HomeMy WebLinkAbout2021 Annual Comprehensive Financial ReportCity of South Bend, Indiana
Table of Contents
Introductory Section
Letter of Transmittal ................................................................................................................................ 1-6
GFOA Certificate of Achievement ............................................................................................................. 7
Organization Chart ...................................................................................................................................... 8
List of City Officials .................................................................................................................................... 9
Financial Section
Independent Auditor's Report ............................................................................................................ 10-12
Management's Discussion and Analysis ........................................................................................... 13-33
Basic Financial Statements................................................................................................................. 34-48
Government-wide Financial Statements:
Statement of Net Position ......................................................................................................... 35-36
Statement of Activities .................................................................................................................... 37
Fund Financial Statements:
Governmental Funds:
Balance Sheet ......................................................................................................................... 38
Reconciliation of the Balance Sheet to the Statement of Net Position.................................... 39
Statement of Revenues, Expenditures, and Changes in Fund Balances ............................... 40
Reconciliation of the Statement of Revenues, Expenditures, and Changes in
Fund Balances to the Statement of Activities ................................................................... 41
Proprietary Funds:
Statement of Net Position ................................................................................................... 42-43
Statement of Revenues, Expenses, and Changes in Net Position ......................................... 44
Statement of Cash Flows ................................................................................................... 45-46
Fiduciary Funds:
Statement of Fiduciary Net Position ........................................................................................ 47
Statement of Changes in Fiduciary Net Position ..................................................................... 48
Notes to the Financial Statements ..................................................................................................... 49-99
Summary of Significant Accounting Policies
Note 1 Summary of Significant Accounting Policies ............................................................ 50-61
Stewardship and Compliance
Note 2 Stewardship, Compliance, and Accountability .......................................................... 61-63
Detailed Disclosures Regarding Assets and Revenues
Note 3 Deposits and Investments ........................................................................................ 63-65
Note 4 Receivables ................................................................................................................... 65
Note 5 Net Investment in Capital Assets ................................................................................... 66
Note 6 Capital Assets ........................................................................................................... 66-68
Note 7 Interfund Receivables, Payables, and Transfers ...................................................... 69-70
City of South Bend, Indiana
Table of Contents (Continued)
Detailed Disclosures Regarding Liabilities and Expenses
Note 8 Leases ........................................................................................................................... 71
Note 9 Long-term Obligations .............................................................................................. 72-79
Note 10 Restricted Assets ........................................................................................................... 80
Note 11 Property Held for Resale ............................................................................................... 80
Note 12 Service Concession Arrangement ................................................................................. 80
Note 13 Risk Management ..................................................................................................... 80-82
Note 14 Subsequent Events ........................................................................................................ 82
Note 15 Conduit Debt Obligations ............................................................................................... 82
Note 16 Fund Balance Constraints ............................................................................................. 83
Note 17 Other Postemployment Benefits ............................................................................... 84-86
Note 18 Pension Plans ........................................................................................................... 87-98
Note 19 Pension Trust Funds ...................................................................................................... 98
Other Note Disclosures
Note 20 Reporting Changes ........................................................................................................ 98
Note 21 Closure and Post-closure Care Cost ............................................................................. 99
Note 22 Tax Abatements ............................................................................................................. 99
Required Supplementary Information ............................................................................................ 100-123
1925 Police Officers' Pension Plan
Schedule of Investment Returns .................................................................................................. 101
Schedule of City Contributions ..................................................................................................... 102
Schedule of Changes in the City’s Net Pension Liability and Related Ratios ............................. 103
1937 Firefighters’ Pension Plan
Schedule of Pension Investment Returns .................................................................................... 104
Schedule of City Contributions ..................................................................................................... 105
Schedule of Changes in the City’s Net Pension Liability and Related Ratios ............................. 106
Public Employees’ Retirement Fund
Schedule of City Contributions ..................................................................................................... 107
Schedule of the City's Proportionate Share of the Net Pension Liability ..................................... 108
1977 Police Officers’ Pension and Disability Fund
Schedule of City Contributions ..................................................................................................... 109
Schedule of the City's Proportionate Share of the Net Pension Liability ..................................... 110
1977 Firefighters’ Pension and Disability Fund
Schedule of City Contributions ..................................................................................................... 111
Schedule of the City's Proportionate Share of the Net Pension Liability ..................................... 112
Schedule of Changes in the City’s Total OPEB Liability and Related Ratios .................................... 113
Budgetary Comparison Schedules - General Fund and Major Special Revenue Funds ............ 114-120
Budget/GAAP Reconciliation .............................................................................................................. 121
Notes to Required Supplemental Information ............................................................................. 122-123
Other Supplemental Information .................................................................................................... 124-231
General Fund:
Combining Balance Sheet ........................................................................................................... 125
Combining Statement of Revenue, Expenditures, and Changes in Fund Balances ................... 126
City of South Bend, Indiana
Table of Contents (Continued)
Nonmajor Governmental Funds:
Fund Descriptions ................................................................................................................. 127-131
Combining Balance Sheet .................................................................................................... 132-141
Combining Statement of Revenue, Expenditures, and Changes in Fund Balances ............ 142-150
Budgetary Comparison Schedules – Nonmajor Governmental Funds ................................. 151-219
Nonmajor Enterprise Funds:
Fund Descriptions ........................................................................................................................ 220
Combining Statement of Net Position .......................................................................................... 221
Combining Statement of Revenue, Expenses, and Changes in Net Position ............................. 222
Combining Statement of Cash Flows ........................................................................................... 223
Internal Service Funds:
Fund Descriptions ........................................................................................................................ 224
Combining Statement of Net Position .......................................................................................... 225
Combining Statement of Revenue, Expenses, and Changes in Net Position ............................. 226
Combining Statement of Cash Flows ........................................................................................... 227
Fiduciary Funds:
Fund Descriptions ........................................................................................................................ 228
Statement of Fiduciary Net Position ............................................................................................. 229
Statement of Changes in Fiduciary Net Position ......................................................................... 230
Schedule of Changes in Assets and Liabilities – Custodial Fund ................................................ 231
Statistical Section
Statistical Section Outline ...................................................................................................................... 233
Financial Trends Information .......................................................................................................... 234-240
Net Position by Component ................................................................................................................ 235
Changes in Net Position .............................................................................................................. 236-237
Fund Balances - Governmental Funds ............................................................................................... 238
Changes in Fund Balances - Governmental Funds ........................................................................... 239
Financial Institutions ........................................................................................................................... 240
Revenue Capacity Information ....................................................................................................... 241-261
Property Tax Levies and Collections .................................................................................................. 242
Direct and Overlapping Property Tax Rates ....................................................................................... 243
Detail of Net Assessed Value ............................................................................................................. 244
Assessed Value and Actual Value of Taxable Property ..................................................................... 245
Net Assessed Value of Taxable Property ........................................................................................... 246
Assessed Value of Taxable Property ................................................................................................. 247
Property Tax Collections - Cash Basis ............................................................................................... 248
Circuit Breaker Property Tax Cap Credits .......................................................................................... 249
Principal Property Taxpayers ............................................................................................................. 250
Local Income Tax Revenue - Economic Development Component ................................................... 251
Local Income Tax Revenue - Certified Shares Component ............................................................... 252
Local Income Tax Revenue - Public Safety Component .................................................................... 253
Total Local Income Tax Certified Shares Distributions by Taxing Unit .............................................. 254
Ten Largest Water Customers ........................................................................................................... 255
Ten Largest Sewage Works Customers ............................................................................................. 256
Gasoline Tax Collections - Cash Basis .............................................................................................. 257
Wheel and Excise Surtax Collections - Cash Basis ........................................................................... 258
Hotel/Motel Tax Revenue - Cash Basis - City Distributions ............................................................... 259
Professional Sports Convention Development Area (PSCDA) Tax - Cash Basis .............................. 260
Cable Television Franchise Fee Collections - Cash Basis ................................................................. 261
City of South Bend, Indiana
Table of Contents (Continued)
Debt Capacity Information .............................................................................................................. 262-280
Computation of Legal Debt Margin ..................................................................................................... 263
Legal Debt Margin Information ........................................................................................................... 264
Ratios of Outstanding Debt by Type................................................................................................... 265
Computation of Direct and Overlapping Debt ..................................................................................... 266
Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt to Total
General Government Expenditures ............................................................................................. 267
Ratio of Net General Obligation Bonded Debt to Net Assessed Value and Net Bonded Debt Per
Capita ........................................................................................................................................ 268
St. Joseph County Hotel/Motel Tax Board - Pledged Revenue Coverage ........................................ 269
Schedule of Revenue Bond Coverage
Water Utility Bonds ....................................................................................................................... 270
Wastewater Utility Bonds ............................................................................................................. 271
Municipal Sewage Works Annual Wastewater Flow Data and Number of Customers ...................... 272
Statement of City-Owned Utility Debt ................................................................................................. 273
Estimated Debt Service Coverage Calculation of Water Utility .......................................................... 274
Estimated Debt Service Coverage Calculation of Wastewater Utility ................................................ 275
Projected Local Income Tax Revenues
Certified Shares Component ........................................................................................................ 276
Economic Development Component ........................................................................................... 277
Public Safety Component ............................................................................................................ 278
Statement of Estimated Cash Flow and Debt Service Coverage - Local Income Tax
Certified Shares Component ........................................................................................................ 279
Economic Development Component ........................................................................................... 280
Demographic and Economic Information ...................................................................................... 281-286
Demographic Statistics ................................................................................................................ 282-283
Employment by Type and Industry ..................................................................................................... 284
Comparison of Growth Rates in Personal Income for St. Joseph County, the State of Indiana,
and U.S. ....................................................................................................................................... 285
Principal Employers ............................................................................................................................ 286
Operating Information ..................................................................................................................... 287-296
Operating Indicators by Function/Program ......................................................................................... 288
Capital Asset and Infrastructure Statistics by Function/Program ....................................................... 289
New Construction - Number of Permits and Property Values ............................................................ 290
Full-Time City Government Employees by Department .............................................................. 291-292
Salary Rate Comparison .................................................................................................................... 293
Insurance Coverage ........................................................................................................................... 294
Miscellaneous Statistics .............................................................................................................. 295-296
1200N COUNTY-CITY BUILDING PHONE 574.235.9216
227 W. JEFFERSON BLVD. FAX 574.235.9928
SOUTH BEND, INDIANA 46601-1830
CITY OF SOUTH BEND, IN JAMES MUELLER, MAYOR
DEPARTMENT OF ADMINISTRATION AND FINANCE
June 29, 2022
The Honorable James Mueller, Mayor of the City of South Bend
Members of the City of South Bend Common Council
Residents of the City of South Bend
The annual comprehensive financial report of the City of South Bend, Indiana (the "City") for the year ended December 31,
2021 is hereby submitted. Responsibility for both the accuracy of the data and the completeness and fairness of the presentation,
including all disclosures, rests with management. To the best of our knowledge and belief, the enclosed data is accurate in all
material respects and is reported in a manner designed to present fairly the financial position and results of operations of the
various funds of the City. All disclosures necessary to enable the reader to gain an understanding of the government’s financial
activities are included.
Accounting Principles Generally Accepted in the United States of America (US GAAP) require that management provide a
narrative introduction, overview and analysis to accompany the basic financial statements in the form of the Management’s
Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in
conjunction with it. The City of South Bend’s MD&A can be found immediately following the independent auditors’ report.
The Annual Comprehensive Financial Report is presented in four sections: introductory information, financial information,
statistical information and federal compliance information. The introductory section includes this transmittal letter, the City’s
organizational chart, a list of principal City officials and the Certificate of Achievement for Excellence in Financial Reporting
awarded to the City of South Bend for the year ending December 31, 2020. The financial section begins with the independent
auditors’ report on the City’s financial statements and schedules, the City managements’ discussion and analysis report, followed
by the City’s basic financial statements and accompanying notes. The remaining portion of this section includes the combining
and individual fund and other financial statements and schedules. The statistical section includes selected financial and
demographic information generally presented on a multi-year basis, which has been provided to give the reader a broader
understanding of the City. The federal awards compliance section, which includes the results of the supplemental audit
of the City’s federal awards and the internal controls necessary for compliance, is included in a separate report.
The City is required to undergo an annual single audit in conformity with the provisions of the Code of Federal Regulations Title
2 Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), the
provisions of Indiana Code section 5-11-1-9 and the requirements of the Indiana State Board of Accounts. Information related
to the single audit, including the schedule of federal financial assistance, findings and recommendations, and the auditors’ reports
on the internal control structure and compliance with applicable laws and regulations, is included in a separate report.
The following pages of this transmittal letter begin with a general overview of South Bend and the surrounding area. Also
summarized are the key financial, budgetary and property tax controls with which the City is required to comply. The remainder
includes a discussion of the prior year’s financial challenges and accomplishments, the City’s goals and objectives for this year and
beyond, and other key issues the City is facing along with the impact they may have on current and future budgets.
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GENERAL INFORMATION
The City of South Bend is the county seat of St. Joseph County, Indiana, and is the fourth largest city in the state. The City of
South Bend’s 2020 U.S. Bureau of the Census population was 103,453. Accordingly, South Bend is classified as a “City of the
Second Class” under Indiana statutes (cities with a population of 35,000 to 250,000). The City of South Bend operates with a
mayor as chief executive and a nine-member City Common Council composed of six members elected from districts and three
members elected at-large. The City of South Bend has a bond rating of AA with Standards & Poors, one of the highest bond
ratings for any city in the State of Indiana.
The City provides a full range of traditional general governmental services to its residents. These services include police and fire
protection; sanitation services; the construction and maintenance of highways, streets and infrastructure; recreational activities and
cultural events. In addition to general governmental activities, the City exercises oversight over the South Bend Water Works, the
South Bend Wastewater Treatment Facility, the Century Center Convention Center, the Morris Performing Arts Center, the
Studebaker National Museum, the City of South Bend Redevelopment Commission and Authority, and several downtown parking
facilities.
Location
St. Joseph County lies within the heartland of the manufacturing belt and metropolitan regions of the Upper Midwest and Canada.
The City of South Bend is located in the north central part of Indiana, ten miles south of the Michigan state line, in what is
commonly known as the “Michiana” region. The region is a vibrant and diverse area with a strong economy based on a mix of
health care, agricultural, service, manufacturing, education and other commercial and tourism industries. This diverse economic
mix creates varied employment opportunities for the area’s residents while providing insulation via diversification from future
economic downturns.
The city is approximately 90 miles east of Chicago and 140 miles north of Indianapolis. Accessibility to transportation, including
Interstate 80/90, an international airport (which is the second busiest in the State of Indiana) and the South Shore Line has
supported economic growth within the community. Proximity to Chicago, the largest rail and intermodal (rail/truck/ocean/inland
waterway) transfer point in the country, is a significant advantage to the City of South Bend as is proximity to the University of
Notre Dame with its scenic campus located adjacent to the city limits. In 2017, the City of South Bend announced plans to partner
with the Federal, State and other local governments to reduce the South Shore Line travel time to downtown Chicago to 90 minutes
or less. This project continued to mature in 2019 and 2020, during which the City joined other northern Indiana municipalities in
funding a double tracking project for the South Shore Line that is expected to significantly reduce travel time. When completed,
this project will be transformative to the local economy.
St. Joseph County / South Bend - Economic Conditions and Outlook
St. Joseph County, with its 2020 U.S. Bureau of the Census population of 272,912, boasts a strong history of manufacturing which
continues today. The service industry and retail trade have also flourished, creating a balance that serves the community well. The
County experienced a net growth in population of 33,487 (12.6% increase) between 1960 and 2020. After experiencing a reduction
of 2.6% during 1969 to 1983, at which time the entire Midwest was at the depth of its economic restructuring and recess, the
County’s population increased 4.0% between 1983 and 1990 and another 7.7% between 1990 and 2010. The population of St.
Joseph County grew again by 2.2% (5,981 residents) in the last decade between 2010 and 2020.
The estimated labor force in St. Joseph County is 136,843 workers (2021, STATS Indiana, using data from the Indiana Department
of Workforce Development). The workers are typical of the Midwest: well-trained with a strong work ethic. Approximately 89.8%
of the area’s adult population are high school graduates or higher (as compared to the national average of 88.3%) with an estimated
31% with a bachelor’s degree or higher. There are six colleges, universities and technical schools within South Bend and the
surrounding area, including the University of Notre Dame; Indiana University South Bend; Bethel College; Saint Mary’s College;
Holy Cross College; and Ivy Tech Community College. The St. Joseph County 2021 Annual Average Unemployment was 4.2%,
which is slightly higher than the state of Indiana unemployment rate of 3.6%. The unemployment rate in St. Joseph County
rebounded in 2021 from the high unemployment caused by the COVID-19 pandemic and was similar in 2021 to the surrounding
counties—Elkhart (2.5%), LaPorte (5.1%), and Marshall (2.7%) in Indiana (2021 Annual Average).
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The employment profile for St. Joseph County provides a good overview of the economic make-up of this community.
Employment estimates for the County’s major economic sectors are as follows (STATS Indiana 2021 Summary, using data from
US Bureau of Labor Statistics):
Economic Sector Number Employed % of Total
Health Care and Social Assistance 22,362 16.34%
Retail Trade 15,724 11.49%
Federal, State, & Local Government 14,252 10.41%
Manufacturing 13,985 10.22%
Educational Services 10,745 7.85%
Accommodation and Food Service 10,304 7.53%
Professional and Technological Services 7,770 5.68%
Construction 7,313 5.34%
Wholesale Trade 6,660 4.87%
Transportation and Warehousing 5,799 4.24%
Administrative and Waste Services 5,384 3.93%
Other Services 3,617 2.64%
Finance and Insurance 3,525 2.58%
Arts, Entertainment, and Recreation 2,909 2.13%
Management 2,355 1.72%
Information 1,605 1.17%
Real Estate, Rental, Leasing 1,588 1.16%
Agriculture, Forestry, Fishing, Hunting, Mining 700 0.51%
Utilities 246 0.18%
Total 136,843 100.00%
According to the United States Census Bureau, St. Joseph County presently has an estimated 100,861 households with a median
household income of $54,434, which compares to the State of Indiana median household income of $57,617 and the United States
median household income of $67,251. Surrounding counties have similar median household incomes—Elkhart ($58,350), La Porte
($51,584), and Marshall ($53,889) in Indiana and Cass ($52,741) and Berrien ($51,262) in Michigan.
Health and education lead the employment statistics for St. Joseph County. The largest employers in St. Joseph County are: Beacon
Health System, University of Notre Dame, South Bend Community School Corporation, St. Joseph Health System, Indiana
University – South Bend, St. Joseph County, City of South Bend, AM General, Honeywell International, Inc, and Press Ganey
Associates, Inc.
The following provides a profile of the residents of St. Joseph County (US Census Bureau 2020 American Community Survey 5-
Year):
Gender %, male/female: 48.59% male; 51.41% female
Age:
Under 20 years of age 27.1%
20-29 years of age 14.4%
30-39 years of age 11.9%
40-49 years of age 12.0%
50-59 years of age 12.0%
60-64 years of age 6.6%
65 years of age and older 15.9%
Race:
White 72.10%
Black or African American 11.35%
Hispanic or Latino 8.52%
American Indian and Alaska Native 0.47%
Asian 2.29%
Native Hawaiian and Other Pacific Islander 0.09%
Some other race 1.81%
Two or more races 3.38%
Home Ownership 67.8% own; 32.2% rent/other
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The cost of living continues to be one of the greatest advantages of living in this community. The housing costs in South Bend
are well below the national and regional averages. Per a report compiled by the National Association of Realtors in the first quarter
of 2022, the median sales price for a single-family home in the South Bend-Mishawaka Statistical Area was $159,900 as compared
to a median sales price of $299,000 in Chicago and $229,000 in Indianapolis. The national median sales price is $374,900.
Between January 2016 and December 2021, the City of South Bend has seen approximately $765 million in private investment and
the announcement of close to 2,800 new jobs. By providing state of the art innovative infrastructure and, in some cases, offering
targeted assistance the City can stimulate private investment, creating business opportunities and jobs. The City has had many
significant economic development projects to include new downtown residential housing, mixed use developments, downtown
hotels, and high-tech industrial projects. City investments encourage new start-up businesses, strengthen existing business, attract
new jobs, increase assessed value and emphasize direct investment in hard-to-develop areas. Efforts have been and will continue
to focus on implementing the comprehensive plans for our neighborhood and downtown areas.
The South Bend Community School Corporation serves the entire City and some of the surrounding area and has a current
enrollment of approximately 15,400 students in grades pre-kindergarten through 12. An estimated 6,630 students attend private
or parochial schools within the City. The six institutions of higher education and technical training located within the South Bend
area have a total enrollment of approximately 27,000. Over the years, the University of Notre Dame has provided a stabilizing
influence on the economy with a very significant positive economic impact upon the community.
South Bend History and Amenities
In 1820, Pierre Navarre of the American Fur Trading Company was the first settler in the area to become later known as South
Bend. South Bend has continued to progress in its growth since 1842 when Father Edward Sorin named his rustic log chapel
“Notre Dame du Lac” and began to teach the local Indians. Today the chapel has grown into the University of Notre Dame. In
1852, H.C. Studebaker started the industry of making wagons and horse-drawn buggies that evolved into the manufacturing of the
Studebaker automobile. It made the name Studebaker synonymous with the area of South Bend and its major employer until its
closure in 1963.
Another industrial firm that would later become the area’s largest began in 1923 when Vincent Bendix began manufacturing
automotive brakes. In 1929, the company became the Bendix Aviation Corporation, and now, as Honeywell (formerly AlliedSignal
Inc.), is a leading manufacturer of automotive and aerospace products. The Singer Sewing Company and the Oliver Chilled Plow
Works were other important companies during the early history of South Bend.
In the 1840s and 1850s, many South Bend residents were secretly involved in helping fugitive slaves escape from the South through
the Underground Railroad. Many residents of South Bend and St. Joseph County offered their homes, barns and businesses up
as “stations” or safe places in which runaways could eat and rest as they made their way North. Most notable among local
Underground Railroad conductors was James Washington, a well-known and well-respected free Black in South Bend. Mr.
Washington was a barber who, along with Mr. Sawyer, collected money from local citizens to fund the Underground Railroad.
Special attractions within the South Bend area include the Olympic-class East Race Waterway and the East Bank area; the renovated
Morris Performing Arts Center, which provides for the Broadway Theater League, the South Bend Symphony Orchestra with the
Chamber and Pops Orchestras, and the Southold Dance Theater and Patchwork Dance Company; the award-winning South Bend
Civic Theater; the Studebaker National Museum; the South Bend Museum of Art; the Snite Museum of Art at Notre Dame; the
Northern Indiana Center for History; Copshaholm/The Oliver Mansion; Century Center; Potawatomi Zoo; the Morris
Conservatory/Muessel-Ellison Tropical Gardens; the Farmers’ Market; and the Byers Softball Complex. The Four Winds Field
Baseball Stadium is a 5,600-seat facility which opened in 1987 and is rated among the best in minor league baseball. The stadium
is home to the South Bend Cubs, a minor league team affiliated with the Chicago Cubs.
Additional miscellaneous information about the City of South Bend can be found in the statistical section of this report.
Financial, Budgetary and Property Tax Controls
The City’s management team is responsible for establishing and maintaining an internal control structure designed to ensure that
the assets of the government are protected from loss, theft or misuse and to ensure that adequate accounting data is compiled to
allow for the preparation of financial statements in conformity with generally accepted accounting principles. The internal control
structure is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable
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assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of
costs and benefits requires estimates and judgments by management. On March 22, 2021 the South Bend Common Council
approved an updated Internal Controls policy for the City.
Single Audit
As a recipient of federal and state financial assistance, the City is also responsible for ensuring that an adequate internal control
structure is in place to ensure compliance with applicable laws and regulations related to those programs. This internal control
structure is subject to periodic evaluation by management of the City. As part of the City’s single audit described earlier, tests are
performed to review internal controls to determine the auditing procedures that are appropriate under the circumstances, including
that portion related to federal financial assistance programs, as well as to determine that the City has complied with applicable laws
and regulations. The results of the City’s single audit for the year ended December 31, 2021 are included in a separate report.
Budgetary Controls
In accordance with Indiana statutes, the City maintains budgetary controls integrated within the accounting system. The objective
of these budgetary controls is to ensure compliance with legal provisions embodied in the annual appropriated budget (prepared
on a cash basis) which is adopted by the Common Council or Redevelopment Commission (depending on the fund) and then
reviewed and approved by the State of Indiana Department of Local Government and Finance (DLGF). Activities of the general
fund, special revenue funds, capital project funds, enterprise funds, internal service funds, pension trust funds and debt service
funds are included in the annual budget. The level of budgetary control (that is, the level at which expenditures cannot legally
exceed the appropriated amount) is established by major expenditure classification within funds. The Mayor and Common Council
may transfer appropriations from one major expenditure classification to another within a department by ordinance if the total
appropriations for that fund are not exceeded. Additional appropriations in excess of the original budget must be approved by the
Mayor and Common Council and are also submitted to the DLGF for either approval or acknowledgement (depending on the
fund). Additional appropriations for funds approved by the Redevelopment Commission do not require DLGF approval. The
deadline for adoption of the annual budget is November 1. The city’s fiscal year begins on January 1.
The City maintains an encumbrance accounting system as one technique of accomplishing budgetary control. Encumbered
amounts do not lapse at year end and are carried over to the following year as a part of the subsequent year’s budget.
Property Tax Controls
In addition to budgetary and other controls established by Indiana law, the City must operate within specific and rigid controls
governing the amount of property tax it may levy. The property tax control program, which began in 1973, limits the amount of
property tax that may be levied by each unit of government in its legally budgeted funds. The total amount of property tax levied
by the unit may increase by the six-year average annual growth in Indiana personal non-farm income, as calculated by the U.S.
Bureau of Economic Analysis, with a 6% maximum.
During March 2008, the State of Indiana General Assembly enacted property tax reform legislation which made significant changes
in the property tax system by capping the amount of property taxes at 1% of grossed assessed value for residential homesteads,
2% for agricultural/rental properties and 3% for all other real and personal property. This legislation was phased in over a two-
year period beginning in 2009. The loss of revenue to the City due to this legislation was significant (estimated to be over $40
million dollars per year) but this revenue loss has been offset by cost savings and the adoption of local option income taxes to
continue providing essential City services, including police and fire protection.
A historical view of the City’s tax rate and its net assessed valuation has been included in the statistical section of this document.
Mayoral Leadership
Mayor James Mueller is the chief executive of the City of South Bend. The city’s thirty-third mayor, he was sworn into office on
January 1, 2020. As mayor, Mueller is responsible for the city workforce of over 1,000 employees and an annual budget over $380
million.
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After attending St. Joseph’s High School, the University of Notre Dame, and the University of Delaware for his PhD, Mayor
Mueller worked in public policy, promoting pragmatic public policies and affordable energy solutions at the George Washington
University’s Solar Institute in Washington, DC. He also served in the office of US Senator Maria Cantwell (D-WA), for nearly four
years, first as a John A. Knauss Legislative Fellow and then as a policy adviser on energy and natural resources.
In 2015, Mayor Mueller returned home to join the Buttigieg administration as Mayor Pete Buttigieg’s Chief of Staff. Mueller’s
tenure as Chief of Staff included the establishment of the first Diversity and Inclusion Office in Indiana, as well as the creation of
the Departments of Innovation & Technology and the Venues Parks and Arts Department. Mueller went on to become the
Executive Director of Community Investment where he was responsible for attracting businesses to South Bend and investing in
the neighborhoods. Early in his tenure as Executive Director of Community Investment, Mueller established the Engagement &
Economic Empowerment Division to empower residents with access to economic opportunities and meaningful civic
participation.
Mayor Mueller’s priorities include:
Strengthening education from cradle to career to set up every child for success
Reforming our public safety systems to make us all safer
Promoting shared growth and an economy that works for everyone
Rebuilding our neighborhoods block by block
Awards
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement
for Excellence in Financial Reporting to the City of South Bend for its annual comprehensive financial report for the fiscal year
ended December 31, 2020. This was the 31st consecutive year that the City has achieved this prestigious award. In order to be
awarded a Certificate of Achievement for Excellence in Financial Reporting, a government unit must publish an easily readable
and efficiently organized Annual Comprehensive Financial Report. This report must satisfy both generally accepted accounting
principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial
report continues to meet the Certificate of Achievement Program’s requirements, and we are submitting it to the GFOA to
determine its eligibility for another certificate.
Acknowledgments
The preparation of the Annual Comprehensive Financial Report (ACFR) was made possible by the dedicated service of the City’s
departmental directors of finance and the staff of the Department of Administration and Finance. Each Director of Department
Finance and member of the Department has our sincere appreciation for the contributions made in the preparation of this report.
We would especially like to acknowledge the efforts of the core ACFR preparation team of Ben Dougherty, Amy Shirk, and
Maricela Juarez. In addition, we would like to thank the audit staff at FORVIS, LLP (led by Andy Rinzel and Emily Tursi) for
their hard work and dedication in this effort.
In closing, without the leadership and support of Mayor James Mueller, City Department Heads, Directors of Department Finance
and members of the City of South Bend Common Council, preparation of this report would not have been possible.
Sincerely,
Daniel T. Parker
City Controller
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of South Bend
Indiana
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
December 31, 2020
Executive Director/CEO
7
CITY ORGANIZATIONAL CHART (1) Board Members include Mayoral Appointments (2) Board Members include Mayoral and Council Appointments for Redevelopment Commission, Mayoral Appointment for Redevelopment Authority (3) Board Members include 5 mayoral appointees and 4 council appointees Effective: January 1, 2021 Residents of South BendCommon CouncilMayorAdministration & Finance (City Controller)Accounting & BudgetCentral ServicesFinanceHuman ResourcesPurchasingTreasuryDiversity & Inclusion (Diversity & Inclusion Officer)Diversity & Inclusion OfficeHuman Rights CommissionLegal Department (Corporation Counsel)Board & Department SupportOrdinancesLitigationPublic Works (Director)Board of Public Works 1EngineeringSolid WasteStreets & SewersWater Works & Wastewater UtilityInnovation & Technology (Chief Innovation Officer)ServicesInfrastructureApplicationsBusiness Analytics311 Call CenterPolice Department (Chief)Board of Public Safety 1OperationsPatrolSupportFire Department (Chief)Board of Public Safety 1OperationsServicesTrainingFire PreventionEMSCommunity Investment (Executive Director)Redevelopment Commission 2/ Redevelopment Authority 2Business DevelopmentEngagement & Economic ResourcesPlanningNeighborhoods Neighborhood DevelopmentNeighborhood Code Enforcement / NEAT CrewAnimal Resource CenterBuilding Inspections & PermittingSustainabilityVenues, Parks & Arts (Executive Director)Board of Park Commissioners 1Park MaintenanceRecreationCivic Center Board of Managers 3Century CenterMorris Performing Arts Center & Palais RoyaleCity Clerk8
CITY OFFICIALS
Office Official Term
Mayor James Mueller 01/01/2020 to 12/31/2023
Controller Daniel Parker 12/10/2018 to 12/31/2023
City Clerk Dawn M. Jones 08/15/2019 to 12/31/2023
President of the Board of Public Works Elizabeth Maradik 01/01/2021 to 12/31/2021
Common Council Members
1st District Canneth Lee 07/01/2020 to 12/31/2023
2nd District Henry Davis, Jr. 01/01/2020 to 12/31/2023
3rd District Sharon McBride 02/24/2018 to 12/31/2023
4th District Troy Warner 01/01/2020 to 12/31/2023
5th District Eli Wax 11/29/2020 to 12/31/2023
6th District Sheila Niezgodski 01/01/2020 to 12/31/2023
At Large Karen L. White 01/01/2016 to 12/31/2023
At Large Lori K. Hamann 01/01/2020 to 12/31/2023
At Large Rachel Tomas Morgan 01/01/2020 to 12/31/2023
9
Independent Auditor’s Report
Audit Committee
City of South Bend, Indiana
South Bend, Indiana
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, the business-type activities, the
discretely presented component unit, each major fund, and the aggregate remaining fund information of
the City of South Bend, Indiana (City), as of and for the year ended December 31, 2021, and the related
notes to the financial statements, which collectively comprise the City’s basic financial statements as
listed in the table of contents.
In our opinion, based on our audit and the report of other auditors, the accompanying financial statements
referred to above present fairly, in all material respects, the respective financial position of the
governmental activities, the business-type activities, the discretely presented component unit, each major
fund, and the aggregate remaining fund information of the City of South Bend, Indiana, as of
December 31, 2021, and the respective changes in financial position, and, where applicable, cash flows
thereof for the year then ended in accordance with accounting principles generally accepted in the United
States of America.
We did not audit the financial statements of South Bend Public Transportation Corporation, the discretely
presented component unit of the City. Those statements were audited by other auditors whose report
has been furnished to us, and our opinion, insofar as it relates to the amounts included for the South
Bend Public Transportation Corporation as the sole discretely presented component units, is based solely
on the report of the other auditors.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS). Our responsibilities under those standards are further described in the “Auditor’s
Responsibilities for the Audit of the Financial Statements” section of our report. We are required to be
independent of the City, and to meet our other ethical responsibilities, in accordance with the relevant
ethical requirements relating to our audit. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
10
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a
going concern for 12 months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a
material misstatement when it exists. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control. Misstatements are considered material
if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment
made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such
procedures include examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is
expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the City’s ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters,
the planned scope and timing of the audit, significant audit findings, and certain internal control-related
matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, budgetary comparison, pension, and postemployment benefit information as
listed in the table of contents be presented to supplement the basic financial statements. Such
information is the responsibility of management and, although not a part of the basic financial statements,
is required by the Governmental Accounting Standards Board who considers it to be an essential part of
financial reporting for placing the basic financial statements in an appropriate operational, economic, or
historical context. We have applied certain limited procedures to the required supplementary information
in accordance with auditing standards generally accepted in the United States of America, which
consisted of inquiries of management about the methods of preparing the information and comparing the
information for consistency with management’s responses to our inquiries, the basic financial statements,
and other knowledge we obtained during our audit of the basic financial statements. We do not express
an opinion or provide any assurance on the information because the limited procedures do not provide us
with sufficient evidence to express an opinion or provide any assurance.
11
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City's basic financial statements. The combining and individual fund statements and
schedules are presented for purposes of additional analysis and are not a required part of the basic
financial statements. Such information is the responsibility of management and was derived from and
relates directly to the underlying accounting and other records used to prepare the basic financial
statements. The information has been subjected to the auditing procedures applied in the audit of the
basic financial statements and certain additional procedures, including comparing and reconciling such
information directly to the underlying accounting and other records used to prepare the basic financial
statements or to the basic financial statements themselves, and other additional procedures in
accordance with auditing standards generally accepted in the United States of America. In our opinion,
the combining and individual fund statements and schedules is fairly stated, in all material respects, in
relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual comprehensive financial
report. The other information comprises the introductory and statistical sections but does not include the
basic financial statements and our auditor's report thereon. Our opinions on the basic financial
statements do not cover the other information, and we do not express an opinion or any form of
assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other
information and consider whether a material inconsistency exists between the other information and the
basic financial statements, or the other information otherwise appears to be materially misstated. If,
based on the work performed, we conclude that an uncorrected material misstatement of the other
information exists, we are required to describe it in our report.
Indianapolis, Indiana
June 29, 2022
12
Management’s Discussion and Analysis
13
City of South Bend, Indiana
Management’s Discussion and Analysis
December 31, 2021
The management of the City of South Bend, Indiana (the “City”) is pleased to present this Management’s
Discussion and Analysis (MD&A) of the financial activities and condition of the City of South Bend, Indiana
for the fiscal year ended December 31, 2021.
Readers should note that the information contained within this Management’s Discussion and Analysis, and
any opinion derived therein, should be considered as a part of the greater whole of the financial statements,
notes to the financial statements, supplemental information and letter of transmittal, as contained within this
Annual Comprehensive Financial Report.
The City of South Bend is the county seat of St. Joseph County, Indiana, and is the fourth largest city in the
state of Indiana. St. Joseph County is located within the heartland of the manufacturing and metropolitan
regions of the Upper Midwest. The City of South Bend is located in the north central region of the state of
Indiana, five (5) miles south of the Indiana / Michigan state boundary line. The City is approximately ninety
(90) miles east of the city of Chicago and one hundred forty (140) miles north of the city of Indianapolis.
The 2020 U.S. Bureau of the Census population for the City of South Bend was reported as 103,453 and
the 2020 Census population for St. Joseph County was reported as 272,912. Accordingly, South Bend is
classified as a “Second Class City” under State of Indiana statutes, defined as cities with a population
between 35,000 and 600,000 residents.
The City of South Bend and St. Joseph County is a vibrant and diverse area with a strong local economy
based on a mix of agricultural, manufacturing and service, higher education, health care and other
commercial and tourism-based industries. The diverse economic mix creates varied employment
opportunities for residents while providing insulation from economic downturns through diversification.
South Bend is home to the University of Notre Dame.
The City of South Bend provides a full range of general governmental services to its residents. Services
include general government, public safety, street construction and maintenance, infrastructure construction
and maintenance, parks and recreation services, arts and culture, and sanitation services. In addition, the
City provides Water Utility, Wastewater Utility and Solid Waste services to commercial and residential
properties within the City. City operations also include the Century Center convention venue, Morris
Performing Arts Center, Palais Royale Ballroom, Studebaker National Museum, and Public Parking
Garages within the City footprint.
The City of South Bend governmental structure includes elected officials as follows with defined
management and legislative authority in compliance with Indiana law.
Mayor Chief Executive Officer 4-year term
Common Council 9 member legislative body 4-year term
6 from defined districts within the City
3 at-large members
City Clerk Secretary of the Common Council 4-year term
The current terms of office for Common Council members, Mayor and City Clerk expire on December 31,
2023.
The City of South Bend was incorporated in 1865, is compliant with Indiana statutes, and remains as such
through the period covered by this Management’s Discussion and Analysis report.
14
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Financial Highlights
Government-wide net position was $444,068,555 as of December 31, 2021.
Government-wide net position increased by $59,500,045 or 15.5% during fiscal year 2021.
Governmental activity net position increased by $43,450,498 or 25.3% and business-type activity
net position increased by $16,049,547 or 7.5% during fiscal year 2021. The increase in
governmental activity net position is primarily driven by three factors:
o First, the City’s net pension liability decreased by over $26 million, primarily as the result
of revised actuarial assumptions regarding the future liability of the city’s pension plans.
Additionally, the City saw the re-establishment of a net pension asset of over $19 million
related to the 1977 Police Officers’ and Firefighters Pension Fund.
o Both property tax and income tax revenues were stronger than anticipated, with the income
tax funds posting and increase in fund balance of more than $8 million (on a modified
accrual basis).
o Expenses were down, particularly personnel expenses, stemming from the ongoing
difficulties in hiring and retaining qualified personnel. This was especially significant in
public safety, where personnel expenses decreased significantly from 2020 to 2021.
Total assets and deferred outflows of resources as of December 31, 2021 of $1,029,758,702
increased by $172,131,105 or 20.07 % as compared to total assets and deferred outflows of
resources as of December 31, 2020. The increase is primarily attributable to three factors:
o In 2021, the City changed reporting presentation such that the City now recognizes a
receivable (and a corresponding deferred inflow of resources) for property taxes levied
before the end of the fiscal year. This resulted in the recognition of a property tax receivable
of $87,600,927, which was not present in the 2020 financial statements. For more
information, see Note 20 in the Notes to the Financial Statements.
o Due in part to the historic influx of cash stemming from the partial implementation of the
American Rescue Plan Act (“ARPA”), the City’s cash and investment balances as of
December 31, 2021 grew by $59,625,197, or 23%, compared to December 31, 2020.
o Additionally, the City saw the re-establishment of a net pension asset of $19,193,872
related to the 1977 Police Officers’ and Firefighters Pension Fund, which was not present
in the 2020 financial statements.
Governmental Activities Business-type Activities Government-wide Discrete Component Unit
2021 2020 2021 2020 2021 2020 2021 2020
Assets/deferred
outflows $722,137,844 $557,165,642 $307,620,858 $300,461,955 $1,029,758,702 $857,627,597 $39,673,466 $31,928,256
Liabilities/deferred
inflows 506,962,388 385,440,684 78,727,759 87,618,403 585,690,147 473,059,087 5,443,614 2,735,998
Net Position
Net investment in
capital assets 133,711,581 128,432,152 165,916,250 158,425,568 299,627,831 286,857,720 31,637,517 28,508,842
Restricted 30,180,859 11,810,879 42,713,237 42,169,068 72,894,096 53,979,947 - -
Unrestricted 51,283,016 31,481,927 20,263,612 12,248,916 71,546,628 43,730,843 2,592,335 683,416
Total Net Position $215,175,456 $171,724,958 $228,893,099 $212,843,552 $444,068,555 $384,568,510 $34,229,852 $29,192,258
Change vs. prior
year $43,450,498 $15,784,253 $16,049,547 $7,424,114 $59,500,045 $23,208,367 $5,037,594 $(193,397)
Expenses 153,053,931 175,327,161 58,793,603 66,465,554 211,847,534 241,792,715 13,279,726 12,905,984
Revenues 196,504,429 191,111,414 74,843,150 73,889,668 271,347,579 265,001,082 18,317,320 12,712,587
15
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Total liabilities and deferred inflows of resources as of December 31, 2021 of $585,690,147
increased by $112,631,060 or 23.8% as compared to total liabilities and deferred inflows of
resources as of December 31, 2020. This increase was driven primarily by the establishment of a
deferred inflow of resources related to property taxes receivable (as discussed above) and the
establishment of an unearned revenue of $29,549,185 related to unspent ARPA funds (as also
discussed above). In addition, deferred inflows of resources related to pension plans increased by
$35,000,435 from 2020 to 2021, more than offsetting a decrease in net pension liability of
$26,624,915.
As of December 31, 2021, the government-wide net position of $444,068,555 has $299,627,831
invested in capital assets (net of debt) which is not available for spending, $72,894,096 classified
as restricted for debt service; capital outlays; and other uses; and $71,546,628 classified as
unrestricted.
Government-wide revenues received in fiscal 2021 totaled $271,347,579, an increase of
$6,346,497 or 2.4% compared to government-wide revenues received in fiscal 2020. Governmental
activity revenues increased by $5,393,015 or 2.8%, and business-type activity revenue increased
by $953,482, or 1.3%. These changes were due primarily to higher-than-expected property tax
and income tax revenues.
Government-wide expenses in 2021 totaled $211,847,534, a decrease of $29,945,181 (12.3%)
compared to expenses in 2020. Governmental activity expenses decreased by $22,273,230 or
12.7%, while business-type activity expenses decreased by $7,671,951 or 11.5% compared to
fiscal 2019. The decrease in expenses in both governmental activities and business-type activities
is due in large part to extraordinarily low pension expense in 2021, combined with lower-than-
expected personnel expenses due to open positions.
The financial statements contain information for a single discrete component unit, the South Bend
Public Transportation Corporation (Transpo).
Explanatory commentary concerning the changes in assets, liabilities, revenues, and expenditures
can be found in later sections of this MD&A.
Overview of the Financial Statements
The City of South Bend’s financial statements are comprised of three components: (1) government-wide
financial statements, (2) fund financial statements, and (3) notes to the financial statements. This report
also includes other supplementary information in addition to the basic financial statements themselves.
Government-wide Financial Statements
The government-wide financial statements are designed to provide readers with a broad overview of the
City of South Bend’s finances using “accrual-based accounting,” a method of accounting used by private
sector businesses.
Statement of Net Position
This statement reports all assets, deferred outflows of resources, liabilities, and deferred inflows of
resources of the City of South Bend as of December 31, 2021. The difference between total assets and
deferred outflows of resources less total liabilities and deferred inflows of resources is reported as “net
16
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
position,” and can generally be thought of as the net worth of the City. Increases in net position generally
indicate an improvement in financial position while decreases in net position may indicate a deterioration
of financial position.
Statement of Activities
This statement serves the purpose of the traditional income statement. It provides consolidated reporting
of the results of all activities of the City of South Bend for the year ended December 31, 2021. Changes in
net position are recorded in the period in which the underlying event takes place, which may differ from the
period in which cash is received or disbursed. The statement of activities displays the expense of the City’s
various programs net of the related revenues, as well as a separate presentation of revenue available for
general purposes including property and local income taxes, fees for services and other revenue sources.
The government-wide financial statements distinguish between functions of the City that are principally
supported by taxes and intergovernmental revenue (governmental activities) and other functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-type
activities). The major governmental activities of the City of South Bend include general government, public
safety, street construction and maintenance, infrastructure construction and maintenance, parks and
recreation services, and arts and culture. The major business-type activities of the City include the water
utility, wastewater utility, solid waste sanitation services, Century Center convention center, building
department, and the downtown parking garages.
Component units are included in our basic financial statements, in accordance with GASB Statement 61.
These units are legally separate entities for which the City is financially accountable. Component units are
presented as either discrete or blended, depending on the level of oversight exercised and the relationship
between the City and the external entity. Blended component units include the South Bend Redevelopment
Authority, the City of South Bend Building Corporation, the Urban Enterprise Association of South Bend,
and the VPA Foundation. These entities are set up to exclusively benefit or provide services to the City,
and the management team of the City has operational responsibility for these entities. Accordingly, the
financial information for these entities is blended into the primary government in these statements.
In contrast, the City has included the South Bend Public Transportation Corporation (Transpo) as a discrete
component unit. Although the City does not have operational responsibility for Transpo, and no financial
benefit or burden accrues to the City due to Transpo’s operations, Transpo is nonetheless fiscally
dependent on the City. This dependency exists because the South Bend Common Council has the authority
to approve and modify Transpo’s budget and levy taxes on behalf of Transpo. More information on the
City’s component units can be found in Note 1 to the Financial Statements.
Fund Financial Statements
A fund is a group of related accounts that is used to maintain control over resources that have been
segregated for specific activities or objectives. The City, like other state and local governments, uses fund
accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds
of the City of South Bend can be divided into three categories: governmental funds, proprietary funds and
fiduciary funds. Each fund has its own cash balance which must be maintained according to the City’s cash
reserve policy.
Governmental Funds
Governmental funds are used to account for the same functions reported as governmental activities in the
government-wide financial statements. However, unlike government-wide financial statements,
governmental fund financial statements focus on short-term inflows and outflows of spendable resources,
as well as on balances of spendable resources available at the end of the fiscal year. Such information may
17
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
be useful in evaluating a government's short-term financing requirements. Governmental funds use the
modified accrual accounting method.
The City maintains seven (7) major governmental funds (General, Parks and Recreation, Local Income Tax
Public Safety, Local Income Tax Certified Shares, Local Income Tax Economic Development, American
Rescue Plan, and River West TIF) and seventy-two (72) nonmajor governmental funds.
Proprietary Funds
The City of South Bend maintains two types of proprietary funds: enterprise and internal service.
Enterprise funds are used to report the same functions presented as business-type activities in
the government-wide financial statements.
The City maintains eight (8) enterprise funds. Information is presented separately in the proprietary
statement of net position and the proprietary statement of revenues, expenses and changes in fund
net position for the Water utility and Wastewater utility, which are considered major enterprise
funds. Data from the other six (6) nonmajor enterprise funds (Century Center, Consolidated
Building Department, Parking Garage, Solid Waste, Emergency Medical Services, and Morris
Performing Arts Center) are combined into a single, aggregated presentation.
Individual fund data for each of these nonmajor enterprise funds is provided in the form of
combining statements elsewhere in this report.
Internal service funds are used to accumulate and allocate costs internally among the City's
various functions and funds. The City maintains seven (7) internal service funds. The City of South
Bend uses internal service funds to account for its self-funded liability insurance program, self-
funded employee health benefits program, unemployment compensation claims, police take-home
vehicle program, Innovation & Technology and 311 call center, parental leave benefit for City
employees, and Central Services unit (a division that accounts for expenses related to fuel, vehicle
repairs, facilities management, and other services provided to City departments on a cost-
reimbursement basis).
Because these services predominantly benefit governmental rather than business-type functions,
they have been included within governmental activities in the government-wide financial statements
but are combined into a single, aggregated presentation in the proprietary fund financial
statements. Individual fund data for the internal service funds is provided in the form of combining
statements elsewhere in the report.
Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the City government.
Fiduciary funds are not reflected in the government-wide financial statements because the resources of
those funds are not available to support City programs. The City maintains three (3) fiduciary funds, which
consist of two (2) pension trust funds (1925 Police Officers’ Pension and 1937 Firefighters’ Pension), and
one custodial fund (Police Distributions Payable).
Pension Trust Fund Operations
The vast majority of City employees are covered by the Public Employees Retirement Fund (PERF) and
the 1977 Police Officers' and Firefighters' Pension Fund, both of which are administered by the State of
Indiana.
18
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
However, certain police officers and firefighters hired before May 1, 1977 (who did not opt into the 1977
fund) continue to be members of the 1925 Police Officers’ Pension Fund or the 1937 Firefighters' Pension
Fund. These two funds are administered by the City. The number of police officers and firefighters in the
City-managed pension trust funds will continue to decline in the future as current participants pass away.
The State makes certain contributions toward the funding of the 1925 Police Officers’ and 1937 Firefighters’
pension plans. See Note 18 and the items in the Required Supplementary Information section for more
information.
Notes to the Financial Statements
The notes to the financial statements provide additional information that is essential in order to have a full
understanding of the data provided in the government-wide and fund financial statements. These notes
should be considered to be a part of the overall financial statements.
Other Information
In addition to the basic financial statements and accompanying notes and disclosures, this ACFR presents
supplementary information (“Required Supplementary Information” or “RSI”) immediately following the
basic financial statements.
Other supplementary information is found in the Statistical Section. The combining statements referred to
earlier in connection with nonmajor governmental, nonmajor enterprise, internal service and fiduciary funds
are presented immediately after the Required Supplementary Information within the financial statement
section of the ACFR.
Government-wide Financial Statements
The following financial analysis will focus on the statement of net position and statement of changes in net
position of the City’s governmental and business-type activities.
Statement of Net Position
Governmental Activities Business-type Activities Government-wide Discrete Component Unit
2021 2020 2021 2020 2021 2020 2021 2020
Assets
Current and other $421,248,319 $256,626,088 $77,896,068 $69,809,178 $499,144,387 $326,435,266 $7,619,024 $2,999,487
Capital assets (net) 271,511,509 278,777,630 226,179,303 227,419,851 497,690,812 506,197,481 31,667,892 28,512,277
Total Assets 692,759,828 535,403,718 304,075,371 297,229,029 996,835,199 832,632,747 39,286,916 31,511,764
Deferred Outflows 29,378,016 21,761,924 3,545,487 3,232,926 32,923,503 24,994,850 386,550 416,492
Liabilities
Current 40,897,978 11,854,270 5,330,045 4,684,985 46,228,023 16,539,255 366,888 484,814
Long-term 328,951,678 357,647,078 67,552,435 79,497,133 396,504,113 437,144,211 171,734 700,019
Total Liabilities 369,849,656 369,501,348 72,882,480 84,182,118 442,732,136 453,683,466 538,622 1,184,833
Deferred Inflows 137,112,732 15,939,336 5,845,279 3,436,285 142,958,011 19,375,621 4,904,992 1,551,165
Net Position
Net investment
in capital assets 133,711,581 128,432,152 165,916,250 158,425,568 299,627,831 286,857,720 31,637,517 28,508,842
Restricted 30,180,859 11,810,879 42,713,237 42,169,068 72,894,096 53,979,947 - -
Unrestricted 51,283,016 31,481,927 20,263,612 12,248,916 71,546,628 43,730,843 2,592,335 683,416
Total Net Position $215,175,456 $171,724,958 $228,893,099 $212,843,552 $444,068,555 $384,568,510 $34,229,852 $29,192,258
As of December 31, 2021, total assets and deferred outflows exceeded liabilities and deferred
inflows by $444,068,555, an increase of $59,500,045, or 15.5%, from the net position level as of
December 31, 2020.
19
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Governmental activities net position of $215,175,456 increased by $43,450,498, or 25.3%, from
December 31, 2020
Business-type net position of $228,893,099 increased by $16,049,547, or 7.5%, from
December 31, 2020.
Government-wide assets and deferred outflows of resources as of December 31, 2021 of
$1,029,758,702 increased by $172,131,105 or 20.1% as compared to total assets and deferred
outflows of resources as of December 31, 2020. This increase was primarily attributable to a
change in reporting of property taxes receivable and an historic influx of cash stemming in part from
the partial implementation of the American Rescue Plan Act.
Government-wide liabilities and deferred inflows of resources as of December 31, 2021 of
$585,960,147 increased by $112,631,060 or 23.8% as compared to total liabilities and deferred
inflows of resources as of December 31, 2020. This decrease was driven primarily by an increase
in deferred inflows of resources related to property taxes receivable and pensions, as well as by a
large increase in unearned revenue stemming from the unspent proceeds from the American
Rescue Plan Act.
Statement of Activities
Governmental Activities Business-type Activities Government-wide Discrete Component Unit
2021 2020 2021 2020 2021 2020 2021 2020
Revenues
Program revenues
Charges for services $13,124,512 $11,839,297 $73,058,116 $70,180,688 $86,182,628 $82,019,985 $1,153,798 $1,049,261
Operating grants 20,180,108 20,139,125 - - 20,180,108 20,139,125 6,875,996 6,846,087
Capital grants 3,742,319 949,034 743,450 2,142,194 4,485,769 3,091,228 6,085,789 829,684
General revenues
Property tax 87,866,397 80,188,143 - - 87,866,397 80,188,143 4,198,981 3,979,559
Other tax 36,341,152 37,500,874 1,037,500 956,250 37,378,652 38,457,124 - -
State-shared revenue 13,357,839 12,242,415 - - 13,357,839 12,242,415 - -
Investment earnings (52,191) 2,152,868 4,084 639,006 (48,107) 2,791,874 2,127 7,996
Other revenue 19,107,047 17,998,244 - (28,470) 19,107,047 17,969,774 629 -
Total revenues 193,667,183 183,010,000 74,843,150 73,889,668 268,510,333 256,899,668 18,317,320 12,712,587
Expenses
General government 13,099,391 15,594,628 - - 13,099,391 15,594,628 - -
Public safety 66,584,412 71,038,475 - - 66,584,412 71,038,475 - -
Highways & streets 29,402,967 30,954,585 - - 29,402,967 30,954,585 - -
Economic development 18,151,702 33,591,809 - - 18,151,702 33,591,809 - -
Culture & recreation 20,298,172 18,219,658 - - 20,298,172 18,219,658 - -
Interest on long-term debt 5,517,287 5,928,006 - - 5,517,287 5,928,006 - -
Water utility - - 14,387,728 15,426,501 14,387,728 15,426,501 - -
Wastewater utility - - 29,248,157 30,400,218 29,248,157 30,400,218 - -
Century center - - 3,826,100 3,513,761 3,826,100 3,513,761 - -
Building department - - 1,346,344 1,500,424 1,346,344 1,500,424 - -
Parking - - 966,418 1,262,908 966,418 1,262,908 - -
Solid waste - - 6,133,675 6,169,271 6,133,675 6,169,271 - -
Emergency medical svcs - - 2,017 91,057 2,017 91,057 - -
Morris Performing Arts Ctr - - 45,918 45,918 - -
Public transportation - - - - - - 13,279,726 12,905,984
Total expenses 153,053,931 175,327,161 55,956,357 58,364,140 209,010,288 233,691,301 13,279,726 12,905,984
Change in Net Position
Before transfers 40,613,252 7,682,839 18,886,793 15,525,528 59,500,045 23,208,367 5,037,594 (193,397)
Transfers 2,837,246 8,101,414 (2,837,246) (8,101,414) - - - -
Change in Net Position 43,450,498 15,784,253 16,049,547 7,424,114 59,500,045 23,208,367 5,037,594 (193,397)
Beginning Net Position 171,724,958 155,940,705 212,843,552 205,419,438 384,568,510 361,360,143 29,192,258 29,385,655
Ending Net Position $215,175,456 $171,724,958 $228,893,099 $212,843,552 $444,068,555 $384,568,510 $34,229,852 $29,192,258
20
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Governmental Activities
Net position for governmental activities increased by $43,450,498 during fiscal 2021, an increase of 25.3%
from the balance of net position as of December 31, 2020. Governmental activity revenue (including
transfers) increased by $10,657,183 or 5.8%, while governmental activity expenses decreased by
$22,273,230 or 12.7%.
The governmental activities revenue increases were due primarily to stronger-than-expected property tax
revenue in 2021.
Governmental activities expenses decreased significantly in 2021, due primarily to low pension expense in
2021 (based on actuarial changes to the city’s net pension liability) and lower-than-expected personnel
expenses, particularly in public safety positions.
Business-type Activities
Net position from business-type activities increased by $16,049,547 (7.5%) from the balance of net position
at December 31, 2020. During 2021, business-type activities revenue of $74,843,150 increased by
$953,482 or 1.3%, over fiscal 2020. During 2021, business-type activities expenses of $55,956,357
decreased by $2,407,783 or 4.1% compared to fiscal 2020.
These changes are due primarily to the normal fluctuations in operations from year-to-year. The decrease
in expenses is largely due to low pension expense in 2021 (based on actuarial changes to the city’s net
pension liability).
Component Unit
Net position for the South Bend Public Transportation Corporation increased by $5,037,594 (17.3%) from
the balance of net position at December 31, 2020.
Financial Analysis of Governmental Funds
The City of South Bend uses fund accounting to ensure and demonstrate compliance with finance related
legal requirements.
Funds of the City are divided into three categories:
Governmental funds,
Proprietary funds, and
Fiduciary funds.
The following balance sheet presents a consolidated look at the City’s governmental funds, which account
for all activities that provide general governmental services that are not business-type activities. This
includes the General Fund, special revenue funds, debt service funds, and capital project funds.
These funds are accounted for on the modified accrual basis of accounting.
21
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Condensed Balance Sheet,
Statement of Revenue, Expenditures, and Changes in Fund Balance
As of and for the Year Ended December 31, 2021
General Fund
Parks and
Recreation
Local Income
Tax –
Public Safety
Local Income
Tax –
Cert. Shares
Local Income
Tax –
Econ. Dev.
American
Rescue Plan
River West
TIF
Nonmajor
Funds Total
Total assets $110,132,038 $16,154,114 $3,975,731 $19,123,809 $25,154,094 $29,463,273 $57,829,064 $117,440,456 $379,272,579
Total liabilities and deferred
inflows of resources 46,730,407 10,850,764 628,856 984,065 497,716 29,455,024 18,302,408 21,431,657 128,880,897
Fund Balances
Nonspendable - 13,554 - 531,253 270,001 - 5,722,536 4,366,369 10,903,713
Restricted - 5,289,796 3,346,875 - - 8,249 33,804,120 82,947,523 125,396,563
Committed - - - - - - - 8,053,213 8,053,213
Assigned - - - 17,608,491 24,386,377 - - 668,327 42,663,195
Unassigned 63,401,631 - - - - - - (26,633) 63,374,998
Total fund balances 63,401,631 5,303,350 3,346,875 18,139,744 24,656,378 8,249 39,526,656 96,008,799 250,391,682
Total liabilities and deferred
inflows of resources and
fund balances 110,132,038 16,154,114 3,975,731 19,123,809 25,154,094 29,463,273 57,829,064 117,440,456 379,272,579
Revenues 77,938,724 15,325,643 9,393,490 13,461,284 13,160,802 8,249 19,358,497 44,796,424 193,443,113
Expenditures 80,379,187 15,022,558 9,845,124 5,734,101 5,299,841 - 10,406,269 55,145,129 181,832,209
Excess of revenue (under)
over expenditures (2,440,463) 303,085 (451,634) 7,727,183 7,860,961 8,249 8,952,228 (10,348,705) 11,610,904
Other sources (uses) 3,933,306 1,249,791 - (4,424,790) (2,468,986) - (4,430,493) 20,902,770 14,761,598
Net Change in Fund
Balances 1,492,843 1,552,876 (451,634) 3,302,393 5,391,975 8,249 4,521,735 10,554,065 26,372,502
Beginning Fund Balance 61,908,788 3,750,474 3,798,509 14,837,351 19,264,403 - 35,004,921 85,454,734 224,019,180
Ending Fund Balance 63,401,631 5,303,350 3,346,875 18,139,744 24,656,378 8,249 39,526,656 96,008,799 250,391,682
As of December 31, 2021, the City governmental funds reported a combined ending fund balance of
$250,391,682. This fund balance is comprised of the following components:
The nonspendable fund balance of $10,903,713 is sequestered for inventory, prepaids, the long-
term portions of notes/loans receivable, and property held for resale, and is, therefore, not available
for new spending.
The restricted fund balance of $125,396,563 consists of monies in debt service funds or other funds
such as road and tax increment financing funds that are limited by external parties as to their use.
The committed fund balance of $8,053,213 is designated by the South Bend Common Council or
South Bend Redevelopment Commission to be used for certain purposes such as for economic
development projects.
The assigned fund balance of $42,663,195 includes balances in local option income tax funds that
have not been committed to certain projects and are available for spending by the City.
The remaining unassigned fund balance of $63,374,998 consists of money in the General Fund
that has not been obligated in any manner by the City.
The General Fund is the primary operating fund for City operations including general government, public
safety, certain culture and recreation expenses, and certain debt service obligations.
As of December 31, 2021, the General Fund balance of $63,401,631 represents an increase of $1,492,843,
or 2.4% from the balance as of December 31, 2020. The increase was due primarily to higher property tax
revenue during 2021 than expected and lower spending for public safety and administration than
anticipated.
22
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
As of December 31, 2021, the General Fund had an unassigned fund balance of $63,401,631, which is
equal to 78.9% of 2021 General Fund expenditures.
The General Fund unassigned fund balance has traditionally been used by the City to fund certain capital
projects and emergency contingencies. In addition, the City used the unassigned fund balance in 2021 as
a cash flow bridge to the receipt of property tax revenues from the County collection authority which
distributes property tax revenue twice per year (June and December). The General Fund unassigned
balance provided sufficient cash to cover City operating obligations without incurring tax anticipation notes
and resultant borrowing costs during fiscal 2021.
As discussed in Governmental Accounting, Auditing, and Financial Reporting (GAAFR), a General Fund
unassigned fund balance should be either 1) no less than 5 to 15 percent of regular General Fund operating
revenues, or 2) no less than one to two months of regular General Fund operating expenditures. An
unassigned fund balance may be higher if circumstances dictate, such as a delay in collection of a major
revenue source. The City has a policy to maintain fund reserves equal to at least 50% of annual
expenditures and exceeded this target at December 31, 2021.
The Parks and Recreation Fund balance increased by $1,552,876 during 2021, due primarily to a planned
buildup of fund balance following a large spenddown in 2019. As of December 31, 2021, the fund balance
in the Parks and Recreation Fund was $5,303,350, or 35.3% of 2021 expenditures. The City has a policy
to maintain fund reserves equal to at least 25% of annual expenditures in this fund, and meets this target
as of December 31, 2021.
The Local Income Tax – Public Safety Fund was created in October 2009, with the local legislative
passage of an increase in local option income taxes of 0.95%, a part of which (0.25%) tax increase was
established to fund public safety expenditures. The City has established the Local Income Tax – Public
Safety Fund as a major governmental fund, due solely to its purpose of creating a funding source to sustain
public safety staffing levels, which were compromised by state implementation of property tax reform that
has reduced property tax revenues, which historically are the source of public safety funding. Local Income
Tax – Public Safety funds are used to cover the personnel costs of police officers and firefighters. Receipts
of Local Income Tax – Public Safety tax revenue commenced in January 2010. The decrease in fund
balance in the amount of $451,634 during 2021 was due primarily to an intentional strategy of spending
down this fund balance before expending unassigned general fund dollars. This strategy will continue and
accelerated in 2022. The ending fund balance was $3,346,875, or 34% of annual expenditures.
The Local Income Tax – Certified Shares and Local Income Tax – Economic Development funds are
used to fund major capital and construction projects, economic development initiatives, certain subsidies
and support to organizations and units that benefit City economic development and cultural venues, certain
City-wide expenditures such as major technology costs, and certain debt service payments.
The Local Income Tax – Certified Shares fund balance increased by $3,302,393 during 2021, due primarily
to an unanticipated excess income tax distribution. The City has operationally sequestered these funds for
use in major capital and construction funding initiatives, certain subsidies and support to organizations and
units that benefit city economic development and cultural venues, City-wide expenditures like telephone
service and electricity for streetlights, and certain debt service payments. As of December 31, 2021, the
Local Income Tax – Certified Shares Fund balance was $18,139,744, or 316% of 2021 expenditures and
transfers out. This level of fund reserves is significantly higher than the City policy target of 50%.
The Local Income Tax – Economic Development Fund balance increased by $5,391,975 during 2021 due
to an unanticipated excess income tax distribution and lower-than-expected transfers to other City
operational funds. The City has operationally sequestered Local Income Tax – Economic Development
funds for use in major economic development initiatives, certain subsidies and support to organizations and
23
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
units that benefit City economic development and cultural venues, operational costs of the street, code
enforcement and community investment departments and certain debt service payments. As of December
31, 2021, the Local Income Tax – Economic Development fund balance was $24,656,378, or 465% of 2021
expenditures and transfers out. The City policy target is 50%.
The American Rescue Plan Fund is used to account for the proceeds from the American Rescue Plan
Act, which was signed by President Joe Biden in 2021. As a part of this legislation, the City of South Bend
received nearly $60 million in “State and Local Fiscal Recovery Funds”. The first distribution of these funds
(equal to half the total awarded amount) was received by the City in 2021, with the second tranche to be
received in 2022. In 2021, the City did not utilize any of this funding, but has plans to do so in 2022. The
ending fund balance of this fund as of December 31, 2021 was $8,249, since these assets were almost
entirely offset by a deferred inflow of resources.
The fund balance in the River West TIF Fund increased by $4,521,735 during 2021. This change was the
result of higher-than-expected property tax receipts and longer-than-anticipated lead times on certain
capital projects financed by this capital project fund. As of December 31, 2021, the River West TIF Fund
balance was $39,526,656, entirely restricted for use in economic development projects.
