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HomeMy WebLinkAbout2014 Redevelopment Authority & Building Corporation Report FinalO� low 4( U PEACE r' W1 �O�ee 1865 �1 d a axe City of South Bend Redevelopment Authority and Building Corporation 2014 Financial Reports Prepared by - Department of Administration and Finance September 15, 2015 (Information obtained from the City of South Bend Comprehensive Annual Report (CAFR) for the year ended December 31, 2014) SOU rH 8� 4 � PFAC : x Page Table of Contents Financial Statements 3 Redevelopment Authority Revenue & Expenditures 4 Building Corporation Revenue & Expenditures 5 Excerpts from the 2014 Comprehensive Annual Financial Report (CAFR) 10 Supporting Schedules City of South Bend, Indiana Redevelopment Authority and Building Corporation Financial Statements December 31, 2014 City of South Bend Redevelopment Authority College Football Redevelopment Redvelopment Redevelopment Redevelopment Blackthorn Total South Bend Hall of Fame Bond Bond Authority Authority Golf Course Redvelopment Building Corporation Debt Service Airport Taxable Palais Rovale Debt Service General Enterprise Fund Authoritv Debt Service Cash and cash equivalents Restricted cash Investments Accounts receivable Interest receivable Taxes Inventories Unamortized debt Issue Costs Prepaid Expenses Land and construction in progress Other capital assets (net of accumulated depn) Total assets & deferred outflows Liabilities & Deferred Inflows Accounts payable Interfund payable Taxes payable Revenue Bonds payable Capital leases payable Accrued Interest Payable Other Current Payables Advances from Other Funds Total liabilities & deferred inflows Net Restricted Assigned Invested in capital assets, net of related debt Restricted for debt service Unrestricted Total fund balance /net position Property taxes Intergovernmental Golf course fees Other $ 27,623 $ 240,540 $ 401,904 $ 4,139,414 $ 2,338 $ 83,501 $ 4,895,320 $ 662,361 54,620 796,650 1,331,073 7,742 - 2,190,085 - - - - 6,312 6,312 76 1,160 1,937 11 - 3,184 480 - - - 480 - 6,344 6,344 3,000 3,000 1,187,248 1,187,248 - - - - 1,703,419 1,703,419 - $ 662,361 $ 82,799 $ 1,038,350 $ 1,734,914 $ 4,139,414 $ 10,091 $ 2,989,824 $ 9,995,392 - - - - - 2,720 2,720 - 257,238 257,238 300 300 700 700 1,472,130 1,472,130 - - 1,733,088 1,733,088 $ 82,799 $ 1,038,350 $ 1,734,914 $ 4,139,414 $ 10,091 $ 1,256,736 $ 8,262,304 $ 662,361 82,799 1,038,350 1,734,914 4,139,414 - - 6,995,477 662,361 - - - - 10,091 - 10,091 - - 2,633,429 2,633,429 - - - - - (1,376,693) (1,376,693) - $ 662,361 $ 82,799 $ 1,038,350 $ 1,734,914 $ 4,139,414 $ 10,091 $ 1,256,736 $ 8,262,304 $ 491,899 $ - $ - $ - $ - $ - $ 491,899 $ - 45,683 - 45,683 - 1,548,341 1,548,341 City of South Bend, Indiana Redevelopment Authority and Building Corporation Financial Statements December 31, 2014 City of South Bend Redevelopment Authority College Football Redevelopment Redvelopment Redevelopment Redevelopment Blackthorn Total South Bend Hall of Fame Bond Bond Authority Authority Golf Course Redvelopment Building Corporation Debt Service Airport Taxable Palais Royale Debt Service General Enterprise Fund Authority Debt Service Interest earnings 458 3,668 6,129 805 62 - 11,122 101 101 Total revenue 538,040 3,668 6,129 805 62 1,548,341 2,097,045 Expenditures /expenses Operations and maintenance - - - - 1,586,513 1,586,513 - Administrative and general 130,936 130,936 Depreciation - - 157,513 157,513 Capital outlay- economic development 2,000 9,629 - 11,629 - Capital outlay - highways and streets - - - 3,951 Capital outlay - culture and recreation - Capital outlay - public safety - - - - Debt service - principal 1,130,000 2,630,000 3,760,000 1,580,425 Debt service - interest and fiscal charges 133,416 2,165,790 2,299,206 715,920 Debt service - bond issuance costs - - - - - - 2,300,296 Total