance, GAAP basis $ 244,609 J C" CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - PROFESSIONAL SPORTS DEVELOPMENT For The Year Ended Decembei31, 2012 Revenues: Taxes: Professional sports development Intergovernmental Other Total revenues Expenditures: Culture and recreation: Other services and charges Other uses Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budoet/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis $ (61,597) (88,479) $ (150,076) Y Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 489,152 $ 489,152 $ 489,152 $ - 600,000 721,797 721,763 (34) 98,024 98,024 93,048 (4,976) 1,187,176 1,308,973 1,303,963 (5,010) 776,608 776,608 776,408 200 589,152 589,152 589,152 - 1,365,760 1,365,760 1,365,560 200 (178,584) (56,787) (61,597) (4,810) 1,102,419 1,102,419 1,102,419 - $ 923,835 $ 1,045,632 $ 1,040,822 $ (4,810) $ (61,597) (88,479) $ (150,076) Y CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECT FUNDS - COVELESKI STADIUM CAPITAL For The Year Ended December 31, 2012 Revenues: Other Expenditures: Culture and recreation: —+ Supplies Other services and charges `i Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budoet/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis $ (59,375) (91) (1) 3,540 $ (55,927) Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 300 $ 300 $ 327 $ 27 - 7,003 6,987 16 73,000 49,999 35,000 14,999 - 18,000 17,715 285 73,000 75,002 59,702 15,300 (72,700) (74,702) (59,375) 15,327 82,594 82,594 82,594 - $ 9,894 $ 7,892 $ 23,219 $ 15,327 $ (59,375) (91) (1) 3,540 $ (55,927) OD CITY OF SOUTH BEND SCHEDULES OF' REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECT FUNDS - ZOO ENDOWMENT For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Other $ 2,800 $ 13,300 $ 13,211 $ (89) Net change in fund balances 2,800 13,300 13,211 (89) Fund balances - beginning 35,635 35,635 35,635 - Fund balances - ending $ 38,435 $ 48,935 $ 48,846 $ (89) Budget/GAAP Reconciliation Net change in fund balance, budget basis $ 13,211 To adjust revenues for accruals (6) Net change in fund balance, GAAP basis $ 13,205 CITY OF SOUTH_BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - PARK NONREVERTING CAPITAL For The Year Ended December 31, 2012 Revenues: Charges for services Other Total revenues Expenditures: Culture and recreation: -► Supplies v Other services and charges cfl Capital outlay Total expenditures Other financing sources (uses): Transfers in Net change in fund balances Fund balances - beginning Fund balances - ending BUdget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances 187,500 187,500 185,747 (1,753) (75,400) (89,924) 11,539 1u1,4b3 467,030 467,030 467,030 - $ 391,630 $ 377,106 $ 478,569 $ 101,463 $ 11,539 (196) (8,172) 13,816 Net change in fund balance, GAAP basis $ 16,987 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 3,000 $ 3,000 $ 3,180 $ 180 1,200 1,200 14,815 13,615 4,200 4,200 17,995 13,795 - 67,066 61,906 5,160 25,400 28,000 14,505 13,495 241,700 186,558 115,792 70,766 267,100 281,624 192,203 89,421 187,500 187,500 185,747 (1,753) (75,400) (89,924) 11,539 1u1,4b3 467,030 467,030 467,030 - $ 391,630 $ 377,106 $ 478,569 $ 101,463 $ 11,539 (196) (8,172) 13,816 Net change in fund balance, GAAP basis $ 16,987 FR CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - CUMULATIVE CAPITAL DEVELOPMENT For The Year Ended December 31, 2012 Revenues: Taxes: Property Intergovernmental Other Total revenues Expenditures: General government:. Other services and charges Capital outlay Other uses Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budaet/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis $ 13,539 (11,780) $ 1,759 Variance Actual With Final Budgetary . Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 550,000 $ 550,000 $ 517,710 $ (32,290) 85,682 81,403 81,890 487 2,000 3,500 3,808 308 637,682 634,903 603,408 (31,495) 582,845 583,481 570,505 12,976 20,000 19,364 19,364 - 636 636 - 636 603,481 603,481 589,869 13,61 34,201 31,422 13,539 (17,883) 822,230 822,230 822,230 - $ 856,431 $ 853,652 $ 835,769 $ (17,883) $ 13,539 (11,780) $ 1,759 00 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - CUMULATIVE CAPITAL IMPROVEMENT For The Year Ended December 31, 2012 Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis $ 46,961 (5,884) $ 41,077 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts _(Negative) Revenues: Intergovernmental $ 424,165 $ 402,830 $ 418,323 $ 15,493 Other 25,100 31,000 30,915 (85) Total revenues 449,265 433,830 449,238 15,408 Expenditures General government: Other services and charges 402,277 402,277 402,277 - Net change in fund balances 46,988 31,553 46,961 15,408 Fund balances - beginning 50,759 50,759 50,759 - Fund balances - ending $ 97,747 $ 82,312 $ 97,720 $ 15,408 Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis $ 46,961 (5,884) $ 41,077 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJI =CT FUNDS - MORRIS PERFORMING ARTS CENTER CAPITAL For The Year Ended December 31, 2012 Revenues: Charges for services Other Total revenues OD Expenditures: N Culture and recreation: Supplies Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To'adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis $ (116,682) (320) 4,136 32,166 $ (80,700) Variance Actual With Final Budgetary - Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 100,000 $ 100,000 $ 85,904 $ (14,096) 1,500 1,500 1,997 497 101,500 101,500 87,901 (13,599) - 6,274 6,274 - 35,000 33,688 23,837 9,851 66,500 224,894 174,472 50,422 101,500 264,856 204,583 60,273 . - (163,356) (116,682) 46,674 515,676 515,676 515,676 - $ 515,676 $ 352,320 $ 398,994 $ 46,674 $ (116,682) (320) 4,136 32,166 $ (80,700) CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF DOWNTOWN For The Year Ended December 31, 2012 Revenues: Taxes Intergovernmental Charges for services Other Total revenues —A Expenditures: po Economic development: W Other services and charges Capital outlay Total expenditures Other financing sources (uses): Transfers in Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances - 8,260,408 7,349,265 911,143 - 833,768 833,768 - - (2,614,190) (1,853,421) 760,769 3,968,559 3,968,559 3,968,559 - $ 3,968,559 $ 1,354,369 1 2,115,138 $ 760,769 $ (1,853,421) (272,625) 1,761,553 202,102 Net change in fund balance, GAAP basis $ (162,391) Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ - $ 3,650,000 $ 3,671,478 $ 21,478 - 398,000 398,000 - - 42,485 43,072 587 - 721,965 549,526 (172,439) - 4,812,450 4,662,076 (15D,374) - 3,228,560 3,138,906 89,654 - 5,031,848 4,210,359 821,489 - 8,260,408 7,349,265 911,143 - 833,768 833,768 - - (2,614,190) (1,853,421) 760,769 3,968,559 3,968,559 3,968,559 - $ 3,968,559 $ 1,354,369 1 2,115,138 $ 760,769 $ (1,853,421) (272,625) 1,761,553 202,102 Net change in fund balance, GAAP basis $ (162,391) 00 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL -- IONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF LEIGHTON PLAZA For The Year Ended December 31, 2012 Revenues: Charges for services Other Total revenues Expenditures: Economic development: Supplies Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget /GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals Net change in fund balance, GAAP basis - 149,119 131,799 (17,320} 11,432 7,366 4,066 129,845 114,517 15,328 14,000 14,000 - 155,277 135,883 19,394 - (6,158) (4,084) 2,074 99,477 99,477 99,477 - $ 99,477 $ 93,319 $ 95,393 $ 2,074 $ (4,084) 960 11,351 $ 8,227 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ - $ 102,179 $ 93,293 $ (8,886) - 46,940 38,506 (8,434) - 149,119 131,799 (17,320} 11,432 7,366 4,066 129,845 114,517 15,328 14,000 14,000 - 155,277 135,883 19,394 - (6,158) (4,084) 2,074 99,477 99,477 99,477 - $ 99,477 $ 93,319 $ 95,393 $ 2,074 $ (4,084) 960 11,351 $ 8,227 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF - WEST WASHINGTON For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Taxes $ - $ 440,000 $ 422,715 $ (17,285) Other - 4,000 3,920 (80) Total revenues - 444,000 426,635 (17,365) Expenditures: OD Economic development: Other services and charges - 10,526 7,264 3,262 Capital outlay - 1,120,508 1,118,300 2,208 Total expenditures - 1,131,034 1,125,564 5,470 Net change in fund balances - (687,034) (698,929) (11,895) Fund balances - beginning 931,843 931,843 931,843 Fundbalances - ending $ 931,843 $ 244,809 $ 232,914 $ {11,895) Budaet1GAAP Reconciliation Net change in fund balance, budget basis $ (698,929) To adjust revenues for accruals 12,758 To adjust expenditures for accruals (9,785) To adjust expenditures for encumbrances 218,815 Net change in fund balance, GAAP basis L__(477, 141) .4 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - REDEVELOPMENT GENERAL For The Year Ended December 31, 2012 Revenues: Other Expenditures: Economic development: Other services and charges Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ - $ 165 $ 164 Variance With Final Budget Positive (Negative) $ (1) 10,000 10,000 - - (9,835) (9,836) (1) 34,492 34,492 34,492 - $ 34,492 $ 24,657 1 24,656 $ (1) $ (9,836) (20) 6,786 $ (3,07Q) CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGETAND ACTUAL- NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECT FUNDS - COMMUNITY REVITALIZATION ENHANCEMENT DISTRICT For The Year Ended December 31, 2012 Revenues: Intergovernmental Other Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 1,000,000 $ 740,000 $ 653,185 $ (86,815) 2,000 2,000 1,259 (741) OD Total revenues 1,002,000 742,000 654,444 (87,556) Expenditures: Economic development: Other services and charges Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis 878,554 878,554 878,554 - 123,446 (136,554) (224,110) (87,556) 447,697 447,697 447,697 - $ 571,143 $ 311,143 1 223,587 $ (87,556) $ (224,110) 7 $ (224,103) co co CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF No. 1 - SOUTHSIDE DEVELOPMENT For The Year Ended December 31, 2012 Revenues: Taxes Inter -fund transfers Other Total revenues Expenditures: .Economic development: . Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending BUdget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis Budgeted Amounts Original Final $ - $ 1,820,000 $ 2,466,203 .$ 646,203 - 1,401,397 1,401,397 - '24,140 24,139 (1) - 3,245,537 3,891,739 646,202 - 1,239,960 Variance Actual With Final Budgetary Budget Basis Positive Amounts (Negative) $ - $ 1,820,000 $ 2,466,203 .$ 646,203 - 1,401,397 1,401,397 - '24,140 24,139 (1) - 3,245,537 3,891,739 646,202 - 1,239,960 1,195,695 44,265 - 4,830,645 1,475,003 3,355,642 - 6,070,605 2,670,698 3,399,907 - (2,825,068) 1,221,041 4,046,109 3,750,851 3,750,851 3,750,851 - $ 3,750,851 $ 925,783 $ 4,971,892 $ 4,046,109 $ 1,221,041 (431,5.17) 59,722 422,884 $ 1,272,130 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL- NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF No. 2 - SOUTHSIDE DEVELOPMENT For The Year Ended December 31, 2012 Revenues: _ Other co Expenditures: CD Economic development: Interfund transfers out Net change in fund balances Fund balances - beginning Fund balances - ending Budget /GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis 9 Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ - $ 2,330 $ 2,329 Variance With Final Budget Positive (Negative) $ (1. 1,400,000 1,401,397 (1,397) (1,397,670) (1,399,068) (1,398) 1,399,068 1,399,068 1,399,068 $ 1,399,068 $ 1,398 $ (0) $ (1,399,068) (1,946) $ (1,401,014) j co CD CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOk GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS -TIF No. 3 - SOUTHSIDE DEVELOPMENT For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Other $ - $ 27,802 $ 27,801 $ (1) Expenditures: Economic development: Other services and charges - 500,000 151,077 348,923 Net change in fund balances - (472,198) (123,276) 348,922 Fund balances - beginning 5,689,634 5,689,634 5,689,634 - Fund balances - ending $ 5,689,634 $ 5,217,436 $ 5,566,358 $ 348,922 Budaet /GAAP Reconciliation Net change in fund balance, budget basis $ (123,276) To adjust revenues for accruals (3,012) To adjust expenditures for encumbrances 1,268 Net change in fund balance, GAAP basis $ (125,020) CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF - CENTRAL MEDICAL SERVICE AREA For The Year Ended December 31, 2012 Revenues: Taxes Other Total revenues Expenditures: co Economic