During 2021, the fund balances in nonmajor governmental funds increased by $10,554,065, due primarily
to higher-than-expected property tax receipts in the other TIF funds and longer-than-anticipated lead times
on certain capital projects financed by TIF funds, as well as by an infrastructure bond that was issued in
2021 but not fully spent during the year.
The total balance in nonmajor governmental funds was $96,008,799 as of December 31, 2021. These fund
balances provide the necessary resources that the City requires to meet future capital construction needs,
ongoing debt service obligations, and economic development project initiatives in order to fuel community
growth within the City.
Individual fund data for each of the nonmajor governmental funds is provided in the form of the combining
statements immediately following the Required Supplemental Information within the Financial Section of
the ACFR.
Governmental Funds Revenue
The following schedule presents a summary of governmental fund revenues for the year ended December
31, 2021, with comparison to the prior year:
2021 Actual
% of
Total 2020 Actual
% of
Total
Tax Based
General Property $87,866,397 45.4% $80,188,143 44.0%
Local Income Tax 35,736,715 18.5% 36,897,937 20.2%
Hotel/Motel Tax 604,437 0.3% 602,937 0.3%
Total Tax 124,207,549 64.2% 117,689,017 64.5%
Non-Tax Based
Licenses & Permits 303,837 0.2% 311,100 0.2%
Intergovernmental 36,241,803 18.7% 33,326,540 18.3%
Charges for Services 13,165,015 6.8% 11,286,157 6.2%
Fines and Forfeitures 613,971 0.3% 647,214 0.4%
Interest Income (52,191) 0.0% 2,152,868 1.2%
Other 18,963,129 9.8% 16,959,591 9.3%
Total Non-Tax Based 69,235,564 35.8% 64,683,470 35.5%
Total Revenues $193,443,113 100.0% $182,372,487 100.0%
24
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Tax revenue continues to represent the most significant source of revenue required to support services
provided by the City. Property tax revenue is the primary source of funding for governmental expenditures.
Property tax revenue is based on a relationship between two variables. The first variable is the net assessed
property valuation of industrial, commercial and residential parcels for both real and personal property. The
second variable is the application of a tax rate to arrive at the total tax levy. Taxable property is assessed
at 100% of the true tax value. The amount of property tax levied (billed to property owners) is further
restricted by State of Indiana-enacted property tax legislative reform (the “circuit breaker” property tax caps)
to no more than 1.0% (homestead), 2.0% (other residential/rental) or 3.0% (commercial/industrial) of gross
assessed valuation.
Property tax revenue includes taxes collected on behalf of the following funds: General Fund, Parks and
Recreation Fund, Cumulative Capital Development Fund, Redevelopment Commission Tax Incremental
Financing (TIF) Funds, and a special levy to cover debt service for City-issued Parks bonds.
The City recognizes the need to further diversify the revenue stream and to reduce its dependency on
general property taxes to ensure that a broad base of users of City services, including nonresidents who
work in the City, share in the funding of basic City services.
As a result of the need to diversify the revenue stream, the City of South Bend Common Council, the City
of Mishawaka Common Council, and Saint Joseph County Council (together comprising the local income
tax council) have adopted a Local Income Tax rate of 1.75%. The Local Income Tax consists of four
components:
0.50% for the expenditure rate–certified shares component (formerly the County Option Income
Tax),
0.40% for the economic development component (formerly the Economic Development Income
Tax),
0.25% for the public safety component (formerly the Public Safety Local Option Income Tax), and
0.60% property tax relief component. The property tax relief component of the Local Income Tax
does not result in any direct revenue to the City, but rather reduces circuit breaker property tax
losses.
The City continues to seek diversified sources of revenue that will reduce its reliance on property and
income taxes. One viable source of revenue is from user fees and/or charges for services currently being
performed. City-performed services are priced at levels representing the full cost of service, taking into
consideration fees charged by providers of similar services. The City performs ongoing reviews of user fee
costs incurred and revises service fee prices as required.
Total tax revenue was $124,207,549 during 2021 and increased by $6,518,532, or 5.5%, from 2020.
Property tax revenue was stronger than expected during 2021, driven by rising real estate values.
Fortunately, this was sufficient to more than offset a small decrease in income tax revenue.
Total non-tax-based revenue was $69,235,564 in 2021 and increased $4,552,094, or 7.0%, from 2020.
This is due primarily due to high intergovernmental revenue.
25
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Governmental Fund Expenditures
The City accounts for government fund expenditures in eight functional categories as follows:
(1) general government,
(2) public safety,
(3) highways and streets,
(4) community and economic development,
(5) culture and recreation,
(6) bond issuance costs,
(7) debt service, and
(8) capital outlay.
The following schedule presents a summary of governmental fund expenditures for the year ended
December 31, 2021, in comparison to fiscal year 2020.
2021 Actual
% of
Total 2020 Actual
% of
Total
General Government $14,088,456 7.7% $14,890,828 7.8%
Public Safety 80,411,282 44.2% 77,145,197 40.3%
Highways and Streets 15,999,114 8.8% 18,741,789 9.8%
Community & Economic Development 12,791,198 7.0% 12,593,759 6.6%
Culture and Recreation 16,644,748 9.2% 15,993,587 8.4%
Debt Service 22,253,947 12.2% 20,889,581 10.9%
Capital Outlay 19,643,464 10.8% 31,186,219 16.3%
Total Expenditures $181,832,209 100.0% $191,440,960 100.0%
Governmental fund expenditures in fiscal 2021 of $181,832,209 decreased by $9,608,751, or 5.0%, in
comparison to governmental fund expenditures in fiscal 2020.
Capital outlay expenditures decreased by $11,542,755, or 37.0%, during 2021 due primarily to a intentional
freeze on new capital projects in the 2021 budget stemming from ongoing financial uncertainty related to
the COVID-19 pandemic. The City expects this number to increase in future years.
Public Safety expenditures continue to be the primary use of government fund resources with 44.2% of
expenditures used for this purpose in fiscal 2021. Public safety spending is followed by:
debt service expenditures (12.2%),
capital outlay expenditures (10.8%),
culture and recreation (9.2%),
highways and streets (8.8%),
general government (7.7%), and
community and economic development (7.0%).
Note: “General government” spending is comprised of the executive offices of the Mayor, Common Council,
City Clerk, Legal, Controller, Human Resources and Innovation & Technology.
26
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Proprietary funds
Condensed Statement of Net Position
Revenue, Expenses, and Changes in Fund Net Position
As of and for the Year Ended December 31, 2021
Enterprise Funds
Water Utility
Wastewater
Utility
Nonmajor
Enterprise Total
Governmental
Activities
Proprietary
Internal Service
Total assets $77,954,511 $195,723,011 $30,404,614 $304,082,136 $25,605,658
Total deferred outflows 833,536 2,139,848 572,103 3,545,487 1,012,824
Total liabilities 14,483,892 54,449,885 3,955,468 72,889,245 9,393,518
Total deferred inflows 2,387,438 2,343,339 1,114,502 5,845,279 1,973,064
Net Position
Net investment in capital assets 42,390,632 101,758,306 21,767,312 165,916,250 961,320
Restricted: -
Customer repair & deposit 1,275,408 2,900,342 - 4,175,750 -
Bond reserve 1,418,562 3,738,309 - 5,156,871 -
Operating reserve 2,903,758 5,533,851 - 8,437,609 -
Capital outlay 9,643,440 14,315,857 983,710 24,943,007 -
Unrestricted 4,284,917 12,822,970 3,155,725 20,263,612 14,290,580
Total net position 61,916,717 141,069,635 25,906,747 228,893,099 15,251,900
Operating revenues 21,475,588 41,492,806 10,086,436 73,054,830 37,725,213
Operating expenses 14,060,542 27,594,387 12,283,456 53,938,385 36,472,722
Operating income (loss) 7,415,046 13,898,419 (2,197,020) 19,116,445 1,252,491
Non-operating revenues (expenses) (317,091) (1,620,809) 964,798 (973,102) (77,879)
Income (loss) before contributions & transfers 7,097,955 12,277,610 (1,232,222) 18,143,343 1,174,612
Capital contributions 85,730 657,720 - 743,450 -
Transfers in 621,317 1,673,683 1,796,371 4,091,371 6,667
Transfers out (1,681,201) (4,543,120) (704,296) (6,928,617) (6,667)
Change in Net Position 6,123,801 10,065,893 (140,147) 16,049,547 1,174,612
Total Net Position - Beginning (restated) 55,792,916 131,003,742 26,046,894 212,843,552 14,077,288
Total Net Position - Ending $61,916,717 $141,069,635 $25,906,747 $228,893,099 $15,251,900
The City of South Bend maintains two types of proprietary funds: enterprise and internal service.
The City maintains eight (8) enterprise funds. Information is presented separately in the Proprietary
Statement of Net Position, the Proprietary Statement of Revenues and Expenditures, and Changes in Fund
Net Position for the Water Utility and Wastewater Utility, which are considered major enterprise funds. Data
from the other six (6) nonmajor enterprise funds (Century Center, Consolidated Building Department,
Parking Garage, Solid Waste, Emergency Medical Services, and Morris Performing Arts Center) are
combined into a single, aggregated presentation.
The City maintains seven (7) internal service funds. The City of South Bend uses internal service funds to
account for its self-funded liability insurance program, self-funded employee health benefits program,
unemployment compensation claims, police take-home vehicle insurance program, Innovation &
Technology and 311 call center, parental leave benefit for City employees, and central services unit (a
department that accounts for expenses related to fuel, vehicle repairs, and other services provided to City
departments on a cost-reimbursement basis). Because these services predominantly benefit governmental
rather than business-type functions, they have been included within governmental activities in the
government-wide financial statements but are combined into a single, aggregated presentation in the
27
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
proprietary fund financial statements. The internal service funds have been combined into a single,
aggregated presentation.
As of December 31, 2021, City enterprise funds reported a net position of $228,893,099, which represents
an increase of $16,049,547, or 7.5%, from the net position as of December 31, 2020.
As of December 31, 2021, enterprise fund net position includes net investment in capital assets of
$165,916,250, restricted net position of $42,713,237 and unrestricted net position of $20,263,612.
During 2021, the Water utility experienced an increase in net position of $6,123,801 and the Wastewater
utility experienced an increase in net position of $10,065,893. The Water utility experienced decreased
operating revenues of $60,702 while the Wastewater utility experienced an increase in operating revenue
of $1,849,370.
Nonmajor Enterprise Funds experienced a decrease in net position of $140,147 during 2021, which was
due primarily to a continued slowdown in services stemming from the COVID-19 pandemic. The Century
Center Fund reported a decrease in net position of $1,420,714, which was a direct result of being shut
down for a good portion of 2021 due to the pandemic. The Parking Garage Fund reported a decrease in
net position of $14,925. The Consolidated Building Fund reported an increase in net position of $172,352
during 2021. The Solid Waste Fund reported an increase in net position of $1,779,666, which was driven
exclusively by a transfer into this fund from the General Fund to help maintain services over the next several
years, while having a glidepath to higher rates. The Emergency Medical Services Fund reported a
decrease in net position of $610,608, as a result of the reclassification of EMS activities from “business-
type” to “governmental” and the associated closing of this proprietary fund in 2021. The Morris Performing
Arts Center Fund was opened with the 2022 budget, and the only activity in 2021 relates to accrued
liabilities incurred in 2021, but not paid until 2022. As such, this fund had a decrease in net position of
$45,918 and sits in a negative net position as of December 31, 2021.
Internal Services Funds reported net position of $15,251,900 as of December 31, 2021, an increase of
$1,174,612 compared to net position as of December 31, 2020. The Liability Insurance Fund decreased
in net position by $903,682 in 2021. The Central Services Fund decreased its net position by $215,406.
The Self-Funded Employee Benefits Fund increased in net position by $836,559 due to lower-than-
expected healthcare costs. The Innovation & Technology and 311 Call Center fund is a fully allocated
fund which supports most City departments, and increased in net position by $1,333,605 in fiscal 2021.
The Unemployment Compensation Insurance Fund increase in position by $41,084, and the Parental
Leave Fund increased in net position by $68,091.
Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the government.
The City maintains three fiduciary funds, which consist of two pension trust funds (1925 Police Officers’
Pension and 1937 Firefighters’ Pension) and one custodial fund (Police Distributions Payable).
Pension Trust
Funds
Custodial
Fund
Total assets $ 978,665 $ 1,641,403
Total liabilities 2 1,641,403
Fiduciary net position restricted for pensions 978,663 -
Total additions 10,054,307 863,627
Total deductions 10,087,092 863,627
Net increase (decrease) in net position held in trust $ (32,785) $ -
28
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Effective in fiscal 2009, with the passage of State legislation, the State of Indiana began making
contributions to the 1925 Police Officers’ and 1937 Firefighters’ Pension Funds. These funds no longer
receive property tax revenue distributions beyond fiscal 2009. The administration of the pension plans is
the responsibility of the City.
The net position maintained in the pension trust is the result of timing differences in the payment of pension
benefits and the contributions received from the State of Indiana (the State reimburses in June and
September for expenses paid in the previous calendar year). The cost of healthcare benefits to pension
members are not covered by State contributions. The 1925 Police Officers’ and 1937 Firefighters’ pension
funds will no longer pay retiree health insurance costs, these costs will be paid from the regular Police
Department and Fire Department operating budgets.
General Fund Budgetary Highlights
The City prepares an annual budget for General Fund expenditures, which is subject to City of South Bend
Common Council approval for adoption, before November 1 of the year preceding the budget period,
according to state law concerning the annual budget of second class cities and towns. The Common
Council adopted the 2021 budget at its meeting held in October 2020.
The General Fund budget applicable for fiscal 2021 is reported as follows:
Original
(inclusive of
encumbrances
carried forward) Final
Actual
Budgetary
Basis Variance Revenues / Transfers In $ 70,894,494 $ 77,037,492 $ 77,083,789 $ 46,297
Expenditures / Transfers Out 74,305,754 78,446,868 75,567,091 2,879,777
Surplus (Deficit) $ (3,411,260) $ (1,409,376) $ 1,516,698 $ 2,926,074
General Fund revenues/transfers in was originally budgeted at $70,894,494 for fiscal 2021. During the year,
the General Fund budget for revenue/transfers in was increased by $6,142,998 to $77,037,492. The
revenue budget may be increased or decreased at any time based on updated revenue projections. By
closely aligning the budget with actual results, the City is able to increase the meaningfulness of its analysis.
The revenue/transfers in budget was increased primarily due to an increase in the property tax estimate
because of higher collections than anticipated.
During 2021, the General Fund collected $77,083,789 in revenues/transfers in on a budgetary basis, which
was $6,189,295 higher than the original budget. This difference is 8.7% higher than the original budget.
This increase over budget is due mainly to the receipt of higher-than-expected property taxes in 2021.
General Fund expenditures/transfers out were originally budgeted at $74,305,754 for fiscal 2021, which
included roughly $1.1 million in encumbrances that were carried forward from a previous year. During the
year, the General Fund expenditure/transfers out budgets were increased by $4,141,114 to $78,446,868.
This increase was largely driven by the budgeting of transfers from the General Fund.
General Fund spending is reviewed on a monthly basis under the direction of the City Controller to ensure
spending remains within budgetary constraints. Monthly reviews are conducted with General Fund
department management to review spending projections to ensure that annual expenditures remain within
the budgetary levels. Budget amendments for cost-neutral redistribution between expense categories (i.e.,
personnel, supplies, services, capital) were submitted to Common Council four times during 2021, as
required to adjust the budget to prevent any budget overruns in any expenditure category.
29
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Additional appropriations for projects, initiatives, or unbudgeted spending requirements within the General
Fund as deemed necessary by the Mayor are presented to the Common Council for adoption.
General Fund expenditures/transfers out incurred on a budgetary basis, including cash expended and
outstanding encumbrances as of year-end December 31, 2021, amounted to $75,567,091. The
expenditures/transfers out and commitments as of year-end December 31, 2021 are less than the 2021
amended General Fund budget by $2,879,777 or 3.6%. The largest savings were in the Police Department
and Fire Department budgets as personnel and other costs spent were less than budgeted due to position
vacancies and other factors.
Capital Assets and Debt Administration
Capital Assets of the Primary Government
Governmental Activities Business-type Activities Government-wide
2021 2020 2021 2020 2021 2020
Assets not depreciated
Land $14,496,141 $14,496,141 $2,586,613 $2,586,613 $17,082,754 $17,082,754
Construction in Progress 16,404,213 13,723,541 14,328,420 7,939,233 30,732,633 21,662,774
Total 30,900,354 28,219,682 16,915,033 10,525,846 47,815,387 38,745,528
Assets depreciated
Buildings 139,855,410 138,289,640 82,332,850 81,937,260 222,188,260 220,226,900
Non-building improvements 47,737,443 42,072,478 27,112,178 27,112,178 74,849,621 69,184,656
Machinery and Equipment 54,841,204 54,129,803 41,923,785 39,855,203 96,764,989 93,985,006
Roads and Infrastructure 484,619,434 482,176,059 237,924,362 237,041,548 722,543,796 719,217,607
Total Cost 727,053,491 716,667,980 389,293,175 385,946,189 1,116,346,666 1,102,614,169
Accumulated Depreciation
Buildings 63,451,489 59,574,451 43,314,941 41,624,225 106,766,430 101,198,676
Non-building improvements 14,459,065 12,693,293 12,296,313 11,048,779 26,755,378 23,742,072
Machinery and Equipment 42,019,616 40,148,007 28,933,982 26,516,310 70,953,598 66,664,317
Roads and Infrastructure 366,512,165 353,694,281 95,483,669 89,862,870 461,995,834 443,557,151
Total Accum. Depreciation 486,442,335 466,110,032 180,028,905 169,052,184 666,471,240 635,162,216
Net Depreciated Assets 240,611,156 250,557,948 209,264,270 216,894,005 449,875,426 467,451,953
Net Capital Assets $271,511,510 $278,777,630 $226,179,303 $227,419,851 $497,690,813 $506,197,481
The investment in capital assets includes land and land improvements, buildings and building
improvements, vehicles, information technology equipment, machinery and equipment, and construction in
progress. A detailed explanation of these capital assets can be found in the Notes to the Financial
Statements.
Under the category of roads and infrastructure, the current cost amount of $722,543,796 includes estimated
costs derived primarily from the City’s 2006 implementation of GASB Statement No. 34, which required the
retroactive reporting of infrastructure capital assets. All other assets are recorded at historical cost.
Major Capital Asset Project Spending in 2021
Included in capital asset additions for 2021 were the following major projects:
River Walk Upgrades (Beyer Street to Howard Park) ($3,429,279)
Historic Leeper Park Improvements ($2,156,273)
Cleveland/Brick Road Paving Improvements ($1,255,644)
30
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Capital Assets Analysis
As of December 31, 2021, government-wide capital assets were valued at $497,690,813, net of
accumulated depreciation, a decrease of $8,506,668, or 1.7%, since December 31, 2020. Construction in
Progress increased by $9,069,859 and capitalized assets in land, buildings, improvements, machinery and
equipment, and roads decreased by $17,576,527, net of depreciation, since December 31, 2020.
As of December 31, 2021, the cost of Roads & Infrastructure ($722,543,796) was the major asset class
followed by Buildings ($222,188,260) and Machinery & Equipment ($96,764,989).
Total depreciation expense was $33,459,812 for 2021, as compared to $34,106,851 for 2020. Depreciation
expense was $21,747,814 for governmental activities and $11,711,998 for business-type activities for 2021.
Additional information on capital assets can be found in the notes to the financial statements in Note 6.
Debt Administration
Outstanding debt principal as of December 31, 2021 was $218,219,621, a decrease of $12,414,271, or
5.4% from 2020. City outstanding debt includes general obligation bonds, revenue bonds, mortgage bonds,
notes and loans payable and capital leases.
Beginning Additions Retirements Ending
Governmental Activities
General Obligation Bonds $ 17,005,155 $ - $ (1,054,592) $ 15,950,563
Revenue Bonds 118,820,313 8,860,022 (8,914,455) 118,765,880
Mortgage Bonds 8,389,572 - (2,044,476) 6,345,096
Notes and Loans 3,405,904 - (326,878) 3,079,026
Capital Leases 13,712,755 4,579,762 (5,403,218) 12,889,299
Total Governmental Activities Debt 161,333,699 13,439,784 (17,743,619) 157,029,864
Business-Type Activities
Revenue Bonds 64,329,826 14,339,893 (20,094,879) 58,574,840
Mortgage Bonds 40,771 - (40,771) -
Notes and Loans 1,816,433 - (1,595,721) 220,712
Capital Leases 3,113,163 758,270 (1,477,228) 2,394,205
Total Business-Type Activities Debt 69,300,193 15,098,163 (23,208,599) 61,189,757
Total Debt $ 230,633,892 $ 28,537,947 $(40,952,218) $ 218,219,621
During 2021, the City entered into capital lease agreements in the amount of $4,579,762 to purchase certain
vehicles and equipment. The lease terms are typically for five years with semi-annual debt service paid
from the operating budgets of the user departments. Capital lease financing is used to acquire police
vehicles, fire trucks, ambulances, garbage trucks, computer replacements, copiers and other vehicles and
equipment. The City solicits competitive financing proposals for lease financing from local and national
companies and the interest rate achieved during 2021 was on average less than 2% for these leases.
Under the Indiana Constitution and State statute, the City's general obligation bonded debt and certain
other debt is subject to a legal limitation based upon 2% of 1/3 of the total assessed value of real and
personal property. The City issued two bonds in 2021 – a refunding of 2009 and 2011 Sewage Works
31
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Revenue bonds (new principal amount: $12,450,000) and a Economic Development Income Tax bond to
support infrastructure and roads projects ($7,610,000). Neither of these debt issuances are subject to the
constitutional debt limitation. A calculation of the City’s legal debt limitation can be found in the statistical
debt capacity section of this document.
Additional information on debt can be found in the Notes to the Financial Statements in Note 8 - Leases
and Note 9 - Long-term Debt.
Significant Subsequent Events
There is one event that occurred subsequent to the end of 2021 that might have a material impact on the
interpretation of the City’s financial position:
1. On February 16, 2022, the City of South Bend issued two separate bonds.
a. First, the South Bend Redevelopment Authority issued $6,395,000 in lease-rental
revenue bonds to support various capital projects and improvements at the Morris
Performing Arts Center.
b. Additionally, the City also issued $5,715,000 in economic development lease-rental
revenue bonds to support capital improvements at the Potawatomi Zoo.
c. The revenue backup on both bond issuances is hotel-motel tax revenues that are
specifically designated by state statute to support the Morris Performing Arts Center
and the Potawatomi Zoo (respectively).
Economic Factors and 2021 Budget
Economic Factors
Property tax revenue, historically and at present, is the principal source of revenue for funding of
governmental activities within the City of South Bend.
The State of Indiana General Assembly enacted property tax reform legislation in March 2008. Known as
the “Circuit Breaker”, House Enrolled Act 1001 (HEA 1001) limits property taxes paid to 1% of gross
assessed value for residential homesteads, 2% for agricultural/rental properties, and 3% for all other real
and personal property.
Under current legislation, all Indiana localities assess properties based on market values. Each year
properties are “trended”, which involves comparing property values to sales activity in the neighborhood
and adjusting the current assessed values up or down according to the trended data.
The Circuit Breaker legislation was phased in commencing in fiscal 2009 and has led to significant
reductions in property tax revenues available to fund City governmental operations since then. In 2021, the
primary funds supported by property taxes (General Fund, Parks and Recreation Fund, and Cumulative
Capital Development Fund) lost approximately $41.2 million in taxable property tax levy due to the circuit
breaker caps (Department of Local Government Finance, 2021 St. Joseph County Circuit Breaker Report).
As a consequence of the state enacted legislation in 2008, the City enacted a 0.95% local option income
tax increase to partially offset the property tax revenue loss. The local option tax increase became effective
in October 2009 and has resulted in an increase in local income taxes available to the City to fund ongoing
governmental operations of public safety, parks and recreation, highways and streets and general
government.
32
City of South Bend, Indiana
Management’s Discussion and Analysis (Continued)
December 31, 2021
Management of the City of South Bend will continue to oversee the financial affairs from a position of fiscal
conservatism. Special attention will be given to maintaining adequate fund reserves in the General Fund
and the income tax funds as they are very important to the continued financial strength of the City.
Job creation is the primary engine to drive economic recovery. With the economic outlook for 2022 and
beyond forecasted to be stronger, given the increased availability of vaccines for the COVID-19 virus and
the corresponding easing of restrictions on gatherings and business, the City has opportunity to invest.
Significant concerns linger (particularly around inflation and its impact on both city finances and resident
well-being), but the City is excited to use recent-year surpluses to reinvest back into our community.
Particularly with the passage of the American Recovery Plan in early 2021, the City has the opportunity to
invest in large-scale economic development and infrastructure projects to attempt to change the trajectory
of the local economy and put the City back on the path to growth.
2022 Budget and Beyond
The City will engage to ensure effective delivery of required services to taxpayers and residents within the
constraints of available financial resources. The City will continue to provide required services within the
constraints of a balanced General Fund budget. In the spirit of fiscal responsibility, the City has engaged in
a process of program budgeting for the 2021 and 2022 budgets. This program budgeting is in addition to
the state-required fund and account budgeting through the Indiana Department of Local Government
Finance.
Through its Office of Innovation, the City continues to pursue reengineering programs targeted to create
efficiency and cost improvements within City operations. These include purchasing process reengineering,
back-office process improvements for human resources, performance management and other customer
service operations. These initiatives, upon successful deployment completion, will achieve the desired
results to create efficiency gains in the delivery of services to taxpayers.
The City is committed to creating a budget for fiscal 2023 that will remain fiscally responsible to the effective
delivery of required services to City residents and stakeholders within the existing revenue constraints, as
well as new revenue constraints imposed by the uncertain economic conditions we now face.
Specific concerns for the 2022 budget include the continuing impact of Circuit Breaker property tax reform
on City revenue, the need for economic stimulus in our City and the need to address ever-increasing public
safety costs, high health and pension costs and other stagnant or declining revenue sources such as
gasoline, wheel and auto excise taxes.
Requests for Information
This Management’s Discussion and Analysis, as contained within the City of South Bend Annual
Comprehensive Financial Report, is intended to provide readers with a general overview of the financial
condition of the City of South Bend as of December 31, 2021.
Questions concerning any of the information provided in this report, or requests for additional information,
should be addressed to:
Daniel T. Parker, Controller
City of South Bend
Department of Administration and Finance
227 W. Jefferson Blvd., 12th Floor
South Bend, IN 46601
Telephone (574) 235-9822
Email dparker@southbendin.gov
33
Basic Financial Statements
34
City of South Bend, Indiana
Statement of Net Position
December 31, 2021
Governmental Business-type Component
Activities Activities Total Unit
Assets
Cash and cash equivalents 133,144,173$ 10,884,216$ 144,028,389$ 1,566,000$
Investments 159,945,637 15,136,378 175,082,015 -
Receivables:
Accounts - net 2,102,142 6,932,279 9,034,421 881,493
Interest 154,935 38,589 193,524 -
Taxes 265,657 400,000 665,657 -
Property taxes 87,600,927 - 87,600,927 3,229,878
Loans 7,189,883 - 7,189,883 -
Lease - - - 745,205
Internal balances (19,296) 19,296 - -
Inventory 956,420 867,515 1,823,935 431,671
Prepaid expenses 1,655,820 4,268 1,660,088 8,147
Restricted assets 76,725 43,613,527 43,690,252 -
Property held for resale 8,981,424 - 8,981,424 -
Net pension asset 19,193,872 - 19,193,872 756,630
Capital assets:
Assets not subject to depreciation 30,900,354 16,915,033 47,815,387 1,561,191
Assets subject to depreciation - net 240,611,155 209,264,270 449,875,425 30,106,701
Total assets 692,759,828 304,075,371 996,835,199 39,286,916
Deferred outflows of resources
Unamortized loss on refunding 2,124,663 964,136 3,088,799 -
Deferred outflows related to pensions 22,829,057 1,830,189 24,659,246 386,550
Deferred outflows related to OPEB 4,424,296 751,162 5,175,458 -
Total deferred outflows of resources 29,378,016 3,545,487 32,923,503 386,550
Liabilities
Accounts payable 5,089,729 2,205,275 7,295,004 74,906
Due to other governmental units 107,398 - 107,398 -
Performance deposits payable 105,425 7,000 112,425 -
Accrued liabilities and other:
Accrued payroll payable 2,332,485 449,677 2,782,162 155,578
Accrued interest payable 2,169,993 111,265 2,281,258 -
Taxes payable 282,886 126,998 409,884 -
Other current payables 450,438 140,705 591,143 112,005
Customer deposits payable 810,439 2,289,125 3,099,564 -
Unearned revenue 29,549,185 - 29,549,185 24,399
Noncurrent liabilities:
Due within one year:
Compensated absences 4,623,871 174,965 4,798,836 171,734
Claims payable 4,001,006 - 4,001,006 -
General obligation bonds payable 1,040,000 - 1,040,000 -
Revenue bonds payable 8,838,699 7,499,257 16,337,956 -
Mortgage bonds payable 1,735,000 - 1,735,000 -
Notes and loans payable 297,175 24,682 321,857 -
Capital leases 4,330,296 1,202,645 5,532,941 -
Due in more than one year:
General obligation bonds payable 14,910,563 - 14,910,563 -
Revenue bonds payable 109,914,490 51,075,583 160,990,073 -
Mortgage bonds payable 4,610,096 - 4,610,096 -
Notes and loans payable 2,781,851 196,030 2,977,881 -
Capital leases 8,559,003 1,191,560 9,750,563 -
Net pension liability 140,244,301 2,271,657 142,515,958 -
Total OPEB liability 23,065,327 3,916,056 26,981,383 -
Total liabilities 369,849,656 72,882,480 442,732,136 538,622
See Notes to Financial Statements 35
City of South Bend, Indiana
Statement of Net Position (Continued)
December 31, 2021
Governmental Business-type Component
Activities Activities Total Unit
Deferred inflows of resources
Unamortized gain on refunding 436,837 816,595 1,253,432 -
Deferred inflows related to pensions 40,476,678 3,568,857 44,045,535 1,675,114
Deferred inflows related to OPEB 8,598,290 1,459,827 10,058,117 -
Deferred inflows related to property taxes receivable 87,600,927 - 87,600,927 3,229,878
Total deferred inflows of resources 137,112,732 5,845,279 142,958,011 4,904,992
Net position
Net investment in capital assets 133,711,581 165,916,250 299,627,831 31,637,517
Restricted:
Debt service 10,986,987 - 10,986,987 -
Customer repair and deposit - 4,175,750 4,175,750 -
Bond reserve - 5,156,871 5,156,871 -
Operating reserve - 8,437,609 8,437,609 -
Capital outlay - 24,943,007 24,943,007 -
Net pension asset 19,193,872 - 19,193,872 -
Unrestricted 51,283,016 20,263,612 71,546,628 2,592,335
Total net position 215,175,456$ 228,893,099$ 444,068,555$ 34,229,852$
See Notes to Financial Statements 36
City of South Bend, Indiana
Statement of Activities
For the Year Ended December 31, 2021
Net (Expense) Revenue and Changes in
Program Revenues Net Position
Operating Capital Grants
Primary Government
Charges for Grants and and Governmental Business-type Component
Expenses Services Contributions Contributions Activities Activities Total Unit
Functions/programs
Primary government:
Governmental activities:
General government 13,099,391$ 619,851$ 192,140$ -$ (12,287,400)$ -$ (12,287,400)$ -$
Public safety 66,584,412 6,322,288 10,516,623 - (49,745,501) - (49,745,501) -
Highways and streets 29,402,967 416,847 1,546,356 123,272 (27,316,492) - (27,316,492) -
Community and economic development 18,151,702 1,973,800 6,932,826 2,380,584 (6,864,492) - (6,864,492) -
Culture and recreation 20,298,172 3,791,726 992,163 1,238,463 (14,275,820) - (14,275,820) -
Interest on long-term debt 5,517,287 - - - (5,517,287) - (5,517,287) -
Total governmental activities 153,053,931 13,124,512 20,180,108 3,742,319 (116,006,992) - (116,006,992) -
Business-type activities:
Water utility 14,387,728 21,486,628 - 85,730 - 7,184,630 7,184,630 -
Wastewater utility 29,248,157 41,517,462 - 657,720 - 12,927,025 12,927,025 -
Century center 3,826,100 1,465,145 - - - (2,360,955) (2,360,955) -
Consolidated building 1,346,344 1,518,911 - - - 172,567 172,567 -
Parking garage 966,418 951,227 - - - (15,191) (15,191) -
Solid waste 6,133,675 6,118,743 - - - (14,932) (14,932) -
Emergency medical services 2,017 - - - - (2,017) (2,017) -
Morris performing arts center 45,918 - - - - (45,918) (45,918) -
Total business-type activities 55,956,357 73,058,116 - 743,450 - 17,845,209 17,845,209 -
Total primary government 209,010,288$ 86,182,628$ 20,180,108$ 4,485,769$ (116,006,992)$ 17,845,209$ (98,161,783)$ -$
Component unit:
South Bend Public Transportation Corp. 13,349,669$ 1,153,798$ 6,946,568$ 6,085,789$ -$ -$ -$ 836,486$
General revenues:
Taxes:
Property taxes 87,866,397 - 87,866,397 4,198,981
Income taxes 35,736,715 - 35,736,715 -
Hotel/motel taxes 604,437 1,037,500 1,641,937 -
State-shared revenue 13,357,839 - 13,357,839 -
Unrestricted investment income (loss)(52,191) 4,084 (48,107) 2,127
Gain (loss) on sale of capital assets 104,819 - 104,819 -
Other miscellaneous income 19,002,228 - 19,002,228 -
Total general revenues 156,620,244 1,041,584 157,661,828 4,201,108
Transfers 2,837,246 (2,837,246) - -
Change in net position 43,450,498 16,049,547 59,500,045 5,037,594
Net position - Beginning of year 171,724,958 212,843,552 384,568,510 29,192,258
Net position - End of year 215,175,456$ 228,893,099$ 444,068,555$ 34,229,852$
See Notes to Financial Statements 37
City of South Bend, IndianaGovernmental FundsBalance SheetDecember 31, 2021Local Income TaxParks and Local Income Tax Local Income Tax Economic American NonmajorGeneral FundRecreationPublic SafetyCertified SharesDevelopmentRescue PlanRiver West TIFFundsTotalAssetsCash and cash equivalents27,133,893$ 2,528,680$ 1,725,951$ 9,474,358$ 10,223,855$ 12,178,434$ 14,495,672$ 46,314,240$ 124,075,083$ Investments38,040,148 3,420,375 2,247,590 9,109,306 14,496,111 17,268,011 19,117,512 43,433,225 147,132,278 Receivables:Accounts1,643,630 7,033 - - 150,000 - - 161,879 1,962,542 Interest37,072 3,333 2,190 8,892 14,127 16,828 20,295 39,711 142,448 Taxes- - - - - - - 265,657 265,657 Property taxes43,277,295 10,181,139 - - - - 17,838,049 16,304,444 87,600,927 Loans- - - - - - 635,000 6,554,883 7,189,883 Due from other funds- - - - - - - 48 48 Advances to other funds- - - 356,253 - - - 1,552,482 1,908,735 Inventory- 13,554 - - - - - - 13,554 Property held for resale- - - 175,000 270,001 - 5,722,536 2,813,887 8,981,424 Total assets 110,132,038$ 16,154,114$ 3,975,731$ 19,123,809$ 25,154,094$ 29,463,273$ 57,829,064$ 117,440,456$ 379,272,579$ LiabilitiesAccounts payable 253,346$ 317,235$ -$ 984,065$ 491,330$ -$ 415,834$ 2,049,510$ 4,511,320$ Due to other funds 9,614 6,736 - - 386 - - 1,673 18,409 Due to other governments 107,398 - - - - - - - 107,398 Advances from other funds - - - - - - - 1,908,735 1,908,735 Performance deposits payable 68,950 - - - 6,000 - 18,525 11,950 105,425 Accrued liabilities and other:Accrued payroll payable 1,256,719 203,949 488,040 - - - - 246,213 2,194,921 Taxes payable 153,163 24,988 58,631 - - - - 29,577 266,359 Other current payables 211,628 34,344 82,185 - - - 30,000 69,116 427,273 Customer deposits - - - - - - - 810,439 810,439 Unearned revenue- 82,373 - - - 29,455,024 - - 29,537,397 Total liabilities 2,060,818 669,625 628,856 984,065 497,716 29,455,024 464,359 5,127,213 39,887,676 Deferred inflows of resources- unavailable revenueEMS Medicaid receivable 1,392,294 - - - - - - - 1,392,294 Property taxes receivable43,277,295 10,181,139 - - - - 17,838,049 16,304,444 87,600,927 Total deferred inflows of resources44,669,589 10,181,139 - - - - 17,838,049 16,304,444 88,993,221 Fund balancesNonspendable - 13,554 - 531,253 270,001 - 5,722,536 4,366,369 10,903,713 Restricted - 5,289,796 3,346,875 - - 8,249 33,804,120 82,947,523 125,396,563 Committed - - - - - - - 8,053,213 8,053,213 Assigned - - - 17,608,491 24,386,377 - - 668,327 42,663,195 Unassigned 63,401,631 - - - - - - (26,633) 63,374,998 Total fund balances 63,401,631 5,303,350 3,346,875 18,139,744 24,656,378 8,249 39,526,656 96,008,799 250,391,682 Total liabilities, deferred inflowsof resources, and fund balances110,132,038$ 16,154,114$ 3,975,731$ 19,123,809$ 25,154,094$ 29,463,273$ 57,829,064$ 117,440,456$ 379,272,579$ See Notes to Financial Statements38
City of South Bend, Indiana
Governmental Funds
Reconciliation of the Balance Sheet to the Statement of Net Position
December 31, 2021
Fund balances reported in governmental funds 250,391,682$
Amounts reported for governmental activities in the statement of net position are different because:
Capital assets used in governmental activities are not financial resources and are not
reported in the funds 270,529,669
Prepaid expenses are not available to pay for current period expenditures, and therefore
are not reported in the funds 86,129
Net pension assets are not available to pay for current period expenditures, and
therefore are not reported in the funds 19,193,872
Deferred outflows on refunding are not due and payable in the current period and
are not reported in the funds 2,124,663
Deferred outflows related to pensions are not due and payable in the current period and are
not reported in the funds 22,110,961
Deferred outflows related to OPEB are not due and payable in the current period and are
not reported in the funds 4,129,568
Notes and loans payable, general obligation bonds payable, mortgage bonds payable, revenue bonds
payable, and capital leases are not due and payable in the current period and are not reported in the funds (154,937,896)
Accrued interest is not due and payable in the current period and is not reported in the funds (2,146,897)
Employee compensated absences are payable over a long period of years and do not represent
a claim on current financial resources; therefore, they are not reported as fund liabilities (4,518,154)
Receipt of funds in advance of recognition increases fund balance in the governmental funds, but
is reported as a liability in the government-wide statements.(11,788)
Net pension liabilities do not present a claim on current financial resources and are
not reported as fund liabilities (139,352,990)
Total OPEB liability does not present a claim on current financial resources and
is not reported as fund liability (21,528,816)
Deferred inflows on refunding are not receivable and not available to pay current period
expenditures, and thus not included in the governmental fund balance (436,837)
Deferred inflows of resources related to pensions do not present a claim on current
financial resources and are not reported as fund liabilities (39,076,394)
Deferred inflows of resources related to OPEB do not present a claim on current
financial resources and are not reported as fund liabilities (8,025,510)
Future inflows related to EMS Medicaid revenue and other inflows are not reported as revenue in the
governmental funds until they become available to finance current period expenditures 1,392,294
Internal service funds are included as part of governmental activities 15,251,900
Net position of governmental activities 215,175,456$
See Notes to Financial Statements 39
City of South Bend, IndianaGovernmental FundsStatement of Revenues, Expenditures, and Changes in Fund BalancesFor the Year Ended December 31, 2021Local Income TaxParks and Local Income Tax Local Income Tax Economic American NonmajorGeneral FundRecreationPublic SafetyCertified SharesDevelopmentRescue PlanRiver West TIFFundsTotalRevenuesProperty taxes 43,659,873$ 10,271,000$ -$ -$ -$ -$ 18,120,969$ 15,814,555$ 87,866,397$ Income taxes - - 9,391,746 13,334,937 13,006,489 - - 3,543 35,736,715 Hotel/motel taxes - - - - - - 383,000 221,437 604,437 Licenses and permits 258,054 253 - - - - - 45,530 303,837 Intergovernmental 15,815,822 1,111,437 - - - - 868,707 18,445,837 36,241,803 Charges for services 5,286,199 2,922,965 - - - - - 4,955,851 13,165,015 Fines and forfeitures 6,235 12 - - - - - 607,724 613,971 Investment income (loss) (25,156) (7,808) 1,744 3,169 2,768 8,249 (17,079) (18,078) (52,191) Other 12,937,697 1,027,784 - 123,178 151,545 - 2,900 4,720,025 18,963,129 Total revenues 77,938,724 15,325,643 9,393,490 13,461,284 13,160,802 8,249 19,358,497 44,796,424 193,443,113 ExpendituresCurrent:General government 8,460,476 - - 1,394,160 - - - 4,233,820 14,088,456 Public safety 67,430,055 - 9,845,124 40,000 2,612,931 - - 483,172 80,411,282 Highways and streets 3,087,510 - - 1,526,982 - - - 11,384,622 15,999,114 Community and economic development - - - - 1,914,560 - 635,001 10,241,637 12,791,198 Culture and recreation 1,230,452 14,004,200 - 952,929 - - - 457,167 16,644,748 Capital outlay:General government - - - - - - - 49,478 49,478 Public safety - - - 102,439 - - - 1,117,419 1,219,858 Highways and streets 23,229 - - - - - 1,668,860 8,550,470 10,242,559 Community and economic development - - - 33,324 248,229 - 3,219,446 1,354,798 4,855,797 Culture and recreation - 534,440 - - - - 41,054 2,700,278 3,275,772 Debt service:Principal145,798 452,898 - 1,631,258 314,344 - 3,883,193 9,694,232 16,121,723 Interest on long-term debt1,667 31,020 - 53,009 209,777 - 958,715 4,619,040 5,873,228 Bond issuance costs- - - - - - - 258,996 258,996 Total expenditures 80,379,187 15,022,558 9,845,124 5,734,101 5,299,841 - 10,406,269 55,145,129 181,832,209 Excess of revenues (under) over expenditures (2,440,463) 303,085 (451,634) 7,727,183 7,860,961 8,249 8,952,228 (10,348,705) 11,610,904 Other financing sources (uses)Issuance of debt - - - 1,598,000 - - - 8,945,000 10,543,000 Premium on debt - - - - - - - 1,250,022 1,250,022 Proceeds from sale of capital assets - 17,250 - 99,820 - - - 14,260 131,330 Transfers in 8,881,400 1,232,541 - 147,786 1,000,000 - 582,810 30,818,738 42,663,275 Transfers out (4,948,094) - - (6,270,396) (3,468,986) - (5,013,303) (20,125,250) (39,826,029) Total other financing sources (uses) 3,933,306 1,249,791 - (4,424,790) (2,468,986) - (4,430,493) 20,902,770 14,761,598 Net change in fund balances1,492,843 1,552,876 (451,634) 3,302,393 5,391,975 8,249 4,521,735 10,554,065 26,372,502 Fund balances - Beginning of year61,908,788 3,750,474 3,798,509 14,837,351 19,264,403 - 35,004,921 85,454,734 224,019,180 Fund balances - End of year 63,401,631$ 5,303,350$ 3,346,875$ 18,139,744$ 24,656,378$ 8,249$ 39,526,656$ 96,008,799$ 250,391,682$ See Notes to Financial Statements40
City of South Bend, Indiana
Governmental Funds
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds
For the Year Ended December 31, 2021
Net change in fund balances - Total governmental funds 26,372,502$
Amount reported for governmental activities in the statement of activities are different because:
Governmental funds report capital outlays as expenditures; however, in the statement of activities,
these costs are allocated over their estimated useful lives as depreciation:
Capital outlay 14,456,409
Depreciation expense (21,618,777)
Net book value of assets disposed and transferred (26,511)
Prepaid expenses recorded in the statement of net position do not require the use of current financial
resources, and therefore are not reported in the fund statements 15,433
Issuance of debt (from notes and loans payable, mortgage bonds payable, revenue bonds payable, and
capital leases) provide financial resources to governmental funds, but issuing debt increases long-term
liabilities in the statement of net position (10,543,000)
Premium on debt proceeds provide financial resources to governmental funds, but issuing debt
increases long-term liabilities in the statement of net position (1,250,022)
Repayment of debt principal is an expenditure in the governmental funds, but not in the statement of
activities (where it reduces long-term debt)16,121,723
Other adjustments related to debt premiums, discounts, deferred inflows of resources, and deferred outflows 519,565
of resources
Changes in accrued interest payable and other 95,372
Changes in compensated absences reported in the statement of activities do not require the use of
current resources, and therefore are not reported in the fund statements until they come due for payment 880,537
Recognition of revenue previously received and available, and thus previously recognized in the
governmental funds (6,362)
Changes in the total OPEB liability reported in the statement of activities do not require the use of current
resources, and therefore are not reported in the fund statements until they come due for payment (755,432)
Future receipts of EMS Medicaid revenue and other revenues are not available to pay current period
expenditures, and thus is not included in governmental fund balance (34,141)
Changes in the net pension liabilities and related deferred inflows and outflows of resources
reported in the statement of activities do not require the use of current resources, and therefore
are not reported in the fund statements until they come due for payment 18,048,590
Internal service funds are included as part of governmental activities - Change in net position 1,174,612
Change in net position of governmental activities 43,450,498$
See Notes to Financial Statements 41
City of South Bend, Indiana
Proprietary Funds
Statement of Net Position
December 31, 2021
Governmental
Activities
Wastewater Nonmajor Proprietary
Water Utility Utility Enterprise Total Internal Service
Assets
Current assets:
Cash and cash equivalents 2,703,516$ 6,367,237$ 1,813,463$ 10,884,216$ 9,069,090$
Investments 3,827,797 9,020,478 2,288,103 15,136,378 12,813,359
Receivables:
Accounts 1,946,626 4,042,911 1,102,842 7,092,379 139,600
Allowance for doubtful accounts (50,000) (85,100) (25,000) (160,100) -
Interest 12,421 23,927 2,241 38,589 12,487
Taxes - - 400,000 400,000 -
Due from other funds 10,072 13,773 2,216 26,061 -
Inventory 672,325 160,786 34,404 867,515 942,866
Prepaid expenses 4,268 - - 4,268 1,569,691
Total current assets 9,127,025 19,544,012 5,618,269 34,289,306 24,547,093
Noncurrent assets:
Restricted assets 15,278,555 26,541,451 1,793,521 43,613,527 76,725
Capital assets:
Assets not subject to depreciation 1,795,746 13,273,833 1,845,454 16,915,033 -
Assets subject to depreciation 51,753,185 136,363,715 21,147,370 209,264,270 981,840
Total noncurrent assets 68,827,486 176,178,999 24,786,345 269,792,830 1,058,565
Total assets 77,954,511 195,723,011 30,404,614 304,082,136 25,605,658
Deferred outflows of resources
Unamortized loss on refunding 27,183 936,953 - 964,136 -
Deferred outflows related to pensions 571,708 852,858 405,623 1,830,189 718,096
Deferred outflows related to OPEB 234,645 350,037 166,480 751,162 294,728
Total deferred outflows of resources 833,536 2,139,848 572,103 3,545,487 1,012,824
Liabilities
Current liabilities:
Accounts payable 607,835 1,417,631 179,809 2,205,275 578,409
Due to other funds - 2,855 3,910 6,765 935
Performance deposits payable - - 7,000 7,000 -
Accrued liabilities and other:
Accrued payroll payable 129,679 189,160 130,838 449,677 137,564
Accrued interest payable 1,925 101,346 7,994 111,265 23,096
Taxes payable 80,934 25,684 20,380 126,998 16,527
Other current payables 21,821 64,673 54,211 140,705 23,165
Customer deposits payable 1,277,052 903,121 108,952 2,289,125 -
Compensated absences 62,863 45,780 66,322 174,965 105,717
Claims payable - - - - 4,001,006
Revenue bonds payable 1,224,257 6,275,000 - 7,499,257 -
Notes and loans payable 24,682 - - 24,682 -
Capital leases 201,048 188,482 813,115 1,202,645 832,976
Total current liabilities 3,632,096 9,213,732 1,392,531 14,238,359 5,719,395
Noncurrent liabilities:
Revenue bonds payable 8,722,870 42,352,713 - 51,075,583 -
Notes and loans payable 196,030 - - 196,030 -
Capital leases - - 1,191,560 1,191,560 1,246,301
Net pension liability 709,612 1,058,580 503,465 2,271,657 891,311
Total OPEB liability 1,223,284 1,824,860 867,912 3,916,056 1,536,511
Total noncurrent liabilities 10,851,796 45,236,153 2,562,937 58,650,886 3,674,123
Total liabilities 14,483,892 54,449,885 3,955,468 72,889,245 9,393,518
Enterprise Funds
See Notes to Financial Statements 42
City of South Bend, Indiana
Proprietary Funds
Statement of Net Position (Continued)
December 31, 2021
Governmental
Activities
Wastewater Nonmajor Proprietary
Water Utility Utility Enterprise Total Internal Service
Deferred inflows of resources
Unamortized gain on refunding 816,595 - - 816,595 -
Deferred inflows related to pensions 1,114,827 1,663,068 790,962 3,568,857 1,400,284
Deferred inflows related to OPEB 456,016 680,271 323,540 1,459,827 572,780
Total deferred inflows of resources 2,387,438 2,343,339 1,114,502 5,845,279 1,973,064
Net position
Net investment in capital assets 42,390,632 101,758,306 21,767,312 165,916,250 961,320
Restricted:
Customer repair and deposit 1,275,408 2,900,342 - 4,175,750 -
Bond reserve 1,418,562 3,738,309 - 5,156,871 -
Operating reserve 2,903,758 5,533,851 - 8,437,609 -
Capital outlay 9,643,440 14,315,857 983,710 24,943,007 -
Unrestricted 4,284,917 12,822,970 3,155,725 20,263,612 14,290,580
Total net position 61,916,717$ 141,069,635$ 25,906,747$ 228,893,099$ 15,251,900$
Enterprise Funds
See Notes to Financial Statements 43
City of South Bend, Indiana
Proprietary Funds
Statement of Revenues, Expenses, and Changes in Net Position
For the Year Ended December 31, 2021
Governmental
Activities
Wastewater Nonmajor Proprietary
Water Utility Utility Enterprise Total Internal Service
Operating revenues
Metered revenue 14,882,289$ 40,268,444$ -$ 55,150,733$ -$
Convention fees - - 1,343,366 1,343,366 -
Fire protection revenue 3,002,031 - - 3,002,031 -
Licenses and permits - - 1,515,351 1,515,351 -
Interest and penalty charges - 750 - 750 -
Parking fees - - 1,009,258 1,009,258 -
Solid waste fees - - 6,092,214 6,092,214 -
Employee/employer contributions - - - - 28,422,037
Charges for sales and services - - - - 7,330,034
Water leak insurance revenue 1,092,113 - - 1,092,113 -
Charges to other funds 1,856,424 392,795 67,477 2,316,696 129,585
Other 642,731 830,817 58,770 1,532,318 1,843,557
Total operating revenues 21,475,588 41,492,806 10,086,436 73,054,830 37,725,213
Operating expenses
Personnel services 3,808,625 6,088,951 2,759,573 12,657,149 4,689,679
Materials and supplies 1,058,780 1,584,208 875,926 3,518,914 6,067,036
Contractual services 5,125,555 5,840,381 3,642,471 14,608,407 7,105,072
Insurance claims and premiums - - - - 17,775,921
General and administration 2,267,793 6,347,746 2,837,178 11,452,717 705,977
Depreciation 1,799,789 7,733,101 2,168,308 11,701,198 129,037
Total operating expenses 14,060,542 27,594,387 12,283,456 53,938,385 36,472,722
Operating income (loss) 7,415,046 13,898,419 (2,197,020) 19,116,445 1,252,491
Nonoperating revenues (expenses)
Investment income (945) 8,305 (3,276) 4,084 2,023
Hotel/motel tax revenues - - 1,037,500 1,037,500 -
Interest expense (327,186) (1,653,770) (37,016) (2,017,972) (64,821)
(Loss) gain on sale of assets 11,040 24,656 (32,410) 3,286 (15,081)
Total nonoperating revenues (expenses) (317,091) (1,620,809) 964,798 (973,102) (77,879)
Income (loss) - Before contributions and transfers 7,097,955 12,277,610 (1,232,222) 18,143,343 1,174,612
Capital contributions - Other capital contributions 85,730 657,720 - 743,450 -
Transfers in 621,317 1,673,683 1,796,371 4,091,371 6,667
Transfers out (1,681,201) (4,543,120) (704,296) (6,928,617) (6,667)
Change in net position 6,123,801 10,065,893 (140,147) 16,049,547 1,174,612
Net position - Beginning of year 55,792,916 131,003,742 26,046,894 212,843,552 14,077,288
Net position - End of year 61,916,717$ 141,069,635$ 25,906,747$ 228,893,099$ 15,251,900$
Enterprise Funds
See Notes to Financial Statements 44
City of South Bend, Indiana
Proprietary Funds
Statement of Cash Flows
For the Year Ended December 31, 2021
Governmental
Activities
Enterprise Funds Proprietary
Wastewater Nonmajor Internal Service
Water Utility Utility Enterprise Total Fund
Cash flows from operating activities
Receipts from customers and users 18,981,335$ 40,262,199$ 9,176,424$ 68,419,958$ 2,259,960$
Receipts from interfund services and
reimbursements 1,821,803 (13,773) (2,216) 1,805,814 35,528,555
Payments to suppliers (6,090,252) (7,081,463) (4,511,687) (17,683,402) (30,718,340)
Payments to employees (4,544,351) (6,900,756) (3,989,698) (15,434,805) (5,323,573)
Internal activity - payments to other funds (2,267,793) (6,350,536) (2,040,265) (10,658,594) (706,671)
Internal activity - payments from other funds 92,193 392,795 67,477 552,465 -
Net cash provided by (used in) operating activities 7,992,935 20,308,466 (1,299,965) 27,001,436 1,039,931
Cash flows from noncapital financing activities
Transfers from other funds 621,317 1,673,683 1,796,371 4,091,371 6,667
Transfers to other funds (1,681,201) (4,543,120) (704,296) (6,928,617) (6,667)
Hotel/motel tax - - 1,037,500 1,037,500 -
Repayments of loans to other funds - 250,000 - 250,000 -
Repayments of loans from other funds - - (250,000) (250,000) -
Proceeds from capital lease used for noncapital expenses - - - - 1,646,762
Principal paid on noncapital debt - - - - (1,006,757)
Interest paid on noncapital debt - - - - (50,358)
Net cash (used in) provided by noncapital financing activities (1,059,884) (2,619,437) 1,879,575 (1,799,746) 589,647
Cash flows from capital and related financing activities
Proceeds from capital debt refunding - 14,339,893 - 14,339,893 -
Proceeds from capital debt issued
for future capital purchase - - 758,270 758,270 -
Proceeds from capital grant - 68,000 - 68,000 -
Proceeds from sales of capital assets 11,040 24,656 - 35,696 1,472
Purchase of capital assets (1,475,034) (7,924,716) (417,862) (9,817,612) (68,349)
Principal paid on capital debt (1,390,548) (20,571,848) (886,142) (22,848,538) (10,371)
Interest paid on capital debt (424,213) (1,625,439) (39,293) (2,088,945) (625)
Debt service charge (1,000) (162,937) - (163,937) -
Net cash (used in) provided by capital and related financing activities (3,279,755) (15,852,391) (585,027) (19,717,173) (77,873)
Cash flows from investing activities
Interest received on investments 2,900 16,712 (2,874) 16,738 7,850
Proceeds from sale and maturities of investment securities (559,591) (576,494) 113,392 (1,022,693) 922,012
Net cash provided by (used in) investing activities (556,691) (559,782) 110,518 (1,005,955) 929,862
Net (decrease) increase in cash and cash equivalents 3,096,605 1,276,856 105,101 4,478,562 2,481,567
Cash and cash equivalents - beginning of year 14,885,466 31,631,832 3,501,882 50,019,180 6,664,248
Cash and cash equivalents - end of year 17,982,071$ 32,908,688$ 3,606,983$ 54,497,742$ 9,145,815$
See Notes to Financial Statements 45
City of South Bend, Indiana
Proprietary Funds
Statement of Cash Flows (Continued)
For the Year Ended December 31, 2021
Governmental
Activities
Enterprise Funds Proprietary
Wastewater Nonmajor Internal Service
Water Utility Utility Enterprise Total Fund
Classification of cash and cash equivalents
Cash and investments 6,531,313$ 15,387,715$ 4,101,565$ 26,020,593$ 21,882,449$
Restricted cash and investments 15,278,555 26,541,451 1,793,521 43,613,527 76,725
Less amounts classified as investments (3,827,797) (9,020,478) (2,288,103) (15,136,378) (12,813,359)
Total cash and cash equivalents 17,982,071$ 32,908,688$ 3,606,983$ 54,497,742$ 9,145,815$
Reconciliation of operating income (loss)
to net cash from operating activities
Operating income (loss) 7,415,046 13,898,419 (2,197,020) 19,116,445 1,252,491
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation and amortization 1,799,789 7,733,101 2,168,308 11,701,198 129,037
(Increase) decrease in assets
Receivables (653,826) (1,092,578) (849,040) (2,595,444) (40,622)
Due from other funds 57,572 (13,773) (2,216) 41,583 103,922
Inventory 21,683 13,648 6,017 41,348 (94,160)
Prepaid expenses and other assets (807) 16,423 7,661 23,277 (410,799)
Increase (decrease) in liabilities
Accounts payable 54,415 275,392 (44,658) 285,149 (372,663)
Taxes payable (3,028) (1,364) 9,810 5,418 (838)
Due to other funds - (2,790) (106,265) (109,055) (694)
Accrued payroll payable 4,967 (15,236) 31,988 21,719 (8,339)
Compensated absences payable (177,750) (263,797) (73,795) (515,342) (175,771)
Customer deposits 15,996 254,768 6,504 277,268 -
Other current payables 21,821 39,026 27,883 88,730 23,165
Estimate of unfiled claims - - - - 1,188,946
(Increase) decrease in deferred outflows of resources
Pension items (201,870) (335,970) (156,186) (694,026) (270,953)
OPEB items 49,264 46,756 25,002 121,022 48,525
Increase (decrease) in net pension liabilities (1,000,637) (1,331,676) (650,006) (2,982,319) (1,176,417)
Increase (decrease) in OPEB liability (161,021) (109,853) (65,729) (336,603) (137,143)
Increase (decrease) in deferred inflows of resources
Pension items 729,005 1,123,840 530,745 2,383,590 933,816
OPEB items 22,316 74,130 31,032 127,478 48,428
Total adjustments 577,889 6,410,047 897,055 7,884,991 (212,560)
Net cash provided by (used in) operating activities 7,992,935$ 20,308,466$ (1,299,965)$ 27,001,436$ 1,039,931$
Noncash investing, capital, and financing activities
Capital assets acquired through lease -$ -$ 354,135$ 354,135$ -$
Capital assets disposed (at cost) (72,874) (343,294) (351,519) (767,686) (64,822)
Capital assets transferred from/to another fund (cost) 10,800 - - 10,800 (10,800)
Capital asset contribution 85,730 657,720 - 743,450 -
Work in progress completed transferred
to capital assets (197,480) (813,185) (287,318) (1,297,983) -
Accumulated depreciation on disposals
of capital assets 72,874 343,294 319,110 735,277 48,268
Accumulated depreciation on transfers of capital assets (10,800) - - (10,800) 10,800
See Notes to Financial Statements 46
City of South Bend, Indiana
Fiduciary Funds
Statement of Fiduciary Net Position
December 31, 2021
Pension Trust Custodial
Funds Fund
Assets
Cash and cash equivalents 404,524$ 1,641,403$
Investments:
U.S. Treasuries 80,881 -
U.S. Government Agency Securities 491,644 -
Tax-Exempt Municipal Bonds 1,057 -
Receivables - Interest 559 -
Total assets 978,665 1,641,403$
Liabilities
Accounts payable 2 -
Police distribution payable - 1,641,403
Total liabilities 2 1,641,403$
Net position restricted for pensions 978,663$
See Notes to Financial Statements 47
City of South Bend, Indiana
Fiduciary Funds
Statement of Changes in Fiduciary Net Position
For the Year Ended December 31, 2021
Pension Trust Custodial
Funds Fund
Additions
Investment income (loss) - Interest and dividends (1,783)$ -$
Police asset seizures - 863,627
Contributions:
On behalf 10,051,971 -
Other 4,119 -
Total contributions 10,056,090 -
Total additions 10,054,307 863,627
Deductions
Benefit payments 10,058,311
Police distributions - 863,627
Administrative expenses 28,781 -
Total deductions 10,087,092 863,627
Net (decrease) increase in net position (32,785) -
Net position - Beginning of year 1,011,448 -
Net position - End of year 978,663$ -$
See Notes to Financial Statements 48
Notes to Financial Statements
49
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies
Reporting Entity
The City of South Bend (the "City") was established under the laws of the State of Indiana and
operates under a Council-Mayor form of government. The accompanying financial statements
present the City and its component units, entities for which the City is considered to be
financially accountable. The component units discussed below are included in the primary
government's reporting entity because of the significance of their operational or financial
relationships with the primary government. Blended component units, although legally
separate entities are in substance part of the government's operations and exist solely to
provide services for the government; data from these units is combined with data of the primary
government. Discretely presented component units are involved in activities of an operational
nature independent from the primary government; their transactions are reported in a separate
column in the government-wide financial statements to emphasize that they are legally
separate from the government.
Component Units and Related Organizations
Blended Component Units
The City’s financial statements contain four blended component units:
The South Bend Redevelopment Authority is a significant blended component unit of the
City. Although it is legally separate from the City, the Redevelopment Authority is
reported as if it were part of the City because its sole purpose is to finance and construct
land, building, and other improvements for use by the City.
The City of South Bend Building Corporation is a legally separate nonprofit corporation and
a significant blended component unit of the City. The Building Corporation is reported
as if it were part of the City because its main purpose is to finance construction and
remodeling of City buildings. Debt of the Building Corporation is repaid through lease
payments from the City.
The Urban Enterprise Association of South Bend (“UEA”) is a legally separate nonprofit
corporation, which is reported as if it were a part of the City. The UEA exists exclusively to
benefit the City through a variety of economic development programs. Additionally, the City
appoints the majority of its governing board, and the organization is staffed by City staff
members through a management agreement.
The Venues Parks & Arts Foundation (“VPA Foundation”) is a legally separate nonprofit
corporation, which is reported as if it were a part of the City. The VPA Foundation exists
solely to raise money through donations and grants for the City.
Financial statements for any of the City’s blended component units are available at the City
Controller's Office, City of South Bend, 227 West Jefferson, 12th Floor County-City Building, South
Bend, Indiana 46601.
Discretely Presented Component Unit
The South Bend Public Transportation Corporation (“Transpo”) is a discretely presented component
unit in these financial statements. Although the City does not have operational responsibility for
Transpo, and no financial benefit or burden accrues to the City due to Transpo’s operations, Transpo
is nonetheless fiscally dependent on the City, per the following relationship:
50
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
Pursuant to Indiana law, Transpo is required to submit its proposed budget and tax levy to
the Common Council of the City of South Bend for adoption. Specifically, Indiana Code § 6-
1.1-17-20 requires that Transpo, as a political subdivision governed by a majority of
unelected officials, submit its proposed budget and property tax levy to the Common Council
of the City of South Bend. Pursuant to Indiana Code § 6-1.1-17-20(e), the Common Council
of the City of South Bend is required to review Transpo’s budget and proposed tax levy and
adopt a final budget and tax levy for Transpo. The Common Council of the City of South
Bend may reduce or modify, but may not increase, the proposed budget or tax levy.
Because Transpo does not have the ability to complete the above essential events without
substantive approval from the South Bend Common Council, it is fiscally dependent upon the City of
South Bend, and the City of South Bend is financially accountable for Transpo. Transpo is therefore
a component unit of the City of South Bend.
The financial statements of Transpo, including all note disclosures, may be obtained from its offices
as follows:
South Bend Public Transportation Corporation
1401 S Lafayette Blvd
South Bend, IN 46613
Related Organizations
The City's officials are also responsible for appointing the members of the boards of other
organizations, but the City's accountability for these organizations generally does not extend far
beyond making the appointments. The mayor and the Common Council appoint the board
members of the South Bend Housing Authority, St. Joseph County Housing Consortium, and the
Saint Joseph County Board of Managers for Hotel-Motel Tax.
Accounting and Reporting Principles
The City follows accounting principles generally accepted in the United States of America
(GAAP) as applicable to governmental units. Accounting and financial reporting pronouncements
are promulgated by the Governmental Accounting Standards Board. The following is a summary
of the significant accounting policies used by the City.
Basis of Presentation
Governmental accounting principles require that financial reports include two different
perspectives: the government-wide perspective and the fund-based perspective.
Government-wide financial statements
The government-wide financial statements (i.e., the statement of net position and the
statement of activities) report information on all of the nonfiduciary activities of the primary
government and its component units. All fiduciary activities are reported only in the fund financial
statements.
The government-wide financial statements are presented on the economic resources
measurement focus and the full accrual basis of accounting. Property taxes are recognized as
revenue in the year for which they are levied. Grants and similar items are recognized as revenue
as soon as all eligibility requirements imposed by the provider have been met. The statements
also present a schedule reconciling these amounts to the modified accrual basis of presentation
found in the fund-based statements. The primary government is reported separately from the single
51
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
discretely presented component unit for which the primary government is financially accountable.
The statement of activities demonstrates the degree to which the direct expenses of a given
function or segment are offset by program revenue. Direct expenses are those that are clearly
identifiable with a specific function or segment. Program revenue includes: (1) charges to
customers or applicants for goods, services, or privileges provided; (2) operating grants and
contributions; and (3) capital grants and contributions, including special assessments. Taxes and
other items not properly included among program revenue are reported instead as general
revenue.
