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2012 Redevelopment Authority & Building Corporation Report Final
�I r - ,i City of South Bend Redevelopment Authority and Building Corporation 2012 Financial Reports Prepared by - Department of Administration and Finance October 3, 2013 (Information obtained from the City of South Bend Comprehensive Annual Report (CAFR) for the year ended December 31, 2012) City of South Bend, Indiana Redevelopment Authority and Building Corporation Financial Statements December 31, 2012 ---------------------------- - - - - -- -City of South Bend Redevelopment Authority -------------------------------------- College Football Redevelopment Redevelopment Redvelopment Redevelopment Redevelopment Blackthorn Eddy Street Century Total South Bend Hall of Fame Bond Bond Bond Authority Authority Goff Course Commons Center Redvelopment Building Coporetion Debt Service Central Dev. Airport Taxable Palate Royale Debt Service General Enterprise Fund Construction Construction Authority Debt Service Balance Sheet Assets & Deferred Outflows Cash and cash equivalents $220,362 $0 $393,231 $657,025 $4,470,709 $11,901 $45,033 $0 $0 $5,798,261 $544,399 Restricted rash 0 0 0 0 0 0 754,268 0 0 754,268 0 Investments 357,050 0 645,745 1,078,934 0 19,544 338 0 0 2,101,611 0 Accounts receivable 0 0 0 0 0 0 0 0 0 0 0 Interest receivable 406 0 821 1,372 0 24 259 0 0 2,882 0 Prepaid Items 0 0 0 0 0 0 0 0 0 0 0 Inventories 0 0 0 0 0 0 18,073 0 0 18,073 0 Unamortized debt Issue Costs 0 0 0 0 0 0 3,528 0 0 3,528 0 Land and construction in progress 0 0 0 0 0 0 448,469 0 0 448,469 0 Other capital assets (net of accumulated depn) 0 0 0 0 0 0 2,018,446 0 0 2,018,446 0 Total assets 8, deferred outflows 577,818 0 1,039,797 1,737,331 4,470,709 31,469 3,288,414 0 0 11,145,538 544,399 Liabilities & Deferred Inflows Accounts payable 0 0 0 0 0 0 1,744 0 0 1,744 3,050 Interiund payable 0 0 533 890 0 0 167 0 0 11590 0 Taxes payable 0 0 0 0 0 0 0 0 0 0 0 Revenue Bonds payable 0 0 0 0 0 0 617,860 0 0 617,860 0 Capital leases payable 0 0 0 0 0 0 155,113 0 0 155,113 0 Accrued Interest Payable 0 0 0 0 0 0 11,252 0 0 11,252 0 Advances from Other Funds 0 0 0 0 0 0 1,752,694 0 0 1,752,694 0 Total liabilities 8, deferred inflows 0 0 533 890 0 0 2,538,830 0 0 21540,253 31050 Net $577,818 $0 $1,039,264 $1,736,441 $4,470,709 $31,469 $749,584 $0 $0 $8,605,285 $541,349 Fund Balance /Net Position Restricted 577,818 0 1,039,264 1,736,441 4,470,709 0 0 0 0 7,824,232 541,349 Assigned 0 0 0 0 0 31,469 0 0 0 31,469 0 Invested in capital assets, net of related debt 0 0 0 0 0 0 1,693,942 0 0 1,693,942 0 Restricted for debt service 0 0 0 0 0 0 543,914 0 0 543,914 0 Unrestricted 0 0 0 0 0 0 1,4( 88,272) 0 0 1,4( 88,272) 0 Total fund balance /net position $577,818 $0 $1,039,264 $1,736,441 $4,470,709 $31,469 $749,584 $0 $0 $8,605,285 $541,349 Income Statement Revenue Property taxes $1,133,205 $0 $0 $0 $0 $0 $0 $0 $0 1,133,205 $0 Intergovernmental 74,139 0 0 0 0 0 0 0 0 74,139 0 Golf course fees 0 0 0 0 0 0 1,669,372 0 0 1,669,372 0 Other 0 0 0 0 0 0 0 0 0 0 0 Interest earnings 0 1,879 5,001 7,392 5,603 144 0 280 0 20,299 70 Total revenue 1,207,344 1,879 51001 7,392 5,603 144 1,669,372 280 0 2,897,015 70 Expenditures /expenses Operations and maintenance 0 0 0 0 0 0 1,462,485 0 0 1,462,485 0 Administrative and general 0 0 0 0 0 0 161,269 0 0 161,269 0 Depreciation 0 0 0 0 0 0 158,750 0 0 158,750 0 Capital outlay - economic development 0 0 0 0 0 3,214 0 0 0 3,214 0 Capital outlay - culture and recreation 0 0 0 0 0 0 0 0 0 0 0 Debt service - principal 1,180,000 0 0 0 2,415,000 0 0 0 0 3,595,000 1,450,960 Debt service - interest and fiscal charges 158,228 0 0 0 2,431,269 0 0 0 0 2,589,497 860,983 Debt service - bond issuance costs 0 0 0 0 0 0 0 0 0 0 254,611 Total expenditures/expenses 1,338,228 0 0 0 4,846,269 3,214 1,782,504 0 0 7,970,215 2,566,554 Net revenue less expenditures /expenses (130,884) 1,879 51001 7,392 (4,840,666) (3,070) (113,132) 280 0 (5,073,200) (2,566,484) Other flnancina /nonoperatina items Transfers in 93,040 834 0 0 4,861,591 0 651,500 3,343 0 5,610,308 2,319,168 Transfers out 0 (825,509) (5,014) (7,414) (81,182) 0 (657,593) (2,310,088) 0 (3,886,800) 0 Interest revenue 0 0 0 0 0 0 2,352 0 0 2,352 0 Interest expense 0 0 0 0 0 0 (59,494) 0 0 (59,494) 0 Amortization expense 0 0 0 0 0 0 0 0 0 01 0 City of South Bend, Indiana Redevelopment Authority and Building Corporation Financial Statements December 31, 2012 ---------------------------- - - - - -- -City of South Bend Redevelopment Authority -------------------------------------- College Football Redevelopment Redevelopment Redvelopment Redevelopment Redevelopment Blackthorn Eddy Street Century Total South Bend Hall of Fame Bond Bond Bond Authority Authority Goff Course Commons Center Redvelopment Building Coporation Debt Service Central Dev. Airport Taxable Palais Royale Debt Service General Enterprise Fund Construction Construction Authority Debt Service Premium on debt issuance 0 0 0 0 0 0 0 0 0 0 1,236,364 Issuance of