development: Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 1,736,841 1,623,756 (113,085) - 422,274 422,109 Variance - 3,938,117 Actual With Final - 4,360,391 Budgetary Budget Budgeted Amounts, Basis Positive Original Final Amounts (Negative) - $ - $ 1,720,000 $ 1,606,915 $ (113,085) - 16,841- 16,841 - 1,736,841 1,623,756 (113,085) - 422,274 422,109 165 - 3,938,117 2,010,815 1,927,302 - 4,360,391 2,432,924 1,927,467 - (2,623,550) (809,168) 1,814,382 3,497,725 3,497,725 3,497,725 - $ 3,497,725 1 874,175 1 2,688,557 $ 1,814,382 $ (809,168) (1,451) (279,875) 1,170,545 $ 80,051 CD N CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECT FUNDS - FOOTBALL HALL OF FAME CAPITAL For The Year Ended December 31, 2012 Revenues: Other Expenditures: Culture and recreation: Supplies Other services and charges Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis $ (157,161) 156,101 (735) 1,795 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 4,500 $ 119,786 $ 119,192 $ (594) 14,500 14,500 1,416 13,084 97,236 359,776 274,937 84,839 111,736 374,276 276,353 97,923 (107,236) (254,490) (157,161) 97,329 874,452 874,452 874,452 - $ 767,216 $ 619,962 $ 717,291 $ 97,329 $ (157,161) 156,101 (735) 1,795 co W CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - MAJOR MOVES For The Year Ended December 31, 2012 Revenues: Other Expenditures: Highways and streets: Capital outlay Net change in fund balances Fund balances - beginning Fund balances - ending BudpeVGAAP Reconciliation Net change in fund balance, budget basis To adjust-revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis $ (2,543,504) (326,900) 1,344,108 1,115, 847 $ (410,449) Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 509,660 $ 705,548 $ 715,263 $ 9,715 - 3,258,836 3,258,767 69 509,660 (2,553,288) (2,543,504) 9,784 9,324,355 9,324,355 9,324,355 - $ 9,834,015 L 6,771,067 L 6,780,851 $ 9,784 $ (2,543,504) (326,900) 1,344,108 1,115, 847 $ (410,449) co CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF -.NORTHEAST DEVELOPMENT For The Year Ended December 31, 2012 Budoet/GAAP Reconciliation Net change in fund balance, budget basis $ 1,278,551 To adjust revenues for accruals 166,617 To adjust expenditures for accruals (1,748) To adjust expenditures for encumbrances 38,995 Net change in fund balance, GAAP basis $ 1,482,415 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Taxes $ - $ 820,000 $ 1,351,048 $ 531,048 Other - 5,287 5,286 (1) Total revenues - 825,287 1,356,334 531,047 Expenditures: Economic development: Other services and charges - 79,839 77,783 2,056 Capital outlay - 1,221,687 - 1,221,687 Total expenditures - 1,301,526 77,783 1,223,743 Net change in fund balances - (476,239) 1,278,551 1,754,790 Fund balances - beginning 902,076 902,076 902,076 - Fund balances - ending $ 902,076 $ 425,837 $' 2,180,627 $ 1,754,790 Budoet/GAAP Reconciliation Net change in fund balance, budget basis $ 1,278,551 To adjust revenues for accruals 166,617 To adjust expenditures for accruals (1,748) To adjust expenditures for encumbrances 38,995 Net change in fund balance, GAAP basis $ 1,482,415 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF - DOUGLAS ROAD For The Year Ended December 31, 2012 Revenues: Taxes Other Total revenues f � Expenditures: Cn Economic development: Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budget/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals To adjust expenditures for encumbrances Net change in fund balance, GAAP basis 314,465 314,465 33,680 8,500 25,180 348,145 322,965 25,180 (27,422) (36,529) (9,107) 192,672 192,672 192,672 - $ 192,672 $ 165,250 $ 156,143 $ (9,107) $ (36,529) 61,617 36,869 4.782 $ 66,739 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ - $ 320,000 $ 285,713 $ (34,287) - 723 723 - - 320,723 286,436 (34,287) 314,465 314,465 33,680 8,500 25,180 348,145 322,965 25,180 (27,422) (36,529) (9,107) 192,672 192,672 192,672 - $ 192,672 $ 165,250 $ 156,143 $ (9,107) $ (36,529) 61,617 36,869 4.782 $ 66,739 co 07 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - TIF - NORTHEAST RESIDENTIAL. For The Year Ended December 31, 2012 Budaet/GAAP Reconciliation Net change in fund balance, budget basis $ 1,625,551 To adjust revenues for accruals 489 To adjust expenditures for accruals (1,132,579) To adjust expenditures for encumbrances 1,457 Net change in fund balance, GAAP basis $ 494,918 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Taxes $ - $ 2,450,000 $ 2,514,048 $ 64,048 Other - 10,212 10,211 (1) Total revenues - 2,460,212 2,524,259 64,047 Expenditures: Economic development: Other services and charges - 901,327 898,708 2,619 Net change in fund balances - 1,558,885 1,625,551 66,666 Fund balances - beginning 1,874,303 1,874,303 1,874,303 - Fund balances - ending $ 1,874,303 $ 3,433,188 L 3,499,854 $ 66,666 Budaet/GAAP Reconciliation Net change in fund balance, budget basis $ 1,625,551 To adjust revenues for accruals 489 To adjust expenditures for accruals (1,132,579) To adjust expenditures for encumbrances 1,457 Net change in fund balance, GAAP basis $ 494,918 co v CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - CERTIFIED TECHNOLOGY PARK For The Year Ended December 31, 2012 Revenues: Other Expenditures: Economic development: Capital outlay' Net change in fund balances Fund balances - beginning Fund balances - ending Budget /GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals Net change in fund balance, GAAP basis Actual Budgetary Budgeted Amounts Basis Original Final Amounts $ - $ 3,571 $ 3,571 Variance With Final Budget Positive (Negative) 813,000 - 813,000 - (809,429) 3,571 813,000 812,791 812,791 812,791 - $ 812,791 $ 3,362 $ 816,362 $ 813,000 $ 3,571 1,445, 697 $ 1,449,268 CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECT FUNDS - PALAIS ROYALE HISTORICAL PRESERVATION For The Year Ended December 31, 2012 Revenues: Other —` Expenditures: co Culture and recreation: OD Other services and charges Capital outlay Total expenditures Net change in fund balances Fund balances - beginning Fund balances - ending Budoet/GAAP Reconciliation Net change in fund balance, budget basis To adjust revenues for accruals To adjust expenditures for