Except for interfund activity and balances between the funds that underlie governmental activities
and the funds that underlie business-type activities, the effect of interfund activity has been
eliminated from these statements.
Fund Financial Statements
The City accounts for its various activities in several different funds in order to demonstrate
accountability for how we have spent certain resources; separate funds allow us to show the
particular expenditures for which specific revenue was used. The various funds are aggregated
into three broad fund types:
Governmental Funds
Governmental funds include all activities that provide general governmental services that
are not business-type activities. This includes the General Fund, special revenue funds, debt
service funds, and capital project funds. The City reports the following funds as “major”
governmental funds:
The General Fund is the primary operating fund because it accounts for all financial
resources used to provide government services other than those specifically assigned to
another fund.
o During the year, the City determined that the Rainy Day fund did not meet the
requirements of a special revenue fund and should be reported within the General
Fund. As a result, the fund balance-beginning of year of the General Fund includes
the fund balance-beginning of year of the Rainy Day fund of $10,882,772.
The Parks and Recreation Fund is used to account for the operation of the City parks
system. Financing is provided by a specific annual property tax levy to the extent that
user fees and miscellaneous revenues are insufficient to provide such financing.
The Local Income Tax – Public Safety Fund is used to account for the City's share of the
public safety portion of the local income tax. Expenditures are restricted to public safety.
The Local Income Tax – Certified Shares Fund is used to account for the City's share
of the Certified Shares portion of the local income tax. Expenditures include any lawful
purpose of the City.
The Local Income Tax – Economic Development Fund is to account for the City's share
of the economic development portion of the local income tax. Expenditures include any
lawful purpose of the City.
52
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
The American Rescue Plan Fund is used to account for the receipt and expenditures of the
funds that the City received from the American Rescue Plan Act of 2021. As a part of this
legislation, Congress allocated $350 billion to state, local, territorial and Tribal governments
to respond to the COVID-19 pandemic, provide economic relief, and lay the foundation for
a strong and equitable recovery.
The River West TIF (Tax Increment Financing) Fund is used to account for public
improvement projects in the river west economic development area. Financing is provided
by property tax proceeds in excess of those attributable to the assessed value of property
in the district before redevelopment.
Proprietary Funds
Proprietary funds include enterprise funds (which provide goods or services to users in
exchange for charges or fees) and internal service funds (which provide goods or services to
other funds of the City). The City reports the following funds as “major” enterprise funds:
The Water Utility Fund accounts for the operation of the City's water distribution system.
The Wastewater Utility Fund accounts for the operation of the City's wastewater
treatment plant, pumping stations, and collection systems.
The City’s internal service funds are used to account for various City liability coverage, employee
medical coverage, police officers' take-home vehicle, innovation & technology/311 call center,
unemployment claims, parental leave program, and central services such as fuel, vehicle
repairs, and various supplies provided to other departments on a cost-reimbursement basis.
The activities are accounted for on a full accrual basis, so that the full costs are recognized and
allocated to the various funds in the year that the costs are incurred.
Fiduciary Funds
Fiduciary funds include amounts held in a fiduciary capacity for others. These amounts will not be
used to operate our government's programs. Activities that are reported as fiduciary include the
following:
The pension trust funds account for the activities of the 1925 Police and 1937 Fire
Pension Funds which accumulate resources for pension benefit payments.
The custodial fund accounts for assets held by the City for assets seized by the South
Bend Police Department during their normal operations.
Interfund Activity
During the course of operations, the City has activity between funds for various purposes. Any
residual balances outstanding at year end are reported as due from/to other funds and advances
to/from other funds. While these balances are reported in fund financial statements, certain
eliminations are made in the preparation of the government-wide financial statements.
Balances between the funds included in governmental activities (i.e., the governmental
and internal service funds) are eliminated so that only the net amount is included as
internal balances in the governmental activities column.
53
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
Similarly, balances between the funds included in business-type activities (i.e., the
enterprise funds) are eliminated so that only the net amount is included as internal
balances in the business-type activities column.
Furthermore, certain activity occurs during the year involving transfers of resources between
funds. In fund financial statements, these amounts are reported at gross amounts as transfers
in/out.
Basis of Accounting
Full Accrual Basis of Accounting
The government-wide and proprietary fund financial statements are reported using the economic
resources measurement focus and the full accrual basis of accounting. Revenues are recorded
when earned and expenses are recorded at the time liabilities are incurred, regardless of the
timing of related cash flows.
Modified Accrual Basis of Accounting
The governmental funds use the current financial resources measurement focus and the modified
accrual basis of accounting. This basis of accounting is intended to better demonstrate
accountability for how the government has spent its resources.
Revenue is recognized when it is both measurable and available. Revenues are
considered available if they are collected during the fiscal year, or collected soon enough
after the end of the year, that they are available to pay for obligations outstanding at the
end of the year. For this purpose, the City considers amounts collected within 60 days of
year end to be available for recognition.
Expenditures are reported when the goods are received or the services are rendered.
o Capital outlays are reported as expenditures (rather than as capital assets)
because they reduce the ability to spend resources in the future.
o Conversely, liabilities that will be funded in the future (such as pension and
retiree healthcare related costs, debt obligations, and employee vacation pay)
are not recorded as expenditures until they come due for payment.
Elements of the Statement of Net Position
Cash and Cash Equivalents
Cash and cash equivalents include cash on hand, demand deposits, and short-term investments
with a maturity of three months or less when acquired.
Investments
State statute (IC 5-13-9) authorizes the City to invest in securities, including but not limited to,
federal government securities, repurchase agreements, and certain money market mutual
funds. Certain other statutory restrictions apply to all investments made by local governmental
units.
Nonparticipating certificates of deposit, demand deposits, and similar nonparticipating
negotiable instruments that are not reported as cash and cash equivalents are reported as
investments at cost. A “nonparticipating” instrument is one that does not recognize market
fluctuations in its valuation.
54
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
Debt securities are reported at fair value. Debt securities are defined as securities backed by the
full faith and credit of the United States Treasury or fully insured or guaranteed by the United States
or any United States government agency.
Open-end mutual funds and money market investments are reported at fair value.
Investment income, including changes in the fair value of investments, is reported as revenue
in the operating statement.
Inventories and Prepaid Items
Inventories are valued at cost, on a first-in, first-out basis. Inventories of governmental funds are
recorded as expenditures when consumed rather than when purchased. Certain payments to
vendors reflect costs applicable to future fiscal years and are recorded as prepaid items in
government-wide, proprietary fund, internal service fund financial statements.
Restricted Assets
Certain proceeds of the enterprise fund revenue bonds, as well as certain resources set aside for
their repayment, are classified as restricted assets on the statement of net position because their
use is limited by applicable bond covenants. Restricted assets also include customer deposits,
operating reserves, capital outlay accounts, and debt service reserve funds.
Capital Assets
Capital assets, which include property, plant, equipment, intangible assets, and infrastructure
assets (e.g., roads, bridges, sidewalks, and similar items), are reported in the applicable
governmental or business type activities column in the government-wide financial statements.
Capital assets are recorded at historical cost or estimated historical cost if purchased
or constructed.
Donated capital assets are recorded at estimated acquisition value at the date of
donation.
The City has implemented retroactive reporting of its infrastructure as of December 31,
2006.
For depreciated assets, the cost of normal maintenance and repairs that do not add to
the value of the asset or materially extend asset lives are not capitalized.
All land purchases are capitalized regardless of acquisition price. Land is never
depreciated.
Major outlays for capital assets and improvements are capitalized when projects have completed
the construction phase. The City has implemented the requirements in GASB Statement No. 89,
and no interest was capitalized during the construction of capital assets of business-type activities.
Infrastructure, intangibles, buildings, equipment, roads, and vehicles are depreciated using the
straight line method over the following useful lives:
Capital Asset Class
Capitalization
Threshold
Useful Lives
(in years)
Buildings and improvements $ 100,000 20 - 30
Large office equipment 10,000 5 - 10
Vehicles and other equipment 10,000 5 - 20
Roads – collectors and residential 250,000 40 - 50
Utilities infrastructure (large) 250,000 30 - 99
55
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
Long-term Obligations
In the government-wide financial statements and the proprietary fund financial statements,
long-term debt and other long-term obligations are reported as liabilities in the applicable
governmental activities, business-type activities, or proprietary fund-type statement of net position.
Bond premiums and discounts are deferred and amortized over the life of the bonds using the
effective interest method. Bonds payable are reported net of the applicable bond premium or
discount. Bond issuance costs are expensed at the time they are incurred. In the fund financial
statements, governmental fund types recognize bond issuances as an “other financing source,”
as well as bond premiums and discounts. Net position restricted for debt service and for capital
outlay shown in the business-type activities and in the enterprise funds are restricted pursuant to
state statute and/or local ordinance.
Deferred Outflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate
section for deferred outflows of resources. This separate financial statement element represents
a consumption of net assets that applies to a future period(s) and will not be recognized as an
outflow of resources (expense/expenditure) until then.
The City has three items that qualify for reporting in this category: the deferred charge on
refunding, deferred charges on pensions, and deferred charges on other post-employment benefits
(OPEB) that are reported in the governmental activities statement of net position. A deferred
charge on refunding results from the difference in the carrying value of refunded debt and its
reacquisition price. This amount is deferred and amortized over the shorter of the life of the
refunded or refunding debt. Deferred outflows of resources are recorded with respect to pensions
per GASB Statement No. 68 and OPEB per GASB Statement No. 75.
Deferred Inflows of Resources
In addition to liabilities, the statement of financial position will sometimes report a separate
section for deferred inflows of resources. This separate financial statement element represents
an acquisition of net assets that applies to a future period(s) and will not be recognized as an
inflow of resources (revenue) until that time.
The City has four items that qualify for reporting in this category: an unamortized gain on a
refunding transaction, deferred inflows related to pensions (per GASB Statement No. 68) and
OPEB (per GASB Statement No. 75), and deferred inflows related to property taxes receivable.
The deferred inflow related to property taxes results from property taxes that are levied prior to the
end of the fiscal year, but will not be received or legally allowed to be spent until a subsequent fiscal
year.
Flow Assumptions
Net Position Flow Assumption
The City will sometimes fund outlays for a particular purpose from both restricted (e.g., restricted
bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report
as restricted net position and unrestricted net position in the government-wide and proprietary
fund financial statements, a flow assumption must be made about the order in which the resources
are considered to be applied. It is the City’s policy to consider restricted net position to have been
depleted before unrestricted net position is applied.
56
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
Fund Balance Flow Assumptions
The City will sometimes fund outlays for a particular purpose from both restricted and
unrestricted resources (the total of committed, assigned, and unassigned fund balance). In
order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund
balance in the governmental fund financial statements, a flow assumption must be made about
the order in which the resources are considered to be applied. It is the government’s policy to
consider restricted fund balance to have been depleted before using any of the components of
unrestricted fund balance. Furthermore, when the components of unrestricted fund balance can
be used for the same purpose, committed fund balance is depleted first followed by assigned fund
balance. Unassigned fund balance is applied last.
Fund Balance Policies
Fund balance of governmental funds is reported in various categories based on the nature
of any limitations requiring the use of resources for specific purposes. The government itself
can establish limitations on the use of resources through either a commitment (committed
fund balance) or an assignment (assigned fund balance).
Nonspendable fund balances include items that cannot be spent. This includes activity
that is not in a spendable form (inventory, long-term portions of loans, property held
for resale) and activity that is legally or contractually required to remain intact, such as
principal balances in a permanent fund.
Restricted fund balances have constraints placed upon the use of the resources either
by an external party such as a grantor or creditor or imposed by law through
constitutional provisions or enabling legislation.
Committed fund balances can be used only for specific purposes pursuant to constraints
imposed by a formal action by the South Bend Common Council or by the South
Bend Redevelopment Commission. This formal action is the passage of an ordinance
by the Council or resolution by the Commission specifying the purposes for which the
funds can be used. The same type of formal action is necessary to remove or change the
use. The South Bend Common Council is the highest level of authority for the non-TIF
Funds. The South Bend Redevelopment Commission is the highest level of decision-
making authority for the TIF Funds and certain other Redevelopment Commission-
controlled funds.
Assigned fund balances include amounts that are constrained by the City's intent to be
used for a specific purpose, but are neither restricted nor committed. For the governmental
fund types other than the General Fund, this is the residual amount within the fund that is
not restricted or committed. Currently, state statute does not require the City’s Common
Council to undertake any resolution regarding the assignment of fund balances.
Assignments of fund balance are imposed by informal action of the City Controller.
Formal action by a governing body is not required to assign fund balances.
The unassigned fund balance is the residual amount of the General Fund not
included in the four categories above. Only the General Fund may report a positive
unassigned fund balance whereas other governmental funds may need to report a
negative unassigned fund balance if expenditures incurred for specific purposes
exceeded the amounts restricted, committed, or assigned to those purposes.
57
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
Minimum Fund Balance Requirements
The fund balance policy proscribes the minimum fund balance as noted below. This is deemed to
be the prudent amount to maintain the City's ability to meet obligations.
General Fund: 50% of annual expenditures
Local Income Tax-Certified Shares: 50% of annual expenditures
Local Income Tax-Economic Development: 50% of annual expenditures
Water Works Operations: 5% of annual expenditures
Wastewater Operations: 5% of annual expenditures
Other: generally 25% of annual expenditures
The detail of the fund balance classifications of the governmental funds for the year ended
December 31, 2021 can be found in Note 16.
Revenues and Expenses / Expenditures
Property Tax Revenue
Property taxes levied are collected by the County Treasurer and are usually distributed to the City
in June and in December. State statute (IC § 6-1.1-17-16) requires the Indiana Department of
Local Government Finance to establish property tax rates and levies by December 31 of the prior
year. These rates are based on the taxable valuation of property as of the preceding January 1.
Taxable property is assessed at 100% of the true tax value (determined in accordance with rules
and regulations adopted by the Indiana Department of Local Government Finance). Taxes may
be paid in two equal installments that become delinquent if not paid by May 10 and November 10,
respectively, at which time penalties and interest are assessed.
Property taxes levied not later than December 31 are recorded as a receivable at year-end, reduced
by any amounts received prior to December 31 (if any) and an estimated allowance for uncollectible
property taxes with an offset to deferred inflows of resources for the same amount. Property tax
revenue is recognized in the year for which the taxes are levied, subject to the available and
measurable criteria for property taxes reported in the funds financial statements.
Pension
The City offers several defined benefit pension plans to its employees. For each plan, the City
records a net pension liability for the difference between the total pension liability calculated by the
actuary and the pension plan’s fiduciary net position. For the purpose of measuring net pension
liability in each plan, deferred outflows of resources and deferred inflows of resources related to
pensions, and pension expense, information about the fiduciary net position of the plans and
additions to/deductions from the pension plans' fiduciary net position have been determined on
the same basis as they are reported by the pension plans. For this purpose, benefit payments
(including refunds of employee contributions) are recognized when due and payable in
accordance with the benefit terms. Investments are reported at fair value.
Net pension liability, expenses and deferred inflows and outflows of resources for each plan are
allocated between governmental activities and proprietary funds based on applicable salaries
covered by each plan.
58
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
Other Postemployment Benefit Costs
The City offers post-employment healthcare benefits to retirees. For purposes of measuring the
total OPEB liability in the government-wide financial statements, deferred outflows of resources
and deferred inflows of resources related to OPEB, and OPEB expense of the City of South Bend
Retiree Healthcare Plan (SBRHP) have been determined on the same basis as they are reported.
OPEB liability, expense and deferred inflows and outflows of resources are allocated between
governmental activities and proprietary funds based on applicable salaries.
Compensated Absences (Vacation and Sick Leave)
Sick Leave - City employees earn sick leave at the rate of four to eight days per year, depending
upon employee classification and length of service.
o Police officers, teamsters, 40 hour-per-week firefighters, and all other employees earn
eight sick days per year, regardless of tenure of service.
o Firefighters working 24-hour workdays with tenure greater than five years earn five days
of sick leave per year, and firefighters working 24-hour workdays with tenure less than
five years, earn four days of sick leave per year.
o Sick leave may accumulate to a maximum 90 days for police officers, 100 days for 40-
hour-per-week firefighters, 38 days for 24-hour-per-day firefighters, 75 days for
teamsters, and 65 days for all other employees.
o Accumulated sick leave is paid to firefighters and police officers upon termination of
employment depending upon the number of sick leave hours transacted, at a rate of
50% to 100% of the base hourly rate of pay for firefighters and at a rate of one-half the
first class patrolman rank rate of pay for police officers. Accumulated sick leave is
paid to teamster employees, upon retirement, at a rate of 50% of the employee’s
base regular rate of pay.
o Sick leave buy-back during employment is paid to firefighters and police officers
annually upon request. Upon request, firefighters are paid unused sick days earned
in the previous year in excess of 252 hours in the sick day bank at the base hourly
rate of pay. Upon request, police officers are paid up to a maximum eight unused sick
days at the first class patrolman rate of pay.
Vacation Leave - Primary government employees earn vacation leave at rates from 10 days
to 28 days based upon hire date, years of service, and employee classification.
o Vacation leave does not accumulate from year to year for police officers, firefighters,
and teamster employees, except in instances where special cases are approved.
Non-bargaining employees carry over to the following year unused vacation time up
to a maximum of 160 hours.
o Unused vacation leave is paid to employees upon termination of employment.
o Firefighters may sell back vacation leave, up to a maximum three days per year,
during selected times of the year, at the employee’s normal hourly rate of pay.
Personal Leave
o City police officers earn personal leave at the rate of seven days per year, and have
the opportunity to earn an additional three days leave with participation in regularly
scheduled police practice shooting exercises. Police officers’ personal leave does
59
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
not accumulate from year to year. Police officers unused personal leave may be rolled
into sick leave.
o City employees under the teamster contract can use up to four days of their sick leave
for personal leave. Personal leave of absence may be available for certain personal,
family, and medical reasons when other forms of leave have been exhausted or
otherwise not available.
o Leaves of absences are unpaid although employees may use accrued vacation, sick,
and comp time. A leave of absence may not exceed 30 calendar days, however an
employee facing exceptional circumstances may seek an additional 30 calendar
day leave of absence subject to approval by the department and HR department.
Employees who are enrolled in the City's insurance plans will be covered during the
initial leave of absence, but benefit time, such as vacation and sick time, will not
accrue during this period. While every effort will be made to retain employment
opportunities for an individual during this time, there is no guarantee of employment at
the completion of personal leave of absence.
Compensatory Leave
o City firefighters can elect to receive compensation for overtime hours worked either
through wage payment or compensatory time off work up to a maximum of 240 hours.
o All other non-exempt employees working overtime hours earn compensatory time off
up to a maximum balance of 36 hours, after which they are paid overtime wage.
o All exempt employees working overtime hours earn compensatory time up to a
maximum of 160 hours.
Unused vacation leave for all City employees, and unused sick leave and compensatory
leave of firefighters, police officers, and teamsters, is accrued when incurred and reported as
a liability in the statement of net position. Amounts due and payable at year end are included
in the proprietary fund statements. A liability for these amounts is reported in governmental funds
only for employee terminations as of year-end.
Proprietary Funds Operating Classification
Proprietary funds distinguish operating revenues and expenses from nonoperating items.
Operating revenues and expenses generally result from providing services and producing and
delivering goods in connection with a proprietary fund’s principal ongoing operations. The principal
operating revenues of the Water and Wastewater Utility Funds, nonmajor proprietary funds, and
internal service funds are charges to customers for sales and services. Operating expenses for
enterprise funds and internal service funds include the cost of sales and services, administrative
expenses, and depreciation on capital assets. All revenues and expenses not meeting this
definition are reported as nonoperating revenues and expenses.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets, liabilities, deferred inflows of resources,
and deferred outflows of resources, and disclosure of contingent assets and liabilities at the date
of the financial statements and the reported amounts of revenue and expenses during the period.
Actual results could differ from those estimates.
60
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 1 – Summary of Significant Accounting Policies (Continued)
Upcoming Accounting Pronouncements
The following pronouncements issued by the GASB will be effective and/or are anticipated to be
reflected in the City’s financial statements for the year ending December 31, 2022:
GASB Statement No. 87, Leases
o This statement establishes a single model for lease accounting based on the
foundational principle that leases are financings of the right to use an underlying asset.
Under this Statement, a lessee is required to recognize a lease liability and an
intangible right-to-use lease asset, and a lessor is required to recognize a lease
receivable and a deferred inflow of resources, thereby enhancing the relevance and
consistency of information about governments’ leasing activities.
GASB Statement No. 91, Conduit Debt Obligations
o This Statement provides for a single method of reporting conduit debt obligations.
GASB Statement No. 92, Omnibus 2020
o This Statement addresses a variety of topics, including:
reporting of intra-entity transfers of assets between a primary government
employer and a component unit defined benefit pension plan or defined benefit
other postemployment benefit (OPEB) plan
The applicability of certain requirements of Statement No. 84, Fiduciary
Activities, to postemployment benefit arrangements
Reporting by public entity risk pools for amounts that are recoverable from
reinsurers or excess insurers
GASB Statement No. 97, Certain Component Unit Criteria, and Accounting and Financial
Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—an
amendment of GASB Statements No. 14 and No. 84, and a supersession of GASB Statement
No. 32
o This Statement addresses the following:
the reporting of fiduciary component units in circumstances in which a potential
component unit does not have a governing board and the primary government
performs the duties that a governing board typically would
the reporting of certain defined contribution pension plans, defined contribution
other postemployment benefit (OPEB) plans, and employee benefit plans other
than pension plans or OPEB plans (other employee benefit plans) as fiduciary
component units in fiduciary fund financial statements
the accounting and financial reporting for Internal Revenue Code (IRC) Section
457 deferred compensation plans (Section 457 plans) that meet the definition
of a pension plan and for benefits provided through those plans
Note 2 – Stewardship, Compliance, and Accountability
Budgetary Information
Annual budgets are adopted on the cash basis which is not consistent with accounting principles
generally accepted in the United States of America. All annual appropriations lapse at fiscal
year-end. Annual budgets are adopted for the following governmental funds:
61
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 2 – Stewardship, Compliance, and Accountability (Continued)
Major governmental funds
General Fund
Special Revenue Funds - Park and Recreation, Local Income Tax-Public Safety, Local
Income Tax-Certified Shares, Local Income Tax-Economic Development, American
Rescue Plan
Capital Projects Fund - River West TIF
Nonmajor governmental funds:
Special Revenue Funds - Motor Vehicle Highway, Studebaker Oliver Revitalization Grants,
Economic Development State Grants, DCI Operating, DCI Federal Grants, Police State
Seizure, Gift Donation Bequest, Police Curfew Violation, Unsafe Building, Law Enforcement
Continuing Education, Rental Units Regulation, Loss Recovery Fund, Code Enforcement,
Local Road and Street, LOIT 2016 Special Distribution, Human Rights Federal Grants,
COVID-19 Response, Local Road and Bridge Grant, MVH Restricted, Morris and Palais
Marketing, Morris PAC Self Promoted Events, Police Block Grants, Hazmat, Indiana River
Rescue, Police Grants, Regional Police Academy, COPS MORE Grant, Federal Drug
Enforcement, Urban Development Action Grant, Leaf Collection and Removal, Police K-9
Unit, Morris/Palais Box Office, City Cemetery, Bowman Cemetery, Industrial Revolving
Fund
Debt Service Funds - 2003 Redevelopment Bond - Airport Taxable, 2003 Redevelopment
Bond - Palais Royale, 2015 Smart Streets Bond Debt Service, 2015 Park Bond Debt
Service, 2017 Park Bond Debt Service, 2017 Eddy St. Commons Bond Debt Service, 2018
Fire Station #9 Bond Debt Service, 2018 TIF Park Bond Debt Service Reserve, 2019 South
Shore Double Tracking Bond Debt Service, 2020 TIF Library Bond Debt Service Reserve,
Century Center Energy Conservation Debt Service, Redevelopment Authority Debt
Service, South Bend Building Corporation Debt Service
Capital Projects Funds – Fire Department Capital, Coveleski Stadium Capital, Cumulative
Capital Development, Cumulative Capital Improvement, Major Moves, Professional Sports
Convention Development Area, Morris Performing Arts Center Capital, Redevelopment
General, TIF West Washington, TIF River East Development, TIF Southside Development
Area No. 1, TIF Douglas Road, TIF River East Residential, Certified Technology Park,
Palais Royale Historic Preservation, Airport Urban Enterprise Zone, Equipment Vehicle
Leasing, 2017 Park Bond Capital, 2017 Eddy St. Commons Bond Capital, 2018 Fire
Station #9 Bond Capital, 2018 TIF Park Bond Capital, 2021 Infrastructure Bond Capital
On or before August 31, the City Controller submits to the Common Council a proposed operating
budget for the year commencing the following January 1. Prior to adoption, the budget is
advertised, and public hearings are conducted by the Common Council to obtain taxpayer
comments. Prior to November 1 of each year, the Common Council, through the passage of an
ordinance, approves the budget for the next year. Copies of the budget ordinance and the
advertisement for funds for which property taxes are levied or highway use taxes are received are
sent to the Indiana Department of Local Government Finance. The budget becomes legally
enacted after the City Controller receives approval of the Indiana Department of Local Government
Finance.
The City's management cannot transfer budgeted appropriations between funds, departments,
divisions, or cost categories (Personnel, Supplies, Services, or Capital) without approval of the
Common Council. The Department of Local Government Finance must approve any revisions to
62
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 2 – Stewardship, Compliance, and Accountability (Continued)
the appropriations for any controlled fund or any department of the General Fund. The legal level
of budgetary control is by fund, department, division and cost classification (Personnel, Services,
Supplies, and Capital).
Budgetary Excess of Expenditures over Appropriations
Expenditures did not exceed appropriations for any funds or any departments within the General
Fund, the Parks and Recreation Fund, the Local Income Tax-Public Safety Fund, the Local Income
Tax-Certified Shares Fund, the Local Income Tax-Economic Development Fund, the American
Rescue Plan Fund, or any other major or nonmajor governmental fund which required legally
approved budgets.
Fund Deficits
As of December 31, 2021, the following fund reported a deficit in fund equity: COVID-19 Response
Fund ($26,633). This fund accounts for a variety of grants, some of which are paid on a
reimbursement basis. This, plus expenditures awaiting a future funding source, accounts for the
current fund deficit. This deficit will be repaid from future revenue in 2022.
Note 3 – Deposits and Investments
Allowable Investments
In accordance with Indiana Code 5-13-9, the City of South Bend Common Council has authorized
investment in securities backed by the full faith and credit of the United States Treasury
or fully guaranteed by the United States of America and issued by the United States Treasury, a
federal agency, a federal instrumentality, or a federal government-sponsored enterprise. The
maturity on these investments may not exceed five (5) years, and at least 75% of the City’s
investment portfolio must have a maturity of two (2) years or less.
In accordance with state law, the Common Council has also authorized investment in money
market mutual funds that are in the form of securities of, or interest in, an open-end, no-load,
management-type investment company or investment trust registered under the provision of
the federal Investment Company Act of 1940, as amended. Investments in money market mutual
funds may not exceed 50% of the funds held by the City and available for investment.
The portfolio of an investment company or investment trust used must be limited to direct
obligations of the United States of America, obligations issued by the federal agency, a federal
instrumentality, or a federal government-sponsored enterprise; or repurchase agreements fully
collateralized by direct obligations of the United States of America or obligations issued by a
federal agency, a federal instrumentality, or a federal government-sponsored enterprise. The form
of securities of, or interest in, an investment company or investment trust must be rated as AAA,
or its equivalent by Standard & Poor's Corporation or its successor or Aaa, or its equivalent, by
Moody's Investors Service, Inc., or its successor. The form of securities in an investment company
or investment trust should have a stated final maturity of one day.
Additionally, the City may enter into repurchase agreements with depositories designated by the
State Board of Finance as depositories for state deposits involving the unit's purchase and
guaranteed resale of any interest-bearing obligations issued or fully insured or guaranteed by the
United States of America, a United States of America government agency, an instrumentality of
the United States of America, or a federal government-sponsored enterprise. The repurchase
agreement must be fully collateralized by interest-bearing obligations as determined by their
current market value.
63
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 3 – Deposits and Investments (Continued)
Finally, the City may invest in municipal securities issued by an Indiana local governmental entity,
a quasi-governmental entity related to the state, or a unit of government, municipal corporation, or
special taxing district in Indiana, if the issuer has not defaulted on any of the issuer's obligations
within the twenty (20) years preceding the date of the purchase.
Deposit and Investment Risks
The City's cash and investments are subject to several types of risk:
Custodial Credit Risk of Bank Deposits
Custodial credit risk is the risk that in the event of a bank failure, the City's deposits may not be
returned to it. Indiana Code § 5-13-8-1 allows a political subdivision of the State of Indiana to
deposit public funds in a financial institution only if that institution is a depository eligible to receive
state funds and has a principal office or branch that qualifies to receive public funds of the political
subdivision.
All City bank balances are insured by either the Federal Deposit Insurance Corporation or the
Public Deposit Insurance Fund, which covers all public funds held in approved depositories. As
such, the City has not formally adopted a deposit policy for custodial credit risk.
Custodial Credit Risk of Investments
Custodial credit risk is the risk that, in the event of the failure of the counterparty, the City will not
be able to recover the value of its investments or collateral securities that are in the possession
of an outside party. The City does not have a policy for custodial credit risk. At year end,
$150,393,457 in U.S. Treasuries, U.S. Government Agency Securities, and Municipal Bond
holdings was uninsured and unregistered, with securities held by the counterparty or by its
trust department or agent but not in the City's name.
Interest Rate Risk
Interest rate risk is the risk that the value of investments will decrease as a result of a rise in interest
rates. The City must follow state statute and limit the stated final maturities of the investments to
no more than five years. The City does not have a formal investment policy for interest rate risk.
At year end, the City had the following investments and maturities:
Maturity
Investment Type Fair Value Less than
One Year One to Two
Years More than
Two Years
Time Deposits $ 41,210,483 $ 11,511,320 $ 21,475,533 $ 8,223,630
U.S. Treasuries 21,207,010 6,012,810 15,194,200 -
U.S. Government
Agency Securities
128,909,387 23,230,390 73,096,067 32,582,930
Tax-Exempt
Municipal Bonds
277,060 277,060 - -
Total $191,603,940 $ 41,031,580 $109,765,800 $ 40,806,560
Credit Risk
Credit risk is the risk that an issuer or other counterparty to an investment will not fulfill its
obligations. U.S. government agency securities are implicitly guaranteed by the full faith and credit
of the U.S. government and are recognized as one of the safest investments available. The
City does not have a formal investment policy for credit risk.
64
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 3 – Deposits and Investments (Continued)
Concentration of Credit Risk
Concentration of credit risk is the risk of loss attributed to the magnitude of a government's
investment in a single issuer. It is the City's practice to limit concentration of investments to no
more than 10% of any institution's asset base. The government of the United States of America
and United States of America governmental agency securities are exempt from this policy
requirement.
Fair Value Measurements
The City categorizes its fair value measurements within the fair value hierarchy established by
generally accepted accounting principles. The hierarchy is based on the valuation inputs used to
measure the fair value of the asset. Level 1 inputs are quoted prices in active markets for identical
assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant
unobservable inputs. Investments that are measured at fair value using the net asset value per
share (or its equivalent) as a practical expedient are not classified in the fair value hierarchy
below. In instances whereby inputs used to measure fair value fall into different levels in the
above fair value hierarchy, fair value measurements in their entirety are categorized based on the
lowest level input that is significant to the valuation. The City’s assessment of the significance of
particular inputs to these fair value measurements requires judgment and considers factors specific
to each asset or liability.
The City has the following recurring fair value measurements as of December 31, 2021:
The fair value of U.S. Treasuries, U.S. Government Agency securities, and Tax-Exempt Municipal
Bonds of $150,393,457 are valued using significant other observable inputs (Level 2 inputs). The
City’s Level 2 holdings are valued using a matrix pricing model with inputs from prices and yields of
similar fixed income holdings.
Note 4 – Receivables
The following receivable accounts have timing and credit characteristics different from typical
accounts receivable.
Loans Receivable
As of December 31, 2021, City funds recognized the following loan receivable balances. The
schedule shows the total receivable and the portion that is not due within one year. These loans
were for economic development projects:
Receivable Noncurrent
TIF River West $ 635,000 $ 615,000
Nonmajor governmental funds:
Community investment grants 166,900 130,182
Urban development action grant 385,577 367,299
Industrial revolving fund 6,002,406 4,681,877
Total nonmajor governmental funds $ 6,554,883 $ 5,179,358
65
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 5 – Net Investment in Capital Assets
The net investment in capital assets as of December 31, 2021 is calculated as follows:
Governmental
Activities
Business-
type
Activities Total
Capital assets not subject to depreciation $ 30,900,354 $ 16,915,033 $ 47,815,387
Capital assets subject to depreciation - Net 240,611,155 209,264,270 449,875,425
Deferred outflows (capital related) 2,124,663 964,136 3,088,799
General obligations bonds payable-current (1,040,000) - (1,040,000)
Revenue bonds payable - current (8,838,699) (7,499,257) (16,337,956)
Mortgage bonds payable - current (1,735,000) - (1,735,000)
Notes and loans payable - current (297,175) (24,682) (321,857)
Capital leases payable - current (3,505,389) (1,202,645) (4,708,034)
General obligations bonds payable-noncurrent (14,910,563) - (14,910,563)
Revenue bonds payable - noncurrent (109,914,490) (51,075,583) (160,990,073)
Mortgage bonds payable - noncurrent (4,610,096) - (4,610,096)
Notes and loans payable - noncurrent (2,781,851) (196,030) (2,977,881)
Capital leases payable - noncurrent (7,325,153) (1,191,560) (8,516,713)
Deferred inflows (capital related) (436,837) (816,595) (1,253,432)
Unspent debt proceeds 15,470,662 779,163 16,249,825
Net investment in capital assets $133,711,581 $165,916,250 $299,627,831
The business-type activities' unspent debt proceeds are capital lease proceeds, reported as restricted
assets.
Note 6 – Capital Assets
Capital asset activity of the City's governmental and business-type activities was as follows:
Governmental Activities
Governmental Activities
Balance
January 1,
2021
Additions /
Transfers
Disposals /
Transfers
Balance
December
31, 2021
Capital assets, non-depreciable
Land $ 14,496,141 $ - $ - $ 14,496,141
Construction in progress 13,723,541 11,604,691 (8,924,019) 16,404,213
Total capital assets, non-depreciable 28,219,682 11,604,691 (8,924,019) 30,900,354
Capital assets, depreciable
Buildings $138,289,640 $ 1,565,770 $ - $139,855,410
Improvements other than buildings 42,072,478 5,664,965 - 47,737,443
Machinery and equipment 54,129,803 2,169,975 (1,458,574) 54,841,204
Roads and other infrastructure 482,176,059 2,443,375 - 484,619,434
Subtotal 716,667,980 11,844,085 (1,458,574) 727,053,491
Less accumulated depreciation for:
Buildings $ 59,574,451 $ 3,877,038 $ - $ 63,451,489
Improvements other than buildings 12,693,293 1,765,772 - 14,459,065
Machinery and equipment 40,148,007 3,287,119 (1,415,510) 42,019,616
Roads and other infrastructure 353,694,281 12,817,884 - 366,512,165
Subtotal 466,110,032 21,747,813 (1,415,510) 486,442,336
Net capital assets, depreciable 250,557,948 (9,903,729) (43,064) 240,611,155
Total governmental activities
capital assets, net
$278,777,630 $ 1,700,962 $ (8,967,083)
$271,511,509
66
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 6 – Capital Assets (Continued)
Business-type Activities
Business-type Activities
Balance
January 1,
2021
Additions /
Transfers
Disposals /
Transfers
Balance
December
31, 2021
Capital assets, non-depreciable
Land $ 2,586,613 $ - $ - $ 2,586,613
Construction in progress 7,939,233 7,687,170 (1,297,983) 14,328,420
Total capital assets, non-depreciable 10,525,846 7,687,170 (1,297,983) 16,915,033
Capital assets, depreciable
Buildings $ 81,937,260 $ 484,798 $ (89,208) $ 82,332,850
Improvements other than buildings 27,112,178 - - 27,112,178
Machinery and equipment 39,855,203 2,747,061 (678,479) 41,923,785
Roads and other infrastructure 237,041,548 882,814 - 237,924,362
Subtotal 385,946,189 4,114,673 (767,687) 389,293,175
Less accumulated depreciation for:
Buildings $ 41,624,225 $ 1,770,935 $ (80,219) $ 43,314,941
Improvements other than buildings 11,048,779 1,247,534 - 12,296,313
Machinery and equipment 26,516,310 3,072,730 (655,058) 28,933,982
Roads and other infrastructure 89,862,870 5,620,799 - 95,483,669
Subtotal 169,052,184 11,711,998 (735,277) 180,028,905
Net capital assets, depreciable 216,894,005 (7,597,325) (32,410) 209,264,270
Total business-type activities
capital assets, net
$227,419,851 $ 89,845 $ (1,330,393) $226,179,303
Depreciation
Accumulated depreciation additions shown in the two schedules above include depreciation expense
and also include accumulated depreciation on assets transferred from other funds. Depreciation
expense was charged to programs of the primary government as follows:
Governmental Activities:
General government $ 206,829
Public safety 2,751,432
Highways and streets, and other general infrastructure 14,193,266
Culture and recreation 3,969,953
Economic development 497,297
Internal service funds 129,037
Total governmental activities depreciation expense $ 21,747,814
Business-type Activities:
Water 1,799,789
Wastewater 7,733,101
Century Center 1,036,059
Building department 42,754
Parking garages 342,117
Solid waste 747,378
Total business-type activities depreciation expense $ 11,701,198
Prior year accumulated depreciation transfer into business-type activities 10,800
Total additions to accumulated depreciation per depreciation schedules $ 11,711,998
67
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 6 – Capital Assets (Continued)
Construction in Progress
The City has active construction projects at year end. As of December 31, 2021, the City's
commitments with contractors are as follows:
Project Spent to Date
Remaining
Commitment
Governmental activities:
Bendix Drive - Lathrop to Toll Road $ 2,472,417 $ 2,825,371
Corby-Ironwood-Rockne Intersection Improvements 1,528,474 2,656,044
Lincoln Way West Streetscape - Olive St Node 1,152,994 781,712
O'Brien Recreational Center Renovations 514,683 43,045
Olive Street Road Reconstruction 1,950,557 4,057,436
Seitz Park Reconstruction 2,221,620 6,833,144
Eddy & Howard Street Intersection Improvements 86,630 43,100
Sample & Mayflower Intersection Improvements 225,136 171,785
Police Station Roof Replacement 30,464 1,276,016
LaSalle Park Improvements 13,973 10,528
Roadway Rehabilitation 2,055,312 210,203
2021 Contractor Paving 1,582,093 1,497,185
2021 Community Crossings Paving 1,274,404 1,271,724
Howard Street / Corby Blvd Streetscape 518,201 92,164
Studebaker Fountain Water Softener System 7,550 6,050
Morris PAC Flooring and Seating Replacement 130,580 1,783,375
Neighborhood Infrastructure Improvements 29,200 120,600
Mishawaka Ave Streetscape Improvements 49,685 56,315
Custom Pumper Fire Truck 560,240 589,892
Total governmental activities 16,404,213 24,325,689
Business-type activities:
Water Utility:
Pinhook Water Treatment Plant Improvements 996,454 992,946
Prairie Ave Water Main Loop 194,045 30,850
South Wellfield Plant & Pressure Zone Improv. 228,295 21,705
1,418,794 1,045,501
Wastewater Utility:
Secondary Treatment & Disinfection Improvements 3,724,130 1,476,444
Sewer and Manhole Rehabilitation 2,448,831 784,039
WWTP Electrical Improvements 6,319,942 762,056
WWTP Masonry Improvements Gallery Bldgs 1-4 416,723 23,981
12,909,626 3,046,520
Total business-type activities $ 14,328,420 $ 4,092,020
Total Construction in Progress $ 30,732,633 $ 28,417,708
68
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 7 – Interfund Receivables, Payables, and Transfers
Interfund Receivables & Payables
Interfund balances resulted from the time lag between the dates that (1) interfund loans are
repaid, (2) interfund goods and services are provided or reimbursable expenditures occur, (3)
transactions are recorded in the accounting system, and (4) payments between funds are
made.
The composition of interfund balances as of December 31, 2021 is as follows:
Receivable Fund Payable Fund Amount
Water Utility General 9,614
Parks & Recreation 6,736
Local Income Tax-Economic Development 386
Nonmajor governmental 1,673
Wastewater Utility 2,855
Century Center 2,151
Nonmajor enterprise 1,759
Internal service 935
Total Water Utility 26,109
Total $ 26,109
Interfund Advances
The City has made the following advances between funds:
Receivable Fund Payable Fund Amount
Local Income Tax-Certified Shares Nonmajor governmental $ 356,253
Nonmajor governmental Nonmajor governmental 1,552,482
Total $ 1,908,735
Specific purposes of the advances are as follows:
The Local Income Tax-Certified Shares Fund advanced funds to the Urban Development
Action Grant Fund for community development projects.
The Major Moves Fund advanced funds to the TIF-Douglas Road Fund for project costs
incurred to construct roads and a parking garage.
69
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 7 – Interfund Receivables, Payables, and Transfers (Continued)
Interfund Transfers
Interfund transfers reported in the fund financial statements are comprised of the following:
Receiving Fund Paying Fund Amount
General Local Income Tax-Certified Shares $ 2,000,000
Nonmajor governmental 50,000
Water Utility 1,681,201
Wastewater Utility 4,543,120
Nonmajor enterprise 607,079
Total General 8,881,400
Parks and Recreation Local Income Tax-Certified Shares 970,396
Nonmajor Governmental 262,145
Total Parks and Recreation 1,232,541
Local Income Tax-Certified Shares Nonmajor governmental 147,786
Local Income Tax-Economic Development Nonmajor governmental 1,000,000
River West TIF Nonmajor governmental 582,810
Nonmajor governmental General Fund 1,448,093
Local Income Tax-Certified Shares 3,300,000
Local Income Tax-Economic Development 3,468,986
River West TIF 5,013,303
Nonmajor governmental 17,491,139
Nonmajor enterprise 97,217
Total Nonmajor governmental 30,818,738
Internal service Internal service 6,667
Water Utility General 621,317
Wastewater Utility General 1,082,313
Nonmajor Governmental 591,370
Total Wastewater utility 1,673,683
Nonmajor enterprise General Fund 1,796,371
Grand Total $ 46,761,313
The City typically uses transfers to fund ongoing operating subsidies into the General Fund, the
Parks & Recreation Fund, and various nonmajor governmental funds.
Additionally, the City recognizes transfers of Payment in Lieu of Taxes (PILOT) payments from
the Water and Wastewater utilities into the General Fund.
70
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 8 – Leases
Operating Leases
The City has entered into various operating leases having initial or remaining noncancelable
terms exceeding one year for golf cart global positioning systems, office machines, and office
space. Rental expenditures during 2021 for these leases were $433,044. The following is a
schedule by years of future minimum rental payments as of December 31, 2021:
Years Ended
December 31 Amount
2022 $ 436,956
2023 104,513
2024 92,793
2025 59,088
2026 34,801
2027 and later 96,760
Total $ 824,911
Capital Leases
The City has entered into various lease agreements as lessee for financing the purchase of various
types of equipment and two parking garages. The parking garage capital leases are being
repaid from governmental funds. Future minimum lease payments and present values of the
net minimum lease payments under these capital leases as of December 31, 2021 are as follows:
Years Ended
December 31
Governmental
Activities
Business-type
Activities
2022 $ 4,558,997 $ 1,236,689
2023 3,443,430 518,627
2024 2,456,974 308,980
2025 2,309,730 232,721
2026 601,443 155,491
Total minimum lease payments 13,370,574 2,452,508
Less amount representing interest 481,275 58,303
Present value $ 12,889,299 $ 2,394,205
Assets acquired through capital leases still in effect are as follows:
Governmental
Activities
Business-type
Activities
Construction in progress $ 590,704 $ -
Buildings - 1,324,615
Machinery and Equipment 8,203,145 3,576,631
Total 8,793,849 4,901,246
Accumulated depreciation (3,319,128) (2,624,069)
Net $ 5,474,721 $ 2,277,177
71
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 9 – Long-term Obligations
Long-Term Obligations Summary
Long-term obligations activity for the year ended December 31, 2021 is summarized as follows:
Governmental Activities
Beginning
Balance Additions Reductions
Ending
Balance
Due Within
One Year
Governmental activities:
Bonds payable:
General obligation $ 16,775,000 $ - $ (1,030,000) $ 15,745,000 $ 1,040,000
Less unamortized (discounts)/premiums 230,155 - (24,592) 205,563 -
Net - general obligation 17,005,155 - (1,054,592) 15,950,563 1,040,000
Revenue 115,873,241 7,610,000 (8,419,344) 115,063,897 8,838,699
Less unamortized (discounts)/premiums 2,947,072 1,250,022 (507,802) 3,689,292 -
Net - revenue 118,820,313 8,860,022 (8,927,146) 118,753,189 8,838,699
Mortgage 8,179,410 - (1,959,410) 6,220,000 1,735,000
Less unamortized (discounts)/premiums 210,162 - (85,066) 125,096 -
Net - mortgage 8,389,572 - (2,044,476) 6,345,096 1,735,000
Total bonds payable 144,215,040 8,860,022 (12,026,214) 141,048,848 11,613,699
Notes from direct borrowings payable 3,405,904 - (326,878) 3,079,026 297,175
Capital leases payable 13,712,755 4,579,762 (5,403,218) 12,889,299 4,330,296
Subtotal 161,333,699 13,439,784 (17,756,310) 157,017,173 16,241,169
Accumulated compensated absences 5,680,180 4,623,871 (5,680,180) 4,623,871 4,623,871
Net pension liability 163,886,898 - (23,642,597) 140,244,301 -
Total other post-employment benefits
(OPEB) liability
23,934,243 - (868,916) 23,065,327 -
Total governmental activities $ 354,835,020 $ 18,063,655 $ (47,948,003) $ 324,950,672 $ 20,865,041
Business-type Activities
Beginning
Balance Additions Reductions
Ending
Balance
Due Within
One Year
Business-type activities:
Bonds payable:
Revenue $ 62,949,257 $ 12,450,000 $ (19,735,000) $ 55,664,257 $ 7,499,257
Less unamortized (discounts)/premiums 1,380,569 1,889,893 (359,879) 2,910,583 -
Net - revenue 64,329,826 14,339,893 (20,094,879) 58,574,840 7,499,257
Mortgage 40,590 - (40,590) - -
Less unamortized (discounts)/premiums 181 - (181) - -
Net - mortgage 40,771 - (40,771) - -
Total bonds payable 64,370,597 14,339,893 (20,135,650) 58,574,840 7,499,257
Notes from direct borrowings payable 1,816,433 - (1,595,721) 220,712 24,682
Capital leases payable 3,113,163 758,270 (1,477,228) 2,394,205 1,202,645
Subtotal 69,300,193 15,098,163 (23,208,599) 61,189,757 8,726,584
Accumulated compensated absences 690,306 174,965 (690,306) 174,965 174,965
Net pension liability 5,253,977 - (2,982,320) 2,271,657 -
Total other post-employment benefits
(OPEB) liability
4,252,658 - (336,602) 3,916,056 -
Total business-type activities $ 79,497,134 $ 15,273,128 $ (27,217,827) $ 67,552,435 $ 8,901,549
Total interest expense for the year was $7,223,251. The City does not have any unused lines of
credit.
72
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 9 – Long-term Obligations (Continued)
Revenue Bonds
The City issues bonds to provide for the acquisition and construction of major capital facilities.
Revenue bonds involve a pledge of specific income derived from the acquired or constructed assets
and to pay debt service.
Utility Revenue Bonds
The City has pledged future revenue, net of operating expenses, to repay water and wastewater
utilities' bonds. Bond ordinances require monthly deposits of a portion of user fee revenue sufficient
to meet requirements of the next principal, interest, and bank fiscal charge payment. Water and
wastewater bond ordinances also require monthly deposits of user fee revenues over 60 months
to produce a bond reserve equal to approximately the maximum annual debt service.
During 2021, the Water Utility paid $1,814,761 in debt payments or approximately 8.5% of operating
revenue. The Wastewater Utility paid $22,197,287 in debt payments or approximately 53.5% of
operating revenue. However, much of the debt payment from the Wastewater Utility stemmed from
a refunding of two existing outstanding liabilities. When excluding these refundings, debt payments
from the Wastewater Utility in 2021 totaled $6,451,578, or approximately 15.5% of operating
revenue.
Other Revenue Bonds
The City has pledged tax incremental financing revenue to meet tax incremental financing and
Redevelopment Authority debt requirements.
Mortgage Bonds
The City issues bonds to provide for the acquisition and construction of major capital facilities.
Bondholders of mortgage bonds have a claim on the real assets constructed or acquired with the
bond proceeds, which the City puts up as collateral for the bond.
The City has pledged assets as collateral in each of the mortgage bonds issued below.
Collateralized assets include the Public Works Service Center, the Central Police Station and
Central Fire Station, and the City’s Fire Training Center.
Events of Default
The bonds and direct borrowings of the City contain significant consequences for default. Default
on the City’s long-term debt is generally defined as one of the following: 1) Failure of the City to
make payment on the due date; 2) Declaration of bankruptcy or insolvency by the City; 3) In the
case of revenue bonds, the failure to apply collected pledged revenues; 4) In the case of mortgage
bonds or revenue bonds secured by a leased asset, the placement of a lien on the underlying asset.
Nearly all of the City’s bonds and direct borrowings contain a provision that, in the event of a default,
the outstanding principal and any outstanding interest of the debt become immediately due. The
events of default are specific and enumerated in each of the provisions – none of the City’s bonds
or direct borrowings contain a subjective acceleration clause.
73
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 9 – Long-term Obligations (Continued)
Bonds Outstanding as of December 31, 2021
Purpose
Outstanding
12/31/2021
Governmental Activities
General Obligation Bonds
South Bend Park District Bonds, Series 2017(A-K)
- Interest rates 3% - 3.25%
- Original issue $14,075,000
- Installments of $350,000 to $580,000 plus interest
- Maturity January 15, 2033 $ 11,345,000
General Obligation Bonds, Series 2018 (Fire Station #9)
- Interest rates 3% - 3.25%
- Original issue $5,045,000
- Installments of $75,000 to $170,000 plus interest
- Maturity January 15, 2038 4,400,000
Total General Obligation Bonds $ 15,745,000
Mortgage Bonds Building Corporation First Mortgage Revenue Refunding Bonds,
Series 2012 (Police & Fire Station Projects)
- Interest rates 2.1% - 5%
- Original issue $13,595,000
- Installments of $545,000 to $770,000 plus interest
- Maturity February 1, 2023 2,250,000
Building Corporation First Mortgage Revenue Bonds, Series 2013
- Original issue $5,580,000
- Installments of $215,000 to $425,000 plus interest
- Maturity February 1, 2033 3,970,000
Total Governmental Mortgage Bonds $ 6,220,000
Revenue Bonds
Indiana Bond Bank Special Program Bonds, Series 2011A (TIF A)
- Interest rates 4% - 5.2%
- Original issue $18,030,000
- Installments of $260,000 to $935,000 plus interest
- Maturity August 1, 2024 5,265,000
74
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 9 – Long-term Obligations (Continued)
Indiana Bond Bank Special Program Bonds, Series 2011A (TIF B)
- Interest rates 4% - 5.2%
- Original issue $10,435,000
- Installments of $254,036 to $530,000 plus interest
- Maturity August 1, 2024 3,000,000
South Bend Redevelopment Authority Lease Rental Revenue
Bonds of 2015 (Refunding 2008)
- Interest rates 2% - 5%
- Original issue $31,450,000
- Installments of $650,000 to $1,210,000 plus interest
- Maturity February 15, 2033 23,015,000
South Bend Redevelopment Authority Lease Rental Revenue
Refunding Bonds, Series 2013 (Refunding 2008)
- Interest rates 2% - 4%
- Original issue $3,990,000
- Installments of $160,000 to $375,000 plus interest *
- Maturity May 1, 2026 1,585,000
2014 St. Joseph County PSAP (EDIT) Revenue Bonds
- City's portion of $9.155M bond (29.03%)
- Interest rates 2% - 3.625%
- Original issue $2,657,697
- Installments of $9,314 to $12,700 plus interest
- Maturity December 31, 2034 1,738,897
South Bend Redevelopment Authority Lease Rental Revenue
Bonds of 2015 (Smart Streets Project)
- Interest rates 3% - 4%
- Original issue $25,000,000
- Installments of $460,000 to $840,000 plus interest
- Maturity February 1, 2037 20,600,000
Economic Development Income Tax Bonds of 2015 (Parks Projects)
- Interest rates 3% - 3.75%
- Original issue $5,605,000
- Installments of $16,667 to $65,000 plus interest
- Maturity August 1, 2035 4,310,000
Taxable Economic Development Revenue Bonds, Series 2017 (Eddy Street Phase II)
- Interest rate 5%
- Original issue $25,000,000
- Installments of $125,000 to $1,790,000 plus interest
- Maturity February 15, 2037 24,305,000
75
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 9 – Long-term Obligations (Continued)
Redevelopment District Bonds, Series 2018 (Parks Projects)
- Interest rates 2% - 3%
- Original issue $11,995,000
- Installments of $340,000 to $955,000 plus interest
- Maturity February 1, 2033 9,570,000
Economic Development Revenue Bonds, Series 2018 (Potawatomi Zoo Project)
- Interest rates 4% - 5%
- Original issue $3,440,000
- Installments of $25,000 to $155,000 plus interest
- Maturity February 1, 2034 3,000,000
South Bend Redevelopment Authority Lease Rental Revenue
Bonds of 2019 (Double Tracking Project)
- Interest rate 5%
- Original issue $7,985,000
- Installments of $270,000 to $500,000 plus interest
- Maturity February 1, 2030 7,065,000
2020 Taxable Economic Development Tax Increment Revenue
Bonds (Library Project)
- Interest rates 2% - 3%
- Original issue $4,225,000
- Installments of $75,000 to $160,000 plus interest
- Maturity February 1, 2037 4,150,00
2021 Building Corporation LIT Lease Rental Revenue Bonds
(Infrastructure Projects)
- Interest rates 3% - 4%
- Original issue $7,610,000
- Installments of $150,000 to $315,000 plus interest
- Maturity August 1, 2036 7,460,000
Total Governmental Revenue Bonds $ 115,063,897
Total Governmental Activities $ 137,028,897
* St. Joseph County has irrevocably pledged hotel-motel tax revenues to finance debt payments
76
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 9 – Long-term Obligations (Continued)
Business-Type Activities
Revenue Bonds
Water Works Refunding Revenue Bonds of 2012B
- Interest rate 2%
- Original issue $3,785,000
- Installments of $335,000 to $425,000 plus interest
- Maturity January 1, 2023 425,000
Amended Water Works Revenue Bonds of 2009, Series B
- Interest rates 5.41% to 5.89%
- Original issue $2,814,256.87
- Installments of $124,257 to $455,000 plus interest
- Maturity January 1, 2030 2,814,257
Sewage Works 2020 Refunding Revenue Bonds (Refunding 2010)
- Interest rates 4%
- Original issue $4,830,000
- Installments of $150,000 to $555,000 plus interest
- Maturity December 1, 2030 4,290,000
Water Works Revenue Bonds of 2012
- Interest rates 2% - 3.7%
- Original issue $8,300,000
- Installments of $340,000 to $540,000 plus interest
- Maturity January 1, 2033 5,080,000
Sewage Works Revenue Bonds Series 2012
- Interest rates 2% - 2.75%
- Original issue $25,000,000
- Installments of $1,150,000 to $1,650,000 plus interest
- Maturity December 1, 2032 15,390,000
Sewage Works Refunding Revenue Bonds of 2013A
- Interest rate 1.94%
- Original issue $14,765,000
- Installments of $715,000 to $1,065,000 plus interest
- Maturity December 1, 2024 2,110,000
Sewage Works Refunding Revenue Bonds of 2015
- Interest rate 2%
- Original issue $27,440,000
- Installments of $2,475,000 to $3,025,000 plus interest
- Maturity December 1, 2025 11,720,000
77
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 9 – Long-term Obligations (Continued)
Water Works Refunding Revenue Bonds of 2016
- Interest rate 3%
- Original issue $3,300,000
- Installments of $260,000 to $440,000 plus interest
- Maturity January 1, 2027 1,500,000
Sewage Works Refunding Revenue Bonds of 2021
- Interest rates 2% - 5%
- Original issue $12,450,000
- Installments of $1,160,000 to $1,310,000 plus interest
- Maturity December 1, 2031 12,335,000
Total Business-Type Revenue Bonds $ 55,664,257
Total Business-Type Activities $ 55,664,257
Notes from Direct Borrowings and Direct Placements
Purpose Outstanding
12/31/2021
Governmental Activities
2015 Century Center Energy Conservation Bond
Interest rates: 3.5%
Original issue: $4,167,897
Installments of $22,585 to $176,508 plus interest
Maturity: May 1, 2031 $ 3,079,026
Total governmental activities $ 3,079,026
Business-type Activities
2009 Water Works State Revolving Loan
Interest rate: 3.37%
Original issue: $427,332
Installments of $17,719 to $29,459 plus interest
Maturity: January 1, 2030 $ 220,712
Total business-type activities $ 220,712
78
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 9 – Long-term Obligations (Continued)
Other Long-term Liabilities
Compensated absences for governmental activities typically have been liquidated from the
General Fund and special revenue funds. All of the December 31, 2021 compensated absences
liabilities are due within one year.
The net 1925 Police and 1937 Firefighters' pension liability will be liquidated from the pension trust
funds. The Public Employees' Retirement Fund (PERF) liability will not be liquidated from the
pension trust funds.
The total OPEB obligation will be liquidated from the General Fund.
Debt Service Requirements to Maturity
Annual debt service requirements to maturity for the above obligations are as follows:
Bonds (General Obligation, Revenue, and Mortgage)
Governmental Activities Business-type Activities
Year Ending
December 31 Principal Interest Total Principal Interest Total
2022 $11,613,699 $5,204,988 $16,818,686 $7,499,257 $1,589,617 $9,088,874
2023 11,383,053 4,710,289 16,093,342 7,440,000 1,422,934 8,862,934
2024 11,067,408 4,249,556 15,316,963 7,640,000 1,248,974 8,888,974
2025 8,486,766 3,812,637 12,299,403 7,110,000 1,065,979 8,175,979
2026 8,571,120 3,486,528 12,057,648 4,225,000 877,903 5,102,903
2027-2031 45,484,306 12,508,856 57,993,161 19,560,000 2,333,270 21,893,270
2033-2036 37,137,545 4,566,722 41,704,269 2,190,000 65,355 2,255,355
2037-2041 3,285,000 79,880 3,364,880 - - -
Totals $137,028,897 $38,619,456 $175,648,352 $55,664,257 $8,604,032 $64,268,289
Notes from Direct Borrowings
Governmental Activities Business-type Activities
Year Ending
December 31 Principal Interest Total Principal Interest Total
2022 $297,175 $105,192 $402,367 $24,682 $7,438 $32,120
2023 303,221 94,738 397,959 25,513 6,606 32,119
2024 309,315 84,073 393,388 26,373 5,746 32,119
2025 315,561 73,193 388,754 27,262 4,858 32,120
2026 321,964 62,093 384,057 28,181 3,939 32,120
2027-2031 1,531,790 135,863 1,667,653 88,701 5,990 94,691
Totals $3,079,026 $555,152 $3,634,178 $220,712 $34,577 $255,289
Current Refundings
On September 9, 2021, the City of South Bend amended/refunded its Sewage Works Revenue
Bonds of 2009, originally issued on December 11, 2009 and its Sewage Works Revenue Bonds of
2011, originally issued on October 25, 2011. The City’s outstanding principal balance on the
refunded bonds was reduced from $15,131,844 to $12,450,000 with a 2%-5% annual coupon rate.
In so doing, the City saved $3,584,455 in debt service costs over the remaining life of the bonds.
79
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 10 – Restricted Assets
As of December 31, 2021, the balances of restricted assets in the enterprise funds are comprised
of the following:
Water Wastewater
Nonmajor
Enterprise
Total
Enterprise
Funds
Payroll taxes/benefits payable $ 37,387 $ 53,092 $ 30,648 $ 121,127
Customer repair and deposit 1,275,408 2,900,342 - 4,175,750
Bond reserve 1,418,562 3,738,309 - 5,156,871
Operating reserve 2,903,758 5,533,851 - 8,437,609
Capital outlay 9,643,440 14,315,857 1,762,873 25,722,170
Total restricted assets $ 15,278,555 $ 26,541,451 $ 1,793,521 $ 43,613,527
Note 11 – Property Held for Resale
The City's Redevelopment Commission has purchased properties in blighted areas for
redevelopment and subsequent resale. As of December 31, 2021, the market value of these
properties is not known. These properties are recognized as assets in the funds that purchased the
property, but the proceeds from the sale of those assets are not expected to have internal or
external restrictions on use.
Note 12 – Service Concession Arrangement
On July 1, 2013, the City entered into a Service Concession Agreement (SCA) with SMG, a civic
center management company, with the purpose of obtaining high-quality professional management
of the Century Center. On October 1, 2019, SMG merged with AEG Facilities to form a new
company, ASM Global.
The initial term of the contract extended through June 30, 2016 and has been extended twice to
now be through December 31, 2022. ASM Global’s compensation is a flat fee of $135,000 for the
first year and is then adjusted by the CPI (Consumer Price Index) for each successive year.
There are also additional financial incentives based on various operational goals. ASM Global is
responsible for all operations and financial reporting. Additionally, ASM Global contributed a one-
time capital infusion of $575,000, to be used for capital improvement that was amortized over
seventy-two (72) months and is fully amortized as of December 31, 2021. No other assets or
liabilities or deferred inflows of resources are remaining on the financial statements related to this
SCA. Both parties retain certain rights regarding operations and contract cessation.
Note 13 – Risk Management
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of
assets; errors and omissions; job-related illnesses or injuries to employees; medical benefits
provided to employees, retirees, and dependents; and natural disasters.
80
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 13 – Risk Management (Continued)
Theft of, damage to, and destruction of assets; errors and omissions; and natural disasters
are covered by commercial insurance from independent third parties. Settled claims from these
risks did not exceed commercial insurance coverage in 2021. There were no significant
reductions in insurance by major category of risk.
Liability Insurance
The City has chosen to establish a risk financing fund for risks associated with job-related
illnesses or injuries to employees, automobile liability, and comprehensive liability. The risk
financing fund is accounted for in the Liability Insurance Premium Reserve Fund, an internal
service fund, whereby assets are set aside for claim settlements.
Excess policies through commercial insurance covers individual claims in excess of $400,000
per claim for job-related illnesses or injuries to employees (workers' compensation) and claims
for damage to and destruction of assets (property damage) with various self-retention amounts.
In recent years, claims resulting from property damage exceeded the property insurance self-
retention amount.
Claims resulting from this risk exceeded the self-retention amount during 2019 by $217,805.
No specific property claim exceeded the self-retention amount in 2020 or 2021.
A premium is charged to each fund based on a study of paid claims and based on the number of
employees and percent of the total budget. Provisions are also made for unexpected and unusual
claims.
Claim expenditures and liabilities of the fund are reported when it is probable that a loss has
occurred, and the amount of the loss can be reasonably estimated. These losses include an
estimate of claims that have been incurred but not reported (IBNRs).
Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends
including frequency and amounts of payouts, and other economic and social factors. The entire
insurance liability balance is reported as a current liability as the City has the intent to pay within
one year.
Group Health Insurance
The City has chosen to establish a risk financing fund for risks associated with medical
benefits of employees and their covered dependents. The risk financing fund is accounted for
in the Self-Funded Employee Benefits Fund, an internal service fund, whereby assets are set
aside for benefit costs.
An excess policy through commercial insurance covers individual claims in excess of $300,000
per year. Claims resulting from this risk exceeded the self-retention amount during 2019,
2020, and 2021 by $24,418, $133,634, and $464,747, respectively. A premium is charged to
each fund based on the number of employees and estimated costs exceeding the employees'
contributions. Provisions are also made for unexpected and unusual claims.
Claim expenditures and liabilities of the fund are reported when it is probable that a loss has
occurred and the amount of the loss can be reasonably estimated. These losses include an
estimate of claims that have been incurred but not reported (IBNRs).
Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends
including frequency and amounts of payouts, and other economic and social factors.
81
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 13 – Risk Management (Continued)
Changes in the estimated liability for the past two fiscal years were as follows:
Liability Insurance Group Health
2021 2020 2021 2020
Unpaid claims - Beginning of year $ 1,836,696 $ 1,746,773 $ 975,363 $ 1,024,845
Incurred claims, including claims
incurred but not reported 3,253,172 2,475,904 14,556,112 13,723,296
Claim payments (1,938,246) (2,385,981) (14,682,091) (13,772,778)
Unpaid claims - End of year $ 3,151,622 $ 1,836,696 $ 849,384 $ 975,363
Note 14 – Subsequent Events
On February 16, 2022, the City of South Bend issued two separate bonds.
First, the South Bend Redevelopment Authority issued $6,395,000 in lease-rental revenue
bonds to support various capital projects and improvements at the Morris Performing Arts
Center.
Additionally, the City also issued $5,715,000 in economic development lease-rental
revenue bonds to support capital improvements at the Potawatomi Zoo.
The revenue backup on both bond issuances is hotel-motel tax revenues that are
specifically designated by state statute to support the Morris Performing Arts Center and
the Potawatomi Zoo (respectively).
Note 15 – Conduit Debt Obligations
From time to time, the City has issued conduit debt obligations to provide financial assistance to
private sector entities for the acquisition and construction of industrial and commercial facilities
deemed to be in the public interest.
The bonds are secured by private sector revenue sources or by the underlying assets constructed
with the bond proceeds, and are not secured by any asset or revenue source of the City, nor by
the full faith and credit of the City.