refunding bonds 0 0 0 0 0 0 0 0 0 0 13,595,000 Gain (loss) on disposition of assets 0 0 0 0 0 0 0 0 0 0 0 Payment to refunded bond escrow agent 0 0 0 0 0 0 0 0 0 0 (14,613,147) Total other Bnancing/nonoperating items 93,040 (824,675) (5,014) (7,414) 4,780,409 0 (63,235) (2,306,745) 0 1,666,366 2,537,385 Net changes in fund balances (37,844) (822,796) (13) (22) (60,257) (3,070) (176,367) (2,306,465) 0 (3,406,834) (29,099) Fund balance /net position - beginning 615,662 822,796 1,039,277 1,736,463 4,530,966 34,539 925,951 2,306,465 0 12,012,119 570,448 Fund balance /net position - ending $577,818 $0 $1,039,264 $1,736,441 $4,470,709 $31,469 $749,584 $0 $0 $8,605,285 $541,349 The Redevelopment Authority and Building Corporation are presented as blended component units in the City of South Bend 2012 Comprehensive Annual Financial Report. Redevlopment Authority Revenue - 2012 $1,133,205 Revenue Amount Percent Operations and maintenance $1,462,485 12.27% Property taxes $1,133,205 13.32% Intergovernmental 74,139 0.87% Charges for services 1,669,372 19.62% Interest earnings 22,651 0.27% Transfers in 5,610,308 65.93% Total Revenue $8,509,675 100.00% Redevelopment Authority Expenditures - 2012 3,886,80 i •Operations and maintenance O Depreciation ■Debt service - principal ■Transfers out 158,750 1,214 5,000 ■Administrative and general •capital outlay •Debt service - interest Expenditures Amount Percent Operations and maintenance $1,462,485 12.27% Administrative and general 161,269 1.35% Depreciation 158,750 1.33% Capital outlay 3,214 0.03% Debt service - principal 3,595,000 30.17% Debt service - interest 2,648,991 22.23% Transfers out 3,886,800 32.62% Total Expenditures $11,916,509 100.00% 4 Building Corporation Revenue - 2012 $70 $1,236,364 $2, 319,168 13,595,000 0Interest earnings ■ Premium on debt issuance 0Issuance of refunding bonds 0 Transfers in Revenue Interest earnings Premium on debt issuance Issuance of refunding bonds Transfers in Total Revenue Amount Percent $70 0.00% 1,236,364 7.21% 13,595,000 79.27% 2,319,168 13.52% $17,150,602 100.00% Building Corporation Expenditures - 2012 $254,611— $860,983 — $1,450,960 ■Principal OBond Issuance Costs 14,613,147 O Payment to refunded bond escrow agent O Interest Expenditures Amount Percent Principal Payment to refunded bond escrow agent Bond Issuance Costs Interest Total Expenditures $1,450,960 8.45% $14,613,147 85.06% $254,611 1.48% 860,983 5.01% $17,179,701 100.00% rn 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: 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) 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 $ 220,362 $ - $ 393,231 $ 189,914 $ 657,025 357,050 - 645,745 311,868 1,078,934 406 - 821 397 1,372 $ 577,818 $ - $ 1,039,797 $ 502,179 $ 1,737,331 533 890 533 690 577,818 - 1,039,264 502,179 1,736,441 577,818 - 1,039,264 502,179 1,736,441 $ 577,818 $ $ 1,039,797 $ 502,179 $ 1,737,331 Continued on next page V CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Debt Service South Bend Redevelopment Building TIF Erskine Authority Corporation Village Debt Service Debt Service Debt Service Totals Assets Cash and cash equivalents $ 4,470,709 $ 544,399 $ 561,093 $ 7,036,733 Cash with fiscal agent - - - - Investments - - 2,393,597 Receivables (net of allowances for uncollectibles): Interest - 2,996 Taxes - - - Accounts - - - Intergovernmental - Loans - - Interfund receivable: Interfund services provided and used - - - Advances to other funds - 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: Interfund services provided and used - 1,423 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 4,470,709 541,349 561,093 9,428,853 Total liabilities and fund balances $ 4,470,709 $ 544,399 $ 561,093 $ 9,433,326 Continued on next page CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2012 (Continued) Capital Projects Community TIF Revitalization TIF No. 1 - TIF No. 2 - TIF Leighton TIF - West Redevelopment Enhancement Southside Southside Downtown Plaza Washington General District Development Development Assets Cash and cash equivalents $ 1,076,226 $ 32,322 $ 170,982 $ 11,901 $ 223,587 $ 2,041,952 $ - Cash with fiscal agent - 18,468 - - - - - Investments 1,767,326 53,078 280,776 19,544 - 3,353,195 Receivables (net of allowances for uncollectibles): Interest 2,248 68 357 24 106 4,265 - Taxes - - 36,819 - - 12,275 - Accounts 27 1,100 - - Intergovernmental - - - - - - Loans 883,311 - - - - - Interfund receivable: Interfund services provided and used 890 - - Advances to other funds - - - - Property held for sale 5,542,079 - 436,690 - 105,000 - Total assets $ 9,272,107 $ 105,036 $ 925,626 $ 31,469 $ 328,693 $ 5,411,687 $ - ou Liabilities and Fund Balances Liabilities: Accounts payable $ 47,544 $ - $ 315 $ - $ - $ 129,456 $ - Accrued payroll payable - - - - - - Contracts payable - - 9,851 - - - Interfund payable: Interfund services provided and used . - - - Performance deposits payable 4,000 - - - - Other current payables 1,475 - - Advances from other funds - - Total liabilities 53,019 10,166 129,456 