accruals Net change in fund balance, GAAP basis $ 12,113 1,179 (1,469) $ 11,823 Variance Actual With Final Budgetary Budget . Budgeted Amounts Basis Positive Original Final Amounts (Negative) $ 16,125 $ 16,125 $ 12,113 $ (4,012) 8,000 8,000 - 8,000 8,125 8,125 - 8,125 16,125 16,125 - 16,125 - - 12,113 12,113 46,191 46,191 46,191 - $ 46,191 $ 46,191 $ 58,304 $ 12,113 $ 12,113 1,179 (1,469) $ 11,823 j CD CD CITY OF SOUTH BEND SCHEDULES OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - NONMAJOR GOVERNMENTAL FUNDS CAPITAL PROJECTS FUNDS - AIRPORT URBAN ENTERPRISE ZONE For The Year Ended December 31, 2012 Variance Actual With Final Budgetary Budget Budgeted Amounts Basis Positive Original Final Amounts (Negative) Revenues: Taxes $ - $ 111,721 $ 111,721. $ - Other - 1,324 1,323 (1) Total revenues - 113,045 113,044 (1) Expenditures: Economic development: Other services and charges - - Net change in fund balances 113,045 113,044 (1) Fund balances - beginning 262,038 262,038 262,038 - Fund.balances - ending $ 262,038 $ 375,083 $ 375,082 $ (1) Budget /GAAP Reconciliation Net change in fund balance, budget basis $ 113,044 To adjust revenues for accruals (33) Net change in fund balance, GAAP basis $ 113,011 0 Tf U PEACE �fe r a 1865 IV Non Major Enterprise Funds 200 NONMAJOR ENTERPRISE FUNDS Consolidated Building - To account for the operation of the consolidated St. Joseph County /South Bend Building Department. Parking Garage - To account for the operation and maintenance of the City's parking garages. Solid Waste - To account for the provision of solid waste services. Blackthorn Golf Course - To account for the operation and maintenance of the City's Blackthorn Golf Course. 201 N CD N CITY OF SOUTH BEND COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS December 31, 2012 Assets Current assets: Cash and cash equivalents Investments Interest receivable Accounts receivable (net of allowance) Interfund receivables: Interfund services provided and used Inventories Restricted assets: Cash and cash equivalents: Revenue bond covenant accounts Capital outlay accounts Cash with fiscal agent Investments: Revenue bond covenant accounts Capital outlay accounts Total current assets Noncurrent Assets: Capital assets: Land and construction in progress Other capital assets (net of accumulated depreciation) Total noncurrent assets Total assets Consolidated Parking Solid Blackthorn 964,138 2,018,446 Building Garage Waste Golf Course Totals 4,389,233 3,284,886 13,687,561 $ 77,158 $ 323,790' $ 442,844 $ 45,033 $ 888,825 126,705 531,713 727,216 338 -1,385,972 161 676 1,375 259 2,471 559 1,266 442,607 - 444,432 - - 4,333 - 4,333 - 18,073 18,073 551,638 551,698 41 - 41 1,806,612 - 1,806,612 - 202,630 202,630 67 - 67 204,583 .857,445 3,425,095 817,971 5,305,094 - 1,132,020 - 448,469 1,580,489 88,064 3,731,330 964,138 2,018,446 6,801,978 88,064 4,863,350 964,138 2466,915 8,382,467 292,647 5,720,795 4,389,233 3,284,886 13,687,561 Deferred outflows of resources: Unamortized loss on refunding - - - 3,528 3,528 Unamortized loss on sale /leaseback - 11687,948 1,687,948 Total deferred outflow of resources 1,687,948 3,528 1,691,476 (Continued on next page) N CD W CITY OF SOUTH BEND COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS December 31, 2012 (Continued) Liabilities Current liabilities: Accounts payable Interfund payables: Interfund services provided and used Accrued payroll payable Compensated absences payable Performance deposits payable Current liabilities payable from restricted assets: Revenue bonds payable Capital leases payable Accrued interest payable Total current liabilities Consolidated Parking Solid Blackthorn Building Garage Waste Golf Course Totals 1,752,694 1,752,694 Capital leases payable 43,751 - 1,510 92,073 142,016 1,744 237,343 1,453 - 53,664 167 55,264 26,211 - 51,386 - - 77,597 46,402 - 55,544 - 101,946 37,437 - - - 37,437 - - - 617,B60 617,860 13,680 - 256,588 49,183 319,451 166 12,322 11,252 23,740 126,859 92,073 571,520 680,206 1,470,658 Noncurrent liabilities: Advances from other funds - - 1,752,694 1,752,694 Capital leases payable 43,751 - 2,151,470 105,930 2,301,151 Total noncurrent liabilities 43,751 2,151,470 1,856,624 4,053,845 Total liabilities 170,610 92,073 2,722,990 2,538,830 5,524,503 Deferred inflows or resources: Unamoritzed gain on sale /leaseback - 1.2,584 - 12,584 Net Position Net investment in capital assets 30,633 4,863,350 362,692 1,693,942 6,950,617 Restricted for debt service - - - 543,914 543,914 Restricted for capital asset outlays 108 - 108 Unrestricted 91,404 2,440,736 1,303,443 (1,488,272) 2,347,311 Total net position $ 122,037 $ 7,304,086 $ 1,666,243 -$--7-4-9 ,584 $ 9,841,950 N O -P CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION NONMAJOR ENTERPRISE FUNDS For the Year Ended December 31, 2012 Operating revenues: Licenses and permits Parking fees Solid waste fees Golf course fees Other Total operating revenues Operating expenses: Operating and maintenance Administrative and general expense Depreciation Total operating expenses Operating income (loss) Nonoperating revenues (expenses): Interest and investment revenue Interest expense Amortization expense Total nonoperating revenue (expenses) Income (loss) before contributions and transfers Contributed capital Transfers in Transfers out Change in net position Total net position - beginning Total net position - ending Consolidated Parking Solid Blackthorn Building Garage Waste Golf Course Totals $ 988,858 $ $ $ $ 986,858 - 920,449 - - 920,449 - 4,742,894, - 4,742,894 - - 1,669,372 1,669,372 11,523 595 339,097 - 351,215 1,000,381 921,044 5,081,991 1,669,372 8,672,788 874,506 - 4,497,254 1,462,485 6,834,245 19,344 950,341 336,228 161,269 1,467,182 14,907 210,974 254,893 158,750 639,524 908,757 1,161,315 5,068,375 1,782,504 8,940,951 91,624 (240,271) (6,364) (113,132) (266,163) 460 4,138 6,427 2,352 13,377 (619) (30,431) (59,494) (90,544) (560,340) - - (560,340) (159) (556,202) (24,004) (57,142) (537,507) 91,465 (796,473) (30,388) (170,274) (905,670) 32,866 - 32,866 - 651,500 651,500 (657,593) (657,593) 91,465 (796,473) 2,478 (176,367) (878,897) 30,572 8,100,559 1,663,765 