HomeMy WebLinkAbout2014 Comprehensive Annual Financial ReportComprehensive Annual Financial Report
FISCAL YEAR ENDING ON DECEMBER 31, 2014
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CITY OF SOUTH BEND, INDIANA
PETE BUTTIGIEG, MAYOR
JOHN MURPHY, CITY CONTROLLER
REPORT PREPARED BY
CITY OF SOUTH BEND DEPARTMENT OF ADMINISTRATION AND FINANCE
City of South Bend, Indiana
Contents
Introductory Section
City Officials
Controller's Letter of Transmittal ii -xiii
Certificate of Achievement for Excellence in Financial Reporting xiv
Organization Chart xv
Financial Section
Report Letter 1 -3
Management's Discussion and Analysis 4 -29
Basic Financial Statements
Government -wide Financial Statements:
Statement of Net Position 30 -31
Statement of Activities 32 -33
Fund Financial Statements:
Governmental Funds:
Balance Sheet
34 -35
Reconciliation of the Balance Sheet to the
Statement of Net Position
36
Statement of Revenue, Expenditures, and Changes in Fund Balances
37 -38
Reconciliation of the Statement of Revenue, Expenditures,
and Changes in Fund Balances of Governmental Funds
to the Statement of Activities
39
Proprietary Funds:
Statement of Net Position 40 -41
Statement of Revenue, Expenses, and Changes in Net Position 42
Statement of Cash Flows 43 -44
Fiduciary Funds:
Statement of Fiduciary Net Position 45
Statement of Changes in Fiduciary Net Position 46
Notes to Financial Statements 47 -96
City of South Bend, Indiana
Contents (Continued)
Required Supplementary Information 97
1925 Police Officers' Pension Plan:
Schedule of Funding Progress
98
Schedule of Investment Returns
99
Schedule of Contributions
100
Schedule of Changes in the City Net Pension Liability and Related Ratios
101
1937 Firefighters' Pension Plan:
Schedule of Funding Progress
102
Schedule of Investment Returns
103
Schedule of Contributions
104
Schedule of Changes in the City Net Pension Liability and Related Ratios
105
OPEB System Schedule
106
Budgetary Comparison Schedules - General Fund & Major Special Revenue
Funds:
General Fund
107 -109
Park and Recreation Fund
110
Public Safety LOIT Fund
I I I
COIT Fund
1 12
EDIT Fund
113
Budget /GAAP Reconciliation 114
Notes to Required Supplementary Information 1 15 -1 16
City of South Bend, Indiana
Contents (Continued)
Other Supplementary Information
Nonmajor Governmental Funds: 117
Fund Descriptions 118-122
Combining Balance Sheet 123 -133
Combining Statement of Revenue, Expenditures, and Changes in Fund
Balances 134 -145
Schedules of Revenue, Expenditures, and Changes in Fund Balances - Budget
and Actual 146 -204
Nonmajor Enterprise Funds:
Fund Descriptions 205
Combining Statement of Net Position 206
Combining Statement of Revenue, Expenses, and Changes in Net Position 207
Combining Statement of Cash Flows 208 -209
Internal Service Funds:
Fund Descriptions 210
Combining Statement of Net Position 211
Combining Statement of Revenue, Expenses, and Changes in Net Position 212
Combining Statement of Cash Flows 213 -214
Fiduciary Funds:
Fund Descriptions 215
Statement of Assets and Liabilities 216
Combining Statement of Changes in Fiduciary Net Position 217
Statement of Changes in Assets and Liabilities 218
City of South Bend, Indiana
Contents (Continued)
Statistical Section
244
Financial Trend Information:
224
Net Position by Component
219
Changes in Net Position
220 -221
Fund Balances, Governmental Funds
222
Changes in Fund Balances, Governmental Funds
223
Revenue Capacity Information:
244
Property Tax Levies and Collections
224
Direct and Overlapping Property Tax Rates
225
Detail of Net Assessed Valuation
226
Assessed Value and Actual Value of Taxable Property
227
Net Assessed Value of Taxable Property
228
Assessed Value of Taxable Property
229
Property Tax Collections - Cash Basis
230
2014 Circut Breaker Property Tax Cap Credits
231
Principal Property Taxpayers
232
Local Option Income Tax Revenue (CEDIT)
233
Local Option Income Tax Revenue (COIT)
234
Local Option Income Tax Revenue (PS LOIT)
235
Total County Option Income Tax Distributions by Taxing Unit
236
Ten Largest Water Customers
237
Ten Largest Sewage Works Customers
238
Gasoline Tax Collections - Cash Basis
239
Wheel and Excise Surtax Collections - Cash Basis
240
Hotel /Motel Tax Revenue
241
Professional Sports Development Tax - Cash Basis
242
Cable Television Franchise Fee Collections - Cash Basis
243
Debt Capacity Information:
Computation of Legal Debt Margin
244
Legal Debt Margin Information
245
Ratios of Outstanding Debt by Type
246
Computation of Direct and Overlapping Debt
247
Ratio of Annual Debt Service Expenditures for General Obligation Bonded
Debt to Total General Government Expenditures
248
Ratio of Net General Bonded Debt to Assessed Value and Net Bonded Debt
Per Capita
249
St Joseph County Hotel /Motel Tax Board Statement of Estimated Cash Flow
and Debt Service Coverage
250
Schedule of Revenue Bond Coverage - Water Utility Bonds
251
Schedule of Revenue Bond Coverage - Wastewater Utility Bonds
252
Annual Wastewater Flow Data and Number of Customers
253
City of South Bend, Indiana
Contents (Continued)
Statement of City -Owned Utility Debt 254
Estimated Debt Service Coverage Calculation of Sewage Works 255
Estimated Debt Service Coverage Calculation of Water Utility 256
Projected COIT Revenues 257
Statement of Estimated Cash Flow and Debt Service Coverage 258
Estimated Tax Increment Revenue - Erskine Village Project 259
Demographic and Economic Information:
Demographic Statistics
260 -261
Employment by Type and Industry
262
Comparison of Growth Rates in Personal Income for St. Joseph County, the
State of Indiana, and U.S. Personal Income
263
Principal Employers
264
Operating Information:
Operating Indicators by Function /Program
265
Capital Asset and Infrastructure Statistics by Function /Program
266
New Construction - Number of Permits and Property Values
267
Full -Time Equivalent City Government Employees by Department
268 -269
Salary Rate Comparison
270
Insurance Coverage
271
Financial Institutions
272
Miscellaneous Statistics
273 -274
CITY OFFICIALS
Office Official Term
Mayor Pete Buttigieg 01 -01 -12 to 12 -31 -15
Controller John Murphy 01 -03 -14 to 12 -31 -15
City Clerk John Voorde 01 -01 -12 to 12 -31 -15
President of the Board of
Public Works Gary A. Gilot 01 -01 -12 to 12 -31 -14
Common Council Members
1St District
Tim Scott
01 -01 -12 to 12 -31 -15
2nd District
Henry Davis, Jr.
01 -01 -12 to 12 -31 -15
3rd District
Valerie Schey
01 -01 -12 to 12 -31 -15
4th District
Fred Ferlic
01 -01 -12 to 12 -31 -15
5th District
David Varner
01 -01 -12 to 12 -31 -15
6th District
Oliver Davis
01 -01 -12 to 12 -31 -15
At Large
Karen L. White
01 -01 -12 to 12 -31 -15
At Large
Derek D. Dieter
01 -01 -12 to 12 -31 -15
At Large
Gavin Ferlic
01 -01 -12 to 12 -31 -15
120ON COUNTY -CITY BUILDING
227 W. JEFFERSON BLVD.
SOUTH BEND, INDIANA 46601 -1830
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
PHONE 574/ 235 -7678
FAX 574/ 235 -9928
DEPARTMENT OF ADMINISTRATION AND FINANCE
June 30, 2015
The Honorable Pete Buttigieg, Mayor of the City of South Bend
Members of the City of South Bend Common Council
Residents of the City of South Bend:
The comprehensive annual financial report of the City of South Bend, Indiana (the "City ") for
the year ended December 31, 2014 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.
Generally accepted accounting principles (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 Comprehensive Annual 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 ended December 31, 2013. The financial section
begins with the independent auditor's report on the City's financial statements and schedules, the
City management's 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
U.S. Office of Management and Budget Circular A -133, Audits of States, Local Governments
and Non - Profit Organizations, 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.
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 2010 U.S. Bureau of the Census population was
101,168. Accordingly, South Bend is classified as a "City of the Second Class" under Indiana
statutes (cities with a population of 35,000 to 600,000). 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 provides a full range of traditional general governmental services to its citizens. 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, and is commonly known to be within the
" Michiana" area. The Michiana area 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.
St. Joseph County / South Bend - Economic Conditions and Outlook
St. Joseph County, with its 2010 U.S. Bureau of the Census population of 266,931, 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 28,317 (11.8% increase) between 1960 and 2010. 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 7.5% between 1990 and 2000. The population of St. Joseph
County is expected to have experienced a modest increase to an estimated 267,618 in 2014.
The estimated labor force in St. Joseph County is 135,350 workers (US Census Bureau 2009-
2013 American Community Survey 5 -Year Estimates). The workers are typical of the Midwest:
well- trained with a strong work ethic. Approximately 87.8% of the area's adult population (25
and older) are high school graduates or higher (as compared to the national average of 75 %) with
an estimated 26.5% with a Bachelor's Degree or higher. There are ten 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, Purdue University
College of Technology at South Bend, Holy Cross College, Trine University South Bend, Brown
Mackie College, ITT Technical Institute and Ivy Tech Community College. At the high school
level, there are school -to -work transition programs. For 2014, St. Joseph County experienced an
average unemployment rate of 6.7 %, near average when compared to its surrounding counties
Elkhart (5.2 %), LaPorte (7.7 %), and Marshall (5.6 %) in Indiana and Cass (6.6 %) and Berrien
(6.7 %) in Michigan. Indiana's unemployment rate averaged 5.5% in 2014.
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 (US Census Bureau 2009 -2013 American Community Survey 5 -Year Estimates Civilian
Employed Population):
iv
Economic Sector Number Employed
Educational Services, Healthcare, Social Assistance 33,989
Manufacturing
19,691
Retail Trade
13,739
Arts, Entertainment, Recreation, Accommodation,
Food Services
11,463
Professional, Scientific, Management, Administrative,
Waste Management Services
9,293
Finance and Insurance, Real Estate, Rentals, Leasing
6,692
Other Services, except Public Administration
5,611
Construction
5,468
Transportation and Warehousing, and Utilities
5,059
Wholesale Trade
3,585
Public Administration
3,457
Information
1,807
Agriculture, Forestry, Fishing, Hunting, Mining
532
Total
120,386
% of Total
28.2%
16.4%
11.4%
9.5%
7.7%
5.6%
4.7%
4.5%
4.2%
3.0%
2.9%
1.5%
0.4%
100.0%
St. Joseph County presently has an estimated 101,947 households with an average per capita
personal income of $23,509, which compares to the State of Indiana average per capita income
of $24,635 and the United States per capita income of $28,155. The per capita income in St.
Joseph County compares favorably with most of its surrounding counties—Elkhart ($21,109), La
Porte ($22,852), and Marshall ($21,933) in Indiana and Cass ($22,743) and Berrien ($24,013) in
Michigan.
Health and education lead the employment statistics for St. Joseph County. The largest
employers in St. Joseph County as of December 2014 were as follows: University of Notre Dame
(5,590), Beacon Health Systems (3,400), Trinity Health/St. Joseph Regional Medical Center
(3,000), South Bend Community School Corporation (2,880), AM General (2,738), Martin's
Supermarkets (1,555), Meijer, Inc. (1,450), St. Joseph County (1,300), Indiana University —
South Bend (1,266), 1St Source Corporation (1, 160), and The City of South Bend (1,098).
v
The following provides a profile of the residents of St. Joseph County (Census Estimates
for July 2013)•
Gender %, male /female: 48.5% male; 51.5% female
Age: 24.2% under 18
11.3% 18 -24 years of age
24.7% 25 -44 years of age
26.0% 45 -64 years of age
13.8% 65 years of age and older
Race: 73.6% White
13.1 % Black/African American
7.9% Hispanic /Latino
2.2% Asian
3.2% Other
Home Ownership: 69.5% own; 30.5% rent /other
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 2015, the median sales
price for a single family home in the South Bend Statistical Area was $85,100 as compared to a
median sales price of $192,500 in Chicago, $137,000 in Grand Rapids, $106,300 in Ft. Wayne
and $139,200 in Indianapolis. The Midwest median sales price is $156,600.
The City of South Bend continues to place high emphasis on a growing and diversified local
economy. It has been active in developing ten industrial parks, offering itself as a low -cost
alternative to the Chicago metropolitan area to companies engaged in light manufacturing,
distribution and services. More than 240 businesses operate in South Bend's industrial parks,
including companies engaged in metalworking, plastics, warehousing and distribution, and
professional services. In recent years, the City has developed Innovation and Ignition parks, the
first dual -site, state - certified technology parks in the state of Indiana.
The South Bend Community School Corporation serves the entire City and some of the
surrounding area and has a current enrollment of approximately 19,308 students in grades pre-
kindergarten through 12. An estimated 5,392 students attend private or parochial schools within
the City. The ten institutions of higher education and technical training located within the South
Bend area have a total enrollment of approximately 31,000. 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.
Vi
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. The name Studebaker became synonymous
with the area of South Bend and the company was 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, aerospace and household products. The Singer Sewing Company,
Birdsell Manufacturing and the Oliver Chilled Plow Works were other important companies
during the early history of South Bend.
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 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 and the Oliver family Mansion, Copshaholm,
Century Center, Potawatomi Zoo, the Morris Conservatory/Muessel- Ellison Tropical Gardens,
Healthworks! Kids Museum, the Farmers' Market, and the Belleville 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. Until recently, the stadium was home to the South
Bend Silver Hawks, a Single -A minor league team in the Midwest League affiliated with the
Arizona Diamondbacks. In January 2011, the Silver Hawks were sold to Chicago businessman
Andrew Berlin, who has forged a strong partnership with the City and plans to keep the team in
South Bend for many years to come. In September 2014, a four -year player contract was reached
with the Chicago Cubs and the team became the South Bend Cubs. Total attendance in 2014 of
259,000 was up approximately 9% over 2013, but upon the announcement of the new Cubs
franchise, 2015 sales have repeatedly broken records.
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 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.
Vii
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 determine the adequacy of the internal control structure,
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, 2014 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
budget classification within funds. The Mayor and Common Council may transfer appropriations
from one major budget classification to another within a department by ordinance as long as 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. Beginning in budget year 2009, the City must also submit its annual budget to the St.
Joseph County Common Council for a non - binding review and recommendation. 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
statute, 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 $28 million in the General Fund) but this
revenue loss has been offset by cost savings and the adoption of local option income taxes in
order to continue providing essential City services, including police and fire protection.
Viii
A historical view of the City's tax rate and its net assessed valuation has been included in the
statistical section of this document.
City Mission Statement and Department Purpose Statements
The City provides services to its customers through fourteen (14) administrative departments.
These departments have unique purposes that are intended to support the citywide mission
statement which is "to be recognized as a model city." Each department has developed a
purpose statement which identifies their specific role.
Mayor's Office: Leading the community to become a model city through formulating
policy, directing operations and responding to customer concerns.
Common Council: Making certain that our City government is always responsive to the needs
of our residents and that the betterment of South Bend is always our
highest priority.
City Clerk's Office: Preserving all City Ordinances and Council meeting minutes for
generations yet to be, and providing fair and consistent treatment of our
Ordinance Violations Bureau customers.
Administration
and Finance: Providing financial and organizational stability for the City through sound
financial and human resources management while ensuring the existence
of a safe work environment, quality employee benefits and equal treatment
for all City employees.
Legal Department: Providing superior, professional and ethical legal services for our client,
the City of South Bend.
Police Department: Protecting the life, property and personal liberties of all individuals;
improving the overall quality of life by deterring criminal activity and
respecting cultural diversity; delivering fair and impartial law enforcement
services to all residents.
Fire Department: Providing the highest level of fire protection and emergency medical
services possible to all of our customers, saving lives and property, and
striving to become a model Fire Department for other cities in an efficient
and cost - effective manner.
Code Enforcement: Maintaining and improving the physical quality of life in our
neighborhoods.
ix
Parks and
Recreation: Offering all residents and guests of South Bend the highest quality of
recreational and leisure activities, while providing well- managed parks
and recreational facilities with updated programming and friendly
productive service.
Community
Investment
(Econ Dev): Creating and expanding opportunities through partnerships in
neighborhood revitalization, commercial and industrial development and
community enhancement.
Public Works: Providing leadership in the development and delivery of engineering,
fleet, transportation, sanitation, wastewater, water and other services as
called upon by our customers.
Building
Department: Serving our customers by inspecting, informing and ensuring a safe place
to work, play and live.
Century Center: Providing a state -of -the -art convention facility with excellent services to
customers while generating maximum economic benefit to our
community.
Morris Performing
Arts Center &
Palais Royale: Providing the premiere venue for live entertainment and banquet facility.
Building South Bend in 2015 and Beyond
The City Administration's theme for the past several years has been "We're Building South
Bend." That theme has had a major influence on the development of the 2015 budget. There are
five areas of concentration that became or remained budget priorities for 2015:
• We're Building Neighborhoods - The City continues with its strong commitment to
neighborhoods. The City will make a significant investment to fund or leverage state and
federal funding for housing assistance, development and home ownership programs,
neighborhood public works and parks, neighborhood development for social services and
organizations, and public safety initiatives. Committing these resources will help us maintain,
improve and support strong neighborhood development.
• We're Building a Safe City - Public safety is the foundation of all the City's efforts to build
South Bend. Through the targeted and creative use of available resources, the City is
working to provide quality police, fire and ambulance services for the community. The crime
rate has decreased in several significant categories over the past year. The City's Fire
Department is rated one of the best in the state. A key initiative will focus on community
policing, group violence, and placing more emphasis on training and diverse recruitment for
the Police and Fire Departments.
• We're Building an Attractive City - We are working to enhance the natural and man -made
beauty of our city through effective City programs. The City has taken steps through its
Department of Code Enforcement and a Mayoral Task force to address the issue of vacant
and abandoned properties. The City is funding major programs to renovate the former
Studebaker Corridor area and other parts of the City. The City has been recognized as a
Bicycle Friendly Community by the League of American Bicyclists and has established over
60 miles of bicycle routes to date. The City has initiated a "smart streets" program to convert
four downtown streets from one -way to two -way traffic that will make the streets safer and
more user - friendly for pedestrians and non - motorists.
• We're Building Opportunity - A key issue for any city is education and opportunity for
young people. The City is committed to keeping schools open in our neighborhoods and to
maximizing their use by the community. We are building partnerships with the South Bend
School Corporation and other key stakeholders that will create new strategies for enhancing
our formal educational systems. Working together with families, student groups, school
officials, neighborhoods, the faith community and civic organizations, we can support our
local schools and improve the level of individual student performance.
• We're Building a Strong Economy - Local government plays a key role in economic
development. By providing adequate infrastructure and offering targeted assistance, the City
can stimulate private investment, creating business opportunities and jobs. The City's
policies 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 the areas
around the East Bank and the downtown areas. The City has had many significant economic
development projects resulting in $300 million in new private investment and the creation of
over 2,000 jobs in the last 24 months. A few of these projects include the renovation and
modernization of our Ethanol Plant, the construction of 1 million square feet of industrial
space (underway), the renovation of three large historic buildings in the downtown to market
rate apartments, the rebranding of our minor league baseball team and new affiliation with
Chicago Cubs resulting in record high attendance, the announcement of $700 million in
construction to occur at the Notre Dame Campus and the attraction of General Electric to our
Tech Park to partner with Notre Dame on the nation's most advanced jet propulsion testing
facility.
Mayoral Leadership
Mayor Pete Buttigieg, a Harvard University graduate and Rhodes scholar, assumed office on
January 1, 2012, bringing with him a group of leaders with new ideas and energy to implement
transformational reform to city government. Elected at age 29, Mayor Buttigieg is the youngest
chief executive of a municipality exceeding 100,000 residents in the United States. During his
first term, Mayor Buttigieg has launched seven initiatives to improve city government:
1. New Economic Partnerships - to lay out a new economic vision for our community as
well as to agree on a smarter division of labor among various groups involved in
economic development.
xi
2. High Ethical Standards - on his first day in office, the Mayor issued an executive order
introducing a new ethics code for City employees.
3. Customer Service Mentality - design ways that City employees can track and resolve
citizens' issues efficiently by using more advanced technology. This effort led to the
creation of a "311 Call Center" for non - emergency municipal telephone calls during
2012. The Call Center has taken more than 200,000 calls through June 2015 and
continues to add departments to be a central call center for most areas of City
government.
4. Strong Partnerships with Schools - the Mayor has improved dialogue with the South
Bend School Corporation and other stakeholders to ensure a strong educational system in
the City. The Mayor has begun programs to double the number of public school mentors
and curb youth and gun violence.
5. Transparency and Accessibility - choosing not to serve from behind his desk, Mayor
Buttigieg has conducted a series of monthly "Mayor's Night Out" and "Mayor's Night
In" events around town to allow citizens to speak to him and his department heads
directly about concerns and ideas. The City website has been re- designed and additional
financial and operational reports are being made available online.
6. Vacant and Abandoned Buildings - as with many large cities, the City of South Bend
has an issue with vacant and abandoned buildings. The City has taken on this issue with
the appointment of a blue- ribbon task force that developed new strategies and initiated an
aggressive three -year program -1,000 buildings in 1,000 days —to reduce the number of
vacant and abandoned buildings. As of June 2015, 955 of the 1,000 buildings have been
addressed. The remaining 45 buildings should be addressed as planned by November
2015.
7. Smart Streets - an effort to improve the role of streets within South Bend. Projects
within this initiative utilize the "Complete Streets" philosophy which advocates for the
design of streets to enable safe access for all users, including pedestrians, bicyclists,
motorists and transit riders of all ages and abilities. During 2015, the City issued a bond
for $25 million to move the project of two -way street conversions and other Smart Street
initiatives forward.
8. South Bend Group Violence Intervention ( SBGVI) - unites community leaders around
a common goal: to stop gun violence and keep South Bend's highest -risk citizens alive
and out of prison. SBGVI is a partnership among 30 community leaders from law
enforcement, government, education, civil service, health -care and faith -based agencies.
Administration Vision
The administration of Mayor Buttigieg has a single, overarching vision —a safe, inclusive and
well- connected South Bend. In support of this vision, the Mayor has established three main
pillars of administration policy:
xii
1. Basics are easy — it is essential to provide City residents basic services so seamlessly that
they take them for granted and are able to focus on their own families and daily challenges.
2. Good government — make government more accessible and accountable to those it serves
by adopting a people- focused approach, trading partisanship for partnership and using
technology to better serve all residents.
3. Economic Development — focus on economic growth and make much - needed investments
in the future.
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 Comprehensive Annual Financial Report for the fiscal year ended December 31,
2013. This was the 24th 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 Comprehensive
Annual 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 Comprehensive Annual Financial Report (CAFR) was made possible by
the dedicated service of the City's departmental fiscal officers and the staff of the Department of
Administration and Finance. Each fiscal officer and member of the Administration and Finance
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 CAFR preparation team
of Rahman Johnson, Cecil Eastman and Plante & Moran, PLLC. In addition, we would like to
thank the Field Examiners of the Indiana State Board of Accounts (led by Martha Harper, Alex
Flores and Bruce Snyder) for their hard work and dedication in this effort.
In closing, without the leadership and support of Mayor Pete Buttigieg, City Department Heads,
City Fiscal Officers and members of the City of South Bend Common Council, preparation of
this report would not have been possible.
Sincerely,
John H. Murphy, MPA
City Controller
xiii
�W & qdd eodaff
Jennifer Hockenhull, CPA
Deputy City Controller
Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of South Bend
Indiana
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
December 31, 2013
Executive Director /CEO
xiv
... ...............................
Board of Public
Safety (1)
Police Department
(Chief)
- Technical Services Division
- Investigative Division
- Uniform Patrol
- Community Relations Division
City of South Bend, Indiana
Organizational Chart
Citizens of South Bend
City Council Mayor City Clerk
Board of Parks &
Recreation (1)
................ I................:
Fire Department Parks & Recreation
(Chief) (Superintendent)
-Fire Prevention - Park Administration Division
Administrative Services Division - Park Maintenance Division
Firefighting Operations Division - Recreation Division
EMS Division Potawatomi Zoo Division
- Golf Division
Legal Department Code Enforcement
(City Attorney) (Director)
Hearing Officer
Neighborhood Code Enforcement
Abandoned Vehicles
Unsafe Building
Animal Control
Bureau of Weights and Measures
Board of Public
Works (1)
Public Works
(Director)
Engineering Division
Streets Division
Water Works Division
Sewage Division
Central Services Division
Solid Waste Division
Energy Office
Century Center
Board of Managers:
(2)
Century Center
(Director)
Morris
Entertainment
Board (3)
Morris Performing
Arts Center
(Director)
Consolidated
Building
Department
(1) Board Members include Mayoral Appointments
(2) Board Members include Mayoral and Council Appointments
(3) Board Members include Citizen Appointments
(4) Board Members include Mayoral and Council Appointments for Redevelopment Commission, Mayoral Appointment for Redevelopment Authority
Effective as of January 1, 2014
xv
Redevelopment
Authority/
Commission (4)
Economic
Development
- Economic Development
- Community Development
- General Administration
Administration &
Finance (City
Controller)
City Finance & Budgeting
Human Resources
Benefits Management
Information Technology
Safety & Risk Management
Human Rights
Purchasing /Diversity
Innovation
STATE OF INDIANA
AN EQUAL OPPORTUNITY EMPLOYER STATE BOARD OF ACCOUNTS
302 WEST WASHINGTON STREET
ROOM E418
INDIANAPOLIS, INDIANA 46204 -2769
INDEPENDENT AUDITOR'S REPORT
Telephone: (317) 232 -2513
Fax: (317) 232 -4711
Web Site: www.in.gov /sboa
TO: THE OFFICIALS OF THE CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities, the business -
type activities, each major fund, and the aggregate remaining fund information of the City of South Bend
(City), as of and for the year ended December 31, 2014, and the related notes to the financial statements,
which collectively comprise the City's basic financial statements as listed in the Table of Contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes 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.
Auditor's Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We con-
ducted our audit in accordance with auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures
in the financial statements. The procedures selected depend on the auditor's judgment, including the assess-
ment of the risks of material misstatement of the financial statements, whether due to fraud or error. In mak-
ing those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the circum-
stances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control.
Accordingly, we express no such opinion. An audit includes evaluating the appropriateness of accounting
policies used and the reasonableness of significant accounting estimates made by management, as well as
evaluating the overall presentation of the financial statements.
We believe that our audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinions.
INDEPENDENT AUDITOR'S REPORT
(Continued)
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of the governmental activities, the business -type activities, each major fund, and
the aggregate remaining fund information of the City, as of December 31, 2014, and the respective changes
in financial position and, where applicable, cash flows thereof and for the year then ended, in accordance with
accounting principles generally accepted in the United States of America.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Manage-
ment's Discussion and Analysis, Schedules of Funding Progress, Schedules of Changes in Net Pension
Liability and Related Ratios, Schedules of Contributions, Schedules of Investment Returns, Budgetary
Comparison Schedules - General Fund and Major Special Revenue Funds, and Budget/GAAP /Reconciliation,
as listed in the Table of Contents, be presented to supplement the basic financial statements. Such informa-
tion, 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.
Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collec-
tively comprise the City basic financial statements. The accompanying combining and individual fund finan-
cial statements, other budgetary comparison schedules and the Introductory and Statistical Sections are pre-
sented for purposes of additional analysis and are not a required part of the basic financial statements.
The combining and individual fund financial statements and other budgetary comparison schedules
are the responsibility of management and were derived from and relate directly to the underlying accounting
and other records used to prepare the basic financial statements. Such 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 financial statements, and other budgetary com-
parison schedules are fairly stated, in all material respects, in relation to the basic financial statements as a
whole.
The Introductory and Statistical Sections have not been subjected to the auditing procedures applied
in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any
assurance on them.
2
INDEPENDENT AUDITOR'S REPORT
(Continued)
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 30,
2015, on our consideration of the City's internal control over financial reporting and on our tests of its compli-
ance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The
purpose of that report is to describe the scope of our testing of internal control over financial reporting and
compliance and the results of that testing, and not to provide an opinion on internal control over financial
reporting or on compliance. That report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering City's internal control overfinancial reporting and compliance.
June 30, 2015
3
Pa.. & Z.
Paul D. Joyce, CPA
State Examiner
City of South Bend, Indiana
Management's Discussion and Analysis
The management of the City of South Bend, Indiana (the "City ") provides herewith 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, 2014.
Readers of 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 Comprehensive Annual Financial Report (CAFR).
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 2010 U.S. Bureau of the Census population for the City of South Bend was reported as
101,168 and the 2010 Census population for St. Joseph County was reported as 266,931.
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.
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 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.
The City of South Bend provides a full range of general governmental services to citizens.
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 and Wastewater Utility 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, South Bend Redevelopment Authority 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 statute.
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
0
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
All elected official current terms of office expire on December 31, 2015.
The City of South Bend was incorporated in 1865, compliant to Indiana statute, and remains as
such through the period covered by this Management's Discussion and Analysis report. In 2015,
the City will celebrate its 150th birthday and a year -long series of community activities have been
planned for "SB 150 ".
Financial Highlights
Change vs. prior year
Expenses
Revenues
3,890,735 3,771 ,016 6,387,416 1,268,807 10,278,1 5 1 5,039,823
139,909,059 152,746,550 55,879,605 54,949,283 195,788,664 207,695,833
144,482,843 152,263,646 61 ,583,972 60,743,277 206,066,815 21 3,006,923
• Government -wide net position was $470,512,374 as of December 31, 2014
• Government -wide net position increased by $10,278,151 or 2.2% during fiscal 2014.
Governmental activity net position increased by $3,890,735 or 1.3% and business -type
activity net position increased by $6,387,416 or 3.7% during fiscal 2014. On an overall
basis, the City is better off financially at December 31, 2014 than it was at December 31,
2013.
• Total assets and deferred outflows of resources as of December 31, 2014 of
$801,065,517 decreased by $6,116,536 or -0.8% as compared to total assets and
deferred outflows of resources as of December 31, 2013.
• Total liabilities and deferred inflows of resources as of December 31, 2014 of
$330,553,143 decreased by $19,354,891 or -5.5% as compared to total liabilities and
deferred inflows of resources as of December 31, 2013.
• As of December 31, 2014, the government -wide net position of $470,512,374 has
$304,961,332 invested in capital assets (net of debt) which is not available for spending,
$35,310,890 classified as restricted for debt service; capital outlay; and other; and
$130,240,152 classified as unrestricted and may be used to meet ongoing obligations to
creditors.
V
Governmental
Business -type
Government -wide
Activities
Activities
Activities
2014
2013 (Restated)
2014
2013
2014
2013 (Restated)
Assets /deferred outflows
$ 498,965,722
$ 502,405,650 $
302,099,795 $
304,776,403 $
801 ,065,5 17
$ 807,182,053
Liabilities /deferred inflows
205,520,938
215,811,805
125,032,205
134,096,229
330,553,143
349,908,034
Net Position
Net investment in capital assets
168,275,521
192,190,446
136,685,8 1 1
1 14,506,252
304,96 1,332
306,696,698
Restricted
8,723,878
7,990,172
26,587,012
48,267,664
35,310,890
56,257,836
Unrestricted
116,445,385
89,373,431
13,794,767
7,906,258
130,240,152
97,279,689
Total net position
293,444,784
289,554,049
177,067,590
170,680,174
470,512,374
460,234,223
Change vs. prior year
Expenses
Revenues
3,890,735 3,771 ,016 6,387,416 1,268,807 10,278,1 5 1 5,039,823
139,909,059 152,746,550 55,879,605 54,949,283 195,788,664 207,695,833
144,482,843 152,263,646 61 ,583,972 60,743,277 206,066,815 21 3,006,923
• Government -wide net position was $470,512,374 as of December 31, 2014
• Government -wide net position increased by $10,278,151 or 2.2% during fiscal 2014.
Governmental activity net position increased by $3,890,735 or 1.3% and business -type
activity net position increased by $6,387,416 or 3.7% during fiscal 2014. On an overall
basis, the City is better off financially at December 31, 2014 than it was at December 31,
2013.
• Total assets and deferred outflows of resources as of December 31, 2014 of
$801,065,517 decreased by $6,116,536 or -0.8% as compared to total assets and
deferred outflows of resources as of December 31, 2013.
• Total liabilities and deferred inflows of resources as of December 31, 2014 of
$330,553,143 decreased by $19,354,891 or -5.5% as compared to total liabilities and
deferred inflows of resources as of December 31, 2013.
• As of December 31, 2014, the government -wide net position of $470,512,374 has
$304,961,332 invested in capital assets (net of debt) which is not available for spending,
$35,310,890 classified as restricted for debt service; capital outlay; and other; and
$130,240,152 classified as unrestricted and may be used to meet ongoing obligations to
creditors.
V
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
• Government -wide revenue received in fiscal 2014 totaled $206,066,815, a decrease of
$6,940,108 or -3.3% versus government -wide revenues received in fiscal 2013.
Governmental activity revenue decreased by $7,780,803 or -5.1 %, whereas business -
type activity revenue increased by $840,695 or 1.4 %.
• Government -wide expenses in 2014 totaled $195,788,664, a decrease of $1 1,907,169 or
-5.7% compared to expenses of $207,695,833 in 2013. Government activity expenses
decreased by $12,837,491 or -8.4% and business -type activity expenses increased by
$930,322 or 1.7% compared to fiscal 2013.
• Explanatory commentary concerning the changes in assets, liabilities, revenue 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, 2014. The difference
between total assets and deferred outflows of resources less total liabilities and deferred
inflows of resources is reported as "net 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.
Ci
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
• 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, 2014. 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 county option 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, and Blackthorn golf course
operations.
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 be useful in evaluating a government's short -term
financing requirements. Governmental funds use the modified accrual accounting method. The
City maintains six (6) major governmental funds (General, Parks and Recreation, Public Safety
Local Option Income Tax (LOIT), County Option Income Tax, Economic Development Income
Tax, and Airport TIF) and sixty -three (63) non major governmental funds.
VA
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
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 seven (7)
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, Wastewater utility and Century Center, which are considered
major enterprise funds. Data from the other four (4) nonmajor enterprise funds
(Consolidated Building Department, Parking Garage, Solid Waste and Blackthorn Golf
Course) 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 five (5) 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 and central services unit (a department that
accounts for expenses related to fuel, vehicle repairs, printing 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 six (6) fiduciary funds, which consist of two (2) pension trust funds (1925 Police
Pension and 1937 Firefighters' Pension), three (3) agency funds (Payroll, Police Distributions
Payable and Morris /Palais Royale Box Office), and one (1) private - purpose trust fund (City
Cemetery).
E:3
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Pension Trust Fund Operations
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. However, certain police officers and firefighters hired before May I, 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.
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.
Other Information
In addition to the basic financial statements and accompanying notes and disclosures, this CAFR
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 non -
major governmental, enterprise, internal service and fiduciary funds are presented immediately
after the Required Supplementary Information within the financial statement section of the
CAF R.
V]
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
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 Business -type Government -wide
Activities Activities Activities
2014 2013 (Restated) 2014 2013 2014 2013 (Restated)
Assets
Current and other $ 214,391,686 $ 218,030,938 $ 64,664,042 $ 71,410,179 $ 279,055,728 $ 289,441,1 17
Capital assets (net) 284,574,036 284,374,712 236,196,523 231,494,566 520,770,559 515,869,278
Total Assets
498,965,722
502,405,650
300,860,565
302,904,745
799,826,287
805,3 10,395
Deferred Outflows
-
-
1,239,230
1 ,871 ,658
1,239,230
1 ,871 ,658
Liabilities
Current
30,496,632
30,589,281
14,3 15,1 78
15,240,917
44,81 1,810
45,830,198
Long term
174,715,186
184,657,140
1 10,277,807
1 18,3 1 7,952
284,992,993
302,975,092
Total Liabilities
205,21 1,818
215,246,421
124,592,985
133,558,869
329,804,803
348,805,290
Deferred Inflows
309,120
565,384
439,220
537,360
748,340
1, 102,744
Net Position
Net investment in capital assets
168,275,521
192,190,446
136,685,8 1 1
1 14,506,252
304,96 1 ,332
306,696,698
Restricted
8,723,878
7,990,172
26,587,012
48,267,664
35,310,890
56,257,836
Unrestricted
116,445,385
89,373,431
13,794,767
7,906,258
130,240,152
97,279,689
Total Net Position
$ 293,444,784 $
289,554,049
$ 177,067,590 $
170,680,174 $
470,512,374
$ 460,234,223
• As of December 31, 2014, total assets and deferred outflows exceeded liabilities and
deferred inflows by $470,512,374, an increase of $10,278,151, or 2.2 %, from the net
position level as of December 31, 2013.
• Governmental activities net position of $293,444,784 increased by $3,890,735 from
December 31, 2013, an increase of 1.3 %.
• Business -type net position of $177,067,590 increased by $6,387,416 over December 31,
2013, an increase of 3.7 %. The increase in business -type net position was due primarily to a
5% increase in sewer rates which will be used to support long -term capital projects of the
Wastewater utility.
• Government -wide assets and deferred outflows decreased $6,116,536 or -0.8% as
compared to amounts as of December 31, 2013 mainly due to spending on capital projects
and principal payments on debt.
• Government -wide liabilities and deferred inflows decreased by $19,354,891 or -5.5% as
compared to amounts as of December 31, 2013. The decrease is due mainly to the City's
decision to not seek new debt financing for the Wastewater utility in 2014, unlike in previous
years which the utility issued bonds of $20 million or more, and principal payments on
existing debt. The City is currently re- evaluating compliance with its long -term control plan
and new Wastewater utility bonds are not anticipated during 2015 or 2016.
1 11]
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Statement of Changes in Net Position
Expenses
Governmental
Business -type
Government -wide
Activities
Activities
19,01 3,453
Activities
2014
2013
2014
2013
2014
2013
Revenue
68,783,155
76,023,819
Highways and streets
13,031,500
20,915,815
Program revenue:
13,031,500
20,915,815
Culture and recreation
16,802,31 1
26,846,471
Charge for services
$ 1 1,473,867
$ 13,158,358 $
59,858,306 $
59,906,998
$ 71,332,173
$ 73,065,356
Operating grants
3,203,805
21 ,466,622
-
-
3,203,805
21 ,466,622
Capital grants
-
1,867,213
95,834
697,917
95,834
2,565,1 30
General revenue:
15,221,865
13,020,610
15,221 ,865
Wastewater utility
Taxes
26,390,790
25,521,753
26,390,790
Civic center
Property tax
69,221 ,468
72,018,650
-
-
69,221 ,468
72,018,650
Other tax
23,822,661
22,81 1,296
1, 1 3 1 ,81 5
Parking
23,822,661
22,81 1,296
Unrestricted grants
29,061,942
5,893,924
1,285,056
Solid waste
29,061,942
5,893,924
Investment earnings
951,901
762,269
128,168
138,362
1,080,069
900,631
Other revenue
6,747,199
14,285,314
1,501,664
-
8,248,863
14,285,314
Total Revenue
144,482,843
152,263,646
61,5839972
609743,277
206,066,815
213,0069923
Expenses
General government
19,01 3,453
12,929,631
19,01 3,453
12,929,631
Public safety
68,783,155
76,023,819
68,783,155
76,023,819
Highways and streets
13,031,500
20,915,815
13,031,500
20,915,815
Culture and recreation
16,802,31 1
26,846,471
16,802,31 1
26,846,471
Economic development
19,780,791
10,069,690
19,780,791
10,069,690
Interest on long -term debt
2,497,849
5,961,124
2,497,849
5,961,124
Water utility
-
-
13,020,610
15,221,865
13,020,610
15,221 ,865
Wastewater utility
25,521,753
26,390,790
25,521,753
26,390,790
Civic center
4,747,838
4,330,656
4,747,838
4,330,656
Building department
3,242,320
1, 1 3 1 ,815
3,242,320
1, 1 3 1 ,81 5
Parking
1,660,596
1,285,056
1,660,596
1,285,056
Solid waste
5,81 1,526
5,091,588
5,81 1,526
5,091 ,588
Golf course
1,874,962
1,497,513
1 ,874,962
1,497,513
Total Expenses
139,909,059
152,746,550
55,879,605
54,949,283
195,788,664
207,695,833
Change in net position
Before transfers
4,573,784
(482,904)
5,704,367
5,793,994
10,278,151
5,31 1,090
Transfers
(683,049)
4,525,187
683,049
(4,525,187)
-
-
Change in net position
3,890,735
4,042,283
6,387,416
19268,807
10,278,151
5,31 1,090
Beginning net position
289,554,049
285,511,766
170,680,174
169,411,367
460,234,223
454,923,133
(restated)
Ending net position
$ 293,444,784
$ 289,554,049
$ 177,067,590
$ 170,680,174
$ 470,512,374
$ 460,234,223
Governmental Activities
Net position for governmental activities increased by $3,890,735 during fiscal 2014, an increase
of 1.3 %. Revenue of $144,482,843 decreased by $7,780,803, or -5.1%. Expenses were
$139,909,059 during 2014, a decrease of $12,837,491, or -8.4% as compared to fiscal 2013.
The revenue decreases were due primarily to one -time payments for legal settlements, most
notably from the Studebaker - Oliver Brownfield ($3.8 million) and Bosch ($2.0 million) in 2013
that were not received in 2014. Economic Development expenses decreased significantly due to
the delays in certain capital projects due to developer timetables and needs. The timing of
economic development project work is difficult to predict.
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Interest on long -term debt of $2,497,849 decreased by $3,463,275 from 2013, as the City
continued to take advantage of favorable financing rates by either retiring older, higher -rate
instruments or refinancing instruments at better terms, along with the normal decrease in
interest amounts due as the debt is repaid.
Transfers between funds were lower during 2014 due to an accounting change in the Public
Safety LOIT fund. During 2014, expenditures for personnel costs of police officers and
firefighters were made directly from this fund while in the past, the local income tax revenue
was transferred to the General Fund and then appropriated from the General Fund.
Business -type Activities
Net position from business -type activities increased by $6,387,416 during fiscal 2014, an
increase of 3.7 %. During 2014, revenue of $61,583,972 increased by $840,695 or 1.4% over
fiscal 2013. During 2014, expenses of $55,879,605 increased by $930,322 or 1.7% when
compared to fiscal 2013.
Revenue increased primarily in the Wastewater utility as a result of a 5% rate increase that was
approved by the South Bend Common Council. Expenses in the Consolidated Building Fund
increased by $2,110,505 for 2014, due primarily to the addition of the Code Enforcement and
Animal Care & Control Departments in this fund. In prior years, the costs of Code Enforcement
and Animal Care & Control were paid from the General Fund.
Financial Analysis of Government 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.
lha
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Condensed Balance Sheet,
Statement of Revenue, Ex enditures, and Changes in Fund Balance
As of December 31, 2014
General Park & Rec PS LOIT COIT EDIT TIF Airport Other Total
Total assets $ 30,058,742 $ 3,560,875 $ 1,293,292 $ 17,157,297 $ 10,440,703 $ 42,237,970 $ 105,069,783 $ 209,818,662
Total liabilities 2,471,337 277,728 284,728 640,415 112,987 872,760 10,672,035 15,331,990
Fund Balances:
61,827,950
10,055,729
Nonspendable
558,304 52,385 - 174,999 270,001 8,835,659 15,474,263
25,365,611
Restricted
- 3,230,762 1,008,564 - - 32,529,551 57,434,567
94,203,444
Committed
- - - - - - 16,413,498
16,413,498
Assigned
- - - 16,341,883 10,057,715 - 10,776,249
37,175,847
Unassigned
27,029,101 - - - - - (5,700,829)
21,328,272
Total fund balance
27,587,405 3,283,147 1,008,564 16,516,882 10,327,716 41,365,210 94,397,748
194,486,672
Liability & fund balance 30,058,742 3,560,875 1,293,292 17,157,297 10,440,703 42,237,970 105,069,783 209,818,662
Revenues
61,827,950
10,055,729
6,385,841
9,219,379
9,217,418
13,925,807
33,857,667
144,489,791
Expenditures
66,495,442
11,505,018
7,172,496
7,584,986
6,220,639
7,109,532
48,211,984
154,300,097
Net surplus (deficit)
(4,667,492)
(1,449,289)
(786,655)
1,634,393
2,996,779
6,816,275
(14,354,317)
(9,810,306)
Other sources (uses)
4,585,984
647,018
(1,916,279)
(3,833,985)
(1,466,084)
9,095,009
7,111,663
Net change in fund
(81,508)
(802,271)
(786,655)
(281,886)
(837,206)
5,350,191
(5,259,308)
(2,698,643)
balances
Beginning fund balances 27,668,913 4,085,418 1,795,219 16,798,768 1 1,164,922 36,015,019 99,657,056 197, 185,315
Ending fund balances $ 27,587,405 $ 3,283,147 $ 1,008,564 $ 16,516,882 $ 10,327,716 $ 41,365,210 $ 94,397,748 $194,486,672
As of December 31, 2014, the City governmental funds reported a combined ending fund
balance of $194,486,672.
The nonspendable fund balance of $25,365,611 is sequestered for property held for resale,
inventory, and long -term receivables and is, therefore, not available for new spending. The
restricted fund balance of $94,203,444 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 $16,413,498 is designated by the South Bend Common
Council or South Bend Redevelopment Commission to be used for certain purposes such as for
environmental projects. The assigned fund balance of $37,175,847 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 $21,328,272 consists of money
primarily 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 January 1, 2014, Code Enforcement and its subsidiary, Animal Care & Control,
were moved to the Consolidated Building fund.
As of December 31, 2014, the General Fund balance of $27,587,405 represents a decrease of
$81,508 or -0.3% from the balance as of December 31, 2013. The decrease was due primarily
to the adjustment of a long -term advance from the General Fund to the Hall of Fame Capital
Fund.
As of December 31, 2014, the General Fund had an unassigned fund balance of $27,029,101
which is equal to 43.7% of 2014 General Fund revenue.
13
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
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 will use the unassigned fund
balance in 2015 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 will provide sufficient cash to cover City operating
obligations without incurring tax anticipation notes and resultant borrowing costs during fiscal
2015.
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 lower if circumstances dictate, such
as a delay in collection of a major revenue source.
The Parks and Recreation Fund balance decreased $802,271 during fiscal 2014, due primarily
to a combination of flat property tax revenue and increased service and capital costs. As of
December 31, 2014, the fund balance in the Parks and Recreation Fund was $3,283,147, or
32.6% of 2014 revenue.
The Public Safety Local Option Income Tax Fund (Public Safety LOIT) 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 Public Safety LOIT 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. Public Safety LOIT funds are
used to cover the personnel costs of police officers and firefighters. Receipts of Public Safety
LOIT tax revenue commenced in January 2010. The revenue collected in fiscal 2014 of
$6,385,841 increased by $490,401 or 8.3% compared to 2013. The decrease in fund balance in
the amount of $786,655 during 2014 is the result of increased costs for police and fire personnel
and was a planned spend -down of monies accumulated in the fund for this purpose.
The County Option Income Tax Fund (COIT) and Economic Development Income Tax
Fund (EDIT) 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 telephone
and information technology costs, and certain debt service payments.
The COIT fund balance decreased by $281,886 during 2014, due to higher expenditures for the
curb and sidewalk program and information technology. The City has operationally sequestered
COIT 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,
information technology costs, city -wide expenditures like telephone and electricity for street
lights, and certain debt service payments.
14
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
As of December 31, 2014, the COIT Fund balance of $16,516,882 included assigned fund
balance of $16,341,883 and nonspendable fund balance of $174,999, primarily for property held
for resale.
The EDIT fund balance decreased by $837,206 during 2014 due to expenses related to initiatives
of the highest priority such as the commitment of demolition of vacant and abandoned buildings
and operating transfers to the Code Enforcement and Animal Care & Control Departments. The
City has operationally sequestered EDIT funds for use in major economic development
initiatives, certain subsidies and support to organizations and units that benefit city economic
development and cultural venues, operational costs of the street department, and certain debt
service payments.
As of December 31, 2014, the EDIT fund balance of $10,327,716 included assigned fund balance
of $10,057,715 and nonspendable fund balance of $270,001, consisting of property held for
resale.
The fund balance in the TIF Airport Fund increased by $5,350,191 during 2014. Revenue
increased by $2,983,162 due to increased property tax collections and economic development
within the tax increment financing district. Actual expenditures increased by $622,670 due to
continuation of projects into 2014.
As of December 31, 2014, the TIF Airport Fund balance of $41,365,210 included $8,835,659 in
property held for resale, and $32,529,551 in restricted fund balance reserves. The TIF Airport
Fund continues to be a major success for the City of South Bend and has generated in excess of
$645 million in private investment since its inception.