expenditures /expenses 1,263,416 - 4,797,790 9,629 1,874,962 7,945,797 Net revenue less expenditures /expenses (725,376) 3,668 6,129 (4,796,985) (9,567) (326,621) (5,848,752) (2,300,195) Other financing /nonoperating items Transfers in 85,677 - - 4,955,500 269,985 5,311,162 2,366,725 Transfers out - (3,415) (5,706) - - (9,121) - Interest revenue (147) (147) Interest expense - - Amortization expense Premium on debt issuance Issuance of refunding bonds - - Other Capital contributions 738,779 738,779 Gain (loss) on disposition of assets - - Payment to refunded bond escrow agent - - - - - 2,366,725 Total other financing /nonoperating items 85,677 (3,415) (5,706) 4,955,500 1,008,617 6,040,673 Net changes in fund balances (639,699) 253 423 158,515 (9,567) 681,996 191,921 66,530 Fund balance /net position - beginning 722,498 1,038,097 1,734,491 3,980,899 19,658 574,740 8,070,383 595,831 Fund balance /net position - ending $ 82,799 $ 1,038,350 $ 1,734,914 $ 4,139,414 $ 10,091 $ 1,256,736 $ 8,262,304 $ 662,361 The Redevelopment Authority and Building Corporation are presented as blended component units in the City of South Bend 2013 Comprehensive Annual Financial Report. Redevlopment Authority Revenue - 2014 Intergovernmental Interest earnings 0.6% 0.1% Property t; 6.0% Capital Contributior 9.1% Charges for services 19.0% Revenue Transfers in Charges for services Capital Contributions Property taxes Intergovernmental Interest earnings Total Revenue Amount Percent $ 5,311,162 65.2% 1,548,341 19.0% 738,779 9.1% 491,899 6.0% 45,683 0.6% 10,975 0.1% $ 8,146,839 100.0% Redevelopment Authority Expenditures - 2014 Administrative and Capital outlay General 0'1% Transfers out 1.6% A 0.1% 2.0% Operations and maintenance 20.0% Debt service - interest 28.9% Debt service - principal 47.3% Expenditures Amount Percent Debt service - principal $ 3,760,000 47.3% Debt service - interest 2,299,206 28.9% Operations and maintenance 1,586,513 20.0% Depreciation 157,513 2.0% Administrative and General 130,936 1.6% Capital outlay 11,629 0.1% Transfers out 9,121 0.1% Total Expenditures $ 7,954,918 100.0% 3 Building Corporation Revenue - 2014 Interest earnings 0.0% Revenue Amount Percent Transfers in $ 2,366,725 100.0% Interest earnings 101 0.0% Total Revenue $ 2,366,826 100.0% Building Corporation Expenditures - 2014 Capital Outlay 0.2% Expenditures Amount Percent Principal $ 1,580,425 68.7% Interest 715,920 31.1% Capital Outlay 3,951 02% Total Expenditures $ 2,300,296 100.0% 4 AW CITY OF SOUTH BEND COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS December 31, 2014 Assets Cash and cash equivalents Investments Receivables (net of allowances for uncollectibles): Interest Taxes Total assets Liabilities and fund balances Liabilities: Total liabilities Fund balances: Restricted Assigned Total fund balances Total liabilities and fund balances Debt Service Redevelopment Redevelopment College Football Bond - Bond - Redevelopment Hall of Fame Airport Palais Authority Debt Service Taxable Royale Debt Service Capital Projects South Bend Building Corporation Redevelopment Debt Service General Total $ 27,623 $ 240,540 $ 401,904 $ 4,139,414 $ 662,361 $ 2,338 $ 5,474,180 54,620 796,650 1,331,073 - - 7,742 2,190,085 76 1,160 1,937 11 3,184 480 - - - - 480 $ 82,799 $ 1,038,350 $ 1,734,914 $ 4,139,414 $ 662,361 $ 10,091 $ 7,667,929 82,799 1,038,350 1,734,914 4,139,414 662,361 - 7,657,838 - - - - - 10,091 10,091 82,799 1,038,350 1,734,914 4,139,414 662,361 10,091 7,667,929 $ 82,799 $ 1,038,350 $ 1,734,914 $ 4,139,414 $ 662,361 $ 10,091 $ 7,667,929 M CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENDITURES AND OTHER CHANGES IN FUND BALANCES NONMAJOR GOVERNMENTAL FUNDS December 31, 2014 Revenues: Taxes: Property Intergovernmental Interest Total revenues Expenditures: Current: Highways and streets Economic development Debt service: Principal