925,951 10,720,847 $ 122,037 $ 7 304,086 $ 1,666,243 $ 749,584 $ 9,841,950 CITY OF SOUTH BEND COMBINING STATEMENT OF CASH FLOWS - NONMAJOR ENTERPRISE FUNDS For the Year Ended December 31, 2012 Consolidated Parking Solid Blackthorn Building Garage Waste Golf Course Totals Cash flows from operating activities: Receipts from customers and users $ • 1,009,688 $ 919,842 $ 5,070,260 $ 1,669,372 $ 8,669,162 Payments to suppliers (18,168) (890,060) (1,390,703) (1,599,133) (3,898,064) Payments to employees (773,684) - (2,185,512) - (2,959,196) Payments for interfund services used (58,926) . (20,760) (1,295,587) (24,627) (1,400,100) Net cash provided (used). by operating activities 158,910 9,022 198,458 45,412 411,802 Cash flows from noncapital financing activities: -- Transfers from other funds - - - 651,500 651,500 Transfers to other funds (657,593) (657,593) Net cash provided (used) by noncapitat financing activities (6,093) (6,093) Cash flows from capital and related financing activities: fV Acquisition and construction of capital assets (18,121) (73,127) (6,400) - (97,648) O Proceeds from capital debt Issued - 1,806,612 - 1,806,612 01 Principal paid on capital debt (6,351) - (248,451) (636,822) (891,624) Interest paid on capital debt (485) - (23,313) (43,921) (67,719) Payments on advances from other funds - - - (7,229) (7,228) Net cash provided (used) by capital and related financing activities (24,957) (73,127) 1,528,448 (687,972) 742,392 Cash flows from investing activities: Investments sold (79,311) - - 668,200 588,889 Investments purchased - 92,032 89,096 (202,968) (21,840) Interest received 369 4,389 6,877 3,089 14,724 Net cash provided (used) by investing activities (78,942) 96,421 95,973 468,321 581,773 Net decrease in cash and cash equivalents 55,D11 32,316 1,822,879 (180,332) 1,729,874 Cash and cash equivalents, January 1 (Including $723,753 and $5,041 for the revenue bond covenants and capital outlays, respectively, reported in 22,147 291,474 426,618 777,003 1,517,242 restricted accounts) Cash and cash equivalents, December 31 (Including $551,638 and $41 for the revenue bond covenants and capital outlays, respectively, reported in $ 77,156 $ 323,790 $ 2,249,497 $ 596,671 $ 3,247 ,116 restricted accounts) (Continued on next page) CITY OF SOUTH BEND COMBINING STATEMENT OF CASH FLOWS - NONMAJOR ENTERPRISE FUNDS For the Year Ended December 31, 2012 (Continued) Reconciliation of operating income (loss) to net cash provided by operating activities: Operating income (loss) Adjustments to reconcile operating income (loss) to net cash provided by operating activities: Depreciation expense Bad debt expense Lease proceeds used for non capital purchases (Increase) decrease in assets: Accounts receivable Interfund receivable Inventories Prepaid items Increase (decrease) in liabilities: Accounts payable Interfund payable Accrued payroll payable Compensated absence payable Taxes payable Performance bonds payable Total adjustments Net cash provided (used) by operating activities Noncasti investing, capital and financing activities: Capital assets contributed Capital assets acquired by capital debt Consolidated Parking Solid Blackthorn Building Garage Waste Golf Course Totals $ 91,624 $ (240,271) $ (6,364) i___(113,132 $ (268,163) 14,907 210,974 254,893 - 158,750 539,524 _ - 68,479 - 68,479 _ - 17,323 - 17,323 641 (1,202) (80,210) - (80,771) 8,666 - - - 8,665 _ _ - 4,581 4,581 - _ _ 3,184 3,164 1,257 39,621 (41,926) (6,855) (8,003) (693) - (20,637) (827) (22,157) 1,366 - (1,539) - (173) 3,705 - 8,459 - 12,164 _ - (289) (289). 37,437 - - - 37,437 67,286 249,293 204,842 158,544 679,965 $ 158,910 $ 9,022 $ 198,458 $ 45,412 $ 411,802 $ - $ - $ 32,866 $ - $ 32,866 27,482 - - 27,482 0 Tf U PEACE �fe r a 1865 V Internal Service Funds 207 INTERNAL SERVICE FUNDS Liability Insurance Premium Reserve - To account for expenses related to maintaining the City's self - funded liability insurance including administrative costs, claims, and premiums. Funding is provided by assessments to certain other City funds. Self- Funded Employee Benefits - To account for employer and employees' contributions for a medical insurance plan. Central Services - To account for expenses related to fuel, vehicle repairs, and various supplies provided to the City departments on a cost - reimbursement basis. Police Take -Home Vehicle - To account for expenses associated with claims arising from use of program vehicles occurring while officers are not on duty. Funding is provided by officers participating in the program. Unemployment Compensation Insurance - To account for payment of unemployment claims to the Indiana Department of Workforce Development. Financing is provided by allocating costs to user departments to cover the estimated costs of claims. 208 A CITY OF SOUTH BEND COMBINING STATEMENT OF NET POSITION - INTERNAL SERVICE FUNDS December 31, 2012 Liability Self - Insurance Funded Police Unemployment Premium Employee Central Take Home Compensation Reserve Benefits Services Vehicle Insurance Totals Assets Current assets: Cash and cash equivalents $ 1,985,417 $ 2,827,844 $ 412,819 $ 148,300 $ 27,467 $ 5,401,847 Investments 3,260,356 4,600,856 677,912 243,532 45,104 8,827,760 Interest receivable 4,147 5,854 862 310 57 11,230' Accounts receivable 161 282,213 32,430 - - 314,804 Interfund receivables: Interfund services provided and used - - 539,535 - - 539,535 Inventories - 802,540 - - 802,540 Total current assets 5,250,081 7,716,767 2,466,098 392,142 72,628 15,897,716 Capital assets: Other capital assets (net of accumulated depreciation) 26,558 - 1,392,349 - - 1,418,907 Total assets 5,276,639 7,716,767 3,858,447 392,142 72,628 17,316,623 Liabilities Current liabilities: Accounts payable 13,646 893,943 442,493 14,436 1,364,518 Interfund payables: Interfund services provided and used 128 - 294 - - 422 Accrued payroll payable 5,517 - 79,968 - 85,485 Compensated absences 9,950 - 116,458 - - 12$,408 Capital leases payable - - 4,758 - - 4,758 Interest payable - - 178 - 178 Estimate of unfiled claims 5,584,476 100,000 - 5,684,476 Total current liabilities 5,613,717 993,943 644,149 - 14,436 7,266,245 Noncurrent liabilities: Capital leases payable - - 9,066 - 9,066 Total liabilities 5,613,717 993,943 653,215 14,436 7,275,311 Net Position Investment in capital assets - - 1,392,349 - - 1,392,349 Unrestricted (337,078) 6,722,824 1,812,883 392,142 58,192 8,648,963 Total net position $ (337,078) $ 6,722,824 $ 3 205,232 $ 392,142 $ 58,192 110. 