During 2014, the fund balances in Nonmajor Governmental funds decreased by $5,259,308
due primarily to expenditures of $4,172,162 in the Major Moves Fund for the smart- streets
(two -way streets) program and $2,325,109 in the Loss Recovery Fund for the vacant and
abandoned building initiative and other environmental projects. These were planned uses of
accumulated cash reserves.
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 its boundaries.
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 CAFR.
W
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Governmental Fund Revenue
The following schedule presents a summary of governmental fund revenue for the year ended
December 31, 2014 with comparison to the prior year:
2014 % of 2013 % of
Actual Total Actual Total
Tax Based
General property
$ 69,221 ,468
47.9% $
72,018,651
47.6%
County option income
15,025,840
10.4%
13,739,325
9.1%
County economic development
8,796,821
6.1%
8,177,352
5.4%
Professional sports development
588,054
0.4%
649,996
0.4%
Community revitalization district
-
0.0%
244,623
0.2%
Total Tax
93,632,183
64.8%
94,829,947
62.7%
Non -Tax Based
Licenses and permits
141,565
0.1%
177,019
0.1%
Intergovernmental
30,663,505
21.1%
29,227,759
19.4%
Charge for services
10,628,976
7.4%
12,320,498
8.2%
Fines and forfeitures
563,999
0.4%
660,841
0.4%
Interest income
955,376
0.7%
762,270
0.5%
Donations
-
0.0%
367,825
0.2%
Other
7,904,187
5.5%
12,806,3 15
8.5%
Total Non -Tax Based
50,857,608
35.2%
56,322,527
37.3%
Total Revenue $ 144,489,791 100.0% $ 151,152,474 100.0%
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 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 so- called "circuit breaker" property
tax caps in 2009, 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 Tax Incremental Financing (TIF) Funds, Excess Levy
Fund, and a special levy to cover debt service at the former College Football Hall of Fame
building.
I[:
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
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 and
Saint Joseph County Council adopted an additional local option income tax of 0.95% during
2009, increasing the tax rate from 0.8% to 1.75 %. The local option income tax increase
consisted of three components: 0.2% increase in the economic development income tax, a
0.25% public safety local option income tax and a 0.5% property tax relief local option income
tax.
The City continues to seek diversified sources of revenue that will reduce its reliance on
property and income taxes. The City has supported efforts of the Indiana Association of Cities
and Towns (TACT) "Hometown Matters" to lobby the state legislature to enable alternative
revenue sources that best fit the needs of the community. 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.
Governmental Fund Expenditures
The City accounts for government fund expenditures in seven functional categories as follows:
(1) general government, (2) public safety, (3) highways and streets, (4) economic development,
(5) culture and recreation, (6) debt service, and (7) capital outlay.
The following schedule presents a summary of governmental fund expenditures for the year
ended December 31, 2014 with comparison to the prior year.
General government
Public safety
Highways and streets
Community and economic development
Culture and recreation
Debt service
Capital outlay
2014
Actual
% of
Total
2013
Actual
% of
Total
$ 8,022,688
5.2% $
7,154,965
4.7%
66,927,250
43.4%
64,041,549
41.9%
10,441,957
6.8%
9,769,942
6.4%
7,309,130
4.7%
8,068,458
5.3%
13,948,089
9.0%
13,956,025
9.1%
18,243,049
1 1.8%
19,121,148
12.5%
29,407,934
19.1%
30,748,663
20.1%
Total Expenditures $ 154,300,097 100.0% $ 152,860,750 100.0%
Government fund expenditures in fiscal 2014 of $154,300,097 increased by $1,439,347 or 0.9%
in comparison to government fund expenditures in fiscal 2013.
Capital outlay expenditures decreased by $1 ,340,729 during 2014 due primarily to a change in
categorization of economic development projects from tax increment financing (TIF) funds. In
addition, there was less spending on general government capital projects from the EDIT fund.
IWA
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Public Safety expenditures increased $2,885,701 or 4.5% due to higher personnel and health
insurance costs. In addition, there was less grant funding available for police and fire programs.
Highways and Street expenditures increased by $672,015 as the curb and sidewalk program was
expanded and additional work on street maintenance was performed.
Economic development spending decreased $759,328 as certain projects planned for 2014 were
delayed until 2015 due to developer timetables and needs.
Public Safety expenditure continues to be the primary use of government fund resources with
43.4% of expenditures used for this purpose in fiscal 2014. Public safety spending is followed by
capital outlay expenditures (19.1 %), debt service (11.8%), culture and recreation (9.0 %),
highways and streets (6.8 %), general government (5.2 %), and economic development operating
(4.7 %). General government spending is comprised of the executive offices of the Mayor,
Common Council, City Clerk, City Attorney, Controller, Engineering and other administrative
offices.
14
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Proprietary funds
Condensed Statement of Net Position
Revenue, Expenses, and Changes in Fund Net Position
As of December 31, 2014
Total assets
Total deferred outflows
Total liabilities
Total deferred inflows
Net position:
Net investment in capital assets
Restricted for:
Depreciation fund
Debt service fund
Customer deposit fund
Cash with fiscal agent
Bond reserve fund
Operating reserve fund
Capital outlay
Unrestricted
Water Utility
Wastewater
Century Center
Other
Total Enterprise
Internal Service
8,607,888
Utility
14,373,176
34,009,1 17
2,227,1 71
9,248,842
$ 75,319,862
$ 193,908,225
$ 17,935,423 $
15,176,977
$ 302,340,487
$ 14,421,734
1 17,927
558,649
-
562,654
1,239,230
-
22,262,182
99,094,340
353,942
4,362,443
126,072,907
5,81 3,846
-
-
431,250
7,970
439,220
-
41 ,681 ,472
69,426,163
15,400,219
10,1 77,957
136,685,81 1
1 ,281 ,201
3,135,399
3,747,697
-
-
6,883,096
-
4,650
789,489
-
-
794,139
2,629,185
1,478,773
1,505,378
-
-
2,984,151
-
32,120
76,667
-
-
108,787
(2,914,332)
1,612,825
7,286,832
-
8,899,657
(221,985)
2,081 ,600
3,416,919
1,871,167
6,387,416
5,498,5 19
-
-
-
1,418,663
-
1,418,663
-
3,148,768
9,123,389
331,349
1 ,191 ,26 1
13,794,767
7,326,687
Total net position
53,175,607
95,372,534
17,150,231
11,369,218
177,067,590
8,607,888
Operating revenues
14,373,176
34,009,1 17
2,227,1 71
9,248,842
59,858,306
23,618,777
Operating expenses
11,985,784
20,401,253
4,844,694
12,002,395
49,234,126
25,466,031
Operating income (loss)
2,387,392
13,607,864
(2,617,523)
(2,753,553)
10,624,180
(1,847,254)
Nonoperating rev (exp)
(990,529)
(5,042,957)
1,598,849
(581,010)
(5,015,647)
30,040
Income (loss) before contributions and
1,396,863
8,564,907
(1,018,674)
(3,334,563)
5,608,533
(1,817,214)
transfers
Capital contributions
-
-
106,333
2,629,185
2,735,518
16,017
Transfers in
-
-
-
2,576,545
2,576,545
-
Transfers out
(1,618,848)
(2,914,332)
(4,533,180)
Change in net position
(221,985)
5,650,575
(912,341)
1,871,167
6,387,416
(1,801,197)
Total net position — beginning 53,397,592 89,721,959 18,062,572 9,498,051 170,680,174 10,409,085
Total net position — ending $ 53,175,607 $ 95,372,534 $ 17,150,231 $ 11,369,218 $ 177,067,590 $ 8,607,888
The City of South Bend maintains two types of proprietary funds: enterprise and internal
service.
The City maintains seven 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, Wastewater Utility and
Century Center, which are considered major enterprise funds. Data from the other four non -
major enterprise funds (Consolidated Building Department, Parking Garage, Solid Waste and
Blackthorn Golf Course) are combined into a single, aggregated presentation. As of January 1,
2014, the Consolidated Building Fund also included the Code Enforcement department with its
subsidiary, Animal Care & Control.
IV:
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
The City maintains five internal service funds. The City of South Bend uses internal service funds
to account for its business insurance and self- funded liability insurance program, self- funded
employee health benefits program, police take -home vehicle program, unemployment
compensation claims and central services unit (a department that accounts for expenses related
to fuel, vehicle repairs, printing and other services provided to City departments on a cost -
reimbursement basis). The internal service funds have been combined into a single, aggregated
presentation.
As of December 31, 2014, City enterprise funds reported a net position of $177,067,590, an
increase of $6,387,416 or 3.7% from December 31, 2013.
At December 31, 2014, net position includes net investment in capital assets of $136,685,81 1,
restricted net position of $26,587,012 and unrestricted of $13,794,767.
During 2014, the Water Works experienced a decrease in net position of $221,985 while the
Wastewater utility experienced an increase of $5,650,575. The water utility experienced
increased revenues of $589,475 while transmission and distribution /pumping expense decreased
by $2,259,156. The Wastewater utility experienced an increase in revenue of $2,083,039 and
operating expense increased by $2,607,777. Through a series of sewer rate increases approved
by the South Bend Common Council, the Wastewater utility continues to build its fund balances
in order to pay for the mandated Long Term Control Plan, a multi -year program being built by
the City to control wastewater overflow events.
During 2014, Century Center experienced a decrease in net position of $912,341 as the facility
transitioned to a new management company, SMG, in July 2013. In 2013, SMG contributed
$575,000 to the facility to provide some much - needed equipment upgrades. The capital
contribution is being amortized to revenue over the course of the initial contract which expires
June 30, 2016.
Nonmajor Enterprise Funds experienced an increase in net position of $1,871,167 during
2014. The Parking Garage Fund reported a decrease in net position of $637,289 primarily as the
result of the amortization of sales /leaseback charges on the original acquisition. The Blackthorn
Golf Course Fund reported an operating gain of $681,996 as the result of improved golf fee
revenue and the adjustment of interfund loans. (The course was sold to a private developer in
March 2015). The Consolidated Building Fund reported an increase in net position of $2,340,595
with the addition of the Code Enforcement and Animal Care & Control Departments, along
with funding from the EDIT Fund. The Solid Waste Fund reported a decrease in net position of
$514, 135 as the cost of service increased without a requisite rate increase. The last solid waste
fee increase was during 2007 and a fee increase is being planned for 2015.
Pill
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
As of December 31, 2014, City's internal service funds reported a net position of $8,607,888, a
decrease of $1,801,197 or -17.3% compared to 2013. The Liability Insurance Fund decreased its
net position by $478,367 in 2014 as the result of high claims. The Central Services Fund
increased its net position by $80,188. The Self- Funded Employee Benefits Fund had a decrease
in its net position of $1,458,246 due to continually climbing health insurance claims. The City has
initiated changes in its health insurance plan design and has an ongoing, active employee wellness
program to help control future health insurance costs and is planning to offer a near -site
employee health clinic during 2015.
Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the
government. The City maintains six fiduciary funds, which consist of two pension trust funds
(1925 Police Pension and 1937 Firefighters' Pension), one private - purpose trust fund
(Cemetery) and three agency funds (Payroll, Police Distributions Payable and Morris /Palais
Royale Box Office).
Pension Trust Private Purpose Trust Agency
Total assets $ 1,750,191 $ 28,379 $ 2,175,439
Total liabilities 367 - 2,1 75,439
Total net position 1,749,824 28,379 -
Total additions 1 1,252,498 127 -
Total deductions 12,135,121 8,658 -
Changes in net position (882,623) (8,531) -
Effective in fiscal 2009, with the passage of State legislation, the State of Indiana began making
contributions to the 1925 Police 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 decline in the net asset position of the pension trust is the result of timing differences in the
payment of pension benefits and the contributions received from the State of Indiana, as well as
the cost of healthcare benefits to pension members which are not covered by State
contributions.
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 I of the year preceding
the budget period, according to state statute concerning the annual budget of second class cities
and towns. The Common Council adopted the 2014 budget at its meeting held in October
2013.
oil
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
The General Fund budget applicable for fiscal 2014 is reported as follows:
Actual Budgetary
Original Final Basis Variance
Revenue
$ 55,453,616 $
54,882,073 $
55,106,216 $
224,143
Expenditures
55,416,768
56,954,789
55,423,268
1,53 1,521
Surplus (deficit)
36,848
(2,072,716)
(317,052)
1,755,664
General Fund revenue was originally budgeted at $55,453,616 for fiscal 2014. During the year,
the General Fund revenue budget was decreased by $571,543 to $54,882,073. The revenue
budget may be increased or decreased at any time based on updated revenue projections. By
closely aligning the budget revenue with actual, more meaningful analysis is made possible.
During 2014, the General Fund collected $55,106,216 in revenue on a budgetary basis, a surplus
over the final budget level of $224,143. The primary reason for the revenue pickup was a change
in property tax collections that was higher than budgeted.
General Fund expenditures were originally budgeted at $55,416,768 for fiscal 2014. During the
year, the General Fund expenditure budget was increased $1,538,021 to $56,954,789.
Additional appropriations were passed for Fire Department overtime, Common Council legal
expenditures and other purposes. Carryforward of unspent encumbrances from 2013 also
increase the 2014 amended budget.
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 as
required 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 three times during 2014, as required to adjust the budget
to prevent any budget overruns in any expense category.
Additional appropriations for projects, initiatives, or unbudgeted spending requirements within
the General Fund are presented to the Common Council for adoption as deemed necessary by
the Mayor.
General Fund expenditures incurred on a budgetary basis, including cash expended and
outstanding encumbrances as of year -end December 31, 2014, amounted to $55,423,268. The
expenditures and commitments as of year -end December 31, 2014 are less than the 2014
General Fund expenditure budget by $1,531,524 or 2.7 %. The largest savings were in the
police, legal and administration /finance department budgets as personnel and other costs spent
were less than budgeted due to position vacancies and other factors.
22
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Capital Assets and Debt Administration
Statement of Capital Assets
Governmental Business type Government -wide
Activities Activities Activities
2014 2013 2014 2013 2014 2013
Assets not depreciated
Land
$ 15,106,806 $
15,883,485 $
3,773,864 $
3,024,582 $
18,880,670 $
18,908,067
Construction in progress
3,698,336
-
17,242,386
13,925,01 1
20,940,722
13,925,01 1
Total
18,805,142
15,883,485
21,016,250
16,949,593
39,821,392
32,833,078
Assets depreciated
Buildings
130,746,059
130,068,334
85,003,118
82,972,550
215,749,177
213,040,884
Non - building improvements
16,616,553
16,281,242
29,427,578
26,380,406
46,044,131
42,661,648
Machinery and equipment
50,903,040
46,353,978
32,250,580
30,211,994
83,153,620
76,565,972
Roads and Infrastructure
431,536,099
421,539,956
197,923,650
195,443,128
629,459,749
616,983,084
Total Cost
629,801,751
614,243,510
344,604,926
335,008,078
974,406,677
949,251,588
Accumulated depreciation
Buildings
43,779,147
40,365,200
35,712,273
33,316,084
79,491,420
73,681,284
Non - building improvements
8,708,806
8,031,397
6,982,898
5,728,277
15,691,704
13,759,674
Machinery and equipment
30,799,186
28,077,898
22,712,559
21,578,145
53,511,745
49,656,043
Roads
280,745,718
269,277,787
64,016,923
59,840,599
344,762,641
329,1 18,386
Total
364,032,857
345,752,282
129,424,653
120,463,105
493,457,510
466,215,387
Net Depreciated Assets
265,768,894
268,491,228
215, 180,273
214,544,973
480,949,167
483,036,201
Net Capital Assets
$ 284,574,036 $
284,374,713 $
236,196,523 $
231,494,566 $
520,770,559 $
515,869,279
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 Basic Financial Statements.
Under the category of roads and infrastructure, the current cost amount of $629,459,749
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.
23
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Maior Capital Asset Proiect Spendinjq in 2014
Improvements
Road improvements
Economic redevelopment
Water utility
Sewer separation projects
M &E
Wastewater digester upgrade
Wastewater clarifier upgrades
Other wastewater projects
Capital Assets Analysis
$ 1,913,610
Continued project
1,784,726
Continued project
2,565,058
Continued project
2,852,725
Continued project
6,896,354 Continued project
4,256,644 Continued project
671,608 New projects
As of December 31, 2014, government -wide capital assets were valued at $520,770,559, net of
accumulated depreciation, an increase of $4,901,281 or 1.0% since December 31, 2013.
Construction in Progress increased by $7,015,711, and capitalized assets in land, buildings,
improvements, machinery and equipment, and roads decreased by $2,114,430, net of
depreciation, since December 31, 2014. On January 1, 2013, the City instituted a new
capitalization policy that included significantly higher thresholds for expenditures to qualify as
capital assets. Consequently, many purchases formerly considered as capital assets no longer
qualify as such. The asset decrease is the result of fewer assets being added to the register as
those assets that remain continue to depreciate.
At December 31, 2014, the cost of Roads & Infrastructure ($629,459,749) was the major asset
class followed by Buildings ($215,749,177). Major new acquisitions include completed road
projects ($8.8 million), sewer separation projects ($6.1 million) and the new Fire Training
Center ($3.6 million).
Total depreciation expense for 2014 was $29,930,159, as compared to $29,559,898 for 2013.
Additional information on capital assets can be found in the notes to the financial statements in
Note 6.
24
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
Debt Administration
Outstanding debt principal as of December 31, 2014 was $235,085,870, a decrease of
$16,596,408 or -6.6 %. City outstanding debt includes revenue bonds, mortgage bonds, notes
and loans payable and capital leases.
Type
Beginning
Additions
Retirements
Ending
Revenue bonds
$ 208,294,789 $
6,097,697
$ (18,320,100) $
196,072,386
Mortgage bonds
23,626,754
-
(1,814,602)
21 ,812,152
Notes and loans
7,15 1 ,564
500,000
(2,239,409)
5,412,155
Capital leases
12,609,1 71
2,443,289
(3,263,283)
1 1,789,177
Total Debt $ 251,682,278 $ 9,040,986 $ (25,637,394) $ 235,085,870
On June 3, 2014, the South Bend Redevelopment District issued $3,440,000 in refunding
revenue bonds with an average interest rate of 2.75% to currently refund the remainder of its
2002 Redevelopment Special Taxing District bonds to take advantage of favorable interest rates
and lower future debt service payments. In so doing, the City saved $283,285 in debt service
costs over the remaining life of the bonds. In 2014, the City entered into an installment purchase
agreement in the amount of $500,000 for the former Synagogue building at Four Winds Field. In
addition, during 2014, the City entered into an interlocal agreement with Saint Joseph County
and the City of Mishawaka for the consolidation of its Public Safety Answering Point (PSAP) 911
communications center, as mandated by Indiana State law. As part of this interlocal agreement,
the City is guaranteeing repayment of a percentage of the bonds issued ($2,657,697) for
construction of a new PSAP center and related technology improvements.
During 2014, the City entered into capital lease agreements in the amount of $2,443,289 to
purchase certain vehicles, copiers, 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, public works vehicles, golf carts, 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 2014 was less than 2 %.
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 total assessed value of real
and personal property. The City had no general obligation bonded debt outstanding at
December 31, 2014 and none of the above debt issuance amounts are subject to this debt
limitation. A calculation of the City's legal debt limitation can be found in the statistical debt
capacity section of this document.
In 2015, the City plans to continue issuing refunding bonds as appropriate to take advantage of
lower interest rates and the refunding of the 2008 Eddy Street Commons bonds is currently
being planned.
041
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
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
On January 26, 2015, the Common Council approved the issuance of Parks and Recreation
Committee (PARC) bonds for $5.58 million to be used for improvements to the City's parks and
recreation facilities. The bonds, which are expected to sell in July 2015, will be repaid from
EDIT revenues.
On February 9, 2015, the Common Council approved the issuance, by the Redevelopment
Commission, of lease rental revenue bonds for $25 million, to be used for various public works
construction projects related to the City's Smart Streets redevelopment initiative. Lease
payments to the Redevelopment Authority will be paid from TIF revenues over 20 years, which
will be used for the bonds' debt service. On March 24, 2015, the bonds were sold on the open
market and garnered a premium of $150,821.
On March 2, 2015, the City sold Blackthorn golf course to a private investor for $1.655 million.
After the payment to the South Bend Regional Airport Authority for its share of the proceeds,
the City received a net payment of $1,472,130 as the complete settlement. The sale rendered
two capital leases totaling $52,365 issued from the Airport TIF fund uncollectible. These
balances were written off in 2014.
On March 3, 2015, the City's Board of Public Works approved a contract worth $4.8 million for
energy- saving upgrades to the Century Center, the city -owned convention center. The contract
is expected to last 18 months and will be paid from a combination of hotel /motel taxes, cash on
hand, a Qualified Energy Conservation Bond and savings from reduced utility costs.
Economic Factors and 2016 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 100 1) limits property taxes
paid to I % 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.
PTO
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
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 2014, the primary funds supported by property taxes (General Fund, Parks and Recreation
Fund, and Cumulative Capital Development Fund) lost approximately $28.7 million in taxable
property tax levy due to the circuit breaker caps.
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.
Management of the City of South Bend will continue to manage the financial affairs from a
posture of fiscal conservatism similar to the management practices engaged during fiscal 2014.
City Management believes that the national economic recovery will continue according to the
predictions of governmental economists, with low to no inflation over the next fiscal period. In
addition, job creation is the primary engine to drive economic recovery, as the Congressional
Budget Office (CBO) predicts a growth in Gross Domestic Product (GDP) of 3.4% for 2015.
2016 Budget
The City will engage to ensure effective delivery of required services to taxpayers and citizens
within the constraints of available financial resources. The City will continue to provide required
services within the constraints of a balanced General Fund budget. At its 2016 Budget Kickoff
Meeting held on May 28, 2015, the Mayor announced a "zero growth" budget expenditure
target goal for all funds supported by property and income tax revenue.
Through its newly- created 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 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.
051
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
The City is committed to creating a budget for fiscal 2016 that will remain fiscally responsible to
the effective delivery of required services to city citizens and stakeholders within the existing
revenue constraints. Specific concerns for the 2016 budget include the continuing impact of
circuit breaker property tax reform on City revenue, high health and pension costs and other
stagnant or declining revenue sources such as gasoline, wheel and auto excise taxes.
Current Economic Development Projects
Executive management of the City of South Bend continues to pursue economic development
and public works opportunities that will have a long -term favorable impact on the economic
prospects for the community as a whole. These projects include:
• Ignition Park - Along with Innovation Park at Notre Dame, these two sites are Indiana's
first dual -site, state - certified technology park. Transpo, the county's public transportation
authority, was the first tenant in Ignition Park and dedicated its new facility in early 2010.
The second tenant in Ignition Park, Data Realty, is a 50,000 square foot colocation with
cloud services data center and disaster recovery solutions on a managed analytics
platform. Data Realty employs over 20 employees and committed over $15 million in
private investment. In October 2014, ground was broken on two new multi- tenant
buildings that will include a $36 million joint project between General Electric and the
University of Notre Dame. The new turbo machinery facility is scheduled to be
operational by summer 2016.
• Renaissance District /Ivy Tower - Rehabilitation of an 800,000 square foot industrial
space near downtown to create an expected 400 new jobs through a mixed use space to
include data centers, high tech office space, and research facilities. The owner of this
property has committed $10 million in private investment over a I 0 -year period.
• Western Ave. /Lincoln Way West Business Corridors - The Department of
Community Investment is working with citizens and stakeholders in the design and
implementation of new streetscapes along these streets with the intention of attracting
new business development to the west side of the City.
• Smart Streets - The City has undertaken the reversion of some of its downtown
streets from one -way to two -way over the course of the next couple of years. This type
of activity has proven to be very successful in other cities at attracting business and
residential growth in city centers. In 2015, the City will accelerate the project with the
issuance of a $25 million bond to fund these improvements.
• Workforce Strategy - The Department of Community Investment is preparing a
workforce training initiative to coordinate those who offer workforce training into a
single council. This council will focus its training efforts in areas of greatest need and
growth, and will include measurable goals and assessment factors.
01-13
City of South Bend, Indiana
Management's Discussion and Analysis (Continued)
• Existing Business Expansions - The City continues to work with private sector
business concerns to enable expansion of their business operations in the City, adding
new employment opportunities and tax base to the City. In 2015, the Department of
Community Investment is committed to the creation of 595 new jobs with $75 million in
new private investment.
Requests for Information
This Management's Discussion and Analysis, as contained within the City of South Bend
Comprehensive Annual 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, 2014. Questions
concerning any of the information provided in this report, or requests for additional information,
should be addressed to:
John H. Murphy, City Controller
City of South Bend
Department of Administration and Finance
227 W. Jefferson Boulevard, 12`h Floor
South Bend, Indiana 46601
Telephone 574 - 235 -7678
Facsimile 574 - 235 -9928
Email jmurphy(o southbendin.gov
City of South Bend
June 30, 2015
W
City of South Bend, Indiana
Statement of Net Position
December 31, 2014
Assets
Cash and cash equivalents
Investments
Receivables:
Taxes
Accounts
Interest
Intergovernmental
Loans
Internal balances
Inventory
Prepaid expenses
Restricted assets
Property held for resale
Capital assets:
Assets not subject to depreciation
Assets subject to depreciation
Total assets
Deferred Outflows of Resources
Unamortized loss on refunding
Unamortized loss on sale /leaseback
Total deferred outflows of resources
Liabilities
Accounts payable
Due to other governmental units
Performance deposits payable
Accrued liabilities and other:
Accrued payroll payable
Accrued interest payable
Taxes payable
Customer deposits payable
Other current payables
Noncurrent liabilities:
Due within one year:
Accrued interest payable from restricted assets
Compensated absences
Notes and loans payable
Mortgage bonds payable
Claims payable
Capital leases
Revenue bonds payable
Due in more than one year:
Compensated absences
Notes and loans payable
Mortgage bonds payable
Capital leases
Net OPEB obligation
Net pension obligation
Revenue bonds payable
Total liabilities
The Notes to Financial Statements are an
Integral Part of this Statement.
c
Primary Government
Governmental Business -type
Activities Activities Total
$ 48,814,682
$ 4,578,784 $
53,393,466
133,445,883
11,926,476
145,372,359
614,722
-
614,722
1,416,794
3,830,878
5,247,672
193,294
55,810
249,104
1,256,750
-
1,256,750
7,388,822
7,388,822
1,457,525
(1,457,525)
-
902,603
453,709
1,356,312
383,219
83,246
466,465
60,300
45,192,664
45,252,964
18,457,092
-
18,457,092
18,805,142
21,016,250
39,821,392
265,768,894
215,180,273
480,949,167
498,965,722
300,860,565
799,826,287
-
676,576
676,576
562,654
562,654
-
1,239,230
1,239,230
3,871,199
2,456,205
6,327,404
186,176
-
186,176
133,940
1,528,263
1,662,203
3,037,905
961,851
3,999,756
982,536
276,785
1,259,321
1,946
-
1,946
-
108,477
108,477
1 1,473
7,350
18,823
891,754
-
891,754
3,1 14,768
461,110
3,575,878
953,636
335,765
1 ,289,401
1,852,965
67,035
1,920,000
5,024,574
-
5,024,574
2,505,128
1,032,337
3,537,465
7,953,378
7,080,000
15,033,378
1,361,306
-
1,361,306
663,855
3,458,899
4,122,754
19,478,583
413,569
19,892,152
5,976,247
2,275,465
8,251,712
10,043,305
-
10,043,305
60,258,010
-
60,258,010
76,909,134
104,129,874
181,039,008
,)nS ) I I R 1A
IM SQ0) QJgr
2)Q And Rn2
City of South Bend, Indiana
The Notes to Financial Statements are an
Integral Part of this Statement. 31
Statement of Net Position (Continued)
December
31, 2014
Primary Government
Governmental
Business -type
Activities
Activities
Total
Deferred Inflows of Resources
Unamortized gain on refunding
$ 309,120
$ - $
309,120
Unamortized gain on sale /leaseback
-
7,970
7,970
Unamortized service agreement
-
431,250
431,250
Total deferred inflows of resources
309,120
439,220
748,340
Net Position
Net investment in capital assets
168,275,521
136,685,811
304,961,332
Restricted for:
Debt service
5,445,689
794,139
6,239,828
Depreciation fund
-
6,883,096
6,883,096
Customer deposit fund
2,984,151
2,984,151
Cash with fiscal agent
-
1 08,787
1 08,787
Bond reserve fund
3,278,189
8,899,657
12,177,846
Operating reserve fund
-
5,498,519
5,498,519
Capital outlay
-
1,418,663
1,418,663
Unrestricted
116,445,385
13,794,767
130,240,152
Total net position
$ 293,444,784
$ 177,067,590 $
470,512,374
The Notes to Financial Statements are an
Integral Part of this Statement. 31
City of South Bend, Indiana
Net Position - End of year
The Notes to Financial Statements are an
Integral Part of this Statement. 32
Program Revenues
Operating
Capital Grants
Charges for
Grants and
and
Expenses Services
Contributions
Contributions
Functions /Programs
Primary government:
Governmental activities:
General government
$ 19,013,453 $ 1,451,438
$ 693,306
$ -
Public safety
68,783,155 4,992,228
402,062
-
Highways and streets
13,031,500 728,343
-
-
Community and economic
development
19,780,791 485,938
1,520,383
-
Culture and recreation
16,802,311 3,815,920
588,054
-
Interest on long -term debt
2,497,849 -
-
-
Total governmental
activities
139,909,059 11,473,867
3,203,805
-
Business -type activities:
Water Utility
13,020,610 14,373,176
-
-
Wastewater Utility
25,521,753 34,009,1 17
-
-
Century Center
4,747,838 2,227,171
-
95,834
Consolidated Building
3,242,320 1,387,571
-
-
Parking Garage
1,660,596 1,017,218
-
-
Solid Waste
5,81 1,526 5,295,712
-
-
Blackthorn Golf Course
1,874,962 1,548,341
-
-
Total business -type
activities
55,879,605 59,858,306
-
95,834
Total primary government
$ 195,788,664 $ 71,332,173
$ 3,203,805
$ 95,834
General revenues:
Property taxes
Income taxes
Grants and contributions not restricted to specific programs
Investment income
Other miscellaneous income
Gain on sale of fixed assets
Total general revenues
Transfers
Change in Net Position
Net Position - Beginning of year
(as restated)
Net Position - End of year
The Notes to Financial Statements are an
Integral Part of this Statement. 32
Net (Expense) Revenue and Changes in Net
Position
Primary Government
Governmental Business -type
^ - - -- ^ --- - -� - -- T -� -�
$ (16,868,709) $ - $ (16,868,709)
(63,388,865) - (63,388,865)
(12,303,157) - (12,303,157)
(1 7,774,470)
-
(1 7,774,470)
(12,398,337)
-
(12,398,337)
(2,497,849)
-
(2,497,849)
(125,231,387)
-
(125,231,387)
-
1,352,566
1,352,566
-
8,487,364
8,487,364
-
(2,424,833)
(2,424,833)
-
(1,854,749)
(1,854,749)
-
(643,378)
(643,378)
-
(515,814)
(515,814)
-
(326,621)
(326,621)
-
4,074,535
4,074,535
(125,231,387)
4,074,535
(121,156,852)
69,221,468
-
69,221,468
23,822,661
-
23,822,661
29,061,942
-
29,061,942
951,901
128,168
1,080,069
6,718,723
1,501,664
8,220,387
28,476
-
28,476
129,805,171
1,629,832
131,435,003
(683,049)
683,049
-
3,890,735
6,387,416
10,278,151
289,554,049
170,680,174
460,234,223
$ 293,444,784 $ 177,067,590 $ 470,512,374
33
Statement of Activities
Year Ended December 31, 2014
City of South Bend, Indiana
The Notes to Financial Statements are an
Integral Part of this Statement. 34
Parks and
Public Safety
General Fund
Recreation
LOIT
COIT
EDIT
Assets
Cash and cash equivalents
$
6,568,258
$
810,512
$
299,599
$
3,463,734
$
2,356,1 1 1
Investments
22,081,966
2,684,349
992,246
11,471,608
7,803,249
Receivables:
Taxes
70,642
7,103
-
-
-
Accounts
747,573
2,737
-
2,260
-
Interest
31,851
3,789
1,447
16,723
11,342
Intergovernmental
-
-
-
-
-
Loans
-
Due from other funds
148
-
Advances to other funds
558,304
-
2,027,973
Inventory
-
52,385
-
-
Property held for resale
-
174,999
270,001
Restricted assets
Total assets
$
30,058,742
$
3,560,875
$
1,293,292
$
17,157,297
$
10,440,703
Liabilities
Accounts payable
$
286,793
$
27,552
$
-
$
632,582
$
1 12,490
Due to other governmental units
-
-
-
-
Due to other funds
1 7,290
3,120
497
Advances from other funds
-
-
-
Performance deposits payable
82,906
-
-
-
Accrued liabilities and other:
Accrued payroll payable
2,083,554
244,897
284,728
7,833
Taxes payable
794
1,152
-
-
Other current payables
-
1,007
-
-
Totalliabilities
2,471,337
277,728
284,728
640,415
112,987
Fund Balances
Nonspendable
558,304
52,385
-
174,999
270,001
Restricted
-
3,230,762
1,008,564
-
-
Committed
-
-
-
-
Assigned
-
16,341,883
10,057,715
Unassigned
27,029,101
-
-
-
Total fund balances
27,587,405
3,283,147
1,008,564
16,516,882
10,327,716
Total liabilities and fund
balances
$
30,058,742
$
3,560,875
$
1,293,292
$
17,157,297
$
10,440,703
The Notes to Financial Statements are an
Integral Part of this Statement. 34
$ 7,272,684 $
25,236,1 18 $
46,007,016
24,086,540
55,1 13,664
124,233,622
536,082
895
614,722
-
627,559
1,380,129
34,875
79,848
179,875
-
1,256,750
1,256,750
7,388,822
7,388,822
-
1,899
2,047
1,472,130
6,127,495
10,185,902
-
-
52,385
8,835,659
9,176,433
18,457,092
-
60,300
60,300
$ 42,237,970 $ 105,069,783 $ 209,818,662
$ 321 ,726 $ 1,960,663 $ 3,341 ,806
- 186,176 186,176
- 1,956 22,863
500,000 8,213,772 8,713,772
51,034 - 133,940
299,002 2,920,014
- 1,946
- 10,466 11,473
872,760 10,672,035 15,331,990
8,835,659 15,474,263
25,365,611
32,529,551 57,434,567
94,203,444
- 16,413,498
16,413,498
1 0,776,249
37,175,847
(5,700,829)
21,328,272
$ 42,237,970 $ 105,069,783 $ 209,818,662
35
Governmental Funds
Balance Sheet
December 31, 2014
City of South Bend, Indiana
Governmental Funds
Reconciliation of the Balance Sheet to the
Statement of Net Position
December 31, 2014
Fund Balance Reported in Governmental Funds
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
Prepaid expenses are not available to pay for current period
expenditures, and therefore are deferred in the funds
Deferred inflows on refunding are not due and payable in the
current period and are not reported in the funds
Notes and loans 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
Accrued interest is not due and payable in the current period and is
not reported in the funds
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
Other long -term liabilities, such as net OPEB obligations and net
pension obligations, do not present a claim on current financial
resources and are not reported as fund liabilities
Internal service funds are included as part of governmental activities
Net Position of Governmental Activities
The Notes to Financial Statements are an
Integral Part of this Statement. 36
$ 194,486,672
283,286,562
(309,120)
(1 16,286,653)
(1,874,227)
(4,343,181)
(70,301,315)
$ 293,444,784
City of South Bend, Indiana
Revenue
Property taxes
Income taxes
Licenses and permits
Professional sports development taxes
Intergovernmental
Charges for services
Fines and forfeitures
Investment income
Rental income
Otherrevenue
Total revenue
Expenditures
Current:
General government
Public safety
Highways and streets
Community and economic
development
Culture and recreation
Capital outlay
Debt service:
Principal
Interest on long -term debt
Total expenditures
Excess of Revenue (Under) Over
Expenditures
Other Financing Sources (Uses)
Debt issuance
Premium on refunding debt
Proceeds from sale of capital assets
Transfers in
Transfers out
Payment to bond refunding escrow
agent
Total other financing
sources (uses)
Net Change in Fund Balances
Fund Balances - Beginning of year
Fund Balances - End of year
The Notes to Financial Statements are an
Integral Part of this Statement. 37
Parks and
Public Safety
General Fund
Recreation
LOIT
COIT
EDIT
$ 36,579,586 $
7,336,959
$ - $
- $
-
-
6,380,029
8,645,811
8,796,821
141,565
-
-
-
15,853,455
653,704
-
3,309,481
1,758,355
521,748
-
19,917
675
-
-
354,660
77,747
8,957
5,812
51,723
36,007
5,846,199
297,079
97
29,930
61,827,950
10,055,729
6,385,841
9,219,379
9,217,418
5,262,825
-
-
-
-
58,873,932
7,172,496
1,01 1,635
-
1,332,720
11,175,563
-
-
-
14,448
6,546,608
5,338,1 19
12,302
302,753
853,897
760,000
2,028
12,254
184,481
122,520
66,495,442
11,505,018
7,172,496
7,584,986
6,220,639
(4,667,492)
(1,449,289)
(786,655)
1,634,393
2,996,779
13,106
14,448
108,167
2,657,697
4,671,422
729,389
(98,544)
(96,819)
(2,024,446)
(6,491,682)
4,585,984
647,018
(1,916,279)
(3,833,985)
(81,508)
(802,271)
(786,655)
(281,886)
(837,206)
The Notes to Financial Statements are an
Integral Part of this Statement. 37
Governmental Funds
Statement of Revenue, Expenditures, and Changes in Fund Balances
Year Ended December 31, 2014
TIF Airport Nonmajor Funds Total
$ 13,649,252 $
11,655,671 $
69,221,468
-
-
23,822,661
5,019,104
-
141,565
1,590,000
588,054
588,054
500,428
14,156,346
30,663,505
-
5,039,392
10,628,976
92,430
96,317
563,999
84,724
690,406
955,376
1,400
25,000
26,400
98,001
1,606,481
7,877,787
13,925,807
33,857,667
144,489,791
2,759,863 8,022,688
880,822 66,927,250
9,430,322 10,441,957
(3,482,205) (3,482,205)
(1,466,084) 9,095,009 7,1 1 1,663
5,350,191 (5,259,308) (2,698,643)
$ 41,365,210 $ 94,397,748 $ 194,486,672
E
7,309,130
7,309,130
-
1,439,806
13,948,089
5,019,104
12,489,655
29,407,934
1,590,000
9,363,878
12,882,830
500,428
4,538,508
5,360,219
7,109,532
48,211,984
154,300,097
6,816,275
(14,354,317)
(9,810,306)
3,440,000
2,203,487
8,436,905
171,851
-
171,851
8,369
20,107
28,476
25,415
13, 052,699
18,478,925
(1,629,514)
(6,181,284)
(16,522,289)
(3,482,205) (3,482,205)
(1,466,084) 9,095,009 7,1 1 1,663
5,350,191 (5,259,308) (2,698,643)
$ 41,365,210 $ 94,397,748 $ 194,486,672
E
City of South Bend, Indiana
Governmental Funds
Reconciliation of the Statement of Revenue, Expenditures,
and Changes in Fund Balances of Governmental Funds
to the Statement of Activities
Year Ended December 31, 2014
Net Change in Fund Balances - Total governmental funds
Amounts 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
Depreciation expense
Net book value of assets disposed of
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
Debt proceeds (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
Repayment of debt principal is an expenditure in the governmental funds, but not
in the statement of activities (where it reduces long -term debt)
Payment to bond refunding agent
Other premium and discount debt adjustments
Changes in accrued interest payable and other
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
Changes in the net OPEB obligation and net pension obligation 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
Internal service funds are included as part of governmental activities -
Net change in position
Adjustment for items included above:
Prepaid expenses
Capital outlay and other
Depreciation expense
Net book value of assets disposed of
Repayment of debt principal
Compensated absences
Change in Net Position of Governmental Activities
The Notes to Financial Statements are an
Integral Part of this Statement. 39
$ (2,698,643)
23,1 18,129
(20,196,972)
(2,721,834)
35,948
(8,436,905)
12,882,830
3,482,205
839,343
123,244
708,838
(1,702,536)
(1,801,197)
(205,061)
202,260
121,557
12,841
5,802
120,886
$ 3,890,735
City of South Bend, Indiana
Proprietary Funds
Statement of Net Position
December 31, 2014
Governmental
Enterprise Funds
Activities
Proprietary
Wastewater
Nonmajor
Internal Service
Water Utility
Utility
Century Center
Enterprise
Total
Fund
Assets
Current assets:
Cash and cash equivalents $
996,875
$ 2,083,286
$ 892,875
$ 605,748
$ 4,578,784
$ 2,807,666
Investments
3,301,566
6,899,674
-
1,725,236
11,926,476
9,212,261
Receivables:
Accounts
832,553
2,386,961
171,806
439,558
3,830,878
36,665
Interest
13,761
39,556
-
2,493
55,810
13,419
Due from other funds
17,692
4,705
-
-
22,397
8,970
Inventory
210,009
194,500
42,856
6,344
453,709
850,218
Prepaid expenses
38,497
32,745
9,004
3,000
83,246
205,061
Total current assets
5,410,953
11,641,427
1,116,541
2,782,379
20,951,300
13,134,260
Noncurrent assets:
Restricted assets
8,547,648
35,226,353
1,418,663
-
45,192,664
-
Capital assets:
Assets not subject to depreciation
2,942,009
15,041,539
713,434
2,319,268
21,016,250
-
Assets subject to depreciation
58,419,252
131,998,906
14,686,785
10,075,330
215,180,273
1 ,287,474
Total noncurrent assets
69,908,909
182,266,798
16,818,882
12,394,598
281,389,187
1,287,474
Total assets
75,319,862
193,908,225
17,935,423
15,176,977
302,340,487
14,421,734
Deferred Outflows of Resources
Unamortized loss on refunding
117,927
558,649
-
-
676,576
-
Unamortized loss on sale /leaseback
562,654
562,654
Total deferred outflows of
resources
117,927
558,649
-
562,654
1,239,230
-
Liabilities
Current liabilities:
Accounts payable
337,238
1,669,928
121,092
327,947
2,456,205
529,393
Due to other funds
4,809
1,577
-
1,406
7,792
2,759
Performance deposits payable
1,490,826
-
-
37,437
1,528,263
-
Accrued liabilities and other:
Accrued payroll payable
224,402
321,697
117,723
298,029
961,851
117,891
Accrued interest payable
-
268,632
-
8,153
276,785
63
Customer deposits payable
-
108,477
-
108,477
-
Other current payables
-
-
6,650
700
7,350
-
Compensated absences
204,910
256,200
-
-
461,110
132,893
Notes and loans payable
182,053
153,712
335,765
-
Mortgage bonds payable
-
67,035
67,035
-
Claims payable
-
-
-
-
5,024,574
Capital leases
6,142
315,392
710,803
1,032,337
6,273
Revenue bonds payable
1,130,000
5,950,000
-
-
7,080,000
-
Total current liabilities
3,580,380
9,004,173
353,942
1,384,475
14,322,970
5,813,846
Noncurrent liabilities:
Advances from other funds
-
-
-
1,472,130
1,472,130
-
Notes and loans payable
1,051,224
2,407,675
-
3,458,899
Mortgage bonds payable
-
413,569
-
413,569
Capital leases
20,426
749,201
1,505,838
2,275,465
Revenue bonds payable
17,610,152
86,519,722
-
104,129,874
Total noncurrent liabilities
18,681,802
90,090,167
2,977,968
111,749,937
-
Total liabilities
22,262,182
99,094,340
353,942
4,362,443
126,072,907
5,813,846
Deferred Inflows of Resources
Unamortized gain on sale /leaseback
-
-
-
7,970
7,970
-
Unamortizedserviceagreement
-
431,250
431,250
Total deferred inflows of
resources
-
-
431,250
7,970
439,220
The Notes to Financial Statements are an
Integral Part of this Statement.