Interest and fiscal charges Capital outlay: Economic development Total expenditures Excess (deficiency) of revenues over (under) expenditures Other financing sources (uses): Transfers in Transfers out Total other financing sources and uses Net change in fund balances Fund balances - beginning (restated) Fund balances - ending Debt Service Capital Projects Redevelopment Redevelopment South Bend College Football Bond - Bond - Redevelopment Building Hall of Fame Airport Palais Authority Corporation Redevelopment Debt Service Taxable Royale Debt Service Debt Service General Total $ 491,899 $ $ $ $ $ - $ 491,899 45,683 45,683 458 3,668 6,129 805 101 62 11,223 538,040 3,668 6,129 805 101 62 548,805 - - - - 3,951 - 3,951 - 2,000 - - 2,000 1,130,000 2,630,000 1,580,425 - 5,340,425 133,416 2,165,790 715,920 - 3,015,126 - - - - 9,629 9,629 1,263,416 - 4,797,790 2,300,296 9,629 8,371,131 (725,376) 3,668 6,129 (4,796,985) (2,300,195) (9,567) (7,822,326) 85,677 - - 4,955,500 2,366,725 - 7,407,902 - (3,415) (5,706) - - (9,121) 85,677 (3,415) (5,706) 4,955,500 2,366,725 - 7,398,781 (639,699) 253 423 158,515 66,530 (9,567) (423,545) 722,498 1,038,097 1,734,491 3,980,899 595,831 19,658 8,091,474 $ 82,799 $ 1,038,350 $ 1,734,914 $ 4,139,414 $ 662,361 $ 10,091 $ 7,667,929 CITY OF SOUTH BEND COMBINING STATEMENT OF NET POSITION - NONMAJOR ENTERPRISE FUNDS December 31, 2014 Deferred inflows or resources: Unamoritzed gain on sale /leaseback - Net Position Net investment in capital assets 2,633,429 Restricted for capital asset outlays - Unrestricted (1,376,693) Total net position $ 1,256,736 7 Blackthorn Golf Course Assets Current assets: Cash and cash equivalents $ 83,501 Accounts receivable (net of allowance) 6,312 Inventories 6,344 Prepaid Expenses 3,000 Total current assets 99,157 Noncurrent Assets: Capital assets: Land and construction in progress 1,187,248 Other capital assets (net of accumulated depreciation) 1,703,419 Total noncurrent assets 2,890,667 Total assets 2,989,824 Deferred outflows of resources: Unamortized loss on sale /leaseback - Total deferred outflow of resources - Liabilities Current liabilities: Accounts payable 2,720 Other current payables 700 Current liabilities payable from restricted assets: Capital leases payable 56,916 Accrued interest payable 300 Total current liabilities 60,636 Noncurrent liabilities: Advances from other funds 1,472,130 Capital leases payable 200,322 Total noncurrent liabilities 1,672,452 Total liabilities 1,733,088 Deferred inflows or resources: Unamoritzed gain on sale /leaseback - Net Position Net investment in capital assets 2,633,429 Restricted for capital asset outlays - Unrestricted (1,376,693) Total net position $ 1,256,736 7 CITY OF SOUTH BEND COMBINING STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION NONMAJOR ENTERPRISE FUNDS December 31, 2014 Operating revenues: Golf course fees 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 Total nonoperating revenue (expenses) Income (loss) before contributions and transfers Capital Contributions Transfers In Change in net position Total net position - beginning Total net position - ending s Blackthorn $ 1,548,341 1,548,341 1,586,513 130,936 157,513 1,874,962 (326,621) (147) (147) (326,768) 738,779 269,985 681,996 574,740 $ 1,256,736 CITY OF SOUTH BEND COMBINING STATEMENT OF CASH FLOWS - NONMAJOR ENTERPRISE FUNDS December 31, 2014 Net cash provided (used) by operating activities (205,785) Cash flows from noncapital financing activities: Transfers from other funds 53,065 Net cash provided (used) by noncapital financing activities 53,065 Cash flows from capital and related financing activities: Proceeds from capital debt issued 293,788 Principal paid on capital debt (143,352) Interest paid on capital debt (5,249) Net cash provided (used) by capital and related financing activities 145,187 Cash flows from