Neither the City, the State, nor any political subdivision thereof is obligated in any manner for the
repayment of the bonds. Accordingly, the bonds are not reported as liabilities in the accompanying
financial statements.
As of December 31, 2021, there were five series of conduit debt obligations outstanding. The
original issue amounts of these obligations totaled $48,695,000.
During 2021, the City approved no new conduit debt obligations.
82
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 16 – Fund Balance Constraints
The detail of the various components of fund balance is as follows:
General
Fund
Parks and
Recreation
Local
Income Tax
Public
Safety
Local
Income Tax
Certified
Shares
Local
Income Tax
Economic
Develpmnt
American
Rescue
Plan
River West
TIF
Nonmajor
Funds Total
Fund Balances
Nonspendable
Advances to other funds $ - $ - $ - $ 356,253 $ - $ - $ - $1,552,482 $1,908,735
Inventory - 13,554 - - - - - - 13,554
Property held for resale - - - 175,000 270,001 - 5,722,536 2,813,887 8,981,424
Total Nonspendable - 13,554 - 531,253 270,001 - 5,722,536 4,366,369 10,903,713
Restricted
Debt service - - - - - - - 10,986,987 10,986,987
General administration - - - - - 8,249 - 2,627,391 2,635,640
Police and fire salaries - - 3,346,875 - - - - - 3,346,875
Police and fire programs - - - - - - - 695,074 695,074
Street maintenance - - - - - - - 7,352,923 7,352,923
Economic development - - - - - - 33,804,120 44,605,174 78,409,294
Parks maintenance - 5,289,796 - - - - - 1,836,737 7,126,533
Public safety capital - - - - - - - 315,304 315,304
Cultural capital projects - - - - - - - 7,008,808 7,008,808
Street capital projects - - - - - - - 7,519,125 7,519,125
Total Restricted - 5,289,796 3,346,875 - - 8,249 33,804,120 82,947,523 125,396,563
Committed
General administration - - - - - - - 1,689,281 1,689,281
Street capital projects - - - - - - - - -
Police and fire programs - - - - - - - 187,843 187,843
Economic development - - - - - - - 3,479,449 3,479,449
Cultural capital - - - - - - - 2,696,640 2,696,640
Total Committed - - - - - - - 8,053,213 8,053,213
Assigned
General administration - - - 17,608,491 24,386,377 - - - 41,994,868
Police and fire programs - - - - - - - 2,428 2,428
Street maintenance - - - - - - - 342,050 342,050
Economic development - - - - - - - 323,849 323,849
Cultural projects - - - - - - - - -
Total Assigned - - - 17,608,491 24,386,377 - - 668,327 42,663,195
Unassigned 63,401,631 - - - - - - (26,633) 63,374,998
Total fund balances 63,401,631 5,303,350 3,346,875 18,139,744 24,656,378 8,249 39,526,656 96,008,799 250,391,682
Local Income Tax-Public Safety funds are primarily restricted for payment of police and fire
personnel. Parks and Recreation funds are restricted primarily for parks and recreation operating
costs, including personnel.
Local Income Tax-Certified Shares and Local Income Tax-Economic Development funds are
assigned to general government primarily for debt service payments and operating expenses.
River West TIF and Redevelopment Authority Debt Service are restricted for economic
development projects and debt service.
The government-wide statement of net position reports restricted net position for debt service and
capital outlay, which is restricted by enabling legislation.
83
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 17 – Other Postemployment Benefits
Plan Description
The City of South Bend Retiree Healthcare Plan (SBRHP) is a single-employer defined benefit
healthcare plan administered by the City of South Bend, Department of Administration and Finance,
through the City's self-insurance fund. Indiana Code 5-10-8 gives the unit the authority to establish
and amend the plan. No assets are accumulated in a trust that meets the criteria in paragraph 4 of
GASB Statement 75. Namely, employer contributions to the OPEB plan are not irrevocable, nor
are any plan assets legally protected from creditors.
The City issues a publicly available financial report that includes financial statements and required
supplementary information for the plan. The report is available by contacting the City Controller's
office: 227 West Jefferson Blvd., Suite 1200N, South Bend, IN 46601, Phone: (574) 235-9216.
Benefits Provided and Funding Policy
SBRHP provides for medical insurance benefits to eligible retirees and their spouses. Police
officers and firefighters are eligible for retiree health coverage once they attain age 50 with 20 years
of service. General employees are eligible for retiree health coverage upon satisfaction of:
Rule of 85 and age 55; or
Age 65 with 10 years of service; or
Age 60 with 15 years of service
Health care coverage ceases when the retiree or dependent reaches age 65.
The contribution requirements of plan members for SBRHP are established and can be amended
by the City's Common Council. The required contribution is based on projected "pay-as-you-go"
financing requirements. For the year ended December 31, 2021, the City contributed $801,646 to
the plan for current premiums. Police and fire members receiving benefits contributed
approximately 35.5% of the total premiums through their required contribution of $223 per month
for retiree-only coverage in the PPO plan and $135 per month for retiree-only coverage for the HSA
plan. Additionally, police and fire members contributed approximately 40.4% of the total premiums
through their required contribution of $669 for retiree and spouse coverage in the PPO plan and
$402 per month for retiree and spouse coverage in the HSA plan. General employee members
receiving benefits contributed 100% of the total premiums through their required contribution of
$627.35 and $593.39 per month for retiree-only coverage and $1,653.55 and $1,542.89 for retiree
and spouse coverage for the PPO and HSA plans, respectively.
Employees Covered by Benefit Terms
At December 31, 2021, the following employees were covered by the benefit terms:
Active employees with coverage 951
Active employees without coverage 124
Retirees 64
Total 1,139
84
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 17 – Other Postemployment Benefits (Continued)
Total OPEB Liability
The City’s total OPEB liability of $26,981,383 was measured as of December 31, 2021, as
determined by an actuarial valuation as of that date.
Actuarial Assumptions and Other Inputs
The total OPEB liability in the December 31, 2021 actuarial valuation was determined using the
following actuarial assumptions and other inputs, applied to all periods included in the
measurement, unless otherwise specified:
Inflation 2.25% per year
Salary increases 2.75%, average, including inflation
Discount rate 2.12% as of January 1, 2021 and 2.25% as of December 31, 2021
Healthcare cost trend
rates
7.5% for 2022, decreasing 0.5% per year to an ultimate rate of 4.5% for 2028
and later years
Retirees' share of
benefit-related costs
approximately 35.5% for projected health insurance premiums for retirees and
approximately 40.4% for retiree and spouse
The discount rate was based on a yield for 20-year tax-exempt general obligation municipal bonds
(S&P Municipal 20 Year Bond) with an average rating of AA/Aa or higher (or equivalent quality on
another rating scale).
Mortality rates for healthy retirees were based on the SOA RPH-2018 Total Dataset Mortality Table
fully generational using Scale MP-2018 (RPH-2018 table is created based on RPH-2014 mortality
tables with 8 years of MP-2014 mortality improvement backed out, projected to 2018 using MP-
2018 improvement).
The actuarial assumptions used in the December 31, 2021 valuation were based on the results of
an actuarial experience study for the year ending December 31, 2007.
The healthcare coverage election rate was 65% for active police and fire with current coverage,
40% for active general employees with current coverage, and 0% for active employees with no
coverage.
Changes in the Total OPEB Liability
Total OPEB
Liability
Total OPEB Liability as of January 1, 2021 $ 28,186,901
Changes for the year:
Service cost 1,473,053
Interest 620,338
Changes in benefit terms -
Differences between expected and actual experience (2,190,115)
Changes in assumptions or other inputs (307,148)
Benefit payments (801,646)
Net changes (1,205,518)
Total OPEB Liability as of December 31, 2021 $ 26,981,383
85
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 17 – Other Postemployment Benefits (Continued)
Sensitivity of the Total OPEB Liability to Changes in the Discount Rate
The following presents the total OPEB liability of the City as of December 31, 2021, as well as what
the City’s total OPEB liability would be if it were calculated using a discount rate that is 1-
percentage-point lower (1.25%) or 1-percentage-point higher (3.25%) than the current discount
rate:
1% Decrease Discount Rate 1% Increase
(1.25%) (2.25%) (3.25%)
Total OPEB Liability 29,433,823 26,981,383 24,732,262
Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates
The following presents the total OPEB liability of the City, as well as what the City’s total OPEB
liability would be if it were calculated using healthcare cost trend rates that are 1- percentage-point
lower (7.0% decreasing to 3.5%) or 1-percentage-point higher (9.0% decreasing to 5.5%) than the
current healthcare cost trend rate:
Healthcare 1% Decrease Cost Trend 1% Increase
(6.5% Rates (7.5% (8.5%
decreasing decreasing decreasing
to 3.5%) to 4.5%) to 5.5%) Total OPEB Liability 23,712,238 26,981,383 30,870,972
Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
For the year ended December 31, 2021, the City recognized OPEB expense of $1,428,786. As of
December 31, 2021, the City reported deferred outflows of resources and deferred inflows of
resources related to OPEB from the following sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Difference between expected and actual experience $ 957,088 $ (4,181,503)
Changes in assumptions or other inputs 4,218,370 (5,876,614)
Total $ 5,175,458 $ (10,058,117)
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
OPEB will be recognized in OPEB expense as follows:
Year ended
December 31: Amount
2022 $ (664,605)
2023 (664,605)
2024 (664,605)
2025 (664,605)
2026 (664,605)
Thereafter (1,559,634)
86
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans
Plan Descriptions
Public Employees' Retirement Fund (PERF)
The Public Employees' Retirement Fund, a cost-sharing multiple-employer defined benefit pension
plan, administered by the Indiana Public Employees' Retirement Plan (INPRS) Board, provides
pensions for all full-time employees other than police officers and firefighters, who are covered
under the 1977 Police Officers' and Firefighters' Pension and Disability Fund. The pension system
issues a publicly available financial report that can be obtained at http://www.inprs.in.gov.
1977 Police Officers' and Firefighters' Pension and Disability Fund
The 1977 Police Officers' and Firefighters' Pension and Disability Fund, a cost-sharing multiple-
employer defined benefit pension plan administered by the Indiana Public Employees' Retirement
Plan (INPRS) Board, provides pensions for all police officers and firefighters hired after April 30,
1977. The pension system issues a publicly available financial report that can be obtained at
http://www.inprs.in.gov.
1925 Police Officers' Pension Plan
The City contributes to the 1925 Police Officers' Pension Plan, a single-employer defined benefit
pension plan administered by the local pension board as authorized by state statute (IC 36-8-6).
The financial statements of the plan are included in these financial statements as a pension and
other employee benefit trust fund (a fiduciary fund).
Management of the 1925 Police Officers' Pension plan is vested in the pension board, which
consists of nine members - six elected by plan members, the Mayor, the Chief of Police, and the
City Controller.
The pension plan is closed to new entrants.
1937 Firefighters' Pension Plan
The City contributes to the 1937 Firefighters' Pension Plan, a single-employer defined benefit
pension plan administered by the 1937 Firefighters' Pension Plan Board as authorized by state
statute (IC 36-8-7). The financial statements of the plan are included in these financial statements
as a pension and other employee benefit trust fund (a fiduciary fund).
Management of the 1937 Firefighters' Pension Plan is vested in the pension board.
The pension plan is closed to new entrants.
Benefits Provided
Public Employees' Retirement Fund (PERF)
These plans provide retirement, disability and survivor benefits for public employees not covered
by the 1977 Police Officers’ and Firefighters’ Pension and Disability Fund. The Indiana Code, Title
5, Articles 10.2 and 10.3, as amended only by the Indiana General Assembly, identifies the benefit
provisions and establishes the authority under which members and employers are obligated to
contribute to the plan. The City of South Bend participates in two different plans for non-Public
Safety positions: the PERF Hybrid Plan and the My Choice Retirement Savings Plan.
87
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
PERF Hybrid Plan: PERF Hybrid consists of two components: a monthly, employer-funded
defined benefit component and a member-funded defined contribution account. For the defined
benefit component, retirement benefits for employees are calculated as years of credible
service times the average highest 20 quarters of salary times 1.1%. Normal retirement ages
are age 65 and 10 years (eight years for certain elected officials) of creditable service, age 60
and 15 years of creditable service, and age 55 if age and creditable service total at least 85,
with early retirement at 50 with 15 years of service. Vesting period is 10 years. Benefit terms
provide for annual cost of living adjustments to each employee's retirement allowance
subsequent to the employee's retirement date. The annual adjustments are granted by the
Indiana General Assembly on an ad hoc basis. For the defined contribution component of the
Hybrid plan, an employee who leaves service may withdraw his or her Annuity Savings Account
contributions, plus any accumulated interest.
My Choice Retirement Savings Plan: Defined contribution plan with no defined benefit for
employee. Employee contributions are fully vested upon hire, employer contributions to
employee account are vested based upon full years of participation (20% per year – 5 full years
for 100% vesting).
1977 Police Officers' and Firefighters' Pension and Disability Fund
The plan provides retirement, disability, and death benefits. Benefit terms are established and
amended by State legislative action. Annual retirement benefits for employees are calculated as
50% of first-class salary for 20 years of service plus 1% for each six months of active service over
20 years up to a maximum of 12 years (for a total of 32 years of service and 74% of salary). Normal
retirement age is 52 with 20 years of service, with early retirement at age 50.
Employees are eligible for non-duty disability benefits after five years of service and for duty related
disability benefits upon hire. Disability retirement benefits are based on the severity with a
catastrophic disability receiving 100% of salary and less severity receiving lesser amounts
ranging down to 35% of salary.
Death benefits equal the benefit which would have been payable to a beneficiary if the member
had retired at age 50 or at death, whichever is later, under an effective election of the joint and
survivor option available for retirement benefits.
An employee who leaves service may withdraw his or her contributions, plus any accumulated
interest. Benefit terms provide for annual cost-of-living adjustments to each employee’s retirement
allowance subsequent to the employee’s retirement date. The annual adjustments are determined
by statue equal to the change in the Consumer Price Index but not in excess of a 3% increase.
1925 Police Officers' Pension Plan
The plan provides retirement, disability, and death benefits to plan members and beneficiaries. The
plan was established by the plan administrator, as provided by state statute. The financial
statements of the plan are included in these financial statements as a pension trust fund (a fiduciary
fund).
1937 Firefighters' Pension Plan
The plan provides retirement, disability, and death benefits to plan members and beneficiaries. The
plan was established by the plan administrator, as provided by state statute. The financial
statements of the plan are included in these financial statements as a pension trust fund (a fiduciary
fund).
88
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
Employees Covered by Benefit Terms
The following members were covered by the benefit terms:
1925 Police Officer’s
Pension Plan 1937 Firefighters’
Pension Plan
Date of member count December 31, 2021 December 31, 2021
Inactive plan members or beneficiaries
currently receiving benefits 185 130
Active plan members 1 1
Total employees covered by the plan 186 131
Contributions
Public Employees' Retirement Fund
Per Indiana Code, Title 5, Articles 10.2 and 10.3, the contribution requirements of the active
employees and the participating employers are established and may be amended by the INPRS
Board based on recommendations by the INPRS actuary. Employees are required to contribute
3% of their annual pay. The City’s contractually required contribution rate for the year ended
December 31, 2021 was 11.2% of annual payroll for the PERF Hybrid plan and 10% of annual
payroll for the MyChoice Plan. Contributions to the plan from the City were $3,578,344 for the year
ended December 31, 2021.
1977 Police Officers' and Firefighters' Pension and Disability Fund
Per Indiana State statute (IC 36-8-8 and IC 36-8-8.5), the contribution requirements of the active
employees and the participating employers are established and may be amended by the INPRS
Board based on recommendations by the INPRS actuary. Employees are required to contribute
6% of their annual pay. The City’s contractually required contribution rate for the year ended
December 31, 2021 was 17.5% of annual payroll. Contributions to the plan from the City were
$5,438,476 for the year ended December 31, 2021.
1925 Police Officers' Pension Plan
Plan members are required by state statute (IC § 36-8-6-4) to contribute an amount equal to 6% of
the salary of a first class patrolman. The contribution requirements of plan members are established
by state statute. The City's annual pension cost and related information, as provided by the actuary,
is presented in this note. The net pension liability (NPL) is considered an obligation of the City and
is reflected in the statement of net position. The State of Indiana is required by statute to reimburse
the City for benefits paid and has contributed $5,950,693 during 2021 on behalf of the City. The
City has recognized these on behalf payments as intergovernmental revenue and public safety
expenditures in the General Fund.
1937 Firefighters' Pension Plan
Plan members are required by state statute (IC § 36-8-7-8) to contribute an amount equal to 6% of
the salary of a first-class firefighter. The contribution requirements of plan members are established
by state statute. The City's annual pension cost and related information, as provided by the actuary,
is presented in this note. The net pension liability (NPL) is considered an obligation of the City and
is reflected in the statement of net position. The State of Indiana is required by statute to reimburse
the City for benefits paid and has contributed $4,101,279 during 2021 on behalf of the City. The
City has recognized these on behalf payments as intergovernmental revenue and public safety
expenditures in the General Fund.
89
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
Net Pension Liability
The City chooses a date for each pension plan to measure its net pension liability. This is based
on the measurement date of each pension plan, which may be based on a comprehensive valuation
as of that date or based on an earlier valuation that has used procedures to roll the information
forward to the measurement date.
Public
Employees’
Retirement
Fund
1977 Police
Officers’ and
Firefighters’
Pension and
Disability
1925 Police
Officers’
1937
Firefighters’
Measurement date
used for the City NPL June 30,
2021 June 30,
2021 December 31,
2021 December 31,
2021
Based on a
comprehensive
actuarial valuation as of
June 30,
2021 June 30,
2021 December 31,
2021 December 31,
2021
Changes in the net pension liability during the measurement year were as follows:
1925 Police Officers’ Pension Plan
Increase (Decrease)
Changes in Net Pension Liability Total Pension
Liability Plan Fiduciary
Net Position Net Pension
Liability
Balance as of January 1, 2021 $ 81,580,866 $ 556,419 $ 81,024,447
Service cost - - -
Interest 1,174,172 - 1,174,172
Plan Amendments - - -
Experience (gains)/ losses 139,773 - 139,773
Assumption Changes (215,355) - (215,355)
Employer contributions - 4,119 (4,119)
Non-employer contributing entity contributions - 5,947,193 (5,947,193)
Net investment income - (1,010) 1,010
Benefit payments, including refunds (5,834,267) (5,936,871) 102,604
Administrative expenses - (10,320) 10,320
Net changes: (4,735,677) 3,111 (4,738,788)
Balance as of December 31, 2021 $ 76,845,189 $ 559,530 $ 76,285,659
The plan's fiduciary net position represents 0.73% of the total pension liability.
90
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
1937 Firefighters Pension Plan
Increase (Decrease)
Changes in Net Pension Liability Total Pension
Liability Plan Fiduciary
Net Position Net Pension
Liability
Balance as of January 1, 2021 $ 62,768,798 $ 455,029 $ 62,313,769
Service cost - - -
Interest 895,656 - 895,656
Plan Amendments - - -
Experience (gains)/ losses (562,790) - (562,790)
Assumption Changes (218,152) - (218,152)
Non-employer contributing entity contributions - 4,097,779 (4,097,779)
Net investment income - (774) 774
Benefit payments, including refunds (4,189,691) (4,121,440) (68,251)
Administrative expenses - (11,460) 11,460
Net changes: (4,074,977) (35,895) (4,039,082)
Balance as of December 31, 2021 $ 58,693,821 $ 419,134 $ 58,274,687
The plan's fiduciary net position represents 0.71% of the total pension liability.
Public Employees’ Retirement Fund
At December 31, 2021, the City reported a liability of $7,955,612 for its proportionate share of
the net pension liability. The net pension liability was measured as of June 30, 2021 and the
total pension liability used to calculate the net pension liability was determined by an
actuarial valuation as of that date. The City's proportion of the net pension liability was based
on the City's actuarially required contribution for the year ended June 30, 2021, relative to all other
contributing employers. As of June 30, 2021, the City's proportion was 0.60460%, which was
an increase of 0.01164% from its proportion measured as of June 30, 2020.
1977 Police Officers’ and Firefighters’ Pension and Disability Fund
As of December 31, 2021, the City reported a net pension asset of $19,193,872 for its proportionate
share of the net pension asset. The net pension asset was measured as of June 30, 2021 and the
total pension asset used to calculate the net pension asset was determined by an actuarial
valuation as of that date. The City's proportion of the net pension asset was based on the City's
actuarially required contribution for the year ended June 30, 2021, relative to all other contributing
employers. As of June 30, 2021, the City's proportion was 3.24761%, which was a decrease of
0.00308% from its proportion measured as of June 30, 2020.
Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions
As of December 31, 2021, the City reported deferred outflows of resources and deferred inflows of
resources related to pensions from the following sources:
91
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
Public Employees' Retirement Fund
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Difference between expected and actual experience $ 272,105 $ 158,850
Changes in assumptions 4,001,727 1,786,982
Net difference between projected and actual earnings on
pension plan investments - 10,329,639
Employer contributions to the plan subsequent to the
measurement date 1,757,228 -
Changes in proportion and difference between employer
contributions and proportionate share of contributions 378,483 223,098
Total $ 6,409,543 $ 12,498,569
1977 Police Officers' and Firefighters' Pension and Disability Fund
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Difference between expected and actual experience $ 4,982,250 $ 549,704
Changes in assumptions 10,465,460 2,825,986
Net difference between projected and actual earnings on
pension plan investments - 27,996,894
Employer contributions to the plan subsequent to the
measurement date 2,695,131 -
Changes in proportion and differences between employer
contributions and proportionate share of contributions 85,750 174,382
Total $ 18,228,591 $ 31,546,966
1925 Police Officers’ Pension Plan
Deferred
Outflows of
Resources
Investment experience $ 13,572
1937 Firefighters’ Pension Plan
Deferred
Outflows of
Resources
Investment experience $ 7,540
Amounts reported as deferred outflows of resources and deferred inflows of resources related to
pensions will be recognized in pension expense as follows (note that employer contributions
subsequent to the measurement date will reduce the net pension liability and therefore will not be
included in future pension expense):
92
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
Public Employees' Retirement Fund
Year Ending
June 30 Amount
2022
$ (2,084,144)
2023
(1,754,558)
2024
(1,054,844)
2025
(2,952,708)
2026
-
Thereafter
-
Total
$ (7,846,254)
1977 Police Officers' and Firefighters' Pension and Disability Fund
Year Ending
June 30 Amount
2022
$ (6,282,019)
2023
(5,345,039)
2024
(4,206,475)
2025
(5,682,625)
2026
2,092,134
Thereafter
3,410,516
Total
$ (16,013,508)
1925 Police Officers’ Pension Plan
Year Ending
June 30 Amount
2022
$ 3,744
2023
3,694
2024
3,989
2025
2,145
2026
-
Thereafter
-
Total
$ 13,572
1937 Firefighters’ Pension Plan
Year Ending
June 30 Amount
2022
$ 1,746
2023
1,634
2024
2,415
2025
1,745
2026
-
Thereafter
-
Total
$ 7,540
93
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
Actuarial Assumptions
The total pension liability in each actuarial valuation was determined using the following actuarial
assumptions applied to all periods included in the measurement:
Public
Employees'
Retirement
Fund
1977 Police
Officers' and
Firefighters'
Pension and
Disability
Fund
1925 Police
Officers'
Pension Plan
1937
Firefighters'
Pension Plan
Inflation 2.00% 2.00% 2.00% 2.00%
Salary increases (including inflation) 2.65% - 8.65% 2.65% 2.65% 2.65%
Investment rate of return (net of
expenses)
6.25% 6.25% 1.75% 1.75%
Mortality rates
Pub-2010 Public
Retirement Plans
Mortality Tables
(Amount-
Weighted) with a
fully generational
projection of
mortality
improvements
using SOA Scale
MP-2019
Pub-2010 Public
Retirement Plans
Mortality Tables
(Amount-
Weighted) with a
fully generational
projection of
mortality
improvements
using SOA Scale
MP-2019
Pub-2010 Public
Retirement Plans
Mortality Tables
(Amount-
Weighted) with a
fully generational
projection of
mortality
improvements
using SOA Scale
MP-2019
Pub-2010 Public
Retirement Plans
Mortality Tables
(Amount-
Weighted) with a
fully generational
projection of
mortality
improvements
using SOA Scale
MP-2019
The actuarial assumptions used in the June 30, 2021 actuarial valuation date valuation were based
on the results of an actuarial experience study for the five years ended June 30, 2020.
Discount Rate
As shown below, the discount rate used to measure the total pension liability was determined after
considering a projection of the cash flows to determine whether the future contributions (made at
the current contribution rates) will be sufficient to allow the pension plans' fiduciary net position to
make all projected future benefit payments of current active and inactive employees.
The long-term expected rate of return on pension plan investments was determined using a
building-block method in which best-estimate ranges of expected future real rates of return
(expected returns, net of pension plan investment expense, and inflation) are developed for each
major asset class. These ranges are combined to produce the long-term expected rate of return by
weighting the expected future real rates of return by the target asset allocation percentage and by
adding expected inflation update.
Public
Employees'
Retirement
Fund
1977 Police
Officers' and
Firefighters'
Pension and
Disability Fund
1925 Police
Officers'
Pension Plan
1937
Firefighters'
Pension Plan
Assumed investment rate of return 6.25% 6.25% 1.75% 1.75%
Are contributions expected to be
sufficient to allow fiduciary net position
to pay future benefits?
Yes Yes No No
Discount rate used to measure TPL 6.25% 6.25% 1.39% 1.39%
94
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
1925 Police Officers' Pension Plan's and 1937 Firefighters' Pension Plan's fiduciary net position
were not projected to be available to make all projected future benefit payments of current active
and inactive employees. Therefore, the discount rate incorporates a municipal bond rate which
was 1.39%. The source of that bond rate was the Barclay's 20-year Municipal Bond (as referenced
in The Wall Street Journal, December 31, 2021).
Investment Rate of Return Best estimates of geometric real rates of return as of the June 30, 2021
measurement date for the Public Employees’ Retirement Fund and 1977 Police Officers’ and
Firefighters’ Pension and Disability Fund and December 31, 2021 measurement date for the
1925 Police Officers’ Pension Plan and 1937 Firefighters’ Pension Plan, and for each major asset
class included in the pension plan's target asset allocation, as disclosed in the investment footnote,
are summarized in the following tables:
Public Employees' Retirement Fund and 1977 Police Officers' and Firefighters' Pension and
Disability Fund
Asset Class Target
Allocation Long-term
Expected Real
Rate of Return
Public Equity 20% 3.6%
Private Markets 15% 7.3%
Fixed Income - Ex Inflation-Linked 20% 1.5%
Fixed Income - Inflation-Linked 15% -0.3%
Commodities 10% 0.8%
Real Estate 10%
4.2%
Absolute Return 5%
2.5%
Risk Parity 20% 4.4%
Leverage Offset -15% -1.4%
1925 Police Officers’ Pension Plan
Asset Class
Long-term
Expected
Real Rate of
Return
Cash or cash equivalents 1.75%
Fixed income investments 1.75%
1937 Firefighters’ Pension Plan
Asset Class
Long-term
Expected
Real Rate of
Return
Cash or cash equivalents 1.75%
Government agency securities 1.75%
95
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
Sensitivity of the Net Pension Liability to Changes in the Discount Rate
Pension Plan 1% Decrease
(5.25%) Discount
(6.25%)
1% Increase
(7.25%)
Public Employees’ Retirement Fund $ 20,807,422 $ 7,955,615 $ (2,764,492)
1977 Police Officers' and Firefighters'
Pension and Disability Fund 19,781,941 (19,193,872) (50,658,013)
Pension Plan 1% Decrease
(0.39%) Discount
(1.39%)
1% Increase
(2.39%)
1925 Police Officers' Pension Plan $ 84,098,582
$ 76,285,659 $ 69,620,502
1937 Firefighters' Pension Plan 64,399,359 58,274,687 53,072,837
Detailed Information
Public Employees’ Retirement Fund, and 1977 Police Officers' and Firefighters' Pension and
Disability Fund
Detailed information about the plan’s fiduciary net position is available in a separately issued
financial report:
https://www.in.gov/inprs/files/INPRSAnnualReportBook2021.pdfhttps://www.in.gov/inprs/files/INP
RSConsolidatedAR_FY20.pdf. The plan’s fiduciary net position has been determined on the same
basis used by the plan. The plan uses the economic resources measurement focus and the full
accrual basis of accounting. Investments are stated at fair value. Contribution revenue is recorded
as contributions are due, pursuant to legal requirements. Benefit payments and refunds of
employee contributions are recognized as expense when due and payable in accordance with the
benefit terms.
1925 Police Officers' Pension Plan
The financial statements of the plan are included in these financial statements as a pension and
other postemployment benefit trust fund. For the purpose of measuring the net pension liability,
deferred outflows of resources, and deferred inflows or resources related to pension and pension
expense, information about the plan’s fiduciary net position and addition to/deduction from fiduciary
net position have been determined on the same basis as they are report by the plan. The plan uses
the economic resources measurement focus and the full accrual basis of accounting. Investments
are stated at fair value. Contribution revenue is recorded as contributions are due, pursuant to legal
requirements. Benefit payments and refunds of employee contributions are recognized as expense
when due and payable in accordance with the benefit terms.
1937 Firefighters' Pension Plan
The financial statements of the plan are included in these financial statements as a pension and
other postemployment benefit trust fund. For the purpose of measuring the net pension liability,
deferred outflows of resources, and deferred inflows or resources related to pension and pension
expense, information about the plan’s fiduciary net position and addition to/deduction from fiduciary
net position have been determined on the same basis as they are report by the plan. The plan uses
the economic resources measurement focus and the full accrual basis of accounting. Investments
are stated at fair value. Contribution revenue is recorded as contributions are due, pursuant to legal
requirements. Benefit payments and refunds of employee contributions are recognized as expense
96
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
when due and payable in accordance with the benefit terms.
Assumption Changes
Public Employees’ Retirement Fund
There were several actuarial assumption changes in the Public Employees Retirement Fund that
impacted the net pension liability:
The future salary increase assumption changed from a service-based table ranging from
2.75% to 8.75% to a service-based table ranging from 2.65% to 8.65%.
Price inflation was lowered from 2.25% per year to 2.00% per year.
The investment return assumption was lowered from 6.75% to 6.25%.
1977 Police Officers' and Firefighters' Pension and Disability Fund
There were several actuarial assumption changes in the 1977 Police Officers’ and Firefighters’
Pension and Disability Fund that impacted the net pension liability:
The future salary increase assumptions changed from 2.75% per year to 2.65% per year.
Price inflation was lowered from 2.25% per year to 2.00% per year.
The investment return assumption was lowered from 6.75% to 6.25%.
1925 Police Officers' Pension Plan and 1937 Firefighters' Pension Plan
The following actuarial assumption changes occurred for the 1925 Police Officers and 1937
Firefighters pension plans since the Prior Measurement Date.
Discount rate: The discount rate used for the December 31, 2020 valuation was 1.39%, as
directed by INPRS, based on the Barclay’s 20-year Municipal Bond Index as of December
31, 2021. This is a decrease from the 1.49% used for the December 31, 2020 valuation.
The future salary increase assumptions changed from 2.75% per year to 2.65% per year
Price inflation was lowered from 2.25% per year to 2.00% per year
Investment Policy
The 1925 Police Officers' Pension Plan and the 1937 Firefighters' Pension plan’s policy
in regard to the allocation of invested assets is established and may be amended by
the pension board by a majority vote of its members.
It is the policy of the pension board to pursue an investment strategy that manages risk
through the prudent diversification of the portfolio across a broad selection of distinct asset
classes. The pension plan’s investment policy discourages the use of cash equivalents, except
for liquidity purposes, and aims to refrain from dramatically shifting asset class allocations
over short time spans.
The following was the pension board’s adopted asset allocation policy as of December 31, 2021:
Asset Class Allocation Target
Cash or cash equivalents 24%
Government agency securities 76%
97
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 18 – Pension Plans (Continued)
Rate of Return
For the year ended December 31, 2021, the annual money-weighted rate of return on
pension plan investments, net of pension plan investment expense, was 1.75%. The money-
weighted rate of return expresses investment performance, net of investment expense,
adjusted for the changing amounts actually invested.
The total aggregate amounts, for all City plans, of employer’s pension liability, deferred outflows
of resources, deferred inflows of resources and pension expenditures for the period associated
with net pension liabilities is as follows:
Net Pension Pension
Liability Expenses Deferred Deferred
Plan Description (Asset) (Income) Outflows Inflows
Public Employees' Retirement Fund $ 7,955,612 $ (552,644) $ 6,409,543 $ 12,498,569
1977 Police Officers and Firefighters
Pension and Disability Fund (19,193,872) (1,579,753) 18,228,591 31,546,966
1925 Police Officers' Pension Plan 76,285,659 1,092,598 13,572 -
1937 Firefighters' Pension Plan 58,274,687 108,498 7,540 -
Total Aggregate Amounts $ 123,322,086 $ (931,301) $ 24,659,246 $ 44,045,535
Note 19 – Pension Trust Funds
The following are condensed financial statements for the individual pension plans:
1925 Police
Pension 1937 Fire
Pension Total
Statement of Net Position
Cash and investments $ 559,209 $ 418,897 $ 978,106
Other assets 320 239 559
Liabilities - (2) (2)
Net position 559,529 419,134 978,663
Statement of Changes in Net Position:
Investment income (1,010) (773) (1,783)
Contributions 5,954,812 4,101,278 10,056,090
Benefit payments (5,936,871) (4,121,440) (10,058,311)
Administrative expenses (13,821) (14,960) (28,781)
Net change in net position $ 3,110 $ (35,895) $ (32,785)
Note 20 – Reporting Changes
In 2021, the City determined that the most appropriate accounting method for recognition of
property taxes levied before the end of a fiscal year (but not collectable until the subsequent fiscal
year) is to recognize a receivable and a deferred inflow of resources for the levied amount. This
change resulted in the City recognizing both property taxes receivable and deferred inflows as of
December 31, 2021, for the levied amount. This reporting change had no impact on net position,
change in net position, fund balance, or change in fund balance in any fund. This change in
accounting method is considered more appropriate with matching when the City believes they are
legally entitled to these imposed nonexchange revenues.
98
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2021
Note 21 – Closure and Post-closure Care Cost
As of January 1, 2008, the City of South Bend's Biosolids Lagoon #4 site has been closed. The
City is required to maintain the one-acre site by monitoring methane and groundwater and maintain
the site (mowing, cover inspection, gas collection system inspection, cover repair, ditch
maintenance, etc.). The closure and post-closure care costs are reported as operating expenses,
as incurred. For the year ending December 31, 2021, the total expenses incurred were $9,111. The
remaining expected liability relating to post-closure costs is estimated at less than $250,000 and
due to the minimal nature of these expenditures, is not included in the financial statements. This
estimate is subject to changes due to inflation or deflation, changes in technology, or changes in
applicable laws or regulations.
Note 22 – Tax Abatements
The City enters into property tax abatement agreements with local businesses and also for
qualifying residential construction under the City’s Municipal Code Chapter 2, Article 6, Tax
Abatements, created by Ordinance 7267-83. Under this Article, the City may grant property tax
abatements to a business located within or promising to relocate to the City for the purpose of
attracting or retaining the business and also for the purpose of encouraging residential construction
within economic development target areas. For the fiscal year ended December 31, 2020, the City
abated property taxes totaling $1,930,975 under this program. Two properties had property taxes
abated that exceeded 10% of the total amount. For these properties, the taxes abated were
$285,468 and $461,407, respectively.
99
Required Supplementary Information
100
City of South Bend, Indiana Required Supplementary Information 1925 Police Officers’ Pension Plan Schedule of Investment Returns Last Eight Fiscal Years Years Ended December 31 2021 2020 2019 2018 2017 2016 2015 2014 Annual money-weighted rate of return, net of investment expense 1.75% 1.75% 1.75% 1.75% 0.80% 1.00% 0.80% 0.60% Information is presented for the years available 101
City of South Bend, Indiana Required Supplementary Information 1925 Police Officers’ Pension Plan Schedule of Contributions Last Ten Fiscal Years Years Ended December 31 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 Actuarially determined contribution $ 5,936,871 $ 6,183,243 $ 6,363,550 $6,161,954 $6,119,059 $ 6,133,389 $6,073,049 $6,432,800 $6,633,200 $6,986,200 Contributions in relation to the actuarially determined contribution 5,947,193 6,045,313 6,107,782 6,220,658 6,204,179 6,364,236 6,323,645 6,116,195 5,837,216 6,776,614Contribution (Deficiency) Excess $ 10,322 $ (137,930) $ (255,768) $ 58,704 $ 85,120 $ 230,847 $ 250,596 $ (316,605) $ (795,984) $ (209,586)Covered Payroll $ - $ - $ - $ - $ - $ - $441,200 $441,200 $430,000 $421,800 Contributions as a Percentage of Covered Payroll 0.0% 0.0% 0.0% 0.0%0.0% 0.0% 1433.3% 1386.3% 1357.5% 1606.6% Notes to Schedule of Contributions Actuarial valuation information relative to the determination of contributions: Valuation date December 31, 2021 Methods and assumptions used to determine contribution rates: Actuarial cost method Entry age normal Amortization method Level percent of payroll Remaining amortization period 30 years Asset valuation method Not applicable. Benefits are funded on a pay-as-you-go basis Inflation 2.00% per year Salary increase 2.65% per year Investment rate of return 1.75% per year Retirement age Non-converted - any age with 20 or more years of creditable service; Converted - age 52 with 20 or more years of creditable service and no longer active Mortality Pub-2010 Public Retirement Plans Mortality Tables (Amount-Weighted) with a fully generational projection of mortality improvements using SOA Scale MP-2019 Other information Cost of living increases of 2.65% per year in retirement for non-converted and 1.95% per year for converted The following actuarial assumption changes occurred for the 1925 Police Officers pension plan since the Prior Measurement Date: Discount rate: The discount rate used for the December 31, 2021 valuation was 1.39%, as directed by INPRS, based on the Barclay’s 20-year Municipal Bond Index as of December 31, 2021. This is a decrease from the 1.49% used for the December 31, 2020 valuation. The future salary increase assumptions changed from 2.75% per year to 2.65% per year Price inflation was lowered from 2.25% per year to 2.00% per year. The cost-of-living adjustment for converted members was decreased from 2.10% per year to 1.90% in the valuation year and 1.95% in future years. The cost-of-living adjustment for non-converted members was decreased from 2.75% per year to 2.65% per year. 102
City of South Bend, Indiana Required Supplementary Information Schedule of Changes in the City Net Pension Liability and Related Ratios 1925 Police Officers’ Pension Plan Last Eight Fiscal Years Years Ended December 31 2021 2020 2019 2018 2017 2016 2015 2014 Total Pension Liability Service cost $ - $ 40,214 $ 84,969 $ 92,916 $ 78,812 $ 164,481 $ 184,104 $ 157,965 Interest 1,174,172 1,771,194 2,445,011 2,337,437 2,653,831 2,344,653 2,415,583 3,721,864 Experience (gains)/losses 139,773 (494,601) 278,613 2,284,134 995,949 396,259 (2,973,249) - Plan amendments - - 870,092 - - - - - Changes in assumptions (215,355) (371,926) 7,451,976 (2,697,730) 3,926,922 (5,617,308) (294,402) 12,487,771 Projected benefit payments (5,834,267) (5,946,093) (6,112,665) (6,146,696) (6,045,097) (5,977,290) (6,061,589) (6,122,870) Net Change in Total Pension Liability (4,735,677) (5,001,212) 5,017,996 (4,129,939) 1,610,417 (8,689,205) (6,729,553) 10,244,730 Total Pension Liability - Beginning of year 81,580,866 86,582,078 81,564,082 85,694,021 84,083,604 92,772,809 99,502,362 89,257,632 Total Pension Liability - End of year $76,845,189 $81,580,866 $86,582,078 $81,564,082 $85,694,021 $84,083,604 $92,772,809 $99,502,362 Plan Fiduciary Net Position Contributions - Other $ 4,119 $ - $ - $ - $ 13,544 $ 15,749 $ 62 $ 4,329 Contributions - Non-employer Entity 5,947,193 6,045,313 6,107,782 6,220,658 6,204,179 5,991,750 6,378,359 6,111,865 Net investment income (1,009) 3,076 18,102 15,219 6,557 6,713 4,376 3,759 Administrative expenses (10,321) (9,942) (10,304) (10,054) (13,577) (13,551) (12,462) (10,957) Benefit payments, including refunds (5,936,871) (6,183,243) (6,363,550) (6,161,954) (6,119,245) (6,364,236) (6,323,646) (6,705,815) Net Change in Plan Fiduciary Net Position 3,111 (144,796) (247,970) 63,869 91,458 (363,575) 46,689 (596,819) Plan Fiduciary Net Position - Beginning of year 556,419 701,215 949,185 885,316 793,858 1,157,433 1,110,743 1,707,562 Plan Fiduciary Net Position - End of year $559,530 $556,419 $701,215 $949,185 $885,316 $793,858 $1,157,432 $1,110,743 City's Net Pension Liability - Ending $76,285,659 $81,024,447 $85,880,863 $80,614,897 $84,808,705 $83,289,746 $91,615,377 $98,391,619 Plan Fiduciary Net Position as a % of Total Pension Liability 0.73% 0.68% 0.81% 1.16% 1.03% 0.94% 1.25% 1.12% Covered Payroll $ - $ - $ - $ - $ - $ - $ 441,200 $ 441,200 City's Net Pension Liability as a % of Covered Payroll - % - % - % - % - % - % 20765% 22301% Information is presented for the years available 103
City of South Bend, Indiana Required Supplementary Information 1937 Firefighters’ Pension Plan Schedule of Investment Returns Last Seven Fiscal Years Years Ended December 31 2021 2020 2019 2018 2017 2016 2015 2014 Annual money-weighted rate of return, net of investment expense 1.75% 1.75% 1.75% 1.75% 0.80% 1.00% 0.80% 0.60% Information is presented for the years available 104
City of South Bend, Indiana Required Supplementary Information 1937 Firefighters’ Pension Plan Schedule of Contributions Last Ten Fiscal Years Years Ended December 31 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 Actuarially determined contribution $4,121,440 $4,195,490 $4,439,496 $4,618,617 $4,727,592 $5,152,192 $4,977,042 $5,436,400 $5,550,900 $5,787,300 Contributions in relation to the actuarially determined contribution 4,097,779 4,320,033 4,462,993 4,472,469 4,920,712 5,165,758 5,197,158 5,130,581 5,051,319 5,208,570Contribution (Deficiency) Excess $(23,661) $124,543 $23,497 $(146,148) $193,120 $13,566 $220,116 $(305,819) $(499,581) $(578,730)Covered Payroll $- $- $- $- $- $- $328,600 $328,600 $319,300 $365,500 Contributions as a Percentage of Covered Payroll - % - % - % - % - % - % 1581.61% 1561.30% 1582.00% 1425.10% Notes to Schedule of Contributions Actuarial valuation information relative to the determination of contributions: Valuation date December 31, 2021 Methods and assumptions used to determine contribution rates: Actuarial cost method Entry age normal Amortization method Level percent of payroll Remaining amortization period 30 years Asset valuation method Not applicable. Benefits are funded on a pay-as-you-go basis Inflation 2.00% per year Salary increase 2.65% per year Investment rate of return 1.75% per year Retirement age Non-converted - any age with 20 or more years of creditable service; Converted - age 52 with 20 or more years of creditable service and no longer active Mortality Pub-2010 Public Retirement Plans Mortality Tables (Amount-Weighted) with a fully generational projection of mortality improvements using SOA Scale MP-2019 Other information Cost of living increases of 2.65% per year in retirement for non-converted and 1.95% per year for converted The following actuarial assumption changes occurred for the 1937 Firefighters pension plan since the Prior Measurement Date: Discount rate: The discount rate used for the December 31, 2021 valuation was 1.39%, as directed by INPRS, based on the Barclay’s 20-year Municipal Bond Index as of December 31, 2021. This is a decrease from the 1.49% used for the December 31, 2020 valuation. The future salary increase assumptions changed from 2.75% per year to 2.65% per year Price inflation was lowered from 2.25% per year to 2.00% per year. The cost-of-living adjustment for converted members was decreased from 2.10% per year to 1.90% in the valuation year and 1.95% in future years. The cost-of-living adjustment for non-converted members was decreased from 2.75% per year to 2.65% per year. 105
City of South Bend, Indiana Required Supplementary Information Schedule of Changes in the City Net Pension Liability and Related Ratios 1937 Firefighters’ Pension Plan Last Eight Fiscal Years Years Ended December 31 2021 2020 2019 2018 2017 2016 2015 2014 Total Pension Liability Service cost $ - $49,137 $62,978 $98,529 $81,717 $163,162 $155,487 $114,297 Interest 895,656 1,362,747 1,865,607 1,815,032 2,124,050 1,940,826 2,020,796 3,155,669 Experience (gains)/losses (562,790) (457,133) (1,096,354) (482,208) (1,611,010) (262,337) (2,816,692) - Plan amendments - - 941,442 - - - - - Changes in assumptions (218,152) (422,909) 5,758,955 (2,105,211) 3,179,702 (4,645,609) (245,887) 9,620,657 Projected benefit payments (4,189,691) (4,299,517) (4,420,816) (4,572,612) (4,727,592) (4,980,991) (5,094,762) (5,206,870) Net Change in Total Pension Liability (4,074,977) (3,767,675) 3,111,812 (5,246,470) (953,133) (7,784,949) (5,981,058) 7,683,753 Total Pension Liability - Beginning of year 62,768,798 66,536,473 63,424,661 68,671,131 69,624,264 77,409,213 83,390,271 75,706,518 Total Pension Liability - End of year $58,693,821 $62,768,798 $66,536,473 $63,424,661 $68,671,131 $69,624,264 $77,409,213 $83,390,271 Plan Fiduciary Net Position Contributions - Other $- $- $- $- $4,251 $6,279 $2,667 $1,484 Contributions - Non-employer Entity 4,097,779 4,320,033 4,462,993 4,472,469 4,920,712 4,866,271 5,039,025 5,129,098 Net investment income (774) 2,579 9,432 7,596 3,352 2,852 2,675 1,963 Administrative expenses (11,458) (10,265) (10,309) (12,154) (14,771) (14,485) (14,255) (10,920) Benefit payments, including refunds (4,121,440) (4,195,490) (4,439,496) (4,618,617) (4,614,480) (5,165,758) (5,197,159) (5,407,429) Net Change in Plan Fiduciary Net Position (35,893) 116,857 22,620 (150,706) 299,064 (304,841) (167,047) (285,804) Plan Fiduciary Net Position - Beginning of year 455,029 338,172 315,552 466,258 167,194 472,035 639,081 924,885 Plan Fiduciary Net Position - End of year $419,136 $455,029 $338,172 $315,552 $466,258 $167,194 $472,034 $639,081 City's Net Pension Liability - Ending $58,274,685 $62,313,769 $66,198,301 $63,109,109 $68,204,873 $69,457,070 $76,937,179 $82,751,190 Plan Fiduciary Net Position as a % of Total Pension Liability 0.71% 0.72% 0.51% 0.50% 0.68% 0.24% 0.61% 0.77% Covered Payroll $- $- $- $- $- $- $328,600 $328,600 City's Net Pension Liability as a % of Covered Payroll - % - % - % - % - % - % 23414% 25183% Information is presented for the years available 106
City of South Bend, Indiana Required Supplementary Information Schedule of City Contributions Public Employees’ Retirement Fund Last Seven Fiscal Years Years Ended June 30 2021 2020 2019 2018 2017 2016 2015 Actuarially determined contribution $ 3,578,344 $ 3,621,367 $ 3,523,406 $ 3,385,879 $ 3,320,567 $ 3,037,666 $ 2,982,234 Contributions in relation to the actuarially determined contributions 3,578,344 3,621,367 3,523,406 3,385,879 3,320,567 3,037,666 2,982,234 Contribution Excess (Deficiency) $ - $ - $ - $ - $ - $ - $ -Covered Payroll $ 32,493,524 $ 32,664,657 $ 32,020,965 $ 30,503,247 $ 29,647,920 $ 27,389,875 $ 26,681,229 Contributions as a Percentage of Covered Payroll 11.0% 11.1% 11.0% 11.1% 11.2%11.2%11.2% Information is presented for the years available Contributions in relation to the actuarially determined contributions and covered payroll are reported as of the City’s calendar year-end (December 31). Notes to Schedule of Contributions Actuarial valuation information relative to the determination of contributions: Valuation date June 30, 2021 Methods and assumptions used to determine contribution rates: Actuarial cost method Entry age normal Amortization method Level percent of payroll Actuarial Amortization Period for Unfunded Liability 20 years, closed Remaining amortization period 24 years Asset valuation method Actuarial Value of Assets is equal to a five-year smoothing of gains and losses on the Fair Value of Assets subject to a 20% corridor Inflation 2.00% per year Salary increase 2.65% to 8.65% per year Investment rate of return 6.25% per year, includes inflation and net of administrative and investment expenses Retirement age Normal retirement ages are age 65 and 10 years (eight years for certain elected officials) of creditable service, age 60 and 15 years of creditable service, and age 55 if age and creditable service total at least 85 with early retirement at 50 with 15 years of service Mortality Pub-2010 Public Retirement Plans Mortality Tables (Amount-Weighted) with a fully generational projection of mortality improvements using SOA Scale MP-2019 Other information The following COLAs, compounded annually, were assumed: 1.00% beginning on January 1, 2022, 0.40% beginning on January 1, 2024; 0.50% beginning on January 1, 2034; 0.60% beginning on January 1, 2039 There were several actuarial assumption changes in the Public Employees Retirement Fund since the Prior Measurement Date: The future salary increase assumption changed from a service-based table ranging from 2.75% to 8.75% to a service-based table ranging from 2.65% to 8.65%. Price inflation was lowered from 2.25% per year to 2.00% per year. The investment return assumption was lowered from 6.75% to 6.25%. Cost of Living adjustment assumption was changed from 0.4% in 2022 and 2023 to 1.0% annually in 2022 and 2023. Thereafter, the following COLAs, compounded annually, are assumed: 0.4% beginning on January 1, 2024, 0.5% beginning on January 1, 2034, and 0.6% beginning on January 1, 2039.107
City of South Bend, Indiana Required Supplementary Information Schedule of the City’s Proportionate Share of the Net Pension Liability Public Employees’ Retirement Fund Last Eight Fiscal Years Years Ended June 30 2021 2020 2019 2018 2017 2016 2015 2014 City's proportion of the net pension liability (asset) 0.60460% 0.59296% 0.59232% 0.58323% 0.57988% 0.54700% 0.55700% 0.56300% City's proportionate share of the net pension liability (asset) $7,955,615 $ 17,909,730 $ 19,576,553 $ 19,812,587 $ 25,871,598 $ 24,845,715 $ 22,687,694 $ 14,807,363 City's Covered Payroll $33,334,366 $ 32,011,410 $ 30,860,389 $ 29,759,859 $ 28,768,543 $ 26,237,016 $ 26,691,229 $ 27,509,916 City's Proportionate Share of the Net pension Liability (Asset) as a Percentage of its Covered Payroll 23.87% 55.95% 63.44% 66.57% 89.93% 94.70% 85.00% 53.83% Plan Fiduciary Net Position as a Percentage of Total Pension Liability 92.5% 81.4% 80.1% 78.9% 76.6% 75.3% 77.3% 84.3% Information is presented for the years available 108
City of South Bend, Indiana Required Supplementary Information Schedule of City Contributions 1977 Police Officers' Pension and Disability Fund Last Seven Fiscal Years Years Ended June 30 2021 2020 2019 2018 2017 2016 2015 Actuarially determined contribution $ 2,638,916 $ 2,499,056 $ 2,528,512 $ 2,479,908 $ 2,394,421 $ 2,715,555 $ 2,625,418 Contributions in relation to the actuarially determined contributions 2,638,916 2,499,056 2,528,512 2,479,908 2,394,421 2,715,555 2,625,418 Contribution Excess (Deficiency) $ - $ - $ - $ - $ - $ - $ -Covered Payroll $ 15,079,522 $ 14,280,320 $ 14,448,643 $ 14,170,905 $ 12,873,232 $ 13,784,545 $ 13,327,077 Contributions as a Percentage of Covered Payroll 17.5% 17.5% 17.5% 17.5% 18.6%19.7%19.7% Information is presented for the years available Contributions in relation to the actuarially determined contributions and covered payroll are reported as of the City’s calendar year-end (December 31). Notes to Schedule of Contributions Actuarial valuation information relative to the determination of contributions: Valuation date June 30, 2021 Methods and assumptions used to determine contribution rates: Actuarial cost method Entry age normal Amortization method Level percent of payroll Actuarial Amortization Period for Unfunded Liability 30 years, open Remaining amortization period 30 years, open Asset valuation method Actuarial Value of Assets is equal to a five-year smoothing of gains and losses on the Market Value of Assets subject to a 20% corridor Inflation 2.00% per year Salary increase 2.65% per year Investment rate of return 6.25% per year, includes inflation and net of administrative and investment expenses Retirement age Normal retirement is age 52 with 20 years of service; early retirement is age 50 with 20 years of service (reduced benefit) Mortality Pub-2010 Public Retirement Plans Mortality Tables (Amount-Weighted) with a fully generational projection of mortality improvements using SOA Scale MP-2019 Other information Assumed Cost of Living Adjustment (COLA): 1.95% annually There were several actuarial assumption changes in the 1977 Police Officers’ and Firefighters’ Pension and Disability Fund since the Prior Measurement Date: The future salary increase assumptions changed from 2.75% per year to 2.65% per year. Price inflation was lowered from 2.25% per year to 2.00% per year. The investment return assumption was lowered from 6.75% to 6.25%. Cost of Living Adjustments were lowered from 2.10% annually to 1.95% annually. For benefits paid under the 2017 House Enrolled Act No. 1617, the annual cost-of-living-assumption was lowered from 2.75% to 2.65%. 109
City of South Bend, Indiana Required Supplementary Information Schedule of the City’s Proportionate Share of the Net Pension Liability 1977 Police Officers' Pension and Disability Fund Last Eight Fiscal Years Years Ended June 30 2021 2020 2019 2018 2017 2016 2015 2014 City's proportion of the net pension liability (asset) 1.55846% 1.54916% 1.62738% 1.6501% 1.72294% 1.75600% 1.78700% 1.82900% City's proportionate share of the net pension liability (asset) $(9,210,737) $3,761,481 $149,979 $(1,450,622) $(265,770) $1,559,932 $(2,640,039) $(932,236) City's Covered Payroll $14,796,362 $14,365,200 $14,385,011 $13,896,923 $13,968,031 $13,571,531 $13,327,077 $12,981,067 City's Proportionate Share of the Net pension Liability (Asset) as a Percentage of its Covered Payroll -62.25% 26.18% 1.04% -10.44% -1.90% 11.49% (19.8)% (7.2)% Plan Fiduciary Net Position as a Percentage of Total Pension Liability 107.80% 96.40% 99.90% 101.50% 100.3% 98.2% 103.2% 101.1% Information is presented for the years available 110
City of South Bend, Indiana Required Supplementary Information Schedule of City Contributions 1977 Firefighters’ Pension and Disability Fund Last Seven Fiscal Years Years Ended June 30 2021 2020 2019 2018 2017 2016 2015 Actuarially determined contribution $ 2,799,560 $ 2,795,379 $ 2,730,295 $ 2,690,987 $ 2,556,604 $ 2,717,624 $ 2,666,116 Contributions in relation to the actuarially determined contributions 2,799,560 2,795,379 2,730,295 2,690,987 2,556,604 2,717,624 2,666,116 Contribution Excess (Deficiency) $ - $ - $ - $ - $ - $ - $ -Covered Payroll 15,997,482 $ 15,973,594 $ 15,601,683 $ 15,377,071 $ 13,745,183 $ 13,795,047 $ 13,533,745 Contributions as a Percentage of Covered Payroll 17.50% 17.50% 17.50%17.50% 18.60% 19.70% 19.70% Information is presented for the years available Contributions in relation to the actuarially determined contributions and covered payroll are reported as of the City’s calendar year-end (December 31). Notes to Schedule of Contributions Actuarial valuation information relative to the determination of contributions: Valuation date June 30, 2021 Methods and assumptions used to determine contribution rates: Actuarial cost method Entry age normal Amortization method Level percent of payroll Actuarial Amortization Period for Unfunded Liability 30 years, open Remaining amortization period 30 years, open Asset valuation method Actuarial Value of Assets is equal to a five-year smoothing of gains and losses on the Market Value of Assets subject to a 20% corridor Inflation 2.00% per year Salary increase 2.65% per year Investment rate of return 6.25% per year, includes inflation and net of administrative and investment expenses Retirement age Normal retirement is age 52 with 20 years of service; early retirement is age 50 with 20 years of service (reduced benefit) Mortality Pub-2010 Public Retirement Plans Mortality Tables (Amount-Weighted) with a fully generational projection of mortality improvements using SOA Scale MP-2019 Other information Assumed Cost of Living Adjustment (COLA): 1.95% annually There were several actuarial assumption changes in the 1977 Police Officers’ and Firefighters’ Pension and Disability Fund since the Prior Measurement Date: The future salary increase assumptions changed from 2.75% per year to 2.65% per year. Price inflation was lowered from 2.25% per year to 2.00% per year. The investment return assumption was lowered from 6.75% to 6.25%. Cost of Living Adjustments were lowered from 2.10% annually to 1.95% annually. For benefits paid under the 2017 House Enrolled Act No. 1617, the annual cost-of-living-assumption was lowered from 2.75% to 2.65%. 111
City of South Bend, Indiana Required Supplementary Information Schedule of the City’s Proportionate Share of the Net Pension Liability 1977 Firefighters’ Pension and Disability Fund Last Eight Fiscal Years Years Ended June 30 2021 2020 2019 2018 2017 2016 2015 2014 City's proportion of the net pension liability (asset) 1.68915% 1.70153% 1.75457% 1.78736% 1.77600% 1.75800% 1.81500% 1.79500% City's proportionate share of the net pension liability (asset) $(9,983,135) $ 4,131,447 $ 161,701 $(1,571,289) $ (273,955) $ 1,561,833 $(2,680,987) $ (915,265) City's Covered Payroll $16,037,134 $15,778,121 $15,509,357 $15,052,876 $14,398,217 $13,588,032 $13,533,745 $12,744,754 City's Proportionate Share of the Net pension Liability (Asset) as a Percentage of its Covered Payroll -62.25% 26.18% 1.04% -10.44% -1.90% 11.49% (19.8)% (7.2)% Plan Fiduciary Net Position as a Percentage of Total Pension Liability 107.80% 96.40% 99.90% 101.50% 100.3% 98.2% 103.2% 101.1% Information is presented for the years available 112
City of South Bend, Indiana Required Supplementary Information Schedule of Changes in the City's Total OPEB Liability and Related Ratios Last Four Fiscal Years Years Ended December 31 Information is presented for the years available 2021 2020 2019 2018 Total OPEB liability Service Cost $ 1,473,053 $ 1,072,669 $ 1,049,065 $ 1,489,465 Interest 620,338 1,032,011 981,132 1,026,964 Difference between expected and actual experience (2,190,115) (2,677,265) - 1,503,991 Changes of assumptions or other inputs (307,148) 5,155,786 - (8,795,897) Benefit payments (801,646) (858,114) (774,470) (758,730) Net change in total OPEB liability (1,205,518) 3,725,087 1,255,727 (5,534,207) Total OPEB Liability - beginning 28,186,901 24,461,814 23,206,087 28,740,294 Total OPEB Liability - ending $ 26,981,383 $ 28,186,901 $ 24,461,814 $ 23,206,087 Plan fiduciary net position - ending $ - $ - $ - $ - Net OPEB Liability - ending $ 26,981,383 $ 28,186,901 $ 24,461,814 $ 23,206,087 Plan fiduciary net position as % of total OPEB liability 0% 0% 0% 0% Covered-Employee Payroll $ 62,327,863 $ 62,222,358 $ 60,754,757 $ 58,876,762 Net OPEB liability as a % of covered payroll 43.3% 45.3% 40.3% 39.4% 113
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
General Fund
December 31, 2021
General Fund
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 39,300,913$ 43,659,873$ 43,659,873$ -$
Licenses and permits 265,025 266,391 258,054 (8,337)
Intergovernmental 4,150,990 5,763,850 5,763,850 -
Charges for services 4,713,599 5,274,560 5,286,199 11,639
Fines and forfeitures 8,525 9,075 6,235 (2,840)
Investment income 695,632 354,688 354,688 -
Other 12,778,274 12,827,655 12,873,490 45,835
Total revenues 61,912,958 68,156,092 68,202,389 46,297
Expenditures:
Current:
General government:
Mayor:
Personnel services 1,105,948 1,195,178 1,119,782 75,396
Supplies 850 4,350 3,888 462
Other services and charges 1,190,568 854,835 751,144 103,691
City Clerk:
Personnel services 431,957 427,957 402,642 25,315
Supplies 4,700 8,700 8,089 611
Other services and charges 232,182 232,182 222,982 9,200
Common Council:
Personnel services 370,301 370,301 277,497 92,804
Supplies 5,000 5,000 1,894 3,106
Other services and charges 362,620 361,990 314,429 47,561
Administration/Finance:
Personnel services 3,233,767 3,233,767 2,796,454 437,313
Supplies 20,075 19,804 13,423 6,381
Other services and charges 972,039 888,327 837,826 50,501
Legal Department:
Personnel services 1,341,627 1,321,627 1,186,938 134,689
Supplies 3,550 3,550 1,515 2,035
Other services and charges 213,989 233,989 211,041 22,948
Total general government 9,489,173 9,161,557 8,149,544 1,012,013
Public safety:
Police Department:
Personnel services 22,727,606 22,787,606 22,563,899 223,707
Supplies 1,226,129 1,067,829 970,712 97,117
Other services and charges 7,556,795 7,491,355 7,125,544 365,811
Fire Department:
Personnel services 21,805,214 21,905,214 21,752,544 152,670
Supplies 1,055,601 1,042,098 992,977 49,121
Other services and charges 4,656,363 4,518,762 4,371,332 147,430
Total public safety 59,027,708 58,812,864 57,777,008 1,035,856
114
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
General Fund (Continuted)
December 31, 2021
General Fund
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Highways and streets:
Engineering:
Personnel services 2,462,057 2,462,057 2,324,174 137,883
Supplies 22,700 21,989 7,128 14,861
Other services and charges 1,031,827 895,285 792,190 103,095
Office of Sustainability:
Personnel services 434,685 384,685 255,290 129,395
Supplies 32,188 32,188 3,436 28,752
Other services and charges 191,087 139,629 54,378 85,251
Total highways and streets 4,174,544 3,935,833 3,436,596 499,237
Culture and recreation:
Morris Performing Arts Center:
Personnel services 770,857 770,857 631,239 139,618
Supplies 25,200 32,765 29,271 3,494
Other services and charges 592,516 527,989 445,793 82,196
Palais Royale Ballroom:
Supplies 5,000 5,000 1,626 3,374
Other services and charges 220,756 200,003 147,921 52,082
Total culture and recreation 1,614,329 1,536,614 1,255,850 280,764
Total expenditures 74,305,754 73,446,868 70,618,998 2,827,870
Other Financing Sources (Uses):
Transfers in 8,981,536 8,881,400 8,881,400 -
Transfers out - (5,000,000) (4,948,093) 51,907
Net change in fund balances (3,411,260) (1,409,376) 1,516,698 2,926,074
Fund balances - Beginning 53,544,921 53,544,921 53,544,921 -
Fund balances - Ending 50,133,661$ 52,135,545$ 55,061,619$ 2,926,074$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 1,516,698$
To adjust revenues for accruals 9,736,334
To adjust expenditures for accruals (9,760,189)
Net change in fund balance, GAAP basis 1,492,843$
115
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
Major Special Revenue Funds
Parks and Recreation Fund
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 9,247,389$ 10,271,000$ 10,271,000$ -$
Licenses and permits - 201 253 52
Intergovernmental 906,694 1,111,439 1,111,437 (2)
Charges for services 2,881,450 2,892,612 2,922,965 30,353
Fines and forfeitures - - 12 12
Investment income 40,000 20,758 20,758 -
Other 740,000 1,016,768 1,027,784 11,016
Total revenues 13,815,533 15,312,778 15,354,209 41,431
Expenditures:
Current:
Culture and recreation:
Personnel services 7,848,444 8,166,313 7,837,623 328,690
Supplies 1,600,315 1,569,530 1,372,042 197,488
Other services and charges 5,383,225 5,693,497 5,289,823 403,674
Capital outlay 472,913 482,338 474,790 7,548
Total expenditures 15,304,897 15,911,678 14,974,278 937,400
Other Financing Sources (Uses):
Proceeds from sale of capital assets - 17,250 17,250 -
Transfers in 1,234,486 1,232,541 1,232,541 -
Net change in fund balances (254,878) 650,891 1,629,722 978,831
Fund balances - Beginning 4,156,004 4,156,004 4,156,004 -
Fund balances - Ending 3,901,126$ 4,806,895$ 5,785,726$ 978,831$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 1,629,722$
To adjust revenues for accruals (28,566)
To adjust expenditures for accruals (48,280)
Net change in fund balance, GAAP basis 1,552,876$
116
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
Major Special Revenue Funds (Continued)
Local Income Tax-Public Safety Fund
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - local income tax 7,999,276$ 9,391,746$ 9,391,746$ -$
Investment income 32,640 32,640 25,015 (7,625)
Total revenues 8,031,916 9,424,386 9,416,761 (7,625)
Expenditures:
Current:
Public safey:
Personnel services 9,618,013 9,618,013 9,618,013 -
Total expenditures 9,618,013 9,618,013 9,618,013 -
Net change in fund balances (1,586,097) (193,627) (201,252) (7,625)
Fund balances - Beginning 4,045,717 4,045,717 4,045,717 -
Fund balances - Ending 2,459,620$ 3,852,090$ 3,844,465$ (7,625)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (201,252)$
To adjust revenues for accruals (23,271)
To adjust expenditures for accruals (227,111)
Net change in fund balance, GAAP basis (451,634)$
117
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
Major Special Revenue Funds (Continued)
Local Income Tax-Certified Shares Fund
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - local income tax 11,378,106$ 13,334,937$ 13,334,937$ -$
Investment income 147,313 87,113 87,126 13
Other 24,000 102,996 147,178 44,182
Total revenues 11,549,419 13,525,046 13,569,241 44,195
Expenditures:
Current:
General government:
Supplies 320,832 185,908 145,595 40,313
Other services and charges 7,487,083 6,182,413 5,148,199 1,034,214
Capital outlay 1,708,085 131,654 123,519 8,135
Total expenditures 9,516,000 6,499,975 5,417,313 1,082,662
Other Financing Sources (Uses):
Debt proceeds - 1,598,000 1,598,000 -
Proceeds from sale of capital assets - 99,820 99,820 -
Transfers in - 147,786 147,786 -
Transfers out (5,420,396) (7,770,396) (6,270,396) 1,500,000
Net change in fund balances (3,386,977) 1,100,281 3,727,138 2,626,857
Fund balances - Beginning 14,902,237 14,902,237 14,902,237 -
Fund balances - Ending 11,515,260$ 16,002,518$ 18,629,375$ 2,626,857$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 3,727,138$
To adjust revenues for accruals (107,957)
To adjust expenditures for accruals (316,788)
Net change in fund balance, GAAP basis 3,302,393$
118
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
Major Special Revenue Funds (Continued)
Local Income Tax-Economic Development Fund
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - local income tax 11,040,237$ 13,006,489$ 13,006,489$ -$
Intergovernmental 50,000 50,000 - (50,000)
Investment income 197,890 128,951 128,951 -
Other 150,000 150,000 151,545 1,545
Total revenues 11,438,127 13,335,440 13,286,985 (48,455)
Expenditures:
Current:
General government:
Other services and charges 10,323,781 5,553,773 4,799,629 754,144
Capital outlay 296,399 417,117 112,229 304,888
Total expenditures 10,620,180 5,970,890 4,911,858 1,059,032
Other Financing Sources (Uses):
Transfers in 950,000 1,000,000 1,000,000 -
Transfers out (6,062,780) (6,165,780) (3,468,986) 2,696,794
Net change in fund balances (4,294,833) 2,198,770 5,906,141 3,707,371
Fund balances - Beginning 19,044,274 19,044,274 19,044,274 -
Fund balances - Ending 14,749,441$ 21,243,044$ 24,950,415$ 3,707,371$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 5,906,141$
To adjust revenues for accruals (126,183)
To adjust expenditures for accruals (387,983)
Net change in fund balance, GAAP basis 5,391,975$
119
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
Major Special Revenue Funds (Continued)
American Rescue Plan
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ 29,455,024$ 29,455,024$ -$
Investment income - 81,618 81,618 -
Total revenues - 29,536,642 29,536,642 -
Net change in fund balances - 29,536,642 29,536,642 -
Fund balances - Beginning - - - -
Fund balances - Ending -$ 29,536,642$ 29,536,642$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 29,536,642$
To adjust revenues for accruals (73,369)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 29,463,273$
120
City of South Bend, IndianaRequired Supplementary InformationBudget/GAAP ReconciliationGeneral Fund and Major Special Revenue FundsDecember 31, 2021The major difference between budgetary (Non-GAAP) basis and GAAP basis are as follows:a. Revenues are recorded when received in cash (budgetary) as opposed to susceptible to accrual (GAAP).b. Expenditures are recorded when paid in cash (budgetary) as opposed to when the liability is incurred (GAAP).Adjustments necessary to convert the results of operations at the end of the year on a budgetary basis to a GAAP basis are as follows:Local Income TaxParks and Local Income Tax Local Income Tax EconomicAmericanGeneralRecreationPublic SafetyCertified SharesDevelopmentRescue PlanNet change in fund balances (budgetary basis)1,516,698$ 1,629,722$ (201,252)$ 3,727,138$ 5,906,141$ 29,536,642$ Adjustments:To adjust revenues for accruals9,736,334 (28,566) (23,271) (107,957) (126,183) (73,369) To adjust expenditures for accruals(9,760,189) (48,280) (227,111) (316,788) (387,983) - Net change in fund balances (GAAP basis) 1,492,843$ 1,552,876$ (451,634)$ 3,302,393$ 5,391,975$ 29,463,273$ 121
City of South Bend, Indiana
Notes to Required Supplementary Information
Note 1 – Budgets and Budgetary Accounting
The City follows these procedures in establishing the budgetary data reflected in the budgetary
comparison schedules:
A. After conferring with the Common Council President and several department heads, the
City Controller submits to the Common Council a proposed operating budget for the fiscal
year commencing the following January 1. The operating budget includes proposed
expenditures and the means of financing them.