40
City of South Bend, Indiana
The Notes to Financial Statements are an
Integral Part of this Statement. 41
Proprietary Funds
Statement of Net Position (Continued)
December 31, 2014
Governmental
Enterprise Funds
Activities
Proprietary
Wastewater
Nonmajor Internal Service
Water Utility
Utility
Century Center
Enterprise Total Fund
Net Position
Net investment in capital assets
$ 41,681,472
$ 69,426,163
$ 15,400,219
$ 10,177,957 $ 136,685,811 $ 1,281,201
Restricted:
Depreciation fund
3,135,399
3,747,697
-
- 6,883,096 -
Debt service fund
4,650
789,489
794,139
Customer deposit fund
1,478,773
1,505,378
2,984,151
Cash with fiscal agent
32,120
76,667
108,787
Bond reserve fund
1,612,825
7,286,832
8,899,657
Operating reserve fund
2,081,600
3,416,919
-
5,498,519
Capital outlay
-
-
1,418,663
- 1,418,663 -
Unrestricted
3,148,768
9,123,389
331,349
1,191,261 13,794,767 7,326,687
Total net position
$ 53,175,607
$ 95,372,534
$ 17,150,231
$ 11,369,218 $ 177,067,590 $ 8,607,888
The Notes to Financial Statements are an
Integral Part of this Statement. 41
City of South Bend, Indiana
Proprietary Funds
Statement of Revenue, Expenses, and Changes in Net Position
Year Ended December 31, 2014
Governmental
Enterprise Funds Activities
Proprietary
Wastewater Non major Internal Service
Water Utility Utility Century Center Enterprise Total Fund
Operating Revenue
Metered revenue
$ 10,788,782 $
33,333,981
$ -
$
$ 44,122,763 $
Convention fees
-
-
2,126,537
2,126,537
Fire protection revenue
1,982,586
-
1,982,586
Licenses and permits
-
1,191,534
1,191,534
Interest and penalty charges
122,820
-
-
122,820
Parking fees
-
100,634
953,065
1,053,699
Solid waste fees
-
4,790,653
4,790,653
-
Employee /Employer contributions
-
-
16,404,400
Charges for sales and services
-
-
7,025,252
Water leak insurance revenue
964,764
-
964,764
-
Golf course fees
-
-
1,548,341
1,548,341
Charges to other funds
-
89,279
-
89,279
-
Other
514,224
585,857
-
765,249
1,865,330
189,125
Total operating revenue
14,373,176
34,009,117
2,227,171
9,248,842
59,858,306
23,618,777
Operating Expenses
Cost of water
3,930,091
-
-
-
3,930,091
-
Cost of sewage treatment
-
10,258,316
-
10,258,316
-
Other operation and maintenance
-
-
-
9,491,098
9,491,098
6,667,087
General and administration
1,605,873
3,880,262
4,058,811
1,457,896
11,002,842
1,147,314
Insurance claims and premiums
-
-
-
-
-
17,530,073
Plumbing contractors
981,418
981,418
-
Taxes other than income taxes
1 ,764,653
-
-
1 ,764,653
Customer service
1,823,674
175,389
-
73,458
2,072,521
-
Depreciation
1,880,075
6,087,286
785,883
979,943
9,733,187
121,557
Total operating expenses
11,985,784
20,401,253
4,844,694
12,002,395
49,234,126
25,466,031
Operating Income (Loss)
2,387,392
13,607,864
(2,617,523)
(2,753,553)
10,624,180
(1,847,254)
Nonoperating Revenue (Expenses)
Investment income
44,297
77,543
329
5,999
128,168
44,340
Hotel /Moteltax revenue
-
-
1,313,450
-
1,313,450
-
Interest expense
(818,277)
(3,689,140)
-
(1,114)
(4,508,531)
Other nonoperating expenses
-
(1,403,639)
(1,403,639)
(Loss) gain on sale of assets
(31 1,027)
10,304
(300,723)
(12,841)
Debt service charge
-
-
-
(1,459)
Other nonoperating revenue (expenses) -
Charges
94,478
(38,025)
96,856
(585,895)
(432,586)
Other nonoperating general revenue
-
188,214
188,214
-
Total nonoperating
(expenses) revenue
(990,529)
(5,042,957)
1,598,849
(581,010)
(5,015,647)
30,040
Income (Loss) - Before contributions
1,396,863
8,564,907
(1,018,674)
(3,334,563)
5,608,533
(1,817,214)
Capital Contributions -
Othercapitalcontributions
-
-
106,333
2,629,185
2,735,518
16,017
Transfers In
-
2,576,545
2,576,545
-
Transfers Out
(1,618,848)
(2,914,332)
-
(4,533,180)
Change in Net Position
(221,985)
5,650,575
(912,341)
1,871,167
6,387,416
(1,801,197)
Net Position - Beginning of year
53,397,592
89,721,959
18,062,572
9,498,051
170,680,174
10,409,085
Net Position - End of year
$ 53,175,607 $
95,372,534
$ 17,150,231
$ 11,369,218
$ 177,067,590 $
8,607,888
The Notes to Financial Statements are an
Integral Part of this Statement. 42
City of South Bend, Indiana
Proprietary Funds
Statement of Cash Flows
Year Ended December 31, 2014
The Notes to Financial Statements are an
Integral Part of this Statement. 43
Governmental
Enterprise Funds
Activities
Proprietary
Wastewater
Nonmajor
Internal Service
Water Utility
Utility
Century Center
Enterprise
Total
Fund
Cash Flows from Operating Activities
Receipts from customers and users
$ 14,372,460 $
33,885,550
$ 2,127,435 $
9,250,918 $
59,636,363
$ 23,632,248
Receipts from interfund services and reimbursements
-
3,678
6,260
-
9,938
-
Payments tosuppliers
(4,096,872)
(7,614,881)
(2,026,607)
(6,906,011)
(20,644,371)
(21,675,942)
Payments to employees
(4,360,202)
(7,373,398)
(2,061,831)
(4,076,837)
(17,872,268)
(2,868,392)
Internal activity - Payments to other funds
(9,050)
(712)
(5,950)
(15,712)
(66,425)
Payment of taxes other than income taxes
(1,808,051)
-
(1,808,051)
-
Net cash provided by (used in)
operating activities
4,098,285
18,900,237
(1,954,743)
(1,737,880)
19,305,899
(978,511)
Cash Flows from Noncapital Financing Activities
Transfers from other funds
-
-
-
2,359,625
2,359,625
-
Hotel /Motel tax
1,313,450
-
1,313,450
Other nonoperating revenue
298,603
298,603
Other nonoperating expenses
(943,371)
(370,545)
-
(1,313,916)
Transfers to other funds
(1,618,848)
(2,914,332)
-
(4,533,180)
Net cash (used in) provided by
noncapital financing activities
(2,562,219)
(3,284,877)
1,612,053
2,359,625
(1,875,418)
Cash Flows from Capital and Related Financing
Activities
Proceeds from capital debt issued
15,764
259,916
-
328,401
604,081
Proceeds from sales of capital assets
957,312
-
3,227
7,728
968,267
(12,841)
Purchase of capital assets
(575,428)
(12,233,023)
(10,500)
(941,983)
(13,760,934)
(28,900)
Principal paid on capital debt
(1,251,588)
(6,320,626)
(860,802)
(8,433,016)
(5,802)
Interest paid on capital debt
(769,025)
(3,376,045)
(43,204)
(4,188,274)
(693)
Debt service charge
(38,025)
(38,025)
-
Net cash used in capital and related
financing activities
(1,622,965)
(21,707,803)
(7,273)
(1,509,860)
(24,847,901)
(48,236)
Cash Flows from Investing Activities
Interest received on investments
45,673
37,987
329
4,671
88,660
43,399
Purchase of investment securities
(265,503)
-
-
(616,342)
(881,845)
(90,814)
Proceeds from sale and maturities of investment
securities
3,661,079
-
323,117
3,984,196
542,910
Net cash (used in) provided by
investing activities
(219,830)
3,699,066
329
(288,554)
3,191,011
495,495
Net Decrease in Cash and Cash Equivalents
(306,729)
(2,393,377)
(349,634)
(1,176,669)
(4,226,409)
(531,252)
Cash and Cash Equivalents- Beginning of year
3,310,604
18,301,984
2,661,172
1,782,417
26,056,177
3,338,918
Cash and Cash Equivalents - End of year
$ 3,003,875 $
15,908,607
$ 2,31 1,538 $
605,748 $
21,829,768
$ 2,807,666
The Notes to Financial Statements are an
Integral Part of this Statement. 43
City of South Bend, Indiana
Proprietary Funds
Statement of Cash Flows (Continued)
Year Ended December 31, 2014
Statement of Net Position Classification of Cash
and Cash Equivalents
Cash and investments
Restricted cash and investments
Less amounts classified as investments
Governmental
Enterprise Funds Activities
Proprietary
Wastewater Nonmajor Internal Service
Water Utility Utility Century Center Enterprise Total Fund
$ 4,298,441 $ 8,982,960 $ 892,875 $
8,547,648 35,226,353 1,418,663
(9,842,214) (28,300,706) -
$ I nnI 07C Q 1 onn Ln7 Q 7 1 1 1 CIO Q
Total cash and cash equivalents =
Reconciliation of Operating Income (Loss) to Net
Cash from Operating Activities
Operating income (loss) $
Adjustments to reconcile operating income (loss)
to net cash from operating activities:
Depreciation and amortization
Changes in assets and liabilities:
Receivables
Due from other funds
Inventory
Prepaid expenses and other assets
Accounts payable
Due to other funds
Estimate of unfiled claims
Accrued liabilities and other
Net cash rovided b (used in)
2,330,984 $ 16,505,260 $ 12,019,927
- 45,192,664 -
(1,725,236) (39,868,156) (9,212,261)
605,748 $ 21,829,768 $ 2,807,666
2,387,392 $ 13,607,864 $ (2,617,523) $ (2,753,553) $ 10,624,180 $ (1,847,254)
1,880,075
6,087,286
785,883
979,943
9,733,187
121,557
(716)
(123,567)
(99,736)
2,076
(221,943)
2,818
20,906
3,678
-
24,584
(5,845)
(52,529)
(31,102)
(42,856)
15,694
(110,793)
9,318
(16,227)
4,269
(1,694)
(3,000)
(16,652)
(205,061)
25,338
(997,222)
(75,102)
(75,890)
(1,122,876)
(255,929)
(9,050)
(712)
(5,950)
(15,712)
412
-
-
-
-
1,148,181
(136,904)
349,743
96,285
102,800
411,924
53,292
P y
operating activities $ 4,098,285 $ 18,900,237 $ (1,954,743) $ (1,737,880) $ 19,305,899 $ (978,511)
Noncash Investing, Capital, and Financing Activities
Blackthorn advance adjustment $ - $ - $ - $ 216,920 $ 216,920 $ -
Capital asset contribution 106,333 2,629,185 2,735,518 16,017
44
City of South Bend, Indiana
Fiduciary Funds
Statement of Fiduciary Net Position
December 31, 2014
Assets
Cash and cash equivalents
Investments
Receivables:
Accounts
Interest
Total assets
Liabilities
Accounts payable
Accrued liabilities and other
Customer deposits payable
Police distribution payable
Total liabilities
Net Position for Pension Benefits and Other
Purposes
The Notes to Financial Statements are an
Integral Part of this Statement.
45
Private -
Pension Trust Purpose Trust
Funds Fund Agency Funds
$ 405,392 $
1,342,628
177
1,994
1,750,191
6,574 $ 2,175,439
21,773 -
28,379 $ 2,175,439
181 - $ -
186 - 301,548
- - 1,071,032
szm szsq
367 - $ 2,175,439
$ 1,749,824 $ 28,379
City of South Bend, Indiana
Fiduciary Funds
Statement of Changes in Fiduciary Net Position
Year Ended December 31, 2014
Additions
Investment income:
Interest and dividends
Contributions:
On behalf
Other
Total contributions
Total additions
Deductions
Benefit payments
Administrative expenses
Total deductions
Net Decrease in Net Position
Net Position - Beginning of year
Net Position - End of year
The Notes to Financial Statements are an
Integral Part of this Statement. 46
Private -
Pension Trust Purpose Trust
M ram r-..rA
$ 5,722 $ 127
1 1,240,963 -
c Q i')
1 1,246,776 -
1 1,252,498 127
12,1 13,244 -
21,877 8,658
12,135,121 8,658
(882,623) (8,531)
7 L'')7 A A 7 '')L O I n
$ 1,749,824 $ 28,379
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies
The following is a summary of the significant accounting policies used by the City of
South Bend:
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. Although blended component units are legal
separate entities, in substance, they are part of the City's operations.
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. Financial
statements for the Redevelopment Authority are available at the City Controller's
Office, City of South Bend, 227 West Jefferson, 12th Floor County -City Building, South
Bend, Indiana 46601.
The South Bend Building Corporation, Inc. is also 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. Financial statements for the Building
Corporation are available at the City Controller's Office, City of South Bend, 227 West
Jefferson, 12th Floor County -City Building, South Bend, Indiana 46601.
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 does not extend
beyond making the appointments. The mayor and the Common Council appoint the
board members of the South Bend Housing Authority, South Bend Public
Transportation Corporation (TRANSPO), Urban Enterprise Association, 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.
47
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued
Report Presentation
Governmental accounting principles require that financial reports include two different
perspectives - the government -wide perspective and the fund -based perspective. 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. 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 revenues 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 -based
presentation found in the fund -based statements.
The statement of activities demonstrates the degree to which the direct expenses of a
given function or segment are offset by program revenues. Direct expenses are those
that are clearly identifiable with a specific function or segment. Program revenues
include: (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 revenues are reported instead as general revenue.
For the most part, the effect of interfund activity has been removed from these
statements. Exceptions to this general rule are charges between the City's enterprise
funds and various other functions of the City. Eliminations of these charges would
distort the direct costs and program revenues reported for the various functions
concerned.
Separate financial statements are provided for governmental funds, proprietary funds,
and fiduciary funds, even though the latter are excluded from the government -wide
financial statements. Major individual governmental funds and major individual enterprise
funds are reported as separate columns in the fund financial statements.
Fund Accounting
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 that specific revenues were used for. The
various funds are aggregated into three broad fund types:
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:
G-]
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued)
• The General Fund, which is the primary operating fund, accounts for all financial
resources used to provide general government services, other than those specifically
assigned to another fund.
• The Park and Recreation Fund is used to account for the operation of the City park
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 Public Safety Local Option Income Tax (LOIT) Fund is used to account for the
City's share of the public safety local option income tax. Expenditures are restricted
to public safety.
• The County Option Income Tax (COIT) Fund is used to account for the City's share
of the county option income tax. Expenditures include any lawful purpose of the
City.
• The Economic Development Income Tax (EDIT) Fund is to account for the City's
share of the County Economic Development Tax. Expenditures include any lawful
purpose of the City.
• The Tax Incremental Financing (TIF) Airport Fund is used to account for public
improvement projects in the airport 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. As of January 1, 2015, this
fund has been renamed the River West TIF Fund.
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 Century Center Fund accounts for the operation and maintenance of the City's
convention center. Financing is received from various user fees for conventions,
meetings, and other events held at the civic center and a subsidy from the St. Joseph
County's Special Funds Board of Managers.
LL]
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued
The City's internal service funds are used to account for various City liability coverage,
employee medical coverage, unemployment claims, 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 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 pension trust funds account for the activities of the 1925 Police and 1937 Fire
Pension Funds which accumulate resources for pension benefit payments.
• The Private - Purpose Trust Fund reports a trust arrangement under which principal
and income benefit cemetery maintenance.
• The agency funds account for assets held by the City as an agent for employee
payroll, pension, and payroll deductions and held for an entertainment center's
event deposits.
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. 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.
Further, 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. While reported in fund financial statements, certain eliminations are
made in the preparation of the government -wide financial statements. Transfers
between the funds included in governmental activities are eliminated so that only the net
amount is included as transfers in the governmental activities column. Similarly, balances
between the funds included in business -type activities are eliminated so that only the net
amount is included as transfers in the business -type activities column.
50
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued)
Basis of Accountin
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 City has spent its resources.
Expenditures are reported when the goods are received or the services are rendered.
Capital outlays are reported as expenditures (rather than as capital assets) because they
reduce the ability to spend resources in the future; conversely, employee benefit costs
that will be funded in the future (such as pension and retiree healthcare related costs, or
sick and vacation pay) are not counted until they come due for payment. In addition,
debt service expenditures, claims, and judgments are recorded only when payment is
due.
Revenues are not recognized until they are collected, 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. The following major revenue sources meet the
availability criterion: property taxes, franchise taxes, licenses, and interest associated
with the current fiscal period.
Proprietary funds and fiduciary funds use the economic resources measurement focus
and the full accrual basis of accounting. Revenue is recorded when earned and expenses
are recorded when a liability is incurred, regardless of the timing of related cash flows.
Specific Balances and Transactions
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.
Debt securities are reported at fair market 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 are reported at fair market value.
51
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued)
Money market investments that mature within one year or less at the date of their
acquisition are reported at amortized cost. There is no material difference between
amortized cost and fair market value. Other money market investments are reported at
fair market value.
Investment income, including changes in the fair market 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 both government -wide and 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 fair market value at the date of donation.
Capitalization thresholds (the dollar values above which asset acquisitions are added to
the capital asset accounts), depreciation methods, and estimated useful lives of capital
assets reported in the government -wide statements and proprietary funds are noted in
the table below.
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. Interest incurred during the construction phase of
capital assets of business -type activities is included as part of the capitalized value of the
assets constructed.
52
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued
Infrastructure, intangibles, buildings, equipment, roads, and vehicles are depreciated
using the straight -line method over the following useful lives:
Capital Asset Class
Buildings and improvements
Large office equipment
Vehicles and other equipment
Roads - Collectors and residential
Utilities infrastructure (large)
Capitalization
Threshold
$ 100,000
10,000
10,000
250,000
250,000
Lives (in years)
20 -30
5 -10
5 -20
40 -50
30 -99
Long -term Obligations - In the government -wide financial statements and the
proprietary fund types in the 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
straight -line 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 /Inflows of Resources
In addition to assets, the statement of net position and /or balance sheet will sometimes
report a separate section for deferred outflows of resources. This separate financial
statement element represents a consumption of net position that applies to a future
period and so will not be recognized as an outflow of resources (expense /expenditure)
until then. The City has two items that qualify for reporting in this category. The
deferred charge on refunding and the unamortized loss related to a sale /leaseback
transaction are reported in the enterprise funds 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. See Note I I for additional information
related to the sale /leaseback transaction.
53
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued
In addition to liabilities, the statement of net position and /or balance sheet will
sometimes report a separate section for deferred inflows of resources. This separate
financial statement element represents an acquisition of net position that applies to a
future period and so will not be recognized as an inflow of resources (revenue) until that
time. The City has three items that qualify for reporting in this category: a deferred gain
on refunding, an unamortized amount related to a service agreement, and an
unamortized gain related to a sale /leaseback transaction.
Net Position Flow Assumption
Sometimes the City will 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.
Fund Balance Flow Assumption
Sometimes the City will 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 City's policy to consider restricted fund balance to have been depleted
before using any of the components of unrestricted fund balance. Further, 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 (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.
54
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued)
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, for all non -TIF Funds,
or by the South Bend Redevelopment Commission for TIF Funds. 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 specified use. The South Bend Common Council is
the highest level of decision - making authority for the non -TIF Funds. The South Bend
Redevelopment Commission is the highest level of decision - making authority for the TIF
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.
When both restricted and unrestricted amounts are available for use, generally it is the
City's policy to use restricted amounts first, with unrestricted resources utilized as
needed. In the case of unrestricted resources, it is generally the City's policy to use
committed amounts first, followed by assigned amounts, then unassigned amounts as
needed.
The fund balance policy includes reserve ranges for funds as follows:
General: 25 percent of annual expenditures
COIT: 50 percent of annual expenditures
EDIT: 50 percent of annual expenditures
Water operating: 5 percent of annual expenditures
Wastewater operating: 5 percent of annual expenditures
Other: generally 20 percent or 25 percent of annual expenditures
The detail of the fund balance classifications of the governmental funds for the year
ended December 31, 2014 can be found in Note 17.
55
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued)
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
February 15. These rates were based upon the preceding year's March I (lien date)
assessed valuations, adjusted for various tax credits. Taxable property is assessed at 100
percent 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.
Pension and Other Postemployment Benefit Costs - The City offers both pension
and retiree healthcare benefits to retirees. The City receives an actuarial valuation to
compute the annual required contribution (ARC) necessary to fund the obligation over
the remaining amortization period. In the governmental funds, pension and OPEB costs
are recognized as contributions are made. For the government -wide statements and
proprietary funds, the City reports the full accrual cost equal to the current year
required contribution, adjusted for interest and "adjustment to the ARC" on the
beginning of year underpaid amount, if any.
Compensated Absences (Vacation and Sid< Leave)
a. 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. Policemen, teamsters,
40- hour - per -week firemen, and all other employees earn eight sick days per year,
regardless of tenure of service. Firemen working 24 -hour workdays with tenure
greater than five years earn five days of sick leave per year, and firemen working 24-
hour workdays with tenure less than five years, earn four days of sick leave per year.
Sick leave may accumulate to a maximum 90 days for policemen, 100 days for 40-
hour- per -week firemen, 38 days for 24- per -day fireman, 75 days for teamsters, and
65 days for all other employees. Accumulated sick leave is paid to firemen and
policemen upon termination of employment depending upon the number of sick
leave hours transacted, at a rate of 50 percent to 100 percent of the base hourly rate
of pay for firemen and at a rate of one -half the first class patrolman rank rate of pay
for policemen. Accumulated sick leave is paid to teamster employees, upon
retirement, at a rate of $25 for each accumulated sick leave day transacted. Sick
leave buy -back during employment is paid to firemen and policemen annually upon
request. Upon request, firemen 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, policemen are paid up to a maximum eight unused sick days at the first class
patrolman rate of pay.
56
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued)
b. Vacation Leave - Primary government employees earn vacation leave at rates from
zero days to 28 days based upon hire date, years of service, and employee
classification. Vacation leave does not accumulate from year to year for policemen,
firemen, and teamster employees, except in instances where special cases are
approved. Nonbargaining employees carry over to the following year unused
vacation time up to a maximum of 160 hours. Employees earn vacation leave during
the year for use in the succeeding year. Unused vacation leave is paid to employees
upon termination of employment. Firemen 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.
c. Personal Leave - City policemen 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. Policemen
personal leave does not accumulate from year to year. Policemen unused personal
leave may be rolled into sick leave. City employees under the teamster contract can
use up to four days of their sick leave for personal leave.
d. Compensatory Leave - City firemen 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. All other nonexempt employees working overtime hours
earn compensatory time off up to a maximum balance of 32 hours, after which they
are paid overtime wage. All other exempt employees working overtime hours earn
compensatory time up to a maximum balance of 160 hours.
Unused vacation leave for all City employees, and unused sick leave and compensatory
leave of firemen, policemen, 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, Century Center fund, 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.
57
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 1 - Summary of Significant Accounting Policies (Continued)
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 and liabilities 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.
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:
Major governmental funds:
• General Fund
• Special Revenue Funds - Park and Recreation, Public Safety Local Option Income
Tax (LOIT), County Option Income Tax (COIT), Economic Development Income
Tax (EDIT)
• Capital Projects Fund - TIF Airport
Non major governmental funds:
• Special Revenue Funds - Motor Vehicle Highway, Recreation Nonreverting,
Studebaker Oliver Revitalization Grants, Economic Development State Grants, DCI
Operating, Community Investment Grants, Police State Seizure, Juvenile Positive
Assistance, Law Enforcement Continuing Education, Loss Recovery, Emergency
Telephone System, Local Road and Street, Excess Welfare Distribution, Human
Rights - Federal, East Race Waterway, Morris and Palais Marketing, Police Block
Grants, Economic Development Commission, Hazmat, Indiana River Rescue, COPS
Block Grant II, Regional Police Academy, COPS MORE Grant, Federal Drug
Enforcement, Gift, Urban Development Action Grant, Leaf Collection and Removal,
Police K -9 Unit, Rainy Day, Excess Levy
• Debt Service Fund - College Football Hall of Fame Debt Service, Redevelopment
Bond - Airport Taxable, Coveleski Bond Debt Service Reserve, Redevelopment
Bond - Palais Royale
61:3
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 2 - Stewardship, Compliance, and Accountability (Continued)
• Capital Projects Funds - Emergency Medical Services, Professional Sports
Development, Coveleski Stadium Capital, Zoo Endowment, Park Nonreverting
Capital, Cumulative Capital Development, Cumulative Capital Improvement, Morris
Performing Arts Center Capital, TIF Downtown, TIF Leighton Plaza, TIF - West
Washington, Redevelopment General, Community Revitalization Enhancement
District, TIF No. I - Southside Development, TIF No. 3 - Southside Development,
TIF - Central Medical Service Area, Football Hall of Fame Capital, Major Moves, TIF
- Northeast Development, TIF Douglas Road, TIF Northeast Residential, Certified
Technology Park, Palais Royale Historic Preservation, Airport Urban Enterprise
Zone
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 I 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 object
classifications, namely, Personnel, Supplies, Services, or Capital of a fund budget without
approval of the Common Council. The Department of Local Government Finance must
approve any revisions to the appropriations for any fund or any department of the
General Fund. The legal level of budgetary control is by object and department within
the fund for the General Fund and by object within the fund for all other budgeted
funds.
Expenditures did not exceed appropriations for any funds or any departments within the
General fund, the Parks and Recreation Fund, the Public Safety LOIT Fund, the COIT
Fund, the EDIT Fund, or any other major or nonmajor governmental fund which
required legally approved budgets.
Fund Deficits - At December 31, 2014, the following funds reported deficits in fund
equity, which are violations of State statute: Urban Development Action Grant
($231,454), TIF - Douglas Road ($665,242), and TIF - Northeast Residential
($3,035,281).
Fund equity deficits arose primarily from expenditures or expenses exceeding revenues
due to the underestimate of current requirements. It is anticipated that these deficits
will be repaid from future revenues.
59
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 3 - Deposits and Investments
Authorization for investment activity is stated in Indiana Code 5 -13. Indiana Code 5 -13 -9
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. These investments are required by statute to have a
stated final maturity of not more than five years.
Indiana Code also provides for 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 percent 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 state 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 is considered to have a
stated final maturity of one day. This agreement must be fully collateralized by interest -
bearing obligations as determined by their current market value.
Kii
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 3 - Deposits and Investments (Continued)
The City's cash and investments are subject to several types of risk, which are examined
in more detail below:
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. At December 31, 2014, the bank balances held at the following institutions
were collateralized with securities held by the pledging financial institution's trust
department or agent in the depositor- City's name:
Wells Fargo Bank, NA $ 1,905,683
US Bank NA 3,544,999
KeyBank 606,930
Bank of New York Mellon 7,318,951
The remaining bank, balances were insured by the Federal Deposit Insurance
Corporation or the Public Deposit Insurance Fund, which covers all public funds held in
approved depositories. 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 formal policy for custodial credit risk. At year end, $103,908,639 of
investment securities were 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:
Primary Government
U.S. Government Agency Securities
Less than One One to Two More than
Fair Value Year Years Two Years
$ 103,908,639 $ 15,026,678 $ 73,916,899 $ 14,965,062
a
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 3 - Deposits and Investments (Continued)
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.
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 percent of any
institution's asset base. United States of America government and United States of
America governmental agency securities are exempt from this policy requirement.
Note 4 - Receivables
The following receivable accounts have timing and credit characteristics different from
typical accounts receivable. As of December 31, 2014, 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:
Nonmajor governmental funds:
Economic development state grants
Community investment grants
Urban development action grant
Industrial revolving
TI F downtown
Total
62
Receivable Noncurrent
$ 423,821 $
58,200
301,820
235,419
1,768,852
1,330,650
4,407,181
4,376,997
487,148
296,564
$ 7,388,822 $ 6,297,830
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 5 - Net Investment in Capital Assets
The net investment in capital assets is calculated as follows:
Capital assets not subject to depreciation
Capital assets subject to depreciation - Net
Deferred outflows (capital related)
Deferred inflows (capital related)
Notes and loans payable - Current
Mortgage bonds payable - Current
Capital leases payable - Current
Revenue bonds payable - Current
Notes and loans payable - Noncurrent
Mortgage bonds payable - Noncurrent
Capital leases payable - Noncurrent
Revenue bonds payable - Noncurrent
Unspent debt proceeds
Governmental Business -type
Activities Activities Total
$ 18,805,142 $ 21,016,250 $ 39,821,392
265,768,894
215,180,273
480,949,167
-
676,576
676,576
(309,120)
-
(309,120)
(953,636)
(335,765)
(1,289,401)
(1,852,965)
(67,035)
(1,920,000)
(2,505,128)
(1,032,337)
(3,537,465)
(7,953,378)
(7,080,000)
(15,033,378)
(663,855)
(3,458,899)
(4,122,754)
(19,478,583)
(413,569)
(19,892,152)
(5,976,247)
(2,275,465)
(8,251,712)
(76,909,134)
(104,129,874)
(181,039,008)
303,531
18,605,656
18,909,187
Net investment in capital assets $ 168,275,521 $ 136,685,811 $ 304,961,332
63
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 6 - Capital Assets
Capital asset activity of the City's governmental and business -type activities was as
follows:
Balance
Balance
Governmental Activities
January I, 2014
Additions
Disposals
December 31, 2014
Capital assets not being depreciated:
Land
$
15,883,485
$ - $
776,679
$
15,106,806
Construction in progress
-
3,698,336
-
3,698,336
Subtotal
15,883,485
3,698,336
776,679
18,805,142
Capital assets being depreciated:
Buildings
130,068,334
2,680,430
2,002,705
130,746,059
Improvements other than buildings
16,281,242
335,311
-
16,616,553
Machinery and equipment
46,353,978
6,407,909
1,858,847
50,903,040
Roads and other infrastructure
421,539,956
9,996,143
-
431,536,099
Subtotal
614,243,510
19,419,793
3,861,552
629,801,751
Accumulated depreciation:
Buildings
40,365,200
3,649,898
235,951
43,779,147
Improvements other than buildings
8,031,397
677,409
-
8,708,806
Machinery and equipment
28,077,898
4,401,734
1,680,446
30,799,186
Roads and other infrastructure
269,277,787
11,467,931
-
280,745,718
Subtotal
345,752,282
20,196,972
1,916,397
364,032,857
Net capital assets being depreciated
268,491,228
(777,179)
1,945,155
265,768,894
Net capital assets
$
284,374,713
$ 2,921,157 $
2,721,834
$
284,574,036
Balance
Balance
Business -type Activities
January I, 2014
Additions
Disposals
December 31, 2014
Capital assets not being depreciated:
Land
$
3,024,582
$ 749,282 $
-
$
3,773,864
Construction in progress
13,925,011
9,448,967
6,131,592
17,242,386
Subtotal
16,949,593
10,198,249
6,131,592
21,016,250
Capital assets being depreciated:
Buildings
82,972,550
2,086,744
56,176
85,003,1 18
Improvements other than buildings
26,380,406
3,047,172
-
29,427,578
Machinery and equipment
30,211,994
3,087,395
1,048,809
32,250,580
Roads and other infrastructure
195,443,128
4,122,807
1,642,285
197,923,650
Subtotal
335,008,078
1 2,344,1 18
2,747,270
344,604,926
Accumulated depreciation:
Buildings
33,316,084
2,446,1 14
49,925
35,712,273
Improvements other than buildings
5,728,277
1,254,621
-
6,982,898
Machinery and equipment
21,578,145
1,134,414
-
22,71 2,559
Roads and other infrastructure
59,840,599
4,898,038
721,714
64,016,923
Subtotal
120,463,105
9,733,187
771,639
129,424,653
Net capital assets being depreciated
214,544,973
2,610,931
1,975,631
215,180,273
Net capital assets
$
231,494,566
$ 12,809,180 $
8,107,223
$
236,196,523
64
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 6 - Capital Assets (Continued)
Depreciation expense was charged to programs of the primary government as follows:
Governmental activities:
General government $ 565,968
Public safety 3,588,722
Highways and streets, and other general infrastructure 12,036,194
Culture and recreation 3,168,927
Economic development 715,604
Internal service funds (depreciation is charged to the various
functions based on their usage of the assets) 121,557
Total governmental activities $ 20,196,972
Business -type activities:
Water
$ 1,880,075
Wastewater
6,087,286
Civic center
785,883
Building permits
124,860
Parking garage
269,612
Solid waste
427,958
Golf course
157,513
Total business -type activities
$ 9,733,187
65
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 6 - Capital Assets (Continued)
Construction Commitments - The City has active construction projects at year end.
As of December 31, 2014, the City's commitments with contractors are as follows:
Pro
Remaining
Spent to Date Commitment
Governmental activities:
Intersection improvements - Fellows & Ireland $
Structural remediation - IVY Tower
Bartlett St. roundabout
Olive - Sample overpass
Marion - Madison roundabout
Total governmental activities
Business -type activities:
Water Utility:
Pinhook WTP efficiency improvements
North Station roof restoration
Wastewater Utility:
Primary Clarifier upgrades
Sewer Overflow Sensory Network
Digester upgrade at WWTP
Southwood sewer separation
Prairie Avenue sewer separation
Eastgate Lift Station replacement
Secondary Clarifier rehab
Grit removal and influent screening
improvements
East Bank sewer separation phase 5
Total business -type activities
Total
..
487,195 $ 151,498
1,784,726
671,520
183,280
2,523,220
1,073,301
224,139
169,834
996,982
3,698,336 4,567,359
2,232,257 122,260
332,801 3,048
3,689,638 2,170,386
537,077
155,154
6,896,354
-
2,313,751
171,334
41 1,979
186,401
106,573
602,311
567,006
670,014
27,959 216,239
126,991 384,805
17,242,386 4,681,952
$ 20,940,722 $ 9,249,311
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 7 - Interfund Receivables, Payables, and Transfers
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 at December 31, 2014
is as follows:
Receivable Fund
Due to /from Other Funds
General Fund
Nonmajor governmental funds
Internal service funds
Payable Fund
Parks and Recreation
Water Utility
Total General Fund
Internal service funds
General Fund
Water Utility General Fund
Parks and Recreation
EDIT
Nonmajor governmental funds
Wastewater Utility
Internal service funds
Nonmajor enterprise funds
Total Water Utility
Wastewater Utility
Water Utility
67
Total
Amount
$ 44
104
8,320
3,076
497
1,956
1,577
860
1,406
17,692
4,705
$ 33,414
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 7 - Interfund Receivables, Payables, and Transfers (Continued)
Receivable Fund
Payable Fund
Advances from /to Other Funds
General Fund Nonmajor governmental funds $
COIT
TIF Airport
Nonmajor governmental funds
Nonmajor governmental funds
Nonmajor enterprise funds
TIF Airport
Nonmajor governmental funds
Total nonmajor
governmental
funds
Total
Amount
558,304
2,027,973
1,472,130
500,000
5,627,495
6,127,495
$ 10,185,902
Specific purposes of the advances are as follows: the General Fund advanced funds to
the Football Hall of Fame to cover operating expenses. The COIT Fund advanced funds
to the Urban Development Action Grant Fund for community development projects.
The Airport TIF advanced funds for the Blackthorn Golf Course debt services payments.
Major Moves advanced funds to the Douglas Road and Northeast Residential TIFs for
project costs incurred to construct roads and a parking garage.
C:f:3
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 7 - Interfund Receivables, Payables, and Transfers (Continued)
Interfund transfers reported in the fund financial statements are comprised of the
following:
Receiving Fund
Paying Fund
Amount
General Fund
Nonmajor governmental funds $
1,000,000
Water Utility
1,31 1,242
Wastewater Utility
2,360,180
Total General Fund
4,671,422
Parks and Recreation
Water Utility
260,442
Wastewater Utility
468,947
Total Parks and
Recreation
729,389
TIF Airport
Nonmajor governmental funds
25,415
Nonmajor governmental funds
General Fund
98,544
COIT
2,024,446
EDIT
4,185,122
Parks and Recreation
96,819
TIF Airport
1,359,529
Nonmajor governmental funds
5,155,869
Water Utility
47,164
Wastewater Utility
85,205
Total nonmajor
governmental
funds
13,052,698
Nonmajor enterprise funds
TIF Airport
269,985
EDIT
2,306,560
Total nonmajor
enterprise funds $
2,576,545
M
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 7 - Interfund Receivables, Payables, and Transfers (Continued)
The City typically uses transfers to fund ongoing operating subsidies. Specific purposes
of the transfers are as follows: The Public Safety LOIT and Emergency Medical Services
Funds transferred funds to the General Fund for the payment of police and fire and EMS
personnel. The Water and Wastewater Utility Funds transferred PILOT funds to the
General, Parks and Recreation, Redevelopment Bond Debt Service - Airport Taxable, and
Cumulative Capital Development Funds for general use. The COIT, EDIT, TIF Airport,
TIF Downtown, Cumulative Capital Improvement, and TIF Northeast Residential Funds
transferred funds to the Redevelopment Authority and South Bend Building Corporation
Debt Services Funds for debt service payments. The COIT and EDIT Funds transferred
funds to the Motor Vehicle Highway Fund for general operations as well as for the curb
and sidewalk improvements. The EDIT Fund transferred funds to the DCI Operating
Fund for salaries and wages relating to community investment initiatives. The Leaf
Collection and Removal Fund transferred funds collected from customers for leaf
collection to the Motor Vehicle Highway Fund to cover supervisory personnel in charge
of the Leaf Collection and Removal program. The Parks and Recreation Fund
transferred funds collected for park programs to the Park Nonreverting Capital Fund.
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 for these leases were
$265,962. The following is a schedule by years of future minimum rental payments as of
December 31, 2014:
Years Ending
December 31 Amount
2015
$ 184,937
2016
152,015
2017
93,250
2018
62,671
2019
26,671
Total $ 519,544
Fill
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 8 - Leases (Continued)
Capital Leases - The City has entered into various capital leases for 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, 2014 are as
follows:
Years Ending
December 31
Governmental Business -type
Activities Activities
2015
$ 2,714,483 $
1,080,318
2016
2,250,471
994,820
2017
1,507,350
91 1,778
2018
1,039,066
347,378
2019
557,086
76,675
2020 -2024
1,000,000
-
2025 -2029
200,000
-
Total minimum lease payments
9,268,456
3,410,969
Less amount representing
interest
787,081
103,167
Present value
$ 8,481,375 $
3,307,802
Assets acquired through capital leases still in effect are as follows:
Buildings
Improvements other than buildings
Machinery and equipment
Total
Accumulated depreciation
Net
1�
Governmental Business -type
Activities Activities
$ 4,1 15,612 $ -
1,458,939 -
8,627,051 4,493,630
14,201,602 4,493,630
(5,441,750) (885,303)
$ 8,759,852 $ 3,608,327
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 9 - Long -term Debt
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 to pay debt service. Debt activity is as follows:
Description
Amount Outstanding
Governmental Activities (Continued)
Mortgage Bonds:
2010 Public Works Service Center Refunding
Interest rates: 3.0% to 5.0%
2,657,697
Original issue: $5,327,775
Principal installments: $525,000 to $615,000
Maturity: February 1, 2021
$ 3,385,220
2012 New Fire Station /Police Renovations Refunding
Interest rates: 2.1 % to 5.0%
3,010,000
Original issue: $13,985,000
Principal installments: $545,000 to $770,000
Maturity: February 1, 2023
11,245,000
2013 Building Corp EMS Fire Station/Tower Bonds
Interest rates: 3.0% to 4.2%
8,535,000
Original issue: $5,580,000
Principal installments: $215,000 to $235,000
Maturity: February 1, 2033
5,580,000
Subtotal
20,210,220
Revenue Bonds (Continued):
2014 St. Joseph County PSAP (EDIT) Revenue Bonds
Interest rates: 2.0% to 3.625%
Original issue: $9,155,000; City's portion (29.03 %) _ $2,657,697
Principal installments: $12,799 to $16,611
Maturity: December 31, 2034
2,657,697
2014 TJX Special Taxing District Refunding
Interest rates: 3.0% to 4.75%
Original issue: $3,440,000
Principal installments: $295,000 to $500,000
Maturity: January 1, 2022
3,010,000
2011 Airport TIF Refunding
Interest rates: 4.0% to 5.2%
Original issue: $14,420,000
Principal installments: $254,036 to $530,000
Maturity: February 1, 2025
8,535,000
2011 Downtown TIF Refunding
Interest rates: 4.0% to 5.2%
Original issue: $19,795,000
Principal installments: $260,000 to $935,000
Maturity: February 1, 2025
14,965,000
72
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 9 - Long -term Debt (Continued)
Description
Governmental Activities (Continued)
Revenue Bonds (Continued):
2005 Southside TIF (Erskine Village) Bond
Interest rates: 6.1 % to 6.75%
Original issue: $5,485,000
Principal installments: $165,000 $465,000
Maturity: February 1, 2027
2008 Eddy Street Commons Improvements
Interest rates: 4.0% to 6.0%
Original issue: $36,000,000
Principal installments: $145,000 to $1,420,000
Maturity: February 15, 2033
2013 Century Center Improvements Refunding
Interest rates: 4.0% to 5.63%
Original issue: $4,655,000
Principal installments: $155,000 to $375,000
Maturity: May 1, 2028
2009 Morris Performing Arts Center Refinancing Bonds
Interest rates 3.0% to 4.0%
Original issue: $7,210,000
Principal installments: $400,000 to $515,000
Maturity: February 1, 2017
2011 Hall of Fame Refinancing Bonds
Interest rates: .8% to 3.65%
Original issue: $7,580,000
Principal installments: $550,000 to $615,000
Maturity: February 1, 2018
2011 Century Center Refinancing Bonds
Interest rates: 2.0% to 3.0%
Original issue: $2,980,000
Principal installments: $215,000 to $260,000
Maturity: February 1, 2018
2006 CEDIT Refinancing Bonds
Interest rates: 3.75% to 4.0%
Original issue: $7,440,000
Principal installments: $310,000 to $430,000
Maturity: February 1, 2017
2010 Professional Sports /Convention Development Revenue Bonds
(Coveleski Stadium)
Interest rates: 1.75% to 5.2%
Original issue: $4,980,000
Principal installments: $580,000 to $670,000
Maturity: January 5, 2019
Subtotal
Total governmental activity debt
73
Amount
$ 4,255,000
33,020,000
3,750,000
2,460,000
4,160,000
1,630,000
2,055,000
2,915,000
83,412,697
$ 103,622,917
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 9 - Long -term Debt (Continued)
Description Amount Outstanding
Business -type Activities (Continued)
Mortgage Bonds:
2010 Public Works Service Center Refunding
Interest rates: 3.0% to 5.0%
Original issue: $747,225
Principal installments: $525,000 to $615,000
Maturity: February 1, 2021 $ 474,780
Revenue Bonds (Continued):
2006 Water Works Improvement Bonds
Interest rates: 4.25% to 4.5%
Original issue: $4,710,000
Principal installments: $170,000 to $350,000
Maturity: January 1, 2027
$ 3,300,000
2009 Water Works Improvement Bonds
Interest rates: 3.8% to 5.89%
Original issue: $5,380,000
Principal installments: $195,000 to $455,000
Maturity: January 1, 2030
4,775,000
2012 Water Works Improvement Bond
Interest rate: 2.0%
Original issue: $5,975,000
Principal installments: $335,000 to $425,000
Maturity: January 1, 2023
3,100,000
2012B Water Works Improvement Bonds
Interest rates: 2.0% to 3.7%
Original issue: $8,300,000
Principal installments: $340,000 to $540,000
Maturity: January 1, 2033
7,620,000
2006 Sewage Works Improvement Bonds
Interest rates: 3.6% to 4.625%
Original issue: $7,630,000
Principal installments: $295,000 to $630,000
Maturity: December 1, 2026
5,740,000
2007A Sewage Works Improvement Bonds
Interest rates: 4.0% to 4.5%
Original issue: $16,600,000
Principal installments: $585,000 to $1,225,000
Maturity: December 1, 2027
12,320,000
2007B Sewage Works Improvement Bonds
Interest rates: 4.0% to 4.5%
Original issue: $16,515,000
Principal installments: $580,000 to $1,230,000
Maturity: December 1, 2027
12,280,000
2010 Sewage Works Revenue Bonds
Interest rates: 2.0% to 4.5%
Original issue: $9,345,000
Principal installments: $365,000 to $665,000
Maturity: December 1, 2030
7,905,000
74
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 9 - Long -term Debt (Continued)
Description
Business -type Activities (Continued)
Revenue Bonds (Continued):
2011 Sewage Works Revenue
Interest rates: 3.0% to 4.0%
Original issue: $21,500,000
Principal installments: $365,000 to $665,000
Maturity: December 1, 2031
2012 Sewage Works Revenue
Interest rates: 2.0% to 2.75%
Original issue: $25,000,000
Principal installments: $1,105,000 to $1,650,000
Maturity: December 1, 2032
2013A Sewage Works Revenue
Interest rate: 1.94%
Original issue: $14,765,000
Principal installments: $1,065,000 to $715,000
Maturity: December 11, 2024
Subtotal
Total business -type activity debt
Amount
$ 19,040,000
22,965,000
11,855,000
110,900,000
$ 111,374,780
Excluded from the governmental activities amounts outstanding are total unamortized
premiums of $1,121,328 and $1,449,815 related to the mortgage bonds and revenue
bonds, respectively.
Excluded from the business -type activities amounts outstanding are total unamortized
premiums of $5,824 and $309,874 related to the mortgage bonds and revenue bonds,
respectively.
Governmental Activities
Mortgage bonds
Revenue bond
Total bonds payable
Notes and loans payable
Capital leases
Subtotal
Accumulated compensated
absences
Net pension obligation
Net OPEB obligation
Total governmental
activities
Due Within
Beginning Balance Additions Reductions Ending Balance One Year
$ 23,079,781 $ - $ 1,748,233 $ 21,331,548 $ 1,852,965
90,172,826 6,097,697 11,408,011 84,862,512 7,953,378
113,252,607
3,030,554
8,777,238
125,060,399
6,097,697 13,156,244 106,194,060 9,806,343
500,000 1,913,063 1,617,491 953,636
1,839,208 2,135,071 8,481,375 2,505,128
8,436,905 17,204,378 116,292,926 13,265,107
5,184,912 3,1 14,768 3,823,606 4,476,074 3,1 14,768
60,298,102 - 40,092 60,258,010 -
8,300,677 2,542,733 800,105 10,043,305
$ 198,844,090 $ 14,094,406 $ 21,868,181 $ 191,070,315 $ 16,379,875
75
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 9 - Long -term Debt (Continued
Compensated absences for governmental activities typically have been liquidated from
the General Fund and special revenue funds. All of the December 31, 2014 business -
type activities' compensated absences are due within one year. The net pension
obligation will be liquidated from the pension trust funds. The net OPEB obligation will
be liquidated from the General Fund.
Business -type Activities
Mortgage bonds
Revenue bonds
Total bonds payable
Capital leases payable
Notes and loans payable
Total business -type
activities
Due Within
Beginning Balance Additions Reductions Ending Balance One Year
$ 546,973 $ $ 66,369 $ 480,604 $ 67,035
118,121,963 6,912,089 111,209,874 7,080,000
118,668,936 6,978,458 111,690,478 7,147,035
3,831,933 604,081 1,128,212 3,307,802 1,032,337
4,121,010 326,346 3,794,664 335,765
$ 126,621,879 $ 604,081 $ 8,433,016 $ 118,792,944 $ 8,515,137
Total interest expense for the year was $5,360,219. Annual debt service requirements
to maturity for the above bonds and note obligations are as follows:
Current Refundings - On June 3, 2014, the South Bend Redevelopment District issued
$3,440,000 in refunding revenue bonds with an average interest rate of 2.75 percent to
currently refund the remainder of its 2002 Redevelopment Special Taxing District bonds
to take advantage of favorable interest rates and lower future debt service payments.
The net proceeds of $3,488,225 (after payment of $123,627 in issuance costs) were
used to redeem $3,482,205 in bonds. In so doing, the City saved $283,285 in debt
service costs over the remaining life of the bonds.
Revenue Bond - The City has pledged future revenues, net of operating expenses, to
repay water and wastewater utilities' bonds. Bond ordinances require monthly deposits
of a portion of user fee revenues 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.
76
Governmental Activities
Business -type Activities
Year Ending
December 31
Principal
Interest
Total
Principal
Interest
Total
2015 7
9,806,343
7 4,676,294 7
14,482,637 $
7,147,035
$ 3,815,331 $
10,962,366
2016
10,167,401
4,315,533
14,482,934
7,333,880
3,614,087
10,947,967
2017
9,573,459
3,922,232
13,495,691
7,535,725
3,401,769
10,937,494
2018
8,082,450
3,550,331
11,632,781
7,743,185
3,181,762
10,924,947
2019
7,182,893
3,210,863
10,393,756
6,605,645
2,953,421
9,559,066
2020 -2024
33,115,634
11,240,459
44,356,093
35,584,310
11,291,659
46,875,969
2025 -2029
14,296,567
5,177,694
19,474,261
29,460,000
4,766,364
34,226,364
2030 -2034
11,398,170
1,332,423
12,730,593
9,965,000
586,636
10,551,636
Total $
103,622,917
$ 37,425,829 $
141,048,746 $
111,374,780
$ 33,611,029 $
144,985,809
Current Refundings - On June 3, 2014, the South Bend Redevelopment District issued
$3,440,000 in refunding revenue bonds with an average interest rate of 2.75 percent to
currently refund the remainder of its 2002 Redevelopment Special Taxing District bonds
to take advantage of favorable interest rates and lower future debt service payments.
The net proceeds of $3,488,225 (after payment of $123,627 in issuance costs) were
used to redeem $3,482,205 in bonds. In so doing, the City saved $283,285 in debt
service costs over the remaining life of the bonds.
Revenue Bond - The City has pledged future revenues, net of operating expenses, to
repay water and wastewater utilities' bonds. Bond ordinances require monthly deposits
of a portion of user fee revenues 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.
76
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 9 - Long -term Debt (Continued)
During 2014, the Water Utility paid $2,020,614 in debt payments or approximately 14.1
percent of operating revenues. The Wastewater Utility paid $9,696,671 in debt
payments or approximately 28.5 percent of operating revenues.
The City has pledged tax incremental financing revenues to meet tax incremental
financing and Redevelopment Authority debt requirements. The City has pledged county
economic development income taxes ( CEDIT) to meet the CEDIT revenue bond debt
requirements. The City has also pledged taxes in the Professional Sports and
Convention Development (PSCD) Area to meet the PSCD revenue bonds.
Note 10 - Restricted Assets
The balances of restricted assets in the enterprise funds are composed of the following:
Cash, cash equivalents, and investments:
Bond construction fund
Depreciation fund
Debt service fund
Customer deposit fund
Bond reserve fund
Operating reserve fund
Capital outlay accounts
Cash with fiscal agent
Total restricted assets
Note 1 1 - Loss on Sale /Leaseback of Leighton Parking Garage
$ 18,605,656
6,883,096
794,139
2,984,151
8,899,657
5,498,519
1,418,663
108,787
$ 45,192,668
During 2000, the City completed construction of the Leighton Parl<ing Garage and
capitalized the cost of the garage, $1 1,439,712, in the Parking Garage Fund, an
enterprise fund. On December 1, 2000, the City sold the garage to the South Bend
Transportation Company (TRANSPO) for $3,000,000 as part of a sale /Ieasebacl<
agreement. The proceeds were receipted into the County Option Income Tax Fund.
This fund is also making the future lease payments to TRANSPO.
The present value of the lease, $1,960,044, was the new basis for the parl<ing garage.
As part of this sale /leasebacl<, the Parl<ing Garage Fund recognized a deferred loss of
$8,439,712, which is being amortized over the 15 -year life of the lease.
Note 12 - Property Held for Resale
The City's Redevelopment Commission has purchased properties in blighted areas for
redevelopment and subsequent resale. At December 31, 2014, the marl<et value of
these properties was not I<nown. These properties are recognized as assets in the funds
that purchased the property.
77
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 13 - Service Concession Agreement
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. The initial term of the contract
extends through June 30, 2016 and is renewable for two additional three -year periods.
SMG's compensation is a flat fee of $135,000 for the first year and is then adjusted by
the CPI for each successive year. There are also additional financial incentives based on
various operational goals. SMG is responsible for all operations and financial reporting.
Additionally, SMG contributed a one -time capital infusion of $575,000, to be used for
capital improvement that will be amortized over seventy -two (72) months.
Both parties retain certain rights regarding operations and contract cessation.
Note 14 - 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 to employees, retirees, and dependents; and natural
disasters.
The risks of torts; 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 have not exceeded commercial insurance
coverage for the past three years. 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 $300,000 per claim for job - related illnesses or injuries to employees (workers'
compensation) and $100,000 per claim for damage to and destruction of assets
(property damage). Two claims resulting from property damage exceeded the property
insurance self- retention amount. The first claim occurred during 2012 and the gross
claim was $215,286. In 2013, a second claim was incurred at a loss of $248,094. 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.
W
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 14 - Risk Management (Continued)
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.
One claim resulting from this risk exceeded the self- retention amount during the past
three years. The claim occurred during 2014 and the gross claim cost was $724,350. 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.
