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Management Discussion & Analysis
<br /> Proprietary funds
<br /> Condensed Statement of Net Assets,
<br /> Revenues, Expenses, and Changes in Fund Net Assets
<br /> As of December 31, 2011
<br /> $(whole) Water Utility Wastewater Century Center Other Total Enterprise Internal Service
<br /> Utility
<br /> Total assets 71,030,220 172,819,449 18,679,478 15,266,825 277,795,972 17,682,256
<br /> Total liabilities 17,036,435 91,481,057 336,231 4,540,920 113,394,643 3,820,779
<br /> Net assets:
<br /> Capital assets net of debt 47,165,632 33,501,672 16,641,420 6,614,304 103,923,028 1,305,486
<br /> Restricted for:
<br /> Debt service - - - 708,678 708,678
<br /> Capital outlay 505,712 10,318,594 1,344,057 60,947 12,229,310
<br /> Unrestricted 6,322,441 37,518,126 357,770 3,341,976 47,540,313 12,555,991
<br /> Total net assets 53,993,785 81,338,392 18,343,247 10,725,905 164,401,329 13,861,477
<br /> Operating revenues 13,327,404 28,867,423 1,491,634 8,190,044 51,876,505 17,985,280
<br /> _Operating expenses 11,066,326 18,717,052 2,993,165 8 258 990 41,035,533 17,396,743
<br /> Operating income(loss) 2,261 078 10,150,371 (1,501,531) (68,946) 10,840,972 588,537
<br /> Non operating rev(exp) (117,572) (2,846,989) 1,297,735 (714,626) (2,381,452) 57,446
<br /> Income (loss) before 2,143,506 7.303.382 (203,796) (783,572) 8,459,520 645,983
<br /> contributions 8 Iransfers
<br /> Capital conlrlbutions 377,308 3.300,000 614,423 - 4,291,731 2 784
<br /> Transfers in - - - 651,500 651,500
<br /> Transfers out _ (1,398 419) (2,290,752) (3,505) (3,692,676)
<br /> Change in net assets 1,122,395 8,312,630 410 627 (135,577) 9,710,075 648 767
<br /> Net assets beginning 52,871,390 73,025,762 17,932,620 10,861,482 154,691,254 13,212,710
<br /> Net assets ending 53,993,785 81,338,392 18,343.247 10,725,905 164 401 329 13,861,477
<br /> The City of South Bend maintains two types of proprietary funds; enterprise and internal service.
<br /> The City maintains seven (7) enterprise funds. Information is presented separately in the
<br /> proprietary statement of net assets and the proprietary statement of revenues, expense and
<br /> changes in fund net assets for the Water Utility, Wastewater Utility and Century Center, which are
<br /> considered major enterprise funds. Data from the other four (4) non-major enterprise funds
<br /> (Consolidated St. Joseph County/South Bend Building Department, Parking Garage, Solid Waste
<br /> and Blackthorn Golf Course) are combined into a single, aggregated presentation.
<br /> The City maintains five (5) internal service funds. The City of South Bend uses internal service
<br /> funds to account for its business insurance and self-funded liability insurance program, self-
<br /> funded employee health benefits program, police take home vehicle program, unemployment
<br /> compensation claims and central services unit (a department that accounts for expenses related
<br /> to fuel, vehicle repairs, printing and other services provided to City departments on a cost-
<br /> reimbursement basis). The internal service funds have been combined into a single, aggregated
<br /> presentation.
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