B. Prior to adoption, the City advertises the budget and the Common Council holds public
hearings to obtain taxpayer comments. The Common Council may reduce, but not
increase, the budget from the advertised amounts.
C. No later than November 1 of each year, the budget for the next year is approved by the
Common Council through the passage of an ordinance.
D. Copies of the budget ordinance and advertisements for funds for which property taxes are
levied or highway use taxes are received are sent to the Indiana Department of Local
Government Finance for their review and approval. The budget becomes legally enacted
after the City Controller receives approval from the Indiana Department of Local
Government Finance. This approval is required by Indiana statute and ad valorem property
tax rates are to be set by December 31 prior to the year budgeted. The budget ordinance
as approved by the Indiana Department of Local Government Finance becomes the City's
expenditures budget. The City's maximum tax levy is restricted by Indiana law, with certain
adjustments and exceptions. If the advertised budget, for funds for which property taxes
are levied or for which highway use taxes are received, exceeds the spending and tax limits
of the state control laws, an excess levy can be granted by the Indiana Department of Local
Government Finance, upon appeal by the City.
E. The legal level of budgetary control (the level at which expenditures may not exceed
appropriations without the governing body’s approval) is by fund, department, division, and
cost classification for all funds. The City’s management cannot transfer budgeted
appropriations between cost classifications of a budget without approval of the Common
Council. Any revisions that alter the total appropriations for any fund or any department of
the General Fund must be approved by the Common Council and, in some instances, by
the Indiana Department of Local Government Finance. Formal budgetary integration is
required by state statute and is employed as a management control method.
F. Formal budgetary integration is required by State statute and is employed as a
management control device. An annual budget was legally adopted for the following funds:
Major governmental funds:
General Fund
Special Revenue Funds - Park and Recreation, Local Income Tax-Public Safety,
Local Income Tax-Certified Shares, Local Income Tax-Economic Development,
American Rescue Plan
Capital Projects Fund - River West TIF
122
City of South Bend, Indiana
Notes to Required Supplementary Information
Note 1 – Budgets and Budgetary Accounting (Continued)
Nonmajor governmental funds:
Special Revenue Funds - Motor Vehicle Highway, Studebaker Oliver Revitalization
Grants, Economic Development State Grants, DCI Operating, DCI Federal Grants,
Police State Seizure, Gift Donation Bequest, Police Curfew Violation, Unsafe Building,
Law Enforcement Continuing Education, Rental Units Regulation, Loss Recovery
Fund, Code Enforcement, Local Road and Street, LOIT 2016 Special Distribution,
Human Rights Federal Grants, COVID-19 Response, Local Road and Bridge Grant,
MVH Restricted, Morris and Palais Marketing, Morris PAC Self Promoted Events,
Police Block Grants, Hazmat, Indiana River Rescue, Police Grants, Regional Police
Academy, COPS MORE Grant, Federal Drug Enforcement, Urban Development
Action Grant, Leaf Collection and Removal, Police K-9 Unit, Morris/Palais Box Office,
City Cemetery, Bowman Cemetery, Industrial Revolving Fund.
Debt Service Funds - 2003 Redevelopment Bond - Airport Taxable,
2003 Redevelopment Bond - Palais Royale, 2015 Smart Streets Bond Debt Service,
2015 Park Bond Debt Service, 2017 Park Bond Debt Service, 2017 Eddy St. Commons
Bond Debt Service, 2018 Fire Station #9 Bond Debt Service, 2018 TIF Park Bond Debt
Service Reserve, 2019 South Shore Double Tracking Bond Debt Service, 2020 TIF
Library Bond Debt Service Reserve, Century Center Energy Conservation Debt
Service, Redevelopment Authority Debt Service, South Bend Building Corporation
Debt Service
Capital Projects Funds – Fire Department Capital, Coveleski Stadium Capital,
Cumulative Capital Development, Cumulative Capital Improvement, Major Moves,
Professional Sports Convention Development Area, Morris Performing Arts Center
Capital, Redevelopment General, TIF West Washington, TIF River East Development,
TIF Southside Development Area No. 1, TIF Douglas Road, TIF River East
Residential, Certified Technology Park, Palais Royale Historic Preservation, Airport
Urban Enterprise Zone, Equipment Vehicle Leasing, 2017 Park Bond Capital,
2017 Eddy St. Commons Bond Capital, 2018 Fire Station #9 Bond Capital, 2018 TIF
Park Bond Capital, 2021 Infrastructure Bond Capital
G. The City's budgetary process is based upon cash outflows, which is a non-GAAP basis.
Appropriations lapse with the expiration of the budgetary period unless encumbered by a
purchase order or contract. Encumbered appropriations are carried over and added to the
subsequent year's budget.
H. Budgeted amounts are as originally adopted, or as amended by the Common Council and
approved by the Indiana Department of Local Government Finance in the regular legal
manner. The net effect of individual amendments to the budget increased the original
appropriations by $111,182,149 in 2021 for the funds listed above.
I. Expenditures did not exceed appropriations for any funds or any departments within any
major or nonmajor governmental fund which required legally approved budgets.
123
Other Supplemental Information
124
City of South Bend, Indiana
Other Supplementary Information
Combining Balance Sheet
General Fund
December 31, 2021
Total
General Fund Rainy Day General Fund
Assets
Cash and cash equivalents 22,635,492$ 4,498,401$ 27,133,893$
Investments 31,661,788 6,378,360 38,040,148
Receivables:
Accounts 1,643,630 - 1,643,630
Interest 30,856 6,216 37,072
Property taxes 43,277,295 - 43,277,295
Total assets 99,249,061$ 10,882,977$ 110,132,038$
Liabilities
Accounts payable 253,346$ -$ 253,346$
Due to other funds 9,614 - 9,614
Due to other governments 107,398 - 107,398
Performance deposits payable 68,950 - 68,950
Accrued liabilities and other:
Accrued payroll payable 1,256,719 - 1,256,719
Taxes payable 153,163 - 153,163
Other current payables 211,628 - 211,628
Total liabilities 2,060,818 - 2,060,818
Deferred inflows of resources
- unavailable revenue
EMS Medicaid receivable 1,392,294 - 1,392,294
Property taxes receivable 43,277,295 - 43,277,295
Total deferred inflows of resources 44,669,589 - 44,669,589
Fund balances
Unassigned 52,518,654 10,882,977 63,401,631
Total fund balances 52,518,654 10,882,977 63,401,631
Total liabilities, deferred inflows
of resources, and fund balances 99,249,061$ 10,882,977$ 110,132,038$
See Notes to Financial Statements 125
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances
General Fund
For the Year Ended December 31, 2021
Total
General Fund Rainy Day General Fund
Revenues
Property taxes 43,659,873$ -$ 43,659,873$
Licenses and permits 258,054 - 258,054
Intergovernmental 15,815,822 - 15,815,822
Charges for services 5,286,199 - 5,286,199
Fines and forfeitures 6,235 - 6,235
Investment income (loss) (25,361) 205 (25,156)
Other 12,937,697 - 12,937,697
Total revenues 77,938,519 205 77,938,724
Expenditures
Current:
General government 8,460,476 - 8,460,476
Public safety 67,430,055 - 67,430,055
Highways and streets 3,087,510 - 3,087,510
Culture and recreation 1,230,452 - 1,230,452
Capital outlay:
Highways and streets 23,229 - 23,229
Debt service:
Principal 145,798 - 145,798
Interest on long-term debt 1,667 - 1,667
Total expenditures 80,379,187 - 80,379,187
Excess of revenues (under) over expenditures (2,440,668) 205 (2,440,463)
Other financing sources (uses)
Transfers in 8,881,400 - 8,881,400
Transfers out (4,948,094) - (4,948,094)
Total other financing sources (uses)3,933,306 - 3,933,306
Net change in fund balances 1,492,638 205 1,492,843
Fund balances - Beginning of year 51,026,016 10,882,772 61,908,788
Fund balances - End of year 52,518,654$ 10,882,977$ 63,401,631$
See Notes to Financial Statements 126
City of South Bend, Indiana
Other Supplemental Information
Nonmajor Governmental Funds
Fund Descriptions
SPECIAL REVENUE FUNDS
Motor Vehicle Highway To account for street construction and the operations of the street maintenance
department. Financing is provided by state motor vehicle highway distributions.
Studebaker/Oliver
Revitalization Grants
To account for expenditures related to the Studebaker and Oliver revitalization
projects. Financing is provided by federal and state grants and loans from other
organizations.
Economic Development
State Grants
To account for expenditures related to projects promoting economic development.
Financing is provided by state grants and loan payments. Expenditures include
grants and related expenses.
DCI Operating To account for the operating expenditures related to the South Bend Department of
Community Investment (DCI). Financing will be provided by revenues received from
charges for services, other revenue sources, and from fund transfers.
DCI Federal Grants To account for revenues received from the U.S. Department of Housing and Urban
Development related to community improvement projects.
Police State Seizure To account for law enforcement expenditures financed by the authorized state or
local agencies' sale of confiscated property.
Gift Donation Bequest To account for donations, gifts, or bequeaths for purposes designated by the donor.
Police Curfew Violation To account for monies received from penalties paid for curfew violations.
Expenditures include Drug Abuse Resistance Education and Juvenile Aid Bureau.
Unsafe Building To receive fines and fees related to Indiana's Unsafe Building law and account for
the expenses incurred for board-ups, demolitions, ordinance violation abatements,
and other related services.
Law Enforcement
Continuing Education
To account for police fees collected to finance police officers' continuing education,
training, and supplies and equipment.
Rental Units Regulation To account for the revenues and expenditures related to the Landlord Registration
and the Rental Safety Verification Program (RSVP) ordinances enacted by the
Common Council.
Loss Recovery To account for compensatory or exemplary damage payments from third parties
arising from loss or damage to City tangible or intangible property.
Code Enforcement To account for the activity of the Department of Code Enforcement including
Neighborhood Code Enforcement and the South Bend Animal Resource Center.
Local Road and Street To account for operation and maintenance of local and arterial road and street
systems. Financing is provided by state gasoline tax distributions.
LOIT 2016 Special
Distribution
To account for a one-time, special distribution of local income taxes from the State of
Indiana for the purpose of infrastructure expenditures.
Human Rights Federal
Grants
To account for expenditures to prevent discrimination and to promote human rights.
Financing is provided by federal grants.
COVID-19 Response To account for expenditures related to the City’s response to the COVID-19
pandemic, including public safety and economic development activity, as well as
related grants dedicated to fund these efforts.
127
City of South Bend, Indiana
Other Supplemental Information
Nonmajor Governmental Funds
Fund Descriptions
Local Road &
Bridge Grant
To account for the receipt of the Community Crossings grant and matching revenue
and for the payment of expenditures on eligible projects.
MVH Restricted To account for preventive maintenance of the City’s streets. Allowable costs related
to preventive maintenance is defined by the state. Financing is provided by state
motor vehicle highway distributions.
Morris and Palais
Marketing
To account for marketing and promotion expenditures financed by sponsorship
solicitations and donations.
Morris PAC
Self-Promoted Events
To account for earnings on self-promoted events.
Police Block Grants To account for federal grants which provide financing for police activities.
Hazmat To account for monies generated by the South Bend Fire Department's response to
hazardous materials incidents. Funds are used to purchase, repair, or replace
hazmat equipment, or for training and supplies.
Indiana River Rescue To account for expenditures related to river rescue training. Financing is provided by
registration fees.
Police Grants To account for federal grants which provide financing for police activities.
Regional Police
Academy
To account for revenues (tuition) and expenditures (seminars, travel, lectures, and
career days) related to the advancement of present and future police officers.
COPS MORE Grant To account for a grant which provides financing for police activities. The Community-
Oriented Policing Services (COPS) Office of the Department of Justice offers grants
through the Making Officer Redeployment Effective (MORE) program.
Federal Drug
Enforcement
To account for expenditures for drug enforcement. Financing is provided by
distributions from the authorized federal agencies' confiscated property sale.
Urban Development
Action Grant
To account for economic development expenditures which are financed by federal
grants and loan repayments.
Leaf Collection and
Removal
To account for the expenditures of a program to remove leaves from the City each
fall. Financing is provided by a monthly service fee charged to all City residents.
Police K-9 Unit To account for donations for development and maintenance of the K-9 unit.
Morris/Palais Box Office To account for Morris Performing Arts Center and Palais Royale event advance
deposits and related expenses
City Cemetery To account for expenditures specifically for the City Cemetery. Funding is provided
by the sale of cemetery plots and burial expenses.
Bowman Cemetery To account for the expenditures the City incurs in maintaining the Bowman Cemetery.
Industrial Revolving
Fund
To report and administer loan funds for small businesses that is governed by a
separate Board of Directors which contracts with the City's Community Investment
Department for administration services.
Urban Enterprise
Association
Blended Component Unit: Accounts for activities from the UEA, which runs a variety
of economic development projects for the City.
VPA Foundation Blended Component Unit: Accounts for donations for the City’s department of Venues
Parks & Arts.
128
City of South Bend, Indiana
Other Supplemental Information
Nonmajor Governmental Funds
Fund Descriptions
DEBT SERVICE FUNDS
2003 Redevelopment
Bond Airport Taxable
To accumulate monies as a reserve for the payment of Redevelopment Authority
bonds for the airport taxable project.
2003 Redevelopment
Bond Palais Royale
To accumulate monies as a reserve for the payment of Redevelopment Authority
bonds for the Palais Royale project.
2015 Smart Streets Bond
Debt Service
To accumulate monies as a reserve for the payment of Smart Streets Bonds related
to the conversion of one-way to two-way streets.
2015 Park Bond Debt
Service
To accumulate monies as a reserve for the payment of the 2015 Parks & Recreation
Bond debt service payments.
2017 Eddy St. Commons
Bond Debt Service
To accumulate monies as a reserve for the payment of the 2017 Eddy Street
Commons Phase II Bond debt service payments.
2017 Park Bond Debt
Service
This fund is used to collect a separate property tax levy and is used to pay for the
semi-annual payment of debt service principal and interest to the bondholders of the
2017 Park District Bonds, Series A-K.
2018 Fire Station #9
Bond Debt Service
To accumulate monies received as debt service payments from the City and pass
them through to trustee banks and bondholders.
2018 TIF Park Bond
Debt Service Reserve
To account for assets held to satisfy bond covenant requirements.
2019 South Shore
Double Tracking Bond
Debt Service
To accumulate monies received as debt service payments from the City and pass
them through to trustee banks and bondholders.
2020 TIF Library Bond
Debt Service Reserve
To account for assets held to satisfy bond covenant requirements.
Century Center Energy
Conservation Debt
Service
To account for debt retirement of a 2015 qualified energy conservation bond for
improvements at Century Center. Funding is provided by hotel/motel tax revenue,
interest rebates, and transfers from other City funds.
Redevelopment
Authority Debt Service
To accumulate monies for the payment of Redevelopment Authority bonds issued to
refinance bonds issued for construction of a parking garage facility, bonds issued for
central development area land acquisition and construction of public improvements,
bonds issued to purchase the Palais Royale, bonds issued to refinance bonds issued
for construction of Century Center improvements, and bonds issued to refinance
bonds issued for renovations to the Morris Performing Art Center.
South Bend Building
Corporation Debt
Service
To accumulate monies received as debt service payments from the City and pass
them through to trustee banks and bondholders.
CAPITAL PROJECTS FUNDS
Fire Department Capital To purchase capital assets for the City’s Fire Department, including vehicles (such
as fire trucks and ambulances) and capital improvements to Fire Stations.
129
City of South Bend, Indiana
Other Supplemental Information
Nonmajor Governmental Funds
Fund Descriptions
Coveleski Stadium
Capital
To account for expenditures related to the maintenance and improvement of the
baseball stadium. Financing is provided by a rental paid by the semi-pro baseball
team.
Cumulative Capital
Development
To account for expenditures relating to the purchase or lease of capital improvements
in the City. Financing is provided by a specific property tax levy.
Cumulative Capital
Improvement
To account for state cigarette tax distributions used for improvement projects.
Major Moves To account for state distributions used for road construction and other uses
authorized by Indiana statute.
Professional Sports
Convention
Development Area
To account for state distributions of sales tax and income tax earned at specified
locations within the area. Restricted for use on capital projects at those specific
locations (which include Four Winds Field, Morris Performing Arts Center, and
Century Center).
Morris Performing Arts
Center Capital
To accumulate monies for major repairs and capital improvements to the Morris Civic
Auditorium. Financing is provided by a surcharge on ticket sales for events held at
the auditorium.
Redevelopment General To account for eligible redevelopment initiatives designed to improve educational
opportunities and address poverty and unemployment in the City. Financing is
provided by an annual payment in lieu of taxes from the Pokagon Band of Potawatomi
Indians and a small receipt of local income tax.
TIF – West Washington To account for expenditures for public improvement projects in the West Washington
Economic Development Area. Financing is provided by property tax proceeds in
excess of those attributable to the assessed value of the property in the district before
redevelopment.
TIF – River East
Development
To account for expenditures for improvements in the northeast development tax
incremental district. Financing is provided by property tax proceeds in excess of
those attributable to the assessed valuation of the property in the district before
redevelopment. During TIF consolidation in 2015, this fund was renamed. It was
formerly known as the TIF Northeast Development Fund.
TIF – Southside
Development Area No. 1
To account for expenditures for improvements in the Southside development tax
incremental district no. 1. Financing is provided by property tax proceeds in excess
of those attributable to the assessed valuation of the property in the district before
redevelopment.
TIF – Douglas Road To account for expenditures for improvements in the Douglas Road development tax
incremental district. Financing is provided by property tax proceeds in excess of
those attributable to the assessed valuation of the property in the district before
redevelopment.
TIF – River East
Residential
To account for expenditures for improvements in the Northeast Neighborhood
Residential development tax incremental district. Financing is provided by property
tax proceeds in excess of those attributable to the assessed valuation of the property
in the district before redevelopment. During TIF consolidation in 2015, this fund was
renamed. It was formerly known as the TIF Northeast Residential Fund.
130
City of South Bend, Indiana
Other Supplemental Information
Nonmajor Governmental Funds
Fund Descriptions
Certified Technology
Park
To account for expenditures related to acquisition, improvements, construction and
maintenance of public facilities, debt service and other permitted uses under I.C. 36-
7-32-23 in connection with a certified technology park. Financing is provided by
property tax proceeds, state gross retail and uses taxes, and other revenues.
Palais Royale
Historic Preservation
To account for expenditures financed by a two percent fee charged for all Palais
Royale services.
Airport Urban Enterprise
Zone
To account expenditures for improvements in the Zone area, financed by property
taxes on qualifying properties in the Zone.
Equipment Vehicle
Leasing
To account for proceeds from capital lease-purchase agreements used to finance
major equipment needs of the City.
2017 Park Bond Capital To account for the expenditures of bond funds relating to the Park District Bonds,
Series 2017 A-K to be used for planned capital projects to improve the parks.
2017 Eddy St. Commons
Bond Capital
To account for the expenditures of the bond proceeds from to be spent on Phase II
of the mixed-use development near the University of Notre Dame.
2018 Fire Station #9
Bond Capital
To account for the expenditures of bond funds relating to the General Obligation
Bonds, Series 2018 to be used for the construction of the new Fire Station #9 and
additional classroom for the Fire Training Center.
2018 TIF Park Bond
Capital
To account for the expenditures of bond funds relating to the Redevelopment District
Bonds, Series 2018 to be used for planned capital projects to improve the parks.
2018 Zoo Bond Capital To account for the expenditures of bond funds relating to the Economic Development
Revenue Bonds, Series 2018 to be used for the construction, expansion, renovation,
equipping, furnishing and improvement of the Potawatomi Zoo.
131
City of South Bend, IndianaCombining Balance SheetNonmajor Governmental FundsDecember 31, 2021Special Revenue FundsStudebakerOliver Economic DCI Gift PoliceMotor Vehicle Revitalization Development Federal Police State Donation CurfewHighwayGrantsState GrantsDCI OperatingGrantsSeizureBequestViolationAssetsCash and cash equivalents 2,587,562$ 285,425$ 11,081$ 185,365$ 409,817$ 71,671$ 403,460$ 5,723$ Investments 2,208,337 404,709 15,712 230,125 - 101,623 572,073 8,115 Receivables:Accounts 49,543 - 1 - - - - - Interest 2,156 394 15 224 - 99 558 8 Taxes - - - - - - - - Property taxes - - - - - - - - Loans - - - - 166,900 - - - Due from other funds - - - - - - - - Advances to other funds - - - - - - - - Property held for resale - 1 - - 2,288,072 - - - Total assets 4,847,598$ 690,529$ 26,809$ 415,714$ 2,864,789$ 173,393$ 976,091$ 13,846$ LiabilitiesAccounts payable 415,045$ -$ -$ 3,653$ 63,108$ -$ 50,913$ -$ Due to other funds 809 - - - - - - - Advances from other funds - - - - - - - - Performance deposits payable - - - - - - - - Accrued liabilities and other:Accrued payroll payable 112,010 - - 68,460 - - - - Taxes payable 13,456 - - 8,224 - - - - Other current payables 18,862 - - 11,528 2,090 - - - Customer deposits 1,600 - - - - - - - Total liabilities 561,782 - - 91,865 65,198 - 50,913 - Deferred inflows of resources- unavailable revenueProperty taxes receivable - - - - - - - - Total deferred inflows of resources - - - - - - - - Fund balancesNonspendable - 1 - - 2,288,072 - - - Restricted 4,285,816 690,528 26,809 - 511,519 173,393 925,178 - Committed - - - - - - - 13,846 Assigned - - - 323,849 - - - - Unassigned - - - - - - - - Total fund balances 4,285,816 690,529 26,809 323,849 2,799,591 173,393 925,178 13,846 Total liabilities, deferred inflowsof resources, and fund balances 4,847,598$ 690,529$ 26,809$ 415,714$ 2,864,789$ 173,393$ 976,091$ 13,846$ 132
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Special Revenue FundsLawEnforcement Rental LOIT 2016Unsafe Continuing Units Loss RecoveryCode Local Road Special Human RightsBuildingEducationRegulationFundEnforcementand StreetDistributionFederal Grants315,414$ 156,363$ 36,976$ 170,740$ 378,591$ 968,686$ 101,277$ 179,458$ 447,231 221,564 51,106 242,095 134,988 1,373,516 143,603 249,371 - 7,700 - - - - - - 436 216 50 236 133 1,338 140 243 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 763,081$ 385,843$ 88,132$ 413,071$ 513,712$ 2,343,540$ 245,020$ 429,072$ -$ 512$ -$ -$ 14,613$ 26,730$ -$ 3,865$ - - - - 864 - - - - - - - - - - - 4,950 - - - - - - - - - 3,234 - 49,763 - - 4,814 - - 388 - 5,978 - - 578 - - 545 - 8,380 - - 811 - - - - - - - - 4,950 512 4,167 - 79,598 26,730 - 10,068 - - - - - - - - - - - - - - - - - - - - - - - - - 385,331 - - - 2,316,810 245,020 419,004 758,131 - 83,965 413,071 434,114 - - - - - - - - - - - - - - - - - - - 758,131 385,331 83,965 413,071 434,114 2,316,810 245,020 419,004 763,081$ 385,843$ 88,132$ 413,071$ 513,712$ 2,343,540$ 245,020$ 429,072$ 133
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Special Revenue FundsMorris and Morris PACCOVID-19 Local Road and MVH Palais Self-Promoted Police Block Indiana RiverResponseBridge GrantRestrictedMarketingEventsGrantsHazmatRescue-$ 290,631$ 842,800$ 30,845$ 108,856$ 1,716$ 11,587$ 148,562$ - 412,091 1,194,009 43,736 154,348 2,433 16,429 210,649 - - - - - - - 16,100 - 402 1,163 43 150 3 16 205 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -$ 703,124$ 2,037,972$ 74,624$ 263,354$ 4,152$ 28,032$ 375,516$ 26,633$ 197,847$ 23,743$ -$ -$ -$ -$ 2,060$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 26,633 197,847 23,743 - - - - 2,060 - - - - - - - - - - - - - - - - - - - - - - - - - 505,277 2,014,229 - - 4,152 - - - - - 74,624 263,354 - 28,032 373,456 - - - - - - - - (26,633) - - - - - - - (26,633) 505,277 2,014,229 74,624 263,354 4,152 28,032 373,456 -$ 703,124$ 2,037,972$ 74,624$ 263,354$ 4,152$ 28,032$ 375,516$ 134
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Special Revenue FundsUrbanPolice Regional Police COPS MORE Federal Drug Development Leaf Collection Police Morris/PalaisGrantsAcademyGrantEnforcementAction Grantand RemovalK-9 UnitBox Office26,716$ 60,334$ 18,698$ 60,237$ 11,208$ 119,703$ 1,004$ 791,599$ - 85,548 26,512 - 15,892 164,899 1,424 - - - - - - 68,578 - - - 83 26 9 15 161 - - - - - - - - - - - - - - - - - - - - - - 385,577 - - - - - - - - 48 - - - - - - - - - - - - - - - - - - 26,716$ 145,965$ 45,236$ 60,246$ 412,692$ 353,389$ 2,428$ 791,599$ -$ -$ -$ -$ -$ 1,118$ -$ -$ - - - - - - - - - - - - 356,253 - - - - - - - - - - - - - - - - 7,932 - - - - - - - 953 - - - - - - - 1,336 - - - - - - - - - 791,599 - - - - 356,253 11,339 - 791,599 - - - - - - - - - - - - - - - - - - - - - - - - 26,716 - 45,236 60,246 56,439 - - - - 145,965 - - - - - - - - - - - 342,050 2,428 - - - - - - - - - 26,716 145,965 45,236 60,246 56,439 342,050 2,428 - 26,716$ 145,965$ 45,236$ 60,246$ 412,692$ 353,389$ 2,428$ 791,599$ 135
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Special Revenue FundsDebt Service Funds20032003Industrial UrbanTotalRedevelopment RedevelopmentCityBowman Revolving EnterpiseVPASpecial RevenueBond - Airport Bond - PalaisCemeteryCemeteryFundAssociationFoundationFundsTaxableRoyale12,459$ 196,002$ 3,700,843$ 616,648$ 1,332,406$ 14,650,463$ 428,999$ 717,222$ 17,667 277,915 - 1,145,220 - 10,172,940 608,286 1,016,961 - - - 2,807 - 144,729 - - 17 271 33 - - 8,843 - - - - - - - - - - - - - - - - - - - - 6,002,406 - - 6,554,883 - - - - - - - 48 - - - - - - - - - - - - 76,300 - - 2,364,373 - - 30,143$ 474,188$ 9,779,582$ 1,764,675$ 1,332,406$ 33,896,279$ 1,037,285$ 1,734,183$ -$ -$ -$ 31,635$ -$ 861,475$ -$ -$ - - - - - 1,673 - - - - - - - 356,253 - - - - - - - 4,950 - - - - - - - 246,213 - - - - - - - 29,577 - - - - - - - 43,552 - - - - - 17,240 - 810,439 - - - - - 48,875 - 2,354,132 - - - - - - - - - - - - - - - - - - - - 76,300 - - 2,364,373 - - 30,143 474,188 9,703,282 1,715,800 1,332,406 25,947,522 1,037,285 1,734,183 - - - - - 2,588,558 - - - - - - - 668,327 - - - - - - - (26,633) - - 30,143 474,188 9,779,582 1,715,800 1,332,406 31,542,147 1,037,285 1,734,183 30,143$ 474,188$ 9,779,582$ 1,764,675$ 1,332,406$ 33,896,279$ 1,037,285$ 1,734,183$ 136
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Debt Service Funds20182018 TIF 2019 South 2020 TIF2015 Smart2017 Eddy St. Fire Station #9 Park Bond Shore Double Library BondStreets Bond 2015 Park Bond 2017 Park Bond Commons Bond Bond Debt Service Tracking Bond Debt ServiceDebt ServiceDebt ServiceDebt ServiceDebt ServiceDebt ServiceReserveDebt ServiceReserve1,742,699$ 587,764$ 75,933$ 3,668,611$ -$ 427,056$ 9,443$ 326,945$ - - 107,668 - - 605,531 - - - - - - - - - - 7 4 105 16 - 590 - 1 - - - - - - - - - - 1,126,573 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,742,706$ 587,768$ 1,310,279$ 3,668,627$ -$ 1,033,177$ 9,443$ 326,946$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,126,573 - - - - - - - 1,126,573 - - - - - - - - - - - - - 1,742,706 587,768 183,706 3,668,627 - 1,033,177 9,443 326,946 - - - - - - - - - - - - - - - - - - - - - - - - 1,742,706 587,768 183,706 3,668,627 - 1,033,177 9,443 326,946 1,742,706$ 587,768$ 1,310,279$ 3,668,627$ -$ 1,033,177$ 9,443$ 326,946$ 137
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Debt Service FundsCapital Projects FundsCenturySouth BendCenter Energy Redevelopment BuildingTotalFireCoveleski Cumulative CumulativeConservation Authority CorporationDebt ServiceDepartment Stadium CapitalCapitalDebt ServiceDebt ServiceDebt ServiceFundsCapitalCapitalDevelopmentImprovement110,721$ 242,425$ 224,375$ 8,562,193$ 1,713,541$ 336$ 118,230$ 268,457$ 85,534 - - 2,423,980 1,039,369 476 167,640 380,651 - - - - 300 - - - 85 4 2 814 1,017 - 163 371 - - - - - - - - - - - 1,126,573 - - 467,146 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 196,340$ 242,429$ 224,377$ 12,113,560$ 2,754,227$ 812$ 753,179$ 649,479$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,126,573 - - 467,146 - - - - 1,126,573 - - 467,146 - - - - - - - - - 196,340 242,429 224,377 10,986,987 2,754,227 - 286,033 649,479 - - - - - 812 - - - - - - - - - - - - - - - - - - 196,340 242,429 224,377 10,986,987 2,754,227 812 286,033 649,479 196,340$ 242,429$ 224,377$ 12,113,560$ 2,754,227$ 812$ 753,179$ 649,479$ 138
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Capital Projects FundsProfessional MorrisSports ConventionPerformingTIF - SouthsideDevelopment Arts Center Redevelopment TIF - West TIF - River East Development TIF - DouglasMajor MovesAreaCapitalGeneralWashingtonDevelopmentArea No. 1Road778,945$ 319,805$ 788,731$ 1,314,462$ 509,223$ 3,919,661$ 5,967,526$ 106,204$ 1,104,480 453,458 1,118,354 1,863,797 722,036 5,557,754 8,461,458 150,588 - - - - - 16,850 - - 1,076 442 1,090 1,816 704 5,416 8,246 147 - 265,657 - - - - - - - - - - 342,762 4,592,585 2,941,126 306,303 - - - - - - - - - - - - - - - - 1,552,482 - - - - - - - - - - 2,214 436,000 11,300 - - 3,436,983$ 1,039,362$ 1,908,175$ 3,182,289$ 2,010,725$ 14,103,566$ 17,378,356$ 563,242$ -$ 655,000$ 17,030$ 110,000$ -$ 99,412$ 48,145$ -$ - - - - - - - - - - - - - - - - - - - - - 7,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 655,000 17,030 110,000 - 106,412 48,145 - - - - - 342,762 4,592,585 2,941,126 306,303 - - - - 342,762 4,592,585 2,941,126 306,303 1,552,482 - - 2,214 436,000 11,300 - - 1,884,501 384,362 - - 1,231,963 9,393,269 14,389,085 256,939 - - 1,891,145 3,070,075 - - - - - - - - - - - - - - - - - - - - 3,436,983 384,362 1,891,145 3,072,289 1,667,963 9,404,569 14,389,085 256,939 3,436,983$ 1,039,362$ 1,908,175$ 3,182,289$ 2,010,725$ 14,103,566$ 17,378,356$ 563,242$ 139
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Capital Projects FundsCertified Palais Royale Airport Urban Equipment2017 Eddy St. 2018 FireTIF - River East Technology Historic Enterprise Vehicle 2017 Park Commons Bond Station #9ResidentialParkPreservationZoneLeasingBond CapitalCapitalBond Capital2,238,863$ 4,595$ 38,544$ 169,212$ 347,697$ 1,756,354$ 25,763$ 130,329$ 3,174,523 6,516 54,652 239,928 - 2,490,364 - 184,795 - - - - - - - - 3,094 6 53 234 - 2,427 - 180 - - - - - - - - 6,527,949 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 11,944,429$ 11,117$ 93,249$ 409,374$ 347,697$ 4,249,145$ 25,763$ 315,304$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - 1,552,482 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 25,564 - - - - - - - - - 1,552,482 - - - - - 25,564 - 6,527,949 - - - - - - - 6,527,949 - - - - - - - - - - - - - - - 3,863,998 11,117 - - 347,697 4,249,145 199 315,304 - - 93,249 409,374 - - - - - - - - - - - - - - - - - - - - 3,863,998 11,117 93,249 409,374 347,697 4,249,145 199 315,304 11,944,429$ 11,117$ 93,249$ 409,374$ 347,697$ 4,249,145$ 25,763$ 315,304$ 140
City of South Bend, IndianaAssetsCash and cash equivalentsInvestmentsReceivables:AccountsInterestTaxesProperty taxesLoansDue from other fundsAdvances to other fundsProperty held for resaleTotal assetsLiabilitiesAccounts payableDue to other fundsAdvances from other fundsPerformance deposits payableAccrued liabilities and other:Accrued payroll payableTaxes payableOther current payablesCustomer depositsTotal liabilitiesDeferred inflows of resources- unavailable revenueProperty taxes receivableTotal deferred inflows of resourcesFund balancesNonspendableRestrictedCommittedAssignedUnassignedTotal fund balancesTotal liabilities, deferred inflowsof resources, and fund balancesCombining Balance Sheet (Continued)Nonmajor Governmental FundsDecember 31, 2021Capital Projects Funds2018 TIF2021Total Total NonmajorPark Bond InfrastructureCapital Projects GovernmentalCapitalBond CapitalFundsFunds1,003,263$ 1,581,843$ 23,101,584$ 46,314,240$ 1,422,543 2,242,923 30,836,305 43,433,225 - - 17,150 161,879 1,386 2,186 30,054 39,711 - - 265,657 265,657 - - 15,177,871 16,304,444 - - - 6,554,883 - - - 48 - - 1,552,482 1,552,482 - - 449,514 2,813,887 2,427,192$ 3,826,952$ 71,430,617$ 117,440,456$ 51,891$ 206,557$ 1,188,035$ 2,049,510$ - - - 1,673 - - 1,552,482 1,908,735 - - 7,000 11,950 - - - 246,213 - - - 29,577 - - 25,564 69,116 - - - 810,439 51,891 206,557 2,773,081 5,127,213 - - 15,177,871 16,304,444 - - 15,177,871 16,304,444 - - 2,001,996 4,366,369 2,375,301 3,620,395 46,013,014 82,947,523 - - 5,464,655 8,053,213 - - - 668,327 - - - (26,633) 2,375,301 3,620,395 53,479,665 96,008,799 2,427,192$ 3,826,952$ 71,430,617$ 117,440,456$ 141
City of South Bend, IndianaCombining Statement of Revenues, Expenditures, and Changes in Fund BalancesNonmajor Governmental FundsFor the Year Ended December 31, 2021Special Revenue FundsStudebakerOliver Economic DCI Gift PoliceMotor Vehicle Revitalization Development Federal Police State Donation Curfew UnsafeHighwayGrantsState GrantsDCI OperatingGrantsSeizureBequestViolationBuildingRevenuesProperty taxes -$ -$ -$ -$ -$ -$ -$ -$ -$ Income taxes - - - - - - - - - Hotel/motel taxes - - - - - - - - - Licenses and permits 1,975 - - - - - - - - Intergovernmental 3,327,401 - 41,014 9,200 2,563,504 - - - - Charges for services 224,847 - - 1,453,279 - - - - - Fines and forfeitures - - - 57,904 500 - - - 34,066 Investment income (loss) (2,587) 10 1 (480) - (163) 1,124 - 88 Other 179,328 - 401 146,338 330,266 22,670 471,609 - - Total revenues 3,730,964 10 41,416 1,666,241 2,894,270 22,507 472,733 - 34,154 ExpendituresCurrent:General government - - - - - - 468,644 - 106,076 Public safety - - - - - - - - - Highways and streets 7,626,348 - - - - - 33,500 - - Community and economic development - 66,874 41,452 3,347,982 2,822,227 - - - - Culture and recreation - - - - - - - - - Capital outlay:General government - - - - - - - - - Public safety - - - - - 71,043 - - - Highways and streets 1,571,080 - - - - - - - - Community and economic development - - - - - - - - - Culture and recreation - - - - - - - - - Debt service:Principal874,648 - 35,604 - - - - - - Interest on long-term debt39,036 - 401 - - - - - - Bond issuance costs- - - - - - - - - Total expenditures 10,111,112 66,874 77,457 3,347,982 2,822,227 71,043 502,144 - 106,076 Excess of revenues (under) over expenditures (6,380,148) (66,864) (36,041) (1,681,741) 72,043 (48,536) (29,411) - (71,922) Other financing sources (uses)Issuance of debt 890,000 - - - - - - - - Premium on debt - - - - - - - - - Proceeds from sale of capital assets 12,696 - - - - - - - - Transfers in 3,500,000 - - 500,000 - 7,636 - - - Transfers out - - - (50,000) - - - - - Total other financing sources (uses) 4,402,696 - - 450,000 - 7,636 - - - Net change in fund balances (1,977,452) (66,864) (36,041) (1,231,741) 72,043 (40,900) (29,411) - (71,922) Fund balances - Beginning of year 6,263,268 757,393 62,850 1,555,590 2,727,548 214,293 954,589 13,846 830,053 Fund balances - End of year4,285,816$ 690,529$ 26,809$ 323,849$ 2,799,591$ 173,393$ 925,178$ 13,846$ 758,131$ 142
City of South Bend, IndianaRevenuesProperty taxesIncome taxesHotel/motel taxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment income (loss)OtherTotal revenuesExpendituresCurrent:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationCapital outlay:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationDebt service:PrincipalInterest on long-term debtBond issuance costsTotal expendituresExcess of revenues (under) over expendituresOther financing sources (uses)Issuance of debtPremium on debtProceeds from sale of capital assetsTransfers inTransfers outTotal other financing sources (uses)Net change in fund balancesFund balances - Beginning of yearFund balances - End of yearCombining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)Nonmajor Governmental FundsFor the Year Ended December 31, 2021Special Revenue FundsLawEnforcement RentalLOIT 2016Continuing Units Loss Recovery Code Local Road Special Human Rights COVID-19 Local Road andEducationRegulationFundEnforcementand StreetDistributionFederal GrantsResponseBridge Grant-$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - 43,555 - - - - - 41,980 - - - 2,610,025 - 162,140 1,490,275 791,072 115,023 - - 47,624 - - 10,833 - - 89,648 6,880 - 411,114 - - - - - (352) (130) (146) (2,107) 693 (45) (291) - (1,639) 3,470 - - 36,142 - 1,500 - 5,000 - 249,769 6,750 (146) 536,328 2,610,718 1,455 172,682 1,495,275 789,433 - 157,952 69,629 3,225,069 - - 206,450 - - 388,282 - - - - - - 17,049 - - - - - 768,531 - - - 782,357 - - - - - - - 1,742,102 - - - - - - - - - - - - - 49,478 - - - - - - - - - - - - - - - - - - 1,008,696 23,927 - - 1,076,557 - - - - - - - - - - - - - - - - - - - - - 90,536 - - - - - - - - 4,350 - - - - - - - - - - - - - - 388,282 157,952 69,629 3,369,433 1,777,227 23,927 206,450 1,759,151 1,858,914 (138,513) (151,202) (69,775) (2,833,105) 833,491 (22,472) (33,768) (263,876) (1,069,481) - - - 235,000 - - - - - - - - - - - - - - - - - 1,564 - - - - - 73,512 50,000 - 2,290,000 - - - 1,448,093 1,000,000 - - - - (2,000,000) - - (1,000,000) - 73,512 50,000 - 2,526,564 (2,000,000) - - 448,093 1,000,000 (65,001) (101,202) (69,775) (306,541) (1,166,509) (22,472) (33,768) 184,217 (69,481) 450,332 185,167 482,846 740,655 3,483,319 267,492 452,772 (210,850) 574,758 385,331$ 83,965$ 413,071$ 434,114$ 2,316,810$ 245,020$ 419,004$ (26,633)$ 505,277$ 143
City of South Bend, IndianaRevenuesProperty taxesIncome taxesHotel/motel taxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment income (loss)OtherTotal revenuesExpendituresCurrent:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationCapital outlay:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationDebt service:PrincipalInterest on long-term debtBond issuance costsTotal expendituresExcess of revenues (under) over expendituresOther financing sources (uses)Issuance of debtPremium on debtProceeds from sale of capital assetsTransfers inTransfers outTotal other financing sources (uses)Net change in fund balancesFund balances - Beginning of yearFund balances - End of yearCombining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)Nonmajor Governmental FundsFor the Year Ended December 31, 2021Special Revenue FundsMorris and Morris PACMVHPalais Self-Promoted Police BlockIndiana River Police Regional Police COPS MORERestrictedMarketingEventsGrantsHazmatRescueGrantsAcademyGrant-$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - 3,204,129 - - - - - - - 103,213 - 4,983 37,223 - - 94,550 - 19,625 - - - - - - - - - 7,312 811 8 (65) - - (22) - 29 71 - 500 - - - 1,300 - - 120 3,204,940 5,491 37,158 - - 95,828 - 19,654 110,716 - - - - - - - - - - - - - - 55,196 - 100 22,545 2,023,294 - - - - - - - - - - - - - - - - - - 7,648 - - - - - - - - - - - - - - - - - - - - - - - - 116,658 265,500 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,288,794 7,648 - - - 55,196 - 100 139,203 916,146 (2,157) 37,158 - - 40,632 - 19,554 (28,487) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 916,146 (2,157) 37,158 - - 40,632 - 19,554 (28,487) 1,098,083 76,781 226,196 4,152 28,032 332,824 26,716 126,411 73,723 2,014,229$ 74,624$ 263,354$ 4,152$ 28,032$ 373,456$ 26,716$ 145,965$ 45,236$ 144
City of South Bend, IndianaRevenuesProperty taxesIncome taxesHotel/motel taxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment income (loss)OtherTotal revenuesExpendituresCurrent:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationCapital outlay:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationDebt service:PrincipalInterest on long-term debtBond issuance costsTotal expendituresExcess of revenues (under) over expendituresOther financing sources (uses)Issuance of debtPremium on debtProceeds from sale of capital assetsTransfers inTransfers outTotal other financing sources (uses)Net change in fund balancesFund balances - Beginning of yearFund balances - End of yearCombining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)Nonmajor Governmental FundsFor the Year Ended December 31, 2021Special Revenue FundsUrbanIndustrial UrbanFederal Drug Development Leaf Collection Police Morris/Palais City Bowman Revolving EnterpiseEnforcementAction Grantand RemovalK-9 UnitBox OfficeCemeteryCemeteryFundAssociation-$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,658,410 - - - 466,321 - - - - - 526,883 - - - - - - - - - 201 (7) 177 - - - 9 413 1,716 57,918 - - - - - - 289,858 326,739 58,119 (7) 466,498 - - - 9 2,948,681 855,338 - - - - - - - - - - - - - - - - - - - - 95,282 - - - - - - - - - - - - - 482,841 889,787 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 95,282 - - - - 482,841 889,787 58,119 (7) 371,216 - - - 9 2,465,840 (34,449) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (81,148) - (500,000) - - - - - - (81,148) - (500,000) - - - - - - (23,029) (7) (128,784) - - - 9 2,465,840 (34,449) 83,275 56,446 470,834 2,428 - 30,143 474,179 7,313,742 1,750,249 60,246$ 56,439$ 342,050$ 2,428$ -$ 30,143$ 474,188$ 9,779,582$ 1,715,800$ 145
City of South Bend, IndianaRevenuesProperty taxesIncome taxesHotel/motel taxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment income (loss)OtherTotal revenuesExpendituresCurrent:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationCapital outlay:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationDebt service:PrincipalInterest on long-term debtBond issuance costsTotal expendituresExcess of revenues (under) over expendituresOther financing sources (uses)Issuance of debtPremium on debtProceeds from sale of capital assetsTransfers inTransfers outTotal other financing sources (uses)Net change in fund balancesFund balances - Beginning of yearFund balances - End of yearCombining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)Nonmajor Governmental FundsFor the Year Ended December 31, 2021Special Revenue FundsDebt Service Funds200320032018TotalRedevelopment Redevelopment 2015 Smart2017 Eddy St. Fire Station #9VPASpecial RevenueBond - Airport Bond - Palais Streets Bond 2015 Park Bond 2017 Park Bond Commons Bond BondFoundationFundsTaxableRoyaleDebt ServiceDebt ServiceDebt ServiceDebt ServiceDebt Service-$ -$ -$ -$ -$ -$ 1,116,956$ -$ -$ - - - - - - - - - - - - - - - - - - - 45,530 - - - - - - - - 17,002,363 - - - - 68,319 - - - 3,001,191 - - - - - - - - 607,424 - - - - - - - - (2,683) (573) (959) 99 52 (593) 200 - 1,162,357 3,035,516 - - - - - - - 1,162,357 23,689,341 (573) (959) 99 52 1,184,682 200 - - 4,233,820 - - - - - - - - 483,172 - - - - - - - - 11,329,312 - - - - - - - - 9,393,265 - - - - - - - 414,140 421,788 - - - - - - - - 49,478 - - - - - - - - 187,701 - - - - - - - - 3,945,760 - - - - - - - - - - - - - - - - - - - - - - - - - - 1,000,788 - - 1,030,000 225,000 825,000 475,000 205,000 - 43,787 - - 682,469 149,381 364,190 1,235,875 140,306 - - - - - - - - - 414,140 31,088,871 - - 1,712,469 374,381 1,189,190 1,710,875 345,306 748,217 (7,399,530) (573) (959) (1,712,370) (374,329) (4,508) (1,710,675) (345,306) - 1,125,000 - - - - - - - - - - - - - - - - - 14,260 - - - - - - - - 8,869,241 - - 1,716,000 375,986 - 1,915,979 345,306 - (3,631,148) (5,196) (8,686) - - - - - - 6,377,353 (5,196) (8,686) 1,716,000 375,986 - 1,915,979 345,306 748,217 (1,022,177) (5,769) (9,645) 3,630 1,657 (4,508) 205,304 - 584,189 32,564,324 1,043,054$ 1,743,828$ 1,739,076$ 586,111$ 188,214$ 3,463,323$ -$ 1,332,406$ 31,542,147$ 1,037,285$ 1,734,183$ 1,742,706$ 587,768$ 183,706$ 3,668,627$ -$ 146
City of South Bend, IndianaRevenuesProperty taxesIncome taxesHotel/motel taxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment income (loss)OtherTotal revenuesExpendituresCurrent:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationCapital outlay:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationDebt service:PrincipalInterest on long-term debtBond issuance costsTotal expendituresExcess of revenues (under) over expendituresOther financing sources (uses)Issuance of debtPremium on debtProceeds from sale of capital assetsTransfers inTransfers outTotal other financing sources (uses)Net change in fund balancesFund balances - Beginning of yearFund balances - End of yearCombining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)Nonmajor Governmental FundsFor the Year Ended December 31, 2021Debt Service FundsCapital Projects Funds2018 TIF 2019 South 2020 TIF CenturySouth BendPark Bond Shore Double Library Bond Center Energy Redevelopment BuildingTotalFireCoveleskiDebt Service Tracking Bond Debt Service Conservation Authority CorporationDebt ServiceDepartment StadiumReserveDebt ServiceReserveDebt ServiceDebt ServiceDebt ServiceFundsCapitalCapital-$ -$ -$ -$ -$ -$ 1,116,956$ -$ -$ - - - - - - - - - - - - 221,437 - - 221,437 - - - - - - - - - - - - - - - - - 68,319 - - - - - - - - - 1,905,360 - - - - - - - - 300 - 19 3 18 726 75 58 (875) (860) 16 - - - 89,480 - - 89,480 1,334 - 19 3 18 311,643 75 58 1,495,317 1,906,134 16 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 10,183 - - - - - - - - - - - - - - - - 929,718 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 650,000 - 291,274 1,850,000 2,109,410 7,660,684 662,651 - - 377,750 - 115,437 1,006,069 375,207 4,446,684 36,120 - - - - - - 258,996 258,996 - - - 1,027,750 - 406,711 2,856,069 2,743,613 12,366,364 1,628,489 10,183 19 (1,027,747) 18 (95,068) (2,855,994) (2,743,555) (10,871,047) 277,645 (10,167) - - - - - 7,610,000 7,610,000 210,000 - - - - - - 1,250,022 1,250,022 - - - - - - - - - - - - 1,036,500 - 97,217 2,866,000 2,522,303 10,875,291 - - - - (11) - - (9,169,943) (9,183,836) (750,306) - - 1,036,500 (11) 97,217 2,866,000 2,212,382 10,551,477 (540,306) - 19 8,753 7 2,149 10,006 (531,173) (319,570) (262,661) (10,167) 1,033,158$ 690$ 326,939$ 194,191$ 232,423$ 755,550$ 11,306,557 3,016,888 10,979 1,033,177$ 9,443$ 326,946$ 196,340$ 242,429$ 224,377$ 10,986,987$ 2,754,227$ 812$ 147
City of South Bend, IndianaRevenuesProperty taxesIncome taxesHotel/motel taxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment income (loss)OtherTotal revenuesExpendituresCurrent:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationCapital outlay:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationDebt service:PrincipalInterest on long-term debtBond issuance costsTotal expendituresExcess of revenues (under) over expendituresOther financing sources (uses)Issuance of debtPremium on debtProceeds from sale of capital assetsTransfers inTransfers outTotal other financing sources (uses)Net change in fund balancesFund balances - Beginning of yearFund balances - End of yearCombining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)Nonmajor Governmental FundsFor the Year Ended December 31, 2021Capital Projects FundsProfessional MorrisCumulative Cumulative Sports ConventionPerformingTIF - SouthsideCapitalCapitalDevelopment Arts Center Redevelopment TIF - West TIF - River East DevelopmentDevelopmentImprovementMajor MovesAreaCapitalGeneralWashingtonDevelopmentArea No. 1469,124$ -$ -$ -$ -$ -$ 348,856$ 4,328,968$ 2,981,728$ - - - - - 3,543 - - - - - - - - - - - - - - - - - - - - - 41,568 207,760 84,756 1,041,071 - - - - - - - - - 37,223 - - - - - - - - - - - - - (361) (230) 161 (1,709) (4,383) (3,197) 273 (3,513) (3,178) - 25,000 66,291 - - 1,412,877 - 89,527 - 510,331 232,530 151,208 1,039,362 32,840 1,413,223 349,129 4,414,982 2,978,550 - - - - - - - - - - - - - - - - - - - - 55,310 - - - - - - - - - - - 624,368 45,544 50,966 99,344 - - - - 25,196 - - - - - - - - - - - - - - - - - - - - - - - - 27,855 - - - - 584,532 - - - - - - - 202,738 627,246 524,814 - - - 655,000 120,285 - - 523 487,974 370,109 - - - - - - - - 24,658 - - - - - - - - - - - - - - - - - 394,767 - 83,165 655,000 145,481 624,368 248,282 1,263,267 1,112,132 115,564 232,530 68,043 384,362 (112,641) 788,855 100,847 3,151,715 1,866,418 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,800,000 - - 673,180 - - (262,145) - - - (147,786) - - - - (262,145) - - 1,800,000 (147,786) - 673,180 - 115,564 (29,615) 68,043 384,362 1,687,359 641,069 100,847 3,824,895 1,866,418 170,469 679,094 3,368,940 - 203,786 2,431,220 1,567,116 5,579,674 12,522,667 286,033$ 649,479$ 3,436,983$ 384,362$ 1,891,145$ 3,072,289$ 1,667,963$ 9,404,569$ 14,389,085$ 148
City of South Bend, IndianaRevenuesProperty taxesIncome taxesHotel/motel taxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment income (loss)OtherTotal revenuesExpendituresCurrent:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationCapital outlay:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationDebt service:PrincipalInterest on long-term debtBond issuance costsTotal expendituresExcess of revenues (under) over expendituresOther financing sources (uses)Issuance of debtPremium on debtProceeds from sale of capital assetsTransfers inTransfers outTotal other financing sources (uses)Net change in fund balancesFund balances - Beginning of yearFund balances - End of yearCombining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)Nonmajor Governmental FundsFor the Year Ended December 31, 2021Capital Projects FundsCertified Palais Royale Airport Urban Equipment2017 Eddy St. 2018 FireTIF - Douglas TIF - River East Technology Historic Enterprise Vehicle 2017 Park Commons Bond Station #9RoadResidentialParkPreservationZoneLeasingBond CapitalCapitalBond Capital269,923$ 6,299,000$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 12,077 - - - - - - - - - - - - - - (269) (9,884) - (13) 8 17 781 1 6 - - - - - - - - - 269,654 6,289,116 - 12,064 8 17 781 1 6 - - - - - - - - - - - - - - - - - - - - - - - - - - - 14,800 13,350 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,423,265 - - - - - - - - - - - - 67,791 - - - - - - - - - - - - - - - - 14,800 81,141 - - - - 1,423,265 - - 254,854 6,207,975 - 12,064 8 17 (1,422,484) 1 6 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (91,370) (5,058,659) - - - - - - - (91,370) (5,058,659) - - - - - - - 163,484 1,149,316 - 12,064 8 17 (1,422,484) 1 6 93,455 2,714,682 11,117 81,185 409,366 347,680 5,671,629 198 315,298 256,939$ 3,863,998$ 11,117$ 93,249$ 409,374$ 347,697$ 4,249,145$ 199$ 315,304$ 149
City of South Bend, IndianaRevenuesProperty taxesIncome taxesHotel/motel taxesLicenses and permitsIntergovernmentalCharges for servicesFines and forfeituresInvestment income (loss)OtherTotal revenuesExpendituresCurrent:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationCapital outlay:General governmentPublic safetyHighways and streetsCommunity and economic developmentCulture and recreationDebt service:PrincipalInterest on long-term debtBond issuance costsTotal expendituresExcess of revenues (under) over expendituresOther financing sources (uses)Issuance of debtPremium on debtProceeds from sale of capital assetsTransfers inTransfers outTotal other financing sources (uses)Net change in fund balancesFund balances - Beginning of yearFund balances - End of yearCombining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued)Nonmajor Governmental FundsFor the Year Ended December 31, 2021Capital Projects Funds2018 TIF2021Total Total NonmajorPark Bond InfrastructureCapital Projects GovernmentalCapitalBond CapitalFundsFunds-$ -$ 14,697,599$ 15,814,555$ - - 3,543 3,543 - - - 221,437 - - - 45,530 - - 1,375,155 18,445,837 - - 1,954,660 4,955,851 - - 300 607,724 122 11,692 (14,520) (18,078) - - 1,595,029 4,720,025 122 11,692 19,611,766 44,796,424 - - - 4,233,820 - - - 483,172 - - 55,310 11,384,622 - - 848,372 10,241,637 - - 35,379 457,167 - - - 49,478 - - 929,718 1,117,419 - 3,992,323 4,604,710 8,550,470 - - 1,354,798 1,354,798 13,231 - 2,700,278 2,700,278 - - 1,032,760 9,694,232 - - 128,569 4,619,040 - - - 258,996 13,231 3,992,323 11,689,894 55,145,129 (13,109) (3,980,631) 7,921,872 (10,348,705) - - 210,000 8,945,000 - - - 1,250,022 - - - 14,260 - 8,601,026 11,074,206 30,818,738 - (1,000,000) (7,310,266) (20,125,250) - 7,601,026 3,973,940 20,902,770 (13,109) 3,620,395 11,895,812 10,554,065 2,388,410 - 41,583,853 85,454,734 2,375,301$ 3,620,395$ 53,479,665$ 96,008,799$ 150
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Major Governmental Funds
Capital Projects Funds - River West TIF
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 16,247,264$ 18,120,969$ 18,120,969$ -$
Intergovernmental 397,000 1,251,707 1,251,707 -
Investment income 178,188 154,188 153,650 (538)
Other - 22,900 22,900 -
Total revenues 16,822,452 19,549,764 19,549,226 (538)
Expenditures:
Current:
Economic development:
Other services and charges 5,865,433 5,596,780 5,556,519 40,261
Capital outlay 3,512,515 7,260,635 4,873,092 2,387,543
Total expenditures 9,377,948 12,857,415 10,429,611 2,427,804
Other Financing Sources (Uses):
Transfers in 90,000 657,593 585,315 (72,278)
Transfers out (5,013,803) (5,013,803) (5,013,303) 500
Net change in fund balances 2,520,701 2,336,139 4,691,627 2,355,488
Fund balances - Beginning 29,039,261 29,039,261 29,039,261 -
Fund balances - Ending 31,559,962$ 31,375,400$ 33,730,888$ 2,355,488$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 4,691,627$
To adjust revenues for accruals (193,235)
To adjust expenditures for accruals 23,343
Net change in fund balance, GAAP basis 4,521,735$
151
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
Special Revenue Funds - Motor Vehicle Highway
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Licenses and permits 3,000$ 3,000$ 1,975$ (1,025)$
Intergovernmental 3,041,250 3,327,401 3,327,401 -
Charges for services 232,670 232,670 224,847 (7,823)
Investment income 26,878 26,878 23,518 (3,360)
Other 155,463 173,489 179,328 5,839
Total revenues 3,459,261 3,763,438 3,757,069 (6,369)
Expenditures:
Current:
Highways and streets:
Personnel services 4,235,138 4,229,138 3,995,001 234,137
Supplies 850,775 1,010,352 898,714 111,638
Other services and charges 4,137,494 3,667,874 3,507,492 160,382
Capital outlay 1,676,108 1,571,080 1,571,080 -
Total expenditures 10,899,515 10,478,444 9,972,287 506,157
Other Financing Sources (Uses):
Debt proceeds - 890,000 890,000 -
Proceeds from sale of capital assets - - 12,696 12,696
Transfers in 3,500,000 3,500,000 3,500,000 -
Net change in fund balances (3,940,254) (2,325,006) (1,812,522) 512,484
Fund balances - Beginning 6,607,820 6,607,820 6,607,820 -
Fund balances - Ending 2,667,566$ 4,282,814$ 4,795,298$ 512,484$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (1,812,522)$
To adjust revenues for accruals (26,105)
To adjust expenditures for accruals (138,825)
Net change in fund balance, GAAP basis (1,977,452)$
152
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Studebaker Oliver Revitalization Grants
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 3,388$ 4,318$ 4,318$ -$
Other 100,000 - - -
Total revenues 103,388 4,318 4,318 -
Expenditures:
Current:
Economic development:
Other services and charges 59,671 109,228 75,182 34,046
Total expenditures 59,671 109,228 75,182 34,046
Net change in fund balances 43,717 (104,910) (70,864) 34,046
Fund balances - Beginning 763,112 763,112 763,112 -
Fund balances - Ending 806,829$ 658,202$ 692,248$ 34,046$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (70,864)$
To adjust revenues for accruals (4,308)
To adjust expenditures for accruals 8,308
Net change in fund balance, GAAP basis (66,864)$
153
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Economic Development State Grants
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ 575,000$ 41,015$ (533,985)$
Investment income 544 544 160 (384)
Other 72,011 72,011 36,005 (36,006)
Total revenues 72,555 647,555 77,180 (570,375)
Expenditures:
Current:
Economic development:
Other services and charges 84,517 77,459 77,457 2
Total expenditures 84,517 77,459 77,457 2
Net change in fund balances (11,962) 570,096 (277) (570,373)
Fund balances - Beginning 27,154 27,154 27,154 -
Fund balances - Ending 15,192$ 597,250$ 26,877$ (570,373)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (277)$
To adjust revenues for accruals (35,764)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (36,041)$
154
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Economic Development State Grants
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 552,550$ 18,550$ 9,200$ (9,350)$
Charges for services 483,267 1,047,267 1,453,279 406,012
Fines and forfeitures 56,840 56,840 57,904 1,064
Investment income 15,000 15,000 6,023 (8,977)
Other 175,765 145,765 146,338 573
Total revenues 1,283,422 1,283,422 1,672,744 389,322
Expenditures:
Current:
Economic development:
Personnel services 2,637,998 2,672,090 2,429,268 242,822
Supplies 32,621 28,569 20,424 8,145
Other services and charges 1,384,939 1,114,365 896,491 217,874
Total expenditures 4,055,558 3,815,024 3,346,183 468,841
Other Financing Sources (Uses):
Transfers in 1,752,159 1,752,159 500,000 (1,252,159)
Transfers out (50,000) (50,000) (50,000) -
Net change in fund balances (1,069,977) (829,443) (1,223,439) (393,996)
Fund balances - Beginning 1,629,498 1,629,498 1,629,498 -
Fund balances - Ending 559,521$ 800,055$ 406,059$ (393,996)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (1,223,439)$
To adjust revenues for accruals (6,502)
To adjust expenditures for accruals (1,800)
Net change in fund balance, GAAP basis (1,231,741)$
155
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - DCI Federal Grants
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 3,150,111$ 8,650,111$ 2,563,504$ (6,086,607)$
Fines and forfeitures - 500 500 -
Other 119,687 325,930 341,376 15,446
Total revenues 3,269,798 8,976,541 2,905,380 (6,071,161)
Expenditures:
Current:
Economic development:
Other services and charges 6,008,550 2,811,571 2,811,571 -
Total expenditures 6,008,550 2,811,571 2,811,571 -
Net change in fund balances (2,738,752) 6,164,970 93,809 (6,071,161)
Fund balances - Beginning 313,907 313,907 313,907 -
Fund balances - Ending (2,424,845)$ 6,478,877$ 407,716$ (6,071,161)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 93,809$
To adjust revenues for accruals (11,110)
To adjust expenditures for accruals (10,656)
Net change in fund balance, GAAP basis 72,043$
156
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Police State Seizure
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 10,000$ 22,670$ 22,670$ -$
Investment income 1,415 993 993 -
Total revenues 11,415 23,663 23,663 -
Expenditures:
Current:
Public safety:
Other services and charges 22,000 22,000 - 22,000
Capital outlay 75,043 75,043 71,043 4,000
Total expenditures 97,043 97,043 71,043 26,000
Other Financing Sources (Uses):
Transfers in - 7,636 7,636 -
Net change in fund balances (85,628) (65,744) (39,744) 26,000
Fund balances - Beginning 213,569 213,569 213,569 -
Fund balances - Ending 127,941$ 147,825$ 173,825$ 26,000$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (39,744)$
To adjust revenues for accruals (1,156)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (40,900)$
157
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Gift, Donation, Bequest
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 5,630$ 6,480$ 6,884$ 404$
Other 490,506 613,486 471,608 (141,878)
Total revenues 496,136 619,966 478,492 (141,474)
Expenditures:
Current:
General government:
Supplies 5,000 5,000 - 5,000
Other services and charges 801,105 637,310 481,425 155,885
Total expenditures 806,105 642,310 481,425 160,885
Net change in fund balances (309,969) (22,344) (2,933) 19,411
Fund balances - Beginning 981,455 981,455 981,455 -
Fund balances - Ending 671,486$ 959,111$ 978,522$ 19,411$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (2,933)$
To adjust revenues for accruals (5,759)
To adjust expenditures for accruals (20,719)
Net change in fund balance, GAAP basis (29,411)$
158
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Police Curfew Violation
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Fines and forfeitures 200$ 1,000$ -$ (1,000)$
Investment income 158 158 82 (76)
Total revenues 358 1,158 82 (1,076)
Expenditures:
Current:
Public safety:
Other services and charges 1,000 1,000 - 1,000
Total expenditures 1,000 1,000 - 1,000
Net change in fund balances (642) 158 82 (76)
Fund balances - Beginning 13,799 13,799 13,799 -
Fund balances - Ending 13,157$ 13,957$ 13,881$ (76)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 82$
To adjust revenues for accruals (82)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis -$
159
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Unsafe Building
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Fines and forfeitures 111,100$ 111,100$ 34,066$ (77,034)$
Investment income 11,932 11,932 4,812 (7,120)
Total revenues 123,032 123,032 38,878 (84,154)
Expenditures:
Current:
General government:
Other services and charges 113,805 113,805 107,286 6,519
Total expenditures 113,805 113,805 107,286 6,519
Net change in fund balances 9,227 9,227 (68,408) (77,635)
Fund balances - Beginning 832,938 832,938 832,938 -
Fund balances - Ending 842,165$ 842,165$ 764,530$ (77,635)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (68,408)$
To adjust revenues for accruals (4,724)
To adjust expenditures for accruals 1,210
Net change in fund balance, GAAP basis (71,922)$
160
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Law Enforcement Continuing Education
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ -$ 41,980$ 41,980$
Charges for services 130,000 134,077 115,024 (19,053)
Fines and forfeitures 111,000 129,740 89,648 (40,092)
Investment income 2,937 2,937 2,229 (708)
Other 16,000 3,970 3,470 (500)
Total revenues 259,937 270,724 252,351 (18,373)
Expenditures:
Current:
Public safety:
Supplies 137,706 204,508 193,652 10,856
Other services and charges 194,624 274,004 229,333 44,671
Total expenditures 332,330 478,512 422,985 55,527
Other Financing Sources (Uses):
Transfers in - - 73,512 73,512
Net change in fund balances (72,393) (207,788) (97,122) 110,666
Fund balances - Beginning 483,549 483,549 483,549 -
Fund balances - Ending 411,156$ 275,761$ 386,427$ 110,666$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (97,122)$
To adjust revenues for accruals (2,583)
To adjust expenditures for accruals 34,704
Net change in fund balance, GAAP basis (65,001)$
161
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Rental Units Regulation
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Fines and forfeitures 100,000$ 100,000$ 6,880$ (93,120)$
Investment income 200 690 728 38
Total revenues 100,200 100,690 7,608 (93,082)
Expenditures:
Current:
General government:
Personnel services 266,577 266,577 159,046 107,531
Supplies 5,800 5,800 236 5,564
Other services and charges 96,200 49,529 - 49,529
Total expenditures 368,577 321,906 159,282 162,624
Other Financing Sources (Uses):
Transfers in 241,527 241,527 50,000 (191,527)
Net change in fund balances (26,850) 20,311 (101,674) (121,985)
Fund balances - Beginning 189,090 189,090 189,090 -
Fund balances - Ending 162,240$ 209,401$ 87,416$ (121,985)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (101,674)$
To adjust revenues for accruals (859)
To adjust expenditures for accruals 1,331
Net change in fund balance, GAAP basis (101,202)$
162
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Loss Recovery
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 5,536$ 2,515$ 2,515$ -$
Total revenues 5,536 2,515 2,515 -
Expenditures:
Current:
General government:
Other services and charges 69,630 69,630 69,630 -
Total expenditures 69,630 69,630 69,630 -
Net change in fund balances (64,094) (67,115) (67,115) -