041,312 CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION INTERNAL SERVICE FUNDS For the Year Ended December 31, 2012 Operating revenues: Employee /employer contributions Charges for sales and services Other Total operating revenues N Operating expenses: Operation and maintenance C3 Administration Insurance claims and premiums Depreciation Total operating expenses Operating income (loss) Nonoperating revenues (expenses): Interest and investment revenue Interest expense Total nonoperating revenue (expenses) Change in'net position Total net position - beginning Total net position - ending Liability Self - Insurance Funded Police Unemployment Premium Employee Central Take Home Compensation Reserve Benefits Services Vehicle Insurance Totals $ 2,922,356 $ 11,034,878 $ - $ 126,373 $ 274,939 $ 14,358,546 - - 6,753,115 - 6,753,115 21,917 - - 21,917 2,944,273 11,034,878 6,753,115 126,373 274,939 21,133,578 - - 6,307,079 - - 6,307,079 359,873 452,924 192,857 65,000 - 1,070,654 5,155,318 12,192,449 - 7,769 193,201 17,548,737. . 5,386 83,496 - - 88,884 5,520,579 12,645,373 6,583,432 72,769 193,201 25,015,354 (2,576,306) (1,610,495) 169,683 53,604 81,738 (3,881,776) 21,772 36,981 4,253 1,699 141 64,846 (3,235) (3,235) 21,772 36,981 1,018 1,699 141 61,611 (2,554,534) (1,573,514) 170,701 55,303 81,879 (3,820,165) 2,217,456 8,296,338 3,034,531 336,839 (23,687) 13,861,477 $ (337,078) $ 6,722,824 $ 3,205,232 $ 392,142 , $ 58,192 $ 10,041,312 N j f CITY OF SOUTH BEND COMBINING STATEMENT OF CASH FLOWS - INTERNAL SERVICE FUNDS For the Year Ended December 31, 2012 Cash flows from operating activities: Receipts from customers and users Receipts from interfund services provided Payments to suppliers Payments to employees Payments for interfund services used Net cash provided (used) by operating activities Cash flows from noncapital frnancing'activities: Interfund loan payments Cash flows from capital and related financing activities: Acquisition and construction of capital assets Principal paid on capital debt Interest paid on capital debt Net cash provided (used) by capital and related financing activities Cash flows from investing activities: Sale of investments Purchased of Investments Interest received Net cash provided (used) by investing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents, January 1 Cash and cash equivalents, December 31 Liability Self - 3,965 - - 1,409,103 Insurance Funded. - Police Unemployment (272,139) Premium Employee, Central Take Home Compensation 68,455 Reserve Benefits Services Vehicle Insurance Totals (34,373) 1,205,419 $ 21,795 $ 631,395 $ 69,993 $ 126,373 $ - $ 849,556 735,669 10,403,483 6,716,362 - 274,939 18,130,453 7,957 (12,321,684) (350,098) - (193,066) (12,856,891) 5,260 - (2,422,410) - (2,417,150) (181,352) (3,749,960) (75,842) (4,007,154) 770,681 (1,468,158) 263,887 50,531 81,873 (301,186) v (25,000) (25,000) (170,359) (170,359) (4,428) - (4,428) (3,290) - (3,290) (178,077) - (178,077) - 1,405,138 3,965 - - 1,409,103 (225,557) - - (12,108) (34,474) (272,139) 22,139 40,077 4,405 1,733 101 68,455 (203,418) 1,445,215 8,370 (10,375) (34,373) 1,205,419 567,263 (22,943) 94,180 40,156 22,500 701,156 1,418,154 2,850,787 318,639 108,144 4,967 4,700,691 $ 1,985,417 $ 2,827,844 $ 412,819 $__148300 $ 27,467 $ 5,401,847 (Continued on next page) CITY OF SOUTH BEND - 83,495 - COMBINING STATEMENT OF CASH FLOWS - INTERNAL SERVICE FUNDS (122) For the Year Ended December 31, 2012 4,329 - - 1,905 (Continued) 28,911 - Liability Self - - Insurance Funded Police Unemployment Premium Employee Central Take Home Compensation Reserve Benefits Services Vehicle Insurance Totals Reconciliation of operating Income (loss) to net cash 876 - provided (used) by operating activities: - 2,756 4,364 Operating income (loss) $ (2,576,306) $ (1,610,495) $ 169,683 $ 53,604 $ 81,738 $ (3,881,776) Adjustments.to reconcile operating income (loss) to N net cash provided (used) by operating activities: Depreciation expense IV (Increase) decrease in assets: Accounts receivable Interfund receivables Inventories Increase (decrease) in liabilities: Accounts payable Interfund payables' Accrued payroll payable Compensated absences payable Estimated unfiled claims Total adjustments Net cash provided (used) by operating activities Noncash investing, capital and financing activities; - Capital assets contributed Accumulated depreciation on contributed assets 5,388 - 83,495 - 88,884 (122) (2,302) 4,329 - - 1,905 - 28,911 - - 28,911 - (23,124) - - (23,124) 8,087 145,235 (5,186) - 135 148,269 (130) (596) (2,205) (3,073) - (6,004) 876 - 1,880 - - 2,756 4,364 6,105 - - 10,489 3,328,604 - - 3,328,504 3,346,987 142,337 94,204 (3,073) 135 3,580,590 $ 770,681 $ _C1468,158) $ 263,887 $ 50,531. $ 81,873 $ (301,186) $ - $ - $ 16,000 $ - $ $ 16,000 - - (16,000) - (16,000) U TI U PEACE �fe r a 1865 VI Fiduciary Funds 213 FIDUCIARY FUNDS PENSION TRUST FUNDS 1925 Police Pension - To account for the provision of retirement and disability benefits to police officers hired prior to May 1, 1977. Financing is provided by mandatory contributions by active members and state pension relief distributions AGENCYFUNDS Payroll - To account for the payroll of City employees and pension benefits of the Police and Firefighters' Pension Funds, Gross payroll and pension benefits are treated as expenditures in other City funds and transferred into this fund, which serves as a clearing account. Morris Palais Royale Box Office - To account for Morris Entertainment Center and Palais Royale event advance deposits and related expenses. 