investing activities: Investments sold 38,766 Interest received (94) Net cash provided (used) by investing activities 38,672 Net increase in cash and cash equivalents 31,139 Cash and cash equivalents, January 1 Blackthorn Cash and cash equivalents, December 31 Golf Course Cash flows from operating activities: Receipts from customers and users $ 1,546,473 Payments to suppliers (1,118,546) Payments to employees (633,712) Net cash provided (used) by operating activities (205,785) Cash flows from noncapital financing activities: Transfers from other funds 53,065 Net cash provided (used) by noncapital financing activities 53,065 Cash flows from capital and related financing activities: Proceeds from capital debt issued 293,788 Principal paid on capital debt (143,352) Interest paid on capital debt (5,249) Net cash provided (used) by capital and related financing activities 145,187 Cash flows from investing activities: Investments sold 38,766 Interest received (94) Net cash provided (used) by investing activities 38,672 Net increase in cash and cash equivalents 31,139 Cash and cash equivalents, January 1 52,362 Cash and cash equivalents, December 31 $ 83,501 Reconciliation of operating income (loss) to net cash provided by operating activities: Operating income (loss) $ (326,621) Adjustments to reconcile operating income (loss) to net cash provided by operating activities: Depreciation expense 157,513 (Increase) decrease in assets: Accounts receivable (1,868) Inventories 15,694 Prepaid expenses (3,000) Increase (decrease) in liabilities: Accounts payable (47,503) Total adjustments 120,836 Net cash provided (used) by operating activities $ (205,785) Supporting Schedules Ce City of South Bend, Indiana Interfund Advances Conversion Worksheets - Civil City and TIF Interfund Transfer December 31, 2014 Interfund AR /AP 12/31/2014 Prior Current 12/31/2014 Auditor Year Year CAFR Account Number Account Name Worksheet Adjustment Adjustment Balance Total Notes FUND 313 HALL OF FAME DEBT SERVICE - completed 3/18/15 313 - 0000 - 101.00 -00 CASH 16,492.09 0.00 0.00 16,492.09 313 - 0000 - 103.00 -00 INVESTMENTS 54,620.45 0.00 0.00 54,620.45 313 - 0000 - 111.00 -00 CASH WITH FISCAL AGENT 2,933.69 0.00 8,197.78 11,131.47 Trustee Cash 313 - 0000 - 115.10 -00 PROPERTY TAX RECEIVABLE - 0.00 480.03 480.03 AR - agrees to prop tax AR schedule 313 - 0000 - 116.00 -00 INTEREST REC - INVESTMENTS 76.37 0.00 0.00 76.37 82,800.41 313 - 0000 - 271.00 -00 FUND BALANCE (716,335.66) (6,162.12) 0.00 (722,497.78) (722,497.78) Per 12/31/13 CAFR 313 - 0000 - 311.00 -00 GENERAL PROPERTY TAX (497,767.83) 6,348.57 (480.03) (491,899.29) AR 313 - 0000 - 312.02 -00 AUTO EXCISE (35,030.09) 0.00 0.00 (35,030.09) 313 - 0000 - 312.03 -00 COMMERCIAL VEHICLE TAX (10,653.00) 0.00 0.00 (10,653.00) 313 - 0000 - 338.00 -00 PILOT TRANSFERS IN (85,677.12) 0.00 0.00 /R 313 - 0000 - 361.00 -00 INTEREST ON INVESTMENTS 41.10 (481.45) (17.78) (458.13) (623,717.63) Adjustment for cash with fiscal agent 313 - 0401 - 472.38 -01 PRINCIPAL 1,130,000.00 0.00 0.00 1,130,000.00 Per trustee statement 313 -0401- 472.38 -02 INTEREST 140,500.00 295.00 (8,180.00) 132,615.00 Adjustment per Trustee statement 313 - 0401 - 472.38 -03 PAYING AGENT FEES 800.00 0.00 0.00 800.00 1,263,415.00 313 Hall of Fame Debt Service - (0.00) (0.00) - 0.00 FUND 315 AIRPORT 2003 DEBT RES. - completed 3/18/15 315 - 0000 - 101.00 -00 CASH 240,540.39 0.00 0.00 240,540.39 315 - 0000 - 103.00 -00 INVESTMENTS 796,650.28 0.00 0.00 796,650.28 315 - 0000 - 116.00 -00 INTEREST REC - INVESTMENTS 1,113.85 0.00 45.66 1,159.51 1,038,350.18 IR 315 - 0000 - 271.00 -00 FUND BALANCE (1,038,904.00) 807.07 0.00 (1,038,096.93) (1,038,096.93) Per 12/31/13 CAFR 315 - 0000 - 361.00 -00 INTEREST ON INVESTMENTS (2,948.76) (673.81) (45.66) (3,668.23) (3,668.23) IR 315 - 1002 - 460.50 -02 INTER -FUND OPER. TRANSFER 