Fund balances - Beginning 481,214 481,214 481,214 -
Fund balances - Ending 417,120$ 414,099$ 414,099$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (67,115)$
To adjust revenues for accruals (2,660)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (69,775)$
163
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Code Enforcement
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Licenses and permits 31,200$ 31,200$ 43,555$ 12,355$
Charges for services 53,250 53,250 47,624 (5,626)
Fines and forfeitures 304,000 304,000 411,114 107,114
Investment income - 930 941 11
Other 37,433 37,433 36,142 (1,291)
Total revenues 425,883 426,813 539,376 112,563
Expenditures:
Current:
General government:
Personnel services 2,085,672 2,095,672 1,986,353 109,319
Supplies 165,536 146,671 110,837 35,834
Other services and charges 1,735,355 1,754,377 1,223,266 531,111
Capital outlay 80,000 80,000 49,478 30,522
Total expenditures 4,066,563 4,076,720 3,369,934 706,786
Other Financing Sources (Uses):
Debt proceeds - 235,000 235,000 -
Proceeds from sale of capital assets - - 1,564 1,564
Transfers in 3,573,687 3,573,687 2,290,000 (1,283,687)
Net change in fund balances (66,993) 158,780 (303,994) (462,774)
Fund balances - Beginning 803,572 803,572 803,572 -
Fund balances - Ending 736,579$ 962,352$ 499,578$ (462,774)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (303,994)$
To adjust revenues for accruals (3,047)
To adjust expenditures for accruals 500
Net change in fund balance, GAAP basis (306,541)$
164
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Local Road and Street
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 1,889,462$ 2,610,026$ 2,610,026$ -$
Investment income 7,007 18,850 18,850 -
Total revenues 1,896,469 2,628,876 2,628,876 -
Expenditures:
Current:
Highways and streets:
Supplies 400,548 367,364 367,364 -
Other services and charges 1,313,250 1,272,301 1,002,386 269,915
Capital outlay 915,452 612,685 543,198 69,487
Total expenditures 2,629,250 2,252,350 1,912,948 339,402
Other Financing Sources (Uses):
Transfers out (2,000,000) (2,000,000) (2,000,000) -
Net change in fund balances (2,732,781) (1,623,474) (1,284,072) 339,402
Fund balances - Beginning 3,632,884 3,632,884 3,632,884 -
Fund balances - Ending 900,103$ 2,009,410$ 2,348,812$ 339,402$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (1,284,072)$
To adjust revenues for accruals (18,158)
To adjust expenditures for accruals 135,721
Net change in fund balance, GAAP basis (1,166,509)$
165
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - LOIT 2016 Special Distribution
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 129$ 1,469$ 1,469$ -$
Other - 1,500 1,500 -
Total revenues 129 2,969 2,969 -
Expenditures:
Current:
Highways and streets:
Other services and charges 6,004 106,004 3,762 102,242
Capital outlay 103,459 46,509 20,166 26,343
Total expenditures 109,463 152,513 23,928 128,585
Net change in fund balances (109,334) (149,544) (20,959) 128,585
Fund balances - Beginning 266,588 266,588 266,588 -
Fund balances - Ending 157,254$ 117,044$ 245,629$ 128,585$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (20,959)$
To adjust revenues for accruals (1,513)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (22,472)$
166
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Human Rights Federal Grants
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 143,200$ 160,473$ 162,140$ 1,667$
Charges for services - 10,833 10,833 -
Investment income - 2,417 2,417 -
Other 2,050 2,050 - (2,050)
Total revenues 145,250 175,773 175,390 (383)
Expenditures:
Current:
General government:
Personnel services 173,692 173,692 163,721 9,971
Supplies 2,000 8,500 3,864 4,636
Other services and charges 55,900 92,974 67,420 25,554
Total expenditures 231,592 275,166 235,005 40,161
Net change in fund balances (86,342) (99,393) (59,615) 39,778
Fund balances - Beginning 486,159 486,159 486,159 -
Fund balances - Ending 399,817$ 386,766$ 426,544$ 39,778$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (59,615)$
To adjust revenues for accruals (2,707)
To adjust expenditures for accruals 28,554
Net change in fund balance, GAAP basis (33,768)$
167
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - COVID-19 Response
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ 2,531,756$ 1,490,275$ (1,041,481)$
Other - 5,000 5,000 -
Total revenues - 2,536,756 1,495,275 (1,041,481)
Expenditures:
Current:
General government:
Supplies 18,587 18,587 18,318 269
Other services and charges 2,286,271 2,366,226 1,977,914 388,312
Total expenditures 2,304,858 2,384,813 1,996,232 388,581
Other Financing Sources (Uses):
Transfers in - 1,500,000 1,448,093 (51,907)
Transfers out - (1,000,000) (1,000,000) -
Net change in fund balances (2,304,858) 651,943 (52,864) (704,807)
Fund balances - Beginning 53,214 53,214 53,214 -
Fund balances - Ending (2,251,644)$ 705,157$ 350$ (704,807)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (52,864)$
To adjust revenues for accruals -
To adjust expenditures for accruals 237,081
Net change in fund balance, GAAP basis 184,217$
168
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Local Road and Bridge Grant
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 1,000,000$ 1,141,172$ 791,072$ (350,100)$
Investment income 10 4,010 4,832 822
Total revenues 1,000,010 1,145,182 795,904 (349,278)
Expenditures:
Current:
Highways and streets:
Other services and charges 2,975,480 2,497,142 2,482,521 14,621
Total expenditures 2,975,480 2,497,142 2,482,521 14,621
Other Financing Sources (Uses):
Transfers in 1,000,000 1,000,000 1,000,000 -
Net change in fund balances (975,470) (351,960) (686,617) (334,657)
Fund balances - Beginning 1,391,493 1,391,493 1,391,493 -
Fund balances - Ending 416,023$ 1,039,533$ 704,876$ (334,657)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (686,617)$
To adjust revenues for accruals (6,470)
To adjust expenditures for accruals 623,606
Net change in fund balance, GAAP basis (69,481)$
169
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - MVH Restricted
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 3,041,250$ 3,204,129$ 3,204,129$ -$
Investment income 187 9,704 9,704 -
Total revenues 3,041,437 3,213,833 3,213,833 -
Expenditures:
Current:
Highways and streets:
Personnel services 493,372 499,372 358,626 140,746
Supplies 1,220,912 1,136,317 1,099,093 37,224
Other services and charges 1,512,302 1,234,302 818,145 416,157
Capital outlay - 15,800 15,800 -
Total expenditures 3,226,586 2,885,791 2,291,664 594,127
Net change in fund balances (185,149) 328,042 922,169 594,127
Fund balances - Beginning 1,126,297 1,126,297 1,126,297 -
Fund balances - Ending 941,148$ 1,454,339$ 2,048,466$ 594,127$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 922,169$
To adjust revenues for accruals (8,893)
To adjust expenditures for accruals 2,870
Net change in fund balance, GAAP basis 916,146$
170
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Morris and Palais Marketing
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 5,000$ 5,000$ 4,983$ (17)$
Investment income 578 578 453 (125)
Other - 500 500 -
Total revenues 5,578 6,078 5,936 (142)
Expenditures:
Current:
Culture and recreation:
Other services and charges 29,984 29,984 7,648 22,336
Total expenditures 29,984 29,984 7,648 22,336
Net change in fund balances (24,406) (23,906) (1,712) 22,194
Fund balances - Beginning 76,521 76,521 76,521 -
Fund balances - Ending 52,115$ 52,615$ 74,809$ 22,194$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (1,712)$
To adjust revenues for accruals (445)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (2,157)$
171
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Morris PAC Self-Promotion Events
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 65,000$ 65,000$ 37,223$ (27,777)$
Investment income 1,737 1,737 1,355 (382)
Total revenues 66,737 66,737 38,578 (28,159)
Expenditures:
Current:
Culture and recreation:
Other services and charges 115,000 115,000 - 115,000
Total expenditures 115,000 115,000 - 115,000
Net change in fund balances (48,263) (48,263) 38,578 86,841
Fund balances - Beginning 225,432 225,432 225,432 -
Fund balances - Ending 177,169$ 177,169$ 264,010$ 86,841$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 38,578$
To adjust revenues for accruals (1,420)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 37,158$
172
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Police Block Grants
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 56$ 56$ 24$ (32)$
Total revenues 56 56 24 (32)
Net change in fund balances 56 56 24 (32)
Fund balances - Beginning 4,138 4,138 4,138 -
Fund balances - Ending 4,194$ 4,194$ 4,162$ (32)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 24$
To adjust revenues for accruals (24)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis -$
173
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Hazmat
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 10,000$ 10,000$ -$ (10,000)$
Investment income 376 376 165 (211)
Total revenues 10,376 10,376 165 (10,211)
Expenditures:
Current:
Public safety:
Supplies 10,000 10,000 - 10,000
Total expenditures 10,000 10,000 - 10,000
Net change in fund balances 376 376 165 (211)
Fund balances - Beginning 27,937 27,937 27,937 -
Fund balances - Ending 28,313$ 28,313$ 28,102$ (211)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 165$
To adjust revenues for accruals (165)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis -$
174
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Indiana River Rescue
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 90,000$ 90,000$ 94,550$ 4,550$
Investment income 3,892 3,892 1,993 (1,899)
Other - 1,300 1,300 -
Total revenues 93,892 95,192 97,843 2,651
Expenditures:
Current:
Public safety:
Personnel services 5,500 - - -
Supplies 18,500 37,525 32,702 4,823
Other services and charges 68,300 47,716 20,433 27,283
Total expenditures 92,300 85,241 53,135 32,106
Net change in fund balances 1,592 9,951 44,708 34,757
Fund balances - Beginning 330,404 330,404 330,404 -
Fund balances - Ending 331,996$ 340,355$ 375,112$ 34,757$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 44,708$
To adjust revenues for accruals (2,016)
To adjust expenditures for accruals (2,060)
Net change in fund balance, GAAP basis 40,632$
175
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Police Grants
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ -$ -$ -$
Total revenues - - - -
Expenditures:
Current:
Public safety:
Other services and charges - - - -
Total expenditures - - - -
Net change in fund balances - - - -
Fund balances - Beginning 26,716 26,716 26,716 -
Fund balances - Ending 26,716$ 26,716$ 26,716$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis -$
To adjust revenues for accruals -
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis -$
176
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Regional Police Academy
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 20,000$ 25,000$ 19,625$ (5,375)$
Investment income 1,620 3,000 819 (2,181)
Total revenues 21,620 28,000 20,444 (7,556)
Expenditures:
Current:
Public safety:
Supplies 1,500 1,500 - 1,500
Other services and charges 15,750 15,750 100 15,650
Total expenditures 17,250 17,250 100 17,150
Net change in fund balances 4,370 10,750 20,344 9,594
Fund balances - Beginning 125,984 125,984 125,984 -
Fund balances - Ending 130,354$ 136,734$ 146,328$ 9,594$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 20,344$
To adjust revenues for accruals (790)
Net change in fund balance, GAAP basis 19,554$
177
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - COPS MORE Grant
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ 98,920$ 103,213$ 4,293$
Fines and forfeitures 10,000 10,000 7,312 (2,688)
Investment income 170 375 432 57
Other - 120 120 -
Total revenues 10,170 109,415 111,077 1,662
Expenditures:
Current:
Public safety:
Supplies 20,000 17,000 16,331 669
Other services and charges 20,000 11,065 6,214 4,851
Capital outlay 29,433 126,278 116,658 9,620
Total expenditures 69,433 154,343 139,203 15,140
Net change in fund balances (59,263) (44,928) (28,126) 16,802
Fund balances - Beginning 73,474 73,474 73,474 -
Fund balances - Ending 14,211$ 28,546$ 45,348$ 16,802$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (28,126)$
To adjust revenues for accruals (361)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (28,487)$
178
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Federal Drug Enforcement
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 25,000$ 57,919$ 57,919$ -$
Investment income 883 883 192 (691)
Total revenues 25,883 58,802 58,111 (691)
Expenditures:
Current:
Public safety:
Supplies 6,000 6,000 - 6,000
Capital outlay 22,500 22,500 - 22,500
Total expenditures 28,500 28,500 - 28,500
Other Financing Sources (Uses):
Transfers out - (81,148) (81,148) -
Net change in fund balances (2,617) (50,846) (23,037) 27,809
Fund balances - Beginning 83,275 83,275 83,275 -
Fund balances - Ending 80,658$ 32,429$ 60,238$ 27,809$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (23,037)$
To adjust revenues for accruals 8
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (23,029)$
179
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Urban Development Action Grant
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 572$ 572$ 172$ (400)$
Other 21,996 21,996 18,278 (3,718)
Total revenues 22,568 22,568 18,450 (4,118)
Expenditures:
Current:
Economic development:
Other services and charges 24,000 24,000 24,000 -
Total expenditures 24,000 24,000 24,000 -
Net change in fund balances (1,432) (1,432) (5,550) (4,118)
Fund balances - Beginning 32,733 32,733 32,733 -
Fund balances - Ending 31,301$ 31,301$ 27,183$ (4,118)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (5,550)$
To adjust revenues for accruals (18,457)
To adjust expenditures for accruals 24,000
Net change in fund balance, GAAP basis (7)$
180
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Leaf Collection and Removal
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 451,610$ 451,610$ 466,321$ 14,711$
Investment income 3,221 2,322 2,322 -
Total revenues 454,831 453,932 468,643 14,711
Expenditures:
Current:
Highways and streets:
Personnel services 79,575 79,575 43,841 35,734
Supplies 10,476 10,476 3,980 6,496
Other services and charges 44,236 44,236 39,529 4,707
Total expenditures 134,287 134,287 87,350 46,937
Other Financing Sources (Uses):
Transfers out (500,000) (500,000) (500,000) -
Net change in fund balances (179,456) (180,355) (118,707) 61,648
Fund balances - Beginning 425,913 425,913 425,913 -
Fund balances - Ending 246,457$ 245,558$ 307,206$ 61,648$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (118,707)$
To adjust revenues for accruals (2,145)
To adjust expenditures for accruals (7,932)
Net change in fund balance, GAAP basis (128,784)$
181
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Police K-9 Unit
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 5$ 25$ 14$ (11)$
Total revenues 5 25 14 (11)
Expenditures:
Current:
Public safety:
Other services and charges - - - -
Total expenditures - - - -
Net change in fund balances 5 25 14 (11)
Fund balances - Beginning 2,420 2,420 2,420 -
Fund balances - Ending 2,425$ 2,445$ 2,434$ (11)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 14$
To adjust revenues for accruals (14)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis -$
182
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - City Cemetery
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 134$ 178$ 178$ -$
Total revenues 134 178 178 -
Net change in fund balances 134 178 178 -
Fund balances - Beginning 30,041 30,041 30,041 -
Fund balances - Ending 30,175$ 30,219$ 30,219$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 178$
To adjust revenues for accruals (178)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis -$
183
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Bowman Cemetery
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 6,392$ 2,793$ 2,793$ -$
Total revenues 6,392 2,793 2,793 -
Net change in fund balances 6,392 2,793 2,793 -
Fund balances - Beginning 472,576 472,576 472,576 -
Fund balances - Ending 478,968$ 475,369$ 475,369$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 2,793$
To adjust revenues for accruals (2,784)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 9$
184
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Special Revenue Funds - Industrial Revolving Fund
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 699,000$ 7,689,000$ 2,658,410$ (5,030,590)$
Investment income - 20,001 380 (19,621)
Other 244,000 224,000 300,472 76,472
Total revenues 943,000 7,933,001 2,959,262 (4,973,739)
Expenditures:
Current:
Economic development:
Other services and charges 498,560 3,052,131 3,190,699 (138,568)
Total expenditures 498,560 3,052,131 3,190,699 (138,568)
Net change in fund balances 444,440 4,880,870 (231,437) (5,112,307)
Fund balances - Beginning 2,406,914 2,406,914 2,406,914 -
Fund balances - Ending 2,851,354$ 7,287,784$ 2,175,477$ (5,112,307)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (231,437)$
To adjust revenues for accruals (10,582)
To adjust expenditures for accruals 2,707,859
Net change in fund balance, GAAP basis 2,465,840$
185
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2017 Park Bond Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 1,100,842$ 1,116,956$ 1,116,956$ -$
Intergovernmental 45,280 68,319 68,319 -
Investment income 2,023 500 500 -
Total revenues 1,148,145 1,185,775 1,185,775 -
Expenditures:
Current:
Debt service:
Other services and charges 1,189,193 1,189,193 1,189,190 3
Total expenditures 1,189,193 1,189,193 1,189,190 3
Net change in fund balances (41,048) (3,418) (3,415) 3
Fund balances - Beginning 187,578 187,578 187,578 -
Fund balances - Ending 146,530$ 184,160$ 184,163$ 3$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (3,415)$
To adjust revenues for accruals (1,093)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (4,508)$
186
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2003 Redevelopment Bond - Airport Taxable
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 40,000$ 40,000$ 6,133$ (33,867)$
Total revenues 40,000 40,000 6,133 (33,867)
Other Financing Sources (Uses):
Transfers out (40,000) (40,000) (6,133) 33,867
Net change in fund balances - - - -
Fund balances - Beginning 1,040,462 1,040,462 1,040,462 -
Fund balances - Ending 1,040,462$ 1,040,462$ 1,040,462$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis -$
To adjust revenues for accruals (6,706)
To adjust expenditures for accruals 937
Net change in fund balance, GAAP basis (5,769)$
187
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2003 Redevelopment Bond - Palais Royale
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 50,000$ 50,000$ 10,253$ (39,747)$
Total revenues 50,000 50,000 10,253 (39,747)
Other Financing Sources (Uses):
Transfers out (50,000) (50,000) (10,253) 39,747
Net change in fund balances - - - -
Fund balances - Beginning 1,739,495 1,739,495 1,739,495 -
Fund balances - Ending 1,739,495$ 1,739,495$ 1,739,495$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis -$
To adjust revenues for accruals (11,212)
To adjust expenditures for accruals 1,567
Net change in fund balance, GAAP basis (9,645)$
188
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2018 Fire Station #9 Bond Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Expenditures:
Current:
Debt service:
Other services and charges 345,307$ 345,307$ 345,306$ 1$
Total expenditures 345,307 345,307 345,306 1
Other Financing Sources (Uses):
Transfers in 345,307 345,307 345,306 (1)
Net change in fund balances - - - -
Fund balances - Beginning - - - -
Fund balances - Ending -$ -$ -$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis -$
To adjust revenues for accruals -
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis -$
189
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2018 TIF Park Bond Debt Service Reserve
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 6,085$ 6,085$ -$
Total revenues - 6,085 6,085 -
Net change in fund balances - 6,085 6,085 -
Fund balances - Beginning 1,029,665 1,029,665 1,029,665 -
Fund balances - Ending 1,029,665$ 1,035,750$ 1,035,750$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 6,085$
To adjust revenues for accruals (6,066)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 19$
190
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2019 South Shore Double Tracking Bond Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 3$ 3$ -$
Total revenues - 3 3 -
Expenditures:
Current:
Debt service:
Other services and charges 1,027,750 1,027,750 1,027,750 -
Total expenditures 1,027,750 1,027,750 1,027,750 -
Other Financing Sources (Uses):
Transfers in 1,036,500 1,036,500 1,036,500 -
Net change in fund balances 8,750 8,753 8,753 -
Fund balances - Beginning 690 690 690 -
Fund balances - Ending 9,440$ 9,443$ 9,443$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 8,753$
To adjust revenues for accruals -
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 8,753$
191
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2020 TIF Library Bond Debt Service Reserve
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 15$ 16$ 1$
Total revenues - 15 16 1
Other Financing Sources (Uses):
Transfers out - (11) (11) -
Net change in fund balances - 4 5 1
Fund balances - Beginning 326,939 326,939 326,939 -
Fund balances - Ending 326,939$ 326,943$ 326,944$ 1$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 5$
To adjust revenues for accruals 2
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 7$
192
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - Century Center Energy Conservation Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 221,437$ 221,437$ 221,437$ -$
Investment income 1,200 1,555 1,574 19
Other 88,057 88,057 89,480 1,423
Total revenues 310,694 311,049 312,491 1,442
Expenditures:
Current:
Debt service:
Other services and charges 406,711 406,711 406,711 -
Total expenditures 406,711 406,711 406,711 -
Other Financing Sources (Uses):
Transfers in 97,217 97,217 97,217 -
Net change in fund balances 1,200 1,555 2,997 1,442
Fund balances - Beginning 193,705 193,705 193,705 -
Fund balances - Ending 194,905$ 195,260$ 196,702$ 1,442$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 2,997$
To adjust revenues for accruals (848)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 2,149$
193
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - Redevelopment Authority Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 4,500$ 4,500$ 71$ (4,429)$
Total revenues 4,500 4,500 71 (4,429)
Expenditures:
Current:
Debt service:
Other services and charges 2,858,669 2,858,669 2,856,069 2,600
Total expenditures 2,858,669 2,858,669 2,856,069 2,600
Other Financing Sources (Uses):
Transfers in 2,866,000 2,866,000 2,866,000 -
Net change in fund balances 11,831 11,831 10,002 (1,829)
Fund balances - Beginning 232,423 232,423 232,423 -
Fund balances - Ending 244,254$ 244,254$ 242,425$ (1,829)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 10,002$
To adjust revenues for accruals 4
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 10,006$
194
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - South Bend Building Corporation Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 4,000$ 4,000$ 58$ (3,942)$
Total revenues 4,000 4,000 58 (3,942)
Expenditures:
Current:
Debt service:
Other services and charges 2,307,705 2,787,665 2,785,015 2,650
Total expenditures 2,307,705 2,787,665 2,785,015 2,650
Other Financing Sources (Uses):
Debt proceeds - 8,860,022 8,860,022 -
Transfers in 2,311,000 2,564,000 2,564,000 -
Transfers out - (9,248,224) (9,248,224) -
Net change in fund balances 7,295 (607,867) (609,159) (1,292)
Fund balances - Beginning 833,535 833,535 833,535 -
Fund balances - Ending 840,830$ 225,668$ 224,376$ (1,292)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (609,159)$
To adjust revenues for accruals (41,697)
To adjust expenditures for accruals 119,683
Net change in fund balance, GAAP basis (531,173)$
195
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2015 Smart Streets Bond Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 3,000$ 3,000$ 91$ (2,909)$
Total revenues 3,000 3,000 91 (2,909)
Expenditures:
Current:
Debt service:
Other services and charges 1,712,819 1,712,819 1,712,469 350
Total expenditures 1,712,819 1,712,819 1,712,469 350
Other Financing Sources (Uses):
Transfers in 1,716,500 1,716,500 1,716,000 (500)
Net change in fund balances 6,681 6,681 3,622 (3,059)
Fund balances - Beginning 1,739,076 1,739,076 1,739,076 -
Fund balances - Ending 1,745,757$ 1,745,757$ 1,742,698$ (3,059)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 3,622$
To adjust revenues for accruals 8
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 3,630$
196
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2015 Park Bond Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 2,000$ 2,000$ 47$ (1,953)$
Total revenues 2,000 2,000 47 (1,953)
Expenditures:
Current:
Debt service:
Other services and charges 374,382 374,382 374,381 1
Total expenditures 374,382 374,382 374,381 1
Other Financing Sources (Uses):
Transfers in 376,007 376,007 375,986 (21)
Net change in fund balances 3,625 3,625 1,652 (1,973)
Fund balances - Beginning 586,111 586,111 586,111 -
Fund balances - Ending 589,736$ 589,736$ 587,763$ (1,973)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 1,652$
To adjust revenues for accruals 5
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 1,657$
197
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Debt Service Funds - 2017 Eddy St. Commons Bond Debt Service
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 2,000$ 2,000$ 47$ (1,953)$
Total revenues 2,000 2,000 47 (1,953)
Expenditures:
Current:
Debt service:
Other services and charges 374,382 374,382 374,381 1
Total expenditures 374,382 374,382 374,381 1
Other Financing Sources (Uses):
Transfers in 376,007 376,007 375,986 (21)
Net change in fund balances 3,625 3,625 1,652 (1,973)
Fund balances - Beginning 586,111 586,111 586,111 -
Fund balances - Ending 589,736$ 589,736$ 587,763$ (1,973)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 1,652$
To adjust revenues for accruals 5
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 1,657$
198
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Fire Department Capital
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 75,000$ 75,000$ -$ (75,000)$
Charges for services 1,837,850 1,837,850 1,905,360 67,510
Fines and forfeitures - 300 300 -
Investment income 11,814 11,814 8,474 (3,340)
Other - - 1,334 1,334
Total revenues 1,924,664 1,924,964 1,915,468 (9,496)
Expenditures:
Current:
Public safety:
Other services and charges 745,767 745,767 698,771 46,996
Capital outlay 2,190,702 1,376,236 1,029,049 347,187
Total expenditures 2,936,469 2,122,003 1,727,820 394,183
Other Financing Sources (Uses):
Debt proceeds - 210,000 210,000 -
Transfers out (750,307) (750,307) (750,306) 1
Net change in fund balances (1,762,112) (737,346) (352,658) 384,688
Fund balances - Beginning 3,111,296 3,111,296 3,111,296 -
Fund balances - Ending 1,349,184$ 2,373,950$ 2,758,638$ 384,688$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (352,658)$
To adjust revenues for accruals (9,334)
To adjust expenditures for accruals 99,331
Net change in fund balance, GAAP basis (262,661)$
199
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Coveleski Stadium Capital
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 30,000$ 30,000$ -$ (30,000)$
Investment income 351 351 58 (293)
Total revenues 30,351 30,351 58 (30,293)
Expenditures:
Current:
Culture and recreation:
Other services and charges 30,000 29,285 10,183 19,102
Total expenditures 30,000 29,285 10,183 19,102
Net change in fund balances 351 1,066 (10,125) (11,191)
Fund balances - Beginning 11,685 11,685 11,685 -
Fund balances - Ending 12,036$ 12,751$ 1,560$ (11,191)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (10,125)$
To adjust revenues for accruals (42)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (10,167)$
200
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Cumulative Capital Development
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 411,061$ 469,124$ 469,124$ -$
Intergovernmental 5,364 41,568 41,568 -
Investment income 1,053 928 928 -
Total revenues 417,478 511,620 511,620 -
Expenditures:
Current:
General government:
Other services and charges 395,699 395,699 394,767 932
Capital outlay 1,419 1,419 - 1,419
Total expenditures 397,118 397,118 394,767 2,351
Net change in fund balances 20,360 114,502 116,853 2,351
Fund balances - Beginning 169,893 169,893 169,893 -
Fund balances - Ending 190,253$ 284,395$ 286,746$ 2,351$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 116,853$
To adjust revenues for accruals (1,289)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 115,564$
201
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Cumulative Capital Improvement
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental 226,548$ 207,751$ 207,761$ 10$
Investment income 7,058 7,058 3,682 (3,376)
Other 25,000 25,000 25,000 -
Total revenues 258,606 239,809 236,443 (3,366)
Other Financing Sources (Uses):
Transfers out (262,145) (262,145) (262,145) -
Net change in fund balances (3,539) (22,336) (25,702) (3,366)
Fund balances - Beginning 676,798 676,798 676,798 -
Fund balances - Ending 673,259$ 654,462$ 651,096$ (3,366)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (25,702)$
To adjust revenues for accruals (3,913)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis (29,615)$
202
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Major Moves
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Intergovernmental -$ 84,756$ 84,756$ -$
Investment income 7,533 9,556 9,556 -
Other 493,329 493,329 493,328 (1)
Total revenues 500,862 587,641 587,640 (1)
Expenditures:
Current:
Highways and streets:
Supplies 450,000 - - -
Other services and charges 194,163 154,925 57,027 97,898
Capital outlay 102,896 102,896 27,855 75,041
Total expenditures 747,059 257,821 84,882 172,939
Net change in fund balances (246,197) 329,820 502,758 172,938
Fund balances - Beginning 1,386,436 1,386,436 1,386,436 -
Fund balances - Ending 1,140,239$ 1,716,256$ 1,889,194$ 172,938$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 502,758$
To adjust revenues for accruals (436,432)
To adjust expenditures for accruals 1,717
Net change in fund balance, GAAP basis 68,043$
203
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Morris Performing Arts Center Capital
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 65,000$ 65,000$ 37,223$ (27,777)$
Investment income 2,175 2,175 1,057 (1,118)
Total revenues 67,175 67,175 38,280 (28,895)
Expenditures:
Current:
Culture and recreation:
Supplies 25,000 15,000 14,811 189
Other services and charges 26,625 1,715 90 1,625
Capital outlay - 113,550 113,550 -
Total expenditures 51,625 130,265 128,451 1,814
Other Financing Sources (Uses):
Transfers in - 2,350,000 1,800,000 (550,000)
Net change in fund balances 15,550 2,286,910 1,709,829 (577,081)
Fund balances - Beginning 203,098 203,098 203,098 -
Fund balances - Ending 218,648$ 2,490,008$ 1,912,927$ (577,081)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 1,709,829$
To adjust revenues for accruals (5,440)
To adjust expenditures for accruals (17,030)
Net change in fund balance, GAAP basis 1,687,359$
204
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Redevelopment General
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - local income tax 8,007$ 3,543$ 3,543$ -$
Investment income 26,301 13,014 13,014 -
Other 1,000,000 1,411,887 1,412,877 990
Total revenues 1,034,308 1,428,444 1,429,434 990
Expenditures:
Current:
Economic development:
Other services and charges 163,297 828,014 538,363 289,651
Total expenditures 163,297 828,014 538,363 289,651
Other Financing Sources (Uses):
Transfers in 150,000 150,000 - (150,000)
Transfers out - (147,786) (147,786) -
Net change in fund balances 1,021,011 602,644 743,285 140,641
Fund balances - Beginning 2,444,710 2,444,710 2,444,710 -
Fund balances - Ending 3,465,721$ 3,047,354$ 3,187,995$ 140,641$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 743,285$
To adjust revenues for accruals (16,211)
To adjust expenditures for accruals (86,005)
Net change in fund balance, GAAP basis 641,069$
205
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - TIF - West Washington
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 287,082$ 348,856$ 348,856$ -$
Investment income 4,881 7,164 7,164 -
Total revenues 291,963 356,020 356,020 -
Expenditures:
Current:
Economic development:
Other services and charges - 45,544 45,544 -
Capital outlay 250,822 202,738 202,738 -
Total expenditures 250,822 248,282 248,282 -
Net change in fund balances 41,141 107,738 107,738 -
Fund balances - Beginning 1,127,293 1,127,293 1,127,293 -
Fund balances - Ending 1,168,434$ 1,235,031$ 1,235,031$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 107,738$
To adjust revenues for accruals (6,891)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 100,847$
206
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - TIF - River East Development
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 2,560,473$ 4,328,968$ 4,328,968$ -$
Investment income 22,737 39,992 39,992 -
Other - 74,326 74,327 1
Total revenues 2,583,210 4,443,286 4,443,287 1
Expenditures:
Current:
Economic development:
Other services and charges 111,844 68,134 68,133 1
Capital outlay 2,270,343 1,336,457 1,336,457 -
Total expenditures 2,382,187 1,404,591 1,404,590 1
Other Financing Sources (Uses):
Transfers in - 673,180 673,180 -
Net change in fund balances 201,023 3,711,875 3,711,877 2
Fund balances - Beginning 5,864,278 5,864,278 5,864,278 -
Fund balances - Ending 6,065,301$ 9,576,153$ 9,576,155$ 2$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 3,711,877$
To adjust revenues for accruals (28,305)
To adjust expenditures for accruals 141,323
Net change in fund balance, GAAP basis 3,824,895$
207
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - TIF - Southside Development Area No. 1
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 1,839,984$ 2,981,728$ 2,981,728$ -$
Investment income 49,667 75,461 75,461 -
Total revenues 1,889,651 3,057,189 3,057,189 -
Expenditures:
Current:
Economic development:
Other services and charges 190,446 162,661 162,661 -
Capital outlay 474,495 999,692 999,692 -
Total expenditures 664,941 1,162,353 1,162,353 -
Net change in fund balances 1,224,710 1,894,836 1,894,836 -
Fund balances - Beginning 12,586,134 12,586,134 12,586,134 -
Fund balances - Ending 13,810,844$ 14,480,970$ 14,480,970$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 1,894,836$
To adjust revenues for accruals (78,639)
To adjust expenditures for accruals 50,221
Net change in fund balance, GAAP basis 1,866,418$
208
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - TIF - Douglas Road
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 369,525$ 269,923$ 269,923$ -$
Investment income 296 687 687 -
Total revenues 369,821 270,610 270,610 -
Expenditures:
Current:
Economic development:
Other services and charges 16,108 14,800 14,800 -
Total expenditures 16,108 14,800 14,800 -
Other Financing Sources (Uses):
Transfers out - (91,370) (91,370) -
Net change in fund balances 353,713 164,440 164,440 -
Fund balances - Beginning 93,140 93,140 93,140 -
Fund balances - Ending 446,853$ 257,580$ 257,580$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 164,440$
To adjust revenues for accruals (956)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 163,484$
209
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - TIF - River East Residential
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Taxes - Property 5,712,495$ 6,299,000$ 6,299,000$ -$
Investment income 82,945 19,471 19,471 -
Total revenues 5,795,440 6,318,471 6,318,471 -
Expenditures:
Current:
Economic development:
Other services and charges 520,126 533,476 508,178 25,298
Total expenditures 520,126 533,476 508,178 25,298
Other Financing Sources (Uses):
Transfers out (4,180,375) (5,063,555) (5,058,659) 4,896
Net change in fund balances 1,094,939 721,440 751,634 30,194
Fund balances - Beginning 4,678,334 4,678,334 4,678,334 -
Fund balances - Ending 5,773,273$ 5,399,774$ 5,429,968$ 30,194$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 751,634$
To adjust revenues for accruals (29,355)
To adjust expenditures for accruals 427,037
Net change in fund balance, GAAP basis 1,149,316$
210
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Certified Technology Park
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 139$ 65$ 65$ -$
Total revenues 139 65 65 -
Net change in fund balances 139 65 65 -
Fund balances - Beginning 11,080 11,080 11,080 -
Fund balances - Ending 11,219$ 11,145$ 11,145$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 65$
To adjust revenues for accruals (65)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis -$
211
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Project Funds - Palais Royale Historical Preservation
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Charges for services 8,000$ 12,078$ 12,078$ -$
Investment income 369 493 493 -
Total revenues 8,369 12,571 12,571 -
Expenditures:
Current:
Culture and recreation:
Other services and charges 35,000 35,000 - 35,000
Total expenditures 35,000 35,000 - 35,000
Net change in fund balances (26,631) (22,429) 12,571 35,000
Fund balances - Beginning 80,911 80,911 80,911 -
Fund balances - Ending 54,280$ 58,482$ 93,482$ 35,000$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 12,571$
To adjust revenues for accruals (507)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 12,064$
212
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Airport Urban Enterprise Zone
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income 4,209$ 4,209$ 2,411$ (1,798)$
Total revenues 4,209 4,209 2,411 (1,798)
Net change in fund balances 4,209 4,209 2,411 (1,798)
Fund balances - Beginning 407,982 407,982 407,982 -
Fund balances - Ending 412,191$ 412,191$ 410,393$ (1,798)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 2,411$
To adjust revenues for accruals (2,403)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 8$
213
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - 2017 Park Bond Capital
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 30,000$ 31,461$ 1,461$
Total revenues - 30,000 31,461 1,461
Expenditures:
Current:
Culture and recreation:
Other services and charges 6,464 - - -
Capital outlay 5,453,274 1,695,211 1,695,211 -
Total expenditures 5,459,738 1,695,211 1,695,211 -
Net change in fund balances (5,459,738) (1,665,211) (1,663,750) 1,461
Fund balances - Beginning 5,926,118 5,926,118 5,926,118 -
Fund balances - Ending 466,380$ 4,260,907$ 4,262,368$ 1,461$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (1,663,750)$
To adjust revenues for accruals (30,679)
To adjust expenditures for accruals 271,945
Net change in fund balance, GAAP basis (1,422,484)$
214
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - 2018 Fire Station #9 Bond Capital
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 1,857$ 1,857$ -$
Total revenues - 1,857 1,857 -
Net change in fund balances - 1,857 1,857 -
Fund balances - Beginning 314,233 314,233 314,233 -
Fund balances - Ending 314,233$ 316,090$ 316,090$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 1,857$
To adjust revenues for accruals (1,851)
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 6$
215
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - 2018 TIF Park Bond Capital
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 15,033$ 15,033$ -$
Total revenues - 15,033 15,033 -
Expenditures:
Current:
Culture and recreation:
Other services and charges 13,351 1 - 1
Capital outlay 2,427,608 188,982 188,982 -
Total expenditures 2,440,959 188,983 188,982 1
Net change in fund balances (2,440,959) (173,950) (173,949) 1
Fund balances - Beginning 2,614,468 2,614,468 2,614,468 -
Fund balances - Ending 173,509$ 2,440,518$ 2,440,519$ 1$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis (173,949)$
To adjust revenues for accruals (14,912)
To adjust expenditures for accruals 175,752
Net change in fund balance, GAAP basis (13,109)$
216
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - 2021 Infrastructure Bond Capital
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 21,221$ 21,221$ -$
Total revenues - 21,221 21,221 -
Expenditures:
Current:
Highways and streets:
Capital outlay - 3,785,766 3,785,766 -
Total expenditures - 3,785,766 3,785,766 -
Other Financing Sources (Uses):
Transfers in - 8,601,026 8,601,026 -
Transfers out - (1,000,000) (1,000,000) -
Net change in fund balances - 3,836,481 3,836,481 -
Fund balances - Beginning - - - -
Fund balances - Ending -$ 3,836,481$ 3,836,481$ -$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 3,836,481$
To adjust revenues for accruals (9,530)
To adjust expenditures for accruals (206,556)
Net change in fund balance, GAAP basis 3,620,395$
217
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Projects Funds - Equipment Vehicle Leasing
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 20$ 17$ (3)$
Total revenues - 20 17 (3)
Net change in fund balances - 20 17 (3)
Fund balances - Beginning 347,680 347,680 347,680 -
Fund balances - Ending 347,680$ 347,700$ 347,697$ (3)$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 17$
To adjust revenues for accruals -
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 17$
218
City of South Bend, Indiana
Other Supplemental Information
Budgetary Comparison Schedule - Nonmajor Governmental Funds
(Continued)
Capital Project Funds - 2017 Eddy St. Commons Bond Capital
December 31, 2021
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues:
Investment income -$ 1$ 1$ -$
Total revenues - 1 1 -
Expenditures:
Current:
Economic development:
Capital outlay 25,681 25,681 - 25,681
Total expenditures 25,681 25,681 - 25,681
Net change in fund balances (25,681) (25,680) 1 25,681
Fund balances - Beginning 25,762 25,762 25,762 -
Fund balances - Ending 81$ 82$ 25,763$ 25,681$
Budget/GAAP Reconciliation
Net change in fund balance, budget basis 1$
To adjust revenues for accruals -
To adjust expenditures for accruals -
Net change in fund balance, GAAP basis 1$
219
City of South Bend, Indiana
Other Supplemental Information
Nonmajor Enterprise Funds
Fund Descriptions
NONMAJOR ENTERPRISE FUNDS
Century Center To account for the operations of the City’s convention center.
Consolidated Building To account for the operation of the consolidated St. Joseph County/ South Bend
Building Department.
Parking Garage To account for the operation and maintenance of the City's parking garages.
Solid Waste To account for the operations of the Solid Waste department. Revenues come from
charging City residents a monthly fee for pick-up and disposal of trash at area landfills
and recycling centers
Emergency Medical
Services
Previously used to account for the operations of Emergency Medical Services (EMS).
In 2020, the accounting for these operations was moved to the General Fund. The
remaining assets in this fund will be transferred to the General Fund in 2021 and this
fund will be closed.
Morris Performing Arts
Center
To account for the operation of the Morris Performing Arts Center. Financed by ticket
sales (for self-promoted events) and rent from promoters.
220
City of South Bend, Indiana
Combining Statement of Net Position
Nonmajor Enterprise Funds
December 31, 2021
Emergency Morris
Consolidated Medical Performing
Century Center Building Parking Garage Solid Waste Services Arts Center Total
Assets
Current assets:
Cash and cash equivalents 194,802$ 867,955$ 375,765$ 374,941$ -$ -$ 1,813,463$
Investments - 1,228,782 529,371 529,950 - - 2,288,103
Receivables:
Accounts 107,941 175 - 994,726 - - 1,102,842
Allowance for doubtful accounts - - - (25,000) - - (25,000)
Interest 8 1,197 516 520 - - 2,241
Taxes 400,000 - - - - - 400,000
Due from other funds - - - 2,216 - - 2,216
Inventory 34,404 - - - - - 34,404
Total current assets 737,155 2,098,109 905,652 1,877,353 - - 5,618,269
Noncurrent assets:
Restricted assets 987,536 8,834 - 792,077 - 5,074 1,793,521
Capital assets:
Assets not subject to depreciation 713,434 - 1,132,020 - - - 1,845,454
Assets subject to depreciation 14,063,493 59,838 4,568,089 2,455,950 - - 21,147,370
Total noncurrent assets 15,764,463 68,672 5,700,109 3,248,027 - 5,074 24,786,345
Total assets 16,501,618 2,166,781 6,605,761 5,125,380 - 5,074 30,404,614
Deferred outflows of resources
Deferred outflows related to pensions 65,273 149,660 - 190,690 - - 405,623
Deferred outflows related to OPEB 26,790 61,425 - 78,265 - - 166,480
Total deferred outflows of resources 92,063 211,085 - 268,955 - - 572,103
Liabilities
Current liabilities:
Accounts payable 51,885 859 19,616 95,481 - 11,968 179,809
Due to other funds 2,151 - 673 - - 1,086 3,910
Performance deposits payable - 7,000 - - - - 7,000
Accrued liabilities and other:
Accrued payroll payable 37,878 30,616 - 44,759 - 17,585 130,838
Accrued interest payable - 175 - 7,819 - - 7,994
Taxes payable 9,212 3,678 - 5,377 - 2,113 20,380
Other current payables 38,557 5,156 - 7,537 - 2,961 54,211
Customer deposits payable 108,952 - - - - - 108,952
Compensated absences 18,511 19,400 - 13,132 - 15,279 66,322
Capital leases - 23,593 - 789,522 - - 813,115
Total current liabilities 267,146 90,477 20,289 963,627 - 50,992 1,392,531
Noncurrent liabilities:
Capital leases - 4,673 - 1,186,887 - - 1,191,560
Net pension liability 81,018 185,760 - 236,687 - - 503,465
Total OPEB liability 139,665 320,227 - 408,020 - - 867,912
Total noncurrent liabilities 220,683 510,660 - 1,831,594 - - 2,562,937
Total liabilities 487,829 601,137 20,289 2,795,221 - 50,992 3,955,468
Deferred inflows of resources
Deferred inflows related to pensions 127,282 291,835 - 371,845 - - 790,962
Deferred inflows related to OPEB 52,064 119,374 - 152,102 - - 323,540
Total deferred inflows of resources 179,346 411,209 - 523,947 - - 1,114,502
Net position
Net investment in capital assets 14,776,927 31,572 5,700,109 1,258,704 - - 21,767,312
Restricted:
Capital outlay 983,710 - - - - - 983,710
Unrestricted 165,869 1,333,948 885,363 816,463 - (45,918) 3,155,725
Total net position 15,926,506$ 1,365,520$ 6,585,472$ 2,075,167$ -$ (45,918)$ 25,906,747$
221
City of South Bend, Indiana
Combining Statement of Revenues, Expenses, and Changes in Net Position
Nonmajor Enterprise Funds
For the Year Ended December 31, 2021
Emergency Morris
Consolidated Medical Performing
Century Center Building Parking Garage Solid Waste Services Arts Center Total
Operating revenues
Convention fees 1,343,366$ -$ -$ -$ -$ -$ 1,343,366$
Licenses and permits - 1,515,351 - - - - 1,515,351
Parking fees 58,114 - 951,144 - - - 1,009,258
Solid waste fees - - - 6,092,214 - - 6,092,214
Charges to other funds 67,477 - - - - - 67,477
Other 5,177 3,560 83 49,950 - - 58,770
Total operating revenues 1,474,134 1,518,911 951,227 6,142,164 - - 10,086,436
Operating expenses
Personnel services 405,440 909,477 - 1,411,792 - 32,864 2,759,573
Materials and supplies 550,408 15,666 21,389 288,463 - - 875,926
Contractual services 856,811 37,493 268,184 2,464,912 2,017 13,054 3,642,471
General and administration 977,382 339,939 334,728 1,185,129 - - 2,837,178
Depreciation 1,036,059 42,754 342,117 747,378 - - 2,168,308
Total operating expenses 3,826,100 1,345,329 966,418 6,097,674 2,017 45,918 12,283,456
Operating income (loss) (2,351,966) 173,582 (15,191) 44,490 (2,017) (45,918) (2,197,020)
Nonoperating revenues (expenses)
Investment income (42) (215) 266 (1,773) (1,512) - (3,276)
Hotel/motel tax revenues 1,037,500 - - - - - 1,037,500
Interest expense - (1,015) - (36,001) - - (37,016)
(Loss) gain on sale of assets (8,989) - - (23,421) - - (32,410)
Total nonoperating revenues (expenses) 1,028,469 (1,230) 266 (61,195) (1,512) - 964,798
Income (loss) - Before contributions and transfers (1,323,497) 172,352 (14,925) (16,705) (3,529) (45,918) (1,232,222)
Transfers in - - - 1,796,371 - - 1,796,371
Transfers out (97,217) - - - (607,079) - (704,296)
Change in net position (1,420,714) 172,352 (14,925) 1,779,666 (610,608) (45,918) (140,147)
Net position - Beginning of year 17,347,220 1,193,168 6,600,397 295,501 610,608 - 26,046,894
Net position - End of year 15,926,506$ 1,365,520$ 6,585,472$ 2,075,167$ -$ (45,918)$ 25,906,747$
222
City of South Bend, Indiana
Nonmajor Enterprise Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2021
Emergency Morris
Consolidated Parking Medical Performing
Century Center Building Garage Solid Waste Services Arts Center Total
Cash flows from operating activities
Receipts from customers and users 971,680$ 1,518,736$ 951,227$ 5,734,781$ -$ -$ 9,176,424$
Receipts from interfund services and
reimbursements - - - (2,216) - - (2,216)
Payments to suppliers (1,358,582) (56,912) (372,653) (2,727,528) - 3,988 (4,511,687)
Payments to employees (1,191,185) (1,058,657) (172,990) (1,566,866) - - (3,989,698)
Internal activity - payments to other funds (249,858) (339,938) (162,504) (1,289,051) - 1,086 (2,040,265)
Internal activity - payments from other funds 67,477 - - - - - 67,477
Net cash provided by (used in) operating activities (1,760,468) 63,229 243,080 149,120 - 5,074 (1,299,965)
Cash flows from noncapital financing activities
Transfers from other funds - - - 1,796,371 - - 1,796,371
Transfers to other funds (97,217) - - - (607,079) - (704,296)
Hotel/motel tax 1,037,500 - - - - - 1,037,500
Repayments of loans from other funds - - - (250,000) - - (250,000)
Net cash (used in) provided by noncapital financing activities 940,283 - - 1,546,371 (607,079) - 1,879,575
Cash flows from capital and related financing activities
Proceeds from capital debt issued
for future capital purchase - - - 758,270 - - 758,270
Purchase of capital assets - (49,478) (14,249) (354,135) - - (417,862)
Principal paid on capital debt - (43,020) - (843,122) - - (886,142)
Interest paid on capital debt - (1,316) - (37,977) - - (39,293)
Net cash (used in) provided by capital and related financing activities - (93,814) (14,249) (476,964) - - (585,027)
Cash flows from investing activities
Interest received on investments 3 479 358 (2,203) (1,511) - (2,874)
Proceeds from sale and maturities of investment securities 40,398 207,870 (73,851) (471,153) 410,128 - 113,392
Net cash provided by (used in) investing activities 40,401 208,349 (73,493) (473,356) 408,617 - 110,518
Net (decrease) increase in cash and cash equivalents (779,784) 177,764 155,338 745,171 (198,462) 5,074 105,101
Cash and cash equivalents - beginning of year 1,962,122 699,024 220,427 421,847 198,462 - 3,501,882
Cash and cash equivalents - end of year 1,182,338$ 876,788$ 375,765$ 1,167,018$ -$ 5,074$ 3,606,983$
Classification of cash and cash equivalents
Cash and investments 194,802$ 2,096,736$ 905,136$ 904,891$ -$ -$ 4,101,565$
Restricted cash and investments 987,536 8,834 - 792,077 - 5,074 1,793,521
Less amounts classified as investments - (1,228,782) (529,371) (529,950) - - (2,288,103)
Total cash and cash equivalents 1,182,338$ 876,788$ 375,765$ 1,167,018$ -$ 5,074$ 3,606,983$
Reconciliation of operating income (loss)
to net cash from operating activities
Operating income (loss) (2,351,966) 173,582 (15,191) 44,490 (2,017) (45,918) (2,197,020)
Adjustments to reconcile operating income (loss)
to net cash from operating activities:
Depreciation and amortization 1,036,059 42,754 342,117 747,378 - - 2,168,308
Changes in assets and liabilities:
Receivables (441,481) (175) - (407,384) - - (849,040)
Due from other funds - - - (2,216) - - (2,216)
Inventory 6,017 - - - - - 6,017
Prepaid expenses and other assets 5,644 - - - 2,017 - 7,661
Increase (decrease) in liabilities
Accounts payable 17,548 (9,263) (83,080) 18,169 - 11,968 (44,658)
Taxes payable 7,201 354 - 142 - 2,113 9,810
Due to other funds (2,663) - (766) (103,922) - 1,086 (106,265)
Accrued payroll payable 10,948 2,686 - 769 - 17,585 31,988
Compensated absences payable (13,731) (35,890) - (39,453) - 15,279 (73,795)
Customer deposits 6,504 - - - - - 6,504
Other current payables 12,229 5,156 - 7,537 - 2,961 27,883
Increase (decrease) in deferred outflows of resources
Pension items (24,352) (56,405) - (75,429) - - (156,186)
OPEB items 4,623 10,163 - 10,216 - - 25,002
Increase (decrease) in net pension liabilities (108,214) (245,477) - (296,315) - - (650,006)
Increase (decrease) in OPEB liability (13,503) (28,824) - (23,402) - - (65,729)
Increase (decrease) in deferred inflows of resources
Pension items 84,592 194,551 - 251,602 - - 530,745
OPEB items 4,077 10,017 - 16,938 - - 31,032
Total adjustments 591,498 (110,353) 258,271 104,630 2,017 50,992 897,055
Net cash provided by (used in) operating activities (1,760,468)$ 63,229$ 243,080$ 149,120$ -$ 5,074$ (1,299,965)$
Noncash investing, capital, and financing activities
Capital assets acquired through lease -$ -$ -$ 354,135$ -$ -$ 354,135$
Capital assets disposed (at cost)(154,786) - - (196,733) - - (351,519)
Work in progress completed transferred
to capital assets - - (287,318) - - - (287,318)
Accumulated depreciation on disposals
of capital assets 145,797 - - 173,312 - - 319,110
223
City of South Bend, Indiana
Other Supplemental Information
Internal Service Funds
Fund Descriptions
INTERNAL SERVICE FUNDS
Liability Insurance
Premium Reserve
To account for expenses related to maintaining the City's self-funded liability
insurance including administrative costs, claims and premiums. Funding is provided
by assessments to certain other City funds.
Self-Funded Employee
Benefits
To account for employer and employee contributions for a health plan, and for the
payment of healthcare claims for members of the City’s plan.
Central Services To account for expenses related to fuel, vehicle repairs and various supplies provided
to City departments on a cost-reimbursement basis.
Police Take Home
Vehicle
To account for expenses associated with claims arising from use of program vehicles
occurring while officers are not on duty. Funding is provided by officers participating
in the program.
Innovation/
Information Technology/
311 Call Center
To account for expenses associated with the 311 Call Center and Department of
Innovation & Technology. The Call Center is a customer service support center
where residents and business can receive personal assistance with City-related
questions and non-emergency services. The IT Department provides technical
services to the various departments within the City. Funding is provided by the
departments which benefit from the departments.
Unemployment
Compensation
Insurance
To account for payment of unemployment claims to the Indiana Department of
Workforce Development. Financing is provided by allocating costs to user
departments to cover the estimated costs of claims.
Parental Leave To account for expenses related to the City’s Parental Leave Program which provides
additional paid time off for employees for the child or adoption of a child. Financing
is provided by allocating costs to user departments to cover the estimated costs of
the program.
224
City of South Bend, IndianaCombining Statement of Net PositionInternal Service FundsDecember 31, 2021LiabilityInnovation &Insurance Self-FundedTechnology UnemploymentPremium Employee Central Police Take 311 Call Compensation ParentalReserveBenefitsServicesHome VehicleCenterInsuranceLeaveTotalAssetsCurrent assets:Cash and cash equivalents 2,517,301$ 4,447,413$ 277,100$ 288,022$ 1,445,778$ -$ 93,476$ 9,069,090$ Investments 3,566,750 6,306,063 385,076 408,391 2,014,537 - 132,542 12,813,359 Receivables:Accounts 14,777 - 124,271 - 552 - - 139,600 Interest 3,476 6,145 375 398 1,964 - 129 12,487 Inventory - - 942,866 - - - - 942,866 Prepaid expenses455,505 7,320 1,500 - 1,045,947 59,419 - 1,569,691 Total current assets 6,557,809 10,766,941 1,731,188 696,811 4,508,778 59,419 226,147 24,547,093 Noncurrent assets:Restricted assets - - 18,764 - 57,961 - - 76,725 Capital assets:Assets subject to depreciation - - 981,840 - - - - 981,840 Total noncurrent assets - - 1,000,604 - 57,961 - - 1,058,565 Total assets 6,557,809 10,766,941 2,731,792 696,811 4,566,739 59,419 226,147 25,605,658 Deferred outflows of resourcesDeferred outflows related to pensions - - 341,181 - 376,915 - - 718,096 Deferred outflows related to OPEB - - 140,031 - 154,697 - - 294,728 Total deferred outflows of resources - - 481,212 - 531,612 - - 1,012,824 LiabilitiesCurrent liabilities:Accounts payable 56,412 208,502 203,181 - 110,314 - - 578,409 Due to other funds - - 935 - - - - 935 Accrued liabilities and other:Accrued payroll payable - - 65,033 - 72,531 - - 137,564 Accrued interest payable - - 78 - 23,018 - - 23,096 Taxes payable - - 7,813 - 8,714 - - 16,527 Other current payables - - 10,951 - 12,214 - - 23,165 Compensated absences - - 27,191 - 78,526 - - 105,717 Claims payable 3,151,622 849,384 - - - - - 4,001,006 Capital leases - - 8,069 - 824,907 - - 832,976 Total current liabilities 3,208,034 1,057,886 323,251 - 1,130,224 - - 5,719,395 Noncurrent liabilities:Capital leases - - 12,451 - 1,233,850 - - 1,246,301 Net pension liability - - 423,479 - 467,832 - - 891,311 Total OPEB liability - - 730,026 - 806,485 - - 1,536,511 Total noncurrent liabilities - - 1,165,956 - 2,508,167 - - 3,674,123 Total liabilities 3,208,034 1,057,886 1,489,207 - 3,638,391 - - 9,393,518 Deferred inflows of resourcesDeferred inflows related to pensions - - 665,302 - 734,982 - - 1,400,284 Deferred inflows related to OPEB - - 272,138 - 300,642 - - 572,780 Total deferred inflows of resources - - 937,440 - 1,035,624 - - 1,973,064 Net positionNet investment in capital assets - - 961,320 - - - - 961,320 Unrestricted 3,349,775 9,709,055 (174,963) 696,811 424,336 59,419 226,147 14,290,580 Total net position 3,349,775$ 9,709,055$ 786,357$ 696,811$ 424,336$ 59,419$ 226,147$ 15,251,900$ 225
City of South Bend, IndianaCombining Statement of Revenues, Expenses, and Changes in Net PositionInternal Service FundsFor the Year Ended December 31, 2021LiabilityInnovation &Insurance Self-FundedTechnology UnemploymentPremium Employee Central Police Take 311 Call Compensation Parental ReserveBenefitsServicesHome VehicleCenterInsuranceLeaveTotalOperating revenuesEmployee/employer contributions 3,265,000$ 15,742,095$ -$ 14,640$ 9,129,846$ 22,056$ 248,400$ 28,422,037$ Charges for sales and services - - 7,282,655 - 47,379 - - 7,330,034 Charges to other funds - - 129,585 - - - - 129,585 Other 84,555 1,438,628 78,626 - 167,065 74,683 - 1,843,557 Total operating revenues 3,349,555 17,180,723 7,490,866 14,640 9,344,290 96,739 248,400 37,725,213 Operating expensesPersonnel services (110,230) 91,156 2,195,908 - 2,332,508 - 180,337 4,689,679 Materials and supplies 24,947 101,432 4,504,975 - 1,435,682 - - 6,067,036 Contractual services 1,898,154 852,742 177,709 270 4,176,197 - - 7,105,072 Insurance claims and premiums 2,419,875 15,293,763 - - - 62,283 - 17,775,921 General and administration 21,624 - 683,462 - 891 - - 705,977 Depreciation - - 129,037 - - - - 129,037 Total operating expenses 4,254,370 16,339,093 7,691,091 270 7,945,278 62,283 180,337 36,472,722 Operating income (loss) (904,815) 841,630 (200,225) 14,370 1,399,012 34,456 68,063 1,252,491 Nonoperating revenues (expenses)Investment income 1,133 1,596 483 (9) (1,169) (39) 28 2,023 Interest expense - - (583) - (64,238) - - (64,821) (Loss) gain on sale of assets - - (15,081) - - - - (15,081) Total nonoperating revenues (expenses) 1,133 1,596 (15,181) (9) (65,407) (39) 28 (77,879) Income (loss) - Before contributions and transfers (903,682) 843,226 (215,406) 14,361 1,333,605 34,417 68,091 1,174,612 Transfers in - - - - - 6,667 - 6,667 Transfers out - (6,667) - - - - - (6,667) Change in net position (903,682) 836,559 (215,406) 14,361 1,333,605 41,084 68,091 1,174,612 Net position - Beginning of year 4,253,457 8,872,496 1,001,763 682,450 (909,269) 18,335 158,056 14,077,288 Net position - End of year 3,349,775$ 9,709,055$ 786,357$ 696,811$ 424,336$ 59,419$ 226,147$ 15,251,900$ 226
City of South Bend, Indiana
Internal Service Funds
Combining Statement of Cash Flows
For the Year Ended December 31, 2021
Liability Innovation/
Insurance Self-Funded Technology/ Unemployment
Premium Employee Central Police Take 311 Call Compensation Parental
Reserve Benefits Services Home Vehicle Center Insurance Leave Total
Cash flows from operating activities
Receipts from customers and users 69,778$ 1,440,303$ 446,339$ 14,640$ 214,217$ 74,683$ -$ 2,259,960$
Receipts from interfund services and
reimbursements 3,265,000 15,742,095 7,121,157 - 9,129,846 22,056 248,401 35,528,555
Payments to suppliers (3,203,821) (16,595,167) (4,842,080) (1,955) (5,939,984) (135,333) - (30,718,340)
Payments to employees - - (2,530,403) - (2,612,832) - (180,338) (5,323,573)
Internal activity - payments to other funds (21,624) - (684,156) - (891) - - (706,671)
Net cash provided by (used in) operating activities 109,333 587,231 (489,143) 12,685 790,356 (38,594) 68,063 1,039,931
Cash flows from noncapital financing activities
Transfers from other funds - - - - - 6,667 - 6,667
Transfers to other funds - (6,667) - - - - - (6,667)
Proceeds from capital lease used for noncapital expenses - - - - 1,646,762 - - 1,646,762
Principal paid on noncapital debt - - - - (1,006,757) - - (1,006,757)
Interest paid on noncapital debt - - - - (50,358) - - (50,358)
Net cash (used in) provided by noncapital financing activities - (6,667) - - 589,647 6,667 - 589,647
Cash flows from capital and related financing activities
Proceeds from sales of capital assets - - 1,472 - - - - 1,472
Purchase of capital assets - - (68,349) - - - - (68,349)
Principal paid on capital debt - - (10,371) - - - - (10,371)
Interest paid on capital debt - - (625) - - - - (625)
Net cash (used in) provided by capital and related financing activities - - (77,873) - - - - (77,873)
Cash flows from investing activities
Interest received on investments 3,023 4,587 1,221 207 (1,218) (11) 41 7,850
Proceeds from sale and maturities of investment securities 457,567 546,357 449,262 52,233 (578,806) 21,523 (26,124) 922,012
Net cash provided by (used in) investing activities 460,590 550,944 450,483 52,440 (580,024) 21,512 (26,083) 929,862
Net (decrease) increase in cash and cash equivalents 569,923 1,131,508 (116,533) 65,125 799,979 (10,415) 41,980 2,481,567
Cash and cash equivalents - beginning of year 1,947,378 3,315,905 412,397 222,897 703,760 10,415 51,496 6,664,248
Cash and cash equivalents - end of year 2,517,301$ 4,447,413$ 295,864$ 288,022$ 1,503,739$ -$ 93,476$ 9,145,815$
Classification of cash and cash equivalents
Cash and investments 6,084,051$ 10,753,476$ 662,176$ 696,413$ 3,460,315$ -$ 226,018$ 21,882,449$
Restricted cash and investments - - 18,764 - 57,961 - - 76,725
Less amounts classified as investments (3,566,750) (6,306,063) (385,076) (408,391) (2,014,537) - (132,542) (12,813,359)
Total cash and cash equivalents 2,517,301$ 4,447,413$ 295,864$ 288,022$ 1,503,739$ -$ 93,476$ 9,145,815$
Reconciliation of operating income (loss)
to net cash from operating activities
Operating income (loss)(904,815) 841,630 (200,225) 14,370 1,399,012 34,456 68,063 1,252,491
Adjustments to reconcile operating income (loss)
to net cash provided by (used in) operating activities:
Depreciation and amortization - - 129,037 - - - - 129,037
Changes in assets and liabilities:
Receivables (14,777) 1,674 (27,291) - (228) - - (40,622)
Due from other funds - - 103,922 - - - - 103,922
Inventory - - (94,160) - - - - (94,160)
Prepaid expenses and other assets (132,171) (7,320) - - (211,889) (59,419) - (410,799)
Accounts payable (30,792) (122,774) (75,643) (1,685) (128,138) (13,631) - (372,663)
Taxes payable - - (546) - (292) - - (838)
Due to other funds - - (694) - - - - (694)
Accrued payroll payable - - (5,202) - (3,137) - - (8,339)
Compensated absences payable - - (90,634) - (85,137) - - (175,771)
Other current payables - - 10,951 - 12,214 - - 23,165
Estimate of unfiled claims 1,314,925 (125,979) - - - - - 1,188,946
Increase (decrease) in deferred outflows of resources
Pension items 13,957 - (131,507) - (153,403) - - (270,953)
OPEB items 10,714 - 20,927 - 16,884 - - 48,525
Increase (decrease) in net pension liabilities (64,541) - (546,120) - (565,756) - - (1,176,417)
Increase (decrease) in OPEB liability (52,240) - (54,784) - (30,119) - - (137,143)
Increase (decrease) in deferred inflows of resources
Pension items (14,560) - 446,566 - 501,810 - - 933,816
OPEB items (16,367) - 26,260 - 38,535 - - 48,428
Total adjustments 1,014,148 (254,399) (288,918) (1,685) (608,656) (73,050) - (212,560)
Net cash provided by (used in) operating activities 109,333$ 587,231$ (489,143)$ 12,685$ 790,356$ (38,594)$ 68,063$ 1,039,931$
Noncash investing, capital, and financing activities
Capital assets disposed (at cost)-$ -$ (34,169)$ -$ (30,652)$ -$ -$ (64,822)$
Capital assets transferred from/to another und (cost)- - (10,800) - - - - (10,800)
Accumulated depreciation on disposals
of capital assets - - 17,616 - 30,652 - - 48,268
Accumulated depreciation on transfers of capital assets - - 10,800 - - - - 10,800
227
City of South Bend, Indiana
Other Supplemental Information
Fiduciary Funds
Fund Descriptions
FIDUCIARY FUNDS
Pension Trust Funds
1925 Police Pension To account for the provision of retirement and disability benefits to police officers
hired prior to May 1, 1977. Financing is provided by mandatory contributions by
active members, and state pension relief distributions.