Fund balances: Nonspendable: Noncurrent loans receivable 699,310 - - Property held for resale 5,542,079 - 436,690 - 105,000 Advances to other funds - - - - - Restricted 2,977,699 105,036 478,770 - 223,693 5,282,231 Committed - - - - - - Assigned 31,469 - Unassigned - - Total fund balances 9,219,088 105,036 915,460 31,469 328,693 5,282,231 Total liabilities and fund balances $ 9,272,107 $ 105,036 $ 925,626 $ 31,469 $ 328,693 $ 5,411,687 $ Continued on next page 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: 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 Projects 22,068 $ 141,971 $ Total Certified Palais Royale Airport Urban Eddy Street Nonmajor Technology Historic Enterprise Commons Equipment Governmental Park Preservation Zone Construction Leasing Totals Funds $ 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 10,163,696 - - - 890 890 - - - 6,128,413 6,990,751 6,083,769 9,890,872 $ 2,263,137 $ 59,546 $ 375,405 $ $ 208,262 $ 58,457,524 $ 107,763,359 $ - $ - $ - $ $ 206,299 $ 810,011 $ 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 9,110,620 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 0 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 Redevelopment Redevelopment Coveleski Redevelopment College Football Bond - Bond - Bond Bond - Hall of Fame Central Airport Debt Service Palais Debt Service Development Taxable Reserve Royale $ 1,133,205 $ $ $ - $ 74,139 - - 1,879 5,001 2,217 7,392 1,207,344 1,879 5,001 2,217 7,392 . 1,180,000 158,228 - 1,338,228 (130,884) 1,879 5,001 2,217 7,392 93,040 834 - - - - (825,509) (5,014) - (7,414) 93,040 (824,675) (5,014) (7,414) (37,844) (822,796) (13) 2,217 (22) 615,662 822,796 1,039,277 499,962 1,736,463 $ 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 - Economic development 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 - - - Public safety - Highways and streets - - Economic development - Culture and recreation Total expenditures 4,846,269 2,566,554 490,436 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) (1,288,404) Fundbalances - beginning 4,530,966 570,448 901,6B3 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 Projects Community TIF Revitalization TIF No. 1 - TIF No. 2 - TIF Leighton TIF - West Redevelopment Enhancement Southside 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 396,000 - 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 - - - N Economic development - - - - - - - Culture and recreation - - - Debt service: Principal 128,395 - 775,000 - Interestandfiscalcharges 842,958 - 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 Otherfinancing 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) (224,1 D3) 1,272,130 (1•,4D1,014) Fundbalances - beginning 9,381,479 96,809 1,392,601 34,539 552,796 4,010,101 1,401,014 Fund balances - ending $ 9,219,088 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 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 - 653,185 653,186 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: General government 284,676 Public safety 2,833,387 Highways and streets - 7,189,523 ca Economic development 3,481,580 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 - - - - - - 13,595,00D 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 1,449,266 11,823 113,011 (2,306,465) (144,D07) (244,144) (3,701,495) Fundbalances - beginning 813,869 47,723 262,394 2,306,465 145,970 50,906,961 100,512,238 Fund balances - ending $ 2,263,137 $ 59,546 $ 375,405 $ - $ 1,963 $ 50,662,817 $ 96,B10,743 A CITY OF SOUTH BEND COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS December 31, 2012 Consolidated Parking Solid Blagkthorn Building Garage Waste Golf Course Totals Assets Current assets: Cash and cash equivalents $ 77,158 $ 323,790 $ 442,844 $ 45,033 $ 888,825 Investments 126,705 531,713 727,216 338 - 1,385,972 Interest receivable 161 676 1,375 259 2,471 Accounts receivable (net of allowance) 559 1,266 442,607 - 444,432 Interfund receivables: Interfund services provided and used - - 4,333 - 4,333 Inventories - - - 18,073 .18,073 Restricted assets: Cash and cash equivalents: Revenue bond covenant accounts - - - 551,638 551,638 Capital outlay accounts - 41 - 41 Cash with fiscal agent - - 1,806,612 - 1,806,612 Investments: Revenue bond covenant accounts - - - 202,630 202,630 Capital outlay accounts 67 67 Total current assets _ 204,583 857,445 3,425,095 817,971 5,305,094 t Noncurrent Assets: Capital assets: Land and construction in progress - 1,132,020 - 448,469 1,580,489 Other capital assets (net of accumulated depreciation) 88,064 3,731,330 964,138 2,018,446 6,801 978 Total noncurrent assets 88,064 4,663,350 964,138 2,466,915 8,382,467 Total assets 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 1,687,948 1,687,948 Total deferred outflow of resources 1,687,946 3,528 1,691,476 (Continued on next page) 8 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 Noncurrent liabilities: Advances from other funds Capital leases payable Total noncurrent liabilities Total liabilities Deferred inflows or resources: Unamoritzed