3,548.24 (133.26) 0.00 3,414.98 3,414.98 Trans out to Airport TIF 315 Airport 2003 Debt Reserve 0.00 - - - 0.00 IN South Bend Redevelopment Authority College Football Hall of Fame Include with Fund 313 Hall of Fame Conversion Worksheet December 31, 2014 Prepared - March 6, 2015 US Bank US Bank 2011 Refunding 2011 Refunding Sinking Fund Oper /Reserve Fund Name 149536000 149536001 Total h Balance at January 1, 2014 $2.06 $3,240.36 $3,242.42 Debt Service Payment Received from City 1,270,500.00 0.00 1,270,500.00 Interest Earnings 2.42 1.63 4.05 Transfer In From Other Account 0.00 7,888.78 7,888.78 Principal Paid to Bondholders (1,130,000.00) 0.00 (1,130,000.00) Interest Paid to Bondholders (132,615.00) 0.00 (132,615.00) Trustee Fees Paid 0.00 0.00 0.00 Transfer Out To Other Accounts (7,888.78) 0.00 (7,888.78) Other 0.00 0.00 0.00 h Balance at December 31, 2014 $0.70 $11,130.77 $11,131.47 Per Trustee Statements Adjustments Per CAFR Debt Service Payment Received from City 1,270,500.00 0.00 1,270,500.00 Account No. 313 - 0401 - 472 -38 -01 and 313 - 0401 - 472 -38 -02 Interest Earnings 4.05 0.00 4.05 Transfer In From Other Account 7,888.78 (7,888.78) 0.00 Eliminate Principal Paid to Bondholders (1,130,000.00) 0.00 (1,130,000.00) Interest Paid to Bondholders (132,615.00) 0.00 (132,615.00) Transfer Out To Other Accounts (7,888.78) 7,888.78 0.00 Eliminate Other 0.00 0.00 0.00 Net 7,889.05 0.00 7,889.05 Beginning Cash - 1/1/14 3,242.42 0.00 3,242.42 Ending Cash - 12/31/14 11,131.47 0.00 11,131.47 W City of South Bend, Indiana Interfund Advances Conversion Worksheets - Civil City and TIF Interfund Transfer December 31, 2014 Interfund AR /AP M 12/31/2014 Prior Current 12/31/2014 Auditor Year Year CAFR Account Number Account Name Worksheet Adjustment Adjustment Balance Total Notes FUND 619 BLACKTHORN GOLF COURSE - completed 3/30/15 619 - 0000 - 101.00 -00 CASH 44.21 0.00 0.00 44.21 619 - 0000 - 101.01 -01 PETTY CASH W /FISCAL AGENT 1,100.00 0.00 0.00 1,100.00 619 - 0000 - 111.00 -00 CASH WITH FISCAL AGENT 82,356.86 0.00 0.00 82,356.86 619 - 0000 - 115.00 -00 ACCOUNTS RECEIVABLE (3,036.67) 0.00 9,348.67 6,312.00 619 - 0000 - 117.00 -00 PREPAID EXPENSE 3,000.00 0.00 0.00 3,000.00 619- 0000 - 142.00 -00 INVENTORY -GOLF PROSHOP 5,893.95 0.00 0.00 5,893.95 619 - 0000 - 144.00 -00 CONCESSION INVENTORY 450.00 0.00 0.00 450.00 619 - 0000 - 190.10 -00 FIXED ASSETS 4,843,162.00 0.00 0.00 4,843,162.00 619 - 0000 - 190.15 -00 LAND & CONST IN PROGRESS 448,469.00 0.00 738,779.00 1,187,248.00 619 - 0000 - 190.20 -00 ACCUMULATED DEPRECIATION (2,982,230.00) 0.00 (157,513.00) (3,139,743.00) 619 - 0000 - 202.00 -00 ACCOUNTS PAYABLE 7,068.74 0.00 (9,581.74) (2,513.00) 619 - 0000 - 204.00 -00 DUE TO OTHER FUNDS (6,197,878.89) 0.00 4,725,748.89 619 - 0000 - 204.20 -00 RESERVE FOR UNCOLLECTABLE 4,508,128.91 0.00 (4,508,128.91) 0.00 619- 0000 - 204.30 -00 EQUIPMENT (52,364.90) 0.00 52,364.90 0.00 619 - 0000 - 227.20 -00 PAYABLE TO STATE (206.80) 0.00 0.00 (206.80) 619 - 0000 - 227.99 -00 OTHER LIABILITY - 0.00 (700.00) (700.00) 619- 0000 - 227.40 -00 LEASE PAYABLE - PNC OLD (106,802.80) 0.00 106,802.80 0.00 619 - 0000 - 227.40 -00 LEASE PAYABLE - PNC NEW - 0.00 (257,238.04) (257,238.04) 619 - 0000 - 227.24 -00 ACCRUED INTEREST PAYABLE - 0.00 (300.10) (300.10) 619 - 0000 - 249.00 -00 PR YR RES FOR ENCUMBRANCE (160,028.23) 0.00 0.00 (160,028.23) 619 - 0000 - 271.00 -00 FUND BALANCE (410,206.32) (4,506.06) 0.00 (414,712.38) 619- 0000 - 361 -00 -00 INTEREST INCOME - (36.20) 0.00 (36.20) 619- 0000 - 361 -00 -00 INTEREST INCOME FUND 319 - 183.47 0.00 183.47 619 - 1065 - 347.01 -19 LPGA TOURNAMENT FEES (168,407.43) 0.00 0.00 (168,407.43) 619 - 1065- 347.01 -20 GOLF COURSE GREEN FEES (584,841.75) 0.00 0.00 (584,841.75) 619 - 1065 - 347.01 -22 GOLF CART RENTALS (93,802.39) 0.00 0.00 (93,802.39) 619 - 1065- 347.01 -23 PRO SHOP RETAIL SALES (185,602.59) 460.09 0.00 (185,142.50) 619 - 1065 - 347.01 -25 DRIVING RANGE (34,570.51) 0.00 0.00 (34,570.51) 619 - 1065- 347.01 -26 GIFT CERTIFICATES (9,061.49) 0.00 0.00 (9,061.49) 619 - 1065 - 347.01 -27 MEMBERSHIPS /SEASON PASSES (191,658.00) 0.00 0.00 (191,658.00) 619 - 1065- 347.01 -29 CLUB RENTAL (4,070.00) 0.00 0.00 (4,070.00) 619 - 1065 - 347.01 -30 CONCESSION (219,584.52) 0.00 0.00 (219,584.52) 619 - 1065- 347.01 -31 INSTRUCTION (6,562.99) 0.00 0.00 (6,562.99) 619 - 1065 - 347.01 -41 OTHER GOLF (6,190.03) (67.64) (9,348.67) (15,606.34) 619 - 1065- 347.01 -99 ADVERTISING REVENUE (35,033.33) 0.00 0.00 (35,033.33) 619- 0000 - 392.00 -00 TRANSFER IN FROM FUND 324 - 0.00 (269,984.88), (269,984.88) 619- 0000 - 270.00 -00 CONTRIBUTED CAPITAL - 0.00 (738,779.00) (738,779.00) Expenditures Maintenance 619 - 1065- 460.62 -01 SALARIES 257,104.25 0.00 0.00 257,104.25 619 - 1065 - 460.62 -02 PAYROLL OVERHEAD 23,711.36 0.00 0.00 23,711.36 619 - 1065- 460.62 -03 HEALTH INSURANCE 21,811.72 (1,827.96) 0.00 19,983.76 619 - 1065 - 460.62 -05 TRAVEL ALLOWANCE 1,084.90 0.00 0.00 1,084.90 619 - 1065- 460.62 -06 PROF. EDUCATION 65.00 0.00 0.00 65.00 619 - 1065 - 460.62 -07 DUES /SUBSCRIPTION 835.00 0.00 0.00 835.00 619 - 1065- 460.62 -08 UNIFORMS /CLOTHING 1,334.42 0.00 0.00 1,334.42 619 - 1065 - 460.62 -10 FERTILIZER 24,282.18 0.00 0.00 24,282.18 619 - 1065- 460.62 -11 FUNGICIDES 33,046.45 0.00 0.00 33,046.45 619 - 1065 - 460.62 -12 INSECTICIDES 5,436.56 0.00 0.00 5,436.56 619 - 1065- 460.62 -13 HERBICIDES 5,288.89 0.00 0.00 5,288.89 619 - 1065 - 460.62 -14 HORTCULT. SUPPLY 18,337.95 0.00 0.00 18,337.95 619 - 1065- 460.62 -15 SEED 1,633.01 0.00 0.00 1,633.01 619 - 1065 - 460.62 -17 SAND 9,138.70 0.00 0.00 9,138.70 619 - 1065- 460.62 -23 SMALL TOOLS 355.43 0.00 0.00 355.43 619 - 1065 - 460.62 -24 IRRIGATION REPAIR 11,758.89 0.00 0.00 11,758.89 619 - 1065- 460.62 -25 DRAINAGE SUPPLY 5,081.36 0.00 0.00 5,081.36 619 - 1065 - 460.62 -26 FUEL /LUBRICANTS 27,870.86 0.00 0.00 27,870.86 619 - 1065- 460.62 -29 G.C. ACCESSORIES 5,413.36 0.00 0.00 5,413.36 619 - 1065 - 460.62 -31 EQUIPMENT REPAIRS 36,561.37 0.00 0.00 36,561.37 619 - 1065- 460.62 -34 OFFICE SUPPLY 1,216.49 0.00 0.00 1,216.49 Agrees to Petty Cash Schedule at 12/31/14 Per Billy Casper balance sheet Per Billy Casper balance sheet Per PY Balance Sheet Agrees to Inventory Schedule Agrees to Inventory Schedule PER CAPITAL ASSET RECORD CONTRIBUTED CAPITAL FROM COMMUNITY INVESTMENT PER CAPITAL ASSET RECORD Per Billy Casper balance sheet AGREE TO FUND 324; EQUAL TO SALE OF BLACKTHORN AGREE TO FUND 324; EQUAL TO SALE OF BLACKTHORN EQUIPMENT LOAN WRITTEN OFF WITH SALE Per Billy Casper balance sheet Per Billy Casper balance sheet RETIRED DEBT SCHEDULE #75 WITH NEW SCHEDULE #125 AGREED TO GOLF CART SCHEDULE #121 $56,916 due in 2015 1,256,736.08 SCHEDULE #121 (574,740.61) Per 12/31/13 CAFR To agree AR to Billy Casper Balance Sheet ADJUST INTERFUND LOANS FOR PROCEEDS FROM SALE OF BLACKTHORN (2,556,957.86) FOR ADD'L LAND; ORIGINALLY LAND HELD FOR RESALE IN DCI - CORRECTED IN 2014 A City of South Bend, Indiana 1,362.01 0.00 0.00 Interfund Advances Conversion Worksheets - Civil City and TIF 5,734.46 0.00 0.00 Interfund Transfer December 31, 2014 4,436.74 0.00 0.00 Interfund AR /AP MISCELLANEOUS 12/31/2014 Prior Current 12/31/2014 10,495.02 UTILITY GAS Auditor Year Year CAFR 3,705.23 Account Number Account Name Worksheet Adjustment Adjustment Balance Total Notes 619 - 1065- 460.62 -36 BUILDING MAINT. 