214 Na Cn CITY OF SOUTH BEND COMBINING STATEMENT OF FIDUCIARY NET POSITION - PENSION TRUST FUNDS December 31, 2012 Assets Cash and cash equivalents Investments Receivables: Interest Total assets Liabilities Current liabilities: Accounts payable Accrued payroll payable Total liabilities Net Position Net position held in trust for: Employees' pension benefits 1937 Total 1925 Police Firefighters' Pension Pension Pension Trust Funds $ 873,828 $ 510,174 $ 1,384,002 1,434,957 837,783 2,272,740 11825 1,066 2,891 2,310,610 1,349,023 3,659,633 88 72 160 620 620 88 692 780 $ 2,310,522 $ 1,348,331 1 3,658,853 N Cr) CITY OF SOUTH BEND COMBINING STATEMENT OF CHANGES IN FIDUCIARY NET POSITION - PENSION TRUST FUNDS For the Year Ended December 31, 2012 1937 Total 1925 Police Firefighters' Pension Pension Pension Trust Funds Additions Contributions: On behalf $ 6,731,620 $ 5,233,388 $ 11,965,008 Plan members 2,278 - 2,278 Other 10,621 1,723 12,344 Total contributions 6,744,519 5,235,111 11,979,630 Net investment income: Interest 5,906 3,531 9,437 Total additions 6,750,425 5,238,642 11,989,067 Deductions Benefits 6,595,376 5,607,198 12,202,574 Administrative expense 11,286 1,279 12,565 Total deductions 6,606,662 5,608,477 12,215,139 Change in net position 143,763 (369,835) (226,072) Net position - beginning 2,166,759 1,718,166 3,884,925 Net position - ending $ 2,310,522 $ 1,348,331 $ 3,658,853 N v CITY OF SOUTH BEND STATEMENT OF CHANGES IN ASSETS AND LIABILITIES - AGENCY FUNDS For the Year Ended December 31, 2012 Assets: Cash and cash equivalents, January 1 Additions Deductions Cash and.cash equivalents, December 31 Investments, January 1 Additions Deductions Investments, December 31 Total assets, December 31 Liabilities Accrued payroll and withholdings payable, January 1 Additions Deductions Accrued payroll and withholdings payable, December 31 Customer deposits, January 1 Additions Deductions Customer deposits, December 31 Total liabilities, December 31 ' Morris Total Palais Royale Agency Payroll Box Office Funds $ 402,250 $ 889,973 $ 1,292,223 96,698,016 1,428,843 98,126,859 (96,045,901) (935,510) (96,981,411) 1,054,365 1,383,306 2,437,671 860,343 - 860,343 (860,343) - (860,343) $ 1,054,365 $ 1,383,306 $ 2,437,671_ $ 1,262,593 $ - $ 1,262,593 96,698,016 - 96,698,016 (96,906,244) - (96,906,244) 1,054,365 - 1,054,365 - 889,973 889,973 1,428,843 1,428,843 (935,510) (935,510) 1,383,306 _ 1,383,306 $ 1,054,365 $ 1,383,306 $ 2,437,671 U TI U PEACE �fe r a 1865 VII Statistical Section 218 FINANCIAL TRENDS These schedules contain trend information to help the reader understand how the City of South Bend's financial position and performance have changed over time. 219 roil 00 00 �c V oo l- r- 7 00 l- N l- �0 7 0) V 00 't N 7--� 00 l- N H a, M I D1 r- M N r 000 O M O V 000 0 0 O O l� O l� lD N N o0 l� 0 N 00 .--i 10 M C, N N O, V V r O, C) r- N O 7 Vn N N ;; V1 -n 00 01 O 00 an � N n m 0 0 �N N a N oNO O O �+ N O kn r M N 00 Iz N c C y O e� l- N �O In M 00 N m O O a M V1 V1 7 --i O a n V1 1p O N Vl o0 o0 N un a V1 N 01 lc� V1 M C .yi p 00 Vi V 00 r- N l� l� �c l- r C pro N O N N 01 N N O N CA H C [u O� M W 0 0 O �' V1 V1 �O "0 O 00 V O V1 7 �O py N N ll: - 01 l- V1 N N 01 c` pl r M h M 7 000 C p l� Cl, o0 oo Cl, v) �0 O r U N Vi �O �O oo l 00 O V V M N 1.0 M N H N 00 01 l� V1 'ii s V1 \( M N oo0 M r o00 oM0 14 O V O V O V p 00 �0 I O r h 7 In N Ix p M 01 N lO M N O 1O r N f` N r- .-r C, oo M M D; v) O V'1 a In 10 N O '. r a, N O — V � r- l N 00 O ' r - 7 000 V1 00 'n p N M O l� V 7 Go r r o0 O N .-i gyp" ,--i CD N 7 N 0, M O H N M N 7 p p p N N tJ 4^ a+ W a+ W y C C vi p vi p vi a.. a� �C V O U O 0 i d am y ro b 220 V'1 l- V1 r r M M O1 00 O O W l� M Vl N N N N 01 Cl, 7 M ll0 7 N 0 In �-. 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0 O 0 O 0 O 0 O - 1-0 0 O 0 O 0 O — r— kn a, O O O O O O O O O O kr) O, �o O O O O O O l— O O O l— M O O O O O M ^� v7 N N O 00 kr N O l-- kr — r-� 00 C M C Clzl O N kr 00 O� N O 00 O O kr 00 O O v1 -� `O `O 00 `O M 00 It M M � -- N a1 l� ,6 M M N 00 O N tr N C1 O M kr 00 M M N N M 69 69 69 64 64 pp N r O pp U� rq O Cd N O O O O O O ON 0 cd 0 0 O r O 4-4 O O a O O 4� O 4-4 O 4-4 O 4-4 O 4-4 O 4� O 4-4 O 4- O O N�-4 O O N O N O O N O N cci fy scz O Fi O O fy �C O O O O O O O O O O O O .�� •� •� v0� •a v0 •a O m O m .a O m O w� oaaawwwww > > 4�4 O 5 r3 W O od 1� O O O O O O O Q cud � aQ aQ aQ aQ aQ aQ aQ i.-I � � � � � C 'A � � � � � � � � M� vA Jam-+ � Jam-+ H1 +� +� : 1�D� w Cd : CC �: M 3 Cz Cz 3 Cz 3 HJ � n a C A C A C A C A C A C A C A C A 5 I 19 4 H H 255 W W A W sW-1 N oo \° 0 .M� 0 p O O V a G� C c� O 05 O � N G�1 � y Q C4- O O 4-r � O � cn � U Q � Q O t sW-1 w N b4 'd N O V1 O V U G� bA G� O U G� V WN L u 'd cd ,O N Q O 7N G CA N W a� a� 03 c� ,o a� a a� Q 0 03 a� 257 N V1 N Q c� a� 0 U W 0 0 00 M 0 ct 0 W" N N ooc M O M `O L u 'd cd ,O N Q O 7N G CA N W a� a� 03 c� ,o a� a a� Q 0 03 a� 257 N V1 N Q c� a� 0 U W 0 0 00 M 0 ct 0 W" O H O z A A z H O �I O U 0 bl9 a� C a� H C O Oa V V �O w x C� rO V O O C A O U � � Q �o O � �b o U N ~ r'" N NOr O � ti a Q CA 0 ,O N U 69 69 bf3 64 69 69 69 b4?3 r n H} b9 O O O O O O O O O O O N N N N N N N N N N N 258 M_ O N O ct ct O U 11 r \° \° \° \° \° \° \° \° \° \° \° o1 0 0 0 0 0 0 0 0 0 0 0000 MMMMMMMMMMM Ile O 69 69 bf3 64 69 69 69 b4?3 r n H} b9 O O O O O O O O O O O N N N N N N N N N N N 258 M_ O N O ct ct O U 11 r \° \° \° \° \° \° \° \° \° \° \° MMMMMMMMMMM O M 00 00 00 00 00 00 00 00 00 00 V'1 M M M M M M M M M M 0o N N N N N N N N N N N N N N N N N N N N 69 69 bf3 64 69 69 69 b4?3 r n H} b9 O O O O O O O O O O O N N N N N N N N N N N 258 M_ O N O ct ct O U 11 r Z 0 a O U U A A Z W H I—I v ago 7 O M v� N o M N kn l— 00 d1 M N d1 (71, � I t— ^a 01 tt — 00 O V') O 00 O O M M y U M M -- N N tf) N�10 V> kr) tf) oo kr) Zt (71 tf) W U -- M 14:� It d1 d1 ri I 01 01 N M M N W w w M N �O ° v� o M N — 01 — It d1 It d1 cl� I t— ^a 01 tt — 00 O V') O 00 O O M M y U M M -- N N tf) N�10 V> kr) tf) oo kr) Zt (71 tf) cl -- \O M N M -- M 14:� It d1 d1 ri I 01 01 N M M N W w w M N �O ° O �C � 00 � O 00 01� v� o O O N M M kn O O O C) t— ^a \o M 0 — � kn O O kn Wn N O O r O 0 CIL -� CIL O ri r-�, O O M N �O ° O �C � 00 � O 00 01� 01 MW') 00 r- r O a o � U Q -- o0 � 6� o O 0 O O O O O O O C) t— 01 \o M 0 0 0 0 0 0 0 0 0 0 N O ~ N � 6� N O 0 O O O O O O O C) t— 01 \o M 6� N O O O O O O O O O C) t— 01 \o M 0 0 0 0 0 0 0 0 0 0 N O ~ N � �O 11O �C � �C � `O �c O 6� N O O O O O O O O O C) t— 01 \o M "o 001 �q oMC O N O ~ N � 6� $- N M W) "o r- oo a1 O -� N '-- -- -- -- -- -- -- -- N N N H a 0 U 3 0 U 0 N O O O O O O O O O C) N ll \o \O \o \O \o \O N O ~ N � a o � U � $- N M W) "o r- oo a1 O -� N '-- -- -- -- -- -- -- -- N N N H a 0 U 3 0 U 0 � U � c H w c g U ct c ct O U 260 O N O N N O c � U � o U C�3 ct o ct U ct Ct U � ct ct U � N U N ct a� ct °o M O N ct raw it ct U O O MCI � � W � N � � a� 0 � w W � 0 Mr�l V w � U � c H w c g U ct c ct O U 260 O N O N N O c � U � o U C�3 ct o ct U ct Ct U � ct ct U � N U N ct a� ct °o M O N ct raw it ct U O O DEMOGRAPHIC AND ECONOMIC INFORMATION These schedules present various demographic and economic indicators to help the reader understand the environment within the City of South Bend that affects the City's financial activities. 