gain on sale /leaseback Net Position Net investment in capital assets Restricted for debt service Restricted for capital asset outlays Unrestricted Total net position Consolidated Parking Solid Blackthorn Building Garage Waste Golf Course . Totals 1,510 92,073 142,016 1,744 237,343 1,453 - 53,664 167 55,284 26,211 - 51,386 - 77,597 46,402 - 55,544 - 101,946 37,437 - - - 37,437 - - - 617,860 617,860 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 - . - 1,752,694 1,752,694 43,751 - 2,151,470 105,930 2,301,151 43,751 2,151,470 1,858,624 4,053,845 170,610 92,073 2,722,990 2,538,830 5,524,503 1.2,584 - 12,584 30,633 4,863,350 362,692 1,693,942 6,950,617 - - - 543,914 543,914 - - 108 - 108 91,404 2,440,736 1,303,443 (1,488,272) 2,347,311 $ 122,037 $ 7,304,086 $ 1,666,243 $ 749,584 $ 9,841,950 8 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 19,344 Building Garage Waste Golf Course Totals $ 988,858 $ - $ - $ $ 988,858 - 920,449 - (57,142) 920,449 - - 4,742,894 _ (170,274) 4,742,894 - - - 1,669,372 1,669,372 11,523 595 339,097 651,500 351,215 (657,593) 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' 5,088,375 1,782,504 8,940,951 91,624 (240,271) (6,384) (113,132) (268,163) 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) (637,507) 91,465 (796,473) (30,386) (170,274) (905,670) - - 32,866 - 32,666 - - 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 10,720,8447 $ 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) (24,827) (1,400,100) Net cash provided (used).by operating activities 156,910 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: Acquisition and construction of capital assets (18,121) (73,127) (6,400) (97,646) Proceeds from capital debt issued - - 1,806,612 1,806,612 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) (7,229] 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 55,011 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 restricted accounts) 22,147 291,474 426,616 777,003 1,517,242 Cash and cash equivalents, December 31 (Including $551,638 and $41 for the revenue bond covenants and capital outlays, respectively, reported in restricted accounts) _$___77,_l 58 $ 323,790 $ 2,249,497 $ . 596,671 $ 3,247,116 (Continued on next page) 00 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 Noncash 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) $ (6,384) $ (113,132) $ (268,163) 14,907 210,974 254,893 _158,750 639,524 - - 68,479 - 68,479 - - 17,323 - 17,323 641 (1,202) (80,210) - (80,771) 8,666 - - 8,666 - - - 4,581 4,581 - - 3,184 3,184 1,257 39,521 (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 Supporting Schedules 19 City of South Bend, Indiana Conversion Worksheets December 31, 2012 FUND 313 HALL OF FAME DEBT SERVICE (completed 4/13/13 JHM) 12131112 12131112 Auditor's Prior Year Current Year CAFR Account Number Account Name Worksheet Adjustments Adjustments Balance Totals Notes 0000 101 00 00 CASH 574,438.99 0.00 (357,010.69) 217,428.30 0000 103 00 00 INVESTMENTS - CURRENT 0.00 0.00 357,050.21 357,050.21 Per Investment Summary TRUSTEE CASH 0.00 10,348.23 (7,414.54) 2,933.69 Per Trustee Accounting Summary, US Bank INTEREST RECEIVABLE 0.00 0.00 405.87 405.87 577,818.07 I/R 0000 271 00 00 FUND BALANCE (598,620.30) (17,042.42) 0.00 (615,662.72) (615,662.72) Per 12/31/11 CAFR 0000 311 00 00 GENERAL PROPERTY TAX (1,133,205.12) 0.00 0.00 (1,133,205.12) 0000 312 02 00 AUTO EXCISE (62,786.03) 0.00 0.00 (62,786.03) 0000 312 03 00 COMMERCIAL VEHICLE TAX (11,353.00) 0.00 0.00 (11,353.00) 0000 338 00 00 PILOT (TRANSFER IN) (93,039.96) 0.00 0.00 (93,039.96) 0000 360 00 00 MISCELLANEOUS REVENUE (5,900.00) 5,900.00 0.00 0.00 0000 361 00 00 INTEREST ON INVESTMENTS 0.00 794.19 (459.39) 334.80 (1,300,049.31) I /R, $13.91 per Trustee Accounting Summary, Invest. Summ 0401 472 37 02 CAPITAL LEASE PAYMENTS 1,329,715.42 0.00 (1,329,715.42) 0.00 See principal and interest below PRINCIPAL PAID 0.00 0.00 1,180,000.00 1,180,000.00 Per Trustee accounting summary INTEREST PAID 0.00 0.00 157,143.96 157,143.96 Per Trustee accounting summary 0401 472 38 03 PAYING AGENT FEES 750.00 0.00 0.00 750.00 1,337,893.96 0.00 0.00 0.00 0.00 0.00 N O Name Wells Fargo Operation & Reserve #10335701 South Bend Redevelopment Authority College Football Hall of Fame Include with Fund 313 Hall of Fame Conversion Worksheet December 31, 2012 Prepared - March 19, 2013 Wells Fargo Wells Fargo US Bank US Bank Sinking 2000 Escrow 2011 Refunding 2011 Refunding Fund Fund Sinking Fund Oper /Reserve Fund #10335700 #83665101 149536000 149536001 US Bank 2011 Refunding Expense Fund 149536002 US Bank 2011 Refunding Refunding Account 149536003 Total Refunding in 2011 Jan -Dec 2012 Jan -Dec 2012 Cash Balance at January 1, 2012 $0.00 $0.00 $0.00 $7,284.58 $3,063.65 $0.00 $0.00 $10,348.23 Debt Service Payment Received from City 0.00 0.00 0.00 1,329,715.51 0.00 0.00 0.00 1,329,715.51 Interest Earnings 0.00 0.00 0.00 8.83 5.08 0.00 0.00 13.91 Transfer In From Other Account 0.00 0.00 0.00 2,292.50 2,154.99 0.00 0.00 4,447.49 Principal Paid to Bondholders 