HomeMy WebLinkAbout2015 Fiscal DashboardDepartment of Administration and Finance
July 11, 2016
City of South Bend, IndianaFiscal StabilityPerformance Indicators
20142015Progress
City Real & Personal Property Values (Net Assessed Value in Billions of $)
$2.210$2.260
Annual General Fund Expenditures per Capita
$658
$611
GeneralFund Balance as % of Expenditures
41.43%49.53%
Bond Rating(Standard & Poor’s)
AA
AA
Debtper Capita
$2,324$2,487
Debt as % of Net Assessed Valuation (NAV)
10.64%11.13%
Full Time Employeesper 1,000 residents
10.9
10.5
Property Tax Revenue (All Funds)
$72,034,021$70,914,835
Local Option Income Tax Revenue
$23,822,661$24,507,308
Annual Governmental Fund Ex
penditures per Capita
$1,525$1,707
Generaland Local Income Tax Fund Expenditures per Capita
$864
$811
Performance Key:
Improving Staying about the sameDeclining
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
City Real & Personal Property ValuesWhy is this important?One large source of revenue for the City of South Bend is
property taxes which the residents pay each year. As
taxable values change, so does the tax revenue. The tax revenue is essentia
l to providing the services to the
residents of the City of South Bend t
hat they have come to know and expect.
$4,560
$4,543
$5,009
$5,041
$5,387
$5,072
$4,992
$4,911
$5,091
$4,843
$4,837
$2,819
$2,835
$3,022
$2,976
$2,669
$2,454
$2,324
$2,381
$2,371
$2,210
$2,260
$0
$1,000$2,000$3,000$4,000$5,000$6,000
2004/20052005/20062006/20072007/20082008/20092009/
20102010/20112011/20122012/20132013/20142014/2015
In Millions
Gross Assessed Value
Net Assessed Value
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
General Fund Budget and FinancesYearStatusGeneralFund Revenues
General Fund Expenditures
Net Change in Fund Balance
General Fund
Ending Balance2015**Audited$64,855,322$61,820,671$3,034,651$30,622,0562014*Audited$66,512,478$66,593,986($81,508)$27,587,4052013Audited$72,115,610$73,241,780($1,126,170)$27,668,9132012Audited$75,234,013$74,370,146$863,867$28,795,0832011Audited$73,049,860$73,855,786($805,926)$27,931,2162010Audited$73,963,008$69,844,321$4,118,687$28,737,1422009Audited$59,313,038$62,111,167($2,798,129)$24,618,4552008Audited$69,247,990$65,592,159$3,655,831$27,416,584* Decrease in 2014 due to paying
a portion of the police and fire salaries from PS LOIT Fund.
** Decrease in 2015 due to the transfer of the Emergency Medical Services (EMS) from G
eneral Fund to a separately dedicated EMS Fund.
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
Annual General Fund Expenditures per Capita* Decrease in 2014 due to paying
a portion of the police and fire salaries from PS LOIT Fund.
** Decrease in 2015 due to the transfer of the Emergency Medical Services (EMS) from G
eneral Fund to a separately dedicated EMS Fund
.
Why is this important?Cost per resident is a measure of how much it costs to
operate the City on a per-person basis. The City of South
Bend continues to explore ways to pr
ovide high-quality services to resi
dents at the lowest possible cost.
$648
$614
$690
$730
$735
$724
$658
$611
$500$550$600$650$700$750
2008200920102011201220132014*2015**General Fund Expendi
tures per Capita
(Pop. 101,168)
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
General Fund Balance % of ExpendituresWhy is this important?The financial health of the City is im
portant to provide and maintain serv
ices. The General Fund Balance is
one method of measuring financial health, and is a strong
contributor to the credit rating of an organization.
Note: Expenditures include transfers to other funds
. Fund balance is defined as ending fund balance.
41.80%
39.64%
41.14%
37.82%
38.72%
37.78%
41.43%
49.53%
24.30%
18.20%
16.50%
19.70%
20.10%
21.80%
22.80%
15.00%20.00%25.00%30.00%35.00%40.00%45.00%50.00%55.00%
20082009201020112012201320142015General Fund Balance % of Expenditures
Minimum Threshold per Board Policy
National League of Cities
Survey (2015 unavailable)
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Department of Administration and Finance
July 11, 2016
City of South Bend, IndianaBond Rating
Why is this important?The bond or credit rating is a measure of the City’s fin
ancial reputation. A good cr
edit rating enables the City
to borrow money for construction proj
ects and other needs at the most competitive rates available. This
saves thousands of taxpayer dollars in interest payments.