261 U A H W � �Uz oa� W A v O y O O U U a � H "p O w aCi s0 O � � y U U o a w G oa � C„) 7 O y �+ m O O iU. L U U a � H 'O O Ci i a+ U r � U U � � a C y U Cd L L p.i C ii s0. p V H CX G m Y O p.� C w+ y L L C4 C I.r C w y O � L U o 0 7 r- N 00 O �O V1 O\ O Wn O 00 O N O V) O O 00 � � n 00 7 O 7 01 N N X 0 0 0 a1 00 M M M M M M M M M M 0 0 0 0 0 0 0 0 0 0 00 O �O N N 00 7 N M M v� v� oo N N M M kn M M N M M M M M m m m m 0 0 0 0 0 0 0 0 0 0 00 N M �O N l� l� O\ N O N vi M 7 O 7 O� Vi O I- kn Wn w w \c �c C1 00 00 l� 00 00 00 00 O\ O\ 01 O\ O\ 0 0 0 0 0 0 0 0 0 0 O W) D, oo t- t- O N O n N -m-i 00 l0 O O C, o, O � �c � � 00 00 C, r- o, Cl M O O o M M m M t��� 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O �O M l- C1 kn N 00 00 00 7 O 7 kn �O O O\ �O �O �O n N n 7 O O\ ,--� ,--� ,--- In �n kn O O O O O O O O O O l- 00 O\ O_ 1� N_ O O O O O O O O O O O O O O O O O N N N N N N N N N N a•/ m .Q b vi 1 O ° N az �a �O U C U M Cl y. O 0 N � U N O �u o W O O y U U 3 o�o� ��0 GQ N .N , o N o � � o iN O �D on A. s J A O A � Z � w W a U W A 263 ;., O 'd v� Ct O o3 c� .4 I � c� O -O O R � � O ^ O y 4 4 4 01 O O H 01 0 0 0 0 0 0 0 0 0 0 it it U `O M oc 00 '--i 00 00 01) c Ic V 00 c 00 00 y C `O `O `O d1 `O �� N N M N M N (- C 0 0 0 0 0 0 0 0 0 0 a � � � A kn ^1 M —4 00 O V') O kn -� `O O N l� N `O -:t r-- O 00 00 .� CJ 00 00 M V) O\ M O\ N M � v A � O N O N O N O N O N O N O N O N O N O N 263 ;., O 'd v� Ct O o3 c� .4 I � c� O -O O R � � O ^ O ~ z ~ A W x U U ~ 264 O 0 U C/] N ^U' ct ct � N � O �z �M U� 0 N N N U ,b 'd � N v� O O c cn c N ct � b 3 "d c N cn v � � z C O O O O O O O O O O O O N M O v') � 110 00 E N O N d1 O O -t O N 00 O M `O O V1 O � � C a~ U �i ~ � N 00 N `O � oo O� � Oa z 0000000000 00 � � a�vi WO con C d1 d1 O O N N N N m Con r- r N 00 00 W N M 00 W'� kn O O oo M M 0 0 0o N N O O -- — N N N N N N N _ V1 C W o O � SO..i L7 ipr L7 O [� Vn V> 00 00 � � O\ 00 00 C� � � l� 00 00 DD DD d1 d1 d1 d1 01 � � ti bJJ bJJ it 00 C1 N N N N N N N N N N U 264 O 0 U C/] N ^U' ct ct � N � O �z �M U� 0 N N N U ,b 'd � N v� O O c cn c N ct � b 3 "d c N cn v � � z C 0 O � 3 C� bA � N O � M 4 V W A V W Cd a O w v, O a� zw H Ati O O y N � O N zw rA �Q w 0 --� N IO M C1 00 kr) � 0 0 0 0 0 0 0 0 0 0 0 o p l� V� C C V) O O O N O N N — N M �t V) \O r- oo C1 C� I I 0 0 0 0 0 0 0 0 o a l-- DD kn 00 1n C� l- O O rn 00 00 M N N — — -4 — 0 0 0 - - l� � N O M .--� � •-� � N ,O a3 > p U U U x a x c7 Col a C�7 C�7 U 0 O O O O kn r-i M ro 00 O � O N O N N 0 8 o � � U u Cd 5 "C a� `nom rA N O (4-4 C) �n z o ti QQ" c U�- CC 78 C GT^.v M O O N N_ O N W U O a O � o a o o Q U o w° U ° � 0 U Q., h �N Q O � O � OPERATING AND OTHER INFORMATION These schedules contain information about the City of South Bend's operations and resources to help the reader understand how the City's financial information relates to the services the City provides and the activities it performs. Included in this section is other non - required information that the City has determined is relevant and useful to the reader of the financial statements. 266 bA C v O is � CC � � v 4-r 1-0 U 0 N_ O N O N _O O N O O N Z+ O O O N � O N O O O N O O N O O N M O O N al-b �t l� — tf) — �lc O N t v') N 00 N N M M N O O H O O O l� O V7 � N M M �O N M 00 O In M lI1 M N O M N O 1.0 O O �O 01 N N V) N "zt �O o0 M V7 M � kn V7 l— l— 01 r- M `O 00 l— N N M M O N O M O O ^--+ 00 00 .-- a1 �10 In lI1 -- �O O 0 - v') N N ^� O O M 00 M V7 N 00 M O V7 O 00 r- C) O- OV) N O M 0� 00 O O M 01 N l� O M N �10 M O l— O O 00 M M 01 01 01 N l— O 00 O O O p 01 -- N 't 00 -- N 00 00 O 00 M 01 00 O N N N N 01 r- O in O O O O 00 00 + N v7 O N O l� k1l Oo oo N M N cli O O M — a1 -- N 01 —i M 110 41 .--i V'1 M N M— in M 00 l— C\ l— N kn r- O1 IC O O 00 00 O O N kn - [— I- Lr) zt O O O a, V) kr) N N 00 N r— Zt It � 00 V 1 IlD .7 f N "o kn N N I- O N kn 00 oc M O M O O V'1 r- v7 O 00 r- O O O r- � N kn N N N O 00 In M M kn M O N ^� M -� 00 00 N kn l— O N 00 O N O N r O O `O N r- N 00 -� \ O O 110 O C1 .--i 00 N O O � 00 In 'I --� N --� l M V7 kr D1 ^� M M O kn kn M r- 00 N O — kn 00 00 C) N r-- 00 O O \�o 01 M O O1 a1 \�o O O O `O 00 N N M N -4 t-- M N N V'1 M M V'i (V M O 00 U Ln a3 CC (:d N rA a cd V) 4 O cd y0 "O O cd 0 cd to V y 0 O Q. bA •0 Qm O O ii '� •, N O U s, m Cl cd N O O cd OOO .r'" O U U N O O 44 sU. 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F W F C1 275 Coveleski Stadium: Renovation of the Year Award Ballpark Digest, 2012 National League of Cities Gold Award for Municipal Excellence Northeast Neighborhood Revitalization, 2011 l�'�i Blackthorn Golf Club: 44th Best Municipal Course in U.S. Golf Week Magazine, 2013 Morris Performing Arts Center: Top 100 Venues Worldwide Pollstar Magazine, 2012 r�1 by `• i All- America City Award 2011 National Civic League, 2011 West Washington Neighborhood: 2012 Best Places to Live list This Old House Magazine, 2012 Bicycle Friendly Community (bronze designation) League of American Bicyclist, 2012 Tree City USA Community Dept. of Natural Resources, 16 Years Running Palais Royale: "Best of Weddings" Award TheKnot.com, 2013 City of South Bend Website — Honorable Mention 2012 MARCOM Awards ,l 111 /, www.SouthbendIN.gov South Bend, IN 1 %6S G I le �13 TH� PEACE ~ 1865 City of South Bend Contact Information: Office of the Mayor 574 235 9261 227 W. Jefferson Blvd. Suite 1400 South Bend, IN 46601 www.southbendin._gov