Changes in the estimated liability for the past two fiscal years were as follows:
Unpaid claims - Beginning of year
Incurred claims, including claims incurred but not reported
Claim payments
Liability Insurance Group Health
2014 2013 2014 2013
$ 2,791,134 $ 5,584,476 $ 1,207,274 $ 970,077
3,279,546 44,210 14,139,152 13,583,715
(2,131,365) (2,837,552) (14,261,167) (13,346,518)
Unpaid claims - End of year $ 3,939,315 $ 2,791,134 $ 1,085,259 $ 1,207,274
79
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 15 - Subsequent Events
On January 26, 2015, the Common Council approved the issuance of Parks and
Recreation Committee (PARC) bonds for $5.58 million to be used for improvements to
the City's parks and recreation facilities. The bonds are expected to be issued in July
2015 and are to be repaid from EDIT revenues.
On February 9, 2015, the Common Council approved the issuance, by the
Redevelopment Commission, of lease rental revenue bonds for $25 million to be used
for various public works construction projects related to the City's Smart Streets
redevelopment initiative. Lease payments to the Redevelopment Authority will be paid
from TIF revenues over 22 years which will be used for the bonds' debt service. On
March 24, 2015, the bonds were sold on the open market and garnered a premium of
$150,821 on the sale.
On March 2, 2015, the City sold Blackthorn Golf Course to a private investor for $1.655
million. After the payment to the South Bend Regional Airport Authority for its share of
the proceeds, the City received a net payment of $1,472,130 as the complete
settlement. The sale rendered two capital leases totaling $52,365 issued from the
Airport TIF fund uncollectible. These balances were written off in 2014.
On March 3, 2015, the City's Board of Public Works approved a contract worth $4.8
million for energy- saving upgrades to the Century Center, the city -owned convention
center. The contract is expected to last 18 months and will be paid from a combination
of City cash, County hotel /motel taxes, a Qualified Energy Conservation Bond, and
savings from reduced utility costs. The bond closed May 14, 2015.
On November 24, 2014, the City of South Bend submitted documents to participate in
the Municipalities Continuing Disclosure Cooperation Initiative (MCDC) with the United
States Securities and Exchange Commission. Effective January 1, 2015, the City adopted
a new bond continuing disclosure procedure.
Note 16 - Conduit Debt Obligation
From time to time, the City has issued industrial revenue bonds 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 the
property financed and are payable solely from payments received on the underlying
mortgage loans. Upon repayment of the bonds, ownership of the acquired facilities
transfers to the private sector entity served by the bond issuance. 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, 2014, there were several series of industrial revenue bonds
outstanding. The City has been unable to obtain the total outstanding principal amount
for the outstanding bonds. During 2014, the City approved no new industrial revenue
bonds.
E:1i7
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 17 - Fund Balance Constraints
The detail of the various components of fund balance is as follows:
Parks and Public Safety
Nonmajor
General Fund Recreation LOIT COIT EDIT TIF Airport
Funds
Total
Fund Balances
Nonspendable:
Inventory $ - $ 52,385 $ $ $ $
$ $
52,385
Advances to other funds 558,304 -
558,304
Property held for resale - 174,999 270,001 8,835,659
9,176,433
18,457,092
Long -term receivables - - - - -
6,297,830
6,297,830
Total 558,304 52,385 174,999 270,001 8,835,659
15,474,263
25,365,611
Restricted:
General administration - - - - -
924,544
924,544
Police and fire salaries 1,008,564
-
1,008,564
Police and fire capital -
2,268,903
2,268,903
Street maintenance
10,721,741
10,721,741
Economic development
projects 32,529,551
38,955,081
71,484,632
Parks maintenance 3,230,762 -
2,829,384
6,060,146
Palais debt service
reserve
1,734,914
1,734,914
Total 3,230,762 1,008,564 32,529,551
57,434,567
94,203,444
Committed:
General administration - - -
5,621,559
5,621,559
Police and fire capital
3,560,798
3,560,798
Street maintenance
5,627,495
5,627,495
Economic development
projects
904,663
904,663
Parks maintenance
94,929
94,929
Morris / Palais capital
604,054
604,054
Total
16,413,498
16,413,498
Assigned:
General administration 16,341,883 10,057,715
8,646,216
35,045,814
Police and fire capital - -
1,123,815
1,123,815
Street maintenance
996,127
996,127
Economic devlopment
administration
10,091
10,091
Total 16,341,883 10,057,715
10,776,249
37,175,847
Unassigned 27,029,101 - - - -
(5,700,829)
21,328,272
Total fund balance $ 27,587,405 $ 3,283,147 $ 1,008,564 $ 16,516,882 $ 10,327,716 $ 41,365,210
$ 94,397,748 $ 194,486,672
Public Safety LOIT 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. COIT and EDIT funds are assigned to
general
government primarily for debt service payments and operating expenses.
The government -wide statement of net position reports restricted net
position
for debt
service and capital outlay, which is restricted by enabling legislation.
EM
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 18 - Other Postemployment Benefits
Plan Description - The City of South Bend Retiree Healthcare Plan 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. The
plan provides for medical insurance benefits to eligible retirees and their spouses.
Indiana Code 5 -10 -8 gives the unit the authority to establish and amend the plan.
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. Rm. 1200N, South Bend, IN
46601, Ph. (574) 235 -9216.
Funding Policy - The contribution requirements of plan members for the City of South
Bend Retiree Healthcare Plan 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, 2014, the City contributed
$800,105 to the plan for current premiums. Police and fire members receiving benefits
contributed approximately 30 percent of the total premiums through their required
contribution of $154 per month for retiree -only coverage and $474 for retiree and
spouse coverage. General employee members receiving benefits contributed
approximately 100 percent of the total premiums through their required contribution of
$436 per month for retiree -only coverage and $1,150 for retiree and spouse coverage.
Funding Progress - For the year ended December 31, 2014, the City has estimated
the cost of providing retiree healthcare benefits through an actuarial valuation as of
January 1, 2013. The valuation computes an annual required contribution that
represents a level of funding that, if paid on an ongoing basis, is projected to cover
normal costs each year and amortize any unfunded actuarial liabilities over a period not
to exceed 30 years. This valuation's computed contribution and actual funding are
summarized as follows:
Annual required contribution (recommended)
Interest on the prior year's net OPEB obligation
Less adjustment to the annual required contribution
Annual OPEB cost
Amounts contributed:
Payments of current premiums
Advance funding
Increase in net OPEB obligation
OPEB obligation - Beginning of year
OPEB obligation - End of year
[IIN
$ 2,570,663
373,530
(401,460)
2,542,733
(800,105)
1,742,628
8,300,677
$ 10,043,305
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 18 - Other Postemployment Benefits (Continued)
The annual OPEB costs, the percentage contributed to the plan, and the net OPEB
obligation for the current and two preceding years were as follows:
Fiscal Year Ended
Annual OPEB Percentage
Cost Contributed
Net OPEB
Obligation
12/31/12 $ 1,928,572 40.1 $ 6,539,338
12/31/13 2,463,473 28.5 8,300,677
12/31/14 2,542,733 31.5 10,043,305
The funding progress of the plan as of the three most recent valuation dates is as
follows:
Actuarial Valuation Date
1/1/13
I/l/12
I /l /1I
Actuarial
Actuarial
Value of
Accrued
Assets
Liability (AAL)
(a)
(b)
Unfunded Funded Ratio
AAL (UAAL) (Percent)
(b -a) (a/b)
$ - $21,493,998 $21,493,998
- 18,649,906 18,649,906
- 17,641,023 17,641,023
Actuarial Methods and Assumptions - Actuarial valuations of an ongoing plan involve
estimates of the value of reported amounts and assumptions about the probability of
occurrence of events far into the future. Examples include assumptions about future
employment, mortality, and the healthcare cost trend. Amounts determined regarding
the funded status of the plan and the annual required contributions of the employer are
subject to continual revision as actual results are compared with past expectations and
new estimates are made about the future. The schedule of funding progress, presented
above, presents multiyear trend information about whether the actuarial value of plan
assets is increasing or decreasing over time relative to the actuarial accrued liabilities for
benefits.
Projections of benefits for financial reporting purposes are based on the substantive plan
(the plan as understood by the employer and the plan members) and include the types
of benefits provided at the time of each valuation and the historical pattern of sharing of
benefit costs between the employer and plan members to that point. The actuarial
methods and assumptions used include techniques that are designed to reduce the
effects of short -term volatility in actuarial accrued liabilities and the actuarial value of
assets, consistent with the long -term perspective of the calculations.
E19
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 18 - Other Postemployment Benefits (Continued)
In the January 1, 2013 actuarial valuation, the entry age actuarial cost method was used.
The actuarial assumptions included a 4.5 percent investment rate of return (net of
administrative expenses), which is a blended rate of the expected long -term investment
returns on plan assets and on the employer's own investments calculated based on the
funded level of the plan at the valuation date, and an annual healthcare cost trend rate of
9 percent initially, reduced by decrements to an ultimate rate of 5 percent after 10
years. Both rates included a 3 percent inflation assumption. The UAAL is being
amortized as a level percentage of projected payroll on an open basis. The remaining
amortization period at December 31, 2014 was 21 years.
Note 19 - Cost - Sharing Multiple - Employer Defined Benefit Pension Plan -
Public Employees' Retirement Fund
Plan Description - The City contributes to the Public Employees' Retirement Fund
(PERF), a cost - sharing, multiple - employer defined benefit pension plan, administered by
Indiana Public Retirement System ( INPRS). PERF, as part of the implementation of
GASB Statement No. 67, changed from an agent to a cost - sharing, multiple - employer
defined benefit plan effective July 1, 2013 based on 35 IAC 2 I -1 -1, 35 IAC 21-1-2, and
amended IC 5-10.2-2-11 (b).
The Indiana Code, Title 5, Articles 10.2 and 10.3, 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.
All full -time employees are eligible to participate in the cost - sharing, multiple - employer
defined benefit plan. State statutes (Indiana Code 5 -10.2 and 5 -10.3) provide the City
authority to contribute to the plan and govern, through the INPRS Board, most
requirements of the system. The PERF retirement benefit consists of the pension
provided by employer contributions plus an annuity provided by the member's annuity
savings account. The annuity savings account consists of member contributions, set by
state statute at 3 percent of compensation, plus the interest credited to the member's
account. Under state statute, the City may elect to make these contributions on behalf
of the member.
INPRS administers the plan and issues a publicly available financial report that includes
financial statements and required supplementary information for the plan as a whole and
for its participants. That report may be obtained by contacting:
Indiana Public Retirement System
One North Capitol, Suite 001
Indianapolis, IN 46204
Ph. (888) 526 -1687
The report can also be viewed at http: / /www.inprs.in.gov.
E:11I
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 19 - Cost - Sharing Multiple - Employer Defined Benefit Pension Plan -
Public Employees' Retirement Fund (Continued)
Funding Policy and Annual Pension Cost - The contribution requirements for plan
members of PERF are established and can be amended by the board of trustees of
INPRS. City employees participating in the plan are required to contribute 3 percent of
their annual covered salary. The City is required to contribute at an actuarially
determined rate; the rate which was contributed during calendar year 2014 was 11.20
percent of annual covered payroll.
The City's contributions to PERF for the years ended December 31, 2012, 2013, and
2014 were $3,059,647, $2,694,571, and $2,237,807, respectively, equal to the required
contributions for each year.
Note 20 - Cost - Sharing Multiple - Employer Defined Benefit Pension Plan -
1977 Police Officers' and Firefighters' Pension and Disability
Fund
Plan Description - The City contributes to 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) for all
police officers and firefighters hired after April 30, 1977.
State statute (IC 36 -8 -8 and IC 36- 8 -8.5) regulates the operations of the system,
including benefits, vesting, and requirements for contributions by employers and by
employees. Covered employees may retire at age 52 with 20 years of service. An
employee with 20 years of service may leave service, but will not receive benefits until
reaching age 52. The plan also provides for death and disability benefits.
INPRS issues a publicly available financial report that includes financial statements and
required supplementary information for the plan as a whole and for its participants.
That report may be obtained by contacting:
Indiana Public Retirement System
One North Capitol, Suite 001
Indianapolis, IN 46204
Phone (888) 526 -1687
Funding Policy - Plan members are required to contribute 6 percent of the first -class
police officers' and firefighters' salary and the City is to contribute at an actuarially
determined rate. The current rate, which has not changed since the inception of the
plan, is 19.5 percent of the first -class police officers' and firefighters' salary. The
contribution requirements of plan members and the City are established by the board of
trustees of PERF.
Annual Pension Cost - The City's contributions to the plan for the years ended
December 31, 2014, 2013, and 2012 were $4,670,394, $4,189,100, and $4,294,453,
respectively, equal to the required contributions for each year.
E:V
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 21 - Defined Benefit Pension Plan - 1925 Police Officers' Pension
Plan
Plan Administration - The City contributes to the 1925 Police Officers' Pension Plan,
which is a single - employer defined benefit pension plan. The plan is administered by the
local pension board as authorized by state statute (IC 36 -8 -6).
Plan Membership - At December 31, 2014, pension plan membership consisted of the
following:
Inactive plan members or beneficiaries currently receiving benefits
Inactive plan members entitled to but not yet receiving benefits
Active plan members
223
Total 231
The pension plan is closed to new entrants. The pension plan has not elected early
implementation of GAS13 68 and therefore the net pension obligation will be reported in
the statement of net position and not the net pension liability.
Benefits Provided - 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 plan administrator does not issue a publicly available
financial report that includes financial statements and required supplementary
information of the plan.
Contributions - Plan members are required by state statute (IC 36- 8 -6 -4) to contribute
an amount equal to six percent (6 percent) 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 obligation (NPO) 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 $6,1 1 1,865 during 2014 on
behalf of the City. The City has recognized these on- behalf payments as
intergovernmental revenue and public safety expenditures in the General Fund.
Pension Plan Investments - Policy and Rate of Return
E:�
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 21 - Defined Benefit Pension Plan - 1925 Police Officers' Pension
Plan (Continued)
Investment Policy - The 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
board's adopted asset allocation policy as of December 31, 2014:
Asset Class
Target Allocation
Cash or cash equivalents 57%
Government agency securities 43%
Rate of Return - For the year ended December 31, 2014, the annual money- weighted
rate of return on pension plan investments, net of pension plan investment expense, was
0.6 percent. The money- weighted rate of return expresses investment performance,
net of investment expense, adjusted for the changing amounts actually invested.
Net Pension Liability of the City
The City reports pension expense based on funding requirements, as directed by GASB
Statement No. 27. Beginning next year, the City will adopt GASB Statement No. 68,
which will require the measurement of pension expense as it is earned, rather than as it
is funded. The net pension liability of the City has been measured as of December 31,
2014 and is composed of the following:
Total pension liability $ 99,502,362
Plan fiduciary net position (I , 1 10,743)
City's net pension liability $ 98,391,619
Plan fiduciary net position as a percentage of the total pension
liability 1.1 %
Actuarial Assumptions - The December 31, 2014 total pension liability was
determined by an actuarial valuation as of that date. The valuation used the following
actuarial assumptions, applied to all periods included in the measurement:
Inflation 2.25%
Salary increases 2.5 % average, including inflation
Investment rate of return 2.56 % net of pension plan investment
expense, including inflation
[IIN
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 21 - Defined Benefit Pension Plan - 1925 Police Officers' Pension
Plan (Continued)
Mortality rates were based on the RP -2014 Blue Collar Set Mortality Table with
mortality improvement since 2006 using scale MP -2014 removed and projected on a
fully generational basis using the future mortality improvement scale inherent in the
mortality projection included in the Social Security Administration's 2014 Trustee
report.
Discount Rate - The discount rate used to measure the total pension liability was 2.56
percent. The discount rate decreased from the 4.31 percent used for the December 31,
2013 calculation of the net pension liability. The projection of cash flows used to
determine the discount rate considered the fact that on- behalf contributions made by
the State of Indiana are made as benefit payments become due for payment.
Projected Cash Flows
Based on those assumptions, the pension plan's fiduciary net position was 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 2.56 percent. The source of that bond rate was the Barclay's 20 -year
Municipal Bond Index as of December 31, 2014. The municipal bond rate was applied
to all remaining periods.
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. Best
estimates of arithmetic real rates of return as of December 31, 2014 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 table:
Long -term
Expected Real
Asset Class Rate of Return
Cash or cash equivalents
Government agency securities
[24
I%
2%
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 21 - Defined Benefit Pension Plan - 1925 Police Officers' Pension
Plan (Continued)
Sensitivity of the Net Pension Liability to Changes in the Discount Rate - The
following presents the net pension liability of the City, calculated using the discount rate
of 2.56 percent, as well as what the City's net pension liability would be if it were
calculated using a discount rate that is one percentage point lower (1.56 percent) or one
percentage point higher (3.56 percent) than the current rate:
I % Decrease Current Discount I % Increase
(1.56 %) Rate (2.56 %) (3.56 %)
Net pension liability of the City $ 1 1 1,540,552 $ 98,391,619 $ 89,493,517
Pension Cost
The pension plan does not issue a separate financial report.
Annual Pension Cost and Net Pension Obligation
Annual required contribution $ 6,432,800
Interest on net pension obligation 2,036,484
Adjustment to annual required contribution (2,434,700)
Annual pension cost (APC) 6,034,584
Contributions made (6,1 16,195)
Decrease in net pension obligation (81,611)
Net pension obligation - Beginning of year 34,633,143
Net pension obligation - End of year
$ 34,551,532
Annual Pension Cost - For the year ended December 31, 2014, the City's annual
pension cost of $6,034,584 for the plan was less than the City's actual contribution of
$6,1 16,195. The pension cost for the three most recent years is as follows:
Fiscal Year Ended December 31
2014 2013 2012
Annual pension cost (APC) $ 6,034,584 $ 5,834,200
Percentage of APC contributed 101.4% 100.6%
Net pension obligation 34,551,532 34,633,143
1.1%
$ 6,237,800
108.0%
34,667,265
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 21 - Defined Benefit Pension Plan - 1925 Police Officers' Pension
Plan (Continued)
Funding Status and Funding Progress - As of January 1, 2014, the most recent
actuarial valuation date, the plan was 1.9 percent funded. The actuarial accrued liability
for benefits was $89 million, and the actuarial value of assets was $2 million, resulting in
an unfunded actuarial accrued liability of $87 million. The covered payroll (annual
payroll to active employees covered by the plan) was $441,000, and the ratio of the
unfunded actuarial accrued liability to the covered payroll was 19,844 percent.
The schedule of funding progress, presented as RSI following the notes to the financial
statements, presents multiyear trend information about whether the actuarial value of
plan assets is increasing or decreasing over time relative to the actuarial accrued liability
of benefits.
Actuarial Methods and Assumptions - The annual required contribution was
determined as part of an actuarial valuation at January 1, 2014, using the entry age
actuarial cost method. Significant actuarial assumptions used include (a) a 4.31
investment rate of return, (b) projected salary increases of 3.25 percent per year, and
(c) cost of living adjustments of 2.25 percent (converted) and 3.25 percent (non -
converted). Both (a) and (b) include an inflation component of 3.0 percent. The actuarial
value of assets was determined using techniques that smooth the effects of short -term
volatility over a four -year period. The unfunded actuarial liability is being amortized as a
level percentage of payroll on a closed basis. The remaining amortization period is 30
years.
Note 22 - Defined Benefit Pension Plan - 1937 Firefighters' Pension Plan
Plan Administration - The City contributes to the 1937 Firefighters' Pension Plan,
which is a single - employer defined benefit pension plan. The plan is administered by the
local pension board as authorized by state statute (IC 36 -8 -7).
Plan Membership - At December 31, 2014, pension plan membership consisted of the
following:
Inactive plan members or beneficiaries currently receiving benefits
Inactive plan members entitled to but not yet receiving benefits
Active plan members
Vh
7
Total 194
The pension plan is closed to new entrants. The pension plan has not elected early
implementation of GASB 68 and therefore the net pension obligation will be reported in
the statement of net position and not the net pension liability.
Viol
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 22 - Defined Benefit Pension Plan - 1937 Firefighters' Pension Plan
(Continued)
Benefits Provided - 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 plan administrator does not issue a publicly available
financial report that includes financial statements and required supplementary
information of the plan.
Contributions - Plan members are required by state statute (IC 36- 8 -7 -8) to contribute
an amount equal to 6 percent of the salary of a first -class fireman. 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 obligation (NPO) 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 $5,129,098 during 2014 on
behalf of the City. The City has recognized these on- behalf payments as
intergovernmental revenue and public safety expenditures in the General Fund.
Pension Plan Investments - Policy and Rate of Return
Investment Policy - The 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
Board's adopted asset allocation policy as of December 31, 2014:
Asset Class
Target Allocation
Cash or cash equivalents 57%
Government agency securities 43%
Rate of Return - For the year ended December 31, 2014, the annual money- weighted
rate of return on pension plan investments, net of pension plan investment expense, was
0.6 percent. The money- weighted rate of return expresses investment performance,
net of investment expense, adjusted for the changing amounts actually invested.
VII
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 22 - Defined Benefit Pension Plan - 1937 Firefighters' Pension Plan
(Continued)
Net Pension Liability of the City
The City reports pension expense based on funding requirements, as directed by GASB
27. Beginning next year, the City will adopt GASB 68, which will require the
measurement of pension expense as it is earned, rather than as it is funded. The net
pension liability of the City has been measured as of December 31, 2014 and is
composed of the following:
The components of the net pension liability of the City at December 31, 2014 were as
follows:
Total pension liability $ 83,390,271
Plan fiduciary net position (639,081)
City's net pension liability $ 82,751,190
Plan fiduciary net position as a percentage of the total pension
liability 0.8%
Actuarial Assumptions - The December 31, 2014 total pension liability was
determined by an actuarial valuation as of that date. The valuation used the following
actuarial assumptions, applied to all periods included in the measurement:
Inflation 2.25%
Salary increases 2.50 % average, including inflation
Investment rate of return 2.56 % net of pension plan investment
expense, including inflation
Mortality rates were based on the RP -2014 Blue Collar Set Mortality Table with
mortality improvement since 2006 using scale MP -2014 removed and projected on a
fully generational basis using the future mortality improvement scale inherent in the
mortality projection included in the Social Security Administration's 2014 Trustee
report.
Discount Rate - The discount rate used to measure the total pension liability was 2.56
percent. The discount rate decreased from the 4.31 percent used for the December 31,
2013 calculation of the net pension liability. The projection of cash flows used to
determine the discount rate considered the fact that on- behalf contributions made by
the State of Indiana are made as benefit payments become due for payment.
ION
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 22 - Defined Benefit Pension Plan - 1937 Firefighters' Pension Plan
(Continued)
Projected Cash Flows
Based on those assumptions, the pension plan's fiduciary net position was 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 2.56 percent. The source of that bond rate was the Barclay's 20 -year
Municipal Bond Index as of December 31, 2014. The municipal bond rate was applied
to all remaining periods.
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. Best
estimates of arithmetic real rates of return as of December 31, 2014 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 table.
Long -term
Expected Real
Asset class Rate of Return
Cash or cash equivalents I %
Government agency securities 2%
Sensitivity of the Net Pension Liability to Changes in the Discount Rate - The
following presents the net pension liability of the City, calculated using the discount rate
of 2.56 percent, as well as what the City's net pension liability would be if it were
calculated using a discount rate that is one percentage point lower (1.56 percent) or one
percentage point higher (3.56 percent) than the current rate:
I % Decrease Current Discount I % Increase
(1.56 %) Rate (2.56 %) (3.56 %)
Net pension liability of the City $ 93,382,932 $ 82,751,190 $ 75,060,441
Pension Cost
The pension plan does not issue a separate financial report.
93
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 22 - Defined Benefit Pension Plan - 1937 Firefighters' Pension Plan
(Continued)
Annual Pension Cost and Net Pension Obligation
Annual required contribution $ 5,436,400
Interest on net pension obligation 1,539,900
Adjustment to annual required contribution (1,804,200)
Annual pension cost (APC) 5,172,100
Contributions made (5,130,581)
Increase in net pension obligation 41,519
Net pension obligation - Beginning of year 25,664,959
Net pension obligation - End of year $ 25,706,478
Annual Pension Cost - For the year ended December 31, 2014, the City's annual
pension cost of $5,172,100 for the plan was greater than the City's actual contribution of
$5,130,581. The pension cost for the three most recent years is as follows:
Fiscal Year Ended December 31
2014 2013 2012
Annual pension cost (APC) $ 5,172,100 $ 4,957,600 $ 5,239,700
Percentage of APC contributed 99.2% 100.6% 100.0%
Net pension obligation $ 25,706,478 $ 25,664,959 $ 25,743,816
Funding Status and Funding Progress - As of January 1, 2014, the most recent
actuarial valuation date, the plan was 1.2 percent funded. The actuarial accrued liability
for benefits was $76 million, and the actuarial value of assets was $925,000, resulting in
an unfunded actuarial accrued liability of $75 million. The covered payroll (annual
payroll to active employees covered by the plan) was $329,000, and the ratio of the
unfunded actuarial accrued liability to the covered payroll was 23,039 percent.
The schedule of funding progress, presented as RSI following the notes to the financial
statements, presents multiyear trend information about whether the actuarial value of
plan assets is increasing or decreasing over time relative to the actuarial accrued liability
of benefits.
M,I
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 22 - Defined Benefit Pension Plan - 1937 Firefighters' Pension Plan
(Continued)
Actuarial Methods and Assumptions - The annual required contribution was
determined as part of an actuarial valuation at January 1, 2014, using the entry age
actuarial cost method. Significant actuarial assumptions used include (a) a 4.31
investment rate of return, (b) projected salary increases of 3.25 percent per year, and
(c) cost of living adjustments of 2.25 percent (converted) and 3.25 percent (non -
converted). Both (a) and (b) include an inflation component of 3 percent. The actuarial
value of assets was determined using techniques that smooth the effects of short -term
volatility over a four -year period. The unfunded actuarial liability is being amortized as a
level percentage of payroll on a closed basis. The remaining amortization period is 30
years.
Note 23 - Pension Trust Funds
The following are condensed financial statements for the individual pension plans:
Note 24 - Change in Accounting
During the current year, the City adopted GASB Statement Number 67, Financial
Reporting for Pension Plans. This statement required changes to the actuarial valuations
resulting in a different measurement of the liability of the employer to plan members for
benefits provided through the pension plan. As a result, the disclosures within the single
employer pension footnotes have changed considerably along with the related schedules
in the required supplementary information
95
1937
1925 Police
Firefighters'
Pension
Pension
Total
Statement of Net Position
Cash and investments
$
1,109,579
$ 638,441
$ 1,748,020
Other assets
1,262
909
2,171
Liabilities
98
269
367
Net position
$
1,1 10,743
$ 639,081
$ 1,749,824
Statement of Changes in Net Position:
Investment income
$
3,759
$ 1,963
$ 5,722
Contributions
6,1 16,194
5,130,582
11,246,776
Benefit payments
6,705,815
5,407,429
12,1 13,244
Other deductions
10,957
10,920
21,877
Net change in net position
$
(596,819)
$ (285,804)
$ (882,623)
Note 24 - Change in Accounting
During the current year, the City adopted GASB Statement Number 67, Financial
Reporting for Pension Plans. This statement required changes to the actuarial valuations
resulting in a different measurement of the liability of the employer to plan members for
benefits provided through the pension plan. As a result, the disclosures within the single
employer pension footnotes have changed considerably along with the related schedules
in the required supplementary information
95
City of South Bend, Indiana
Notes to Financial Statements
December 31, 2014
Note 25 - Upcoming Accounting Pronouncements
In June 2012, the GASB issued GASB Statement No. 68, Accounting and Financial
Reporting for Pensions. Statement No. 68 requires governments providing defined
benefit pensions to recognize their unfunded pension benefit obligation as a liability for
the first time, and to more comprehensively and comparably measure the annual costs
of pension benefits. This net pension liability that will be recorded on the government -
wide, proprietary and discretely presented component units statements will be
computed differently than the current unfunded actuarial accrued liability, using specific
parameters set forth by the GASB. The Statement also enhances accountability and
transparency through revised note disclosures and required supplementary information
(RSI). The City is currently evaluating the impact this standard will have on the financial
statements when adopted. The provisions of this Statement are effective for financial
statements for the year ending December 31, 2015.
In February 2015, the Governmental Accounting Standards Board issued GASB
Statement No. 72, Fair Value Measurement and Application. The requirements of this
Statement will enhance comparability of financial statements among governments by
requiring measurement of certain assets and liabilities at fair value using a consistent and
more detailed definition of fair value and acceptable valuation techniques. This
Statement also will enhance fair value application guidance and related disclosures in
order to provide information to financial statement users about the impact of fair value
measurements on a government's financial position. GASB Statement No. 72 is
required to be adopted for years beginning after June 15, 2015. The City is currently
evaluating the impact this standard will have on the financial statements when adopted,
during the City's 2016 fiscal year.
Note 26 - Reporting Change - Prior Period Adjustment
The financial statements for the year ended December 31, 2013 have been restated in
order to account for a change in accounting related to the Public Employees' Retirement
Fund (PERF). The PERF is now classified as a cost - sharing multiple - employer pension
plan. The effect of this correction was to remove the $2,960,204 net pension obligation
related to the PERF from the governmental activities statement of net position.
The effect of this change is as follows:
Governmental
Activities
Net position - December 31, 2013 - As previously reported $ 286,593,845
Adjustment to remove PERF net pension obligation 2,960,204
Net position - December 31, 2013 - As restated $ 289,554,049
V11
Required Supplementary Information
VA
City of South Bend, Indiana
Required Supplementary Information
1925 Police Officers' Pension Plan
Schedule of Funding Progress
Year Ended December 31, 2014
The schedule of funding progress as determined by an actuarial valuation used for purposes of
determining the annual required contribution is as follows:
Actuarial
Valuation Date
Actuarial
Actuarial
UAAL as a
Value of
Accrued Unfunded Funded Ratio
Covered Percentage of
Assets
Liability (AAL) AAL (UAAL) (Percent)
Payroll Covered
(a)
(b) (b -a) (a/b)
(c) Payroll
I/l/09
$ 2,549,705
$80,233,300
$77,683,595
3.2
$ 611 ,000
1 2,714.2
/ l / 10
2,809,527
86,097,800
83,288,273
3.3
569,500
14,624.8
/l /11
2,367,050
89,947,300
87,580,250
2.6
542,900
16,131.9
1/1/12
2,1 66,759
84,884,700
82,71 7,941
2.6
421 ,800
19,610.7
I/l/13
2,31 0,522
78,787,400
76,476,878
2.9
430,000
1 7,785.3
1/1/14
1 ,707,563
89,257,600
87,550,037
1.9
441 ,200
1 9,843.6
M
City of South Bend
Required Supplementary Information
1925 Police Officers' Pension Plan
Annual money- weighted
rate of return, net of
investment expense
Information is presented for the year available.
..
Schedule of Investment Returns
Last Fiscal Year
2014
0.6%
City of South Bend
Required Supplementary Information
1925 Police Officers' Pension Plan
Schedule of Contributions
Last Ten Fiscal Years
Notes to Schedule of City Contributions
Actuarial valuation information relative to the determination of contributions:
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
Actuarially determined contribution
$ 6,432,800
$ 6,633,200
$ 6,986,200
$ 7,317,800
$ 6,673,100
$ 5,995,700
$ 6,421,500
$ 6,722,800
$ 6,255,300
$ 6,135,100
Contributions in relation to the actuarially
RP -2014 Total Data Set Mortality Tables with mortality improvement since 2006 using scale MP -2014 removed
and projected on a fully generational basis using the future mortality improvement scale inherent in the mortality
projection included in the Social Security Administration's 2014 Trustee Report
Other information
Cost of living increases of 2.50% per year in retirement for non - converted and 2.00% per year in retirement for
converted
determined contribution
6,1 16,195
5,837,216
6,776,614
6,512,842
5,805,597
6,355,442
5,072,985
4,773,188
6,255,300
4,294,570
Contribution Deficiency (Excess)
$ 316,605
$ 795,984
$ 209,586
$ 804,958
$ 867,503
$ (359,742)
$ 1,348,515
$ 1,949,612
$ -
$ 1,840,530
Covered Employee Payroll
$ 441,200
$ 430,000
$ 421,800
$ 542,900
$ 569,500
$ 611,000
$ 652,000
$ 350,667
$ 531,733
$ 1,048,933
Contributions as a Percentage of
Covered Employee Payroll
1,386.3 %
1,357.5 %
1,606.6%
1,199.6%
1,019.4%
1,040.2%
778.1 %
1,361.2 %
1,176.4%
409.4%
Notes to Schedule of City Contributions
Actuarial valuation information relative to the determination of contributions:
Valuation date
December 31, 2014
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
2.25% per year
Salary increases
2.50% per year
Investment rate of return
2.56% 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
RP -2014 Total Data Set Mortality Tables with mortality improvement since 2006 using scale MP -2014 removed
and projected on a fully generational basis using the future mortality improvement scale inherent in the mortality
projection included in the Social Security Administration's 2014 Trustee Report
Other information
Cost of living increases of 2.50% per year in retirement for non - converted and 2.00% per year in retirement for
converted
11
City of South Bend, Indiana
Required Supplementary Information
1925 Police Officers' Pension Plan
Schedule of Changes in the City Net Pension Liability and
Related Ratios
Last Fiscal Year
Total Pension Liability
Service cost
Interest
Changes in assumptions
Projected benefit payments
Net Change in Total Pension Liability
Total Pension Liability - Beginning of year
Total Pension Liability - End of year
Plan Fiduciary Net Position
Contributions - Other
Contributions - Non - employer Entity
Net investment income
Administrative expenses
Benefit payments, including refunds
Net Change in Plan Fiduciary Net Position
Plan Fiduciary Net Position - Beginning of year
Plan Fiduciary Net Position - End of year
City's Net Pension Liability - Ending
Plan Fiduciary Net Position as a % of Total Pension Liability
Covered Employee Payroll
City's Net Pension Liability as a % of Covered Employee Payroll
Information is presented for the year available.
1[d
As of
December 31,
2014
$ 157,965
3,721,864
12,487,771
(6,122,870)
10,244,730
89,257,632
$ 99,502,362
$ 4,329
6,1 1 1,865
3,759
(10,957)
(6,705,815)
(596,819)
1,707,562
$ 1,1 10,743
$ 98,391,619
1.12%
$ 441,200
22,300.9 %
City of South Bend, Indiana
Required Supplementary Information
1937 Firefighters' Pension Plan
Schedule of Funding Progress
Year Ended December 31, 2014
The schedule of funding progress as determined by an actuarial valuation used for purposes of
determining the annual required
contribution
is as follows:
Actuarial
Actuarial
UAAL as a
Value of
Accrued
Unfunded Funded
Ratio
Covered
Percentage of
Actuarial
Assets
Liability (AAL)
AAL (UAAL)
(Percent)
Payroll
Covered
Valuation Date
(a)
(b)
(b -a)
(a /b)
(c)
Payroll
I/l/09
$ 2,285,165
$70,369,900
$68,084,735
3.2
$ 474,450
1 4,350.2
1 /1 /10
2,162,207
74,950,900
72,788,693
2.9
429,500
16,947.3
I / 1 / 1 1
1,815,026
79,076,500
77,261,474
2.3
397,100
19,456.4
1/1/12
1,718,166
70,308,800
68,590,634
2.4
365,500
18,766.2
I/l/13
1,348,330
66,057,700
64,709,370
2.0
319,300
20,266.0
1/1/14
924,885
75,706,500
74,781,615
1.2
328,600
22,757.6
[Illy]
City of South Bend
Required Supplementary Information
1937 Firefighters' Pension Plan
Schedule of Investment Returns
Annual money- weighted
rate of return, net of
investment expense
Information is presented for the year available.
103
Last Fiscal Year
2014
0.6%
City of South Bend
Required Supplementary Information
1937 Firefighters' Pension Plan
Schedule of Contributions
Last Ten Fiscal Years
Notes to Schedule of City Contributions
Actuarial valuation information relative to the determination of contributions:
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
Actuarially determined contribution
$ 5,436,400
$ 5,550,900
$ 5,787,300
$ 6,399,700
$ 5,81 1,400
$ 5,258,600
$ 4,436,200
$ 5,104,800
$ 5,369,400
$ 5,384,500
Contributions in relation to the actuarially
RP -2014 Total Data Set Mortality Tables with mortality improvement since 2006 using scale MP -2014 removed
and projected on a fully generational basis using the future mortality improvement scale inherent in the mortality
projection included in the Social Security Administration's 2014 Trustee Report
Other information
Cost of living increases of 2.50% per year in retirement for non - converted and 2.00% per year in retirement for
converted
determined contribution
5,130,581
5,051,319
5,208,570
5,503,742
5,172,146
5,416,358
4,702,372
6,738,336
5,798,952
4,146,065
Contribution Deficiency (Excess)
$ 305,819
$ 499,581
$ 578,730
$ 895,958
$ 639,254
$ (157,758)
$ (266,172)
$ (1,633,536)
$ (429,552)
$ 1,238,435
Covered Employee Payroll
$ 328,600
$ 319,300
$ 365,500
$ 397,100
$ 429,500
$ 474,450
$ 519,400
$ 1,338,200
$ 326,833
$ 648,183
Contributions as a Percentage of
Covered Employee Payroll
1,561.3 %
1,582.0%
1,425.1 %
1,386.0 %
1,204.2%
1,141.6%
905.3 %
503.5 %
1,774.3 %
639.6 %
Notes to Schedule of City Contributions
Actuarial valuation information relative to the determination of contributions:
Valuation date
December 31, 2014
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
2.25% per year
Salary increases
2.50% per year
Investment rate of return
2.56% 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
RP -2014 Total Data Set Mortality Tables with mortality improvement since 2006 using scale MP -2014 removed
and projected on a fully generational basis using the future mortality improvement scale inherent in the mortality
projection included in the Social Security Administration's 2014 Trustee Report
Other information
Cost of living increases of 2.50% per year in retirement for non - converted and 2.00% per year in retirement for
converted
104
City of South Bend, Indiana
Required Supplementary Information
1937 Firefighters' Pension Plan
Schedule of Changes in the City Net Pension Liability and
Related Ratios
Last Fiscal Year
Total Pension Liability
Service cost
Interest
Changes in assumptions
Projected benefit payments
Net Change in Total Pension Liability
Total Pension Liability - Beginning of year
Total Pension Liability - End of year
Plan Fiduciary Net Position
Contributions - Other
Contributions - Non - employer Entity
Net investment income
Administrative expenses
Benefit payments, including refunds
Net Change in Plan Fiduciary Net Position
Plan Fiduciary Net Position - Beginning of year
Plan Fiduciary Net Position - End of year
City's Net Pension Liability - Ending
Plan Fiduciary Net Position as a % of Total Pension Liability
Covered Employee Payroll
City's Net Pension Liability as a % of Covered Employee Payroll
Information is presented for the year available.
f[iV
As of
December 31,
2014
$ 1 14,297
3,155,669
9,620,657
(5,206,870)
7,683,753
75,706,518
$ 83,390,271
$ 1,484
5,129,098
1,963
(10,920)
(5,407,429)
(285,804)
924,885
$ 639,081
$ 82,751,190
0.77%
$ 328,600
25,183.0%
City of South Bend, Indiana
Required Supplementary Information
OPEB System Schedule
Year Ended December 31, 2014
The schedule of funding progress is as follows:
W
Actuarial
Actuarial
UAAL as a
Value of
Accrued
Unfunded Funded Ratio Covered
Percentage of
Actuarial
Assets
Liability (AAL)
AAL (UAAL) (Percent) Payroll
Covered
Valuation Date
(a)
(b)
(b -a) (a/b) (c)
Payroll
/ I / 1 1
$ -
$ 17,641,023
$ 17,641,023 - $ -
-
I/l/12
-
18,649,906
18,649,906 - -
1/1/13
-
21,493,998
21,493,998 - -
-
W
City of South Bend, Indiana
Revenues:
Taxes - Property
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeits
Other
Total revenues
Expenditures:
Current:
General government:
Mayor:
Personnel services
Supplies
Other services and charges
Mayor - 31 1 Call Center:
Personnel services
Supplies
Other services and charges
Capital outlay
City Clerk:
Personnel services
Supplies
Other services and charges
Capital outlay
Common Council:
Personnel services
Supplies
Other services and charges
Capital outlay
Administration/Finance:
Personnel services
Supplies
Other services and charges
Required Supplementary Information
Budgetary Comparison Schedules
General Fund and Major Special Revenue Funds
Year Ended December 31, 2014
Budgeted Amounts
Original Final
General Fund
Actual
Budgetary
Basis
Amounts
Variance
With Final
Budget
Positive
(Negative)
$ 37,399,180 $
36,638,000 $
36,708,989
$ 70,989
863,725
886,373
856,506
(29,867)
7,928,815
7,989,440
8,131,120
141,680
3,278,810
3,215,172
3,428,641
213,469
25,920
25,920
18,912
(7,008)
1,486,177
1,656,179
1,491,059
(165,120)
50,982,627
50,41 1,084
50,635,227
224,143
632,608
631,126
619,264
1 1,862
19,770
21,371
21,246
125
49,410
64,149
59,1 1 1
5,038
422,705
422,705
392,461
30,244
23,555
24,771
16,331
8,440
33,689
41,432
36,963
4,469
312,763
312,763
284,154
28,609
8,062
10,992
8,771
2,221
57,453
56,353
41,784
14,569
13,400
13,400
-
13,400
297,929
277,929
199,753
78,176
7,285
7,285
1,397
5,888
149,884
258,484
221,520
36,964
17,500
-
-
-
1,898,692
1 ,75 1 ,616
1,703,591
48,025
31,270
42,140
32,707
9,433
152,367
293,253
220,282
72,971
�1 /YA
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
General Fund and Major Special Revenue Funds (Continued)
Year Ended December 31, 2014
1[/1:]
General Fund
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
City Attorney:
Personnel services
$ 977,419 $
977,419
$ 902,017
$ 75,402
Supplies
5,083
5,083
4,235
848
Other services and charges
43,133
43,133
41,262
1,871
Human Rights:
Personnel services
272,252
272,252
267,337
4,915
Supplies
2,394
2,394
1,353
1,041
Other services and charges
78,426
78,426
67,014
1 1,412
Capital outlay
14,190
14,190
1 1,202
2,988
Neighborhood Code Enforcement:
Personnel services
-
1,750
1,247
503
Supplies
813
811
2
Other services and charges
2,662
2,522
140
Total General Government
5,521 ,239
5,627,891
5,158,335
469,556
Public Safety:
Police Department:
Personnel services
20,920,704
20,080,704
19,834,135
246,569
Supplies
362,153
804,999
737,132
67,867
Other services and charges
2,729,951
3,989,343
3,571,566
417,777
Capital outlay
-
65,158
65,158
-
Communication Center:
Personnel services
2,210,667
1,995,667
1,973,871
21,796
Supplies
4,029
4,029
1,362
2,667
Other services and charges
21,220
21,790
10,712
1 1,078
Fire Department:
Personnel services
18,803,664
19,600,048
19,597,777
2,271
Supplies
589,505
388,843
358,843
30,000
Other services and charges
1,597,058
1,660,524
1,638,720
21,804
Animal Control:
Supplies
-
1,213
579
634
Other services and charges
-
1,041
-
1,041
Total Public Safety
47,238,951
48,613,359
47,789,855
823,504
1[/1:]
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
General Fund and Major Special Revenue Funds (Continued)
Year Ended December 31, 2014
[1Yi
General Fund
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Highways and Streets:
Engineering:
Personnel services
$ 608,921 $
583,475 $
568,947
$ 14,528
Supplies
18,741
20,129
17,753
2,376
Other services and charges
488,336
522,698
5 15,95 1
6,747
Total highways and streets
1,1 15,998
1,126,302
1,102,651
23,651
Culture and recreation:
Palais Royale Ballroom:
Personnel services
251,265
251,265
229,221
22,044
Supplies
31,376
3 1,629
9,166
22,463
Other services and charges
200,769
225,816
188,363
37,453
Capital outlay
15,000
15,000
-
15,000
Morris Performing Arts Center:
Personnel services
71 1,096
71 1,096
654,025
57,071
Supplies
30,898
32,657
18,798
13,859
Other services and charges
300,176
319,774
272,854
46,920
Total culture and recreation
1,540,580
1,587,237
1,372,427
214,810
Total expenditures
55,416,768
56,954,789
55,423,268
1 ,53 1 ,521
Other financing sources - Transfers In
4,470,989
4,470,989
4,470,989
-
Net change in fund balances
36,848
(2,072,716)
(317,052)
1,755,664
Fund balances - Beginning
28,388,091
28,388,091
28,388,091
-
Fund balances - Ending
$ 28,424,939 $
26,3 15,375 $
28,071,039
$ 1,755,664
[1Yi
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
General Fund and Major Special Revenue Funds (Continued)
Year Ended December 31, 2014
IIN
Parks and Recreation Fund
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Taxes - Property
$ 7,430,898
$ 7,350,000
$ 7,365,388
$ 15,388
Intergovernmental
1,326,3 15
1,326,315
1,383,093
56,778
Charges for services
3,263,040
2,149,540
1,904,418
(245,122)
Fines and forfeits
1,800
1,800
675
(1,125)
Other
168,354
186,285
170,396
(15,889)
Total revenues
12,190,407
1 1,013,940
10,823,970
(189,970)
Expenditures:
Current:
Culture and recreation:
Personnel services
8,091 ,942
7,126,942
6,805,448
321,494
Supplies
1,509,819
1 ,53 1,319
1,238,665
292,654
Other services and charges
2,485,266
3,639,1 17
3,448,676
190,441
Capital outlay
107,000
93,000
87,867
5,133
Total expenditures
12,194,027
12,390,378
1 1,580,656
809,722
Other financing sources - Transfers out
(190,500)
(210,500)
(96,819)
1 13,681
Net change in fund balances
(194,120)
(1,586,938)
(853,505)
733,433
Fund balances - Beginning
4,255,160
4,255,160
4,255,160
-
Fund balances - Ending
$ 4,061,040
$ 2,668,222
$ 3,401,655
$ 733,433
IIN
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
General Fund and Major Special Revenue Funds (Continued)
Year Ended December 31, 2014
Revenues:
Taxes - County option income tax
Other
Total revenues
Expenditures - Personnel services
Net change in fund balances
Fund balances - Beginning
Fund balances - Ending
Public Safetv LOIT Fund
$ 6,380,029 $ 6,380,029 $ 6,380,029 $ -
1 1,000 1 1,000 4,421 (6,579)
6,391 ,029 6,391 ,029 6,384,450 (6,579)
7,214,658
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts Basis
Positive
Original Final Amounts
(Negative)
$ 6,380,029 $ 6,380,029 $ 6,380,029 $ -
1 1,000 1 1,000 4,421 (6,579)
6,391 ,029 6,391 ,029 6,384,450 (6,579)
7,214,658
7,214,658
7,123,413 91,245
(823,629)
(823,629)
(738,963) 84,666
2,032,194
2,032,194
2,032,194 -
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
General Fund and Major Special Revenue Funds (Continued)
Year Ended December 31, 2014
Expenditures:
Current:
General Government:
Supplies 1,248,000 1 ,301 ,040 1 ,081 ,057 219,983
Other services and charges 7,1 10,440 7,640,734 7,124,606 516,128
Capital outlay 297,500 1,124,01 1 1,007,098 1 16,913
Total expenditures
8,655,940
COIT Fund
9,212,761 853,024
Other financing uses -Transfers out
(1,100,000)
(1,100,000)
Variance
Net change in fund balances
(485,753)
Actual
With Final
Fund balances - Beginning
14,905,635
14,905,635
Budgetary
Budget
Fund balances - Ending
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Taxes - County option income
$ 8,645,81 1
$ 8,645,81 1
$ 8,645,81 1
$ -
Other
624,376
624,376
562,876
(61,500
Total revenues
9,270,187
9,270,187
9,208,687
(61,500)
Expenditures:
Current:
General Government:
Supplies 1,248,000 1 ,301 ,040 1 ,081 ,057 219,983
Other services and charges 7,1 10,440 7,640,734 7,124,606 516,128
Capital outlay 297,500 1,124,01 1 1,007,098 1 16,913
Total expenditures
8,655,940
10,065,785
9,212,761 853,024
Other financing uses -Transfers out
(1,100,000)
(1,100,000)
(1,100,000) -
Net change in fund balances
(485,753)
(1,895,598)
(1,104,074) 791,524
Fund balances - Beginning
14,905,635
14,905,635
14,905,635 -
Fund balances - Ending
$ 14,419,882
$ 13,010,037
$ 1 3,801 ,561 $ 791,524
111p]
City of South Bend, Indiana
Required Supplementary Information
Budgetary Comparison Schedules
General Fund and Major Special Revenue Funds (Continued)
Year Ended December 31, 2014
Budgeted Amounts
Original Final
EDIT Fund
Revenues:
Taxes - County economic development income ta), $ 8,796,821 $ 8,796,821 $ 8,796,821 $ -
Other 549,660 579,590 413,1 17 (166,473)
Total revenues
Expenditures:
General Government:
Personnnel services
Other services and charges
Capital outlay
Total expenditures
Other financing uses - Transfers out
Net change in fund balances
Fund balances - Beginning
Fund balances - Ending
9,346,481 9,376,411 9,209,938 (166,473)
500,335 500,335 395,867 104,468
2,895,577 3,652,548 3,576,396 76,152
- 275,000 189,964 85,036
3,395,912 4,427,883 4,162,227 265,656
(5,862,101) (5,862,101) (5,862,101) -
88,468 (91 3,573) (814,390) 99,183
10,842,128 10,842,1 28 10,842,128 -
$ 10,930,596 $ 9,928,555 $ 10,027,738 $ 99,183
IIK
Variance
Actual
With Final
Budgetary
Budget
Basis
Positive
Amounts
(Negative)
Revenues:
Taxes - County economic development income ta), $ 8,796,821 $ 8,796,821 $ 8,796,821 $ -
Other 549,660 579,590 413,1 17 (166,473)
Total revenues
Expenditures:
General Government:
Personnnel services
Other services and charges
Capital outlay
Total expenditures
Other financing uses - Transfers out
Net change in fund balances
Fund balances - Beginning
Fund balances - Ending
9,346,481 9,376,411 9,209,938 (166,473)
500,335 500,335 395,867 104,468
2,895,577 3,652,548 3,576,396 76,152
- 275,000 189,964 85,036
3,395,912 4,427,883 4,162,227 265,656
(5,862,101) (5,862,101) (5,862,101) -
88,468 (91 3,573) (814,390) 99,183
10,842,128 10,842,1 28 10,842,128 -
$ 10,930,596 $ 9,928,555 $ 10,027,738 $ 99,183
IIK
City of South Bend, Indiana
Required Supplementary Information
Budget /GAAP Reconciliation
General Fund and Major Special Revenue Funds
Year Ended December 31, 2014
The major differences 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).
c. Encumbrances are recorded as expenditures for budgetary purposes when purchase orders are issued.