020406080
100120140
AAA AA+
AA
AA-
A+
A
A-BBB+BBBBBB-
Indiana Local Government St
andard & Poor's Bond Ratings
South Bend's S&P rating is AAState of Indiana’sS&P rating is AAA
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Department of Administration and Finance
July 11, 2016
City of South Bend, IndianaDebt per Capita
Why is this important?The City of South Bend issues long-te
rm debt for large capital projects, su
ch as local water and sewer projects,
economic development projects and capital leases. Its debt burden is co
mputed as the outstanding principal
balance at year end on this debt.During 2015, the City issued bonds for Park improvements, energy savings pr
ojects at the Century Center and
the “Smart Streets” conversion of one-way to two-way streets to enhance economic development.
$1,830
$2,053
$2,314
$2,239
$2,325
$2,363
$2,603
$2,488
$2,324
$2,487
$500
$1,000$1,500$2,000$2,500$3,000
2006200720082009201020112012201320142015Primary Government Debt Per Capita
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
Debt as % of Net Assessed Value (NAV)Why is this important?The lower the debt to Net Assessed Valuation ratio, the more financially healthy a community is. City borrowing in
recent years includes revenue bonds for the Sewer Long-Term Control Plan that will be funded with higher sewer
rates. New Sewer bonds were
not issued during 2013 -2015.In 2015, the City issued bonds for parks improvements, energy savings projec
ts at the Century Center and the
“Smart Streets” conversion of one-way to two way streets to enhance economic activity.
6.74%
7.07%
8.16%
8.91%
9.59%
10.29%
11.06%
10.61%
10.64%
11.13%
0%2%4%6%8%
10%12%
2006200720082009201020112012201320142015Primary Government Debt Debt as a % of Net Assessed Value Capita
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
Full Time Number of Employees
Why is this important?A measure of efficiency is the
number of employees over 1,000 re
sidents. The lower the ratio of
employees over 1,000 residents,the more efficient
the City is providing services to the community.Note: The change in full time employees vs.
employees per 1,000 residents is due mainly
layoffs due to circuit breaker issuesand the privatization
of the zoo and the management
of the convention center along with the transfer of 911 call cent
er operations to Saint Joseph County. Full time
employees determined at year-
end. (2010 Census population of 101,168 used for calculation.)
1,288
1,230
1,213
1,116
1,132
1,133
1,122
1,131
1,098
1,060
12.7
12.2
12.0
11.0
11.2
11.2
11.1
11.2
10.9
10.5
9.5 10.0 10.5 11.0 11.5 12.0 12.5 13.0 13.5 14.0
0
2004006008001,0001,2001,400
2006200720082009201020112012201320142015Primary Government Full Time Employees
Primary Govrnment Employ
ees per 1,000 Residents
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
Property Tax Revenue –All Funds –Cash BasisWhy is this important?Property tax revenue is the larges
t source of revenue for governmental operations
such as police and fire protection. In 2008,
the State of Indiana passed “Circuit Break
er” property tax reform which capped proper
ty tax rates and reduced revenue for local
governmental units.In 2015, General Fund and Parks & Recreation Fund property tax revenue increased
while Tax Increment Financing (TIF)
property tax revenue declined due
to TIF consolidations.
$84.5
$74.3
$77.3
$73.0
$72.9
$70.0
$72.0
$70.9
$60$65$70$75$80$85$90
20082009201020112012201320142015
In Millions
Property Tax Revenue (in millions)
10
Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
Local Option Income Tax Revenue -Cash BasisWhy is this important?Local option income taxes (COIT, CEDIT, PS LOIT) ar
e an important source of revenue for governmental
operations, including public safety and c
apital projects. Effective for fisca
l year 2010, Local Option Income
Tax rates were increased in response to State Legisl
ation reducing property tax revenue. Local income
taxes are charged on wages paid to employees and hav
e increased as the local economy has improved.
