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CITY OF SOUTH BEND OFFICE OF THE CLERK Mr. Parker replied, I would like to tack something onto that answer for Councilmember White. That is from an income perspective. That is the two(2)to three(3)year outlook. From just an asset perspective, we've done a lot to try and build up our liquidity and that is evidenced by moving$10 million more into the investment side. We have a lot of cash on hand to account for unforeseen expenses or drops in revenue, from that perspective. He continued, The investments are one (1) part of the picture when it comes to the Board of Finance. We also have cash outside of our investments and they are kept in deposit accounts. Rahman Johnson, Director of Treasury with offices located on the 12th floor of the County-City Building, stated,Continuing flipping through the report, I'm sure you've all seen this on a monthly basis. This is the Controller's Cash Report. It is simply a summary of where we are at for the month. I'll direct you to the last page of the report, bottom right, just above Total Cash for Investments, we are at $390 million for our cash balances in all the funds. The next page deals with cash reserves summary by fund.We do a great job of maintaining our cash reserves and you'll notice at the top there are about five (5) listed with insufficient balances and that is due to encumbrances. Again, directing you to the previous page in the total report, our cash balances are healthy. If you go to the next page, you'll see City of South Bend Cash Balance in all funds. This starts from 2007 and goes all the way to present. If you got to 12/31, you'll see the ending balance of$309 million and then it's broken down by Enterprise Funds, Redevelopment Funds and Civil City Funds. The next page is another break down of the Enterprise Funds dating back to 2007. Likewise, with Civil City Funds dating back to 2007. The next page I'm at is the Interest Income Summary, page thirty-one (31). As Paul mentioned, we are looking to do just above $4 million this year. As of December 31, 2018, we were at $4.8 million. Now, that includes investments as well as our regular 1St Source Checking account that gets interest. So, we are well above where we were a while back. The next page is just a graph. Then, the interest earnings summary is more detailed by fund and shows you which funds receive that interest to make up that$4.8 million. The next page is the cash reserve policy and the percentage required for each fund. Then the final back pages have information about our investment people at 1' Source Bank. Board President Voorde stated, I don't remember seeing these cash reserve policy totals for all these funds, so I appreciate that. Mr. Parker followed up, I will point out that these reserve thresholds are set internally and are actually set in excess of recommendation. The Government Finance Officer's Association has a recommendation that the General Fund maintain two (2) months worth of expenditures, which is about seventeen and a half percent(17.5%) and we are actually at double that. Councilmember White stated, I was going to ask about that. We are at thirty-five percent(35%). Mr.Parker replied,And that is our minimum. If you look at where we are right now,we are actually at sixty-one percent (61%) of our General Fund expenditures, in cash. So, we do have quite a bit of cash on hand. Councilmember Jo M. Broden asked, What is the rationale for it being that high? As an Administration, why do you choose that? Why do we continue to let it grow? EXCELLENCE ACCOUNTABILITY INNOVATION j INCLUSION ; EMPOWERMENT 455 County-City Building 227W.Jefferson Bvld South Bend,Indiana 466011p 574.235.9221 f 574.235.9173 TTD574.235.5567 www.southbendin.gov .southbendin.gov 4