2,156.36 0.00 0.00 2,156.36 10,214.94 619 - 1065 - 460.62 -39 619 - 1065 - 460.62 -40 619 - 1065 - 460.62 -42 619 - 1065- 460.62 -43 619 - 1065 - 460.62 -46 619 - 1065- 460.62 -47 Administration 619 - 1065 - 460.63 -04 619 - 1065- 460.63 -10 619 - 1065 - 460.63 -18 619 - 1065- 460.63 -20 619 - 1065 - 460.63 -21 619 - 1065- 460.63 -23 619 - 1065 - 460.63 -25 619 - 1065- 460.63 -26 619 - 1065 - 460.63 -29 619 - 1065- 460.63 -31 619 - 1065 - 460.63 -32 619 - 1065- 460.63 -34 619 - 1065 - 460.63 -38 619 - 1065- 460.63 -39 619 - 1065 - 460.63 -40 619 - 1065- 460.63 -41 619 - 1065 - 460.63 -42 Proshop 619 - 1065- 460.64 -01 619 - 1065 - 460.64 -02 619 - 1065- 460.64 -03 619 - 1065 - 460.64 -05 619 - 1065- 460.64 -06 619 - 1065 - 460.64 -07 619 - 1065- 460.64 -08 619 - 1065 - 460.64 -10 619 - 1065- 460.64 -11 619 - 1065 - 460.64 -13 619 - 1065- 460.64 -15 619 - 1065 - 460.64 -16 619 - 1065- 460.64 -17 619 - 1065 - 460.64 -18 619 - 1065- 460.64 -19 619 - 1065 - 460.64 -24 619 - 1065- 460.64 -28 619 - 1065 - 460.64 -29 619 - 1065- 460.64 -30 619 - 1065- 460 -69.99 Concessions 619 - 1065 - 460.65 -01 619 - 1065- 460.65 -02 619 - 1065 - 460.65 -03 619 - 1065- 460.65 -10 619 - 1065 - 460.65 -12 619 - 1065- 460.65 -13 619 - 1065 - 460.65 -16 619 - 1065- 460.65 -17 619 - 1065 - 460.65 -19 619 - 1065- 460.65 -20 Other 619 - 1065 - 460.66 -10 619 - 1065 - 460.66 -12 619 - 1065- 460.66 -12 619 - 1065- 460.45 -00 619 Blackthorn Golf Course UTILITY WATER 1,362.01 0.00 0.00 1,362.01 UTILITY ELECTRIC 5,734.46 0.00 0.00 5,734.46 TRASH REMOVAL 4,436.74 0.00 0.00 4,436.74 MISCELLANEOUS 213.28 0.00 10,281.74 10,495.02 UTILITY GAS 3,705.23 0.00 0.00 3,705.23 CAPITAL EQUIP /IMPROV. 15,868.26 0.00 0.00 15,868.26 PAYROLL SERVICES 8,382.77 1,832.17 0.00 10,214.94 ADVERTISING 23,143.32 0.00 0.00 23,143.32 YELLOW PAGES/WEBSITE 3,304.98 0.00 0.00 3,304.98 INSURANCE 1,571.79 0.00 0.00 1,571.79 BANK CHARGES 3.15 0.00 0.00 3.15 CITY ACCOUNTING FEE 24,000.00 0.00 0.00 24,000.00 DUES & SUBSCRIPTION 866.83 0.00 0.00 866.83 TELEPHONE SERVICE 9,787.71 0.00 0.00 9,787.71 TV CABLE 1,726.10 0.00 0.00 1,726.10 WATER/SEWER 5,127.34 0.00 0.00 5,127.34 GAS C. H. 5,124.52 0.00 0.00 5,124.52 OFFICE SUPPLIES /EQUIP. 5,369.11 0.00 0.00 5,369.11 POSTAGE /FREIGHT 1,644.22 (63.02) 0.00 1,581.20 CREDIT CARD FEES 20,140.89 (316.42) 0.00 19,824.47 SECURITY 1,335.50 0.00 0.00 1,335.50 MISCELLANEOUS 3,972.60 0.00 0.00 3,972.60 BUILDING MAINTENANCE 13,982.27 0.00 0.00 13,982.27 SALARIES 228,444.85 3,864.58 0.00 232,309.43 PAYROLL OVERHEAD 15,089.58 579.69 0.00 15,669.27 HEALTH INSURANCE 8,343.45 0.00 0.00 8,343.45 DUES /SUBSCRIPTIONS 279.80 0.00 0.00 279.80 TRAVEL ALLOWANCE 1,556.80 0.00 0.00 1,556.80 PROF. EDUCATION 165.00 0.00 0.00 165.00 UNIFORMS /CLOTHING 65.09 0.00 0.00 65.09 COST OF GOODS SOLD 155,004.88 0.00 0.00 155,004.88 RANGE BALLS /SUPPLY 3,475.60 0.00 0.00 3,475.60 RENTAL CLUBS 3,723.13 0.00 0.00 3,723.13 GOLF CART ELECTRICITY 13,735.35 0.00 0.00 13,735.35 GOLF CART MAINTENANCE 2,648.67 0.00 0.00 2,648.67 HANDICAP SERVICE 4,150.00 0.00 0.00 4,150.00 PRO SHOP SUPPLIES 773.18 0.00 0.00 773.18 SCORECARDS 859.56 0.00 0.00 859.56 GPS FEES 47,000.00 0.00 0.00 47,000.00 DEBT SERVICE - PRINCIPAL 37,162.02 0.00 (37,162.02) 0.00 DEBT SERVICE - INTEREST 4,636.54 0.00 300.10 4,936.64 TOURNAMENT EXP - LPGA 109,076.25 0.00 0.00 109,076.25 GOLF CART CAPITAL LEASE - 0.00 187,597.26 187,597.26 SALARIES 57,019.06 0.00 0.00 57,019.06 PAYROLL OVERHEAD 6,389.88 0.00 0.00 6,389.88 HEALTH INSURANCE 48.92 (4.21) 0.00 44.71 COST OF GOODS SOLD 77,571.22 47.34 0.00 77,618.56 PAPER GOODS 3,483.54 0.00 0.00 3,483.54 CLEANING SUPPLIES 1,663.50 0.00 0.00 1,663.50 EQUIPMENT /SUPPLIES 3,011.62 0.00 0.00 3,011.62 LINENS 1,338.90 0.00 0.00 1,338.90 OUTING EXPENSE 6,966.52 0.00 0.00 6,966.52 LICENSES & PERMITS 1,049.47 0.00 0.00 1,049.47 FIXED FEE 96,000.00 0.00 0.00 96,000.00 MGMT.. EXPENSE 7,406.00 (45.51) 0.00 7,360.49 OTHER - (100.32) 0.00 (100.32) DEPRECIATION - 0.00 157,513.00 157,513.00 - 0.00 (0.00) - 533,298.27 130,935.83 Adjust AP to agree to Billy Casper AP and other liability Balances ACCRUED INTEREST PER SCHEDULE #121 791,369.36 NEW BLACKTHORN PNC LEASE LESS REFINANCE OF OLD LEASE 158,585.76 260,773.17 (0.00) Includes $19 plug to agree