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:
Net change in fund balances (budgetary basis)
Adjustments:
To adjust revenues for accruals
To adjust expenditures for accruals
To adjust expenditures for encumbrances
Net change in fund balances (GAAP basis)
Parks and Public Safety
General Recreation LOIT COIT EDIT
$ (317,052) $ (853,505) $ (738,963) $ (1,104,075) $ (814,390)
(50,826) (68,943) 1,391 (383,810) (172,303)
(450,525) 25,1 15 (49,083) 56,176 7,001
736,895 95,062 1,149,823 142,486
$ (81,508) $ (802,271) $ (786,655) $ (281,886) $ (837,206)
IN
City of South Bend, Indiana
Notes to Required Supplementary Information
Note I - 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 I. 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 I 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 February 15 of 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 object classification for all funds except for the General
Fund, which is by object classification within each department. The City's management cannot transfer
budgeted appropriations between object 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.
11161
City of South Bend, Indiana
Notes to Required Supplementary Information
(Continued)
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 funds:
General Fund
Special revenue funds - parks and recreation, public safety local option income tax (LOIT),
county
option income tax (COIT), economic development income tax (EDIT)
Capital projects fund - TIF Airport
Nonmajor governmental funds:
Special revenue funds - motor vehicle highway, recreation non - reverting, Studebaker Oliver
revitalization grants, economic development State grants, DCI operating, community investment
grants, police state seizure, juvenile positive assistance, law enforcement continuing education,
loss recovery, emergency telephone system, local road and street, excess welfare distribution,
human rights - federal, East Race waterway, Morris and Palais marketing, police block grants,
economic development commission, hazmat, Indiana river rescue, COPS block grant 11, regional
police academy, COPS MORE grant, federal drug enforcement, gift, urban development action
grant, leaf collection and removal, police K -9 unit, rainy day, excess levy
Debt service fund - College Football Hall of Fame debt service, redevelopment bond - airport
taxable, Coveleski bond debt service reserve, redevelopment bond - Palais Royale
Capital projects funds - emergency medical services, professional sports development, Coveleski
stadium capital, zoo endowment, park non - reverting capital, cumulative capital development,
cumulative capital improvement, Morris Performing Arts Center capital, TIF downtown, TIF
Leighton Plaza, TIF - West Washington, redevelopment general, community revitalization
enhancement district, TIF No. I - Southside development, TIF No. 3 - Southside development,
TIF - central medical service area, Football Hall of Fame capital, Major Moves, TIF - northeast
development, TIF Douglas road, TIF northeast residential, certified technology park, Palais Royale
historic preservation, airport urban enterprise zone
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 $27,125,417 in 2014 for
the funds listed above.
I. Expenditures did not exceed appropriations for any funds or any departments within the General Fund
which required legally approved budgets.
m
Other Supplementary Information
117
City of South Bend, Indiana
Other Supplementary 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.
Recreation Non - Reverting - To account for fees and related expenses from park department
activities.
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. Financing will be provided by revenues received from
charges for services, other revenue sources, and from fund transfers.
Community Investment 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.
juvenile Positive Assistance - To account for monies received from penalties paid for curfew
violations. Expenditures include Drug Abuse Resistance Education and Juvenile Aid Bureau.
Law Enforcement Continuing Education - To account for police fees collected to finance
police officers' continuing education, training, and supplies and equipment.
Loss Recovery - To account for compensatory or exemplary damage payments from third
parties arising from loss or damage to City tangible or intangible property.
Emergency Telephone System - To account for 9 -1 -1 revenues from the county as well as
state grants.
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.
Excess Welfare Distribution - To account for a special distribution from the County that can
only be spent on public safety expenditures.
Human Rights Federal - To account for expenditures to prevent discrimination and to
promote human rights. Financing is provided by federal grants.
East Race Waterway - To account for donations for the promotion and development of the
East Race Waterway.
1;�
City of South Bend, Indiana
Other Supplementary Information
Nonmajor Governmental Funds
Fund Descriptions (Continued)
Morris and Palais Marketing - To account for marketing and promotion expenditures
financed by sponsorship solicitations and donations.
Police Block Grants - To account for federal grants which provide financing for police
activities.
Economic Development Commission - To account for administrative expenditures of the
Economic Development Commission. Financing is provided by fees from businesses applying for
Economic Development Revenue Bonds.
Indiana River Rescue - To account for expenditures related to river rescue training. Financing
is provided by registration fees.
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.
COPS Block Grant II - 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 COPS MORE grant which provides financing for police
activities.
Federal Drug Enforcement - To account for expenditures for drug enforcement. Financing is
provided by distributions from the authorized federal agencies' confiscated property sale.
Gift - To account for donations, gifts, or bequeaths for purposes designated by the donor.
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.
Rainy Day - To account for unused and unencumbered funds that are transferred from a fund
that has a tax levy. Revenues in this fund also include special distributions of county option
income tax (COIT) and county economic development income tax (CEDIT).
Excess Levy - To account for monies collected from property taxes that exceed the City's
maximum property tax levy as determined by the Indiana Department of Local Government
Finance (DLGF). Proceeds in this statutory fund are used to offset future property tax levy
amounts as determined by the DLGF during the budget approval process.
f<L'i
City of South Bend, Indiana
Other Supplementary Information
Nonmajor Governmental Funds
Fund Descriptions (Continued)
Industrial Revolving - To account for the revenue and expenditures of providing special loans
to qualifying local firms. Financing was originally provided by a $5,000,000 Economic Adjustment
Assistance Grant from the U.S. Department of Commerce.
Debt Service Funds
College Football Hall of Fame Debt Service - To accumulate monies for the payment of
Redevelopment Authority bonds issued to refinance bonds issued for construction of the
College Football Hall of Fame. Financing is to be provided by an annual property tax levy.
Redevelopment Bond - Airport Taxable - To accumulate monies as a reserve for the
payment of Redevelopment Authority bonds for the airport taxable project.
Covelesid Bond Debt Service Reserve - To accumulate monies as a reserve for the payment
of the Coveleski Stadium recovery zone economic development bonds. Financing for debt
payments is to be provided by professional sports and convention development area taxes
( PSCDA) and county option income tax revenues if PSCDA revenues are insufficient.
Redevelopment Bond - Palais Royale - To accumulate monies as a reserve for the payment
of Redevelopment Authority bonds for the Palais Royale project.
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 account for debt retirement of the
Building Corporation's Mortgage Bonds. Funding is provided by transfers from other City funds.
TIF Erskine Village Debt Service - To account for Erskine Village project debt retirement of
the south side tax incremental financing (TIF) district. Financing is provided by transfers from the
TIF South Side Development Fund.
Capital Projects Funds
Emergency Medical Services - To account for purchases of necessary equipment for the Fire
Department and Emergency Medical Services Department. Financing is provided by ambulance
fees.
Professional Sports Development - To account for Hotel /Motel Tax and Professional Sports
Development Tax revenues dedicated toward the College Football Hall of Fame. Based on an
agreement with the National Football Foundation (NFF), the City pays the NFF to assist with the
operation and capital costs.
tilt
City of South Bend, Indiana
Other Supplementary Information
Nonmajor Governmental Funds
Fund Descriptions (Continued)
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.
Zoo Endowment - To account for construction projects at the City's zoo. Financing is provided
by gifts and donations.
Park Non - Reverting Capital - To account for specific revenues used to finance capital
improvements at the City parl<s.
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.
Morris Performing Art 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.
Tax Incremental Financing (TIF) - Downtown - To account for expenditures for public
improvements in the central business tax incremental district. Also, transfers are made to debt
service funds to meet debt obligations as they mature. Financing is provided by property tax
proceeds in excess of those attributable to the assessed valuation of the property in the district
before redevelopment.
Tax Incremental Financing (TIF) - Leighton Plaza - To account for expenditures for public
improvement projects in the Leighton Plaza tax incremental district. Financing is provided by
property tax proceeds in excess of those attributable to the assessed value of the property in
the district before redevelopment.
Tax Incremental Financing (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.
Redevelopment General - To account for eligible redevelopment activities in the Studebal<er
Corridor financed by proceeds from land sales or leases.
Community Revitalization Enhancement District - To account for public improvements in
the Studebal<er /Oliver Community Revitalization Enhancement District. Financing is provided by
income tax and gross retail tax increments in the district.
Tax Incremental Financing (TIF) No. I - Southside Development - To account for
expenditures for improvements in the Southside Development Tax incremental district No. I.
Financing is provided by property tax proceeds in excess of those attributable to the assessed
valuation of the property in the district before redevelopment.
V4
City of South Bend, Indiana
Other Supplementary Information
Nonmajor Governmental Funds
Fund Descriptions (Continued)
Tax Incremental Financing (TIF) No. 3 - Southside Development - To account for
expenditures for improvements in the Southside Development tax incremental district No. 3.
Financing is provided by property tax proceeds in excess of those attributable to the assessed
valuation of the property in the district before redevelopment.
Tax Incremental Financing (TIF) - Central Medical Service Area - To account for
expenditures for public improvements in the central business tax incremental district, medical
service area. Financing is provided by property tax proceeds in excess of those attributable to
the assessed valuation of the property in the district before redevelopment.
Football Hall of Fame Capital - To account for capital expenditures for the College Football
Hall of Fame. Financing was provided by a transfer from the City's Professional Sports
Development Fund. This fund also accounts for the advance from the General Fund which may
be repaid from future operating surpluses.
Major Moves - To account for state distributions used for road construction and other uses
authorized by Indiana statute.
Tax Incremental Financing (TIF) - Northeast 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.
Tax Incremental Financing (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.
Tax Incremental Financing (TIF) - Northeast 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.
Certified Technology Park - To account for expenditures related to acquisition,
improvements, construction and maintenance of public facilities, debt service, and other
permitted uses under Indiana Code 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 2 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 Leasing - To account for proceeds from capital lease- purchase agreements used to
finance major equipment needs of the City.
"I
City of South Bend, Indiana
Assets
Cash and cash equivalents
Investments
Receivables:
Taxes
Accounts
Interest
Intergovernmental
Loans
Due from other funds
Advances to other funds
Property held for resale
Restricted assets
Total assets
Liabilities
Accounts payable
Due to other governmental units
Due to other funds
Advances from other funds
Accrued liabilities and other -
Accrued payroll payable
Other current payables
Total liabilities
Special Revenue Funds
Studebaker
Oliver Economic
Motor Vehicle Recreation Revitalization Development
Highway Nonreverting Grants State Grants DCI Operating
$ 902,394 $
188,711
$ 251,698 $
76,319
$ 248,860
2,988,657
624,996
833,602
252,761
824,206
5,781
12,587
-
-
5,925
4,356
909
1,213
368
1,202
774,395
-
-
-
-
-
-
423,821
1,899
-
-
-
500,000
3,551
$ 4,675,583 $
829,102
$ 1,590,064 $
7535269
$ 1,080,193
$ 431,458 $
14,150
$ 3,375 $
12,200
$ 2,690
619
184,076
12,364
81,376
616,153
26,514
3,375
12,200
84,066
Fund Balances
Nonspendable - - 3,551 58,200
Restricted 4,059,430 802,588 1,083,138 682,869
Committed - - 500,000 - -
Assigned - 996,127
Unassigned - - - - -
Total fund balances 4,059,430 802,588 1,586,689 741,069 996,127
Total liabilities and fund balances $ 4,675,583 $ 829,102 $ 1,590,064 $ 753,269 $ 1,080,193
123
Other Supplementary Information
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
December 31, 2014
Special Revenue Funds
Law
Community Juvenile Enforcement Emergency
Investment Police State Positive Continuing Loss Recovery Telephone Local Road and Excess Welfare
Grants Seizure Assistance Education Fund System Street Distribution
$ 183,291 $ 43,422 $ 2,781 $ 222,697 $ 1,358,468 $ 7,796 $ 566,297 $ 2
607,044 143,809 9,212 737,554 4,499,135 25,819 1,875,528 6
184 -
849 209
301,820
3,155,452
$ 4,248,640 $ 187,440 $
$ 142,845 $ - $
4,354
147.199
39,102 - - -
13 1,074 6,553 36 2,729
- - - 85,628
12,006 $ 1,000,427 $ 5,864,156 $ 33,651 $ 2,530,182 $ 8
$ 19,237 $ 242,597 $ $ 9,007 $
13,768
19,237 242,597 13,768 9,007
3,390,871 - - - -
710,570 187,440 - 981,190 - 19,883 2,521,175 8
- - 12,006 - 5,621,559 - -
4,101,441 187,440 12,006 981,190 5,621,559 19,883 2,521,175 8
$ 4,248,640 $ 187,440 $ 12,006 $ 1,000,427 $ 5,864,156 $ 33,651 $ 2,530,182 $ 8
124
City of South Bend, Indiana
Assets
Cash and cash equivalents
Investments
Receivables:
Taxes
Accounts
Interest
Intergovernmental
Loans
Due from other funds
Advances to other funds
Property held for resale
Restricted assets
Total assets
Liabilities
Accounts payable
Due to other governmental units
Due to other funds
Advances from other funds
Accrued liabilities and other -
Accrued payroll payable
Other current payables
Total liabilities
Special Revenue Funds
Morris and Economic
Human Rights East Race Palais Police Block Development
Federal Waterway Marketing Grants Commission
$ 125,730 $ 1,231 $ 6,189 $ 887 $ 6,302
404,033 4,076 20,496 2,937 20,873
1,667 - -
509 6 30 4 30
$ 531,939 $ 5,313 $ 26,715 $ 3,828 $ 27,205
$ 11,769 $ - $ - $ - $
4,376
16.145
Fund Balances
Nonspendable - -
Restricted 515,794 - - 3,828 -
Committed - 5,313 26,715 - 27,205
Assigned - - -
Unassigned - - - - -
Total fund balances 515,794 5,313 26,715 3,828 27,205
Total liabilities and fund balances $ 531,939 $ 5,313 $ 26,715 $ 3,828 $ 27,205
125
Other Supplementary Information
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
December 31, 2014
Special Revenue Funds
Urban
Indiana River COPS Block Regional Police COPS MORE Federal Drug Development
Hazmat Rescue Grant II Academy Grant Enforcement Gift Action Grant
$ 9,181 $
24,418 $
22,103 $
15,819 $
24,611 $
345,543 $
31,956
$ 6,409
30,405
80,869
73,203
52,391
81,509
-
105,834
21,227
1 3,787
-
-
90
1 ,729
-
-
44
118
102
76
119
88
154
31
1,768,852
106,329 $
1375944
105,405 $
95,408 $
68,286 $
3475360 $
$ 1,796,519
$ 53,417 $
$ 20,939 $
- $
15,297 $
2,725 $
20,550 $
18,385 $
32,725
$
2,027,973
1,652
20,939 1,652 15,297 2,725 20,550 18,385 32,725 2,027,973
- - - - 1,330,650
- 80,1 1 1 - 85,779 328,975 105,219 438,202
32,478 - - 65,561 - - - -
- 103,753 -
- (2,000,306)
32,478 103,753 80,111 65,561 85,779 328,975 105,219 (231,454)
$ 53,417 $ 105,405 $ 95,408 $ 68,286 $ 106,329 $ 3475360 $ 1375944 $ 1,796,519
126
City of South Bend, Indiana
Assets
Cash and cash equivalents
Investments
Receivables:
Taxes
Accounts
Interest
Intergovernmental
Loans
Due from other funds
Advances to other funds
Property held for resale
Restricted assets
Total assets
Liabilities
Accounts payable
Due to other governmental units
Due to other funds
Advances from other funds
Accrued liabilities and other -
Accrued payroll payable
Other current payables
Total liabilities
Special Revenue Funds
Leaf Collection
Industrial
and Removal
Police K -9 Unit
Rainy Day
Excess Levy Revolving Fund
$ 226,986
$ 769
$ 2,002,106
$ 3,648 $ 2,449,292
751,759
2,547
6,630,811
- -
37,788
500
-
1,099
4
9,651
4,407,181
97,800
$ 1,017,632
$ 3,820
$ 8,642,568
$ 3,648 $ 6,954,273
1,390
1.390
Fund Balances
Nonspendable 4,474,797
Restricted 2,479,476
Committed - - - - -
Assigned 1,016,242 3,820 8,642,568 3,648
Unassigned - - - - -
Total fund balances 1,016,242 3,820 8,642,568 3,648 6,954,273
Total liabilities and fund balances $ 1,017,632 $ 3,820 $ 8,642,568 $ 3,648 $ 6,954,273
127
Other Supplementary Information
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
December 31, 2014
Special
Revenue Funds
Debt Service Funds
College
Coveleski
South Bend
Football Hall of
Redevelopment
Bond Debt
Redevelopment
Redevelopment
Building
TIF Erskine
Fame Debt
Bond - Airport
Service
Bond - Palais
Authority Debt
Corporation
Village Debt
Total
Service
Taxable
Reserve
Royale
Service
Debt Service
Service
$ 9,355,916
$ 27,623
$ 240,540
$ 116,969
$ 401,904
$ 4,139,414
$ 662,361
$ 561,108
21,705,299
54,620
796,650
387,392
1,331,073
-
-
-
-
480
-
-
-
1 19,140
-
-
-
-
31 ,576
76
1,160
564
1 ,937
7
860,023
-
-
-
-
6,901,674
1,899
500,000
3,256,803
$ 42,732,330
$ 82,799
$ 1,038,350
$ 504,925
$ 1,734,914
$ 4,139,414
$ 6625361
$ 5615115
$ 999,949
$ -
$ -
$
$ -
$ -
$
$ -
619
2,027,973
299,002
4,354
3,331,897
9,258,069 - - - - - - -
15,085,675 82,799 1,038,350 504,925 1,734,914 4,139,414 662,361 561,115
6,290,837 - - - - - - -
1 0,766,158
(2,000,306) - - - - -
39,400,433 82,799 1,038,350 504,925 1,734,914 4,139,414 662,361 561,115
$ 42,732,330 $ 82,799 $ 1,038,350 $ 504,925 $ 1,734,914 $ 4,139,414 $ 6625361 $ 5615115
:
City of South Bend, Indiana
Fund Balances
Nonspendable - -
Restricted 8,723,878 - 747,195 - -
Committed - 3,450,753 - 40,452 49,164
Assigned - - -
Unassigned - - - - -
Total fund balances 8,723,878 3,450,753 747,195 40,452 49,164
Total liabilities and fund balances $ 8,723,878 $ 3,657,318 $ 747,195 $ 40,452 $ 49,164
OVA
Debt Service
Funds
Capital Projects Funds
Emergency
Professional
Coveleski
Medical
Sports
Stadium
Zoo
Total
Services
Development
Capital
Endowment
Assets
Cash and cash equivalents
$ 6,149,919
$ 673,996
$ 138,095
$ 9,371
$ 11,389
Investments
2,569,735
2,232,220
457,358
31,036
37,720
Receivables:
Taxes
480
-
-
-
-
Accounts
-
351,127
151,076
-
-
Interest
3,744
3,248
666
45
55
Intergovernmental
-
396,727
-
-
-
Loans
-
Due from other funds
Advances to other funds
Property held for resale
Restricted assets
-
-
Total assets
$ 8,723,878
$ 3,657,318
$ 747,195
$ 40,452
$ 49,164
Liabilities
Accounts payable
$ -
$ 19,767
$ -
$ -
$ -
Due to other governmental units
186,176
Due to other funds
622
Advances from other funds
-
Accrued liabilities and other -
Accrued payroll payable
Other current payables
Total liabilities
206,565
Fund Balances
Nonspendable - -
Restricted 8,723,878 - 747,195 - -
Committed - 3,450,753 - 40,452 49,164
Assigned - - -
Unassigned - - - - -
Total fund balances 8,723,878 3,450,753 747,195 40,452 49,164
Total liabilities and fund balances $ 8,723,878 $ 3,657,318 $ 747,195 $ 40,452 $ 49,164
OVA
Other Supplementary Information
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
December 31, 2014
CaDltal Proiects Funds
Morris
Park Cumulative Cumulative Performing
Nonreverting Capital Capital Arts Center TIF Leighton TIF - West Redevelopment
Capital Development Improvement Capital TIF Downtown Plaza Washington General
$ 60,436
$
134,656
$
57,797
$
119,406
$
949,048
$
115,326
$
277,015
$
2,338
399,869
445,971
191,418
395,462
3,143,171
68,292
917,452
7,742
-
415
-
-
-
-
-
-
4,000
-
-
-
24
2,192
-
578
647
278
575
4,525
99
1,327
11
487,148
-
5,377,940
436,690
60,300
-
-
-
-
-
$ 525,183
$
581,689
$
2495493
$
5155443
$
9,961,856
$
185,909
$
1,632,484
$
10,091
$ -
$
-
$
-
$
1,268
$
20,378
$
7,471
$
-
$
-
-
-
6,112
1,268
20,378
13,583
-
-
-
-
5,674,504
-
436,690
525, 1 83
581 ,689
249,493
-
4,266,974
172,326
1,1 95,794
-
-
-
514,175
-
-
-
-
-
10,091
525,183
581,689
249,493
514,175
9,941,478
172,326
1,632,484
10,091
$ 5255183
$
5815689
$
2495493
$
5155443
$
9,961,856
$
1855909
$
1,632,484
$
10,091
130
City of South Bend, Indiana
Assets
Cash and cash equivalents
Investments
Receivables:
Taxes
Accounts
Interest
Intergovernmental
Loans
Due from other funds
Advances to other funds
Property held for resale
Restricted assets
Total assets
Liabilities
Accounts payable
Due to other governmental units
Due to other funds
Advances from other funds
Accrued liabilities and other -
Accrued payroll payable
Other current payables
Total liabilities
Capital Proiects Funds
Community
Revitalization TIF No. I - TIF No. 3 - TIF - Central
Enhancement Southside Southside Medical Service Football Hall of
District Development Development Area Fame Capital
$ 9,838 $ 1,148,438 $ 1,376,507 $ 531,566 $ 129,552
- 3,803,535 4,558,881 1,760,505 429,067
28 5,502 6,635 2,550 625
105,000
$ 114,866 $ 4,957,475 $ 5,942,023 $ 2,294,621 $ 559,244
$ - $ 485,443 $ - $ 78,971 $ 225
715
558,304
485.443 78.971 559.244
Fund Balances
Nonspendable 105,000 - - -
Restricted 9,866 4,472,032 5,942,023 2,215,650
Committed - - - -
Assigned
Unassigned - - - -
Total fund balances 114,866 4,472,032 5,942,023 2,215,650 -
Total liabilities and fund balances $ 114,866 $ 4,957,475 $ 5,942,023 $ 2,294,621 $ 5595244
131
Other Supplementary Information
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
December 31, 2014
132
Capital Projects Funds
TIF -
Certified
Palais Royale
Airport Urban
TIF Northeast
TIF Douglas
Northeast
Technology
Historic
Enterprise
Equipment
Major Moves
Development
Road
Residential
Park
Preservation
Zone
Leasing
$ 843,651
$ 1 ,055,584
$
51 ,298
$ 395,108
$ 1,1 63,096
$ 14,632
$
87,440
$
374,700
2,794,105
3,496,008
169,895
1,308,566
3,852,300
48,461
289,596
-
4,085
5,065
242
1,863
5,386
71
422
5,627,495
$ 9,269,336
$ 4,556,657
$
221,435
$ 1,705,537
$ 5,020,782
$ 63,164
$
3775458
$
3745700
$ 163,066
$ 112,956
$
-
$ -
$ -
$ -
$
-
$
71,169
886,677
4,740,818
163,066
112,956
886,677
4,740,818
71,169
3,478,775
4,443,701
5,020,782
-
-
303,531
5,627,495
-
-
63,164
377,458
-
-
-
(665,242)
(3,035,281)
-
9,106,270
4,443,701
(665,242)
(3,035,281)
5,020,782
63,164
377,458
303,531
$ 9,269,336
$ 4,556,657
$
221,435
$ 1,705,537
$ 5,020,782
$ 63,164
$
3775458
$
3745700
132
City of South Bend
Other Supplementary Information
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
December 31, 2014
Capital Projects
Total Nonmajor
Total fund balances 46,273,437 94,397,748
Total liabilities and fund balances $ 53,613,575 $ 105,069,783
133
Governmental
Total
Funds
Assets
Cash and cash equivalents
$ 9,730,283
$ 25,236,1 18
Investments
30,838,630
55,1 13,664
Receivables:
Taxes
415
895
Accounts
508,419
627,559
Interest
44,528
79,848
Intergovernmental
396,727
1,256,750
Loans
487,148
7,388,822
Due from other funds
-
1,899
Advances to other funds
5,627,495
6,127,495
Property held for resale
5,919,630
9,176,433
Restricted assets
60,300
60,300
Total assets
$ 53,613,575
$ 105,069,783
Liabilities
Accounts payable
$ 960,714
$ 1,960,663
Due to other governmental units
186,176
186,176
Due to other funds
1,337
1,956
Advances from other funds
6,185,799
8,213,772
Accrued liabilities and other -
Accrued payroll payable
-
299,002
Other current payables
6,112
10,466
Total liabilities
7,340,138
10,672,035
Fund Balances
Nonspendable
6,216,194
15,474,263
Restricted
33,625,014
57,434,567
Committed
10,122,661
16,413,498
Assigned
10,091
10,776,249
Unassigned
(3,700,523)
(5,700,829)
Total fund balances 46,273,437 94,397,748
Total liabilities and fund balances $ 53,613,575 $ 105,069,783
133
City of South Bend, Indiana
Total other financing
sources (uses) 3,232,314 - - 1,688,959
Net Change in Fund Balances 234,261 33,296 454 (89,691) 158,621
Fund Balances - Beginning of year 3,825,169 769,292 1,586,235 830,760 837,506
Fund Balances - End of year $ 4,059,430 $ 802,588 $ 1,586,689 $ 7415069 $ 996,127
134
Special Revenue Funds
Studebaker
Oliver
Economic
Motor Vehicle
Recreation
Revitalization
Development
Highway
Nonreverting
Grants
State Grants
DCI Operating
Revenue
Property taxes
$
$
$
$
$
Professional sports development taxes
-
Intergovernmental
5,709,951
347,467
Charges for services
287,742
841,232
322,244
Fines and forfeitures
-
-
-
Investment income
12,599
2,964
3,829
15,069
3,261
Rental income
-
-
-
-
-
Other revenue
137,403
107,857
-
1,956
Total revenue
6,147,695
952,053
3,829
15,069
674,928
Expenditures
Current:
General government
-
-
-
-
-
Public safety
-
Highways and streets
8,890,522
-
-
-
Community and economic development
-
-
3,375
32,750
2,205,266
Culture and recreation
918,757
-
-
-
Capital outlay
-
-
-
Debt service:
Principal
239,878
58,200
Interest on long -term debt
15,348
-
-
13,810
-
Total expenditures
9,145,748
918,757
3,375
104,760
2,205,266
Excess of Revenue Over (Under)
Expenditures
(2,998,053)
33,296
454
(89,691)
(1,530,338)
Other Financing Sources (Uses)
Debt issuance
-
-
-
Proceeds from sale of capital assets
15,732
-
Transfers in
3,216,582
1,688,959
Transfers out
-
-
Total other financing
sources (uses) 3,232,314 - - 1,688,959
Net Change in Fund Balances 234,261 33,296 454 (89,691) 158,621
Fund Balances - Beginning of year 3,825,169 769,292 1,586,235 830,760 837,506
Fund Balances - End of year $ 4,059,430 $ 802,588 $ 1,586,689 $ 7415069 $ 996,127
134
Other Supplementary Information
Combining Statement of Revenue, Expenditures, and Changes in
Fund Balances (Continued)
Nonmajor Governmental Funds
Year Ended December 31, 2014
Special Revenue Funds
Law
Community
28,876
466
Enforcement
Emergency
(195,117)
Investment
Police State
Juvenile Positive
Continuing
Loss Recovery Telephone
Local Road and
Grants
Seizure
Assistance
Education
Fund System
Street
5,621,559 $
19,883 $
2,521,175
4,183,019
-
1,016,1 1 1
-
-
112,594
-
-
425
93,292
-
-
1,893
567
41
3,518
27,740
6,280
502,379
28,309
-
19,883
38,251
4,687,291
28,876
466
229,287
27,740
1,060,642
- 2,325,109
245,030 - 195,1 17 -
- - 534,960
4,554,199 -
4,554,199 - 245,030 2,325,109 195,117 534,960
133,092 28,876 466 (15,743) (2,297,369) (195,117) 525,682
133,092
28,876
466
(15,743)
(2,297,369)
(195,117)
525,682
3,968,349
158,564
11,540
996,933
7,918,928
215,000
1,995,493
$ 4,101,441 $
187,440 $
12,006 $
981,190 $
5,621,559 $
19,883 $
2,521,175
135
City of South Bend, Indiana
Special Revenue Funds
136
Excess Welfare
Human Rights
East Race
Morris and
Police Block
Distribution
Federal
Waterway
Palais Marketing
Grants
Revenue
Property taxes
$
$
$
$
$
Professional sports development taxes
Intergovernmental
187,450
Charges for services
-
10,610
Fines and forfeitures
-
-
Investment income
5
1,801
42
94
13
Rental income
-
-
-
Otherrevenue
85,435
-
-
Total revenue
5
274,686
42
10,704
13
Expenditures
Current:
General government
-
215,389
-
-
Public safety
1,146
-
Highways and streets
-
Community and economic development
-
-
Culture and recreation
9,092
11,957
Capital outlay
-
-
Debt service:
Principal
Interest on long -term debt
-
-
Total expenditures
1,146
215,389
9,092
11,957
Excess of Revenue Over (Under)
Expenditures
(1,141)
59,297
(9,050)
(1,253)
13
Other Financing Sources (Uses)
Debt issuance
-
Proceeds from sale of capital assets
Transfers in
Transfers out
Total other financing
sources (uses)
-
-
Net Change in Fund Balances
(1,141)
59,297
(9,050)
(1,253)
13
Fund Balances - Beginning of year
1,149
456,497
14,363
27,968
3,815
Fund Balances - End of year
$ 8
$ 515,794
$ 5,313
$ 26,715
$ 3,828
136
Other Supplementary Information
Combining Statement of Revenue, Expenditures, and Changes in
Fund Balances (Continued)
Nonmajor Governmental Funds
Year Ended December 31, 2014
Special Revenue Funds
Economic
31,986
201,264
20,888
40,073
123,682
21,636
Development
201,264
Indiana River
COPS Block
Regional Police
COPS MORE
Federal Drug
Commission
Hazmat
Rescue
Grant II
Academy
Grant
Enforcement
-
975
76,921
-
13,787
40,000
-
16,025
95
76
366
87
270
397
975
-
24,055
-
12,156
68,475
95
37,918
41,341
77,008
16,295
12,553
69,450
21,636
31,986
201,264
20,888
40,073
123,682
21,636
31,986
201,264
20,888
40,073
123,682
95 16,282
9,355
(124,256)
(4,593)
(27,520)
(54,232)
95
16,282
9,355
(124,256)
(4,593)
(27,520)
(54,232)
27,110
16,196
94,398
204,367
70,154
113,299
383,207
$ 27,205 $
32,478 $
103,753 $
80,1 1 1 $
65,561 $
85,779 $
3285975
137
City of South Bend, Indiana
M
Special Revenue Funds
Urban
Development
Leaf Collection
Gift
Action Grant
and Removal Police K -9 Unit
Rainy Day
Revenue
Property taxes $
$
$ $
$
Professional sports development taxes
Intergovernmental
Charges for services
436,318
Fines and forfeitures
-
-
Investment income
436
98
3,734
7
30,453
Rental income
-
-
-
-
-
Other revenue
174,918
-
2,500
-
Total revenue
175,354
98
440,052
2,507
30,453
Expenditures
Current:
General government
143,931
-
75,434
-
-
Public safety
-
-
Highways and streets
889
Community and economic development
-
Culture and recreation
Capital outlay
-
Debt service:
Principal
67,574
Interest on long -term debt
-
4,615
Total expenditures
144,820
-
147,623
-
-
Excess of Revenue Over (Under)
Expenditures
30,534
98
292,429
2,507
30,453
Other Financing Sources (Uses)
Debt issuance
-
-
-
-
-
Proceeds from sale of capital assets
Transfers in
Transfers out
(250,000)
Total other financing
sources (uses)
-
-
(250,000)
-
-
Net Change in Fund Balances
30,534
98
42,429
2,507
30,453
Fund Balances - Beginning of year
74,685
(231,552)
973,813
1,313
8,612,1 15
Fund Balances - End ofyear $
105,219
$ (231,454)
$ 1,016,242 $
3,820
$ 8,642,568
M
Other Supplementary Information
Combining Statement of Revenue, Expenditures, and Changes in
Fund Balances (Continued)
Nonmajor Governmental Funds
Year Ended December 31, 2014
Special Revenue Funds
85,677
(3,415)
Debt Service Funds
3,648 (240,799) (1,751,305)
(639,699)
253
1 ,779 423
- 7,195,072 41,151,738
722,498
1,038,097
503,146 1,734,491
College Football
Redevelopment
Coveleski Bond
Redevelopment
Industrial
Hall of Fame
Bond - Airport
Debt Service
Bond - Palais
Excess Levy Revolving Fund
Total
Debt Service
Taxable
Reserve
Royale
$ 3,648 $ $
3,648
$ 491,899
$
$
$
11,521,894
45,683
2,080,552
-
93,717
-
-
159,114
275,824
458
3,668
1 ,779
6,129
- 16,627
1,220,204
-
-
3,648 175,741
15,195,839
538,040
3,668
1,779
6,129
- -
2,759,863
-
-
-
-
880,822
-
9,426,371
416,540
7,212,130
-
939,806
365,652
1,130,000
-
33,773
133,416
- 416,540
21,618,417
1,263,416
-
-
3,648 (240,799)
(6,422,578)
(725,376)
3,668
1,779
6,129
15,732
-
4,905,541
85,677
(250,000)
-
(3,415)
(5,706)
- 4,671,273
85,677
(3,415)
- (5,706)
3,648 (240,799) (1,751,305)
(639,699)
253
1 ,779 423
- 7,195,072 41,151,738
722,498
1,038,097
503,146 1,734,491
$ 3,648 $ 6,954,273 $ 39,400,433 $
82,799 $
1,038,350 $
504,925 $ 1,734,914
139
City of South Bend, Indiana
Capital Projects
Total other financing
Debt Service Funds
Funds
sources (uses)
South Bend
2,366,725
491,495
7,890,276
(1,201,375)
Redevelopment
Building
TIF Erskine
7
(412,192)
(1,779,863)
Authority Debt
Corporation
Village Debt
561,108
Emergency
5,230,616
Service
Debt Service
Service
Total
Medical Services
Revenue
Property taxes
$
$
$ $
491,899
$
Professional sports development taxes
-
-
Intergovernmental
45,683
397,027
Charges for services
-
2,830,360
Fines and forfeitures
-
2,600
Investment income
805
101
7
12,947
17,052
Rental income
-
-
-
-
Other revenue
-
-
-
8,969
Total revenue
805
101
7
550,529
3,256,008
Expenditures
Current:
General government
-
-
-
-
Public safety
-
-
Highways and streets
-
3,951
3,951
Community and economic development
2,000
-
2,000
Culture and recreation
-
-
-
Capital outlay
-
-
-
-
3,792,750
Debt service:
Principal
2,630,000
1,580,425
210,000
5,550,425
39,523
Interest on long -term debt
2,165,790
715,920
281,495
3,296,621
2,223
Total expenditures
4,797,790
2,300,296
491,495
8,852,997
3,834,496
Excess of Revenue Over (Under)
Expenditures
(4,796,985)
(2,300,195)
(491,488)
(8,302,468)
(578,488)
Other Financing Sources (Uses)
Debt issuance
-
Proceeds from sale of capital assets
-
-
-
-
4,375
Transfers in
4,955,500
2,366,725
491,495
7,899,397
-
Transfers out
-
-
-
(9,121)
(1,205,750)
Total other financing
sources (uses)
4,955,500
2,366,725
491,495
7,890,276
(1,201,375)
Net Change in Fund Balances
158,515
66,530
7
(412,192)
(1,779,863)
Fund Balances - Beginning of year
3,980,899
595,831
561,108
9,136,070
5,230,616
Fund Balances - End of year
$ 4,139,414 $
662,361 $
5615115
$ 8,723,878 $
3,450,753
140
Other Supplementary Information
Combining Statement of Revenue, Expenditures, and Changes in
Fund Balances (Continued)
Nonmajor Governmental Funds
Year Ended December 31, 2014
CaDltal Proiects Fund
Professional
-
Park
Cumulative
Cumulative
Morris
Sports
Coveleski
Zoo Nonreverting
Capital
Capital
Performing Arts
Development
Stadium Capital
Endowment Capital
Development
Improvement
Center Capital
$ -
$
$ $
$ 428,917
$
$
588,054
-
-
96,819
-
38,234
417,476
-
14,679
-
-
76,074
2,193
93
173 1,481
2,355
208
1,672
-
-
- -
-
25,000
-
66,711
13,526
- 28,597
854
-
-
656,958
13,619
173 44,757
470,360
442,684
77,746
95,000
500,000
-
46,692
-
-
73,515
-
23,790
705,000
-
685,082
- -
160,545
-
37,852
800 -
1,365,545
168,515
722,934
800 23,790
(708,587) 13,619
173 (123,758)
(252,574)
441,884 53,956
500,000 -
-
- -
96,819
46,692
-
-
(369,000)
500,000
96,819
46,692
(369,000) -
(208,587)
13,619 173 (26,939)
(205,882)
72,884 53,956
955,782
26,833 48,991 552,122
787,571
176,609 460,219
$ 747,195 $
40,452 $ 49,164 $ 525,183 $
5815689 $
249,493 $ 5145175
[Ell
City of South Bend, Indiana
1011
Capital Projects Fund
Community
Revitalization
TIF Leighton
TIF - West
Redevelopment
Enhancement
TIF Downtown
Plaza
Washington
General
District
Revenue
Property taxes
$ 3,326,909
$
$ 518,944
$
$
Professional sports development taxes
-
-
Intergovernmental
400,000
Charges for services
37,727
Fines and forfeitures
-
-
-
Investment income
42,016
315
2,261
62
299
Rental income
-
-
-
-
-
Other revenue
95,505
171,807
308
-
-
Total revenue
3,902,157
172,122
521,513
62
299
Expenditures
Current:
General government
-
-
-
-
-
Public safety
Highways and streets
Community and economic development
Culture and recreation
-
-
-
Capital outlay
170,005
128,575
9,629
Debt service:
Principal
1,721,667
-
-
Interest on long -term debt
759,297
-
-
Total expenditures
2,650,969
128,575
-
9,629
-
Excess of Revenue Over (Under)
Expenditures
1,251,188
43,547
521,513
(9,567)
299
Other Financing Sources (Uses)
Debt issuance
-
-
-
-
Proceeds from sale of capital assets
-
Transfers in
5,706
Transfers out
(927,418)
Total other financing
sources (uses)
(921,712)
-
-
-
Net Change in Fund Balances
329,476
43,547
521,513
(9,567)
299
Fund Balances - Beginning of year
9,612,002
128,779
1,1 10,971
19,658
114,567
Fund Balances - End ofyear
$ 9,941,478
$ 172,326
$ 1,632,484
$ 10,091
$ 114,866
1011
Other Supplementary Information
Combining Statement of Revenue, Expenditures, and Changes in
Fund Balances (Continued)
Nonmajor Governmental Funds
Year Ended December 31, 2014
CaDltal Proiects Funds
TIF No. I -
TIF No. 3 -
TIF - Central
Southside
Southside
Medical Service
Football Hall of
TIF Northeast
TIF Douglas
Development
Development
Area
Fame Capital Major Moves
Development
Road
$ 2,295,976
$ 9,175
$ 432,182
$ $
$ 1,314,652
$ 321,895
12,029
21,582
9,183
2,274 255,924
10,892
757
2,308,005
30,757
441,365
2,274 255,924
1,325,544
322,652
1,274,663 555,171 100,818 4,172,162 141,640 -
- - - - - 296,529
- - - - - 61,780
1,274,663 555,171 100,818 4,172,162 141,640 358,309
1,033,342 30,757 (113,806) (98,544) (3,916,238) 1,183,904 (35,657)
98,544
(491,495)
- (491,495) 98,544 -
1,033,342 (460,738) (113,806) - (3,916,238) 1,183,904 (35,657)
3,438,690 6,402,761 2,329,456 13,022,508 3,259,797 (629,585)
$ 4,472,032 $ 5,942,023 $ 2,215,650 $ - $ 9,106,270 $ 4,443,701 $ (665,242)
143
City of South Bend, Indiana
144
Capital Projects Funds
Certified
Palais Royale
TIF - Northeast
Technology
Historic
Airport Urban
Equipment
Residential
Park
Preservation
Enterprise Zone
Leasing
Revenue
Property taxes
$ 2,51 1,474
$
$
$
$
Professional sports development taxes
-
Intergovernmental
1,328,182
7,850
Charges for services
-
-
Fines and forfeitures
-
-
-
Investment income
4,1 15
12,393
202
1,299
805
Rental income
-
-
-
-
Otherrevenue
-
-
-
-
Total revenue
2,515,589
1,340,575
8,052
1,299
805
Expenditures
Current:
General government
-
-
-
-
-
Public safety
Highways and streets
Community and economic development
Culture and recreation
-
-
Capital outlay
214,573
1,832,364
Debt service:
Principal
-
-
Interest on long -term debt
185,617
-
Total expenditures
400,190
-
-
-
1,832,364
Excess of Revenue Over (Under)
Expenditures
2,115,399
1,340,575
8,052
1,299
(1,831,559)
Other Financing Sources (Uses)
Debt issuance
-
-
-
-
1,703,487
Proceeds from sale of capital assets
-
Transfers in
Transfers out
(2,928,500)
-
Total other financing
sources (uses)
(2,928,500)
-
-
-
1,703,487
Net Change in Fund Balances
(813,101)
1,340,575
8,052
1,299
(128,072)
Fund Balances - Beginning of year
(2,222,180)
3,680,207
55,112
376,159
431,603
Fund Balances - End of year
$ (3,035,281)
$ 5,020,782
$ 63,164
$ 377,458
$ 303,531
144
Other Supplementary Information
Combining Statement of Revenue, Expenditures, and Changes in
Fund Balances (Continued)
Nonmajor Governmental Funds
Year Ended December 31, 2014
Capital Projects
Funds
Total Nonmajor
Governmental
Total
Funds
$ 11,160,124
$ 11,655,671
588,054
588,054
2,588,769
14,156,346
2,958,840
5,039,392
2,600
96,317
401,635
690,406
25,000
25,000
386,277
1,606,481
18,111,299
33,857,667
2,759,863
880,822
- 9,430,322
95,000 7,309,130
500,000 1,439,806
12,489,655 12,489,655
3,447,801 9,363,878
1,208,114 4,538,508
17,740,570 48,211,984
370,729 (14,354,317)
2,203,487
4,375
247,761
(5,922,163)
2,203,487
20,107
13,052,699
(6,181,284)
(3,466,540) 9,095,009
(3,095,811) (5,259,308)
49,369,248 99,657,056
$ 46,273,437 $ 94,397,748
145
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Major Governmental Funds
Capital Projects Funds - TIF Airport
Year Ended December 31, 2014
IL,r
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Property taxes
$ 13,400,000
$ 14,284,735
$ 14,284,734
$ (1)
Other
79,612
349,139
289,246
(59,893)
Total revenues
13,479,612
14,633,874
14,573,980
(59,894)
Expenditures:
Current:
Economic Development:
Other services and charges
4,175,432
1 1,777,095
9,766,440
2,010,655
Capital outlay
16,150,000
15,509,598
312,703
15,196,895
Total expenditures
20,325,432
27,286,693
10,079,143
17,207,550
Other financing sources - Transfers in
5,000
5,000
3,548
(1,452
Net change in fund balances
(6,840,820)
(12,647,819)
4,498,385
17,146,204
Fund balances - Beginning
25,020,129
25,020,1 29
25,020,129
-
Fundbalances - Ending
$ 18,179,309
$ 12,372,310
$ 29,518,514
$ 17,146,204
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$ 4,498,385
To adjust revenues for accruals
(2,834,523)
To adjust expenditures for accruals
1,824,946
To adjust expenditures for encumbrances
1 ,861 ,383
Net change in fund balance, GAAP basis
$ 5,350,191
IL,r
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Motor Vehicle Highway
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (603,560)
To adjust revenues for accruals 387,654
To adjust expenditures for accruals (353,919)
To adjust expenditures for encumbrances 804,086
Net change in fund balance, GAAP basis $ 234,261
ILt/
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Intergovernmental
$ 5,633,418
$ 5,633,418
$ 5,320,036
$ (313,382)
Charges for services
190,000
190,000
233,639
43,639
Other
66,300
217,615
222,097
4,482
Total revenues
5,889,718
6,041 ,033
5,775,772
(265,261)
Expenditures:
Current:
Highways and streets:
Personnel services
3,995,824
3,937,5 10
3,756,344
181,166
Supplies
2,955,233
3,170,848
3,030,509
140,339
Other services and charges
1,942,491
2,722,269
2,635,573
86,696
Capital outlay
212,220
178,250
173,488
4,762
Total expenditures
9,105,768
10,008,877
9,595,914
412,963
Other financing sources - Transfers in
3,216,582
3,216,582
3,216,582
-
Net change in fund balances
532
(751,262)
(603,560)
147,702
Fund balances - Beginning
3,679,915
3,679,915
3,679,915
-
Fund balances - Ending
$ 3,680,447
$ 2,928,653
$ 3,076,355
$ 147,702
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (603,560)
To adjust revenues for accruals 387,654
To adjust expenditures for accruals (353,919)
To adjust expenditures for encumbrances 804,086
Net change in fund balance, GAAP basis $ 234,261
ILt/
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Recreation Nonreverting
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 22,456
To adjust revenues for accruals 6,568
To adjust expenditures for accruals (8,935)
To adjust expenditures for encumbrances 13,207
Net change in fund balance, GAAP basis $ 33,296
ILf:3
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Charges for services
$ 1,400,592 $
1,402,592
$ 842,289
$ (560,303)
Other
49,000
86,586
103,197
16,61 1
Total revenues
1,449,592
1,489,178
945,486
(543,692)
Expenditures:
Current:
Culture and recreation
Personnel services
613,627
613,627
465,680
147,947
Supplies
272,426
274,095
217,716
56,379
Other services and charges
491,036
492,342
239,634
252,708
Capital outlay
99,000
99,000
-
99,000
Total expenditures
1,476,089
1,479,064
923,030
556,034
Net change in fund balances
(26,497)
10,1 14
22,456
12,342
Fund balances - Beginning
778,249
778,249
778,249
-
Fund balances - Ending
$ 751,752 $
788,363
$ 800,705
$ 12,342
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 22,456
To adjust revenues for accruals 6,568
To adjust expenditures for accruals (8,935)
To adjust expenditures for encumbrances 13,207
Net change in fund balance, GAAP basis $ 33,296
ILf:3
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Studebaker Oliver Revitalization Grants
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues- Other $ 305,000 $ 335,000 $ 3,078 $ (331,922)
Expenditures:
Current:
Economic Development
Other Services and Charges - 30,000 30,000 -
Capital Outlay 1,385,000 1,385,000 - 1,385,000
Total expenditures
1,385,000
1,415,000
30,000 1,385,000
Net change in fund balances
(1,080,000)
(1,080,000)
(26,922) 1,053,078
Fund balances - Beginning
1,083,386
1,083,386
1,083,386 -
Fund balances - Ending
$ 3,386 $
3,386 $
1,056,464 $ 1,053,078
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (26,922)
To adjust revenues for accruals 751
To adjust expenditures for accruals (3,375)
To adjust expenditures for encumbrances 30,000
Net change in fund balance, GAAP basis $ 454
IGV
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Economic Development State Grants
Year Ended December 31, 2014
Revenues- Other
Expenditures:
Current:
Economic Development
Other services and charges
Capital Outlay
Total expenditures
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
To adjust expenditures for encumbrances
117,886 162,886 114,960 47,926
- 2,000,000 - 2,000,000
1 17,886 2,162,886 1 14,960 2,047,926
(40,870) (85,870) (41,918) 43,952
348,950 348,950 348,950 -
$ 308,080 $ 263,080 $ 307,032 $ 43,952
$ (41,918)
(57,973)
(12,200)
')n nnn
Net change in fund balance, GAAP basis $ (89,691)
1167/]
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts Basis
Positive
Original Final Amounts
(Negative)
$ 77,016 $ 2,077,016 $ 73,042
$ (2,003,974)
117,886 162,886 114,960 47,926
- 2,000,000 - 2,000,000
1 17,886 2,162,886 1 14,960 2,047,926
(40,870) (85,870) (41,918) 43,952
348,950 348,950 348,950 -
$ 308,080 $ 263,080 $ 307,032 $ 43,952
$ (41,918)
(57,973)
(12,200)
')n nnn
Net change in fund balance, GAAP basis $ (89,691)
1167/]
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - DCI Operating
Year Ended December 31, 2014
Expenditures:
Current:
Economic Development:
Personnel services 2,069,556 2,058,296 1 ,91 3,819 144,477
Supplies 29,472 43,735 40,652 3,083
Other services and charges 284,773 302,853 269,108 33,745
Total expenditures
2,383,801
2,404,884
2,223,579 181,305
Variance
Other financing sources - Transfers in
1,688,959
1,688,959
Actual
With Final
Net change in fund balances
(105,555)
1,133
Budgetary
Budget
907,315
Budgeted Amounts
Basis
Positive
$ 801,760 $
Original
Final
Amounts
(Negative)
Revenues:
Net change in fund balance, budget basis
$
Intergovernmental
$ 386,787 $
386,787
$ 347,467
$ (39,320)
Other
202,500
330,271
323,951
(6,320)
Total revenues
589,287
717,058
671,418
(45,640)
Expenditures:
Current:
Economic Development:
Personnel services 2,069,556 2,058,296 1 ,91 3,819 144,477
Supplies 29,472 43,735 40,652 3,083
Other services and charges 284,773 302,853 269,108 33,745
Total expenditures
2,383,801
2,404,884
2,223,579 181,305
Other financing sources - Transfers in
1,688,959
1,688,959
1,688,959 -
Net change in fund balances
(105,555)
1,133
136,798 135,665
Fund balances - Beginning
907,315
907,315
907,315 -
Fund balances - Ending
$ 801,760 $
908,448 $
1,044,1 13 $ 135,665
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
136,798
To adjust revenues for accruals
3,510
To adjust expenditures for accruals
(1 1,793)
To adjust expenditures for encumbrances
30,106
Net change in fund balance, GAAP basis
$
158,621
VY
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Community Investment Grants
Year Ended December 31, 2014
Expenditures:
Current:
Economic development:
Personnel services - 2,328 - 2,328
Other services and charges 3,81 1,000 7,188,457 7,071 ,558 1 16,899
Total expenditures
3,81 1,000 7,190,785
7,071 ,558
1 19,227
Variance
Net change in fund balances
- 497,414
Actual
With Final
Fund balances - Beginning
590,162 590,162
590,162
Budgetary
Budget
$ 590,162 $ 1,087,576
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Intergovernmental
$ 3,525,000
$ 6,692,663
$ 4,287,122
$ (2,405,541)