0.00 0.00 0.00 (1,180,000.00) 0.00 0.00 0.00 (1,180,000.00) Interest Paid to Bondholders 0.00 0.00 0.00 (157,143.96) 0.00 0.00 0.00 (157,143.96) Trustee Fees Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Transfer Out To Other Accounts 0.00 0.00 0.00 (2,154.99) (2,292.50) 0.00 0.00 (4,447.49) Other 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash Balance at December 31, 2012 $0.00 $0.00 $0.00 $2.47 $2,931.22 $0.00 $0.00 $2,933.69 Summary Per Trustee Statements Adjustments PerCAFR Debt Service Payment Received from City 1,329,715.51 0.00 1,329,715.51 Account No. 313 - 0401 - 472 -37 -02 Interest Earnings 13.91 0.00 13.91 Transfer In From Other Account 4,447.49 (4,447.49) 0.00 Eliminate Principal Paid to Bondholders (1,180,000.00) 0.00 (1,180,000.00) Interest Paid to Bondholders (157,143.96) 0.00 (157,143.96) Transfer Out To Other Accounts (4,447.49) 4,447.49 0.00 Eliminate Other 0.00 0.00 0.00 $750 trustee fee paid by City Account No. 313 - 0401 - 472 -38 -03 Net (7,414.54) 0.00 (7,414.54) Beginning Cash - 1/1/12 10,348.23 0.00 10,348.23 Ending Cash - 12/31112 2,933.69 0.00 2,933.69 N N City of South Bend, Indiana Conversion Worksheets December 31, 2012 Account Number Account Name FUND 619 BLACKTHORN GOLF COURSE OPERATIONS (completed 4/15113 JHM) 12/31112 12/31112 Auditor's Prior Year Current Year CAFR Worksheet Adjustments Adjustments Balance Totals Notes 0000 101 00 00 CASH 544.21 0.00 (338.22) 205.99 0000 101 01 00 PETTY CASH 1,100.00 0.00 0.00 1,100.00 Petty Cash Summary 0000 103 00 00 INVESTMENTS - CURRENT 0.00 0.00 338.26 338.26 Per Investment Summary 0000 111 00 00 CASH WITH FISCAL AGENT 43,727.28 0.00 0.00 43,727.28 $43,727.28 per Kitson Bank Rec at 12/31/12 TRUSTEE CASH 0.00 411,885.91 16,358.70 428,244.61 Wells Fargo Trustee Statement CASH - FUND 319 312,217.46 0.00 (188,824.68) 123,392.78 Fund 319 conversion worksheet INVESTMENTS - FUND 319 668,134.23 0.00 (465,504.58) 202,629.65 Fund 319 conversion worksheet INTEREST RECEIVABLE - FUND 619 0.00 0.00 1.16 1.16 I/R INTEREST RECEIVABLE - FUND 319 0.00 0.00 257.73 257.73 Fund 319 conversion worksheet 0000 115 00 00 ACCOUNTS RECEIVABLE (4,907.35) 4,907.35 0.00 0.00 $0 per Kitson Trial Balance at 12/31/12 0000 117 00 00 PREPAID EXPENSE 3,000.00 0.00 (3,000.00) 0.00 $0 per Kitson Trial Balance at 12/31/12 0000 142 00 00 INVENTORY -GOLF PROSHOP 22,307.77 0.00 (4,359.80) 17,947.97 $17,947.97 Inventory Summary at 12/31/12 0000 144 00 00 CONCESSION INVENTORY 345.67 0.00 (220.67) 125.00 $125.00 Inventory Summary at 12/31/12 0000 149 10 00 UNAM DEBT ISSUE COSTS 5,057.99 0.00 (4,335.42) 722.57 Amortize $4,335.42 per year AMT OF LOSS ON REFUNDING 0.00 24,698.45 (21,170.09) 3,528.36 Amortize $21,170.09 per year UNAMORTIZED BOND DISCOUNT 0.00 6,420.35 (4,280.23) 2,140.12 Amortize $4,280.23 per year 0000 190 10 00 FIXED ASSETS 4,891,407.62 0.00 (5,449.60) 4,885,958.02 Per Capital Asset Summary 0000 190 15 00 LAND & CONTT IN PROGRESS 448,469.00 0.00 0.00 448,469.00 Per Capital Asset Summary 0000 190 20 00 ACCUMULATED DEPRECIATION (2,714,211.76) 0.00 (153,300.75) (2,867,512.51) 2,466,914.51 Per Capital Asset Summary 0000 202 00 00 ACCOUNTS PAYABLE 1,582.59 (1,582.59) (1,162.27) (1,162.27) $1,162.27 A/P per Kitson Trial Balance at 12/31/12 0000 202 40 00 A/P CENTRAL STORES (98.21) 98.21 0.00 0.00 0000 202 80 00 TEAMSTAFF/TIPS 0.01 (0.01) 0.00 0.00 0000 204 00 00 DUE TO OTHER FUNDS (5,990,000.04) 0.00 0.00 (5,990,000.04) Fund 324 - Airport TIF Gross Amount 0000 204 20 00 RESERVE FOR UNCOLLECT 3,648,750.06 0.00 651,500.00 4,300,250.06 (1,689,749.98) Fund 324 - Airport TIF Reserve Amount - $1,689,749.98 DUE TO FUNDS - FUND 319 0.00 0.00 (167.20) (167.20) Fund 319 conversion worksheets 0000 204 30 00 DUE TO FUND 324 EQUIPMENT LEASES (70,172.66) 0.00 7,228.92 (62,943.74) Debt Schedules #88 & #83 Airport Advances 0000 227 20 00 PAYABLE TO STATE 1,656.29 (2,245.34) 6.68 (582.37) $582.37 accrued sales tax due per Kitson 12/31/12 Trial Balance 0000 227 40 00 LEASE PAYABLE (0.32) 0.32 0.00 0.00 LEASE PAYABLE - PNC BANK 0.00 (201,935.24) 46,821.84 (155,113.40) Debt Schedule #75, $155,113.40 balance 10/1/12 REVENUE BOND 0.00 (1,210,000.00) 590,000.00 (620,000.00) Debt Schedule #10, $590,000 principal paid Wells Fargo ACCRUED INTEREST PAYABLE - BOND 0.00 (19,466.37) 9,490.95 (9,975.42) Debt Schedule #10 $14,880.00 x 120 / 179 = $9,975.42 ACCRUED INTEREST PAYABLE - PNC 0.00 (1,662.37) 385.45 (1,276.92) Debt Schedule #75 Nov & Dec interest accrual 0000 227 50 00 CUSTODIAL DEPOSITS 5,792.75 (5,792.75) 0.00 0.00 0000 232 01 04 LOAN PAYABLE (5,090,000.00) 5,090,000.00 0.00 0.00 0000 23201 05 Ln Pay, Reserve 5,090,000.00 (5,090,000.00) 0.00 0.00 750,304.69 0000 249 00 00 PR YR RES FOR ENCUMBRANCE (160,028.23) 0.00 0.00 (160,028.23) FUND BALANCE -FUND 319 (980,351.69) 0.00 0.00 (980,351.69) 0000 271 00 00 FUND BALANCE (796,998.46) 1,006,369.38 0.00 209,370.92 (931,009.00) Per 12/31/11 CAFR N w City of South Bend, Indiana Conversion Worksheets December 31, 2012 Account Number Account Name FUND 619 BLACKTHORN GOLF