to 2013 CAFR en (Recorded in CAFR as a separate fund. Not in Navil-ine or on Controller's Cash Report) December 31, 2014 Unadjusted CAFR Trial Balance Trial Balance Account Name 12/31/14 Adjustments 12/31/14 ash - Police & Fire 15,837.99 0.00 83,025.00 #641- 0630 - 793 -37 -11 and 12 15,837.99 ash - Public Works Building, 87.7% of total 615,213.00 (76,667.43) 3 538,545.58 ash - US Bank 2013 Revenue Bond Issue (EMS) 107,977.25 0.00 107,977.25 eginning Fund Balance, per CAFR 12/31/13 (671,957.66) 76,126.66 (595,831.00) Merest Income (103.59) 2.65 (100.94) ransfers In - From City Funds (2,449,750.00) 83,025.00 1 (2,366,725.00) ransfers In - From Building Corporation Accounts (170,511.33) 170,511.33 2 0.00 ccount Fees 3,951.00 0.00 3,951.00 ebt Service - Principal 1,645,000.00 (64,575.00) 1 1,580,425.00 ebt Service - Interest 733,832.00 (17,911.88) 1 715,920.13 ransfers Out - To Building Corporation Accounts 170,511.34 (170,511.34) 2 0.00 ther 0.00 0.00 0.00 roof Total (0.00) 0.00 0.00 - eliminate Wastewater portion of Public Works Building COIT debt service and Transfer In of 12.3% account no. 641 - 0630 - 793 -37 -02 - $0 paid to Wells Fargo in lease payments in 2013. - eliminate transfers in /transfer out from Building Authority Debt Service accounts for consolidation /conversion worksheet. - allocate 12.3% of Building Corporation cash for Public Works Building to Wastewater trial balance. Beginning Cash - 1/1/14 (per prior year audit) 76,129.30 Lease Rental Paid by Wastewater 83,025.00 #641- 0630 - 793 -37 -11 and 12 Wastewater Principal Paid - $525,000.00 x 12.3% (64,575.00) Wastewater Interest Paid - $145,625.00 x 12.3% (17,911.88) Ending Cash - 12131/14 76,667.43 15 ity of South bend, Indiana uilding Corporation Transactions Per Trustee Statements alendar Year 2014 Wells Fargo Wells Fargo Wells Fargo 1,000.00 Debt Service - Principal 525,000.00 - 1,120,000.00 2010 COIT 2001 COIT 2010 Refunding US Bank US Bank US Bank US Bank Transfer to Other Accounts (1) 2010 Refunding 2010 Refunding Public Works 2012 Police /Fire 2012 Police /Fire 2012 Police /Fire 2013 Rev Bond 1,000.00 250,994.51 Debt Reserve Sinking Fund Operation /Res. Sinking Fund Oper /Reserve Reserve Sinking Fund 10835901 10835900 10835905 20039600 200396001 200396002 206670000 3alance @ January 1, 2014 $ 607,500.00 $ 27.80 $ 5,249.16 $ 9,036.72 $ 4,797.39 $ $ - Receipts: Interest - 60.99 0.05 11.62 2.26 1.72 Lease Payments from City 675,000.00 - 1,569,000.00 - 205,750.00 Transfer From Other Accounts (1) - 4,435.00 12,033.17 45,245.66 Total Receipts 675,060.99 4,435.05 1,569,011.62 12,035.43 250,997.38 Account Fees - 2,000.00 1,000.00 Debt Service - Principal 525,000.00 - 1,120,000.00 - - Debt Service - Interest 145,625.00 446,010.00 142,197.00 Transfer to Other Accounts (1) 4,435.00 12,033.17 - 108,797.51 Total Disbursements - 675,060.00 2,000.00 1,578,043.17 1,000.00 250,994.51 Balance @ December 31, 2014 $ 607,500.00 $ 28.79 $ 7,684.21 $ 5.17 $ 15,832.82 $ $ 2.87 $1,395,500 Assured Guaranty Insurance City of South Bend, Indiana Building Corporation Transactions Per Trustee Statements Calendar Year 2014 US Bank US Bank US Bank US Bank 2013 Rev Bond 2013 Rev Bond 2013 Rev Bond 2013 Rev Bond Oper /Reserve Reserve Const Fund Bond Int Acct Grand 206670001 206670002 206670003 206670004 Total Balance @ January 1, 2014 $ - $ 1.00 $ 100.20 $ 45,245.39 $ 671,957.66 Interest 10.90 15.78 0.27 103.59 Lease Payments from City - - - 2,449,750.00 Transfer From Other Accounts (1) 108,797.50 - - 170,511.33 Total Receipts 108,808.40 15.78 0.27 2,620,364.92 Account Fees 950.00 1.00 3,951.00 Debt Service - Principal - - 1,645,000.00 Debt Service - Interest - - - 733,832.00 Transfer to Other Accounts (1) 45,245.66 170,511.34 Total Disbursements 950.00 1.00 45,245.66 2,553,294.34 Balance @ December 31, 2014 $ 107,858.40 $ - $ 115.98 $ - $ 739,028.24