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411110 CITY OF SOUTH BEND OFFICE OF THE CLERK
<br /> Mr. Parker replied, So, the capital projects funds, the reason why that difference is so large is, as I
<br /> said, because usually we don't establish reserve requirements for capital project funds. So,most of
<br /> the money that we have in capital projects funds is meant solely for a particular capital project,
<br /> and so we expect to spend all of that down so there's no reserve requirement.
<br /> Councilmember McBride followed up, And maybe this would be for the Mayor, but for instance
<br /> and I don't want to forget that, but those are some of the questions. Like, for 2019, if it is in this
<br /> or can you give it to us later?What outstanding projects do we have that are anticipated to be spent
<br /> down in 2019?
<br /> Mr. Parker replied, Yes, so the biggest one I can tell you right now is the My SB Parks & Trails
<br /> Initiative. So, a lot of that were the parks bonds that we issued. The proceeds from those bonds
<br /> were put into a capital projects fund that are being spent out on Howard Park, Pinhook Park and
<br /> all the different parks projects around the community. And there's other ones as well.
<br /> Councilmember McBride then asked, In your presentation somewhere, will it be laid out?
<br /> Mr. Parker replied, It's not in the presentation. I can get with you afterwards as well,but it is in the
<br /> monthly report we send out, it shows all of the funds. This is just a summary of them,but it shows
<br /> all the funds in detail and how they relate to their cash reserve requirement.
<br /> Councilmember Tim Scott asked, And that comes from Amy?
<br /> Mr. Parker replied, It does. She sends it out.
<br /> Councilmember McBride stated, Yes, I think I recall that, but I just wanted to know. I'm very
<br /> pleased about the presentation but where we are, anticipating where we are, I know the actual, but
<br /> are we going to hit that mark or is it going to carry over for next year?
<br /> Mr. Parker clarified, In terms of are we going to spend down the capital projects this year? We
<br /> won't spend all of it down, and we really won't, and probably shouldn't, get to a position where
<br /> we do spend all of it down. The reason why is we continuously try to replenish those capital funds
<br /> from operations so that we have capital dollars available as the projects go on.
<br /> Councilmember Tim Scott left the meeting at 5:25 p.m.
<br /> Councilmember McBride followed, But as it relates to some of the reserves that are a lot higher
<br /> than the requirements? Is the money going to be put into other uses?
<br /> Mr. Parker replied, Yes, and frankly, that's the analysis that we try to do every day, especially as
<br /> different projects come up and as they become available. We look at if the money is available, and
<br /> what can that money be used for? Again, it's important to remember that a lot of this money, even
<br /> though it's over the reserve requirement,is restricted for use. So,if you look at,for example,capital
<br /> projects funds, or enterprise funds, money in the enterprise funds that comes through the water
<br /> utility or the waste water utility is pretty segregated for capital projects for water and waste water
<br /> because they have a lot of capital needs and we want to make sure that money is restricted for
<br /> EXCELLENCE ACCOUNTABILITY INNOVATION I INCLUSION I EMPOWERMENT
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