1937 Firefighters'
Pension
To account for the provision of retirement and disability benefits to firefighters hired
prior to May 1, 1977. Financing is provided by mandatory contributions by active
members and state pension relief distributions.
Custodial Funds
Police Distributions
Payable
To account for monies collected by the South Bend Police Department from asset
seizures and other sources. Proceeds may be used to pay other governmental
agencies for monies collected on their behalf or for related expenses.
228
City of South Bend, Indiana
Statement of Fiduciary Net Position
Fiduciary Funds
December 31, 2021
Pension Trust Funds Custodial Fund
1925 1937 Total Police
Police Firefighters' Pension Trust Distribution
Pension Pension Funds Payable
Assets
Cash and cash equivalents 231,277$ 173,247$ 404,524$ 1,641,403$
Investments:
U.S. Treasuries 46,242 34,639 80,881 -
U.S. Government Agency Securities 281,086 210,558 491,644 -
Tax-Exempt Municipal Bonds 604 453 1,057 -
Receivables - Interest 320 239 559 -
Total assets 559,529 419,136 978,665 1,641,403
Liabilities
Accounts payable - 2 2 -
Police distribution payable - - - 1,641,403
Total liabilities - 2 2 1,641,403
Net position restricted for pensions 559,529$ 419,134$ 978,663$
See Notes to Financial Statements 229
City of South Bend, Indiana
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended December 31, 2021
Pension Trust Funds Custodial Fund
1925 1937 Total Police
Police Firefighters' Pension Trust Distribution
Pension Pension Funds Payable
Additions
Investment income (loss) - Interest and dividends (1,010)$ (773)$ (1,783)$ -$
Police asset seizures - - - 863,627
Contributions:
On behalf 5,950,693 4,101,278 10,051,971 -
Other 4,119 - 4,119 -
Net contributions 5,954,812 4,101,278 10,056,090 -
Total additions 5,953,802 4,100,505 10,054,307 863,627
Deductions
Benefit payments 5,936,871 4,121,440 10,058,311 -
Police distributions and distributions payable - - - 863,627
Administrative expenses 13,821 14,960 28,781 -
Total deductions 5,950,692 4,136,400 10,087,092 863,627
Net increase (decrease) in net position held in trust 3,110 (35,895) (32,785) -
Net position - Beginning of year 556,419 455,029 1,011,448 -
Net position - End of year 559,529$ 419,134$ 978,663$ -$
See Notes to Financial Statements 230
City of South Bend, Indiana
Other Supplemental Information
Schedule of Changes in Assets and Liabilities
Custodial Funds
December 31, 2021
Balance at
Balance at December 31,
January 1, 2021 Additions Reductions 2021
Police Distribution Payable
Assets - Cash and investments 894,848$ 863,627$ (117,072)$ 1,641,403$
Liabilities - Police distribution payable 894,848$ 863,627$ (117,072)$ 1,641,403$
See Notes to Financial Statements 231
Statistical Section
232
Financial trends
Revenue capacity
Debt capacity
Demographic and economic information
Operating information
These schedules help the reader understand the environment within which the government's
financial activities take place.
These schedules contain service and infrastructure data to help the reader understand how the
information in the government's financial report relates to the services the government provides
and the activities it performs.
Statistical Section
This part of the comprehensive annual financial report presents detailed information as context for
understanding what the information in the financial statements, note disclosures, and required
supplementary information says about the City's overall financial health.
The statistical section is organized into the following main categories:
These schedules contain trend information to help the reader understand how the government's
financial performance and well-being have changed over time.
These schedules contain information to help the reader assess the government's most significant
local revenue source, the property tax.
These schedules present information to help the reader assess the affordability of the
government's current level of outstanding debt and the government's ability to issue additional
debt in the future.
233
Financial Trends
These schedules contain trend information to help the reader understand how the City's financial
performance and well-being have changed over time.
234
City of South Bend, IndianaNet Position by ComponentLast Ten Fiscal YearsAs of December 31,201220132014 (1)2015 (1)2016201720182019 (2)20202021Governmental activitiesNet investment in capital assets 202,779,954$ 192,190,446$ 168,275,521$ 157,604,691$ 161,341,318$ 155,912,682$ 143,282,487$ 133,763,392$ 128,432,152$ 133,711,581$ Restricted 8,050,418 7,990,172 8,723,878 9,137,552 8,669,117 9,245,531 11,639,254 11,332,302 11,810,879 30,180,859 Unrestricted 71,992,457 86,413,227 (18,581,970) (25,882,348) (7,327,797) (16,751,916) 3,673,134 10,845,011 31,481,927 51,283,016 Total net position282,822,829$ 286,593,845$ 158,417,429$ 140,859,895$ 162,682,638$ 148,406,297$ 158,594,875$ 155,940,705$ 171,724,958$ 215,175,456$ Business-type activitiesNet investment in capital assets 113,193,929$ 114,506,252$ 136,685,811$ 141,998,384$ 145,288,974$ 145,585,038$ 147,069,159$ 151,699,680$ 158,425,568$ 165,916,250$ Restricted 29,259,933 48,267,664 26,587,012 28,397,290 31,963,852 29,623,015 33,936,695 34,701,170 42,169,068 42,713,237 Unrestricted 26,957,505 7,906,258 22,426,017 24,415,739 25,357,665 28,103,338 30,785,421 19,018,588 12,248,916 20,263,612 Total net position169,411,367$ 170,680,174$ 185,698,840$ 194,811,413$ 202,610,491$ 203,311,391$ 211,791,275$ 205,419,438$ 212,843,552$ 228,893,099$ Primary governmentNet investment in capital assets 315,973,883$ 306,696,698$ 304,961,332$ 299,603,075$ 306,630,292$ 301,497,720$ 290,531,646$ 285,463,072$ 286,857,720$ 299,627,831$ Restricted 37,310,351 56,257,836 35,310,890 37,534,842 40,632,969 38,868,546$ 45,575,949 46,033,472 53,979,947 72,894,096 Unrestricted 98,949,962 94,319,485 3,844,047 (1,466,609) 18,029,868 11,351,422 34,458,555 29,863,599 43,730,843 71,546,628 Total net position452,234,196$ 457,274,019$ 344,116,269$ 335,671,308$ 365,293,129$ 351,717,688$ 370,566,150$ 361,360,143$ 384,568,510$ 444,068,555$ Net position is defined as the difference between total assets and deferred outflows of resources less total liabilities and deferred inflows of resources and can generally be thought of as the net worth of the City of South Bend.(1) The City implemented the reporting of net pension liability through GASB 68 during 2015. 2014 was restated.(2) 2019 Net position for governmental and business-type is restated. See Note 20 for information regarding the prior period adjustments.Source: City of South Bend Annual Comprehensive Financial Reports235
City of South Bend, IndianaChanges in Net PositionLast Ten Fiscal Years2012201320142015201620172018201920202021ExpensesGovernmental activities:General government (13,788,310)$ (13,200,898)$ (19,013,453)$ (21,572,776)$ (15,618,817)$ (16,750,853)$ (12,654,430)$ (10,915,147)$ (15,594,628)$ (13,099,391)$ Public safety (69,977,237) (76,023,819) (68,783,155) (56,528,448) (55,029,909) (71,656,865) (69,209,163) (92,017,691) (71,038,475) (66,584,412) Highways and streets (14,639,158) (20,915,815) (13,031,500) (20,045,444) (13,550,535) (21,716,658) (17,223,378) (27,114,327) (30,954,585) (29,402,967) Community and economic development (20,217,987) (10,069,690) (19,780,791) (40,727,612) (28,436,368) (26,326,989) (33,801,755) (44,698,518) (33,591,809) (18,151,702) Culture and recreation (21,724,589) (26,846,471) (16,802,311) (20,300,768) (17,156,094) (19,332,902) (26,076,331) (24,641,558) (18,219,658) (20,298,172) Interest on long-term debt (6,134,406) (5,961,124) (2,497,849) (5,135,146) (4,727,630) (4,538,530) (5,718,172) (5,746,755) (5,928,006) (5,517,287) Total governmental activities expenses (146,481,687) (153,017,817) (139,909,059) (164,310,194) (134,519,353) (160,322,797) (164,683,229) (205,133,996) (175,327,161) (153,053,931) Business-type activities:Water utility (12,228,014) (15,221,865) (13,020,610) (13,609,378) (14,900,039) (14,902,682) (14,788,847) (16,268,059) (15,426,501) (14,387,728) Wastewater utility (23,809,975) (26,390,790) (25,521,753) (25,737,867) (26,420,526) (32,548,087) (25,744,139) (32,482,382) (30,400,218) (29,248,157) Century center (2,929,268) (4,330,656) (4,747,838) (4,854,747) (5,364,472) (5,121,336) (5,287,797) (5,469,673) (3,513,761) (3,826,100) Consolidated building (1) (909,376) (1,131,815) (3,242,320) (3,552,347) (3,240,172) (3,704,963) (4,136,837) (4,329,275) (1,500,424) (1,346,344) Parking garage (1,721,655) (1,285,056) (1,660,596) (2,139,182) (909,857) (1,177,363) (459,536) (1,178,641) (1,262,908) (966,418) Solid waste (5,118,806) (5,091,588) (5,811,526) (5,243,972) (5,794,913) (5,169,128) (5,467,986) (5,481,420) (6,169,271) (6,133,675) Blackthorn golf course (1,841,998) (1,497,513) (1,874,962) (165,977) - - - - - - Emergency medical services (2) - - - (6,596,206) (7,437,349) (8,617,050) (8,987,340) (7,864,987) (91,057) (2,017) Morris performing arts center - - - - - - - - - (45,918) Total business-type activities expenses (48,559,092) (54,949,283) (55,879,605) (61,899,676) (64,067,328) (71,240,609) (64,872,482) (73,074,437) (58,364,140) (55,956,357) Total primary government expenses (195,040,779) (207,967,100) (195,788,664) (226,209,870) (198,586,681) (231,563,406) (229,555,711) (278,208,433) (233,691,301) (209,010,288) Program revenuesGovernmental activities:Charges for services: General government2,100,103$ 1,939,865$ 1,451,438$ 1,188,531$ 1,622,788$ 1,118,328$ 718,155$ 452,796$ 635,786$ 619,851$ Public safety5,079,182 5,210,272 4,992,228 529,386 975,712 648,136 702,977 521,835 5,940,878 6,322,288 Highways and streets291,840 451,363 728,343 676,429 707,547 976,095 - 244,790 690,372 416,847 Community and economic development271,366 444,839 485,938 408,654 481,293 1,489,942 698,252 199,405 1,391,715 1,973,800 Culture and recreation5,224,543 5,112,019 3,815,920 3,726,359 4,383,977 4,308,699 4,356,659 4,240,087 3,180,546 3,791,726 Operating grants and contributions24,937,596 21,466,622 3,203,805 2,813,481 2,644,272 11,828,681 26,248,738 14,701,908 20,139,125 20,180,108 Capital grants and contributions2,468,120 1,867,213 - - - 1,000,000 4,100,000 3,605,801 949,034 3,742,319 Total governmental activities program revenues 40,372,750 36,492,193 14,677,672 9,342,840 10,815,589 21,369,881 36,824,781 23,966,622 32,927,456 37,046,939 Business-type activities:Charges for services:Water utility 15,409,171 15,102,462 14,373,176 14,204,285 15,091,372 15,290,203 17,183,460 20,440,181 21,536,290 21,486,628 Wastewater utility 30,657,698 32,474,743 34,009,117 36,638,804 39,061,562 38,794,212 39,931,429 41,324,779 39,653,436 41,517,462 Century center 2,680,076 3,463,813 2,227,171 4,202,564 4,796,676 3,055,793 3,258,017 3,268,026 1,047,253 1,465,145 Consolidated building 1,000,381 967,667 1,387,571 2,037,950 1,764,100 1,902,493 2,044,582 2,043,272 1,302,594 1,518,911 Parking garage 921,044 968,868 1,017,218 968,417 996,197 1,264,706 1,323,524 1,004,401 885,672 951,227 Solid waste 5,081,991 5,399,044 5,295,712 5,364,871 5,839,143 5,420,711 5,471,364 5,465,311 5,754,646 6,118,743 Blackthorn golf course 1,669,372 1,530,402 1,548,341 109,949 - - - - - - Emergency medical services - - - 6,470,446 7,921,172 7,308,243 6,727,643 5,720,434 797 - Operating grants and contributions - - - - - - 278,112 - - - Capital grants and contributions2,010,253 697,916 95,834 4,683,424 649,609 1,170,970 - 1,710,762 2,142,194 743,450 Total business-type activities program revenues 59,429,986 60,604,915 59,954,140 74,680,710 76,119,831 74,207,331 76,218,131 80,977,166 72,322,882 73,801,566 Total primary government program revenues 99,802,736 97,097,108 74,631,812 84,023,550 86,935,420 95,577,212 113,042,912 104,943,788 105,250,338 110,848,505 Net (expenses)/revenuesGovernmental activities(106,108,937) (116,525,624) (125,231,387) (154,967,354) (123,703,764) (138,952,916) (127,858,448) (181,167,374) (142,399,705) (116,006,992) Business-type activities10,870,894 5,655,632 4,074,535 12,781,034 12,052,503 2,966,722 11,345,649 7,902,729 13,958,742 17,845,209 Total primary government net (expenses)/revenues (95,238,043) (110,869,992) (121,156,852) (142,186,320) (111,651,261) (135,986,194) (116,512,799) (173,264,645) (128,440,963) (98,161,783) 236
City of South Bend, IndianaChanges in Net Position (continued)Last Ten Fiscal Years2012201320142015201620172018201920202021General revenues and other changes in net positionGovernmental activities:Taxes:Property taxes 71,775,415$ 72,018,650$ 69,221,468$ 72,032,049$ 76,331,581$ 78,266,107$ 80,155,902$ 82,470,667$ 80,188,143$ 87,866,397$ Income taxes 22,073,702 21,916,677 23,822,661 23,879,047 30,789,397 28,179,750 32,911,525 34,643,723 36,897,937 35,736,715 Hotel/motel taxes - - - 492,000 396,000 394,000 616,437 630,000 602,937 604,437 Community revitalization district taxes 653,185 244,623 - - - - - - - - State-shared revenue 4,525,714 6,543,920 29,061,942 25,623,373 26,124,184 17,113,289 4,819,125 13,050,283 12,242,415 13,357,839 Unrestricted investment income (loss) 1,317,443 762,270 951,901 1,322,674 1,458,787 1,687,888 3,304,646 5,136,772 2,152,868 (52,191) Other miscellaneous income 6,623,313 14,285,314 6,747,199 11,214,442 6,745,542 8,731,916 10,523,004 17,646,068 17,917,905 19,002,228 Gain (loss) on sale of capital assets - - - - - - - - 80,339 104,819 Transfers 3,879,721 4,525,187 (683,049) 2,846,415 3,681,016 4,123,183 5,229,661 2,768,851 8,101,414 2,837,246 Total governmental activities 110,848,493 120,296,641 129,122,122 137,410,000 145,526,507 138,496,133 137,560,300 156,346,364 158,183,958 159,457,490 Business-type activities:Unrestricted Investment earnings 285,572 138,362 128,168 358,918 570,982 578,773 1,088,896 1,784,206 639,006 4,084 Hotel/motel taxes (3) - - 1,313,450 - - 1,275,000 1,275,000 1,275,000 956,250 1,037,500 Other - - 188,214 - - 3,588 - - (28,470) - Gain (loss) on sale of capital assets - - - - (1,143,391) - - - - - Transfers (3,879,721) (4,525,187) 683,049 (2,846,415) (3,681,016) (4,123,183) (5,229,661) (2,768,851) (8,101,414) (2,837,246) Total business-type activities (3,594,149) (4,386,825) 2,312,881 (2,487,497) (4,253,425) (2,265,822) (2,865,765) 290,355 (6,534,628) (1,795,662) Total primary government 107,254,344 115,909,816 131,435,003 134,922,503 141,273,082 136,230,311 134,694,535 156,636,719 151,649,330 157,661,828 Special items (Governmental activities):Well field contamination settlement - - - - - - - - - - Disposal of operations - - - (1,180,964) - - - - - Change in net positionGovernmental activities 4,739,556 3,771,017 3,890,735 (17,557,354) 21,822,743 (456,783) 9,701,852 (24,821,010) 15,784,253 43,450,498 Business-type activities 7,276,745 1,268,807 6,387,416 10,293,537 7,799,078 700,900 8,479,884 8,193,084 7,424,114 16,049,547 Total primary government12,016,301$ 5,039,824$ 10,278,151$ (7,263,817)$ 29,621,821$ 244,117$ 18,181,736$ (16,627,926)$ 23,208,367$ 59,500,045$ Changes in net assets is defined as the incremental difference between total assets and total liabilities as a result of operations during the fiscal year.(3) Hotel/motel taxes for the Century Center were mistakenly included in program revenues from 2011-2013 and 2015-2016, but are now represented as general revenues.Source: City of South Bend Annual Comprehensive Financial Reports (excludes prior period adjustments)(1) In 2014, Code Enforcement and Animal Care & Control were consolidated with the Building Department to build efficiencies. Prior to 2014, these expenses were included in the general government activities. In 2019, Code Enforcement and Animal Care & Control were moved into a governmental fund and reclassified as general governmental activities again.(2) In 2015, Emergency Medical Services was reclassified to an enterprise fund. In 2019, EMS activities were reclassified from business-type to public safety governmental activities.237
City of South Bend, IndianaFund Balances - Governmental FundsLast Ten Fiscal YearsAs of December 31,2012201320142015201620172018201920202021General fund:Nonspendable 958,341 656,848 558,304 491,665 494,730 447,003 425,680 - - - Restricted - - - - - - - - - - Committed - - - - - - - - - - Assigned 165,389 516,506 - 466,088 1,380,036 1,242,770 820,914 820,834 - - Unassigned 27,671,353 26,495,559 27,029,101 29,664,303 32,077,856 33,776,487 37,383,206 42,478,766 51,026,016 63,401,631 Total general fund 28,795,083 27,668,913 27,587,405 30,622,056 33,952,622 35,466,260 38,629,800 43,299,600 51,026,016 63,401,631 All other governmental funds:Nonspendable 37,706,861 22,828,476 20,537,450 27,042,236 23,566,267 21,927,221 22,322 15,686 11,359,804 10,903,713 Restricted 78,326,567 95,387,879 100,501,274 113,004,506 101,826,640 125,302,667 152,809,121 119,218,398 109,268,103 125,396,563 Committed 11,142,045 20,697,026 12,962,745 2,238,475 2,698,694 2,392,685 3,209,500 4,495,457 6,177,133 8,053,213 Assigned 35,180,652 35,455,190 35,147,874 32,138,059 31,998,790 32,769,201 38,707,987 42,474,803 47,008,958 42,663,195 Unassigned (4,219,066) (4,852,169) (5,700,829) (4,218,596) (2,301,793) (626,846) - (57,852) - (26,633) Total all other governmental funds 158,137,059 169,516,402 163,448,514 170,204,680 157,788,598 181,764,928 194,748,930 166,146,492 173,813,998 186,990,051 Total of all governmental funds 186,932,142$ 197,185,315$ 191,035,919$ 200,826,736$ 191,741,220$ 217,231,188$ 233,378,730$ 209,446,092$ 224,840,014$ 250,391,682$ Source: City of South Bend Annual Comprehensive Financial Reports238
City of South Bend, IndianaChanges in Fund Balances - Governmental FundsLast Ten Fiscal Years2012201320142015201620172018201920202021RevenuesTaxes 95,136,206$ 94,829,947$ 93,632,183$ 96,033,296$ 107,861,553$ 106,746,367$ 113,683,864$ 117,943,632$ 117,689,017$ 124,207,549$ Licenses, fees and permits 189,714 177,019 141,565 151,923 224,677 231,260 245,956 284,048 311,100 303,837 Intergovernmental 31,297,526 29,227,759 30,663,505 30,216,059 27,959,813 29,634,896 35,167,863 31,987,992 33,326,540 36,241,803 Charges for services 12,442,553 12,320,498 10,628,976 5,794,168 7,062,108 7,020,575 5,735,251 5,658,913 11,286,157 13,165,015 Fines and forfeitures 334,767 660,841 563,999 454,327 756,781 562,466 494,836 1,124,570 647,214 613,971 Investment income (loss) 1,317,443 762,270 955,376 1,253,242 1,624,527 1,687,888 3,304,646 5,136,772 2,152,868 (52,191) Other revenues6,660,875 13,174,140 7,904,187 8,816,811 7,179,959 9,703,304 10,523,004 16,237,450 16,959,591 18,963,129 Total revenues147,379,084 151,152,474 144,489,791 142,719,826 152,669,418 155,586,756 169,155,420 178,373,377 182,372,487 193,443,113 ExpendituresCurrent:General government 6,390,585 7,154,965 8,022,688 8,420,278 16,311,633 14,221,015 12,763,226 11,714,095 14,890,828 14,088,456 Public safety 67,138,414 64,041,549 66,927,250 61,889,405 64,350,281 72,010,182 75,530,051 74,695,638 77,145,197 80,411,282 Highways and streets 9,288,682 9,769,942 10,441,957 12,787,641 11,294,768 13,600,140 16,906,126 19,636,991 18,741,789 15,999,114 Community and economic development 18,557,986 13,956,025 13,948,089 12,855,704 13,070,606 20,622,330 22,179,273 20,706,436 12,593,759 12,791,198 Culture and recreation 3,543,180 8,068,458 7,309,130 11,068,013 20,894,153 15,904,306 16,597,764 26,106,656 15,993,587 16,644,748 Capital outlay 39,984,127 30,748,663 29,407,934 46,553,570 27,056,295 17,035,543 23,240,519 43,200,250 31,186,219 19,643,464 Debt service:Principal 10,822,721 13,008,105 12,882,830 13,319,392 13,055,327 16,634,195 13,134,725 14,124,590 14,569,010 16,121,723 Interest on long-term debt 6,734,305 6,113,043 5,360,219 5,392,298 4,943,021 4,514,526 5,682,429 6,002,448 6,018,810 5,873,228 Bond issuance costs- - - 372,432 - - 165,885 293,022 301,761 258,996 Total expenditures162,460,000 152,860,750 154,300,097 172,658,733 170,976,084 174,542,237 186,199,998 216,480,126 191,440,960 181,832,209 Excess of revenues (under) over expenditures (15,080,916) (1,708,276) (9,810,306) (29,938,907) (18,306,666) (18,955,481) (17,044,578) (38,106,749) (9,068,473) 11,610,904 Other financing sources (uses)Issuance of debt 5,660,897 7,801,455 8,436,905 69,426,593 4,999,053 40,727,816 26,101,096 8,788,457 10,093,069 10,543,000 Premium on debt 1,236,364 21,576 171,851 1,919,787 - 6,478 479,608 1,462,841 120,059 1,250,022 Proceeds from refunding13,595,000 3,990,000 - - - - - - - - Payments to refunded bond escrow agent (14,613,147) (4,376,769) (3,482,205) (35,698,815) - - - - - - Transfers in25,368,413 26,365,239 18,478,925 31,498,681 19,541,050 29,141,285 28,197,288 27,479,435 34,125,738 42,663,275 Transfers out(21,488,692) (21,840,052) (16,522,289) (28,652,266) (15,860,034) (25,018,102) (22,528,488) (24,110,584) (26,024,654) (39,826,029) Other- - 28,476 1,235,744 541,081 (412,028) 942,616 67,236 167,423 131,330 Total other financing sources (uses)9,758,835 11,961,449 7,111,663 39,729,724 9,221,150 44,445,449 33,192,120 13,687,385 18,481,635 14,761,598 Net change in fund balances(5,322,081)$ 10,253,173$ (2,698,643)$ 9,790,817$ (9,085,516)$ 25,489,968$ 16,147,542$ (24,419,364)$ 9,413,162$ 26,372,502$ Excludes prior period adjustmentsDebt service as a percentage of noncapital expenditures (1)11.67% 14.07% 12.77% 12.21% 11.27% 14.60% 11.00% 10.89% 13.72% 13.14%(1) Formula = Debt service payments (principal and interest) / (Total Governmental Fund expenditures – Governmental Fund capital outlay per reconciliation)Source: City of South Bend Annual Comprehensive Financial Reports (excludes prior period adjustments)For the Year Ended December 31239
City of South Bend, IndianaFinancial InstitutionsLast Ten Years(Amounts in 000's) PercentYearBranchesDepositsBranchesDepositsBranchesDepositsTotal DepositsIncrease/(Decrease)2012403,201,888 - - n/a 2,735,212 5,816,998 2013373,730,018 - - n/a2,854,527 5,937,100 2.06%2014392,548,101 - - n/a2,911,596 6,584,545 10.91%2015402,454,129 1 25,077 n/a3,089,732 5,459,697 –17.08%2016392,607,360 1 25,077 n/a3,262,413 5,568,938 2.00%2017352,853,276 - - n/a3,451,457 5,894,850 5.85%2018363,179,336 - - n/a3,719,934 6,304,733 6.95%2019454,789,990 - - n/a4,137,490 8,927,480 41.60%2020343,336,459 - - n/a5,047,305 8,383,764 –6.09%2021343,133,766 - - n/a5,628,842 8,762,608 4.52%BanksCredit Unions1st Source Bank2,042,899$ 65.20%Teacher's Credit Union4,059,306$ 72.12%Lake City Bank198,310 6.33%Notre Dame Federal Credit Union815,055 14.48%Jpmorgan Chase Bank, National Assoc.192,658 6.15%Community Wide Credit Union560,833 9.96%Fifth Third Bank, National Association169,759 5.42%AAA Federal Credit Union66,911 1.19%Keybank National Association143,860 4.59%Policemen's Federal Credit Union65,828 1.17%PNC Bank, National Association112,059 3.58%South Bend Firefighters' Credit Union40,209 0.71%Others 274,221 8.73%Others 20,700 0.37%Total3,133,766$ 100.00% Total5,628,842$ 100.00%n/a - information is not availableBank of America closed operations in South Bend prior to June 30, 2014 reducing total bank deposits.Sources:Federal Deposit Insurance Corporation Website (www.fdic.gov). Research and Analysis: Summary of Deposits, Deposits Market Share Report, Indiana, St. Joseph County, South Bend, Run Report. (Industry Analysis, Bank Data & Statistics, Reporting Tools, Deposits Market Shares Report)National Credit Union Association Website (www.ncua.gov). Custom Query, Search Fields, State = Indiana, Total Shares Greater than 1, City = South Bend or Notre Dame. Check data for CU name and total amount of shares and deposits.BanksSavings and Loans Credit Unions240
Revenue Capacity
These schedules contain information to help the reader assess the City's most significant local
revenue source, the property tax, and other major revenue sources.
241
City of South Bend, IndianaProperty Taxes Levies and CollectionsLast Ten Fiscal Years OutstandingPost-Circuit Collected as Collected as Outstanding Delinquent TaxesTax Year/ Certified Circuit Breaker Breaker Taxes a Percent of a Percent of Delinquent as a Percent ofCollection YearTax Levy (1)Tax Credit (2)Tax LevyCollected (3)Gross LevyNet LevyTaxes (4)Net Levy2011/2012 70,756,844$ 23,965,911$ 50,969,314$ 47,728,794$ 67.45% 93.64% 9,550,891$ 18.74%2012/2013 72,696,497 27,863,156 46,790,933 43,943,006 60.45% 93.91% 11,146,473 23.82%2013/2014 73,981,565 27,051,751 44,833,341 44,540,371 60.20% 99.35% 8,745,941 19.51%2014/2015 76,533,090 31,636,141 44,896,949 45,265,669 59.15% 100.82% 8,200,000 18.26%2015/2016 78,503,658 30,864,405 47,639,253 47,766,833 60.85% 100.27% 7,468,597 15.68%2016/2017 81,487,640 32,421,068 49,066,572 49,080,526 60.23% 100.03% 12,106,873 24.67%2017/2018 85,426,389 33,910,221 51,516,168 51,498,854 60.28% 99.97% 11,343,797 22.02%2018/2019 88,747,340 35,874,959 52,872,381 55,470,558 62.50% 104.91% 10,648,543 20.14%2019/2020 91,764,231 39,908,278 51,855,953 51,748,694 56.39% 99.79% 9,286,878 17.91%2020/2021 94,929,278 41,202,439 53,726,839 55,516,953 58.48% 103.33% 8,765,528 16.31%Total collections may exceed 100% of adjusted tax levy as prior year collections are not broken out separately by the St. Joseph County Auditor. Sources:(1) Department of Local Government Finance Certified Budget Orders (https://www.in.gov/dlgf/county-specific-information/st-joseph/)(2) St. Joseph County Circuit Breaker Report (https://www.in.gov/dlgf/county-specific-information/st-joseph/)(3) Baker Tilly Municipal Advisors - Annual Information for Continuing Disclosure Compliance(4) Indiana Gateway Abstract Reports: Total Taxes Summary Report (https://gateway.ifionline.org/report_builder/)Data provided for General Fund, Parks & Recreation, Cumulative Capital Development, and Park Bond; excludes College Football Hall of Fame and Tax Increment Financing Funds. Delinquent taxes are not broken out by individual taxing unit. A calculation of South Bend's share of delinquent taxes has been made based on proportionate tax rates by dividing South Bend's total direct tax rate by the total tax rate for Portage Township and then by multiplying it by the amount of delinquent taxes reported for Portage Township.242
City of South Bend, IndianaLast Ten Fiscal Years(Rate per $100 of Net Assessed Value) CumulativeTotalTax Year/ General Parks/ Park CapitalTotalSt. Joseph Schools Total PortageCollection YearFundRecreationBondDevelopmentDirectCountyDistrictsTownshipLibraryOther (2)OverlappingTownship2011/2012 2.4954 0.4957 - 0.0328 2.9541 0.6212 1.1931 0.0464 0.2941 0.1817 2.3365 5.2906 2012/2013 2.5678 0.5102 - 0.0328 3.0239 0.6731 1.3493 0.0453 0.3227 0.1971 2.5875 5.6114 2013/2014 2.7977 0.5608 - 0.0328 3.1108 0.7058 1.3577 0.0505 0.3309 0.1849 2.6298 5.7406 2014/2015 2.8313 0.5676 - 0.0325 3.4314 0.6866 1.2940 0.0500 0.3207 0.2125 2.5638 5.9952 2015/2016 2.8703 0.5754 - 0.0321 3.4778 0.6974 1.2682 0.0512 0.3549 0.2224 2.5941 6.0719 2016/2017 2.8382 0.6473 - 0.0313 3.5168 0.6950 1.2049 0.5300 0.3372 0.1822 2.9493 6.4661 2017/2018 2.8267 0.6651 0.0293 0.0303 3.5514 0.6908 1.1685 0.5389 0.3309 0.1907 2.9198 6.4712 2018/2019 2.8140 0.6621 0.0461 0.0300 3.5522 0.6640 1.1312 0.0522 0.3278 0.1518 2.3270 5.8792 2019/2020 2.6687 0.6279 0.0405 0.0285 3.3656 0.6783 1.0414 0.0502 0.3196 0.1548 2.2443 5.6099 2020/2021 2.6562 0.6249 0.0387 0.0285 3.3483 0.6741 1.4505 0.0149 0.3177 0.1558 2.6130 5.9613 Source: Department of Local Government Finance Certified Budget Orders (https://www.in.gov/dlgf/county-specific-information/st-joseph/) Overlapping Rates (1)City Direct Rates(1) Information provided for Portage Township in the City of South Bend. Property tax rates applied to net assessed valuation. Property tax billings are also subject to "circuit breaker" property tax caps on grossed assessed valuation of 1% (homestead residential property), 2% (other residential/rental property), and 3% (nonresidential real and personal property). Therefore, an increase in stated property tax rates will not result in higher property taxes paid for many taxpayers who have reached their cap.(2) Includes South Bend Transportation and South Bend Regional Airport. Previously included South Bend Redevelopment Commission Debt Exempt from Circuit Breaker, final year 2017/2018.Direct and Overlapping Property Tax Rates243
City of South Bend, IndianaDetail of Net Assessed ValuationAssessment For the Year 2020 Payable in 2021South Bend South Bend South Bend South Bend South Bend South BendCentre TwpClay TwpGerman TwpPenn TwpWarren TwpPortage TwpTotalsPercentGross value of land141,259,800$ 30,167,200$ 89,740,400$ 17,913,300$ 988,300$ 471,979,900$ 752,048,900$ Value of improvements578,754,600 132,935,300 505,692,400 111,059,000 22,399,000 3,290,921,940 4,641,762,240 Total value of real estate 720,014,400 163,102,500 595,432,800 128,972,300 23,387,300 3,762,901,840 5,393,811,140 Less: Mortgage, veterans, blind, age 65 & other exemptions(275,900,436) (39,121,927) (107,429,270) (37,726,768) - (1,157,422,285) (1,617,600,686) Investment deductions - - - - - (1,791,473) (1,791,473) Tax-exempt property (48,923,130) (9,642,772) (28,766,081) (13,158,700) - (370,003,752) (470,494,435) Tax increment financing (1) (71,468,889) (8,852,376) (271,719,045) - (23,387,300) (599,853,426) (975,281,036) Tax abatements (2,981,771) - (46,310,444) (2,064,920) - (42,001,667) (93,358,802) Net value of real estate 320,740,174 105,485,425 141,207,960 76,021,912 - 1,591,829,237 2,235,284,708 77.43%Gross personal property assessments 37,154,420 8,865,330 208,679,930 4,255,290 11,583,460 374,757,770 645,296,200 Less: Investment deductions (195,060) - (6,214,510) - - (23,479,629) (29,889,199) Tax-exempt property(1,910,400) (130,530) (1,711,481) (2,705,210) - (90,865,307) (97,322,928) Net value of personal property 35,048,960 8,734,800 200,753,939 1,550,080 11,583,460 260,412,834 518,084,073 17.95%Net value of utilities 20,388,070 8,297,150 28,885,800 1,188,830 118,640 74,602,550 133,481,040 4.62%Total net assessed valuation 376,177,204$ 122,517,375$ 370,847,699$ 78,760,822$ 11,702,100$ 1,926,844,621$ 2,886,849,821$ 100.00%Percentage of Total 13.03% 4.24% 12.85% 2.73% 0.41% 66.75% 100.00%Summary:Real PropertyPersonal Property/UtilitiesTotalPercentTotal value5,393,811,140$ 778,777,240$ 6,172,588,380$ 100.00%Exemptions & deductions(1,619,392,159) (29,889,199) (1,649,281,358) –26.72%Tax exempt property(470,494,435) (97,322,928) (567,817,363) –9.20%Tax increment financing (1)(975,281,036) - (975,281,036) –15.80%Tax abatements(93,358,802) - (93,358,802) –1.51%Total net assessed valuation 2,235,284,708$ 651,565,113$ 2,886,849,821$ 46.77%Percentage of Total 77.43% 22.57% 100.00% (1) Tax Increment Financing data from Indiana Department of Local Government Finance Gateway County Abstract ReportsSource: St. Joseph County Auditor's Office244
City of South Bend, IndianaAssessed Value and Actual Value of Taxable PropertyLast Ten Fiscal Years Less:Total Net(2)Tax Year/RealPersonal UtilitiesTotalNon-Taxed Taxable City Tax %Collection YearPropertyPropertyPropertyValueProperty (1)ValueRateTaxable2011/2012 4,255,238,900$ 560,331,660$ 95,165,650$ 4,910,736,210$ (2,529,861,602)$ 2,380,874,608$ 2.9541 48.48%2012/2013 4,452,887,970 537,500,490 100,832,450 5,091,220,910 (2,720,133,213) 2,371,087,697 3.0239 46.57%2013/2014 4,199,757,500 552,872,520 90,252,180 4,842,882,200 (2,633,155,528) 2,209,726,672 3.1108 45.63%2014/2015 4,192,804,920 557,759,982 86,924,710 4,837,489,612 (2,577,220,294) 2,260,269,318 3.4314 46.72%2015/2016 4,199,285,400 603,870,040 83,786,930 4,886,942,370 (2,609,772,627) 2,277,169,743 3.4778 46.60%2016/2017 4,317,332,400 638,702,010 105,036,200 5,061,070,610 (2,733,570,369) 2,327,500,241 3.5168 45.99%2017/2018 4,450,601,385 651,845,663 93,615,540 5,196,062,588 (2,779,605,371) 2,416,457,217 3.5514 46.51%2018/2019 4,899,699,000 634,665,170 105,339,300 5,639,703,470 (3,068,693,472) 2,571,009,998 3.5522 45.59%2019/2020 5,114,244,500 646,921,594 121,834,780 5,883,000,874 (3,112,064,193) 2,770,936,681 3.3656 47.10%2020/2021 5,393,811,140 645,296,200 133,481,040 6,172,588,380 (3,285,738,559) 2,886,849,821 3.3483 46.77% (1) Non-taxed property includes tax exempt property, tax increment financing property, tax abatements, and adjustments for deductions and exemptions. (2) City tax rate excludes Redevelopment Commission (Hall of Fame) tax rate.Source: St. Joseph County Auditor's OfficeGross Assessed Values245
City of South Bend, IndianaNet Assessed Value of Taxable PropertyLast Ten Fiscal YearsReal EstatePersonalUtilitiesTotalTax Year/ Net Assessed Net Assessed Net Assessed Net Assessed PercentCollection YearValueValueValueValueChange2011/2012 1,858,836,588$ 426,872,370$ 95,165,650$ 2,380,874,608$ 2012/2013 1,858,213,181 412,042,066 100,832,450 2,371,087,697 –0.41%2013/2014 1,687,672,152 431,802,340 90,252,180 2,209,726,672 –6.81%2014/2015 1,753,122,893 420,221,715 86,924,710 2,260,269,318 2.29%2015/2016 1,737,036,616 456,346,197 83,786,930 2,277,169,743 0.75%2016/2017 1,758,787,301 463,676,740 105,036,200 2,327,500,241 2.21%2017/2018 1,831,929,345 490,912,332 93,615,540 2,416,457,217 3.82%2018/2019 1,969,190,797 496,479,901 105,339,300 2,571,009,998 6.40%2019/2020 2,134,421,914 514,679,987 121,834,780 2,770,936,681 7.78%2020/2021 2,235,284,708 518,084,073 133,481,040 2,886,849,821 4.18%Source: St. Joseph County Auditor's Office246
City of South Bend, IndianaAssessed Value of Taxable PropertyLast Ten Fiscal Years NetTax Year/ Total Tax Exempt Tax Increment Tax AssessedCollection YearGross ValuationDeductions (1)PropertyFinancingAbatementsValuation2011/2012 4,910,736,210$ (1,331,068,608)$ (417,907,225)$ (702,724,247)$ (78,161,522)$ 2,380,874,608$ 2012/2013 5,091,220,910 (1,397,134,910) (488,961,977) (761,349,489) (72,686,837) 2,371,087,697 2013/2014 4,842,882,200 (1,344,702,776) (512,692,590) (713,448,152) (62,312,010) 2,209,726,672 2014/2015 4,837,489,612 (1,292,923,103) (510,555,188) (707,010,507) (66,731,496) 2,260,269,318 2015/2016 4,886,942,370 (1,305,921,190) (521,555,123) (718,066,149) (64,230,165) 2,277,169,743 2016/2017 5,061,070,610 (1,334,844,637) (559,770,989) (743,657,399) (95,297,344) 2,327,500,241 2017/2018 5,196,062,588 (1,427,692,210) (553,655,834) (747,216,585) (51,040,742) 2,416,457,217 2018/2019 5,639,703,470 (1,455,171,383) (740,085,791) (806,734,955) (66,701,343) 2,571,009,998 2019/2020 5,883,000,874 (1,580,254,616) (564,471,187) (876,115,204) (91,223,186) 2,770,936,681 2020/2021 6,172,588,380 (1,649,281,358) (567,817,363) (975,281,036) (93,358,802) 2,886,849,821 (1) Includes homestead standard deduction, supplemental standard deduction, mortgage deduction, blind/disabled deduction, investment deduction, veteran's deduction, over 65 years old deduction, and geothermal deduction. In 2009, a new 35% supplemental standard deduction was provided as a part of "circuit breaker" property tax reform legislation.2017/20182018/20192019/20202020/2021Homestead Standard Deduction 842,461,563$ 852,193,020$ 904,481,400$ 932,918,401$ Supplemental Standard Deduction 435,967,478 480,027,204 560,654,768 603,002,529 Mortgage Deduction40,183,948 39,031,742 38,098,290 37,448,388 Age 65 and Over Deduction23,373,704 22,474,117 22,391,995 23,772,326 Veteran's Deduction12,815,878 13,046,591 13,847,494 14,026,257 Blind & Disabled5,567,847 5,353,196 5,982,136 5,939,885 Energy Systems Deduction421,500 472,100 474,200 468,400 Heritage Barn Deduction23,900 24,500 24,500 24,500 Fertilizer/Pesticide Deduction- - - - Investment Deduction66,876,392 42,548,913 34,299,833 31,680,672 Total1,427,692,210$ 1,455,171,383$ 1,580,254,616$ 1,649,281,358$ Source: St. Joseph County Auditor's OfficeDeductions247
City of South Bend, IndianaFund 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021Fund NameNumberActualActualActualActualActualActualActualActualActualActualGeneral Fund101 39,368,431$ 36,251,397$ 36,708,989$ 37,349,387$ 39,362,139$ 39,568,076$ 40,719,333$ 42,705,987$ 40,660,123$ 43,659,873$ Excess Levy103- - 3,648 - - - - - - - Parks & Recreation201 7,824,056 7,207,060 7,365,388 7,487,554 7,902,995 9,033,731 9,591,899 10,048,047 9,566,845 10,271,000 Park Bond (2017 Parks Bond Debt Service) 312- - - - - - 703,118 1,166,972 1,087,915 1,116,956 College Football Hall of Fame Debt Service 313 1,133,205 1,268,179 497,768 906,263 1,361,512 820,071 426,604 - - - River West TIF District (1)324 11,631,287 13,340,354 14,284,734 16,293,240 18,159,311 17,259,902 18,662,835 18,555,308 16,814,400 18,120,969 Cumulative Capital Development406 517,710 463,331 430,786 428,727 440,887 436,823 436,677 455,002 433,812 469,124 South Bend Central Development Area TIF (1) 420 3,671,478 2,590,808 4,309,727 - - - - - - - West Washington Street TIF District422 422,715 493,608 580,987 402,911 453,503 378,994 332,220 261,830 237,261 348,856 Central Medical Service Area TIF District (1) 426 1,606,915 1,221,676 851,211 - - - - - - - River East (Northeast) TIF District429 1,351,048 841,627 1,568,240 2,421,308 2,348,608 2,630,887 3,062,820 2,722,642 2,997,091 4,328,968 Southside Development Area TIF District 430 2,466,203 2,404,416 2,379,212 2,205,822 2,401,252 2,365,692 2,166,637 1,755,231 3,081,721 2,981,728 Erskine Village TIF District432- 1,311,129 9,175 19,183 - - - - - - Douglas Road TIF District435 285,713 323,939 321,895 270,758 345,262 379,255 - - - 269,923 River East (Northeast) Residential TIF436 2,514,048 2,262,765 2,725,909 3,129,681 3,932,947 4,262,917 4,686,651 4,933,558 5,308,975 6,299,000 Airport Urban Enterprise454 111,721 - - - - - - - - - Total72,904,530$ 69,980,289$ 72,037,669$ 70,914,834$ 76,708,415$ 77,136,348$ 80,788,794$ 82,604,579$ 80,188,143$ 87,866,397$ (2) Name changed in 2015 from TIF Airport to River West TIF due to consolidation of Central Development Area and Central Medical TIFs.Source: City of South Bend Accounting RecordsProperty Tax Collections - Cash BasisLast Ten Fiscal Years248
City of South Bend, IndianaCircuit Breaker Property Tax Cap CreditsFiscal Year 2021 Selected Benchmark Local Governments:Total 2020 Per CapitaLocal Unit Credits (1) Population (2)CreditsSouth Bend Civil City46,461,530$ 103,453 449$ Anderson Civil City13,594,300 54,788 248 East Chicago Civil City6,887,640 26,370 261 Elkhart Civil City11,312,160 53,923 210 Evansville Civil City18,434,000 117,298 157 Fort Wayne Civil City21,885,180 263,886 83 Gary Civil City50,656,950 69,093 733 Goshen Civil City2,693,600 34,517 78 Hammond Civil City15,790,900 77,879 203 Jeffersonville Civil City5,174,900 49,447 105 Kokomo Civil City14,279,820 59,604 240 Lafayette Civil City3,004,250 70,783 42 LaPorte Civil City3,626,810 22,471 161 Mishawka Civil City8,393,550 51,063 164 Muncie Civil City20,480,980 65,194 314 Noblesville Civil City6,242,540 69,604 90 St. Joseph County13,451,690 272,912 49 South Bend School Corporation14,107,380 103,453 136 Terre Haute Civil City15,527,630 58,389 266 Sources: (1) Department of Local Governmental Finance 2021 Estimated Property Tax Cap Impact Report (https://www.in.gov/dlgf/county-specific-information/)(2) U.S. Census Bureau, 2020 Census information (http://factfinder.census.gov/).Notes: Circuit breaker tax cap credits are tax savings for taxpayers and revenue losses for local governmental units. Circuit breaker credits are highest in tax districts with the highest tax rates. These are usually districts that include cities or towns because the municipal tax rate is included in the district tax rate. This means that most circuit breaker credits are in cities and towns and in units that overlap cities and towns.249
City of South Bend, Indiana2020/pay 20212011/pay 2012Net AssessedPercent Net AssessedPercentTaxpayerType of BusinessValue (1)Rankof TotalValue (2)Rankof TotalUniversity of Notre DameHigher education89,106,101$ 1 3.09%-$ 0.00%Indiana Michigan Power CompanyElectric utility81,752,870 2 2.83% 39,134,140 4 1.64%Steel Warehouse Co., Inc./ Lock Joint Tube LLCSteel processing44,500,900 3 1.54%- 0.00%Edward Rose of IndianaApartments & real estate 36,626,530 4 1.27% 39,426,100 3 1.66%Federal-Mogul Powertrain SystemsManufacturing35,992,510 5 1.25% 22,906,280 7 0.96%Honeywell International, Inc/ Bendix Corp.Manufacturing35,556,580 6 1.23% 39,884,910 2 1.68%Indiana Bell Telephone Co, Inc./ AT&T Services, Inc. Telecommunications utility 28,517,880 7 0.99% 19,117,270 10 0.80%JVE Investments LLC/ The Tire Rack, Inc.Tire sales24,851,820 8 0.86%- 0.00%Eddy Property Development, Inc./ South Bend Clinic LLP Healthcare clinic23,953,990 9 0.83%- 0.00%Comcast Broadband Security LLCInternet service provider 18,547,480 10 0.64% 19,253,810 9 0.81%Memorial Health Systems, Inc. (Beacon)Healthcare- 0.00% 86,784,850 1 3.65%KSK Scottsdale MallRetail stores- 0.00% 33,871,100 5 1.42%Park Jefferson Realty, LLCReal estate- 0.00% 23,801,100 6 1.00%WalmartRetail stores- 0.00% 20,318,320 8 0.85%Total Net Assessed Value - Ten Largest Taxpayers 419,406,661$ 14.53%344,497,880$ 14.47%Total Net Assessed Value (3) 2,886,849,821$ 100.00%2,380,874,608$ 100.00%Sources: (1) Baker Tilly Municipal Advisors - Annual Information for Continuing Disclosure Compliance(2) 2012 Comprehensive Annual Financial Report(3) St. Joseph County AuditorPrincipal Property Taxpayers - Current and Nine Years AgoDecember 31, 2021250
City of South Bend, IndianaLocal Income Tax RevenueEconomic Development ComponentLast Ten YearsEconomicSouth Bend Actual CityDistribution Development Total County Rate of South Bend Rate of as a Percent CollectionsYearTax Rate (1)DistributionsGrowthDistributionGrowthof TotalDuring Year2012 (2) 0.40%17,649,256$ 8,324,626$ 47.17%9,068,785$ 20130.40%20,611,415 16.78%8,177,352 –1.77% 39.67%8,177,352 20140.40%22,063,091 7.04%8,796,821 7.58% 39.87%8,796,821 20150.40%23,081,049 4.61%9,031,709 2.67% 39.13%9,031,709 20160.40%23,733,626 2.83%9,594,602 6.23% 40.43%9,594,602 20170.40%26,149,949 10.18% 10,433,361 8.74% 39.90%10,433,361 2018 (3) 0.40%26,745,547 2.28% 10,720,959 2.76% 40.09%11,885,489 2019 (4) 0.40%28,586,914 6.88% 11,597,226 8.17% 40.57%12,474,651 2020 (5) 0.40%28,744,062 0.55% 12,123,599 4.54% 42.18%13,405,714 2021 (6) 0.40%30,245,517 5.22% 12,597,307 3.91% 41.65%13,006,489 Total 247,610,426$ 101,397,562$ 40.95%105,874,973$ (2) The City's 2012 Economic Development distribution included $744,159, the amount the State of Indiana underpaid the City in 2011.(3) The City's 2018 Economic Development distribution included $1,164,530 of supplemental, one-time distributions.(4) The City's 2019 Economic Development distribution included $877,425 of supplemental, one-time distributions.(5) The City's 2020 Economic Development distribution included $1,282,115 of supplemental, one-time distributions.(6) The City's 2021 Economic Development distribution included $409,182 of supplemental, one-time distributions.Sources:State of Indiana Department of Local Government Finance Local Income Tax Distribution ReportsCity of South Bend Accounting Records (Local Income Tax-Economic Development Fund #408)(1) This tax was first enacted as of July 1, 1995 at the rate of 0.1% of City residents' adjusted gross income. The rate was increased to 0.2% effective July 1, 1997. The Economic Development tax rate for 2010 and subsequent years was increased by City of South Bend Common Council and the Saint Joseph County Common Council.251
City of South Bend, IndianaLocal Income Tax RevenueCertified Shares ComponentLast Ten YearsSouth Bend Actual CityDistribution Certified Shares Total County Rate of South Bend Rate of as a Percent CollectionsYearTax Rate (1)DistributionsGrowthDistributionGrowthof TotalDuring Year2012 (2) 0.60%22,536,457$ 7,507,631$ 33.31%8,404,117$ 20130.60%22,923,958 1.72%7,846,939 4.52% 34.23%7,711,609 20140.60%25,275,541 10.26%8,645,811 10.18% 34.21%8,483,839 20150.60%26,435,155 4.59%8,859,912 2.48% 33.52%8,754,940 20160.60%27,898,910 5.54%9,454,023 6.71% 33.89%9,275,956 20170.60%31,321,416 12.27% 10,459,265 10.63% 33.39%10,267,404 2018 (3) 0.60%31,947,819 2.00% 12,188,922 16.54% 38.15%12,213,073 2019 (4) 0.60%35,539,674 11.24% 12,148,294 –0.33% 34.18%12,879,847 2020 (5) 0.60%35,901,334 1.02% 12,440,774 2.41% 34.65%13,764,809 2021 (6) 0.60%37,776,651 5.22% 12,912,855 3.79% 34.18%13,334,937 Total 297,556,915$ 102,464,426$ 34.44%105,090,531$ (2) The City's 2012 Certified Shares distribution included $896,487, the amount the State of Indiana underpaid the City in 2011.(3) The City's 2018 Certified Shares distribution included $1,407,558 of supplemental, one-time distributions.(4) The City's 2019 Certified Shares distribution included $731,553 of supplemental, one-time distributions.(5) The City's 2020 Certified Shares distribution included $1,324,035 of supplemental, one-time distributions.(6) The City's 2021 Certified Shares distribution included $422,082 of supplemental, one-time distributions.Sources:State of Indiana Department of Local Government Finance Local Income Tax Distribution ReportsCity of South Bend Accounting Records (Local Income Tax-Certified Shares Fund #404)(1) This tax was first enacted as of July 1, 1997 at the rate of 0.2% of City residents' adjusted gross income. The Certified Shares rate increased 0.1% each year until it reached 0.6% as of July 1, 2001. The above collections/distribution amounts are net of the additional homestead credits that accompanied the passage of this income tax.252
City of South Bend, IndianaLocal Income Tax RevenuePublic Safety ComponentLast Ten YearsSouth Bend Actual CityDistribution Public Safety Total County Rate of South Bend Rate of as a Percent CollectionsYearTax Rate (1) DistributionsGrowthDistributionGrowthof TotalDuring Year2012 (2) 0.25%10,644,975$ 6,056,334$ 56.89%6,605,601$ 20130.25%12,457,864 17.03%5,892,356 –2.71% 47.30%5,892,386 20140.25%13,476,753 8.18%6,380,029 8.28% 47.34%6,380,029 20150.25%13,734,382 1.91%6,466,190 1.35% 47.08%6,466,190 20160.25%14,237,777 3.67%6,791,160 5.03% 47.70%6,791,160 20170.25%15,673,247 10.08%7,467,618 9.96% 47.65%7,467,618 2018 (3) 0.25%15,986,699 2.00%8,487,336 13.66% 53.09%8,487,336 2019 (4) 0.25%17,784,064 11.24%8,560,555 0.86% 48.14%9,205,130 2020 (5) 0.25%17,965,039 1.02%8,766,330 2.40% 48.80%9,703,297 2021 (6) 0.25%18,903,448 5.22%9,094,317 3.74% 48.11%9,391,746 Total 150,864,248$ 73,962,225$ 49.03%76,390,493$ (2) The City's 2012 Public Safety distribution included $549,267, the amount the State of Indiana underpaid the City in 2011.(3) The City's 2018 Public Safety distribution included $105,782 of supplemental, one-time distributions.(4) The City's 2019 Public Safety distribution included $644,575 of supplemental, one-time distributions.(5) The City's 2020 Public Safety distribution included $936,967 of supplemental, one-time distributions.(6) The City's 2021 Public Safety distribution included $297,429 of supplemental, one-time distributions.Sources:State of Indiana Department of Local Government Finance Local Income Tax Distribution ReportsCity of South Bend Accounting Records (Local Income Tax-Public Safety Fund #249)(1) This tax was effective in October 2009 at the rate of 0.25% of City residents' adjusted gross income. The measure is being used to support the Public Safety operations consisting of the Police Department and the Fire Department, to keep the staffing levels at their full complement.253
City of South Bend, IndianaLast Ten YearsUnit of Government2012201320142015201620172018201920202021Total County Certified Distribution 29,898,874$ 29,898,874$ 32,344,207$ 32,962,518$ 34,170,664$ 37,640,869$ 38,393,656$ 42,710,208$ 43,144,837$ 45,398,521$ Less: Homestead Credit (1) (7,362,417) (6,974,918) (7,068,666) (6,527,363) (6,271,754) (6,319,453) (6,445,837) (7,170,534) (7,243,503) (7,621,870) Total Distributive Shares19,907,430$ 22,536,457$ 22,923,956$ 26,435,155$ 27,898,910$ 31,321,416$ 31,947,819$ 35,539,674$ 35,901,334$ 37,776,651$ Distributive Shares / Total County Distribution72.94% 75.38% 76.67% 80.20% 81.65% 83.21% 83.21% 83.21% 83.21% 83.21%AmountSt. Joseph County 7,986,750$ 8,460,192$ 9,314,201$ 9,611,416$ 9,983,016$ 10,908,099$ 11,290,728$ 12,351,986$ 12,279,480$ 12,941,856$ Townships1,244,481 954,332 1,069,408 1,541,211 1,695,662 2,396,851 1,978,069 3,506,429 2,175,833 2,443,619 City of South Bend - Civil City 7,511,976 7,711,609 8,483,839 8,754,940 9,275,956 10,267,284 10,781,364 12,148,294 12,440,774 12,912,855 City of South Bend - Redevelopmen184,790 135,330 161,972 104,972 178,067 191,981 124,929 70,356 8,775 1,099 Other Cities & Towns3,077,335 3,137,086 3,378,481 3,508,422 3,683,131 4,118,009 4,317,405 4,868,878 4,982,004 5,229,085 Libraries1,879,376 1,849,933 2,126,185 2,144,046 2,279,241 2,541,672 2,569,360 2,889,567 2,927,273 3,006,149 Special Districts651,749 675,474 741,455 770,148 803,837 897,520 885,964 1,054,424 1,087,195 1,241,988 Total19,907,430$ 22,536,457$ 22,923,956$ 26,435,155$ 27,898,910$ 31,321,416$ 31,947,819$ 36,889,934$ 35,901,334$ 37,776,651$ Percentage of DistributionSt. Joseph County35.44% 36.91% 40.63% 36.36% 35.78% 34.83% 35.34% 33.48% 34.20% 34.26%Townships5.52% 4.16% 4.67% 5.83% 6.08% 7.65% 6.19% 9.51% 6.06% 6.47%City of South Bend - Civil City33.33% 33.64% 37.01% 33.12% 33.25% 32.78% 33.75% 32.93% 34.65% 34.18%City of South Bend - Redevelopmen0.82% 0.59% 0.71% 0.40% 0.64% 0.61% 0.39% 0.19% 0.02% 0.00%Other Cities & Towns13.65% 13.68% 14.74% 13.27% 13.20% 13.15% 13.51% 13.20% 13.88% 13.84%Libraries8.34% 8.07% 9.27% 8.11% 8.17% 8.11% 8.04% 7.83% 8.15% 7.96%Special Districts2.90% 2.95% 3.23% 2.91% 2.88% 2.87% 2.77% 2.86% 3.03% 3.29%Total100.00% 100.00% 110.26% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%(1) A portion of the certified shares income tax is used for property tax relief through homestead credits for residential property owners.Source: State of Indiana Department of Local Government Finance Local Income Tax Distribution ReportsTotal Local Income Tax Certified Shares Distributions by Taxing Unit254
City of South Bend, Indiana
Ten Largest Water Customers
Percentage of
Total Water
2021 Operating Usage
Customer Name Revenue Revenue CCF*
South Bend Community School Corporation 252,954$ 1.15% 90,914
Memorial Hospital of South Bend 224,308 1.02% 86,034
Irish Hills Apartments 145,599 0.66% 75,815
Indiana University South Bend 129,457 0.59% 55,766
Housing Authority of South Bend 182,807 0.83% 51,763
Honeywell Aerospace Company 104,889 0.48% 41,181
Indian Springs Apartments and Townhomes 81,071 0.37% 37,481
Holy Cross Care Services 47,596 0.22% 35,153
McCormick & Company 75,077 0.34% 33,818
Aramark Uniform Services 48,148 0.22% 25,384
Total of Ten Largest Water Customers 1,291,906$ 5.89%
Total for Operating Revenue for Water Works 21,922,021$ 100.00%
* Hundreds of Cubic Feet
Source: City of South Bend Water Utility
December 31, 2021
255
City of South Bend, Indiana
Ten Largest Sewage Works Customers
Percentage of
Heavy Total
Metered Demand 2021 Wastewater Usage
Customer Name Revenue Surcharge Revenue Revenue CCF*
Cleveland-Cliffs Tek Inc 2,303,856$ -$ 2,303,856$ 5.97% 655,531
Notre Dame - Faclities Building 1,846,347 - 1,846,347 4.78% 351,929
South Bend Ethanol 3,554,729 1,032,795 4,587,524 11.88% 240,566
Five Star Sheets 90,410 - 90,410 0.23% 123,979
Memorial Hospital 436,914 - 436,914 1.13% 68,834
South Bend Community Schools 382,225 - 382,225 0.99% 54,721
Irish Hills Apartments 251,451 - 251,451 0.65% 50,435
Aramark 235,938 38,023 273,961 0.71% 36,592
Housing Authority 215,483 - 215,483 0.56% 35,495
Honeywell 212,841 103 212,944 0.55% 30,097
Total of Ten Largest Sewer Customers 9,530,194$ 1,070,921$ 10,601,115$ 27.46%
Total Operating Revenue for Wastewater 38,610,800$
*Hundreds of Cubic Feet
Source: City of South Bend Sewage Works Utility
December 31, 2021
256
City of South Bend, Indiana
Gasoline Tax Collections - Cash Basis
Last Ten Fiscal Years
Local Road Motor Vehicle
& Street Highway Total %
Year Fund Fund Gasoline Tax Change
2012 1,022,508$ 2,786,592$ 3,809,100$
2013 1,001,871 3,006,122 4,007,993 5.22%
2014 1,017,383 3,682,329 4,699,712 17.26%
2015 1,045,516 3,679,371 4,724,887 0.54%
2016 1,046,446 3,640,561 4,687,007 –0.80%
2017 1,334,565 3,829,167 5,163,732 10.17%
2018 1,827,580 4,717,972 6,545,552 26.76%
2019 1,858,579 4,352,316 6,210,894 –5.11%
2020 1,781,618 3,838,489 5,620,107 –9.51%
2021 1,939,498 4,242,239 6,181,737 9.99%
Source: City of South Bend Accounting Records
Distributions of gas tax revenue are made monthly by the Indiana Department of Revenue to the Local Road and Street (LR&S) and
Motor Vehicle Highway (MVH) funds for use in construction and maintenance of streets and highways. Distributions are based on a
complex formula developed by the State of Indiana. The formula takes into account population, road and street mileage and other
factors.
Due to an improvement in the economy and temporary increase in state funding for two years, total gas tax increased in 2014. Gas
tax remained fairly consistent until 2017, the Indiana General Assembly passed legislation to increase the gas tax. However, after
raising the tax, the State revised its distribution formula to keep more funds at the state-level, resulting in a decrease in distributions
to local governments starting in 2019. Gas tax revenue continued to decline in 2020 because travel and transportation decreased due
to the COVID-19 pandemic.
0
$1 M
$2 M
$3 M
$4 M
$5 M
$6 M
$7 M
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Motor Vehicle
Highway
Local Road &
Street
257
City of South Bend, Indiana
Wheel and Excise Surtax Collections - Cash Basis
Last Ten Fiscal Years
Motor Vehicle
Highway %
Year Fund Change
2012 1,795,538$
2013 2,045,213 13.91%
2014 1,637,707 –19.92%
2015 (1) 2,135,441 30.39%
2016 2,006,547 –6.04%
2017 2,211,731 10.23%
2018 2,152,758 –2.67%
2019 2,065,786 –4.04%
2020 2,131,825 3.20%
2021 2,166,019 1.60%
Source: City of South Bend Accounting Records
Effective January 1, 2004, St. Joseph County enacted a wheel tax and annual license excise surtax as allowed by Indiana State law
to provide additional funding for road maintenance and repair. Indiana State law allows an annual wheel tax of $5-40 per vehicle and
an annual license excise surtax of 2-10%. St. Joseph County has enacted a $25 County Excise surtax. The tax applies to all
passenger cars, trucks less than 11,000 pounds, buses, tractors and motorcycles registered in the County. (Other rates apply to
recreational vehicles, semitrailers and trucks exceeding 11,000 pounds.)