COURSE OPERATIONS (completed 4/15113 JHM) 12/31112 12/31112 Auditor's Prior Year Current Year CAFR Worksheet Adjustments Adjustments Balance Totals Notes Revenue 0000 361 00 00 INTEREST ON INVESTMENTS 0.00 1,033.37 (1.20) 1,032.17 I/R INTEREST EARNINGS - TRUSTEE 0.00 0.00 (28.70) (28.70) Trustee earnings 2012 Wells Fargo statement INTEREST EARNINGS - FUND 319 0.00 0.00 (3,354.86) (3,354.86) Fund 319 conversion worksheet 1065 347 01 19 LPGA COURSE FEES (76,850.00) 0.00 0.00 (76,850.00) 1065 347 01 20 GOLF COURSE GREEN FEES (607,673.33) 0.00 0.00 (607,673.33) 1065 347 01 22 GOLF CART RENTALS (106,635.72) 0.00 0.00 (106,635.72) 1065 347 01 23 PRO SHOP RETAIL SALES (200,777.97) 0.00 0.00 (200,777.97) 1065 347 01 25 DRIVING RANGE (37,770.25) 0.00 0.00 (37,770.25) 1065 347 01 26 GIFT CERTIFICATES (12,798.76) 0.00 0.00 (12,798.76) 1065 347 01 27 MEMBERSHIP (217,898.65) 0.00 0.00 (217,898.65) 1065 347 01 29 CLUB RENTAL (3,215.00) 0.00 0.00 (3,215.00) 1065 347 01 30 CONCESSION (247,283.12) 0.00 0.00 (247,283.12) 1065 347 01 31 INSTRUCTION (12,516.00) 0.00 0.00 (12,516.00) 1065 347 0141 OTHER GOLF (2,831.90) 0.00 0.00 (2,831.90) 1065 347 0143 TOURNAMENT SPONSORSHIPS (102,095.00) 0.00 0.00 (102,095.00) 1065 347 01 99 ADVERTISING REVENUE (41,107.56) 0.00 0.00 (41,107.56) 1065 347 99 00 CASH OVER/SHORT 303.40 (221.99) 0.00 81.41 TRANSFER IN (FUND 324) 0.00 0.00 (651,500.00) (651,500.00) (2,323,223.24) $651,000 Airport TIF 324 debt payment Expenditures Maintenance 1065 460 62 01 SALARIES 275,569.90 0.00 0.00 275,569.90 1065 460 62 02 PAYROLL OVERHEAD 31,211.08 0.00 0.00 31,211.08 1065 460 62 03 HEALTH INSURANCE 10,921.58 0.00 0.00 10,921.58 1065 460 62 05 TRAVEL ALLOWANCE 298.35 0.00 0.00 298.35 1065 460 62 06 PROF. EDUCATION 203.00 0.00 0.00 203.00 1065 460 62 07 DUES /SUBSCRIPTION 985.00 0.00 0.00 985.00 1065 460 62 08 UNIFORMS /CLOTHING 1,637.99 0.00 0.00 1,637.99 1065 460 62 10 FERTILIZER 27,727.04 0.00 0.00 27,727.04 1065 460 62 11 FUNGICIDES 30,020.12 0.00 0.00 30,020.12 1065 460 62 12 INSECTICIDES 10,488.25 0.00 0.00 10,488.25 1065 460 62 13 HERBICIDES 3,958.88 0.00 0.00 3,958.88 1065 460 62 14 HORTCULT. SUPPLY 10,214.97 0.00 0.00 10,214.97 1065 460 62 15 SEED 2,054.07 0.00 0.00 2,054.07 1065 460 62 17 SAND 9,808.74 0.00 0.00 9,808.74 1065 460 62 21 PLANT MATERIALS 454.80 0.00 0.00 454.80 1065 460 62 22 SOD 432.00 0.00 0.00 432.00 1065 460 62 23 SMALL TOOLS 579.50 0.00 0.00 579.50 1065 460 62 24 IRRIGATION REPAIR 11,417.70 0.00 0.00 11,417.70 1065 460 62 25 DRAINAGE SUPPLY 2,940.01 0.00 0.00 2,940.01 1065 460 62 26 FUEL/LUBRICANTS 32,333.62 0.00 0.00 32,333.62 1065 460 62 29 G.C. ACCESSORIES 5,338.42 0.00 3,000.00 8,338.42 $3,000 adjust prepaid expense to zero at 12/31/12 1065 460 62 31 EQUIPMENT REPAIRS 26,166.21 0.00 1,162.27 27,328.48 $1,162.27 A/P per Kitson Trial Balance at 12/31/12 1065 460 62 34 OFFICE SUPPLY 1,347.46 0.00 (6.68) 1,340.78 $6.68 adjustment to sales tax payable to agree with Kitson TB 1065 460 62 36 BUILDING MAINT. 2,495.35 0.00 0.00 2,495.35 1065 460 62 37 TREE TRIMMING 1,300.00 0.00 0.00 1,300.00 1065 460 62 39 UTILITY WATER 1,563.96 0.00 0.00 1,563.96 1065 460 62 40 UTILITY ELECTRIC 8,539.02 0.00 0.00 8,539.02 1065 460 62 42 TRASH REMOVAL 3,632.16 0.00 0.00 3,632.16 1065 460 62 43 MISCELLANEOUS 288.05 0.00 0.00 288.05 1065 460 62 46 UTILITY GAS 2,539.60 0.00 0.00 2,539.60 1065 460 62 47 CAPITAL EQUIP /IMPROV. 10,578.84 0.00 (7,228.92) 3,349.92 523,972.34 $7,228.92 adj #83 & #88 Fund 324 advances N City of South Bend, Indiana Conversion Worksheets December 31, 2012 Account Number Account Name FUND 619 BLACKTHORN GOLF COURSE OPERATIONS (completed 4/15113 JHM) 12/31112 12/31112 Auditor's Prior Year Current Year CAFR Worksheet Adjustments Adjustments Balance Totals Notes Administration 1065 460 63 02 PAYROLL OVERHEAD 90.22 0.00 0.00 90.22 1065 460 63 04 PAYROLL SERVICES 16,811.00 0.00 0.00 16,811.00 1065 460 63 10 ADVERTISING 37,160.22 0.00 0.00 37,160.22 1065 460 63 18 YELLOW PAGES/W EBSITE 4,340.00 0.00 0.00 4,340.00 1065 460 63 20 INSURANCE 8,079.50 0.00 0.00 8,079.50 1065 460 63 21 BANK CHARGES 1,038.43 (35.00) 0.00 1,003.43 1065 460 63 23 CITY ACCOUNTING FEE 24,000.00 0.00 0.00 24,000.00 1065 460 63 25 DUES & SUBSCRIPTION 835.55 0.00 0.00 835.55 1065 460 63 26 TELEPHONE SERVICE 10,391.17 0.00 0.00 10,391.17 1065 460 63 29 TV CABLE 3,607.46 0.00 0.00 3,607.46 1065 460 63 31 WATER/SEW ER 4,391.82 0.00 0.00 4,391.82 1065 460 63 32 GAS C.H. 5,426.17 0.00 0.00 5,426.17 1065 460 63 34 OFFICE SUPPLIES /EQUIP. 