Other
286,000
995,536
536,728
(458,808)
Total revenues
3,81 1,000
7,688,199
4,823,850
(2,864,349)
Expenditures:
Current:
Economic development:
Personnel services - 2,328 - 2,328
Other services and charges 3,81 1,000 7,188,457 7,071 ,558 1 16,899
Total expenditures
3,81 1,000 7,190,785
7,071 ,558
1 19,227
Net change in fund balances
- 497,414
(2,247,708)
(2,745,122)
Fund balances - Beginning
590,162 590,162
590,162
-
Fund balances - Ending
$ 590,162 $ 1,087,576
$ L1,657,546)
L_(2,745,122)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (2,247,708)
To adjust revenues for accruals (136,559)
To adjust expenditures for accruals 69,391
To adjust expenditures for encumbrances 2,447,968
Net change in fund balance, GAAP basis $ 133,092
IMP]
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Police State Seizure
Year Ended December 31, 2014
Revenues- Other
Expenditures:
Current:
Public Safety:
Other services and charges
Capital outlay
Total expenditures
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
Net change in fund balance, GAAP basis
20,000 20,000
40,000 40,000
(4,100) (3,800)
- 20,000
- 40,000
28,765 32,565
158,667 -
$ 154,567 $ 154,867 $ 187,432 $ 32,565
153
$ 28,765
III
$ 28,876
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts Basis
Positive
Original Final Amounts
(Negative)
$ 35,900 $ 36,200 $ 28,765
$ (7,435)
20,000 20,000
40,000 40,000
(4,100) (3,800)
- 20,000
- 40,000
28,765 32,565
158,667 -
$ 154,567 $ 154,867 $ 187,432 $ 32,565
153
$ 28,765
III
$ 28,876
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Juvenile Positive Assistance
Year Ended December 31, 2014
Revenues:
Fines and fees
Other
Total revenues
Expenditures:
Current:
Public safety - Other services and charges
Total expenditures
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
Net change in fund balance, GAAP basis
Budgeted Amounts
Original Final
$ 1,000 $ 1,000 $
1,025 1 ,1 25
1,000 1,000 - 1,000
1,000 1,000 - 1,000
25 125 471 346
1 1,548 1 1,548 1 1,548 -
$ 1 1,573 $ 1 1,673 $ 12,019 $ 346
154
$ 471
(5)
$ 466
Variance
Actual
With Final
Budgetary
Budget
Basis
Positive
Amounts
(Negative)
438
$ (562)
33
(92)
471
(654)
1,000 1,000 - 1,000
1,000 1,000 - 1,000
25 125 471 346
1 1,548 1 1,548 1 1,548 -
$ 1 1,573 $ 1 1,673 $ 12,019 $ 346
154
$ 471
(5)
$ 466
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Law Enforcement Continuing Education
Year Ended December 31, 2014
Expenditures:
Current:
Public safety:
Supplies 30,000 48,855 43,868 4,987
Other services and charges 190,000 182,000 174,515 7,485
Capital outlay 50,000 63,947 13,947 50,000
Total expenditures
270,000
294,802
232,330 62,472
Variance
Net change in fund balances
(59,000)
(69,857)
Actual
With Final
981,226
981,226
981,226 -
Budgetary
Budget
$ 922,226 $
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Intergovernmental
$ - $
10,000
$ 10,000
$ -
Charges for services
100,000
100,000
100,181
181
Fines and fees
80,000
81,500
73,772
(7,728)
Other
31,000
33,445
21,935
(1 1,510)
Total revenues
21 1 ,000
224,945
205,888
(19,057)
Expenditures:
Current:
Public safety:
Supplies 30,000 48,855 43,868 4,987
Other services and charges 190,000 182,000 174,515 7,485
Capital outlay 50,000 63,947 13,947 50,000
Total expenditures
270,000
294,802
232,330 62,472
Net change in fund balances
(59,000)
(69,857)
(26,442) 43,415
Fund balances - Beginning
981,226
981,226
981,226 -
Fund balances - Ending
$ 922,226 $
91 1,369 $
954,784 $ 43,415
BudQet/GAAP Reconciliation
Net change in fund balance, budget basis $ (26,442)
To adjust revenues for accruals 23,398
To adjust expenditures for accruals (19,197)
To adjust expenditures for encumbrances 6,498
Net change in fund balance, GAAP basis $ (I 5,743)
IM
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Loss Recovery
Year Ended December 31, 2014
Revenues- Other
Expenditures:
Current:
General government:
Supplies
Other services and charges
Capital outlay
Total expenditures
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
To adjust expenditures for encumbrances
Actual
Budgetary
Budgeted Amounts Basis
Original Final Amounts
$ 17,000 $ 31,960 $ 22,331
Variance
With Final
Budget
Positive
(Negative)
$ (9,629)
200,000
200,000
67,500
132,500
2,500,000
4,315,805
4,1 15,139
200,666
1,950,000
2,100,000
2,099,076
924
4,650,000
6,615,805
6,281,715
334,090
(4,633,000)
(6,583,845)
(6,259,384)
324,461
7,936,033
7,936,033
7,936,033
-
$ 3,303,033 $ 1,352,188 $ 1,676,649 $ 324,461
$ (6,259,384)
5,410
(230,638)
4,187,243
Net change in fund balance, GAAP basis $ (2,297,369)
IM
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Emergency Telephone System
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues - Intergovernmental $ 215,000 $ 215,000 $ 215,000 $ -
Expenditures:
Current:
Public safety - Personnel Services 215,000 215,000 181,349 33,651
Total expenditures 215,000 215,000 181,349 33,651
Net change in fund balances - - 33,651 33,651
Fund balances - Beginning - - - -
Fund balances - Ending $ - $ - $ 33,651 $ 33,651
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 33,651
To adjust revenues for accruals (215,000)
To adjust expenditures for accruals (13,768)
Net change in fund balance, GAAP basis $ (I 95,1 1 7)
M*A
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Local Road and Street
Year Ended December 31, 2014
Expenditures:
Current:
Highways and streets:
Supplies 350,000 472,663 472,000 663
Other services and charges 7,500 7,500 - 7,500
Capital outlay 725,000 644,357 419,195 225,162
Total expenditures
1,082,500
1,124,520
891,195 233,325
Variance
Net change in fund balances
5,500
476
Actual
With Final
1 ,941 ,375
1 ,941 ,375
1 ,941 ,375 -
Budgetary
Budget
1,941,851 $
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Intergovernmental
$ 1,080,000 $
1,080,000
$ 1,017,383
$ (62,617)
Other
8,000
44,996
43,165
(1 ,83 1)
Total revenues
1,088,000
1,124,996
1,060,548
(64,448)
Expenditures:
Current:
Highways and streets:
Supplies 350,000 472,663 472,000 663
Other services and charges 7,500 7,500 - 7,500
Capital outlay 725,000 644,357 419,195 225,162
Total expenditures
1,082,500
1,124,520
891,195 233,325
Net change in fund balances
5,500
476
169,353 168,877
Fund balances - Beginning
1 ,941 ,375
1 ,941 ,375
1 ,941 ,375 -
Fund balances - Ending
$ 1,946,875 $
1,941,851 $
2,1 10,728 $ 168,877
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 169,353
To adjust revenues for accruals 94
To adjust expenditures for accruals 22,514
To adjust expenditures for encumbrances 333,721
Net change in fund balance, GAAP basis $ 525,682
1 Px:3
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Excess Welfare Distribution
Year Ended December 31, 2014
Revenues- Other
Expenditures:
Current - Public safety - Supplies
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
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
$ - $ 5 $ 4 $ (1)
1,146 1,146 1,146 -
(1,146) (1,141) (1,142) (1)
1,150 1,150 1,150 -
$ 4 $ 9 $ 8 $ (1)
$ (1,142)
Net change in fund balance, GAAP basis $ (I ,141)
M
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Human Rights Federal
Year Ended December 31, 2014
Revenues:
Intergovernmental
Other
Total revenues
Expenditures:
Current:
General government
Personnel services
Supplies
Other services and charges
Capital outlay
Total expenditures
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
112,901
115,401
109,815
Variance
4,550
4,550
Actual
With Final
105,050
152,550
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
$ 187,000 $
215,333
$ 185,783
$ (29,550)
23,700
23,700
86,915
63,215
210,700
239,033
272,698
33,665
112,901
115,401
109,815
5,586
4,550
4,550
1,902
2,648
105,050
152,550
97,501
55,049
1,500
1,500
-
1,500
224,001
274,001
209,218
64,783
(13,301)
(34,968)
63,480
98,448
466,775
466,775
466,775
-
$ 453,474 $
431,807 $
530,255 $
98,448
11 .1/l
$ 63,480
1,986
(6,169)
$ 59,297
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - East Race Waterway
Year Ended December 31, 2014
Revenues- Other
Expenditures:
Current - Culture and recreation - Supplies
Total expenditures
Net change in fund balances
Fund balances - Beginning
Fund balances - Ending
BudQet/GAAP Reconciliation
Net change in fund balance, budget basis
To adjust revenues for accruals
Net change in fund balance, GAAP basis
Budgeted Amounts
Original Final _
$ 100 $ 100 $
10,000 10,346
9,092 1,254
10,000 10,346 9,092 1,254
(9,900) (10,246) (9,060) 1,186
14,372 14,372 14,372 -
$ 4,472 $ 4,126 $ 5,312 $ 1,186
iri
$ (9,060)
10
$ (9,050)
Variance
Actual
With Final
Budgetary
Budget
Basis
Positive
Amounts
(Negative)
32
$ (68)
9,092 1,254
10,000 10,346 9,092 1,254
(9,900) (10,246) (9,060) 1,186
14,372 14,372 14,372 -
$ 4,472 $ 4,126 $ 5,312 $ 1,186
iri
$ (9,060)
10
$ (9,050)
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Morris and Palais Marketing
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues- Other $ 8,100 $ 9,500 $ 10,685 $ 1,185
Expenditures:
Current - Culture and recreation -
Other services and charges 8,100 18,000 12,931 5,069
Net change in fund balances - (8,500) (2,246) 6,254
Fund balances - Beginning 27,985 27,985 27,985 -
Fund balances - Ending $ 27,985 $ 19,485 $ 25,739 $ 6,254
BudQet/GAAP Reconciliation
Net change in fund balance, budget basis $ (2,246)
To adjust revenue for accruals 19
To adjust expenditures for accruals 974
Net change in fund balance, GAAP basis $ (I ,253)
IV%
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Police Block Grants
Year Ended December 31, 2014
Revenues- Other
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
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
$ - $ - $ 1 1 $ 1 1
3,817 3,817 3,817 -
$ 3,817 $ 3,817 $ 3,828 $ II
$ II
2
Net change in fund balance, GAAP basis $ 13
ir:%3
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Economic Development Commission
Year Ended December 31, 2014
Revenues- Other
Net change in fund balances
Fund balances - Beginning
Fund balances - Ending
BudQet/GAAP Reconciliation
Net change in fund balance, budget basis
To adjust revenues for accruals
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
$ - $ - $ 77 $ 77
- - 77 77
27,128 27,128 27,128 -
$ 27,128 $ 27,128 $ 27,205 $ 77
$ 77
io
Net change in fund balance, GAAP basis $ 95
ir.Sf
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Nazmat
Year Ended December 31, 2014
11MI
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Charges for services
$ 10,000 $
34,055
$
24,055
$ (10,000)
Other
-
-
63
63
Total revenues
10,000
34,055
24,1 18
(9,937)
Expenditures:
Current:
Public safety - Supplies
10,000
30,000
22,227
7,773
Net change in fund balances
-
4,055
1,891
(2,164)
Fund balances - Beginning
16,207
16,207
16,207
-
Fund balances - Ending
$ 16,207 $
20,262
$
18,098
$ (2,164)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
1,891
To adjust revenues for accruals
13,800
To adjust expenditures for accruals
(20,939)
To adjust expenditures for encumbrances
21,530
Net change in fund balance, GAAP basis
$
16,282
11MI
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Indiana River Rescue
Year Ended December 31, 2014
Expenditures:
Current:
Public safety:
Personnel services 2,500 2,500 2,474 26
Supplies 8,800 8,800 1,973 6,827
Other services and charges 41,000 41,000 27,146 13,854
Total expenditures
52,300
52,300
Variance
Net change in fund balances
Actual
With Final
9,682 16,632
Fund balances - Beginning
Budgetary
Budget
95,718 -
Budgeted Amounts
Basis
Positive
$ 105,400 $ 16,632
Original Final
Amounts
(Negative)
Revenues:
Net change in fund balance, budget basis
Charges for services
$ 45,000 $ 45,000
$ 40,000
$ (5,000)
Intergovernmental
- -
975
975
Other
200 350
300
(50)
Total revenues
45,200 45,350
41,275
(4,075)
Expenditures:
Current:
Public safety:
Personnel services 2,500 2,500 2,474 26
Supplies 8,800 8,800 1,973 6,827
Other services and charges 41,000 41,000 27,146 13,854
Total expenditures
52,300
52,300
31,593 20,707
Net change in fund balances
(7,100)
(6,950)
9,682 16,632
Fund balances - Beginning
95,718
95,718
95,718 -
Fund balances - Ending
$ 88,618 $
88,768
$ 105,400 $ 16,632
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$ 9,682
To adjust revenues for accruals
67
To adjust expenditures for accruals
(394)
Net change in fund balance, GAAP basis
$ 9,355
11r.Ti
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Cops Block Grant 11
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues - Intergovernmental $ - $ 228,060 $ 76,866 $ (1 5 1 ,194)
Expenditures:
Current:
Public safety:
Other services and charges - 148,264 148,263 1
Supplies - 15,936 15,144 792
Capital outlay 90,000 63,860 37,702 26,158
Total expenditures
90,000
228,060 201,109
26,951
Net change in fund balances
(90,000)
- (124,243)
(124,243)
Fund balances - Beginning
204,509
204,509 204,509
-
Fund balances - Ending
$ 1 14,509 $
204,509 $ 80,266
$ (124,243)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (124,243)
To adjust revenues for accruals 140
To adjust expenditures for accruals (15,298)
To adjust expenditures for encumbrances 15,145
Net change in fund balance, GAAP basis $ (I 24,256)
�fA
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Regional Police Academy
Year Ended December 31, 2014
Revenues:
Charges for services
Other
Total revenues
Expenditures:
Current:
Public Safety:
Supplies
Other services and charges
Total expenditures
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
1,750
1,750
Variance
445
Actual
With Final
16,995
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original Final
Amounts
(Negative)
$ 20,000 $ 20,000
$ 18,275
$ (1,725)
2,000 2,000
223
(1,777)
22,000 22,000
18,498
(3,502)
1,750
1,750
1,305
445
22,000
22,000
16,995
5,005
23,750
23,750
18,300
5,450
(1,750)
(1,750)
198
1,948
68,085
68,085
68,085
-
$ 66,335 $
66,335 $
68,283 $
1,948
iM1.1
$ 198
(2,203)
(2,588)
$ (4,593)
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - COPS MORE Grant
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues- Other $ 41,600 $ 41,600 $ 12,414 $ (29,186)
Expenditures:
Current:
Public safety:
Supplies 15,000 44,000 39,284 4,716
Other services and charges 1 6,000 16,000 10,976 5,024
Capital outlay 1 10,600 81,600 - 81,600
Total expenditures
141,600
141,600
50,260 91,340
Net change in fund balances
(100,000)
(100,000)
(37,846) 62,154
Fund balances - Beginning
1 13,343
1 13,343
1 13,343 -
Fund balances - Ending
$ 13,343 $
13,343 $
75,497 $ 62,154
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (37,846)
To adjust revenues for accruals 141
To adjust expenditures for accruals (20,550)
To adjust expenditures for encumbrances 30,735
Net change in fund balance, GAAP basis $ (27,520)
I[ :V:
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Federal Drug Enforcement
Year Ended December 31, 2014
Expenditures:
Current:
Public safety:
Supplies 40,000 56,499 48,526 7,973
Other services and charges 40,000 45,000 41,596 3,404
Capital outlay 70,000 65,000 41,179 23,821
Total expenditures
150,000
166,499
Variance
Net change in fund balances
Actual
With Final
(63,577) 19,286
Fund balances - Beginning
Budgetary
Budget
385,160 -
Budgeted Amounts
Basis
Positive
321,583 $ 19,286
Original Final
Amounts
(Negative)
Revenues:
Intergovernmental
$ 75,000 $ 75,000
$ 59,1 10
$ (15,890)
Other
2,000 8,636
8,614
(22)
Total revenues
77,000 83,636
67,724
(15,912)
Expenditures:
Current:
Public safety:
Supplies 40,000 56,499 48,526 7,973
Other services and charges 40,000 45,000 41,596 3,404
Capital outlay 70,000 65,000 41,179 23,821
Total expenditures
150,000
166,499
1 3 1 ,301 35,198
Net change in fund balances
(73,000)
(82,863)
(63,577) 19,286
Fund balances - Beginning
385,160
385,160
385,160 -
Fund balances - Ending
$ 312,160 $
302,297 $
321,583 $ 19,286
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (63,577)
To adjust revenues for accruals 1,726
To adjust expenditures for accruals (16,341)
To adjust expenditures for encumbrances 23,960
Net change in fund balance, GAAP basis $ (54,232)
iIM11
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Gift
Year Ended December 31, 2014
BudQet/GAAP Reconciliation
Net change in fund balance, budget basis $ (17,976)
To adjust revenues for accruals 53
To adjust expenditures for accruals (32,725)
To adjust expenditures for encumbrances 81,182
Net change in fund balance, GAAP basis $ 30,534
iri
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues- Other
$ 7,290 $
178,403
$ 175,300
$ (3,103)
Expenditures:
Supplies
22,100
16,176
5,924
Other services and charges
-
178,910
177,100
1,810
Total expenditures
-
201,010
193,276
7,734
Net change in fund balances
7,290
(22,607)
(17,976)
4,631
Fund balances - Beginning
74,734
74,734
74,734
-
Fund balances - Ending
$ 82,024 $
52,127
$ 56,758
$ 4,631
BudQet/GAAP Reconciliation
Net change in fund balance, budget basis $ (17,976)
To adjust revenues for accruals 53
To adjust expenditures for accruals (32,725)
To adjust expenditures for encumbrances 81,182
Net change in fund balance, GAAP basis $ 30,534
iri
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Urban Development Action Grant
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues- Other $ 110 $ 110 $ 78 $ (32)
Net change in fund balances 1 10 1 10 78 (32)
Fund balances - Beginning 27,587 27,587 27,587 -
Fund balances - Ending $ 27,697 $ 27,697 $ 27,665 $ (32)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 78
To adjust revenues for accruals 20
Net change in fund balance, GAAP basis $ 98
IIFPJ
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Leaf Collection and Removal
Year Ended December 31, 2014
Other financing uses
Transfers out
(250,000)
(250,000)
(250,000) -
Variance
2,888
1,586
41,850 40,264
Actual
With Final
938,578
938,578 -
Fund balances - Ending
Budgetary
Budget
$ 980,428 $ 40,264
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
661
To adjust expenditures for accruals
Charges for services
$ 429,000 $
429,000
$ 436,317
$ 7,317
Other
2,700
2,700
3,076
376
Total revenues
431,700
431,700
439,393
7,693
Expenditures:
Current:
General government:
Personnel services
64,378
54,578
29,421
25,157
Supplies
7,067
8,369
7,050
1 ,3 19
Other services and charges
101,367
1 1 1,167
105,684
5,483
Other uses
6,000
6,000
5,388
612
Total expenditures
178,812
180,1 14
147,543
32,571
Other financing uses
Transfers out
(250,000)
(250,000)
(250,000) -
Net change in fund balances
2,888
1,586
41,850 40,264
Fund balances - Beginning
938,578
938,578
938,578 -
Fund balances - Ending
$ 941,466
$ 940,164
$ 980,428 $ 40,264
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$ 41,850
To adjust revenues for accruals
661
To adjust expenditures for accruals
(82)
Net change in fund balance, GAAP basis
$ 42,429
173
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Police K -9 Unit
Year Ended December 31, 2014
Revenues - Other
Expenditures:
Current - Public safety -
Other services and charges
Budgeted Amounts
Original Final _
$ 2,000 $ 2,000 $
2,000 2,000
- 2,000
Net change in fund balances - - 2,006 2,006
Fund balances - Beginning 1 ,3 1 3 1 ,3 1 3 1 ,3 1 3 -
Fund balances - Ending $ 1 ,3 1 3 $ 1 ,3 1 3 $ 3,319 $ 2,006
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 2,006
To adjust revenues for accruals 501
Net change in fund balance, GAAP basis $ 2,507
174
Variance
Actual
With Final
Budgetary
Budget
Basis
Positive
Amounts
(Negative)
2,006
$ 6
- 2,000
Net change in fund balances - - 2,006 2,006
Fund balances - Beginning 1 ,3 1 3 1 ,3 1 3 1 ,3 1 3 -
Fund balances - Ending $ 1 ,3 1 3 $ 1 ,3 1 3 $ 3,319 $ 2,006
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 2,006
To adjust revenues for accruals 501
Net change in fund balance, GAAP basis $ 2,507
174
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Rainy Day
Year Ended December 31, 2014
i1FJ1
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues- Other
$ 52,000
$ 52,000
$
24,483
$ (27,517)
Net change in fund balances
52,000
52,000
24,483
(27,517)
Fund balances - Beginning
8,617,705
8,61 7,705
8,61 7,705
-
Fund balances - Ending
$ 8,669,705
$ 8,669,705
$
8,642,188
$ ____(17,51 7)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
24,483
To adjust revenues for accruals
5,970
Net change in fund balance, GAAP basis
$
30,453
i1FJ1
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Special Revenue Funds - Excess Levy
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 3,648
To adjust revenues for accruals -
Net change in fund balance, GAAP basis $ 3,648
Mi
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original Final
Amounts
(Negative)
Revenues- Other
$ - $ 3,648
$ 3,648
$ -
Net change in fund balances
- 3,648
3,648
-
Fund balances - Beginning
- -
-
-
Fund balances - Ending
$ - $ 3,648
$ 3,648
$ -
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 3,648
To adjust revenues for accruals -
Net change in fund balance, GAAP basis $ 3,648
Mi
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Debt Service Funds - College Football Hall of Fame Debt Service
Year Ended December 31, 2014
Revenues:
Taxes:
Property
Intergovernmental
Total revenues
Expenditures:
Debt service:
Principal
Interest and fiscal agent fees
Total expenditures
1,125,000 1 ,1 30,000
1,130,000 -
141 ,341 (41)
1 ,271 ,341 (41)
Net change in fund balances
- (621 ,270)
(642,213)
Variance
Fund balances - Beginning
716,336 716,336
Actual
With Final
Fund balances - Ending
$ 716,336 $ 95,066 $
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
$ I , 1 15,126 $
497,000
$ 497,768
$ 768
152,990
153,030
131,360
(21 ,670)
1,268,1 16
650,030
629,128
(20,902)
1,125,000 1 ,1 30,000
1,130,000 -
141 ,341 (41)
1 ,271 ,341 (41)
Net change in fund balances
- (621 ,270)
(642,213)
(20,943)
Fund balances - Beginning
716,336 716,336
716,336
-
Fund balances - Ending
$ 716,336 $ 95,066 $
74,123
$ (20,943)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (642,213)
To adjust revenues for accruals (5,369)
To adjust expenditures for accruals 7,883
Net change in fund balance, GAAP basis $ (639,699)
rtl
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Debt Service Funds - Redevelopment Bond - Airport Taxable
Year Ended December 31, 2014
Revenues- Other
Other financing uses -Transfers out
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
(5,000) (5,000) (3,548) 1,452
- - (599) (599)
1,038,904 1,038,904 1,038,904 -
$ 1,038,904 $ 1,038,904 $ 1,038,305 $ (599)
$ (599)
ocn
Net change in fund balance, GAAP basis $ 253
I1M.]
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts Basis
Positive
Original Final Amounts
(Negative)
$ 5,000 $ 5,000 $ 2,949
$ (2,051)
(5,000) (5,000) (3,548) 1,452
- - (599) (599)
1,038,904 1,038,904 1,038,904 -
$ 1,038,904 $ 1,038,904 $ 1,038,305 $ (599)
$ (599)
ocn
Net change in fund balance, GAAP basis $ 253
I1M.]
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Debt Service Funds - Coveleski Bond Debt Service Reserve
Year Ended December 31, 2014
Ifni
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues- Other
$ 3,000 $
1,800
$
1,430
$ (370)
Net change in fund balances
3,000
1,800
1,430
(370)
Fund balances - Beginning
503,472
503,472
503,472
-
Fund balances - Ending
$ 506,472 $
505,272
$
504,902
$ (370)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
1,430
To adjust revenues for accruals
349
Net change in fund balance, GAAP basis
$
1,779
Ifni
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Debt Service Funds - Redevelopment Bond - Palais Royale
Year Ended December 31, 2014
Revenues- Other
Other financing uses -Transfers out
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
(6,000) (6,000) (5,929) 71
- - (1,002) (1,002)
1,735,840 1,735,840 1,735,840 -
$ 1,735,840 $ 1,735,840 $ 1,734,838 $ (1,002)
$ (1,002)
1,425
Net change in fund balance, GAAP basis $ 423
r:If
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts Basis
Positive
Original Final Amounts
(Negative)
$ 6,000 $ 6,000 $ 4,927
$ (1,073)
(6,000) (6,000) (5,929) 71
- - (1,002) (1,002)
1,735,840 1,735,840 1,735,840 -
$ 1,735,840 $ 1,735,840 $ 1,734,838 $ (1,002)
$ (1,002)
1,425
Net change in fund balance, GAAP basis $ 423
r:If
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Emergency Medical Services
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (2,893,239)
To adjust revenues for accruals 508,657
To adjust expenditures for accruals 406,386
To adjust expenditures for encumbrances 198,333
Net change in fund balance, GAAP basis $ (I ,779,863)
IE:I
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Charges for services
$ 2,629,000
$ 2,634,219
$ 2,725,245
$ 91,026
Other
32,000
38,716
26,481
(12,235)
Total revenues
2,661,000
2,672,935
2,751,726
78,791
Expenditures:
Public safety:
Supplies
150,000
300,000
229,381
70,619
Other services and charges
749,106
768,058
619,466
148,592
Capital outlay
775,000
4,219,241
3,796,1 18
423,123
Total expenditures
1,674,106
5,287,299
4,644,965
642,334
Other financing uses - Transfers out
(1,000,000)
(1,000,000)
(1,000,000)
-
Net change in fund balances
(13,106)
(3,614,364)
(2,893,239)
721 ,1 25
Fund balances - Beginning
5,554,585
5,554,585
5,554,585
-
Fund balances - Ending
$ 5,541 ,479
$ 1,940,221
$ 2,661 ,346
$ 721,125
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (2,893,239)
To adjust revenues for accruals 508,657
To adjust expenditures for accruals 406,386
To adjust expenditures for encumbrances 198,333
Net change in fund balance, GAAP basis $ (I ,779,863)
IE:I
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Professional Sports Development
Year Ended December 31, 2014
Expenditures:
Culture and recreation:
Other services and charges 765,746 765,746 765,545 201
Other uses 100.000 100.000 100.000 -
Total expenditures
865,746
865,746
865,545
Variance
Actual
With Final
(187,5 18)
(245,965)
(58,447)
Budgetary
Budget
842,057
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Intergovernmental
$ 600,000 $
600,000
$ 551,252
$ (48,748)
Other
78,228
78,228
68,328
(9,900)
Total revenues
678,228
678,228
619,580
(58,648)
Expenditures:
Culture and recreation:
Other services and charges 765,746 765,746 765,545 201
Other uses 100.000 100.000 100.000 -
Total expenditures
865,746
865,746
865,545
201
Net change in fund balances
(187,5 18)
(187,5 18)
(245,965)
(58,447)
Fund balances - Beginning
842,057
842,057
842,057
-
Fund balances - Ending
$ 654,539 $
654,539 $
596,092
$ (58,447)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (245,965)
To adjust revenues for accruals 37,378
Net change in fund balance, GAAP basis $ (208,587)
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Coveleski Stadium Capital
Year Ended December 31, 2014
Revenues- Other
Expenditures:
Culture and recreation:
Supplies
Other services and charges
Total expenditures
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
Net change in fund balance, GAAP basis
Actual
Budgetary
Budgeted Amounts Basis
Original Final Amounts
$ 500 $ 14,026 $ 13,600
- 2,002
1,538
- 3,540
500 10,486
26,850 26,850
Variance
With Final
Budget
Positive
(Negative)
$ (426)
2,002
- 1,538
- 3,540
13,600 3,1 14
26,850 -
$ 27,350 $ 37,336 $ 40,450 $ 3,1 14
IE:I1:i
$ 13,600
19
$ 13,619
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Zoo Endowment
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues- Other $ 2,900 $ 2,900 $ 139 $ (2,761)
Net change in fund balances 2,900 2,900 139 (2,761)
Fund balances - Beginning 49,022 49,022 49,022 -
Fund balances - Ending $ 51,922 $ 51,922 $ 49,161 $ (2,761)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 139
To adjust revenues for accruals 34
Net change in fund balance, GAAP basis $ 173
r -T-1
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Park Nonreverting Capital
Year Ended December 31, 2014
Revenues:
Charges for services
Other
Total revenues
Expenditures:
Culture and recreation:
Supplies
Other services and charges
Capital outlay
Total expenditures
Other financing sources - Transfers in
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
To adjust expenditures for encumbrances
- 64,217 59,348 4,869
- 46,000 44,489 1 ,5 1 1
176,800 95,000 95,000 -
176,800 205,217 198,837 6,380
190,500 207,525 96,819 (1 10,706)
18,900 41,203 (61,659) (102,862)
572,891 572,891 572,891 -
$ 591,791 $ 614,094 $ 51 1,232 $ (I 02,862)
$ (61 ,659)
4,398
20,389
Net change in fund balance, GAAP basis $ (26,939)
IP11
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original Final
Amounts
(Negative)
$ 3,000 $ 36,695
$ 39,276
$ 2,581
2,200 2,200
1,083
(1,1 1 7)
5,200 38,895
40,359
1,464
- 64,217 59,348 4,869
- 46,000 44,489 1 ,5 1 1
176,800 95,000 95,000 -
176,800 205,217 198,837 6,380
190,500 207,525 96,819 (1 10,706)
18,900 41,203 (61,659) (102,862)
572,891 572,891 572,891 -
$ 591,791 $ 614,094 $ 51 1,232 $ (I 02,862)
$ (61 ,659)
4,398
20,389
Net change in fund balance, GAAP basis $ (26,939)
IP11
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Cumulative Capital Development
Year Ended December 31, 2014
Expenditures:
General government -
Other services and charges 722,935 722,935 722,934 1
Total expenditures 722,935 722,935 722,934 1
Net change in fund balances
(154,419)
(202,141)
(204,548)
Variance
Fund balances - Beginning
785,798
785,798
Actual
With Final
Fund balances - Ending
$ 631,379 $
583,657 $
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Taxes - Property
$ 477,722 $
430,000
$ 430,786
$ 786
Intergovernmental
87,294
87,294
84,926
(2,368)
Other
3,500
3,500
2,674
(826)
Total revenues
568,516
520,794
518,386
(2,408)
Expenditures:
General government -
Other services and charges 722,935 722,935 722,934 1
Total expenditures 722,935 722,935 722,934 1
Net change in fund balances
(154,419)
(202,141)
(204,548)
(2,407)
Fund balances - Beginning
785,798
785,798
785,798
-
Fund balances - Ending
$ 631,379 $
583,657 $
581,250
$ (2,407)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (204,548)
To adjust revenues for accruals (1,334)
Net change in fund balance, GAAP basis $ (205,882)
Vr
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Cumulative Capital Improvement
Year Ended December 31, 2014
RVA
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Intergovernmental
$ 409,000 $
409,000
$
417,476
$ 8,476
Other
25,150
25,150
25,083
(67)
Total revenues
434,150
434,150
442,559
8,409
Expenditures - General government -
Other services and charges
364,762
369,800
369,800
-
Net change in fund balances
69,388
64,350
72,759
8,409
Fund balances - Beginning
176,724
176,724
176,724
-
Fund balances - Ending
$ 246,1 12 $
241,074
$
249,483
$ 8,409
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
72,759
To adjust revenues for accruals
125
Net change in fund balance, GAAP basis
$
72,884
RVA
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Morris Performing Arts Center Capital
Year Ended December 31, 2014
IP1:3
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Charges for services
$ 100,000 $
75,000
$
79,779
$ 4,779
Other
1,500
1,725
1,353
(372)
Total revenues
101,500
76,725
81 ,1 32
4,407
Expenditures:
Culture and recreation:
Supplies
14,700
14,700
10,793
3,907
Other services and charges
23,000
38,500
21,977
16,523
Capital outlay
15,500
-
-
-
Total expenditures
53,200
53,200
32,770
20,430
Net change in fund balances
48,300
23,525
48,362
24,837
Fund balances - Beginning
456,810
456,810
456,810
-
Fund balances - Ending
$ 505,1 10 $
480,335
$
505,172
$ 24,837
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
48,362
To adjust revenues for accruals
(3,386)
To adjust expenditures for accruals
(1,268)
To adjust expenditures for encumbrances
10,248
Net change in fund balance, GAAP basis
$
53,956
IP1:3
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF Downtown
Year Ended December 31, 2014
Revenues:
Taxes
Intergovernmental
Charges for Services
Other
Total revenues
Expenditures:
Economic Development:
Other services and charges
Capital outlay
Total expenditures
Other financing sources - Transfers in
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
To adjust expenditures for encumbrances
Net change in fund balance, GAAP basis
4,412,336 5,108,778
5,079,430 (29,348)
3,318,466 3,585,669 3,530,928 54,741
2,349,245 2,243,592 263,397 1,980,195
5,667,711 5,829,261 3,794,325 2,034,936
6,000 6,000 5,929 (71)
(1,249,375) (714,483) 1 ,291 ,034 2,005,517
2,604,474 2,604,474 2,604,474 -
$ 1,355,099 $ 1,889,991 $ 3,895,508 $ 2,005,517
IMA
$ 1,291,034
(1,177,498)
22,973
192,967
$ 329,476
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
$ 3,650,000
$ 4,309,727
$ 4,309,727
$ -
401,000
401,000
400,000
(1,000)
34,000
43,700
37,703
(5,997)
327,336
354,351
332,000
(22,351
4,412,336 5,108,778
5,079,430 (29,348)
3,318,466 3,585,669 3,530,928 54,741
2,349,245 2,243,592 263,397 1,980,195
5,667,711 5,829,261 3,794,325 2,034,936
6,000 6,000 5,929 (71)
(1,249,375) (714,483) 1 ,291 ,034 2,005,517
2,604,474 2,604,474 2,604,474 -
$ 1,355,099 $ 1,889,991 $ 3,895,508 $ 2,005,517
IMA
$ 1,291,034
(1,177,498)
22,973
192,967
$ 329,476
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF Leighton Plaza
Year Ended December 31, 2014
�P1 /1
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues- Other
$ 164,303 $
194,285
$
165,150
$ (29,135)
Expenditures:
Economic Development:
Supplies
9,450
9,450
4,547
4,903
Other services and charges
1 18,923
1 18,923
101,722
17,201
Capital outlay
21,052
21,052
19,423
1,629
Total expenditures
149,425
149,425
125,692
23,733
Net change in fund balances
14,878
44,860
39,458
(5,402)
Fund balances - Beginning
133,067
133,067
133,067
-
Fund balances - Ending
$ 147,945 $
177,927
$
172,525
$ (5,402)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
39,458
To adjust revenues for accruals
6,974
To adjust expenditures for accruals
(2,885)
Net change in fund balance, GAAP basis
$
43,547
�P1 /1
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF - West Washington
Year Ended December 31, 2014
Expenditures:
Economic Development:
Other services and charges - 30,921 30,612 309
Capital outlay 648,915 626,613 8,300 618,313
Total expenditures
648,915
657,534
Variance
Net change in fund balances
Actual
With Final
543,887 617,933
Fund balances - Beginning
Budgetary
Budget
612,962 -
Budgeted Amounts
Basis
Positive
538,916 $
Original Final
Amounts
(Negative)
Revenues:
Net change in fund balance, budget basis
Taxes
$ 420,000 $ 580,988
$ 580,987
$ (1)
Other
2,000 2,500
1 ,81 2
(688)
Total revenues
422,000 583,488
582,799
(689)
Expenditures:
Economic Development:
Other services and charges - 30,921 30,612 309
Capital outlay 648,915 626,613 8,300 618,313
Total expenditures
648,915
657,534
38,912 618,622
Net change in fund balances
(226,915)
(74,046)
543,887 617,933
Fund balances - Beginning
612,962
612,962
612,962 -
Fund balances - Ending
$ 386,047 $
538,916 $
1,156,849 $ 617,933
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
543,887
To adjust revenues for accruals
(61 ,287)
To adjust expenditures for accruals
13
To adjust expenditures for encumbrances
38,900
Net change in fund balance, GAAP basis
$
521,513
IM
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Redevelopment General
Year Ended December 31, 2014
Revenues- Other
Expenditures:
Economic Development -
Other services and charges
Net change in fund balances
Fund balances - Beginning
Fund balances - Ending
BudQet/GAAP Reconciliation
Net change in fund balance, budget basis
To adjust revenues for accruals
To adjust expenditures for accruals
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
$ - $ 60 $ 45 $ (15)
20,000 15,703 4,297
- (19,940) (15,658) 4,282
25,748 25,748 25,748 -
$ 25,748 $ 5,808 $ 10,090 $ 4,282
$ (15,658)
19
6,072
Net change in fund balance, GAAP basis $ (9,567)
IVX
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Community Revitalization
Enhancement District
Year Ended December 31, 2014
�P11
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Intergovernmental
$ 650,000 $
650,000
$
-
$ (650,000)
Other
1,000
1,000
301
(699)
Total revenues
651,000
651,000
301
(650,699)
Expenditures:
Economic Development -
Other services and charges
650,950
650,950
-
650,950
Net change in fund balances
50
50
301
251
Fund balances - Beginning
9,537
9,537
9,537
-
Fund balances - Ending
$ 9,587 $
9,587
$
9,838
$ 251
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
301
To adjust revenues for accruals
(2)
Net change in fund balance, GAAP basis
$
299
�P11
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF No. 1 - Southside Development
Year Ended December 31, 2014
Expenditures:
Economic Development:
Other services and charges 7,500 804,334 800,147 4,187
Capital outlay 5,692,500 5,683,623 1,293,554 4,390,069
Total expenditures
5,700,000
6,487,957
2,093,701 4,394,256
Variance
Other financing sources - Transfers in
1,100,000
-
Actual
With Final
Net change in fund balances
(2,085,000)
(3,972,957)
Budgetary
Budget
3,439,648
Budgeted Amounts
Basis
Positive
Fund balances - Ending
Original
Final
Amounts
(Negative)
Revenues:
Net change in fund balance, budget basis
Taxes
$ 2,500,000
$ 2,500,000
$ 2,379,212
$ (120,788)
Other
15,000
15,000
9,600
(5,400)
Total revenues
2,515,000
2,515,000
2,388,812
(126,188)
Expenditures:
Economic Development:
Other services and charges 7,500 804,334 800,147 4,187
Capital outlay 5,692,500 5,683,623 1,293,554 4,390,069
Total expenditures
5,700,000
6,487,957
2,093,701 4,394,256
Other financing sources - Transfers in
1,100,000
-
- -
Net change in fund balances
(2,085,000)
(3,972,957)
295,1 1 1 4,268,068
Fund balances - Beginning
3,439,648
3,439,648
3,439,648 -
Fund balances - Ending
$ 1,354,648
$ (533,309) $
3,734,759 $ 4,268,068
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
295,1 1 1
To adjust revenues for accruals
(80,807)
To adjust expenditures for accruals
(403,497)
To adjust expenditures for encumbrances
1,222,535
Net change in fund balance, GAAP basis
$
1,033,342
14Z' f
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF No. 3 - Southside Development
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (465,831)
To adjust revenues for accruals 4,437
To adjust expenditures for accruals 656
Net change in fund balance, GAAP basis $ (460,738)
ivil
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Taxes
$ - $
27,575
$ 9,175
$ (18,400)
Other
15,000
27,000
17,145
(9,855)
Total revenues
15,000
54,575
26,320
(28,255)
Expenditures:
Economic Development -
Other services and charges
493,495
494,151
492,151
2,000
Net change in fund balances
(478,495)
(439,576)
(465,831)
(26,255)
Fund balances - Beginning
6,968,686
6,968,686
6,968,686
-
Fund balances - Ending
$ 6,490,191 $
6,529,1 10
$ 6,502,855
$ (26,255)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (465,831)
To adjust revenues for accruals 4,437
To adjust expenditures for accruals 656
Net change in fund balance, GAAP basis $ (460,738)
ivil
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF - Central Medical Service Area
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (1,1 17,006)
To adjust revenues for accruals (416,826)
To adjust expenditures for accruals 1,240,901
To adjust expenditures for encumbrances 179,125
Net change in fund balance, GAAP basis $ (I 1 3,806)
I vii
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Taxes
$ 1,600,000
$ 851,21 1
$ 851,21 1
$ -
Other
15,000
15,000
6,983
(8,017)
Total revenues
1,615,000
866,21 1
858,194
(8,017
Expenditures:
Economic Development:
Other services and charges
2,500
1 ,737,3 12
1,737,31 1
1
Capital outlay
3,700,000
2,366,192
237,889
2,128,303
Total expenditures
3,702,500
4,103,504
1,975,200
2,128,304
Net change in fund balances
(2,087,500)
(3,237,293)
(1,1 17,006)
2,120,287
Fund balances - Beginning (restated)
3,232,412
3,232,412
3,232,412
-
Fund balances - Ending
$ 1,144,912
$ (4,881)
$ 2,1 15,406
$ 2,1 20,287
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (1,1 17,006)
To adjust revenues for accruals (416,826)
To adjust expenditures for accruals 1,240,901
To adjust expenditures for encumbrances 179,125
Net change in fund balance, GAAP basis $ (I 1 3,806)
I vii
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Football Hall of Fame Capital
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues - Other $ 2,500 $ 2,500 $ 1,823 $ (677)
Expenditures:
Culture and Recreation:
Supplies 15,000 15,000 419 14,581
Other services and charges 164,659 173,567 100,590 72,977
Total expenditures
179,659
188,567
101,009 87,558
Other financing sources - Transfers in
-
98,544
98,544 -
Net change in fund balances
(177,159)
(87,523)
(642) 86,881
Fund balances - Beginning
658,407
658,407
658,407 -
Fund balances - Ending
$ 481,248 $
570,884 $
657,765 $ 86,881
BudQet/GAAP Reconciliation
Net change in fund balance, budget basis
$
(642)
To adjust revenues for accruals
451
To adjust expenditures for accruals
191
Net change in fund balance, GAAP basis
$
-
14x1
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Major Moves
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (5,268,295)
To adjust revenues for accruals (280,533)
To adjust expenditures for accruals (133,471)
To adjust expenditures for encumbrances 1,766,061
Net change in fund balance, GAAP basis $ (3,916,238)
141:3
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues- Other
$ 581,798 $
581,798
$ 536,455
$ (45,343)
Expenditures:
Highways and streets -Capital outlay
4,500,000
5,823,729
5,804,750
18,979
Net change in fund balances
(3,918,202)
(5,241,93 1)
(5,268,295)
(26,364)
Fund balances - Beginning
7,143,898
7,143,898
7,143,898
-
Fund balances - Ending
$ 3,225,696 $
1 ,901 ,967
$ 1,875,603
$ (26,364)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (5,268,295)
To adjust revenues for accruals (280,533)
To adjust expenditures for accruals (133,471)
To adjust expenditures for encumbrances 1,766,061
Net change in fund balance, GAAP basis $ (3,916,238)
141:3
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF - Northeast Development
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 1,360,166
To adjust revenues for accruals (251,446)
To adjust expenditures for accruals (1 12,340)
To adjust expenditures for encumbrances 187,524
Net change in fund balance, GAAP basis $ 1,183,904
I &A
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Taxes
$ 820,000 $
1,568,240
$ 1,568,240
$ -
Other
7,000
9,000
8,751
(249)
Total revenues
827,000
1,577,240
1,576,991
(249)
Expenditures:
Economic Development:
Other services and charges
20,000
151,577
126,659
24,918
Capital outlay
2,330,000
2,654,540
90,166
2,564,374
Total expenditures
2,350,000
2,806,1 17
216,825
2,589,292
Net change in fund balances
(1,523,000)
(1,228,877)
1,360,166
2,589,043
Fund balances - Beginning
3,008,791
3,008,791
3,008,791
-
Fund balances - Ending
$ 1,485,791 $
1,779,914
$ 4,368,957
$ 2,589,043
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 1,360,166
To adjust revenues for accruals (251,446)
To adjust expenditures for accruals (1 12,340)
To adjust expenditures for encumbrances 187,524
Net change in fund balance, GAAP basis $ 1,183,904
I &A
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF - Douglas Road
Year Ended December 31, 2014
Expenditures:
Economic Development:
Other services and charges 190,463 399,823 399,821 2
Capital outlay 155,000 - - -
Total expenditures
345,463
399,823
Variance
2
Actual
With Final
Net change in fund balances
(24,713)
Budgetary
Budget
(191)
Budgeted Amounts
Basis
Positive
294,600
Original Final
Amounts
(Negative)
Revenues:
21 7,23 1
$ (I 9 I )
Taxes
$ 320,000 $ 321,895
$ 321,895
$ -
Other
750 750
557
(193)
Total revenues
320,750 322,645
322,452
(193)
Expenditures:
Economic Development:
Other services and charges 190,463 399,823 399,821 2
Capital outlay 155,000 - - -
Total expenditures
345,463
399,823
399,821
2
Net change in fund balances
(24,713)
(77,1 78)
(77,369)
(191)
Fund balances - Beginning
294,600
294,600
294,600
-
Fund balances - Ending
$ 269,887 $
217,422 $
21 7,23 1
$ (I 9 I )
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (77,369)
To adjust revenues for accruals 200
To adjust expenditures for accruals 37,312
To adjust expenditures for encumbrances 4,200
Net change in fund balance, GAAP basis $ (35,657)
Miff
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - TIF - Northeast Residential
Year Ended December 31, 2014
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (848,575)
To adjust revenues for accruals (212,716)
To adjust expenditures for accruals 248,190
Net change in fund balance, GAAP basis $ (81 3,101)
►(ail
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues:
Taxes
$ 2,500,000 $
2,725,909
$ 2,725,909
$ -
Other
10,000
4,200
2,396
(1,804)
Total revenues
2,510,000
2,730,109
2,728,305
(1,804)
Expenditures:
Economic Development:
Other services and charges
3,323,228
3,368,654
3,362,307
6,347
Capital outlay
-
214,574
214,573
1
Total expenditures
3,323,228
3,583,228
3,576,880
6,348
Net change in fund balances
(813,228)
(853,1 19)
(848,575)
4,544
Fund balances - Beginning
2,554,079
2,554,079
2,554,079
-
Fund balances - Ending
$ 1,740,851 $
1,700,960
$ 1,705,504
$ 4,544
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ (848,575)
To adjust revenues for accruals (212,716)
To adjust expenditures for accruals 248,190
Net change in fund balance, GAAP basis $ (81 3,101)
►(ail
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Certified Technology Park
Year Ended December 31, 2014
0XIN
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues- Other
$ 1,453,000 $
1,462,000
$ 1,337,965
$ (124,035)
Expenditures -
Economic Development - Capital outlay
3,600,000
3,600,000
-
3,600,000
Net change in fund balances
(2,147,000)
(2,138,000)
1,337,965
3,475,965
Fund balances - Beginning
3,682,595
3,682,595
3,682,595
-
Fund balances - Ending
$ 1,535,595 $
1,544,595
$ 5,020,560
$ 3,475,965
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$ 1,337,965
To adjust revenues for accruals
2,610
Net change in fund balance, GAAP basis
$ 1,340,575
0XIN
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Palais Royale Historical Preservation
Year Ended December 31, 2014
Variance
Actual With Final
Budgetary Budget
Budgeted Amounts Basis Positive
Original Final Amounts (Negative)
Revenues- Other $ 16,125 $ 10,500 $ 9,766 $ (734)
Expenditures - Culture and Recreation -
Other services and charges 10,000 10,000 - 10,000
Net change in fund balances 6,125 500 9,766 9,266
Fund balances - Beginning 53,395 53,395 53,395 -
Fund balances - Ending $ 59,520 $ 53,895 $ 63,161 $ 9,266
Budget/GAAP Reconciliation
Net change in fund balance, budget basis $ 9,766
To adjust revenues for accruals 44
To adjust expenditures for accruals (1,758)
Net change in fund balance, GAAP basis $ 8,052
PON
City of South Bend, Indiana
Schedules of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual - Nonmajor Governmental Funds
Capital Projects Funds - Airport Urban Enterprise Zone
Year Ended December 31, 2014
204
Variance
Actual
With Final
Budgetary
Budget
Budgeted Amounts
Basis
Positive
Original
Final
Amounts
(Negative)
Revenues- Other
$ 1,500 $
1,500
$
1,069
$ (431)
Net change in fund balances
1,500
1,500
1,069
(43 1)
Fund balances - Beginning
376,372
376,372
376,372
-
Fund balances - Ending
$ 377,872 $
377,872
$
377,441
$ (43 1)
Budget/GAAP Reconciliation
Net change in fund balance, budget basis
$
1,069
To adjust revenues for accruals
230
Net change in fund balance, GAAP basis
$
1,299
204
City of South Bend, Indiana
Other Supplementary Information
Nonmajor Enterprise Funds
Fund Descriptions
Consolidated Building - The consolidated building fund accounts for the operation of the
consolidated St. Joseph County /South Bend Building Department.