$10.2
$12.1
$22.8
$19.7
$24.3
$21.9
$23.8
$24.5
$0$5
$10$15$20$25$30
20082009201020112012201320142015
In Millions
Local Option Inco
me Tax Revenue (in millions)
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
Governmental Funds Budget and FinancesYearStatus
Governmental Fund
Revenues
Governmental Fund
Expenditures
Other
Sources
and (Uses)
Net Change in Fund Balance
Governmental Fund Ending Balance
2015Audited$142,719,826$172,658,
733$36,278,971$6,340,064$200,826,7362014Audited$144,489,791$154,300,09
7$7,111,663($2,698,643)$194,486,672
2013Audited$151,152,474$152,860,
750$10,810,800$9,102,524$197,185,3152012Audited$147,379,084$162,460,00
0$6,929,631($8,151,258)$188,082,791
2011Audited$152,877,172
$172,397,679$7,552,867($11
,967,640)$196,234,076
2010Audited$158,342,276$150,758,
014$4,567,041$12,151,303$208,201,7162009Audited$130,932,134$142,962,71
0$2,207,394($9,823,182)$196,050,413
2008Audited$139,717,856$138,022,79
5$51,746,178$53,441,239$205,873,595
Governmental funds account for the general operations of the City (i.e. police and fire protection, road
maintenance and economic development). Governmental funds receive property taxes, local income taxes,
grants, interest income and other sources of revenue. Other sources in
clude transfers from other funds,
proceeds from debt issuance, debt refunding
, claim settlements and other one-time items.
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
Annual Governmental Funds Expenditures per CapitaWhy is this important?Cost per resident is a measure of how much it costs to
operate the City on a per-person basis. The City of South
Bend continues to explore ways to pr
ovide high-quality services to resi
dents at the lowest possible cost.
The increase in per capita expenditures in 2015 is due primarily to spending on capital projects using bond proceeds
or cash reserves.$1,364
$1,413
$1,490
$1,704
$1,606
$1,511
$1,525
$1,707
$500$700$900
$1,100$1,300$1,500$1,700$1,900
2008
2009
2010
2011
2012
2013
2014
2015
Governmental Funds Expenditures per Capita (Pop. 101,168)
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
General & Local Income Tax Funds Budget and FinancesYearStatusGeneral &Local Income Tax Funds Revenues
General &Local Income TaxFunds
Expenditures
Other
Sources and (Uses)
Net Change in Fund Balance
General & Local IncomeTax
Funds Ending Balance
2015Audited$86,414,320 $82,001,807 ($5,388,924)($976,411)$54,464,156 2014Audited$86,650,588 $87,473,563 ($1,164,280)($1,987,255)$55,440,567 2013Audited$83,120,786 $82,852,504 ($2,783,885)($2,515,603)$57,427,822 2012Audited$88,482,061 $84,289,339 ($2,175,271)$2,017,451 $59,943,425 2011Audited$87,039,700 $85,170,478 ($323,557)$1,545,665 $57,925,974 2010Audited$92,166,343 $75,170,006 ($2,295,699)$14,700,638 $56,380,309 2009Audited$71,401,298 $64,725,591 ($4,426,984)$2,248,723 $41,679,671 2008Audited$79,453,180 $70,249,980 ($4,544,082)$4,659,118 $39,230,948 The General Fund and Local Income Tax Funds
(COIT, EDIT and Public Safety LOIT) account for the general operations of the city
including police and fire protection, economic
development, code enforcement, debt servic
e and capital. Due to circuit breaker
tax
caps, property tax revenue
has declined while local income tax revenue has increased. Other sources include transfers from other
funds, proceeds from debt issuanc
e, debt refunding, claim settlements and other one-time items.
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Department of Administration and Finance
July 11, 2016
City of South Bend, Indiana
Annual General & Local Income Tax Funds Expenditures per CapitaWhy is this important?Cost per resident is a measure of how much it costs to operate the City on a per-person basis. The
City of South Bend continues to explore ways to provide high-quality services to residents at the lowest possible cost. Property tax and local income tax revenue provide the majority of revenue for
these funds.$694
$640
$743
$842
$833
$819
$865
$811
$500$550$600$650$700$750$800$850$900
20082009201020112012201320142015General & Local Income Tax Funds Ex
penditures per Capita (Pop. 101,168)
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