1,101.32 0.00 0.00 1,101.32 1065 460 63 37 STATIONERY /PRINTING 4,571.02 0.00 0.00 4,571.02 1065 460 63 38 POSTAGE /FREIGHT 2,524.49 0.00 0.00 2,524.49 1065 460 63 39 CREDIT CARD FEES 21,696.95 (341.58) 0.00 21,355.37 1065 460 63 40 SECURITY 1,033.00 0.00 0.00 1,033.00 1065 460 63 41 MISCELLANEOUS 0.00 (39.18) 0.00 (39.18) 1065 460 63 42 BUILDING MAINTENANCE 10,320.86 4.40 0.00 10,325.26 1065 460 63 43 VEHICLE LEASE 4,261.40 0.00 0.00 4,261.40 161,269.22 Proshop 1065 460 64 01 SALARIES 262,539.55 0.00 0.00 262,539.55 1065 460 64 02 PAYROLL OVERHEAD 24,118.06 0.00 0.00 24,118.06 1065 460 64 03 HEALTH INSURANCE 10,417.00 0.00 0.00 10,417.00 1065 460 64 05 DUES /SUBSCRIPTIONS 1,413.35 0.00 0.00 1,413.35 1065 460 64 06 TRAVEL ALLOWANCE 4,745.20 0.00 0.00 4,745.20 1065 460 64 07 PROF. EDUCATION 105.00 0.00 0.00 105.00 1065 460 64 08 UNIFORMS /CLOTHING 2,844.27 0.00 0.00 2,844.27 1065 460 64 10 COST OF GOODS SOLD 141,912.11 (12,440.99) 4,359.80 133,830.92 $4,349.80 Inventory Adjustment 1065 460 64 11 RANGE BALLS /SUPPLY 3,150.00 0.00 0.00 3,150.00 1065 460 64 13 RENTAL CLUBS 4,564.47 0.00 0.00 4,564.47 1065 460 64 14 GOLF CART PAYMENTS 56,421.00 0.00 (46,821.84) 9,599.16 $46,821.84 PNC lease #75 1065 460 64 15 GOLF CART ELECTRICITY 13,788.76 0.00 0.00 13,788.76 1065 460 64 16 GOLF CART MAINTENANCE 1,928.85 0.00 0.00 1,928.85 1065 460 64 17 HANDICAP SERVICE 2,978.50 0.00 0.00 2,978.50 1065 460 64 18 PRO SHOP SUPPLIES 2,970.19 0.00 0.00 2,970.19 1065 460 64 19 SCORECARDS 1,811.54 0.00 0.00 1,811.54 1065 460 64 24 GPS FEES 45,300.00 0.00 0.00 45,300.00 1065 460 64 30 TOURNAMENT EXP - LPGA 136,504.35 0.00 0.00 136,504.35 662,609.17 N City of South Bend, Indiana Conversion Worksheets December 31, 2012 Account Number Account Name FUND 619 BLACKTHORN GOLF COURSE OPERATIONS (completed 4/15113 JHM) 12/31112 12/31112 Auditor's Prior Year Current Year CAFR Worksheet Adjustments Adjustments Balance Totals Notes Concessions 1065 460 65 01 SALARIES 58,802.85 0.00 0.00 58,802.85 1065 460 65 02 PAYROLL OVERHEAD 9,352.84 0.00 0.00 9,352.84 1065 460 65 03 HEALTH INSURANCE 1,198.00 0.00 0.00 1,198.00 1065 460 65 08 UNIFORMS /CLOTHING 506.27 0.00 0.00 506.27 1065 460 65 10 COST OF GOODS SOLD 90,820.18 345.67 220.67 91,386.52 $220.67 inventory adjustment 1065 460 65 12 PAPER GOODS 2,418.22 0.00 0.00 2,418.22 1065 460 65 13 CLEANING SUPPLIES 455.60 0.00 0.00 455.60 1065 460 65 14 UTENSILS 81.09 0.00 0.00 81.09 1065 460 65 16 EQUIPMENT /SUPPLIES 3,100.86 0.00 0.00 3,100.86 1065 460 65 17 LINENS 1,001.52 0.00 0.00 1,001.52 1065 460 65 19 OUTING EXPENSE 1,261.68 0.00 0.00 1,261.68 1065 460 65 20 LICENSES & PERMITS 1,170.65 0.00 0.00 1,170.65 170,736.10 Other 0401 460 37 06 BUILDINGS 651,500.00 0.00 (651,500.00) 0.00 Lease Rental Paid to Wells Fargo 1065 460 66 10 FIXED FEE 96,000.00 0.00 0.00 96,000.00 1065 460 66 12 MGMNT. EXPENSE 7,917.44 0.00 0.00 7,917.44 INTEREST EXPENSE 0.00 0.00 43,920.00 43,920.00 $43,920.00 interest paid Wells Fargo INTEREST EXPENSE - ACC ADJ 0.00 0.00 (9,876.40) (9,876.40) Adjust accrued inerest $385.45 leases & $9,490.95 bond AMORTIZE LOSS ON REFUNDING 0.00 0.00 21,170.09 21,170.09 $21,170.09 per year AMORTIZE BOND DISCOUNT 0.00 0.00 4,280.23 4,280.23 4,280.23 per year BOND ISSUE COST AMORTIZATION 0.00 0.00 4,335.42 4,335.42 $4,335.42 per year TRUSTEE FEES 0.00 0.00 1,250.00 1,250.00 $1,250.00 trustee fee paid by Wells Fargo TRANSFER TO FUND 324 0.00 0.00 3,593.59 3,593.59 Fund 324 interest transfer to Fund 324 TRANSFER TO FUND 324 0.00 0.00 654,000.00 654,000.00 Fund 324 interest transfer to Fund 324 DEPRECIATION EXPENSE 0.00 0.00 158,750.35 158,750.35 Per Capital Asset Summary LOSS ON DISPOSAL 0.00 0.00 0.00 0.00 985.340.72 0'00 0.00 0.00 0.00 0.00 Includes fund 319, Wells Fargo summary, and certain accounts from Kitson balance sheet at 12/31/12 A City of South Bend Blackthorn Redevelopment Accounts - Fund 619 Conversion Worksheet December 31, 2012 Summary of Wells Fargo Trust Statements Funds 619 and 319 and these trustee statements combined into one fund for the CAFR. These amounts and Fund 319 are reported as investment cash on CAFR, #70395302 #70395300 Operation Bond & Reserve Sinking Totals Beginning Balance, January 1, 2012 $112,522.12 $299,363.79 $411,885.91 Interest earned 7.83 20.87 28.70 Lease Rental Paid from City Funds 0.00 651,500.00 651,500.00 Trustee Fees Paid to Well Fargo (1,250.00) 0.00 (1,250.00) Bond Principal Paid 0.00 (590,000.00) (590,000.00) Bond Interest Paid 0.00 (43,920.00) (43,920.00) Excess Lease Rental 0.00 0.00 0.00 Ending Balance, December 31, 2012 $111,279.95 $316,964.66 $428,244.61 City of South Bend Conversion Worksheet - Building Corporation Debt Service Accounts (Recorded in CAFR as a separate fund. Not in Navline or on Controller's Cash Report) December 31, 2012 Unadjusted CAFR Trial Balance Trial Balance Account Name 12131112 Adjustments 12/31/12 Cash - Police & Fire 8,421.32 0.00 8,421.32 Cash - Public Works Building, 87.7% of total 611,741.13 (75,763.38) 3 535,977.75 Cash - Wells Fargo - Defeasance Account 14,613,146.50 (14,613,146.50) 5 0.00 Accounts Payable 0.00 (3,050.00) 4 (3,050.00) Beginning Fund Balance, per CAFR 12/31/11 (645,645.41) 75,197.58 (570,447.83) Interest Income (69.64) 0.00 (69.64) Transfers In - From City Funds (2,402,500.00) 83,332.50 1 (2,319,167.50) Transfers In - From Building Corporation Accounts (60,161.90) 60,161.90 2 0.00 Bond Refunding Proceeds (14,831,364.35) 0.00 (14,831,364.35) Account Fees 4,000.00 0.00 4,000.00 Cost of Issuance on Refunding Bonds 250,560.45 3,050.00 4 253,610.45 Debt Service - Principal 1,510,000.00 (59,040.00) 1 1,450,960.00 Debt Service - Interest 881,710.00 (23,726.70) 1 857,983.30 Debt Service - Bond Redemption 0.00 14,613,146.50 5 14,613,146.50 Transfers Out - To Building Corporation Accounts 60,161.90 (60,161.90) 2 0.00 Other 0.00 0.00 0.00 Proof Total (0.00) 0.00 0.00 1 - eliminate Wastewater portion of Public Works Building COIT debt service and Transfer In of 12.3% account no. 641 - 0630 - 793 -37 -02 - $83,332.50 paid to Wells Fargo in lease payments in 2011. 