Parking Garage - The parking garage fund accounts for the operation and maintenance of the
City's parking garages.
Solid Waste - The solid waste fund accounts for the provision of solid waste services.
Blacl<thorn Golf Course - The Blackthorn Golf Course fund accounts for the operation and
maintenance of the City's Blackthorn Golf Course.
POR
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Net Position
Nonmajor Enterprise Funds
December 31, 2014
Consolidated Blackthorn Golf
Assets
Current assets:
Cash and cash equivalents
171,242
248,724
102,281
83,501
605,748
Investments
562,739
823,753
338,744
-
1,725,236
Receivables:
Accounts
6,820
408
426,018
6,312
439,558
Interest
819
1,200
474
-
2,493
Inventory
-
-
-
6,344
6,344
Prepaid expenses
-
-
3,000
3,000
Total current assets
741,620
1,074,085
867,517
99,157
2,782,379
Noncurrent assets -
Capital assets:
Assets not subject to
depreciation
-
1,132,020
-
1,187,248
2,319,268
Assets subject to depreciation
1 ,850,553
3,743,398
2,777,960
1 ,703,419
1 0,075,330
Total noncurrent
assets
1,850,553
4,875,418
2,777,960
2,890,667
12,394,598
Total assets
2,592,173
5,949,503
3,645,477
2,989,824
15,176,977
Deferred Outflows of Resources -
Unamortized loss on sale /leaseback
-
562,654
-
-
562,654
Liabilities
Current liabilities:
Accounts payable $
15,081 $
152,447 $
157,699 $
2,720 $
327,947
Due to other funds
1,406
-
-
-
1,406
Performance deposits payable
37,437
-
37,437
Accrued liabilities and other:
Accrued payroll payable
182,018
1 16,01 1
-
298,029
Accrued interest payable
204
7,649
300
8,153
Other current payables
-
-
700
700
Capital leases
20,517
633,370
56,916
710,803
Total current liabilities
256,663
152,447
914,729
60,636
1,384,475
Noncurrent liabilities:
Advances from other funds
-
-
-
1,472,130
1,472,130
Capital leases
36,632
1,268,884
200,322
1,505,838
Total noncurrent
liabilities
36,632
1,268,884
1,672,452
2,977,968
Total liabilities
293,295
152,447
2,183,613
1,733,088
4,362,443
Deferred Inflows of Resources
Unamortized gain on sale /leaseback
-
7,970
7,970
Net Position
Net investment in capital assets
1 ,793,404
4,875,418
875,706
2,633,429
10,177,957
Unrestricted
505,474
1,476,322
586,158
(1,376,693)
1,191,261
Total net position $
2,298,878 $
6,351,740 $
1,461,864 $
1,256,736 $
11,369,218
206
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Revenue, Expenses, and Changes in Net
Position
Nonmajor Enterprise Funds
Year Ended December 31, 2014
Consolidated Blackthorn Golf
Building Parking Garage Solid Waste Course Total
Operating Revenue
Licenses and permits
$ 1,191,534 $
- $
$
$
1,191,534
Parking fees
-
953,065
7,487
(560,340)
953,065
Solid waste fees
738,779
-
4,790,653
(31,363)
4,790,653
Golf course fees
-
-
-
1,548,341
1,548,341
Other
196,037
64,153
505,059
-
765,249
Total operating
revenue
1,387,571
1,017,218
5,295,712
1,548,341
9,248,842
Operating Expenses
Operating and maintenance
3,092,889
-
4,811,696
1,586,513
9,491,098
Billing and administrative costs
30,944
830,644
465,372
130,936
1,457,896
Customer service
-
-
73,458
-
73,458
Depreciation
124,860
269,612
427,958
157,513
979,943
Total operating
expenses
3,248,693
1,100,256
5,778,484
1,874,962
12,002,395
Operating Loss
Nonoperating Revenue (Expenses)
Investment income
Interest expense
Other nonoperating revenue
(expenses) - Charges
Total nonoperating
revenue (expense)
Loss - Before contributions
Capital Contributions
Other capital contributions
Transfers in
Change in Net Position
Net Position - Beginning of year
Net Position - End of year
(1,861,122)
(83,038)
(482,772)
1,060
3,407
1,679
(1,114)
(585,895)
574,740
7,487
(560,340)
(33,042)
(3,334,563)
738,779
7,433
(556,933)
(31,363)
(1,853,689)
(639,971)
(514,135)
1,887,724
2,682
(326,621)
(2,753,553)
(147)
5,999
1,871,167
(1,114)
6,989,029
(585,895)
574,740
(147)
(581,010)
(326,768)
(3,334,563)
738,779
2,629,185
2,340,595
(637,289)
(514,135)
681,996
1,871,167
(41,717)
6,989,029
1,975,999
574,740
9,498,051
$ 2,298,878 $
6,351,740 $
1,461,864 $
1,256,736 $
11,369,218
207
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
Year Ended December 31, 2014
Net cash (used in)
Consolidated
(1,509,860)
Building Parking Garage
Cash Flows from Operating Activities
Total
Receipts from customers
$ 1,395,414 $ 1,018,330 $
Payments to suppliers
(1,335,120) (775,034)
Payments to employees
(1,798,354)
Internal activity - Payments to other
(633,712)
funds
(5,950)
Net cash (used in)
Blackthorn Golf
(1,509,860)
provided by
Course
Total
operating activities
(1,744,010)
243,296
Cash Flows from Noncapital
(1,1 18,546)
(6,906,011)
Financing Activities -
(633,712)
(4,076,837)
Transfers from other funds
2,306,560
-
Cash Flows from Capital and Related
52,362
1 ,782,417
Financing Activities
(205,785)
(1,737,880)
Proceeds from capital debt issued
27,356
2,359,625
Proceeds from sales of capital
293,788
328,401
assets
-
7,728
Purchase of capital assets
(20,781)
(56,642)
Principal paid on capital debt
(17,812)
(860,802)
Interest paid on capital debt
(1,078)
(43,204)
Net cash (used in)
provided by capital
and related
financing activities
(12,315)
(56,642)
Cash Flows from Investing Activities
Interest received on investments
404
3,156
Purchase of investment securities
(449,929)
(166,413)
Proceeds from sale and maturities of
investment securities
31,862
Net cash (used in)
provided by
investing activities
(417,663)
(163,257)
Net Increase (Decrease) in Cash and
Cash Equivalents
132,572
23,397
Cash and Cash Equivalents - Beginning
of year
38,670
225,327
Cash and Cash Equivalents - End of
(1,586,090)
Blackthorn Golf
(1,509,860)
Solid Waste
Course
Total
5,290,701
$ 1,546,473 $
9,250,918
(3,677,311)
(1,1 18,546)
(6,906,011)
(1,644,771)
(633,712)
(4,076,837)
(1,363,777)
31,139
(5,950)
1 ,466,058
52,362
1 ,782,417
(31,381)
(205,785)
(1,737,880)
-
53,065
2,359,625
7,257
293,788
328,401
7,728
-
7,728
(864,560)
(941,983)
(699,638)
(143,352)
(860,802)
(36,877)
(5,249)
(43,204)
(1,586,090)
145,187
(1,509,860)
1,205
(94)
4,671
-
-
(616,342)
252,489
38,766
323,117
253,694
38,672
(288,554)
(1,363,777)
31,139
(1,176,669)
1 ,466,058
52,362
1 ,782,417
year $ 171,242 $ 248,724 $ 102,281 $ 83,501 $ 605,748
MILf
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Cash Flows
Nonmajor Enterprise Funds (Continued)
Year Ended December 31, 2014
Balance Sheet Classification of Cash
and Cash Equivalents
Cash and investments
$
733,981
$ 1,072,477
$ 441,025
$ 83,501
$ 2,330,984
Less amounts classified as
investments
(562,739)
(823,753)
(338,744)
-
(1,725,236)
Total cash and cash
equivalents
$
171,242
$ 248,724
$ 102,281
$ 83,501
$ 605,748
Reconciliation of Operating Loss to
Net Cash from Operating Activities
Operating loss
$
(1,861,122)
$ (83,038)
$ (482,772)
$ (326,621)
$ (2,753,553)
Adjustments to reconcile operating
loss to net cash from operating
activities:
Depreciation and amortization
124,860
269,612
427,958
157,513
979,943
Changes in assets and liabilities:
Receivables
7,843
I ,1 12
(5,011)
(1,868)
2,076
Inventory
-
-
-
15,694
15,694
Prepaid expenses and other
assets
-
(3,000)
(3,000)
Accounts payable
(23,941)
55,610
(60,056)
(47,503)
(75,890)
Due to other funds
(5,950)
-
-
(5,950)
Accrued liabilities and other
14,300
88,500
102,800
Net cash (used in)
provided by
operating activities
$
(1,744,010)
$ 243,296
$ (31,381)
$ (205,785)
$ (1,737,880)
Noncash Investing, Capital, and
Financing Activities
Blackthorn advance adjustment
$
-
$ -
$
$ 216,920
$ 216,920
Capital asset contributions
1,887,724
2,682
738,779
2,629,185
209
City of South Bend, Indiana
Other Supplementary Information
Internal Service Funds
Fund Descriptions
Liability Insurance Premium Reserve - The Liability Insurance Premium Reserve fund
accounts 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 employees' contributions for
a medical insurance 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.
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.
Pa
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Net Position
Internal Service Funds
December 31, 2014
oil
Liability
Insurance
Self- Funded
Unemployment
Premium
Employee
Central
Police Take
Compensation
Reserve
Benefits
Services
Home Vehicle
Insurance
Total
Assets
Current assets:
Cash and cash equivalents
1,315,883
959,936
356,433
119,543
55,871
2,807,666
Investments
4,358,098
3,092,727
1,180,479
395,916
185,041
9,212,261
Receivables:
Accounts
-
17,654
19,011
-
-
36,665
Interest
6,348
4,526
1,700
576
269
13,419
Due from other funds
-
-
8,970
-
-
8,970
Inventory
-
850,218
850,218
Prepaid expenses
205,061
-
-
205,061
Total current assets
5,885,390
4,074,843
2,416,811
516,035
241,181
13,134,260
Noncurrent assets -
Capital assets -
Assets subject to depreciation
25,369
-
1,262,105
-
-
1,287,474
Total assets
5,910,759
4,074,843
3,678,916
516,035
241,181
14,421,734
Liabilities
Current liabilities:
Accounts payable
17,014
-
498,218
-
14,161
529,393
Due to other funds
-
1,899
860
-
2,759
Accrued liabilities and other:
Accrued payroll payable
7,952
-
109,939
117,891
Accrued interest payable
-
63
63
Compensated absences
15,253
-
117,640
132,893
Claims payable
3,939,315
1,085,259
-
5,024,574
Capital leases
-
-
6,273
6,273
Total liabilities
3,979,534
1,087,158
732,993
14,161
5,813,846
Deferred Inflows of Resources
-
-
-
-
-
Net Position
Net investment in capital assets
25,369
-
1,255,832
-
-
1,281,201
Unrestricted
1,905,856
2,987,685
1,690,091
516,035
227,020
7,326,687
Total net position
$ 1,931,225
$ 2,987,685
$ 2,945,923
$ 516,035
$ 227,020
$8,607,888
oil
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Revenue, Expenses, and Changes in
Net Position
Internal Service Funds
Year Ended December 31, 2014
ow
Liability
Insurance
Self- Funded
Unemployment
Premium
Employee
Central
Police Take
Compensation
Reserve
Benefits
Services
Home Vehicle
Insurance
Total
Operating Revenue
Employee /employer contributions
$ 2,859,719
$ 13,320,084
$ -
$ 122,233
$ 102,364
$16,404,400
Charges for sales and services
-
-
7,025,252
-
-
7,025,252
Other
162,062
6,000
21,063
-
189,125
Total operating
revenue
3,021,781
13,326,084
7,046,315
122,233
102,364
23,618,777
Operating Expenses
Other operation and maintenance
-
-
6,667,087
-
-
6,667,087
Administration
228,976
664,807
192,951
60,580
-
1,147,314
Insurance claims and premiums
3,279,546
14,139,152
-
-
1 1 1,375
17,530,073
Depreciation
9,670
-
1 1 1,887
-
121,557
Total operating
expenses
3,518,192
14,803,959
6,971,925
60,580
111,375
25,466,031
Operating (Loss) Income
(496,411)
(1,477,875)
74,390
61,653
(9,011)
(1,847,254)
Nonoperating Revenue (Expenses)
Investment income
18,044
19,629
4,081
1,723
863
44,340
Loss on sale of assets
-
-
(12,841)
-
-
(12,841)
Debt service charge
(1,459)
(1,459)
Total nonoperating
revenue
(expenses)
18,044
19,629
(10,219)
1,723
863
30,040
(Loss) Income - Before contributions
(478,367)
(1,458,246)
64,171
63,376
(8,148)
(1,817,214)
Capital Contributions -
Other capital contributions
16,017
-
16,017
Change in Net Position
(478,367)
(1,458,246)
80,188
63,376
(8,148)
(1,801,197)
Net Position - Beginning of year
2,409,592
4,445,931
2,865,735
452,659
235,168
10,409,085
Net Position - End of year
$ 1,931,225
$ 2,987,685
$ 2,945,923
$ 516,035
$ 2275020
$8,607,888
ow
City of South Bend, Indiana
213
Other Supplementary Information
Combining Statement of Cash Flows
Internal Service Funds
Year Ended December 31, 2014
Liability
Insurance
Self- Funded
Unemployment
Premium
Employee
Police Take Compensation
Reserve
Benefits
Central Services Home Vehicle Insurance Total
Cash Flow from Operating
Activities
Receipts from customers and
users $
3,021,781 $
13,316,770
$ 7,069,100 $
122,233 $ 102,364 $ 23,632,248
Payments to suppliers
(2,368,076)
(14,937,014)
(4,360,320)
- (10,532) (21,675,942)
Payments to employees
(179,508)
(2,577,509)
(111,375) (2,868,392)
Internal activity - Payments to
other funds
(5,845)
(60,580) (66,425)
Net cash provided
by (used in)
operating
activities
474,197
(1,620,244)
125,426
61,653 (19,543) (978,511)
Cash Flows from Capital and
Related Financing Activities
Proceeds from sales of capital
assets
-
(12,841)
(12,841)
Purchase of capital assets
5,947
(34,847)
(28,900)
Principal paid on capital debt
-
(5,802)
(5,802)
Interest paid on capital debt
(693)
(693)
Net cash provided
by (used in)
capital and
related financing
activities
5,947
(54,183)
(48,236)
Cash Flows from Investment
Activities
Interest received on
investments
17,258
21,153
2,483
1,632 873 43,399
Purchase of investment
securities
-
-
(90,814)
- - (90,814)
Proceeds from sale and
maturities of investment
securities
(502,993)
1,096,800
(59,173) 8,276 542,910
Net cash provided
by (used in)
investing
activities
(485,735)
1,1 17,953
(88,331)
(57,541) 9,149 495,495
Net Increase (Decrease) in Cash
and Cash Equivalents
(5,591)
(502,291)
(17,088)
4,112 (10,394) (531,252)
Cash and Cash Equivalents -
Beginningofyear
1,321,474
1,462,227
373,521
115,431 66,265 3,338,918
Cash and Cash Equivalents - End of
year $
1,315,883 $
959,936
$ 356,433 $
119,543 $ 55,871 $ 2,807,666
213
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Cash Flows
Internal Service Funds (Continued)
Year Ended December 31, 2014
Liability
Insurance Self- Funded Unemployment
Premium Employee Police Take Compensation
Reserve Benefits Central Services Home Vehicle Insurance Total
Balance Sheet Classification of
Cash and Cash Equivalents
Cash and investments
$ 5,673,981 $
4,052,663 $
1,536,912
$ 515,459 $
240,912 $
12,019,927
Less amounts classified as
investments
(4,358,098)
(3,092,727)
(1,180,479)
(395,916)
(185,041)
(9,212,261)
Total cash and cash
equivalents
$ 1,315,883 $
959,936 $
3565433
$ 1195543 $
55,871 $
2,807,666
Reconciliation of Operating (Loss)
Income to Net Cash from
Operating Activities
Operating (loss) income
$ (496,411) $
(1,477,875) $
74,390
$ 61,653 $
(9,011) $
(1,847,254)
Adjustments to reconcile
operating (loss) income to net
cash from operating activities:
Depreciation and
amortization
9,670
1 1 1,887
121,557
Changes in assets and
liabilities:
Receivables
-
(9,726)
12,544
2,818
Due from other funds
(5,845)
(5,845)
Inventory
9,318
9,318
Prepaid expenses and
other assets
(205,061)
-
(205,061)
Accounts payable
12,489
(133,055)
(124,831)
(10,532)
(255,929)
Due to other funds
-
412
412
Estimate of unfiled claims
1,148,181
-
-
1,148,181
Accrued liabilities and
other
5,329
47,963
53,292
Net cash provided
by (used in)
operating
activities
$ 474,197 $
(1,620,244) $
1255426
$ 61,653 $
(19,543) $
(978,511)
Noncash Transactions -
Capital asset contributions
$ - $
- $
16,017
$ - $
- $
16,017
214
City of South Bend, Indiana
Other Supplementary Information
Fiduciary Funds
Fund Descriptions
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.
Agency Funds
Payroll - To account for the payroll of City employees and pension benefits of the Police and
Firefighters' Pension Funds. Gross payroll and pension benefits are treated as expenditures in
other City funds and transferred into this fund, which serves as a clearing account.
Morris Palais Royale Box Office - To account for Morris Entertainment Center and Palais
Royale event advance deposits and related expenses.
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.
215
City of South Bend
Assets
Cash and cash equivalents
Investments
Receivables:
Accounts
Interest
Total assets
Liabilities
Accounts payable
Accrued liabilities and other
Customer deposits payable
Police distribution payable
Total liabilities
Net Position for Pension
Benefits and Other
Purposes
Pension Trust Funds
1937
1925 Police Firefighters'
257,328 $ 148,064 $
852,251 490,377
Total Pension
Other Supplementary Information
Statement of Assets and Liabilities
Fiduciary Funds
December 31, 2014
Agency Funds
Morris Palais Police
Royale Box Distributions Total Agency
Trust Funds Payroll Office Payable Funds
405,392 $ 301,548 $ 1,071,032 $ 802,859 $ 2,175,439
1,342,628 - - - -
-
177
177
- - - -
1,262
732
1,994
- - - -
1,1 10,841
639,350
1,750,191 $
301,548 $ 1,071,032 $ 802,859 $ 2,175,439
98 $
83 $
181 $
- $ - $ - $ -
-
186
186
301,548 - - 301,548
-
-
-
- 1,071,032 - 1,071,032
-
-
-
- - 802,859 802,859
98
269
367 $
301,548 $ 1,071,032 $ 802,859 $ 2,175,439
$ 1,110,743 $ 639,081 $ 1,749,824
216
City of South Bend, Indiana
Other Supplementary Information
Combining Statement of Changes in Fiduciary Net Position
Pension Trust Funds
Year Ended December 31, 2014
Additions
Investment income -
Interest and dividends
Contributions:
On behalf
Other
Net contributions
Total additions
Deductions
Benefit payments
Administrative expenses
Total deductions
Net Decrease in Net Position Held in Trust
Net Position - Beginning of year
Net Position - End of year
217
1937
1925 Police Firefighters'
Pension Pension Total
$ 3,759 $ 1,963 $ 5,722
6,1 1 1,865 5,129,098 11,240,963
4,329 1,484 5,813
L 1 IL IOA C 11A C01 I I 1AL 77L
6,1 19,953 5,132,545 11,252,498
6,705,815 5,407,429 12,1 13,244
1A 0 C7 1A Olin 11 077
6,716,772 5,418,349 12,135,121
(596,819) (285,804) (882,623)
1 7A7 CL1 01A OOC 1 L11 AA-7
$ 1,11 0,743 $ 639,081 $ 1 ,749,824
City of South Bend, Indiana
Other Supplementary Information
Statement of Changes in Assets and Liabilities
Agency Funds
Year Ended December 31, 2014
:
Balance at
Balance at
December 31,
January 1, 2014
Additions
Reductions
2014
Payroll
Assets
Cash and investments
$
298,697
$
102,965,651
$ (102,962,800)
$
301,548
Total assets
$
298,697
$ 102,965,651
$(102,962,800)
$
301,548
Liabilities
Accrued liabilities and other
298,697
102,965,651
(102,962,800)
301,548
Total liabilities
$
298,697
$ 102,965,651
$(102,962,800)
$
301,548
Balance at
Balance at
December 31,
January 1, 2014
Additions
Reductions
2014
Morris Palais Royale Box Office
Assets
Cash and investments
$
1,339,598
$
4,338,997
$
(4,607,563)
$
1,071,032
Total assets
$
1,339,598
$
4,338,997
$
(4,607,563)
$
1,071,032
Liabilities
Customer deposits payable
1,339,598
4,338,997
(4,607,563)
1,071,032
Total liabilities
$
1,339,598
$
4,338,997
$
(4,607,563)
$
1,071,032
Balance at
Balance at
December 31,
January 1, 2014
Additions
Reductions
2014
Police Distributions Payable
Assets
Cash and investments
$
785,912
$
144,567
$
(127,620)
$
802,859
Total assets
$
785,912
$
144,567
$
(127,620)
$
802,859
Liabilities
Police distribution payable
785,912
144,567
(127,620)
802,859
Total liabilities
$
785,912
$
144,567
$
(127,620)
$
802,859
:
Statistical Section
This part of the City of South Bend's Comprehensive Annual Financial Report presents
detailed information as a context for understanding what the information in the financial
statements, note disclosures, and required supplemental information says about the City's
overall financial health.
The statistical section is organized into the following main categories:
• 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.
• Revenue capacity - These schedules contain information to help the reader assess the
City's most significant local revenue source, property taxes, and other major revenue sources.
• 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.
• Demographic and economic information - These schedules offer demographic economic
indicators to help the reader understand the environment within which the City's
financial activities take place.
• 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.
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.
City of South Bend, Indiana
Statistical Section
Governmental activities
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total governmental activities net position
Business -type activities
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total business -type activities net position
Primary government
Invested in capital assets, net of related debt
Restricted
Unrestricted
Total primary government net position
Net Position by Component
Last Ten Fiscal Years
2005 2006(1) 2007 2008 2009 2010 2011 2012 2013 2014
$ 35,777,247 $ 208,509,577 $ 200,634,954 $ 178,178,047 $ 178,483,535 $ 186,771,216 $ 196,265,413 $ 202,779,954 $ 192,190,446 $ 168,275,521
6,138,257 5,225,642 5,370,627 11,077,687 12,825,227 8,840,610 9,354,772 8,050,418 7,990,172 8,723,878
26,957,659 24,900,036 47,150,229 56,786,214 82,877,695 96,539,932 82,271,482 71,992,457 86,413,227 116,445,385
$ 68,873,163 $ 238,635,255 $ 253,155,810 $ 246,041,948 $ 274,186,457 $ 292,151,758 $ 287,891,667 $ 282,822,829 $ 286,593,845 $ 293,444,784
$ 94,833,960 $ 97,670,533 $ 112,194,451 $ 124,705,327 $ 119,607,643 $ 122,108,095 $ 103,463,004 $ 113,193,929 $ 114,506,252 $ 136,685,811
17,942,700 22,535,858 8,273,257 8,630,542 14,075,339 13,320,967 12,937,988 29,259,933 48,267,664 26,587,012
8,751,584 7, 168,852 15,793,782 9,209,917 12,597,138 19,262,192 45,733,630 26,957,505 7,906,258 13,794,767
$ 121,528,244 $ 127,375,243 $ 136,261,490 $ 142,545,786 $ 146,280,120 $ 154,691,254 $ 162,134,622 $ 169,411,367 $ 170,680,174 $ 177,067,590
$ 130,611,207 $ 306,180,110 $ 312,829,405 $ 302,883,374 $ 298,091,178 $ 308,879,311 $ 299,728,417 $ 315,973,883 $ 306,696,698 $ 304,961,332
24,080,957 27,761,500 13,643,884 19,708,229 26,900,566 22,161,577 22,292,760 37,310,351 56,257,836 35,310,890
35,709,243 32,068,888 62,944,011 65,996,131 95,474,833 115,802,124 128,005,112 98,949,962 94,319,485 130,240,152
$ 190,401,407 $ 366,010,498 $ 389,417,300 $ 388,587,734 $ 420,466,577 $ 446,843,012 $ 450,026,289 $ 452,234,196 $ 457,274,019 $ 470,512,374
Source - City of South Bend Comprehensive Annual Financial Reports (includes prior period adjustments)
(I ) The City implemented the retroactive reporting of infrastructure assets required by GASB Statement No. 34 during 2006.
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.
219
City of South Bend, Indiana
Statistical Section
Changes in Net Position
Last Ten Fiscal Years
Business -type activities:
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Expenses
$ (12,447,141) $
(11,916,504) $
(13,061,750) $
(13,492,744) $
(12,584,679) $
(12,525,246) $
(11,972,840) $
(12,228,014) $
(15,221,865) $
(13,020,610)
Governmental activities:
(18,452,785)
(16,972,401)
(18,295,813)
(23,020,991)
(27,047,143)
(21,403,663)
(22,260,005)
(23,809,975)
(26,390,790)
(25,521,753)
General Government
$ (15,033,018) $
(17,194,920) $
(13,680,203) $
(10,253,389) $
(7,903,378) $
(8,261,861) $
(16,783,351) $
(13,788,310) $
(13,200,898) $
(19,013,453)
Public Safety
(72,450,941)
(56,600,175)
(52,751,974)
(49,728,256)
(50,800,573)
(62,106,991)
(73,530,442)
(69,977,237)
(76,023,819)
(68,783,155)
Public Works
(9,010,971)
(21,813,189)
(17,904,129)
(22,292,012)
(15,042,344)
(9,526,537)
(7,574,003)
(14,639,158)
(20,915,815)
(13,031,500)
Health and Welfare
(75,352)
(114,131)
(75,000)
(75,000)
(4,036,001)
(4,204,056)
(4,962,157)
(5,118,806)
(5,091,588)
(5,811,526)
Culture and Recreation
(8,840,970)
(14,994,300)
(16,454,667)
(18,311,807)
(17,981,839)
(16,036,194)
(15,566,794)
(21,724,589)
(26,846,471)
(16,802,311)
Community and Economic Development
(22,436,802)
(18,813,636)
(18,206,948)
(27,299,233)
(4,335,618)
(30,744,012)
(34,648,975)
(20,217,987)
(10,069,690)
(19,780,791)
Interest on Long -Term Debt
(5,943,021)
(5,841,032)
(5,859,102)
(7,080,166)
(8,049,610)
(7,339,548)
(6,798,531)
(6,134,406)
(5,961,124)
(2,497,849)
Total governmental activities expenses
$ (133,791,075) $
(135,371,383) $
(124,932,023) $
(135,039,863) $
(104,113,362) $
(134,015,143) $
(154,902,096) $
(146,481,687) $
(153,017,817) $
(139,909,059)
Business -type activities:
Water
$ (12,447,141) $
(11,916,504) $
(13,061,750) $
(13,492,744) $
(12,584,679) $
(12,525,246) $
(11,972,840) $
(12,228,014) $
(15,221,865) $
(13,020,610)
Wastewater
(18,452,785)
(16,972,401)
(18,295,813)
(23,020,991)
(27,047,143)
(21,403,663)
(22,260,005)
(23,809,975)
(26,390,790)
(25,521,753)
Century Center
(3,478,359)
(3,355,531)
(3,490,103)
(3,562,285)
(3,488,266)
(2,989,586)
(3,100,484)
(2,929,268)
(4,330,656)
(4,747,838)
Consolidated Building Department (1)
(1,047,007)
(1,102,164)
(1,090,327)
(1,108,940)
(1,113,867)
(930,120)
(871,299)
(909,376)
(1,131,815)
(3,242,320)
Parking Garage
(1,165,502)
(1,261,942)
(1,444,146)
(1,466,200)
(1,471,960)
(1,438,288)
(1,467,646)
(1,721,655)
(1,285,056)
(1,660,596)
Solid Waste
(4,920,464)
(4,187,706)
(4,072,910)
(4,299,846)
(4,036,001)
(4,204,056)
(4,962,157)
(5,118,806)
(5,091,588)
(5,811,526)
Blackthorn Golf Course
(1,736,939)
(1,811,757)
(1,811,801)
(1,829,122)
(1,881,982)
(1,995,556)
(1,689,042)
(1,841,998)
(1,497,513)
(1,874,962)
Total business -type activities net expenses
(43,248,197)
(40,608,005)
(43,266,850)
(48,780,128)
(51,623,898)
(45,486,515)
(46,323,473)
(48,559,092)
(54,949,283)
(55,879,605)
Total primary government net position
$ (177,039,272) $
(175,979,388) $
(168,198,873) $
(183,819,991) $
(155,737,260) $
(179,501,658) $
(201,225,569) $
(195,040,779) $
(207,967,100) $
(195,788,664)
Governmental activities:
Charges for services:
General Government
$ 148,150 $
6,883,104 $
6,553,121 $
6,647,223 $
6,855,830 $
6,964,269 $
1,165,018 $
2,100,103 $
1,939,865 $
1,451,438
Public Safety
2,239,368
5,132,285
4,228,405
5,035,433
5,051,827
4,916,958
4,096,566
5,079,182
5,210,272
4,992,228
Public Works
135,313
44,250
-
-
5,152
28,110
227,000
291,840
451,363
728,343
Community and Economic Development
516,570
562,807
604,873
636,722
332,454
283,420
683,503
271,366
444,839
485,938
Culture and Recreation
3,784,176
4,940,629
5,057,076
5,300,818
5,063,896
4,995,049
4,681,536
5,224,543
5,1 12,019
3,815,920
Operating Grants and Contributions
12,916,362
12,452,463
15,628,287
11,356,682
12,199,444
29,467,573
32,091,246
24,937,596
21,466,622
3,203,805
Capital Grants and Contributions
9,447,723
13,793,363
960,502
1,176,783
780,137
1,472,233
2,328,468
2,468,120
1,867,213
1,548,341
Total governmental activities program revenues
29,187,662
43,808,901
33,032,264
30,153,661
30,288,740
48,127,612
45,273,337
40,372,750
36,492,193
14,677,672
Business -type activities:
Charges for services:
Water
12,130,549
14,757,819
15,336,891
14,926,833
14,151,289
14,194,442
14,080,592
15,409,171
15,102,462
14,373,176
Wastewater
14,830,607
18,725,903
21,349,401
23,567,973
25,012,163
26,001,156
29,407,263
30,657,698
32,474,743
34,009,1 17
Century Center
1,604,352
3,1 13,264
3,371,553
3,370,802
2,873,966
2,869,010
2,894,913
2,680,076
3,463,813
2,227,171
Consolidated Building Department
1,125,312
1,039,405
1,078,258
1,169,788
977,050
875,481
899,397
1,000,381
967,667
1,387,571
Parking Garage
763,581
799,350
861,307
1,003,889
1,070,519
1,047,784
1,071,078
921,044
968,868
1,017,218
Solid Waste
3,764,229
4,177,897
4,187,821
4,343,120
4,759,530
4,745,547
4,830,342
5,081,991
5,399,044
5,295,712
Blackthorn Golf Course
1,546,244
1,565,649
1,512,150
1,493,519
1,557,951
1,479,415
1,392,999
1,669,372
1,530,402
1,548,341
Operating Grants and Contributions
1,282,780
-
-
-
-
-
-
-
-
-
CapitalGrantsandContributions
1,479,581
1,413,861
1,253,332
1,209,380
4,038,412
1,889,165
4,291,731
2,010,253
697,916
95,834
Total business -type activities program revenues
38,527,235
45,593,148
48,950,713
51,085,304
54,440,880
53,102,000
58,868,315
59,429,986
60,604,915
59,954,140
Total primary government program revenues
$ 67,714,897 $
89,402,049 $
81,982,977 $
81,238,965 $
84,729,620 $
101,229,612 $
104,141,652 $
99,802,736 $
97,097,108 $
74,631,812
220
City of South Bend, Indiana
Statistical Section
Changes in Net Position (Continued)
Last Ten Fiscal Years
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Net (Expense) /Revenue
Governmental activities $ (106,183,721) $ (81,123,122) $ (102,007,599) $ (73,959,701) $ (103,726,403) $ (106,774,484) $ 45,273,337 $ (106,108,937) $ (116,525,624) $ (125,231,387)
Business -type activities (2,080,770) 2,326,298 170,585 (538,594) 8,954,365 6,778,527 58,868,315 10,870,894 5,655,632 4,074,535
Total primary government net expense $ (108,264,491) $ (78,796,824) $ (101,837,014) $ (74,498,295) $ (94,772,038) $ (99,995,957) $ 104,141,652 $ (95,238,043) $ (110,869,992) $ (121,156,852)
General Revenues and Other Changes in Net Position
Governmental activities:
745,966
906,056
1,301,348
1,514,287
271,360
146,826
206,409
285,572
138,362
128,168
Taxes:
1,990,515
-
-
-
-
-
-
-
-
1,501,664
Property taxes $
72,743,697 $
68,256,602 $
77,120,683 $
76,109,499 $
73,882,128 $
77,315,641 $
76,445,349 $
71,775,415 $
72,018,650 $
69,221,468
County Option Income Tax
5,695,618
6,410,405
8,072,623
5,813,846
10,270,179
11,502,052
13,219,723
13,748,824
13,739,325
15,025,840
Economic Development Income Tax
3,464,152
4,013,475
4,681,134
3,788,754
4,536,245
7,335,1 13
8,044,773
8,324,878
8,177,352
8,796,821
Professional Sports Development Tax
385,553
336,281
435,791
453,268
522,788
597,406
558,268
633,904
649,996
588,054
Community Revitalization District Tax
965,052
1,000,000
1,000,000
955,315
605,623
416,149
733,100
653,185
244,623
-
Unrestricted Grants and Contributions
5,160,298
5,063,541
4,032,300
5,664,011
7,597,883
4,883,081
3,964,336
3,891,810
5,893,924
28,473,888
Unrestricted Investment earnings
3,543,469
4,762,484
6,247,113
4,961,410
859,135
868,023
1,050,768
1,317,443
762,270
951,901
Other
10,790,170
3,520,138
5,016,902
2,007,821
2,781,368
2,627,341
3,483,054
6,623,313
14,285,314
6,747,199
Transfers
33,589
44,200
3,735
34,970
(645,992)
(648,823)
3,041,176
3,879,721
4,525,187
(683,049)
Total governmental activities
102,781,598
93,407,126
106,610,281
99,788,894
100,409,357
104,895,983
110,540,547
110,848,493
120,296,641
129,122,122
Business -type activities:
Unrestricted Investment earnings
745,966
906,056
1,301,348
1,514,287
271,360
146,826
206,409
285,572
138,362
128,168
Other
1,990,515
-
-
-
-
-
-
-
-
1,501,664
Transfers
(33,589)
(44,200)
(3,735)
(34,970)
645,992
648,823
(3,041,176)
(3,879,721)
(4,525,187)
683,049
Total business -type activities
2,702,892
861,856
1,297,613
1,479,317
917,352
795,649
(2,834,767)
(3,594,149)
(4,386,825)
2,312,881
Total primary government
$ 105,484,490 $
94,268,982 $
107,907,894
$ 101,268,211 $
101,326,709 $
105,691,632 $
107,705,780
$ 107,254,344 $
115,909,816
$ 131,435,003
Special Item (Governmental activities):
Well field contamination settlement
$ - $
- $
-
$ 4,462,214 $
- $
- $
-
$ - $
-
$ -
Change in Net Position
Governmental activities $ 21,658,476 $ (8,600,473) $ 32,650,580 $ 524,705 $ (6,365,127) $ 150,169,320 $ 911,788 $ 4,739,556 $ 3,771,016 $ 3,890,735
Business -type activities 5,029,190 1,032,441 759,019 10,433,682 7,695,879 59,663,964 9,710,075 7,276,745 1,268,807 6,387,416
Total primary government $ 26,687,666 $ (7,568,032) $ 33,409,599 $ 10,958,387 $ 1,330,752 $ 209,833,284 $ 10,621,863 $ 12,016,301 $ 5,039,823 $ 10,278,151
Excludes prior period adjustments
Source: City of South Bend Comprehensive Annual Financial Reports
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
(1) In 2014, Code Enforcement and Animal Care and Control were consolidated with the Building Department to build efficiencies. Prior to 2014, these expenses were included in the general government activities.
221
City of South Bend, Indiana
Statistical Section
Fund Balances - Governmental Funds
Last Ten Fiscal Years
General fund
Reserved
Unreserved
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total - General Fund
Other Governmental Funds
Reserved
Unreserved, reported in:
Special revenue funds
Capital projects funds
Debt service funds
Nonspendable
Restricted
Committed
Assigned
Unassigned
Total - Other Governmental Funds
2005 2006 2007 2008 2009 2010 2011 I 2012 2013 2014
$ 10,581,739 $ 4,162,853 $ 2,213,970 $ 3,245,271 $ 1,516,159 $ 1,824,454 $ $ $ $
18,162,455 21,688,442 21,546,783 24,171,313 23,102,296 26,912,688 -
- - - - - - 1,115,025 958,341 656,848 558,304
327,267 - - -
255,287 165,389 516,506 -
26,233,637 27,671,353 26,495,559 27,029,101
$ 28,744,194 $ 25,851,295 $ 23,760,753 $ 27,416,584 $ 24,618,455 $ 28,737,142 $ 27,931,216 $ 28,795,083 $ 27,668,913 $ 27,587,405
$ 38,498,351 $ 34,251,520 $ 36,374,517 $ 60,213,915 $ 56,819,802 $ 62,230,229 $ - $ - $ - $
14,134,371 19,348,846 25,703,180
32,054,329 36,398,024 31,996,398
40,624,644 60,447,079 66,593,906
87,571,056 78,214,132 85,237,947
- (7,828) -
- - - -
-
-
-
37,036,839
37,706,861
22,828,476
24,807,307
44,754,037
78,326,567
95,387,879
94,203,444
11,829,074
11,142,045
20,697,026
16,413,498
77,460,284
35,180,652
35,455,190
37,175,847
(2,777,374)
(4,219,066)
(4,852,169)
(5,700,829)
93,257,366 114,039,617 128,671,603
179,839,300 171,431,958 179,464,574 168,302,860
158,137,059
169,516,402
166,899,267
Grand Total - Governmental Funds $122,001,560 $139,890,912 $152,432,356 $207,255,884 $196,050,413 $208,201,716 $196,234,076 $186,932,142 $197,185,315 $194,486,672
(1) - The City of South Bend adopted Statement No. 54 of the Governmental Accounting Standards Board requiring new classifications for Fund Balance reporting for fiscal year 2011.
Source: City of South Bend Comprehensive Annual Financial Reports
222
City of South Bend, Indiana
Statistical Section
Changes in Fund Balances - Governmental Funds
Last Ten Fiscal Years
Revenues
Taxes
Licenses, fees, and permits
Fines and forfeitures
Charges for services
Intergovernmental
Investment earnings
Other revenues
Total revenues
Expenditures
General Government
Public Safety
Public Works
Health and Welfare
Culture and Recreation
Economic Development
Capital Outlay
Debt Service:
Interest and Fiscal Charges
Principal
Total expenditures
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
$ 78,650,044
$ 84,049,414
$ 88,695,023
$ 96,930,953
$ 89,139,585
$ 101,785,765 $
99,001,213
$ 95,136,206
$ 94,829,947
$ 93,632,183
246,780
186,470
173,604
177,329
206,594
192,397
190,943
189,714
177,019
141,565
245,680
444,861
437,732
412,707
423,981
409,775
636,749
334,767
660,841
563,999
15,293,779
16,931,744
15,832,139
17,030,160
16,678,584
16,585,634
13,990,267
12,442,553
12,320,498
10,628,976
18,665,828
31,275,541
21,400,166
18,196,118
20,577,464
35,822,886
34,419,714
31,297,526
29,227,759
30,663,505
3,543,469
4,762,484
6,248,605
4,962,768
859,135
868,023
1,050,768
1,317,443
762,270
955,376
1 0,791,555
3,414,731
5,039,373
2,007,821
3,046,791
2,677,796
3,587,518
6,660,875
13,174,140
7,904,187
127,437,135
141,065,245
137,826,642
139,717,856
130,932,134
158,342,276
152,877,172
147,379,084
151,152,474
144,489,791
7,828,275 11,244,734 9,611,354 6,902,426 5,969,141 5,214,424 6,680,855 6,390,585 7,154,965 8,022,688
49,010,645 51,050,640 53,203,005 50,413,055 48,790,068 62,586,177 69,612,754 67,138,414 64,041,549 66,927,250
9,874,281 13,583,761 13,257,781 13,369,611 11,716,810 10,702,555 5,079,041 9,288,682 9,769,942 10,441,957
75,000 75,000 75,000 75,000 - - - - - -
14,226,463 13,849,622 13,469,798 14,542,481 12,733,094 12,841,596 13,816,699 18,557,986 13,956,025 13,948,089
7,531,650 9,752,254 7,710,242 9,726,718 8,938,134 17,408,376 9,698,611 3,543,180 8,068,458 7,309,130
29,299,053 16,391,192 17,293,302 26,695,208 37,485,105 21,952,522 46,691,030 39,984,127 30,748,663 29,407,934
5,793,386 6,144,611 5,718,572 7,258,201 8,053,995 7,499,683 7,186,494 6,734,305 6,1 13,043 5,360,219
7,074,887 7,435,722 7,870,166 9,040,095 9,276,363 12,552,681 13,632,195 10,822,721 13,008,105 12,882,830
130,713,640 129, 5 27,5 36 128,209,220 13 8,022,795 142,962,710 150,758,014 172,397,679 162,460,000 152,860,750 154,3 00,097
Excess of revenues
(under) over expenditures (3,276,505) 11,537,709 9,617,422 1,695,061 (12,030,576) 7,584,262 (19,520,507) (15,080,916) (1,708,276) (9,810,306)
Other Financing Sources (Uses)
Proceeds from debt issuance
10,023,189 14,050,557
2,920,287 45,622,808
1,771,318
5,280,314
3,478,239
5,660,897
7,801,455
8,436,905
Premium on debt issuance
- -
- 1,626,186
80,950
146,030
26,877
1,236,364
21,576
171,851
Proceeds from refunding
-
7,210,000
5,327,775
38,307,431
13,595,000
3,990,000
-
Payments to refunded bond escrow agent
- (8,371,711)
- -
(7,591,171)
(5,538,255)
(37,300,856)
(14,613,147)
(4,376,769)
(3,482,205)
Transfers in
8,332,742 8,928,540
7,872,575 10,574,625
8,687,172
16,314,577
22,483,564
25,368,413
26,365,239
18,478,925
Transfers out
(8,299,153) (8,884,340)
(7,868,840) (10,539,655)
(9,333,164)
(16,963,400)
(19,442,388)
(21,488,692)
(21,840,052)
(16,522,289)
Other
28,476
Total other financing
sources 10,056,778 5,723,046 2,924,022 47,283,964 825,105 4,567,041 7,552,867 9,758,835 11,961,449 7,111,663
Special Item:
Well field contamination settlement - - - - 4,462,214 - - - - -
Net change in fund balances $ 6,780,273 $ 17,260,755 $ 12,541,444 $ 48,979,025 $ (6,743,257) $ 12,151,303 $ (11,967,640) $ (5,322,081) $ 10,253,173 $ (2,698,643)
Debt service as a percentage of
noncapital expenditures (1) 11.1% 10.8% 11.4% 12.1% 17.6% 15.4% 13.8% 12.9% 13.4% 13.5%
Excludes prior period adjustments
(1) Formula = Debt service payments (principal and interest) / (Total Governmental Fund expenditures - Governmental Fund capital outlay per reconciliation)
Source: City of South Bend Comprehensive Annual Financial Reports
223
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.
