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Management Discussion & Analysis
<br /> Financial Analysis of Government Funds
<br /> The City of South Bend uses fund accounting to ensure and demonstrate compliance with
<br /> finance-related legal requirements. Funds of the City are divided into three categories:
<br /> governmental funds, proprietary funds and fiduciary funds.
<br /> Governmental funds
<br /> Condensed Balance Sheet,
<br /> Statement of Revenues, Expenditures, and Changes in Fund Balance
<br /> As of December 31, 2011
<br /> $(whole) General Park&Rec PS LOIT COIT EDIT TIF Airport Other Total
<br /> Total assets 31,371,631 4,990,005 2,228,508 18,592,068 9,994,625 34,081,655 113,966,380 215,224,872
<br /> Total liabilities 3,440,415 462,651 - 663,230 157,213 3,642,349 10,624,938 18,990,796
<br /> Fund Balances:
<br /> Non-spendable 1,115,025 64,231 3,395,837 449,831 11,322,131 21,804,809 38,151,864
<br /> Restricted 327,267 4,463,123 2,228,508 38,062,406 45,081,304
<br /> Committed - - - - - - 11,829,074 11,829,074
<br /> Assigned 255,287 - - 14,533,001 9,387,581 19,117,175 34,422,527 77,715,571
<br /> Unassigned 26,233,637 - - - - (2,777,374) 23.456,263
<br /> Total fund balance 27,931,216 4,527,354 2,228,508 17,928,838 9,837,412 30,439,306 103,341,442 196,234,076
<br /> Liability&fund balance 31,371,631 4,990,005 2,228,508 18,592,068 9,994,625 34,081,655 113,966,380 215,224,872
<br /> Revenues 64,592,024 11,392,823 5,846,861 8,020,602 8,580,213 11,376,299 43,068,350 152,877,172
<br /> Expenditures 73,636,507 11,661,404 - 5,746,390 5,787,571 19,397,279 56,168,528 172,397,679
<br /> Net surplus(deficit) (9,044,483) (268,581) 5,846,861 2,274,212 2,792,642 (8,020,980) (13,100,178) (19,520,507)
<br /> Other sources(uses) 8,238,557 395,425 (4,761,979) (1,263,386) (2,536,759) (352,446) 7,833,455 7,552,867
<br /> Change in fund balance (805,926) 126,844 1,084,882 1,010,826 255,883 (8,373,426) (5,266,723) (11,967,640)
<br /> Beginning fund balance 28,737,142 4,400,510 1,143,626 16,918,012 9,581,529 38,812,732 108,608,165 208,201,716
<br /> Ending fund balance 27 931,216 4,527,354 2 228 508 17,928,838 9,837,412 30 439 306 103,341,442 196,234,076
<br /> As of December 31, 2011, the City governmental funds reported a combined ending fund balance
<br /> of$196,234.076.
<br /> Non-spendable fund balance of $38,151,864 is sequestered for property held for resale,
<br /> inventory, non current loans receivable and advances to other funds and is, therefore, not
<br /> available for new spending. Restricted fund balance of $45,081,304 consists of monies in debt
<br /> service funds or other funds such as road funds that are limited by external parties as to their use.
<br /> Committed fund balance of $11,829,074 is designated by the Common Council of the City of
<br /> South Bend to be used for certain purposes such as for environmental projects. Assigned fund
<br /> balance of $77,715,571 includes balances in tax increment property tax funds and local option
<br /> income tax funds that have not been committed to certain projects and are available for spending
<br /> by the City. Unassigned fund balance of$23,456,263 consists of money primarily in the General
<br /> Fund that has not been obligated in any manner by the City.
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