2 - eliminate transfers in /transfer out from Building Authority Debt Service accounts for consolidation /conversion worksheet. 3 - allocate 12.3% of Building Corporation cash for Public Works Building to Wastewater trial balance. 4 - record 2012 Police & Fire bond issuance costs paid in 2013 in accounts payable 5 - eliminate 2012 Police & Fire Wells Fargo defeasance account balance (used for future debt service) City of South Bend Conversion Worksheet - Building Corporation Debt Service Accounts (Recorded in CAFR as a separate fund. Not in Navline or on Controller's Cash Report) December 31, 2012 Unadjusted CAFR Trial Balance Trial Balance Account Name 12131112 Adjustments 12/31/12 Wastewater Cash Summary (12.3% of PW Building Total): Beginning Cash - 1/1/12 (per prior year audit) 75,197.58 Lease Rental Paid by Wastewater 83,332.50 #641- 0630 - 793 -37 -02 Ck #431872 & 440372 Wastewater Principal Paid - $480,000.00 x 12.3% (59,040.00) Wastewater Interest Paid - $192,900.00 x 12.3% (23,726.70) Ending Cash - 12/31/12 75,763.38 Bond Issuance Costs - 2012 Police & Fire Refunding: Standard & Poors 15,000.00 Faegre Baker Daniels 38,631.95 Metroplitan Title 11,681.00 Crowe Horwath 40,000.00 US Bank 2,500.00 Assured Guaranty 74,772.50 Underwriter's Discount 67,975.00 Subtotal 250,560.45 L I Causey Demgen & Moore P.C. 2,500.00 paid 2/07/2013 US Bank trustee Standard & Poors - CUSIP numbers 550.00 paid 1/15/2013 US Bank trustee Total Bond Issuance Costs - paid by Bid Corp 253,610.45 Wells Fargo 1,000.00 City check no. 445967, 11/20/12 Total Bond Issuance Costs 254,610.45 City of South Bend, Indiana Building Corporation Transactions - Per Trustee Statements January 1, 2012 through December 31, 2012 Wells Fargo Wells Fargo Wells Fargo Defeasance 2010 COIT 2001 COIT 2010 Refunding Wells Fargo Wells Fargo Wells Fargo Wells Fargo 2010 Refunding 2010 Refunding Public Works 2003 Police /Fire 2003 Police /Fire 2003 Police /Fire 2012 Police /Fire Debt Reserve Sinking Fund Operation /Res. Sinking Fund Reserve Oper /Reserve Escrow Refunding 10835901 10835900 10835905 14873700 14873701 14873702 48187900 Jan -Oct 2012 Jan -Dec 2012 Jan -Oct 2012 Sep -Dec 2012 Balance @ January 1, 2012 $607,500.00 $114.72 $1,461.99 $73.40 $1.00 $36,494.30 $0.00 Receipts: Interest 64.29 0.03 0.10 0.05 0.00 2.54 0.00 Lease Payments from City 0.00 677,500.00 0.00 1,725,000.00 0.00 0.00 0.00 Contributions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Transfer From Other Accounts (1) 0.00 64.29 4,727.00 0.00 0.00 6,190.00 40,760.29 Refunding Proceeds 0.00 0.00 0.00 0.00 0.00 0.00 14,715,133.71 Total Receipts 64.29 677,564.32 4,727.10 1,725,000.05 0.00 6,192.54 14,755,894.00 Disbursements: Account Fees 0.00 0.00 2,000.00 0.00 0.00 2,000.00 0.00 Debt Service - Principal 0.00 480,000.00 0.00 1,030,000.00 0.00 0.00 0.00 Debt Service - Interest 0.00 192,900.00 0.00 688,810.00 0.00 0.00 0.00 Debt Service - Bond Redemption 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Transfer to Other Accounts (1) 64.29 4,727.00 0.00 6,263.45 0.00 40,686.84 0.00 Cost of Issuance 0.00 0.00 0.00 0.00 0.00 0.00 142,747.50 Total Disbursements 64.29 677,627.00 2,000.00 1,725,073.45 0.00 42,686.84 142,747.50 Balance @ December 31, 2012 $607,500.00 $52.04 $4,189.09 $0.00 $1.00 $0.00 $14,613,146.50 Defeasance Account - not city cash City of South Bend, Indiana Building Corporation Transaction: January 1, 2012 through Decembe US Bank US Bank US Bank US Bank 2012 Police /Fire 2012 Police /Fire 2012 Police /Fire 2012 Police /Fire Sinking Fund Oper /Reserve Reserve Issuance Costs Grand 20039600 200396001 200396002 200396003 Total Sep -Dec 2012 Sep -Dec 2012 Sep -Dec 2012 Sep -Dec 2012 Balance @ January 1, 2012 $0.00 $0.00 $0.00 $0.00 $645,645.41 Receipts: Interest 0.00 0.00 0.00 2.63 69.64 Lease Payments from City 0.00 0.00 0.00 0.00 2,402,500.00 Contributions 0.00 0.00 0.00 0.00 0.00 Transfer From Other Accounts (1) 8,420.32 0.00 0.00 0.00 60,161.90 Refunding Proceeds 0.00 0.00 0.00 116,230.64 14,831,364.35 Total Receipts 8,420.32 0.00 0.00 116,233.27 17,294,095.89 Disbursements: Account Fees 0.00 0.00 0.00 0.00 4,000.00 Debt Service - Principal 0.00 0.00 0.00 0.00 1,510,000.00 Debt Service - Interest 0.00 0.00 0.00 0.00 881,710.00 Debt Service - Bond Redemption 0.00 0.00 0.00 0.00 0.00 Transfer to Other Accounts (1) 0.00 0.00 0.00 8,420.32 60,161.90 Cost of Issuance 0.00 0.00 0.00 107,812.95 250,560.45 Total Disbursements 0.00 0.00 0.00 116,233.27 2,706,432.35 Balance @ December 31, 2012 $8,420.32 $0.00 $0.00 $0.00 $15,233,308.95 $1,395,000 Assured