During 2004-2007, the City of South Bend deposited the wheel tax and excise surtax in the Local Roads & Streets Fund. Starting in
2008, the Indiana State Board of Accounts (SBOA) required that the taxes be deposited into the Motor Vehicle Highway Fund.
Starting in 2019, the SBOA required that the tax revenue be split 50/50 between the Motor Vehicle Highway Fund and a new MVH
Restricted Fund.
The tax is collected by the Indiana Bureau of Motor Vehicles, remitted to the County and distributed monthly to the local units based
on population and road miles.
(1) Increase in the 2015 wheel tax due to 13 months of taxes being collected during the year (September 2014 - September 2015).
Prior year tax collections were several months behind.
0
$0.5 M
$1.0 M
$1.5 M
$2.0 M
$2.5 M
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Motor
Vehicle
Highway
258
City of South Bend, Indiana
Hotel/Motel Tax Revenue - Cash Basis
Last Ten Fiscal Years
------------------------------------Paid to City of South Bend--------------------------------------Direct Payments---
Century Professional Cumulative 2008 Century Center Subtotal:Other
Center Sports Develop. Capital Impr. Century Center Energy Consv. Paid to City Century Center Total Hotel/ Percent
Year Fund Fund Fund Bonds Debt Service of South Bend Projects Motel Tax Change
2012 1,313,436$ 489,152$ 150,000$ 398,000$ -$ 2,350,588$ -$ 2,350,588$
2013 1,313,436 - 150,000 398,500 - 1,861,936 - 1,861,936 –20.79%
2014 1,313,450 - 150,000 400,000 - 1,863,450 457,739 2,321,189 24.67%
2015 1,313,450 - 150,000 492,000 - 1,955,450 976,855 2,932,305 26.33%
2016 1,313,450 - 150,000 396,000 - 1,859,450 713,601 2,573,051 –12.25%
2017 1,275,000 - 150,000 394,000 - 1,819,000 546,965 2,365,965 –8.05%
2018 1,275,000 - - 395,000 221,437 1,891,437 687,192 2,578,629 8.99%
2019 1,275,000 - - 395,000 235,000 1,905,000 1,292,506 3,197,506 24.00%
2020 956,250 - - 381,500 221,437 1,559,187 1,220,953 2,780,140 –13.05%
2021 1,037,500 - - 383,000 221,437 1,641,937 538,692 2,180,629 –21.56%
Source: City of South Bend Accounting Records and St. Joseph County Auditor's Office
The hotel/motel tax was enacted in 1973. A tax rate of 6% had been in effect since 1994. In July 2021, the rate was increased to 8%, with 1% going towards
developing a youth sports complex in Mishawaka, 0.5% going towards the repayment of bonds issued in 2022 to fund capital improvement projects at
Potawatomi Zoo, and 0.5% going towards the repayment of bonds issued in 2022 to fund capital improvements to the Morris Performing Arts Center. The tax is
accounted for in a fund of the St. Joseph County government and is administered by the 11 member St. Joseph County Board of Managers for Hotel-Motel Tax.
Appointments to the Board of Managers are made by the Mayors of South Bend and Mishawaka and the St. Joseph County Commissioners.
Proceeds from the hotel/motel tax fund are budgeted and distributed anually to important economic development and tourism projects in the County. South Bend
receives distributions for the operations, maintenance, and debt service of Century Center (convention center). Distributions to the Cumulative Capital
Improvement fund were used for the repayment of the 1994 Century Center Bonds. Distributions to the River West Tax Increment Financing fund (starting in
2015, SCBDA General fund prior) are used for the repayment of the 2008 Century Center Bonds. Distributions to the Century Center Debt Service fund are used
for repayment of the 2015 Energy Conservation Bonds which were issued by the City for the energy improvements made at the Century Center in 2015.
The hotel/motel tax fund also supports other activities not included in the City of South Bend's financial statements such as the South Bend/Mishawaka
Convention and Visitors Bureau. The total distribution of hotel/motel tax to all organizations was $3,861,626 during 2021. The cash balance in the County
Hotel/Motel Tax Fund was $4,707,376 at December 31, 2021.
Century Center Fund
63%
2008 Century Center
Bonds
23%
Century Center
Energy Conservation
Bonds Debt Service
Fund
14%
259
City of South Bend, Indiana
Professional Sports Convention Development Area (PSCDA) Tax - Cash Basis
Last Ten Fiscal Years
Total %
Year PSCDA Tax Change
2012 721,763$
2013 597,111 –17.27%
2014 551,252 –7.68%
2015 628,261 13.97%
2016 760,390 21.03%
2017 409,659 –46.13%
2018 - –100.00%
2019 - 0.00%
2020 - 0.00%
2021 775,414 100.00%
Source: City of South Bend Accounting Records
The Professional Sports Convention Development Area (PSCDA) tax is a combination of Indiana state income tax withholding, local
income tax withholding, and sales tax withholding from businesses and employees in the designated area. The PSCDA tax revenue
shall be used for capital improvements or financing of capital improvements for any facility that is owned by the City and is used as
one of the following: a professional sports franchise for practice or competitive sporting events, a facility used principally for
convention or tourism related events, a museum, a facility used for public attractions of national significance, a performing arts venue
(IC 36-7-31.38-8 (a)(2)). There are currently four professional sports development areas in the State--South Bend,
Indianapolis/Marion County, Evansville, and Ft. Wayne.
The PSCDA taxes are collected by the Indiana Department of Revenue and are remitted on a monthly basis to St. Joseph County
which remits the taxes to the City of South Bend.
The PSCDA was originally established in 1997 to fund debt service and improvements at the College Football Hall of Fame. The City
received PSCDA tax revenue for the original area from January 1998 through December 2017. The original PSCDA included the
College Football Hall of Fame, Century Center, Four Winds Field at Stanley Coveleski Stadium, Morris Performing Arts Center, Palais
Royale Ballroom, and the Studebaker National Museum.
In 2021, the PSCDA was reinstated in downtown South Bend. The revised PSCDA expanded the tax area, adding the Aloft Hotel, the
Courtyard by Marriott South Bend, Downtown, the Doubletree Hotel, Howard Park including its Community Center and the Howard
Park Public House, and the campus of Indiana University South Bend. The maximum amount of covered taxes that may be captured
in the PSCDA is $2 million per year per IC 36-7-31.8-10(e). The allocation provisions shall expire July 1, 2041.
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
260
City of South Bend, Indiana
Cable Television Franchise Fee Collections - Cash Basis
Last Ten Years
Total %
Year Comcast AT&T Franchise Fees Change
2012 691,586$ 192,621$ 854,535$
2013 736,071 191,529 884,207 3.47%
2014 717,156 238,309 927,600 4.91%
2015 723,676 281,873 955,465 3.00%
2016 749,565 256,611 1,005,549 5.24%
2017 771,128 156,394 1,006,176 0.06%
2018 714,471 226,562 941,033 –6.47%
2019 707,836 132,332 840,169 –10.72%
2020 678,238 255,861 934,099 11.18%
2021 670,761 105,016 775,777 –16.95%
Source: City of South Bend Accounting Records
Pursuant to Indiana State law, the City of South Bend receives video franchise fees in the
amount of 5% of gross revenue for cable operations in the City. The payments are made to the
City on a quarterly basis. The franchise agreement with Comcast was effective October 19, 1998
and the franchise agreement with AT&T was effective January 1, 2009.
The video franchise fee revenue is deposited in the General Fund and is used for general
operating costs. A portion of the proceeds ($43,000) are spent on support of the local public
access channel.
Under Indiana State law, the City is required to submit an Annual Franchise Fee Report (State
Form 55122) summarizing franchise fee revenue received during the year and the purpose for
which the revenue was expended. The report must be file with the Indiana Utility Regulatory
Commission by March 1st of the following year.
261
Debt Capacity
These schedules contain information to help the reader assess the affordability of the City's current
levels of outstanding debt and the City's ability to issue additional debt in the future.
262
City of South Bend, Indiana
Computation of Legal Debt Margin
December 31, 2021
Civil City
Net Assessed Valuation (2020 pay 2021) of Taxable Property in South Bend 2,886,849,821$
Debt limit: 2% of one third thereof 19,245,665
Less Bonds subject to limitation:
Economic Development Income Tax Bonds of 2015 (Parks Bond)(4,310,000)
Economic Development Income Tax Bonds, Series 2018 (Zoo Bond)(3,000,000)
General Obligation Bonds, Series 2018 (Fire Station #9)(4,400,000)
Issuance Margin 7,535,665$
Percentage of Debt to Debt Limit 60.84%
Park District
Net Assessed Valuation (2020 pay 2021) of Taxable Property in South Bend 2,886,849,821$
Debt limit: 2% of one third thereof 19,245,665
Less Bonds subject to limitation:
Park District Bonds, Series 2017 (A-K) (11,345,000)
Issuance Margin 7,900,665$
Percentage of Debt to Debt Limit 58.95%
Redevelopment District
Net Assessed Valuation (2020 pay 2021) of Taxable Property in South Bend 2,886,849,821$
Debt limit: 2% of one third thereof 19,245,665
Less Bonds subject to limitation:
Redevelopment District Bonds, Series 2018 (TIF Parks Bond) (9,570,000)
Issuance Margin 9,675,665$
Percentage of Debt to Debt Limit 49.73%
A 2% debt limit is established by the Constitution of the State of Indiana. This limit is established for general
obligation bonds, Economic Development Income Tax revenue bonds, tax revenue notes and other types of
indebtedness. This limitation does not include revenue bonds payable from governmental funds (excluding
Economic Development Income Tax bonds) shown in the general long term debt account group. Indiana law
allows the creation of separate municipal corporations to provide vital governmental functions. Each of these
municipal corporations (including the Redevelopment Authority and Redevelopment Commission) has its own
2% debt limit, even if they have the same or similar boundaries.
263
City of South Bend, Indiana Legal Debt Margin Information2012201320142015201620172018201920202021Civil CityDebt Limit (1)15,599,467$ 15,579,379$ 14,731,511$ 15,068,462$ 15,181,132$ 16,109,715$ 16,036,190$ 16,655,845$ 18,176,894$ 19,245,665$ Total Net Debt Applicable To Limit 7,650,000 6,335,000 4,970,000 7,270,000 5,835,000 5,190,000 13,390,000 12,900,000 12,315,000 11,710,000 Debt Margin7,949,467 9,244,379 9,761,511 7,798,462 9,346,132 10,919,715 2,646,190 3,755,845 5,861,894 7,535,665 Percentage of Debt Limit49.04% 40.66% 33.74% 48.25% 38.44% 32.22% 83.50% 77.45% 67.75% 60.84%Park DistrictDebt Limit (1)15,599,467$ 15,579,379$ 14,731,511$ 15,068,462$ 15,181,132$ 16,109,715$ 16,036,190$ 16,655,845$ 18,176,894$ 19,245,665$ Total Net Debt Applicable To Limit- - - - - 14,075,000 13,725,000 12,955,000 12,170,000 11,345,000 Debt Margin15,599,467 15,579,379 14,731,511 15,068,462 15,181,132 2,034,715 2,311,190 3,700,845 6,006,894 7,900,665 Percentage of Debt Limit0.00% 0.00% 0.00% 0.00% 0.00% 87.37% 85.59% 77.78% 66.95% 58.95%Redevelopment DistrictDebt Limit (1)15,599,467$ 15,579,379$ 14,731,511$ 15,068,462$ 15,181,132$ 16,109,715$ 16,036,190$ 16,655,845$ 18,176,894$ 19,245,665$ Total Net Debt Applicable To Limit 4,085,001 3,405,000 3,010,000 2,615,000 2,210,000 1,795,000 12,955,000 11,855,000 10,725,000 9,570,000 Debt Margin11,514,466 12,174,379 11,721,511 12,453,462 12,971,132 14,314,715 3,081,190 4,800,845 7,451,894 9,675,665 Percentage of Debt Limit26.19% 21.86% 20.43%17.35% 14.56% 11.14% 80.79% 71.18% 59.00% 49.73%(1) A 2% of net assessed value debt limit has been established by the Constitution of the State of Indiana for certain type of debt including general obligation bonds, Economic Development Income Tax bonds and tax revenue notes. This limitation does not apply to revenue bonds payable from governmental or proprietary funds.Last Ten Fiscal Years264
City of South Bend, IndianaRatios of Outstanding Debt by TypeSouth Bend South BendGeneralTotal Debt Estimated DebtFiscal Obligation Revenue Mortgage Notes/Loans Capital Revenue Mortgage Notes/Loans Capital Primary Estimated Per Personal Percent ofYearBondsBondsBondsPayableLeasesBondsBondsPayableLeasesGovernmentPopulation (1)CapitaIncome (2)Income2012-$ 96,410,000$ 17,883,530$ 4,953,639$ 8,336,120$ 117,650,000$ 601,470$ 13,848,901$ 3,641,362$ 263,325,022$ 101,168 2,603$ 3,371,120,096 7.81%2013- 90,172,826 23,079,781 3,030,554 8,777,238 118,121,963 546,973 4,121,010 3,831,933 251,682,278 101,168 2,488 3,371,120,096 7.47%2014- 84,862,512 21,331,548 1,617,491 8,481,375 111,209,874 480,604 3,794,664 3,307,802 235,085,870 101,168 2,324 3,371,120,096 6.97%2015- 107,815,890 13,904,973 4,831,752 8,491,407 102,871,921 5,851,565 3,458,899 4,411,042 251,637,449 101,168 2,487 3,371,120,096 7.46%2016- 99,040,132 12,091,550 4,647,381 10,929,075 95,477,047 5,556,865 2,582,205 6,585,123 236,909,378 101,168 2,342 3,371,120,096 7.03%2017 14,081,478 111,887,531 10,224,972 4,437,115 9,795,612 87,219,814 5,255,484 2,398,821 7,456,169 252,756,996 101,168 2,498 3,492,622,864 7.24%2018 18,737,645 120,483,913 8,300,854 4,108,822 12,832,195 80,178,104 4,951,979 2,231,783 7,994,705 259,820,000 101,168 2,568 3,492,622,864 7.44%2019 18,010,537 122,084,649 10,659,268 3,761,150 11,959,268 71,235,075 120,368 2,016,089 4,763,272 244,609,677 101,168 2,418 3,492,622,864 7.00%2020 17,005,155 118,820,313 8,389,572 3,405,904 13,712,755 64,329,826 40,771 1,816,433 3,113,163 230,633,892 103,453 2,229 3,571,507,919 6.46%2021 15,950,563 118,765,880 6,345,096 3,079,026 12,889,298 58,574,841 - 220,712 2,394,205 218,219,621 103,453 2,109 3,571,507,919 6.11%Percent oftotal debt 7.31% 54.42% 2.91% 1.41% 5.91% 26.84% 0.00% 0.10% 1.10% 100.00%Sources: City of South Bend Comprehensive Annual Financial Reports(1) U.S. Census Bureau, 2010 & 2020 Census information (2) City of South Bend estimated personal income is computed as estimated City population x City of South Bend Median Household Income from U.S. Census Bureau,2012 - 2016 American Community Survey 5-Year Estimates (http://factfinder.census.gov/) Last Ten Fiscal YearsGovernmental ActivitiesBusiness-Type Activities0 $20 M $40 M $60 M $80 M $100 M $120 M $140 M $160 M $180 M2012 2013 2014 2015 2016 2017 2018 2019 2020 2021Governmental Activities DebtCapitalLeasesNotes/LoansPayableMortgageBondsRevenueBondsGeneralObligationBonds $20 M $40 M $60 M $80 M $100 M $120 M $140 M2012 2013 2014 2015 2016 2017 2018 2019 2020 2021Business-Type Activities DebtCapitalLeasesNotes/LoansPayableMortgageBondsRevenueBonds265
City of South Bend, Indiana
Computation of Direct and Overlapping Debt
December 31, 2021
Percentage Amount Ratio of Debt/ Ratio of Debt/
Gross Applicable to Applicable to Debt Per Net Assessed Personal
Debt South Bend South Bend Capita Value Income
Direct Debt:
City of South Bend (1)
General Obligation Bonds 15,950,563$ 100.00% 15,950,563$
Revenue Bonds - Governmental Activities 118,765,880 100.00% 118,765,880
Mortgage Bonds - Governmental Activities 6,345,096 100.00% 6,345,096
Notes Payable - Governmental Activities 3,079,026 100.00% 3,079,026
Capital Leases - Governmental Activities 12,889,298 100.00% 12,889,298
Total Direct Debt and Lease Obligation Debt 157,029,864 1,518$ 5.44%3.56%
Overlapping Debt (2)
Tax Supported Debt:
St. Joseph County 46,795,443$ 28.97% 13,556,640$
South Bend Community School Corporation 81,048,506 53.39% 43,271,797
Penn-Harris-Madison School Corporation 56,759,410 2.55% 1,447,365
Mishawaka-Penn-Harris Public Library 4,775,000 2.09% 99,798
St. Joseph County Public Library 17,270,000 50.00% 8,635,000
St. Joseph County Airport Authority 7,180,000 28.97% 2,080,046
Total Tax Supported Debt 69,090,646
Total Overlapping Debt 69,090,646$ 668$ 2.39%1.57%
Total Direct Debt and Lease Obligation Debt and Overlapping and 226,120,509$ 2,186$ 7.83% 5.12%
Underlying Direct Debt and Lease Obligations
Ratio Factors
Net Assessed Valuation (2020 payable 2021) 2,886,849,821$
Population - 2020 Census (3) 103,453
South Bend Median Household Income 2020 (4) 42,657$
Estimated South Bend Total Personal Income (3 x 4) 4,412,994,621$
Sources:
(1) City of South Bend Comprehensive Annual Financial Report
(2) Overlapping debt percentages are based on the net assessed value of South Bend properties in proportion to the total net assessed value.
Provided by Baker Tilly Municipal Advisors - Annual Information for Continuing Disclosure Compliance
(3) U.S. Census Bureau, 2020 Census information
(4) U.S. Census Bureau, 2016-2020 American Community Survey 5-Year Estimates (http://factfinder.census.gov/)
266
City of South Bend, Indiana
Last Ten Fiscal Years
Total Ratio of Debt Service
Fiscal Total Debt Governmental Fund To Governmental Fund
Year Principal Interest Service Expenditures Expenditures
2012 -$ -$ -$ 162,460,000$ 0.00%
2013 - - - 152,889,475 0.00%
2014 - - - 154,300,097 0.00%
2015 - - - 172,658,733 0.00%
2016 - - - 170,976,084 0.00%
2017 - - - 174,542,237 0.00%
2018 425,000 288,967 713,967 186,199,998 0.38%
2019 940,000 562,846 1,502,846 216,480,126 0.69%
2020 980,000 534,196 1,514,196 191,440,960 0.79%
2021 1,030,000 504,496 1,534,496 181,832,209 0.84%
Source: City of South Bend Comprehensive Annual Financial Reports
Ratio of Annual Debt Service Expenditures for
General Obligation Bonded Debt
to Total Governmental Fund Expenditures
267
City of South Bend, IndianaLast Ten Fiscal YearsPercent of NetGross Debt Service Net G.O. Bonded Debt Net G.O.Tax Year/ Net Assessed General Obligation Monies General Obligation To Net Assessed Bonded DebtCollection YearPopulation (1)ValueBonded DebtAvailableBonded DebtValuePer Capita2011/2012 101,168 2,380,874,608$ -$ -$ -$ 0.00%-$ 2012/2013 101,168 2,371,087,697 - - - 0.00%- 2013/2014 101,168 2,209,726,672 - - - 0.00%- 2014/2015 101,168 2,260,269,318 - - - 0.00%- 2015/2016 101,168 2,277,169,743 - - - 0.00%- 2016/2017 101,168 2,327,500,241 14,081,478 - 14,081,478 0.61%139 2017/2018 101,168 2,416,457,221 18,737,645 - 18,737,645 0.78%185 2018/2019 101,168 2,770,936,681 18,010,537 - 18,010,537 0.65%178 2019/2020 103,453 2,726,534,082 17,005,155 - 17,005,155 0.62%164 2020/2021 103,453 2,886,849,821 15,950,563 - 15,950,563 0.55%154 (1) U.S. Census Bureau, 2010 & 2020 Census informationSource: City of South Bend Comprehensive Annual Financial Reports Ratio of Net General Obligation Bonded Debt toNet Assessed Valuation and Net Bonded Debt Per Capita268
City of South Bend, IndianaSt. Joseph County Hotel/Motel Tax BoardPledged Revenue CoverageLast Ten Fiscal YearsAnnual Debt Service Payments (1)20132015 Unrestricted Century Center Century CenterHotel/Motel Tax Refunding Energy Conservation Total AnnualDebtYearRevenuesBondsBondsDebt ServiceExcess FundsCoverage20123,630,006$ -$ -$ -$ 3,630,006$ n/a20133,852,302 - - - 3,852,302 n/a20144,179,467 344,308 - 344,308 3,835,159 1213.87%20154,749,836 392,688 - 392,688 4,357,149 1209.57%20164,930,183 387,613 236,132 623,744 4,306,439 790.42%20175,239,133 385,813 191,297 577,109 4,662,024 907.82%20185,679,728 386,713 305,736 692,449 4,987,279 820.24%20195,766,555 390,413 415,423 805,836 4,960,719 715.60%20203,454,156 388,556 411,096 799,653 2,654,503 431.96%20215,818,371 390,713 406,711 797,423 5,020,948 729.65%(1) Debt service includes principal and interest paymentsSources:St. Joseph County Hotel/Motel Tax Board financial reportsCity of South Bend Accounting Records269
City of South Bend, Indiana Last Ten YearsGrossNet RevenueOperating Operating Available forDebtYearRevenues (1)Expenses (2)Debt ServicePrincipal (3)InterestTotalCoverage201214,190,243$ 9,021,274$ 5,168,969$ 821,847$ 823,944$ 1,645,791$ 314.07%201313,783,701 10,665,913 3,117,788 1,241,768 809,673 2,051,441 151.98%201414,373,176 10,105,709 4,267,467 1,251,588 769,025 2,020,613 211.20%201514,204,285 10,651,321 3,552,964 1,319,285 732,394 2,051,679 173.17%201615,091,372 12,081,699 3,009,673 977,113 623,226 1,600,339 188.06%201715,283,325 11,421,026 3,862,299 1,606,652 623,909 2,230,561 173.15%201816,767,283 11,766,084 5,001,199 394,873 319,700 714,573 699.89%201920,787,828 13,420,538 7,367,290 2,800,735 925,031 3,725,767 197.74%202021,536,290 13,194,357 8,341,933 1,058,099 442,037 1,500,136 556.08%202121,475,588 14,060,542 7,415,046 1,390,548 424,213 1,814,761 408.60%(1) Operating revenues used to make debt service payments is obtained primarily through monthly user charges to water customers.(2) Operating expenses exclude depreciation.(3) Bonds were refunded in 2019. The principal repayment is not included in the principal total for 2019.Sources:City of South Bend Comprehensive Annual Financial ReportsCity of South Bend Accounting RecordsDebt Service RequirementsSchedule of Revenue Bond CoverageWater Utility Bonds270
City of South Bend, Indiana Last Ten YearsGrossNet RevenueOperating Operating Available forDebtYearRevenues (1)Expenses (2)Debt ServicePrincipal (3)InterestTotalCoverage201230,963,483 13,777,728 17,185,755 4,736,450 3,489,057 8,225,507 208.93%201331,926,078 11,526,554 20,399,524 5,080,425 3,354,156 8,434,581 241.86%201434,009,117 14,313,967 19,695,150 6,320,626 3,376,045 9,696,671 203.11%201536,635,501 13,557,598 23,077,903 4,691,336 3,419,351 8,110,687 284.54%201639,061,562 16,920,370 22,141,192 7,522,453 2,342,132 9,864,586 224.45%201738,794,212 22,942,677 15,851,535 7,666,400 2,197,813 9,864,213 160.70%201839,931,429 16,218,116 23,713,313 7,892,085 2,052,348 9,944,433 238.46%201942,455,078 22,828,605 19,626,473 6,652,079 1,873,664 8,525,743 230.20%202039,653,436 20,625,437 19,027,999 5,791,557 1,501,575 7,293,132 260.90%202141,492,806 27,594,387 13,898,419 5,440,004 1,625,439 7,065,443 196.71%(1) Operating revenues used to make debt service payments is obtained primarily through monthly user charges to sewer customers.(2) Operating expenses exclude depreciation.(3) Bonds were refunded in 2015 and 2021. The principal repayments are not included in the principal total for these years.Sources:City of South Bend Comprehensive Annual Financial ReportsCity of South Bend Accounting RecordsDebt Service RequirementsSchedule of Revenue Bond CoverageWastewater Utility Bonds271
City of South Bend, Indiana
Municipal Sewage Works
Last Ten Years
Annual Wastewater Flow Data 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Capacity (MGD) *48 48 48 48 48 48 48 48 48 48
Average Daily Flow (MGD) 31.77 30.69 32.00 30.20 43.87 35.80 38.47 37.73 31.87 29.20
Peak Flow (MGD)63.70 62.50 68.50 57.70 67.80 62.40 71.00 71.20 71.70 55.70
Annual Flow (MG)11,596 11,203 11,677 11,023 16,014 13,067 14,042 13,077 11,630 10,657
Number of Customers - South Bend Municipal Sewage Works
Year
Total Number
of Customers
2012 39,068
2013 39,322
2014 39,461
2015 39,763
2016 40,073
2017 40,543
2018 40,679
2019 40,547
2020 41,154
2021 41,645
Source: City of South Bend Utilities
* Short-term peak design capacity is 77 mllions of gallons per day (MGD), actual long-term sustainable capacity is 48 MGD.
272
City of South Bend, Indiana
Statement of City-Owned Utility Debt
December 31, 2021
South Bend Municipal Water Utility
Water Works State Revolving Fund (SRF) Loan of 2009 220,712$
Water Works Refunding Revenue Bonds of 2012, Series B 425,000
Water Works Revenue Bonds of 2012 5,080,000
Water Works Refunding Revenue Bonds of 2016 1,500,000
Amended Water Works Revenue Bonds of 2009, Series B 2,814,257
Total Water Utility Debt 10,039,969
South Bend Municipal Wastewater Utility
Sewage Works Revenue Bonds of 2012 15,390,000$
Sewage Works Refunding Revenue Bonds of 2013A 2,110,000
Sewage Works Refunding Revenue Bonds of 2015 11,720,000
Sewage Works Refunding Revenue Bonds of 2020 4,290,000
Sewage Works Refunding Revenue Bonds of 2021 12,335,000
Total Sewage Utility Debt 45,845,000
Total Utility Debt 55,884,969$
Source: City of South Bend Accounting Records
273
City of South Bend, Indiana
Operating Revenues 21,475,588$
Less: Operation and Maintenance Expenses (Net of Depreciation)(14,060,542)
Net Revenues Available for Debt Service 7,415,046
Estimated Combined Maximum Annual Debt Service 1,814,761
Coverage - $5,600,285$
Coverage - %408.60%
December 31, 2021
Estimated Debt Service Coverage Calculation
Water Utility
274
City of South Bend, Indiana
Operating Revenues 41,492,806$
Less: Operation and Maintenance Expenses (Net of Depreciation)(27,594,387)
Net Revenues Available for Debt Service 13,898,419
Estimated Combined Annual Debt Service 7,065,443
Coverage - $6,832,976$
Coverage - %196.71%
December 31, 2021
Estimated Debt Service Coverage Calculation
Wastewater Utility
275
City of South Bend, Indiana
Projected Local Income Tax Revenues
Certified Shares Component
0.6% Certified Shares Tax Rate
Levy is used to Distribute
City of South Bend's Projected Amount
Year of St. Joseph County Estimated Portion Available For
Collection Projected Distribution of Projected Distribution Debt Service
2022 26,153,469$ 34.16%8,933,585$
2023 26,676,538 34.16%9,112,706
2024 27,210,069 34.16%9,294,960
2025 27,754,271 34.16%9,480,859
2026 28,309,356 34.16%9,670,476
2027 28,875,543 34.16%9,863,886
2028 29,453,054 34.16%10,061,163
2029 30,042,115 34.16%10,262,386
2030 30,642,957 34.16%10,467,634
2031 31,255,816 34.16%10,676,987
Total 97,824,641$
Estimated 2% increase to distributions due to improving economic conditions.
Source: Department of Local Government Finance (DLGF)
276
City of South Bend, Indiana
Projected Local Income Tax Revenues
Economic Development Component
0.4% Economic Development Tax Rate
Levy is used to Distribute
City of South Bend's Projected Amount
Year of St. Joseph County Estimated Portion Available For
Collection Projected Distribution of Projected Distribution Debt Service
2022 29,091,734$ 41.47%12,065,405$
2023 29,673,569 41.47%12,305,629
2024 30,267,040 41.47%12,551,742
2025 30,872,381 41.47%12,802,776
2026 31,489,828 41.47%13,058,832
2027 32,119,625 41.47%13,320,009
2028 32,762,018 41.47%13,586,409
2029 33,417,258 41.47%13,858,137
2030 34,085,603 41.47%14,135,300
2031 34,767,315 41.47%14,418,006
Total 132,102,243$
Estimated 2% increase to distributions due to improving economic conditions.
Source: Department of Local Government Finance (DLGF)
277
City of South Bend, Indiana
Projected Local Income Tax Revenues
Public Safety Component
0.25% Public Safety Tax Rate
City of South Bend's Projected Amount
Year of St. Joseph County Estimated Portion Available For
Collection Projected Distribution of Projected Distribution Debt Service
2022 18,182,334$ 47.88%8,705,099$
2023 18,545,981 47.88%8,879,816
2024 18,916,900 47.88%9,057,412
2025 19,295,238 47.88%9,238,560
2026 19,681,143 47.88%9,423,331
2027 20,074,766 47.88%9,611,798
2028 20,476,261 47.88%9,804,034
2029 20,885,786 47.88%10,000,115
2030 21,303,502 47.88%10,200,117
2031 21,729,572 47.88%10,404,119
Total 95,324,400$
Estimated 2% increase to distributions due to improving economic conditions.
Source: Department of Local Government Finance (DLGF)
278
City of South Bend, IndianaLocal Income Tax - Certified Shares ComponentCity of South BendProjectedCertified Shares EstimatedLocal Income Tax Total Debt Excess EstimatedYearRevenuesPaymentsFundsCoverage20228,933,585$ -$ 8,933,585$ n/a20239,112,706 - 9,112,706 n/a20249,294,960 - 9,294,960 n/a20259,480,859 - 9,480,859 n/a20269,670,476 - 9,670,476 n/a20279,863,886 - 9,863,886 n/a202810,061,163 - 10,061,163 n/a202910,262,386 - 10,262,386 n/a203010,467,634 - 10,467,634 n/a203110,676,987 - 10,676,987 n/a203210,890,527 - 10,890,527 n/a203311,108,337 - 11,108,337 n/a203411,330,504 - 11,330,504 n/a203511,557,114 - 11,557,114 n/a203611,788,256 - 11,788,256 n/a203712,024,021 - 12,024,021 n/a203812,264,502 - 12,264,502 n/aTotal178,787,902$ -$ 178,787,902$ Source: City of South Bend Accounting RecordsStatement of Estimated Cash Flow and Debt Service Coverage279
City of South Bend, IndianaStatement of Estimated Cash Flow and Debt Service CoverageLocal Income Tax - Economic Development ComponentCity of South BendSouth BendProjectedBuilding CorporationEconomic Develop. 2015 EDIT2018 EDIT2021 Lease RentalEstimatedLocal Income Tax Revenue Bonds Revenue Bonds Revenue Bonds Total DebtExcess EstimatedYearRevenues(Park Projects)(Potawatomi Zoo Project)(Infrastructure Projects)Payments (1)FundsCoverage202212,065,405$ 372,556$ 332,100$ 605,700$ 1,310,356$ 10,755,049$ 920.77%202312,305,629 375,581 334,500 646,200 1,356,281 10,949,348 907.31%202412,551,742 368,381 326,500 640,300 1,335,181 11,216,560 940.08%202512,802,776 381,031 318,000 643,900 1,342,931 11,459,845 953.35%202613,058,832 373,231 327,750 646,700 1,347,681 11,711,151 968.99%202713,320,009 375,356 321,750 643,700 1,340,806 11,979,202 993.43%202813,586,409 377,181 325,375 640,200 1,342,756 12,243,652 1011.83%202913,858,137 383,616 318,250 641,000 1,342,866 12,515,271 1031.98%203014,135,300 384,038 320,750 641,000 1,345,788 12,789,512 1050.34%203114,418,006 388,463 322,625 640,200 1,351,288 13,066,718 1066.98%203214,706,366 387,175 318,750 639,975 1,345,900 13,360,466 1092.68%203315,000,493 389,813 324,250 643,175 1,357,238 13,643,256 1105.22%203415,300,503 391,781 158,875 645,775 1,196,431 14,104,072 1278.85%203515,606,513 593,094 - 647,775 1,240,869 14,365,644 1257.71%203615,918,643 - - 644,175 644,175 15,274,468 2471.17%203716,237,016 - - - - 16,237,016 n/a203816,561,756 - - - - 16,561,756 n/aTotal241,433,533$ 5,541,297$ 4,049,475$ 9,609,775$ 19,200,547$ 222,232,986$ (1) Debt payments include principal and interest.Source: City of South Bend Accounting Records280
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the
environment within which the City's financial activities take place.
281
City of South Bend, IndianaSouth BendSouth BendMetropolitan Metro AreaSouth BendCity of City of Percent Area Percent Total Personal Percent Metro Area Percent City of South Bend PercentSouth Bend Increase/ Median Family Increase/ Income (3) Increase/ Per Capita Increase/ South Bend Public School Increase/YearPopulation (1)(Decrease)Income (2)(Decrease)(Millions)(Decrease)Income (3)(Decrease)Median Age (4)Enrollment (5)(Decrease)2012 101,16840,873$ 11,948$ 37,505$ 33.3 18,9822013 101,168 0.00% 40,873 0.00% 12,196 2.08% 38,265 2.03%33.3 19,680 3.68%2014 101,168 0.00% 34,656 –15.21% 12,887 5.67% 40,342 5.43%33.9 19,308 –1.89%2015 101,168 0.00% 34,656 0.00% 13,560 5.22% 42,362 5.01%34.0 18,680 –3.25%2016 101,168 0.00% 34,523 –0.38% 14,074 3.79% 43,880 3.58%34.9 18,110 –3.05%2017 101,168 0.00% 35,758 3.58% 14,074 0.00% 43,880 0.00%34.9 17,697 –2.28%2018 101,168 0.00% 35,758 0.00% 14,700 4.45% 45,681 4.10%33.4 17,225 –2.67%2019 101,168 0.00% 32,511 –9.08% 15,232 3.62% 47,244 3.42%32.8 16,725 –2.90%2020 103,453 2.26% 41,599 27.95% 23,392 53.57% 41,599 –11.95%34.7 15,906 –4.90%2021 103,453 0.00% 42,657 2.54% 24,969 6.74% 42,657 2.54%33.7 16,297 2.46%Sources:(1) U.S. Census Bureau, 2010 & 2020 Census information (http://factfinder.census.gov/)(2) U.S. Census Bureau, 2016-2020 American Community Survey 5-Year Estimates (http://factfinder.census.gov/)(3) Bureau of Local Economic Analysis, South Bend-Mishawaka, IN_MI Metropolitan Area Profile (https://www.bea.gov/).(4) U.S. Census Bureau, Profile of General Demographic Characteristics (http://factfinder.census.gov/)(5) Indiana Department of Education, South Bend School Corporation Total Enrollment (http://compass.doe.in.gov/)(6) Website Updated - now data.census.gov/Demographic StatisticsLast Ten YearsPersonal income includes net earnings by place of residence; dividends, interest, and rent; and personal current transfer receipts received by the residents of South Bend-Mishawaka.Metropolitan statistical area (MSA)- An area consisting of a core county or counties in which lies an urban area having a population of at least 50,000, plus adjacent counties having a high degree of social and economic integration with the core counties as measured through commuting ties.282
City of South Bend, Indiana
South Bend South Bend South Bend
Metropolitan Percent Metropolitan Percent Metropolitan
Area Labor Increase/Area Increase/ Unemployment
Year Force (1)(Decrease)Unemployment (1)(Decrease)Rate (1)
2012 151,242 n/a 13,922 n/a 9.21%
2013 151,509 0.18%11,234 –19.31%7.41%
2014 153,112 1.06%9,044 –19.49%5.91%
2015 156,971 2.52%7,291 –19.38%4.64%
2016 159,085 1.35%6,694 –8.19%4.21%
2017 159,240 0.10%5,689 –15.01%3.57%
2018 161,816 1.62%5,937 4.36%3.67%
2019 162,013 0.12%5,609 –5.52%3.46%
2020 158,137 –2.39%8,829 57.41%5.58%
2021 157,854 –0.18%5,110 –42.12%3.24%
Source:
Demographic Statistics (Continued)
Last Ten Years
(1) Bureau of Labor Statistics, Local Area Unemployment Statistics: South Bend-Mishawaka IN-MI Metropolitan
Statistical Area (https://www.bls.gov/lau/metrossa.htm) - December of each year
Metropolitan statistical area (MSA)- An area consisting of a core county or counties in which lies an urban area
having a population of at least 50,000, plus adjacent counties having a high degree of social and economic
integration with the core counties as measured through commuting ties.
283
City of South Bend, Indiana
Employment By Type and Industry
Last Ten Years
Description 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Total employment 166,847 165,809 165,629 168,314 171,852 175,721 176,231 178,811 165,424 166,945
By Type:
Wage and salary employment 136,844 136,390 136,105 138,475 141,683 144,810 145,127 146,253 137,774 136,613
Proprietors employment 30,003 29,419 29,524 29,839 30,169 30,911 31,104 32,558 27,650 30,332
Farm proprietors employment 1,342 1,305 1,310 1,303 1,295 1,292 1,277 1,210 571 1,200
Nonfarm proprietors employment 28,661 28,114 28,214 28,536 28,874 29,619 29,827 31,348 27,079 29,132
By Industry:
Farm employment 1,770 1,685 1,692 1,686 1,690 1,674 1,633 1,620 720 1,562
Nonfarm employment 165,077 164,124 163,937 166,628 170,162 174,047 174,598 177,191 164,704 165,383
Private nonfarm employment 146,880 146,807 147,148 150,006 153,455 157,232 157,803 160,477 150,203 148,949
Forestry, fishing, and related activities 270 301 287 (D) (D) (D) (D) (D) (D) (D)
Mining, quarrying, and oil and gas extraction 105 154 173 (D) (D) (D) (D) (D) (D) (D)
Utilities (D) (D) (D) (D) (D) (D) (D) (D) 255 (D)
Construction 6,928 6,631 6,811 6,827 7,341 7,736 8,216 8,308 7,626 8,243
Manufacturing 17,619 17,655 17,139 17,523 18,098 18,444 18,670 18,422 15,309 16,287
Wholesale trade 7,250 7,097 6,870 7,265 7,477 7,678 7,064 6,978 6,959 6,991
Retail trade 17,813 17,665 17,612 17,735 17,912 18,186 17,968 17,794 16,689 16,801
Transportation and warehousing (D) (D) (D) (D) (D) (D) (D) (D) 5,749 (D)
Information 2,080 2,114 2,265 2,266 2,147 2,053 1,993 2,001 1,790 1,676
Finance and insurance 7,021 6,796 6,212 6,055 6,143 6,188 6,668 6,435 6,199 6,320
Real estate and rental and leasing 6,100 5,986 6,064 6,271 6,225 6,502 6,423 6,621 5,901 (D)
Professional, scientific, and technical services 7,168 E 6,981 E 7,411 7,419 7,805 (D) 8,149 8,412 7,986 8,499
Management of companies and enterprises 1,403 E 1,513 E 2,194 2,331 2,390 (D) 2,801 2,761 2,751 (D)
Administrative and support and waste managem 8,356 7,912 7,785 8,142 8,169 8,657 8,442 8,432 8,065 (D)
Educational services 13,747 14,121 (D) (D) (D) 15,284 (D) 15,575 16,127 (D)
Health care and social assistance 21,256 21,870 (D) (D) (D) 23,679 (D) 23,654 23,249 (D)
Arts, entertainment, and recreation 2,811 2,767 2,809 2,749 2,742 2,852 3,132 4,118 3,727 3,191
Accommodation and food services 11,576 11,816 12,189 12,348 12,811 13,248 13,200 13,880 12,329 11,221
Other services (except government and governm 10,031 10,038 9,939 10,316 10,385 10,569 10,512 10,516 9,256 9,613
Government and government enterprises 18,197 17,317 16,789 16,622 16,707 16,815 16,795 16,714 14,501 16,434
Federal civilian 1,090 1,071 1,010 962 944 952 972 953 875 986
Military 1,043 1,006 990 1,002 1,023 1,005 972 932 855 932
State and local 16,064 15,240 14,789 14,658 14,740 14,858 14,851 14,829 12,771 14,516
State government 3,555 3,483 3,272 3,096 3,077 3,109 3,128 2,822 2,877 3,153
Local government 12,509 11,757 11,517 11,562 11,663 11,749 11,723 (D) 9,894 11,363
Source: Bureau of Local Economic Analysis (https://www.bea.gov/)
2 - Excludes limited partners.
E The estimate shown here constitutes the major portion of the true estimate.
(D) Not shown to avoid disclosure of confidential information, but the estimates for this item are included in the totals.
Last updated: November 16, 2021-- new statistics for 2020; revised statistics for 2016-2019.
1 - The estimates of employment for 2001-2006 are based on the 2002 North American Industry Classification System (NAICS). The estimates for 2007-
2010 are based on the 2007 NAICS. The estimates for 2011-2016 are based on the 2012 NAICS. The estimates for 2017 forward are based on the
2017 NAICS.
Metropolitan statistical area (MSA)- An area consisting of a core county or counties in which lies an urban area having a population of at least 50,000,
plus adjacent counties having a high degree of social and economic integration with the core counties as measured through commuting ties.
284
City of South Bend, Indiana
Comparison of Growth Rates in Personal Income
St. Joseph County, the State of Indiana, and U.S.
Last Ten Years
Personal Income Annual Percentage Increase
Calendar St. Joseph Co. (1) Indiana (2) U.S. (3)
Year ($ in thousands)($ in millions)($ in billions)St. Joseph Co.Indiana U.S.
2011 9,819,885$ 246,494$ 12,460$ n/a n/a n/a
2012 10,333,621 258,136 13,998 5.23%4.72%12.35%
2013 10,502,619 261,702 14,194 1.64%1.38%1.40%
2014 11,090,206 272,245 14,977 5.59%4.03%5.52%
2015 11,782,838 282,821 15,685 6.25%3.88%4.73%
2016 11,803,625 290,604 16,097 0.18%2.75%2.62%
2017 12,375,498 301,644 16,850 4.84%3.80%4.68%
2018 12,929,747 316,782 17,706 4.48%5.02%5.08%
2019 13,107,730 329,682 18,424 1.38%4.07%4.06%
2020 13,883,877 350,760 19,628 5.92%6.39%6.53%
3.36%4.41%4.23%
3.94%4.01%5.22%
Source: Bureau of Local Economic Analysis (https://www.bea.gov/)
(1) Last updated: November 16, 2021-- new statistics for 2020; revised statistics for 1998-2019. 2021 information not yet available.
(2) Last updated: March 23, 2022—preliminary statistics for 2021; revised statistics for 2010-2020.
(3) Last updated: November 4, 2021.
Note -- All dollar estimates are in current dollars (not adjusted for inflation). Statistics presented in thousands of dollars do not indicate
more precision than statistics presented in millions of dollars.
Average Annual Growth - Most Recent 5 Years
Average Annual Growth - Most Recent 10 Years
285
City of South Bend, Indiana
2020 2011
Number of Percent Number of Percent
Employer Type of Business Employees of Total Rank Employees of Total Rank
Beacon Health System (Memorial) Health Care 7,000 4.43% 1 3,000 2.25% 3
University of Notre Dame Higher Education 6,447 4.08% 2 5,213 3.91% 1
South Bend Community School Corp Public Schools 2,773 1.75% 3 3,298 2.47% 2
St. Joseph County Government 1,397 0.88% 4 1,049 0.79% 10
City of South Bend Government 1,290 0.82% 5 1,133 0.85% 9
Four Winds Casino Casino and restaurants 1,250 0.79% 6 - 0.00%
Indiana University South Bend Higher Education 1,166 0.74% 7 1,445 1.08% 6
Honeywell International Aerospace Manufacturing 700 0.44% 8 - 0.00%
Walmart Department stores 700 0.44% 9 - 0.00%
Ivy Tech Community College Higher Education 654 0.41% 10 - 0.00%
Saint Joseph Health System Health Care - 0.00%2,221 1.66% 4
The Diocese of Fort Wayne/South Bend Parochial Schools - 0.00%1,456 1.09% 5
AM General Corporation Manufacturing/Assembly - 0.00%1,349 1.01% 7
1st Source Bank Bank/Financial - 0.00%1,223 0.92%8
Total Number of Employees 23,377 14.78%21,387 16.03%
Total Employees - South Bend Metropolitan Area Labor Force (1) 158,137 100.00%133,433 100.00%
Sources:
Principal Employers
Current and Ten Years Ago
Employers' websites and the Indiana Department of Workforce Development. Note: Number of employees data not available for 2021.
(1) Bureau of Labor Statistics, Local Area Unemployment Statistics: South Bend-Mishawaka IN-MI Metropolitan Statistical Area
(https://www.bls.gov/data/)
286
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the
information in the City's financial report relates to the services the City provides and the activities it
performs.
287
City of South Bend, Indiana Last Ten Fiscal YearsFunction/ Program2012201320142015201620172018201920202021Police:Physical arrests 3,174 2,959 2,608 2,483 2,342 2,229 2,664 2,028 1,785 1,875 Parking violations1,051 1,019 299 691 480 919 548 293 662 649 Traffic violations7,561 2,180 1,487 4,327 6,437 4,701 2,580 2,038 1,802 923 Fire:Emergency responses15,720 15,865 15,902 15,340 15,886 16,829 22,659 22,166 21,958 18,003 Fires extinguished214 220 227 213 236 339 278 393 360 290 Inspections3,325 2,273 3,133 3,778 2,148 2,522 3,525 24 634 1,450 Refuse collection:Refuse collected (tons per day) (1) 128 122 128 149 139 142 142 148 170 162 Other public works:Street resurfacing (miles)17 21 22 17 20 19 21 21 21 19 Potholes repaired (tonnage)117 691 826 526 462 363 476 878 365 317 Parks and recreation:Athletic field permits issued133 93 120 113 427 142 103 428 428 347 Fitness Center Admissions61,002 63,671 67,428 64,547 67,294 73,405 68,306 71,262 65,432 84,748 Water:New billable housing starts160 242 141 108 189 214 119 149 107 159 Water mains breaks66 80 134 99 53 45 67 86 48 89 Average daily consumption 16,600 15,300 11,000 14,500 14,640 14,358 14,640 14,400 14,866 11,294 (thousands of gallons)Wastewater:Average daily sewage treatment 31,770 30,690 31,991 30,200 43,874 35,800 37,110 37,730 31,870 34,559 (thousands of gallons)Source: City of South Bend Departments Operating Indicators by Function/ProgramAs of December 31,288
City of South Bend, IndianaCapital Asset and Infrastructure Statistics by Function/Program Last Ten Fiscal YearsFunction/program2012201320142015201620172018201920202021PoliceStations 1 1 1 1 1 1 1 1 1 1 Patrol units19 19 19 19 19 19 19 19 19 19 FireStations11 11 11 11 11 11 11 11 11 11 Training Center- - - 1 1 1 1 1 1 1 Rescue units33 33 33 33 33 33 33 33 33 33 Refuse collectionCollection trucks23 19 19 19 19 19 19 19 19 18 Other public worksStreets (miles)499 525 525 525 525 525 525 525 525 525 Streetlights2,500 2,700 2,700 3,000 3,015 3,015 3,015 3,015 3,056 3,056 Traffic signals164 165 167 162 158 164 163 163 160 160 Parks and recreationAcreage1,292 1,292 1,292 1,292 1,292 1,292 1,300 1,300 1,300 1,300 Playgrounds23 23 23 23 23 23 23 23 37 37 Baseball/softball diamonds27 27 27 27 27 27 27 27 23 23 Soccer/football fields17 19 19 19 19 19 19 19 19 19 Swimming pools2 2 2 2 2 2 2 2 2 2 Splash Pads5 5 6 6 6 7 8 8 9 9 Community center 5 5 5 3 3 3 4 4 6 6 WaterWater mains (miles)582 583 584 583 583 583 586 587 587 587 Fire hydrants5,377 5,401 5,436 5,448 5,439 5,459 5,539 5,550 5,647 5,647 Storage capacity (thousands of gallons)17,300 17,300 17,300 17,300 17,300 17,300 17,300 17,300 17,300 17,300 WastewaterSanitary sewers (miles)534 528 526 527 527 527 535 537 251 246 Storm sewers (miles)127 133 133 133 133 155 155 155 156 193 Treatment capacity (thousands of gallons) 48,000 48,000 48,000 48,000 48,000 48,000 48,000 48,000 48,000 48,000 Source: City of South Bend DepartmentsAs of December 31,289
City of South Bend, Indiana
New Construction - Number of Permits and Property Values
Last Ten Fiscal Years
(Dollar Amounts in 000's)
Residential Commercial Manufacturing
Number of Value Number of Value Number of Value Total Value Percent
Year Permits ($ in 000's)Permits ($ in 000's)Permits ($ in 000's)($ in 000's)Change
2012 45 9,827$ 11 21,247$ 2 2,291$ 33,365$ n/a
2013 50 15,136 8 4,954 1 160 20,250 –39.31%
2014 51 13,101 12 10,392 -- 23,493 16.01%
2015 (1) 77 18,615 70 415,219 6 28,460 462,294 1867.79%
2016 61 15,215 22 53,622 -- 68,837 –85.11%
2017 88 23,195 13 17,843 -466 41,504 –39.71%
2018 92 26,069 19 41,335 -- 67,404 62.40%
2019 85 23,322 17 72,746 1 60,000 156,068 131.54%
2020 45 13,846 16 19,037 -21,000 53,883 –65.47%
2021 89 30,996 13 28,022 1 6,705 65,723 21.97%
(1) Increase in commercial construction due to major construction taking place at the University of Notre Dame.
Source: Consolidated City/County Building Department
290
City of South Bend, Indiana
Activity 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
General Government:
Mayor's Office 6 6 7 7 6 7 7 7 9 12
City Clerk's Office 5 5 5 5 5 5 5 4 5 4
Common Council (elected officials, part-time) 9 9 9 9 9 9 9 9 9 9
Administration and Finance (1), (2) 22 20 21 22 22 21 23 23 20 17
Human Resources (1) - - - - - - - - 6 5
Diversity & Inclusion (1) - - - - - - - - 3 3
Human Rights 6 6 6 5 5 5 4 5 5 6
Legal Department 9 10 10 11 10 10 11 10 12 10
Engineering 15 13 14 16 18 18 23 21 24 23
Office of Sustainability - - - - - - 1 2 2 1
Safety and Risk 3 3 3 1 2 2 2 2 1 -
311 Call Center - 5 7 7 - - - - - -
Public Safety:
Police Department 291 291 295 300 287 285 283 270 271 267
Communication Center 35 33 34 - - - - - - -
Fire Department 249 255 257 259 268 272 262 265 257 256
Culture and Recreation:
Parks and Recreation (3) 114 113 87 88 89 94 90 94 91 86
Convention and Events Management 14 14 14 14 12 9 10 11 9 9
Economic Development:
Department of Community Investment 24 26 25 25 23 22 24 28 29 27
Neighborhood Services (4) - - - - 4 4 4 4 34 32
Highways and Streets:
Streets Division / Traffic & Lighting 52 60 59 50 46 53 54 56 58 57
Enterprise Funds:
Water Works 73 70 68 67 66 66 63 63 63 62
Wastewater 46 45 42 43 44 44 42 43 42 40
Organic Resources 6 6 6 6 6 6 6 6 6 6
Sewer 39 34 33 36 37 41 39 41 41 40
Solid Waste 24 26 22 25 29 23 22 23 22 22
Building Department 13 14 13 13 14 14 15 13 15 16
Code Enforcement/Animal Resource Center (4) 25 24 23 23 18 25 26 27 - -
Century Center - - - - - - 8 6 5 5
Internal Service Fund:
311 Call Center - - - - 6 6 7 7 7 7
Innovation & Technology (2) - - - - - 17 20 21 22 22
Central Services Fund 42 43 38 38 40 41 39 37 35 31
Total Positions 1,122 1,131 1,098 1,070 1,066 1,099 1,099 1,098 1,103 1,075
Source: City of South Bend Personnel Records
(1) Human Resources and Diversity & Inclusion were formerly part of the Department of Administration & Finance
(2) Innovation & Technology was formerly part of the Department of Administration & Finance
(3) Potawatomi Zoo employees (33) became employees of the Potawatomi Zoological Society through a public-private partnership as of January 1, 2014.
(4) Code Enforcement and Animal Resource Center moved from an Enterprise to a Governmental fund in 2020
Full-Time City Government Employees by Department
Last Ten Fiscal Years
As of December 31,
291
City of South Bend, IndianaActivity2012201320142015201620172018201920202021 General Government75 77 82 83 77 77 85 83 96 90 Public Safety575 579 586 559 555 557 545 535 528 523 Culture and Recreation128 127 101 102 101 103 100 105 100 95 Economic Development24 26 25 25 27 26 28 32 63 59 Highways and Streets52 60 59 50 46 53 54 56 58 57 Enterprise Funds226 219 207 213 214 219 221 222 194 191 Internal Service Funds42 43 38 38 46 64 66 65 64 60 Total Positions1,122 1,131 1,098 1,070 1,066 1,099 1,099 1,098 1,103 1,075 Source: City of South Bend Personnel Records - Excludes seasonal, part-time, and temporary positionsAs of December 31,Full-Time City Government Employees by Department (Continued)Last Ten Fiscal YearsGeneral Government8%Public Safety49%Culture and Recreation9%Economic Development5%Highways and Streets5%Enterprise Funds18%Internal Service Funds6%Full-Time Employees as of December 31, 20211,000 1,020 1,040 1,060 1,080 1,100 1,120 1,140 Full-Time Employees at Year-End292
City of South Bend, Indiana
Year Percent Base Salary Percent Base Salary Non-bargaining Teamsters
1991 0.92% 20,256$ 2.52% 20,369$ 3.00%.25¢ per hour
1992 4.69% 21,206 2.45% 20,869 3.00%.30¢ per hour
1993 0.44% 21,300 5.00% 21,912 4.24%0.00%
1994 2.35% 21,800 0.00% 21,912 1.5% + $300 bonus .15¢ per hour
1995 4.82% 22,850 3.00% 22,569 1.5% + $300 bonus .30¢ per hour
1996 4.38% 23,850 5.00% 23,697 3.00%.27¢ per hour
1997 4.19% 24,850 4.87% 24,850 3.00%.33¢ per hour
1998 4.63% 26,000 0.60% 25,000 3.00%.37¢ per hour
1999 3.85% 27,000 2.60% 25,650 3.25%3.50%
2000 5.56% 28,500 9.34% 28,045 3.50%3.50%
2001 9.74% 31,275 11.52% 31,275 3.50%4.00%
2002 4.50% 32,682 4.03% 32,534 4.00%4.00%
2003 5.57% 34,504 4.04% 33,850 4.00%4.00%
2004 6.01% 36,578 5.17% 35,600 4.00%4.00%
2005 9.36% 40,000 12.36% 40,000 4.00%4.00%
2006 2.50% 41,000 2.00% 40,800 2.00%4.25%
2007 2.50% 42,025 2.50% 41,820 $750/0%.38¢ per hour
2008 3.50% 43,496 3.50% 43,285 3.00%3.00%
2009 2.20% 44,453 2.00% 44,150 2.00%2.00%
2010 0.00% 44,453 6.80% 47,150 2.00%2.00%
2011 11.50% 49,563 4.06% 49,066 2.00%0.00%
2012 2.00% 50,554 2.00% 50,047 2.00%2.00%
2013 2.50% 51,818 3.00% 51,550 2.00%2.00%
2014 2.50% 53,113 3.00% 53,100 2.00%2.00%
2015 2.20% 54,281 2.20% 54,268 2.00%2.00%
2016 2.20% 55,475 2.20% 55,462 2.00%2.00%
2017 2.50% 56,861 2.20% 56,682 2.00% 1% and 1.5% INPRS Contribution
2018 2.00% 57,998 2.00% 57,957 2.00% 0.75% and 1.5% INPRS Contribution
2019 2.00% 59,158 2.00% 59,116 2.00% 0.75% and 1.5% INPRS Contribution
2020 2.00% 60,341 2.00% 60,298 2.00% 0.75% and 1.5% INPRS Contribution
2021 5.00% 63,358 2.00% 61,505 0.30% 1% and 1.5% INPRS Contribution
Salary Rate Comparison
1991 through 2021
---1st Class Fire Fighter-------1st Class Patrol Officer----
293
City of South Bend, Indiana
Limits of
Type of Coverage Liability
Liability
Comprehensive General Liability Statutory
Police Professional Liability Statutory
Ambulance Malpractice Liability Statutory
Premises Liability Statutory
(Clay Utilities, Century Center,
Parking Garages)
CGL - Stadium Statutory
Liquor Liability 1/1/21-1/1/22 1,000,000$ 2,708$ Premium
Crime
Public Employee Dishonesty 12/31/20-12/31/21 2,000,000$ 13,591$ Premium
Property 7/1/21-7/1/22
All risk blanket building & contents 500,000,000$ 911,010$ Premium
Business Income Included in above
Machinery Breakdown Included in above
Fine Arts Included in above
Valuable Papers & Records Included in above
Contractors Equipment Included in above
Flood Insurance - Pump station & contents 1/15/21-1/15/22 869,500$ 9,714$ Premium
Eddy Street Commons Parking Garage 1/1/21-1/1/22
Building & Infrastructure 36,000,000$ 29,298$ Premium
Business Income & Rental Value 15,000,000$
Flood 25,000,000$
Earthquake 25,000,000$
Other 1/1/21-1/1/22
Workers Compensation Statutory
Third Party Fee Statutory 48,000$ Fee
Excess Over Self-insured Statutory 155,415$ Premium/Fee
$400,000 Retention Each Accident
Sources:
City of South Bend Administration & Finance Department
Gibson Insurance Company
Self-Insured
Self-Insured
Self-Insured
Self-Insured
Included in above
Included in above
Included in above
Included in above
Included in above
Included in above
Included in above
Included in above
Self-Insured
Insurance Coverage
2021
Estimated
Annual Premium
Self-Insured
294
City of South Bend, Indiana
2018 2019 2020 2021 2018 2019 2020 2021
Authorized Officers 237 228 237 232 Traffic Signals 163 163 160 160
Vehicles 331 372 343 333 Street Lights (City maintained)3,015 3,015 3,056 3,056
Special Officer Groups:Miles of Streets 525 525 525 525
K-9 Patrols 7 7 7 7 Miles of Sidewalks 707 707 707 707
SWAT Team 18 18 18 18 Miles of Alleys 398 398 398 398
NEST - Special Neighborhood Unit 12 12 12 12 Miles of Sanitary Sewers and Storm Drains 692 692 692 632
Motorcycle Patrol Officers 8 8 8 8 City Owned Vehicles & Related Units 1,125 1,274 1,133 1,132
Bomb Squad 3 3 3 3
Crime Prevention Officers 3 3 5 1
Crime Data:
Murders 9 11 28 19 2018 2019 2020 2021
Rapes 66 67 87 70 Work orders for sign maintenance,
Robbery 365 277 340 355 installation or removal 1,642 n/a 1,550 2,020
Aggravated Assault 782 711 1,426 1,997 Miles of yellow and white paint 311 n/a 203 -
Residential Burglary 685 970 461 475 Pre-formed plastic arrows used for
Non-residential Burglary 350 - 258 190 street markings 216 n/a 160 -
Larceny 3,288 2,956 2,783 2,587 Crosswalk painting at intersections 220 n/a 185 30
Auto Theft 510 480 538 631 Temporary No Parking postings 512 n/a n/a -
Arson 47 71 48 34 Railroad Crossings 4 n/a n/a 6
Calls for Service/Dispatches 96,853 98,536 96,237 92,818 Special Signs Built 532 n/a 225 200
Miles Driven 2,993,092 3,098,275 1,978,102 1,885,132
Arrests 2,664 2,109 1,785 1,875 Barricades set up for events (# of events): 136 n/a n/a 30
Block Parties 28 n/a n/a 10
2018 2019 2020 2021 2018 2019 2020 2021
Sworn Firefighters Customers 40,680 40,547 41,154 40,794
(46 of which are Paramedics)255 265 256 256 Dry Tons of Sludge produced per year 2,565 2,565 2,616 2,581
Fire Apparatus 20 20 20 20 Miles of Sanitary Sewer Lines 232 232 251 246
Hazardous Materials Truck 1 1 1 1 Miles of Storm Sewer Lines 155 155 156 193
Reserve Pumper Trucks 3 3 3 3 Miles of Combined Lines (not separated)305 305 305 293
Reserve Ladder Trucks 2 2 3 3
River Rescue Boats 3 3 3 3
Ambulances 4 4 4 4
Neonatal (Newborn) Units 3 3 3 - 2018 2019 2020 2021
Fire Runs 3,894 5,898 5,826 4,765 Customers/Meters 41,275 41,135 41,132 42,333
Ambulance Runs 18,765 15,980 16,132 13,238 Irrigation Customers 2,905 2,902 2,857 2,805
Wells/Pumps in service 30 30 29 30
Pumping Capacity 40 m.g.d. 48 m.g.d. 53.7 m.g.d. 47.2 m.g.d.
Daily Consumption 14.6 m.g.d. 14.4 m.g.d. 14.8 m.g.d. 14.6 m.g.d.
Peak Demand 25.1 m.g.d. 23.5 m.g.d. 26.28 m.g.d. 24.96 m.g.d.
Miles of Distribution Systems 587 587 587 587
Fire Hydrants 5,550 5,550 5,647 5,647
Source: City of South Bend Departments
Miscellaneous Statistics
Sewer Utility
Water Utility
Police Department
Fire Department
Department of Public Works
Sign Shop
295
City of South Bend, Indiana
Passenger Volume:Century Center 75,000 square feet of exhibit space
Airline South Shore Bus to O'Hare/ 2,270 max available seating
Year Enplanements Train Midway 694 seat theater
2016 328,897 243,920 34,145 Morris Performing Arts Center 2,500 available seating
2017 305,491 260,794 33,696 Hotels/Motels 25 Hotels/Motels
2018 368,877 246,641 27,044 3 Bed & Breakfasts
2019 417,929 236,274 25,803 Major hotels and meeting rooms:
2020 * 211,744 82,600 - DoubleTree by Hilton facilities to seat 600
2021 341,645 141,895 - Waterford Estates Lodge facilities to seat 500
The Morris Inn facilities to seat 400
Aloft facilities to seat 150
The City of South Bend has excellent health care access at costs below
the national average and the lowest in the Midwest region. The City has
Commercial airlines with operations at South Bend one major hospital:
International Airport (market share):2019 2020 2021 Beacon Health Systems (Memoria 525 beds
Allegiant Air 24% 33% 27%
Delta Connection 38% 24% 28%
United Express 18% 15% 19%
American 18% 26% 24% Access to:
Charters/Nonscheduled 2% 2% 2% 3 Major Television Networks: NBC (WNDU), ABC (WBND),
Total 100% 100% 100% and CBS/FOX (WSBT)
1 Public Broadcasting Television Station (WNIT)
2 Local Television Stations (WHME, WJSV)
1 Major Newspaper (The South Bend Tribune)
25 Radio Stations
Transpo:2019 2020 2021
Motor Bus (Fixed Route)
Route Miles 290 290 290 South Bend has been the home to the many distinguished individuals
Ridership 1,510,091 890,940 937,678 including the following persons:
Miles of Service 1,369,240 1,205,928 1,395,160 Schuyler Colfax, 17th U.S. Vice President
Revenue Miles 1,303,386 1,193,433 1,351,436 John Fogerty, singer
Demand Response (ACCESS)Michael Warren, actor
Ridership 86,081 48,354 51,383 Chad Everett, actor
Total Miles 452,198 312,886 331,911 Sidney Pollack, actor/director
Revenue Miles 387,912 260,873 284,641 Knute Rockne, football coach
John Wooden, basketball coach
Joe Kernan, former South Bend Mayor and Indiana Governor
Ryan Newman, racecar driver
43 Trucking Lines, 33 Terminals Skylar Diggins, woman's basketball player
4 Interstate Bus Lines
4 Major Rail Systems (freight and passenger)
- Incorporated in 1865
Enrollment - County Seat of St. Joseph County
Universities and Colleges 2018-2019 2019-2020 2020-2021 - South Bend officially began under the name South Hold, but the name
University of Notre Dame 12,607 12,683 12,809 was changed by the Post Office in 1830 to avoid confusion with other
Indiana University at South Bend 5,214 5,092 4,942 communities that used that name. The name South Bend was used
Bethel University 1,513 1,450 1,362 because the City is located at the southernmost point of the St. Joseph
Saint Mary's College 1,611 1,580 1,581 River.
Holy Cross College 499 447 455 - Average High Temperature:
January 31 degrees Fahrenheit
July 83 degrees Fahrenheit
Communications
Famous Residents
Other
Miscellaneous Statistics (Continued)
South Bend International Airport Convention Facilities
Health Care
On average, more than 1,600 airline passengers travel through South Bend
International every day.
* COVID 2020 - stay at home order 3/24/20 - 5/3/20 - Airlines Suspension
in flights - through 2020
South Bend Public Transportation Corporation
Other Transportation
296