City of South Bend, Indiana
Statistical Section
Property Taxes Levies and Collections
Last Ten Fiscal Years
Tax Year/
Collection Year
Per DLGF
Current
Tax Levy
Estimated Adjusted
Circuit Breaker Current Tax
Levy Levy
Reduction (County Abstract)
Current Tax
Collections
Current Tax as a Percent of
Collections Adjusted Tax Levy
Delinquent
Tax
Collections
Total Tax
Collections
Total Tax
Collections as
a Percent of
Adjusted Tax Levy
(1)
Outstanding
Delinquent
Taxes
Outstanding
Delinquent Taxes
as a Percent of
Adjusted Tax Levy
2004/2005
$ 60,833,109
$ $ 60,833,109
$ 56,1 14,865 92.24%
$ 2,335,278
$ 58,450,143
96.08%
$ 8,093,237
13.30%
2005/2006
62,058,519
62,058,519
58,849,337 94.83%
3,847,872
62,697,209
101.03%
5,495,442
8.86%
2006/2007
62,723,1 13
62,723,1 13
57,979,187 92.44%
2,289,138
60,268,325
96.09%
7,41 1,505
11.82%
2007/2008
65,534,282
65,534,282
59,589,537 90.93%
4,113,095
63,702,632
97.21%
2,831,650
4.32%
2008/2009
64,546,050
7,863,846 56,682,204
47,497,697 83.80%
3,355,161
50,852,858
89.72%
5,810,503
10.25%
2009/2010
66,929,179
14,346,1 10 52,583,069
41,813,442 79.52%
6,380,600
48,194,042
91.65%
10,026,236
19.07%
2010/2011
68,662,101
17,692,787 50,969,314
40,876,844 80.20%
5,791,920
46,668,764
91.56%
8,165,775
16.02%
2011/2012
70,756,844
23,965,911 46,790,933
42,598,817 91.04%
5,111,380
47,710,197
101.96%
9,550,891
20.41%
2012/2013
72,696,497
27,863,156 44,833,341
38,721,788 86.37%
5,200,000
43,921,788
97.97%
11,146,473
24.86%
2013/2014
73,981,565
27,051,751 46,929,814
41,370,637 88.15%
3,134,526
44,505,163
94.83%
8,745,941
18.64%
Source - St. Joseph County Auditor's Settlement Worksheets and Abstract. City of South Bend budget forms approved by the
Department of Local Government Finance (DLGF).
Data provided for General Fund, Parks
& Recreation, Cumulative Capital Development, Fire Pension and Police Pension Funds.
Excludes College
Football Hall
of Fame and Tax Increment Financing Funds.
Delinquent tax collections 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.
Total collections may exceed 100% of
adjusted tax levy as prior year collections are not broken out separately by the St. Joseph County Auditor.
(1) Outstanding Delinquent
Taxes are reported in the aggregate as of the end of each year and are not cumulative.
224
City of South Bend, Indiana
Statistical Section
Direct and Overlapping Property Tax Rates
Last Ten Fiscal Years
(Rate per $100 of Net Assessed Value)
Source: St. Joseph County Auditor's Office - Certified Tax Rate Schedules - Rates presented for Portage Township in South Bend
(1) Includes State of Indiana, Redevelopment Commission (Hall of Fame), South Bend Transportation and South Bend Regional Airport.
(2) Firefighters' Pension and Police Pension no longer tax burden for the City of South Bend as the State of Indiana has assumed responsibility for funding these programs.
(3) 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 I % (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.
225
City Direct Rates
Overlapping Rates (3)
Cumulative
Tax Year/
General
Parks/
Firefighters'
Police
Capital
Total
St. Joseph
Schools
Total
Grand
Collection Year
Fund
Recreation
Pension
Pension
Development
Direct
County
Districts
Township
Library
Other (1)
Overlapping
Total
2003/2004
1.6871
0.2859
0.0532
0.0477
0.0376
2.1115
0.7652
1.6201
0.0923
0.1830
0.2209
2.8815
4.9930
2004/2005
1.6845
0.2902
0.0540
0.0485
0.0376
2.1148
0.7831
1.5969
0.0276
0.1854
0.1828
2.7758
4.8906
2005/2006
1.7386
0.2981
0.0554
0.0498
0.0376
2.1795
0.9899
1.6033
0.0269
0.2027
0.1501
2.9729
5.1524
2006/2007
1.6838
0.2858
0.0531
0.0477
0.0342
2.1046
0.8711
1.5419
0.0285
0.1957
0.1737
2.8109
4.9155
2007/2008
1.7924
0.2979
0.0579
0.0572
0.0342
2.2396
0.7576
1.5417
0.0482
0.2216
0.1944
2.7635
5.0031
2008/2009
1.9777
0.3656
0.0117
0.0189
0.0342
2.4081
0.5693
1.0297
0.0537
0.2257
0.1733
2.0517
4.4598
2009/2010 (2)
2.2536
0.4401
-
-
0.0342
2.7279
0.5866
1.0728
0.0406
0.2657
0.1835
2.1492
4.8771
2010/2011
2.4381
0.4818
0.0342
2.9541
0.5424
1.2211
0.0438
0.3027
0.1958
2.3058
5.2599
2011/2012
2.4954
0.4957
0.0328
3.0239
0.6212
1.1931
0.0464
0.2941
0.1817
2.3365
5.3604
2012/2013
2.5678
0.5102
0.0328
3.1108
0.6731
1.3493
0.0453
0.3227
0.1971
2.5875
5.6983
2013/2014
2.7977
0.5608
0.0328
3.3913
0.7058
1.3577
0.0505
0.3309
0.1849
2.6298
6.0211
Source: St. Joseph County Auditor's Office - Certified Tax Rate Schedules - Rates presented for Portage Township in South Bend
(1) Includes State of Indiana, Redevelopment Commission (Hall of Fame), South Bend Transportation and South Bend Regional Airport.
(2) Firefighters' Pension and Police Pension no longer tax burden for the City of South Bend as the State of Indiana has assumed responsibility for funding these programs.
(3) 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 I % (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.
225
City of South Bend, Indiana
Statistical Section
Detail of Net Assessed Valuation
(Assessment for the Year 2013 Payable in 2014)
Value of land
Value of improvements
Total value of real estate
Less: Mortgage, veterans, blind, age
65 and other exemptions
Tax- exempt property
Investment deduction
Tax increment financing
Tax abatements
Net value of real estate
South Bend South Bend South Bend South Bend South Bend South Bend
Centre Twp Clay Twp German Twp Penn Twp Warren Twp Portage Twp Totals Percent
$ 108,897,100 $ 25,180,600 $ 70,082,200 $ 16,860,800 $ 2,104,100 $ 376,407,050 $ 599,531,850
455,679,500 118,920,100 416,802,200 84,056,900 23,157,700 2,501,609,250 3,600,225,650
564,576,600 144,100,700 486,8849400 1009917,700 25,261,800 2,8789016,300 4,199,757,500
(226,782,879)
(34,751,678)
(81,826,030)
(26,878,588)
(956,849,205)
(1,327,088,380)
(41,595,520)
(7,886,172)
(31,913,930)
(9,323,600)
(338,719,623)
(429,438,845)
Investment deduction
4,842,882,200
(15,393,696)
(15,393,696)
(2,220,700)
(2,220,700)
(54,830,088)
(8,296,644)
(254,036,780)
7,793,1 10 147,962,247
(23,635,380) (372,649,260)
(713,448,152)
(3,509,402)
-
( 16,005,217)
(2,044,390)
( 1,626,420) ( 16,703,842)
(39,889,271)
237,858,711
93,166,206
103,102,443
62,671,122
- 1,190,873,670
1,687,672,152 76.37%
Gross personal property assessments 27,588,490
7,943,500 165,860,160
2,093,660 6,867,500 342,519,210
552,872,520
Less: Tax abatements -
- (14,974,063)
- - (7,448,676)
(22,422,739)
Tax - exempt property (1,524,050)
(150,390) (2,923,850)
(938,290) (77,717,165)
(83,253,745)
Investment deduction
4,842,882,200
(15,393,696)
(15,393,696)
Tax increment financing -
- -
- - -
-
Net value of personal property 26,064,440
7,793,1 10 147,962,247
1,155,370 6,867,500 241,959,673
431,802,340 19.54%
Net value of utilities
Total net assessed valuation
Percentage of Total
Summary
11,365,950 3,708,780 7,323,120 1,088,910 338,560 66,426,860 90,252,180 4.08%
$ 275,289,101 $ 104,668,096 $ 258,387,810 $ 64,915,402 $ 7,206,060 $ 1,499,260,203 $ 2,209,726,672 100.00%
12.46% 4.74% 11.69% 2.94% 0.33% 67.85% 100.00%
Total net assessed valuation $ 1,687,672,152 $ 522,054,520 $ 2,209,726,672 45.63%
Percent 76.37% 23.63% 100.00%
Source: St. Joseph County Auditor's Office - Information from the County Abstract prepared by the Indiana Department of Local Government Finance.
226
Real
Personal Property/
Property
Utilities
Total
Percent
Total value
$ 4,199,757,500
$ 643,124,700 $
4,842,882,200
100.00%
Deductions and exemptions
(1,329,309,080)
(15,393,696)
(1,344,702,776)
- 27.77%
Tax exempt property
(429,438,845)
(83,253,745)
(512,692,590)
- 10.59%
Tax increment financing
(713,448,152)
(713,448,152)
- 14.73%
Tax abatements
(39,889,271)
(22,422,739)
(62,312,010)
-1.29%
Total net assessed valuation $ 1,687,672,152 $ 522,054,520 $ 2,209,726,672 45.63%
Percent 76.37% 23.63% 100.00%
Source: St. Joseph County Auditor's Office - Information from the County Abstract prepared by the Indiana Department of Local Government Finance.
226
City of South Bend, Indiana
Statistical Section
Assessed Value and Actual Value of Taxable Property
Last Ten Fiscal Years
(1) Non -taxed property includes adjustments for deductions and exemptions, tax exempt property, tax increment financing property, and
tax abatements.
(2) Excludes Redevelopment Commission (Hall of Fame) tax rate.
Source: St. Joseph County Auditor's Office
227
(2)
Gross Assessed Values
Less:
Total Net
City
Tax Year/
Real
Personal
Utilities
Total
Non -Taxed
Taxable
Tax
%
Collection Year
Property
Property
Property
Value
Property (1)
Value
Rate
Taxable
2004/2005
$ 3,764,507,180
$ 689,419,365
$ 105,604,270
$ 4,559,530,815
$ 1,740,625,997
$ 2,818,904,818
2.1148
61.82%
2005/2006
3,789,447,190
655,066,401
98,165,420
4,542,679,011
1,707,413,121
2,835,265,890
2.1795
62.41%
2006/2007
4,374,431,415
544,460,152
90,443,780
5,009,335,347
1,986,978,200
3,022,357,147
2.1046
60.33%
2007/2008
4,420,513,240
527,383,785
92,736,090
5,040,633,1 15
2,064,552,317
2,976,080,798
2.2396
59.04%
2008/2009
4,698,989,240
592,538,950
95,891,770
5,387,419,960
2,718,532,541
2,668,887,419
2.4081
49.54%
2009/2010
4,368,497,000
604,951,450
98,433,750
5,071,882,200
2,618,376,627
2,453,505,573
2.7279
48.37%
2010/2011
4,339,037,300
551,819,290
101,009,760
4,991,866,350
2,667,414,488
2,324,451,862
2.9541
46.56%
2011/2012
4,255,238,900
560,331,660
95,165,650
4,910,736,210
2,529,861,602
2,380,874,608
3.0239
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
3.1108
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
3.3913
45.63%
(1) Non -taxed property includes adjustments for deductions and exemptions, tax exempt property, tax increment financing property, and
tax abatements.
(2) Excludes Redevelopment Commission (Hall of Fame) tax rate.
Source: St. Joseph County Auditor's Office
227
City of South Bend, Indiana
Statistical Section
Net Assessed Value of Taxable Property
Last Ten Fiscal Years
Tax Year/
Real
Net Assessed
Value
Personal
Net Assessed
Utilities
Net Assessed
Total
Net Assessed
Value
Percent
Change
2004/2005
$ 2,179,070,901
$ 534,229,647
$ 105,604,270
$ 2,818,904,818
0.39%
2005/2006
2,200,1 18,689
536,981,781
98,165,420
2,835,265,890
0.58%
2006/2007
2,520,098,365
411,815,002
90,443,780
3,022,357,147
6.60%
2007/2008
2,493,481,003
389,863,705
92,736,090
2,976,080,798
-1.53%
2008/2009
2,137,129,242
435,866,407
95,891,770
2,668,887,419
- 10.32%
2009/2010
1,911,818,036
443,253,787
98,433,750
2,453,505,573
-8.07%
2010/2011
1,809,523,734
413,918,368
101,009,760
2,324,451,862
-5.26%
2011/2012
1,858,836,588
426,872,370
95,165,650
2,380,874,608
2.43%
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%
Source: St. Joseph County Auditor's office
228
City of South Bend, Indiana
Statistical Section
Assessed Value of Taxable Property
2004-2014
Net
Tax Year/ Total Tax Exempt Tax Increment Tax Assessed
Collection Year Gross Valuation Deductions (1) PYODerty Financing Abatements Valuation
2004/2005 $ 4,559,530,815 $ (867,415,614) $ (462,449,832) $ (269,578,611) $ (141,181,940) $ 2,818,904,818
2005/2006
4,542,679,011
(867,578,331)
(413,587,899)
(290,451,066)
(135,795,825)
2,835,265,890
2006/2007
5,009,335,347
(1,014,750,501)
(494,545,149)
(382,668,480)
(95,014,070)
3,022,357,147
2007/2008
5,040,633,115
(996,41 3,450)
(494,748,890)
(471 ,656,927)
(101,733,050)
2,976,080,798
2008/2009
5,387,419,960
(1,557,329,781)
(436,861,027)
(625,910,065)
(98,431,668)
2,668,887,419
2009/2010
5,071,882,200
(1,344,563,829)
(449,848,037)
(707,096,696)
(116,868,065)
2,453,505,573
2010/2011
4,991,866,350
(1,353,769,271)
(439,343,852)
(777,038,302)
(97,263,063)
2,324,451,862
2011/2012
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
(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.
2014 Deductions
Homestead Standard Deduction
$ 865,700,222
Supplemental Standard Deduction
370,952,895
Mortgage Deduction
46,396,568
Veteran's Deduction
10,105,601
Age 65 and Over Deduction
27,283,686
Energy Systems Deduction
403,600
Blind & Disabled Deduction
6,245,808
Investment Deduction
17,614,396
Total
$ 1,344,702,776
Source: St. Joseph County Auditor's Office Abstract
091
City of South Bend, Indiana
Statistical Section
Property Tax Collections - Cash Basis
2005-2014
Fund Name
General Fund
Excess Levy
Parks and Recreation
Redevelopment Bonds Studebaker Corridor
College Football Hall of Fame Debt Service
Airport TIF District (1)
Cumulative Capital Development
Sample -Ewing TIF District (1)
South Bend Central Development Area TIF
West Washington Street TIF District
Central Medical Service Area TIF District
Northeast TIF District
Southside Development Area TIF District
Erskine Commons TIF District (5)
Erskine Village TIF District
Douglas Road TIF District
Northeast Residential TIF
Airport Urban Enterprise
Fire Department Employees Pension (4)
Police Department Employees Pension (4)
Total
Source - City Accounting System
(1) Fund 414 closed out during 2008 into Fund 324.
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Actual Actual Actual Actual (2) Actual (3) Actual Actual Actual Actual Actual
$44,999,550
$48,768,150
$48,720,726
$14,574,480
$79,162,937
$38,780,847
$38,514,550
$39,368,431
$36,251,397
$36,708,989
-
-
-
-
-
-
-
-
-
3,648
7,754,973
8,363,955
8,271,741
2,461,101
13,919,096
7,591,932
7,613,760
7,824,056
7,207,060
7,365,388
565,420
-
11,590
-
-
-
-
-
-
-
1,246,067
899,472
1,127,140
360,682
2,362,057
1,488,453
1,549,954
1,133,205
1,268,179
497,768
6,246,028
7,515,744
8,851,077
33,400
10,808,912
21,508,430
11,187,768
11,631,287
13,340,354
14,284,734
1,004,779
1,054,963
989,824
291,600
1,420,833
587,063
540,454
517,710
463,331
430,786
525,671
732,356
778,093
-
-
-
-
-
-
-
2,359,430
3,283,075
3,276,169
12,696
3,870,188
7,336,1 17
3,633,473
3,671,478
2,590,808
4,309,727
193,911
255,510
287,095
1,785
358,844
860,049
431,085
422,715
493,608
580,987
329,269
333,585
928,113
2,793
919,174
3,524,962
1,704,238
1,606,915
1,221,676
851,211
-
-
13,468
-
22,191
195,400
715,063
1,351,048
841,627
1,568,240
25,351
28,565
457,985
1,756
355,596
4,094,135
1,808,952
2,466,203
2,404,416
2,379,212
548
2,585
2,891
10
1,240,184
5,978,592
784,373
-
-
-
109,248
305,399
775,622
2,713
1,531,403
3,759,287
1,603,182
-
1,311,129
9,175
-
-
13,941
-
125,294
460,760
306,053
285,713
323,939
321,895
-
-
1,815,829
2,446,103
2,514,048
2,262,765
2,725,909
-
-
-
-
-
301,430
123,165
1 1 1,721
-
-
1,443,033
1,554,387
1,536,839
462,375
1,437,539
(5,867)
-
-
1,296,055
1,397,265
1,380,555
425,760
1,609,905
(9,479)
$68,099,333 $74,495,011 $77,422,869 $18,631, 151 $1 19,144, 153 $98,2679940 $72,962,173 $72,904,530 $69,980,289 $729037,669
(2) Delays in sending out property tax bills until December 19, 2008 (with an on -time due date of February 20, 2009) resulted in interfund borrowing in the General Fund (101), Parks
and Recreation Fund (20 1) and the College Football Hall of Fame Debt Service Fund (3 13) at year end. The remainder of property tax revenue was received during the first half of
2009 with final settlement with the St. Joseph County Auditor in July 2009.
(3) Includes collections of 2008 taxes as noted above. Tax Increment Financing (TIF) 2009 property tax collections were received from the County Auditor on January 21, 2010.
(4) Property tax levy for Police and Fire pension plans eliminated. Funding provided by the State of Indiana.
(5) Erskine Commons TIF District funds were released and outstanding bonds were paid off.
230
City of South Bend, Indiana
Statistical Section
2014 Circuit Breaker Property Tax Cap Credits
(2 %) (3 %)
Taxing (I %) Other Residential A11 Other Total
Unit Name Homsesteads and Farmland Real /Personal Elderly Credits
City of South Bend (101,168
population)
South Bend Civil City
$ 5,969,203 $
1 1,631,433
$ 1 1,094,504
$ 12,910
$ 28,708,050
Hall of Fame Bond
-
-
-
144
144
TIF - SB So. # I Centre
37,627
978,240
-
1,015,867
TIF - SB NE Clay
-
9,351
9,351
TIF- Douglas Road EDA
-
2,813
143,255
-
146,068
TIF - Airport - SB German
35,075
396,007
4,108,866
2,626
4,542,574
TIF - SB Central Allocation Area
14,785
494,080
1,687,214
-
2,196,079
TIF - SB West Washington
6,923
200,816
151,663
16
359,418
TIF - Airport - SB Portage
32,650
1,060,930
1,071,356
5
2,164,941
TIF - SB Medical Service District
355
71,502
310,1 1 1
381,968
TIF - SB So. # I Portage
-
49,202
73,072
122,274
TIF - SB NE Portage
-
800,728
339,647
1,140,375
TIF - NE Portage Housing
15,1 18
1,287,587
565,652
1,868,357
TIF - Airport - SB Warren
-
-
420,148
-
420,148
Total Credits
6,074,109
16,032,725
20,953,079
15,701
43,075,614
Per Capita Credits
60.04
158.48
207.11
0.16
425.78
Total
2010
Per Capita
Local Unit
Credits
Population
Credits
South Bend Civil City
$ 28,708,050
101,168
$ 283.77
Anderson Civil City
9,188,830
56,120
163.74
East Chicago Civil City
8,109,300
29,698
273.06
Elkhart Civil City
10,810,630
50,949
212.19
Evansville Civil City
8,320,907
1 17,429
70.86
Fort Wayne Civil City
16,724,107
253,691
65.92
Gary Civil City
25,764,073
80,294
320.87
Goshen Civil City
4,507,460
31,719
142.11
Hammond Civil City
5,529,898
80,830
68.41
Jeffersonville Civil City
4,186,833
44,953
93.14
Kokomo Civil City
7,221,834
45,468
158.83
Lafayette Civil City
1,584,752
61,140
25.92
Laporte Civil City
1,708,344
22,053
77.47
Mishawka Civil City
4,204,454
48,252
87.14
Muncie Civil City
13,386,261
70,085
191.00
Noblesville Civil City
5,134,842
51,969
98.81
Saint Joseph County
7,191,331
266,931
26.94
South Bend School Corporation
6,751,801
101,168
66.74
Terre Haute Civil City
9,859,237
60,785
1 62.20
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.
Sources - Circuit Breaker Report. Prepared by the Legislative Services Agency, December 17, 2014 (www.iga.in.gov).
County Property Tax Studies, Saint Joseph County, Property Tax Changes in Saint Joseph County Between
2013 and 2014. Prepared by the Legislative Services Agency, September 2014, (www.iga.gov).
2010 Population - American Fact Finder www. Factfinder.census.gov
231
City of South Bend, Indiana
Statistical Section
Principle Property Taxpayers - Current and Nine Years Ago
December 31, 2014
2014 2005
Net Assessed Percent Net Assessed Percent
Taxpayer Type of Business Value Rank of Total Value Rank of Total
Honeywell International, Inc.
Airplane and Auto Parts
Indiana Bell
Utility
Indiana Michigan Power Company - AEP
Utility
Edward Rose of Indiana
Apartments and Real Estate
Federal -Mogul Powertrain Systems
Automotive Parts
Beacon Health Systems, Inc. - Memorial Hospital
Healthcare
The Tire Rack
Automotive Parts
Wal -Mart
Department Store
KSK Scottsdale Mall
Commercial Real Estate
NIPSCO
Utility
Home Properties Maple Lane II LLC
Apartments and Real Estate
Walnut Grove Mutual Housing Corp
Apartments and Real Estate
Can - American South Bend Limited
Apartments and Real Estate
Dwellco II Limited Partnership
Apartments and Real Estate
Ameritech
Communications
Meijer Stores Limited Partnership
Department Store
Amico Turtle Creek
Apartments and Real Estate
Total Net Assessed Value - Ten Largest Taxpayers
Total Net Assessed Value
Source:
St. Joseph County Auditor
2014 Budget Order
2005 Comprehensive Annual Financial Report
$ 51,150,670
1
2.31 % $
10,686,900
6
0.38 %
46,635,290
2
2.11
37,253,440
3
1.69
36,374,900
4
1.65
40,418,500
2
1.43
28,899,820
5
1.31
24,906,894
6
1.13
23,605,600
7
1.07
21,310,400
8
0.96
9,189,400
10
0.33
20,827,700
9
0.94
20,768,310
10
0.94
57,087,800
1
2.03
33,450,900
3
1.19
12,386,000
4
0.44
11,131,000
5
0.39
10,563,700
7
0.37
9,329,400
8
0.33
9.239.000
9
0.33
S I I ,1 U,U14
$ 2,209,7269672
232
11.79 % $ 203,482,600 7.22%
100.00 % $ 2,81899409818 100.00%
City of South Bend, Indiana
Statistical Section
Local Option Income Tax Revenue
Last Ten Years
COUNTY ECONOMIC DEVELOPMENT INCOME TAX ( CEDIT) REVENUE
(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.
(2) The CEDIT tax rate for 2010 and subsequent years was increased by City of South Bend Common Council
and the Saint Joseph County Common Council.
(3) 2012 actual CEDIT payments include $744,159 underpaid in 2011 due to a State of Indiana accounting error.
Source - State of Department of Local Government Finance CEDIT Distribution Reports
Actual City Collections During Year per City Accounting System
233
Total Est
South Bend
South Bend
Actual City
Distribution
EDIT (1)
County EDIT
Rate of
EDIT
Rate of
as a Percent
Collections
Year
Tax Rate
Collections
Growth
Distribution
Growth
of Total
During Year
2005
0.20%
$ 8,984,150
-1.34%
$ 3,464,152
0.45%
38.56%
$ 3,464,152
2006
0.20%
10,610,460
18.10%
4,013,475
15.86%
37.83%
4,013,475
2007
0.20%
10,558,004
-0.49%
3,702,467
-7.75%
35.07%
3,702,467
2008
0.20%
11,136,493
5.48%
3,997,997
7.98%
35.90%
3,997,997
2009
0.20%
11,938,605
7.20%
4,612,694
15.38%
38.64%
3,843,912
2010 (2)
0.40%
22,789,919
90.89%
8,321,633
80.41%
36.51%
9,090,415
2011
0.40%
18,826,685
- 17.39%
7,300,866
- 12.27%
38.78%
7,300,866
2012 (3)
0.40%
17,649,256
-6.25%
8,324,626
14.02%
47.17%
9,068,785
2013
0.40%
20,61 1,415
16.78%
8,177,352
-1.77%
39.67%
8,177,352
2014
0.40%
22,063,091
7.04%
8,796,821
7.58%
39.87%
8,796,821
Total
$155,168,078
$60,712,083
39.13%
$61,456,242
(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.
(2) The CEDIT tax rate for 2010 and subsequent years was increased by City of South Bend Common Council
and the Saint Joseph County Common Council.
(3) 2012 actual CEDIT payments include $744,159 underpaid in 2011 due to a State of Indiana accounting error.
Source - State of Department of Local Government Finance CEDIT Distribution Reports
Actual City Collections During Year per City Accounting System
233
City of South Bend, Indiana
Statistical Section
Local Option Income Tax Revenue
Last Ten Years
Total
$ 218,353,137
$ 71,435,522
32.72% $ 72,267,713
(1) This tax was first enacted as of July 1, 1997 at the rate of 0.2% of City residents' adjusted gross income. The COIT
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.
(2) 2012 actual COIT collections include $918,751 underpaid in 2011 due to a State of Indiana accounting error.
Source - State of Indiana Department of Local Government Finance COIT Distribution Reports
Actual City Collections During Year per City Accounting System
234
COUNTY OPTION INCOME TAX (COIT) REVENUE
Total
South Bend
South Bend
Actual City
Distribution
COIT
County COIT
Rate of
COIT
Rate of
as a Percent
Collections
Year
Tax Rate (1)
Distributions
Growth
Distribution
Growth
of Total
During Year
2005
0.60%
$ 16,628,131
- 24.34%
$ 5,490,218
- 22.56%
33.02% $
5,695,618
2006
0.60%
21,276,623
27.96%
6,950,396
26.60%
32.67%
6,410,405
2007
0.60%
16,993,346
- 20.13%
5,160,903
- 25.75%
30.37%
5,816,766
2008
0.60%
20,689,958
21.75%
6,382,478
23.67%
30.85%
6,192,452
2009
0.60%
26,973,887
30.37%
8,952,424
40.27%
33.19%
8,302,694
2010
0.60%
25,147,806
-6.77%
7,855,776
- 12.25%
31.24%
7,648,824
2011
0.60%
19,907,430
- 20.84%
6,458,586
- 17.79%
32.44%
7,097,462
2012 (2)
0.60%
22,536,457
13.21%
7,691,991
19.10%
34.13%
8,610,742
2013
0.60%
22,923,958
1.72%
7,846,939
2.01%
34.23%
7,846,939
2014
0.60%
25,275,541
10.26%
8,645,811
10.18%
34.21%
8,645,811
Total
$ 218,353,137
$ 71,435,522
32.72% $ 72,267,713
(1) This tax was first enacted as of July 1, 1997 at the rate of 0.2% of City residents' adjusted gross income. The COIT
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.
(2) 2012 actual COIT collections include $918,751 underpaid in 2011 due to a State of Indiana accounting error.
Source - State of Indiana Department of Local Government Finance COIT Distribution Reports
Actual City Collections During Year per City Accounting System
234
City of South Bend, Indiana
Statistical Section
Local Option Income Tax Revenue
Last Ten Years
ICJ .14 14--fil 9:1 ed 11014M W01a0MzIIzWe] 1411 EX IM:VA4ZL11y
(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.
(2) 2012 actual Public Safety LOIT collections include $549,267 underpaid in 201 1 due to a State of Indiana accounting error.
Source - State of Indiana Department of Local Government Finance WIT Public Safety Distribution Reports
Actual City Collections During Year per City Accounting System
235
Total
South Bend
South Bend
Actual City
Distribution
PS WIT
County WIT
Rate of
WIT
Rate of
as a Percent
Collections
Year
Tax Rate
Distributions
Growth
Distribution
Growth
of Total
During Year
2010 (1)
0.25%
$ 13,846,267
100.00%
$ 6,078,454
100.00%
43.90%
$ 6,078,454
2011
0.25%
11,371,882
- 17.87%
5,293,619
-12.91%
46.55%
5,293,619
2012 (2)
0.25%
10,644,975
-6.39%
6,056,334
14.41%
56.89%
6,605,601
2013
0.25%
12,457,864
17.03%
5,892,356
-2.71%
47.30%
5,892,386
2014
0.25%
13,476,753
8.18%
6,380,029
8.28%
47.34%
6,380,029
Total
$61,797,741
$29,700,792
48.06%
$30,250,089
(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.
(2) 2012 actual Public Safety LOIT collections include $549,267 underpaid in 201 1 due to a State of Indiana accounting error.
Source - State of Indiana Department of Local Government Finance WIT Public Safety Distribution Reports
Actual City Collections During Year per City Accounting System
235
City of South Bend, Indiana
Statistical Section
Total County Income Tax Distributions by Taxing Unit
Last Ten Years
Unit of Government 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Total County Certified Distribution
Less: Homestead Credit (1)
Total Distributive Shares
Distributive Shares/Total County Distribution
Amount
St. Joseph County
Townships
City of South Bend - Civil City
City of South Bend - Redevelopment
Other Cities and Towns
Libraries
Special Districts
Total
Percentage of Distribution
St. Joseph County
Townships
City of South Bend - Civil City
City of South Bend - Redevelopment
Other Cities and Towns
Libraries
Special Districts
Total
$ 26,484,316
$ 31,044,322
$ 30,859,812
$ 32,574,042
$ 34,801,729
$ 33,231,041
$ 27,292,516
$ 29,898,874
$ 29,898,874
$ 32,344,207
(9,856,185)
(9,767,699)
(13,866,466)
(11,884,084)
(7,827,842)
(8,083,235)
(7,385,086)
(7,362,417)
(6,974,918)
(7,068,666)
$ 16,628,131
$ 21,276,623
$ 16,993,346
$ 20,689,958
$ 26,973,887
$ 25,147,806
$ 19,907,430
$ 22,536,457
$ 22,923,956
$ 25,275,541
183,538
217,267
83,453
116,097
203,918
178,046
154,363
184,790
135,330
161,972
62.78%
68.54%
55.07%
63.52%
77.51%
75.68%
72.94%
75.38%
76.67%
78.15%
$ 6,427,640
$ 8,440,988
$ 7,376,623
$ 8,825,206
$ 10,358,300
$ 9,819,576
$ 7,383,180
$ 7,986,750
$ 8,460,192
$ 9,314,201
759,050
834,727
648,364
820,241
1,180,913
1,168,352
1,054,827
1,244,481
954,332
1,069,408
5,306,680
6,733,129
5,077,450
6,266,381
8,748,506
7,677,730
6,304,224
7,511,976
7,711,609
8,483,839
183,538
217,267
83,453
116,097
203,918
178,046
154,363
184,790
135,330
161,972
2,028,358
2,616,698
1,982,192
2,367,929
3,592,330
3,462,786
2,667,400
3,077,335
3,137,086
3,378,481
1,319,023
1,706,495
1,285,029
1,646,819
2,007,809
2,042,942
1,762,365
1,879,376
1,849,933
2,126,185
603,842
727,319
540,235
647,285
882,111
798,374
581,071
651,749
675,474
741,455
100.00%
100.00%
100.000/0
100.00%
100.00%
100.000/0
100.00%
100.00%
100.00%
100.00%
$ 16,628,131
$ 21,276,623
$ 16,993,346
$ 20,689,958
$ 26,973,887
$ 25,147,806
$ 19,907,430
$ 22,536,457
$ 22,923,956
$ 25,275,541
38.66%
39.67%
43.41%
42.65%
38.40%
39.05%
37.09%
35.44%
36.91%
36.85%
4.56%
3.92%
3.82%
3.96%
4.38%
4.65%
5.30%
5.52%
4.16%
4.23%
31.91%
31.65%
29.88%
30.29%
32.43%
30.53%
31.67%
33.33%
33.64%
33.57%
1.10%
1.02%
0.49%
0.56%
0.76%
0.71%
0.78%
0.82%
0.59%
0.64%
12.20%
12.30%
11.66%
11.44%
13.32%
13.77%
13.40%
13.65%
13.68%
13.37%
7.93%
8.02%
7.56%
7.96%
7.44%
8.12%
8.85%
8.34%
8.07%
8.41%
3.64%
3.42%
3.18%
3.14%
3.27%
3.17%
2.91%
2.90%
2.95%
2.93%
100.00%
100.00%
100.000/0
100.00%
100.00%
100.000/0
100.00%
100.00%
100.00%
100.00%
(1) A portion of the county option income tax is used for property tax relief through homestead credits for residential property owners.
Source - State of Indiana Department of Local Government Finance COIT Distribution Reports
236
City of South Bend, Indiana
Statistical Section
Ten Largest Water Customers
December 31, 2014
*Hundreds of Cubic Feet
237
Percentage of
Total Water
2014
Operating
Usage
Name
Revenue
Revenue
CCF*
MEMORIAL HOSPITAL
$ 118,867
0.83%
106,100
SOUTH BEND COMMUNITY SCHOOL CORP
182,746
1.27%
91,034
HONEYWELL AEROSPACE CO
89,901
0.63%
87,378
IRISH HILLS APARTMENTS
79,726
0.55%
64,907
PARK JEFFERSON LLC
42,883
0.30%
55,428
ARAMARK UNIFORM SERVICES
38,581
0.27%
48,527
CASTLE POINT APARTMENTS
44,589
0.31%
47,260
INDIAN SPRINGS APARTMENTS
59,621
0.41%
44,252
FEDERAL MOGUL
32,439
0.23%
38,957
ST JOE COUNTY MAINTENANCE DEPT.
33,643
0.23%
35,257
Total of Ten Largest Water Customers
$ 722,996
5.03%
Total for Operating Revenue for Water Works
$ 14,373,176
100.00%
*Hundreds of Cubic Feet
237
City of South Bend, Indiana
Statistical Section
Ten Largest Sewage Works Customers
December 31, 2014
*Hundreds of Cubic Feet
238
Percentage of
Heavy
Total Water
Metered
Demand
Total
Sewer
Usage
Name
Revenue
Surcharge
Revenue
Revenue
CCF*
I/N TEK PLANT $
2,121,717 $
$
2,121,717
6.24%
826,440
UNIVERSITY OF NOTRE DAME
1,155,476
1,155,476
3.40%
513,399
MEMORIAL HOSPITAL
421,848
421,848
1.24%
102,472
HONEYWELL AEROSPACE CO
347,518
10
347,528
1.02%
79,773
SOUTH BEND COMMUNITY SCHOOL CORP
540,512
540,512
1.59%
67,159
TOWN OF NEW CARLISLE
172,392
2,630
175,022
0.51%
58,263
PARK JEFFERSON LLC
177,523
177,523
0.52%
52,140
IRISH HILLS APARTMENTS
188,512
188,512
0.55%
48,458
ARAMARK UNIFORM SERVICES
148,564
27,535
176,099
0.52%
48,449
CASTLE POINT APARTMENTS
155,790
155,790
0.46%
43,515
Total of Ten Largest Sewer Customers $
5,429,852 $
30,175 $
594609027
16.05%
Total Operating Revenue for Wastewater
$
34900991 17
*Hundreds of Cubic Feet
238
City of South Bend, Indiana
Year
Statistical Section
Gasoline Tax Collections - Cash Basis
Last Ten Fiscal Years
LR &S MVH
Fund Fund
Total Gas
Tax
Change
2005
$ 1,212,413
$ 3,397,433
$ 4,609,846
-0.95%
2006
1,201,538
3,327,314
4,528,852
-1.76%
2007
1,171,732
3,243,818
4,415,550
-2.50%
2008
1,104,260
3,016,198
4,120,458
-6.68%
2009
1,045,477
2,954,086
3,999,563
-2.93%
2010
1,064,149
2,922,165
3,986,314
-0.33%
2011
1,030,958
2,951,072
3,982,030
-0.1 1%
2012
1,022,508
2,786,592
3,809,100
-4.34%
2013
1,001,871
3,006,122
4,007,993
5.22%
2014
1,017,383
3,682,329
4,699,712
17.26%
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 which takes into account population, road and street mileage, and other factors. Gas tax revenue
was declining in prior years due to the economy and more fuel - efficient vehicles. Due to an
improvement in the economy and temporary increase in state funding for two years, total gas tax
increased in 2014.
Source: City Accounting Records
$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
Gasoline
Tax
PALM
`LINO, ti��� ti�N�
tLR &S
Fund
--*--MVH
Fund
Total Gas
Tax
City of South Bend, Indiana
Statistical Section
Wheel and Excise Surtax Collections - Cash Basis
Last Ten Years
Effective January 1, 2004, St. Joseph County enacted a wheel tax and annual
license excise surtax as allowed by State law to provide additional funding for road
maintenance and repair. 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
1 1,000 pounds, buses, tractors, and motorcycles registered in the County. (Other
rates apply to recreational vehicles, semitrailers, and trucks exceeding 1 1,000
pounds.) 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.
There was a decrease in the tax in 2014 due to the timing of the payments. The
County distributed $486,700 of wheel and excise surtax for 2014 in 2015
representing September - December 2014 payments. 2013 was only two months
behind in paying out the tax.
During 2004 -2007, the City of South Bend deposited the wheel tax and excise
surtax in its Local Road and Street (LR &S) fund. During 2008 and thereafter, the
City will deposit the taxes in its Motor Vehicle Highway (MVH) fund, as required
by the Indiana State Board of Accounts.
Source: City Accounting Records
240
LR &S
MVH
Total Wheel
%
Year
Fund
Fund
Tax
Change
2005
$ 1,914,530
$ -
$ 1,914,530
-1.97%
2006
1,849,924
-
1,849,924
-3.37%
2007
1,966,003
-
1,966,003
6.27%
2008
-
2,040,751
2,040,751
3.80%
2009
-
1,893,982
1,893,982
-7.19%
2010
-
1,975,397
1,975,397
4.30%
2011
-
1,863,283
1,863,283
-5.68%
2012
-
1,795,538
1,795,538
-3.64%
2013
-
2,045,213
2,045,213
13.91%
2014
-
1,637,707
1,637,707
- 19.92%
Effective January 1, 2004, St. Joseph County enacted a wheel tax and annual
license excise surtax as allowed by State law to provide additional funding for road
maintenance and repair. 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
1 1,000 pounds, buses, tractors, and motorcycles registered in the County. (Other
rates apply to recreational vehicles, semitrailers, and trucks exceeding 1 1,000
pounds.) 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.
There was a decrease in the tax in 2014 due to the timing of the payments. The
County distributed $486,700 of wheel and excise surtax for 2014 in 2015
representing September - December 2014 payments. 2013 was only two months
behind in paying out the tax.
During 2004 -2007, the City of South Bend deposited the wheel tax and excise
surtax in its Local Road and Street (LR &S) fund. During 2008 and thereafter, the
City will deposit the taxes in its Motor Vehicle Highway (MVH) fund, as required
by the Indiana State Board of Accounts.
Source: City Accounting Records
240
City of South Bend, Indiana
Statistical Section
Hotel/Motel Tax Revenue - Cash Basis - City Distributions
Last Ten Fiscal Years
----- --------------- ------------Paid to City of South Bend --- ---------------------------- --------------- ------Direct Payments------- ----------------
Century Professional Cumulative 2008 Subtotal: 1992 Century 2008 Other
Center Sports Develop. Capital Impr. Century Center Paid to City Center Century Center South Bend Total Hotel/ %
Year Fund Fund Fund Bonds of South Bend Bonds Bonds Projects Motel Tax Change
2005 $
1,235,849 $
465,177 $
150,000 $
$
1,851,026 $ 360,087 $
$ 46,931 $
2,258,044
3.19%
2006
1,247,928
473,258
150,000
1,871,186 357,135
364,150
2,592,471
14.81%
2007
1,361,263
507,585
150,000
2,018,848 354,916
136,330
2,510,094
-3.18%
2008
1,497,390
589,620
150,000
2,237,010 356,918
694,135
3,288,063
30.99%
2009
1,347,651
530,137
150,000
2,027,788 -
198,500 265,258
2,491,546
- 24.22%
2010
1,313,152
521,800
150,000
399,000
2,383,952
- 97,000
2,480,952
-0.43%
2011
1,313,436
494,325
150,000
400,000
2,357,761
-
2,357,761
4.97%
2012
1,313,436
489,152
150,000
398,000
2,350,588
2,350,588
- 0.30%
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%
The hotel /motel
tax was enacted
in 1973 and the current tax rate is 6 %.
The tax is accounted
for in a fund of the Saint Joseph County government and is administered by the I I - member
Saint
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 Saint Joseph County
Commissioners.
Proceeds from the hotel /motel tax fund are budgeted and distributed annually 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), the Cumulative Capital Development Fund (used for repayment of 1994 Century Center Bonds), repayment of
a 2008 Century Center Bond, and other capital projects.
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 during 2014 to all organizations was $3,508,588. The cash balance in the County Hotel /Motel Tax Fund was $3,311,648 at December 31, 2014.
Source: City Accounting Records and Saint Joseph County Auditor's Office
Cumulative
Capital Impr. 2008
Fund Century Center
Bonds
Century
Center
Fund
241
City of South Bend, Indiana
Statistical Section
Professional Sports Development (PSDA) Tax - Cash Basis
Last Ten Fiscal Years
Total PSDA %
Year Tax Change
2005
$ 384,906
4.02%
2006
370,556
-3.73%
2007
387,813
4.66%
2008
396,873
2.34%
2009
617,304
55.54%
2010
640,760
3.80%
2011
409,020
- 36.17%
2012
721,763
76.46%
2013
597,1 1 1
- 17.27%
2014
551,252
-7.68%
The Professional Sports Development Area (PSDA) tax is a combination of state income tax withholding, local income tax withholding, and sales tax
withholding from businesses and employees in South Bend's designated PSDA area, which includes the College Football Hall of Fame, Century Center,
Coveleski Stadium, Morris Performing Arts Center, Palais Royale Ballroom and Studebaker National Museum. South Bend's PSDA area was formed on
November 3, 1997 and expires on December 31 , 2027. PSDA capture of state sales and income taxes ends in 2018.
The PSDA taxes are collected by the Indiana Department of Revenue and are remitted on a monthly basis to Saint Joseph County which issues a check to
the City of South Bend. There are currently four professional sports development areas in the State - South Bend, Indianapolis /Marion County, Evansville,
and Ft. Wayne.
PSDA tax revenue increased in 2009 primarily due to the increase in the State of Indiana sales tax rate from 6% to 7% and the increase in local option
income taxes from .8% to 1.75% as a consequence of property tax reform. PSDA tax revenue decreased in 201 1 due to delays in payments in amounts
owed by the State until 2012. The decrease in PSDA tax revenues in 2014 was due to a delay in payments from the State.
In prior years, PSDA tax revenue has been used to fund the College Football Hall of Fame Capital Fund and the Century Center Capital Account.
Beginning in 201 1, PSDA tax revenue will continue to fund the Century Center Capital Account and has also been pledged to pay debt service on 2010
Coveleski Stadium Taxable Revenue bonds in the amount of $4,980,000 issued on December 23, 2010. The bond proceeds were used to make certain
capital improvements to the City-owned facility. The operations of the minor league baseball team (South Bend Silverhawks) in the stadium accounts for
the majority of PSDA tax revenue earned each year.
Source: City Accounting Records
800,000
700,000
600,000
rn 500,000
L
c 400,000
300,000
200,000
100,000
0
PSDA Tax Collections - Ten Year Trend
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Year
PC IF]
City of South Bend, Indiana
Statistical Section
Cable Television Franchise Fee Collections - Cash Basis
Last Ten Fiscal Years
Pursuant to 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 (2014 - $43,000) is spent on
support of the local public access channel.
Under State law, the City is required to submit an Annual Franchise Fee Report (State
Form 55 122) summarizing franchise fee revenue received during the year and the
purpose for which the revenue was expended. The report must be filed with the
Indiana Utility Regulatory Commission by March I of the following year.
Source: City Accounting Records
PC 1191
Total
%
Year
Comcast
AT &T
Franchise Fees
Change
2005
$ 636,416
$ -
$ 636,416
1.07%
2006
790,1 1 1
-
790,1 1 1
24.15%
2007
692,548
-
692,548
- 12.35%
2008
694,387
-
694,387
0.27%
2009
702,048
41,043
743,091
7.01%
2010
817,023
131,263
948,286
27.61%
2011
677,949
176,586
854,535
-9.89%
2012
691,586
192,621
884,207
3.47%
2013
736,071
191,529
927,600
4.91%
2014
717,156
238,309
955,465
3.00%
Pursuant to 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 (2014 - $43,000) is spent on
support of the local public access channel.
Under State law, the City is required to submit an Annual Franchise Fee Report (State
Form 55 122) summarizing franchise fee revenue received during the year and the
purpose for which the revenue was expended. The report must be filed with the
Indiana Utility Regulatory Commission by March I of the following year.
Source: City Accounting Records
PC 1191
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.
City of South Bend, Indiana
Statistical Section
Computation of Legal Debt Margin
December 31, 2014
Civil city
Net Assessed Valuation (2013 pay 2014) of Taxable Property in South Bend $ 2,209,726,672
Debt limit: 2% of one -third thereof 14,731,51 1
Less Bonds subject to limitation:
County Economic Development Income Tax Refunding
Revenue Bonds, Series 2006 A (1,060,000)
County Economic Development Income Tax Refunding
Revenue Bonds, Series 2006 B (995,000)
Redevelopment District Taxable
Revenue Bonds, Series 2010 (2,915,000)
Issuance Margin $ 9,761,511
Percentage of Debt to Debt Limit 33.74%
Redevelopment District
Net Assessed Valuation (2012 pay 2013) of Taxable Property in South Bend $ 2,209,726,672
Debt limit: 2% of one -third thereof 14,731,51 1
Less Bonds subject to limitation:
Special Taxing District Bonds of 2014 (3,010,000)
Issuance Margin $ 1 1,721,51 1
Percentage of Debt to Debt Limit 20.43%
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
EDIT 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.
244
City of South Bend, Indiana
Statistical Section
Legal Debt Margin Information
Last Ten Fiscal Years
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Civil City
Debt Limit (1)
$18,792,699
$18,901,773
$20,149,048
$19,840,538
$17,792,583
$16,356,704
$15,495,323
$15,599,467
$15,579,379
$14,731,511
Total Net Debt Applicable To Limit
8,395,000
7,367,825
6,685,000
6,105,000
5,500,000
9,850,000
8,910,000
7,650,000
6,335,000
4,970,000
Debt Margin
10,397,699
11,533,948
13,464,048
13,735,538
12,292,583
6,506,704
6,585,323
7,949,467
9,244,379
9,761,511
Percentage of Debt Limit
44.67%
38.98%
33.18%
30.77%
30.91%
60.22%
57.50%
49.04%
40.66%
33.74%
Redevelopment District
Debt Limit (1)
$18,792,699
$18,901,773
$20,149,048
$19,840,538
$17,792,583
$16,356,704
$15,495,323
$15,599,467
$15,579,379
$14,731,511
Total Net Debt Applicable To Limit
6,1 15,000
5,850,000
5,580,000
5,300,000
5,010,000
4,715,000
4,085,000
4,085,001
3,405,000
3,010,000
Debt Margin
12,677,699
13,051,773
14,569,048
14,540,538
12,782,583
11,641,704
1 1,410,323
1 1,514,466
12,174,379
1 1,721,51 1
Percentage of Debt Limit
32.54%
30.95%
27.69%
26.71%
28.16%
28.83%
26.36%
26.19%
21.86%
20.43%
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
245
City of South Bend, Indiana
Statistical Section
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
Governmental Activities
Percent of Total Debt 0.00% 36.10% 9.07% 0.69% 3.61% 47.31% 0.20% 1.61% 1.41% 100.00%
Sources: City of South Bend Comprehensive Annual Financial Reports
Population statistics obtained from the U.S. Census Bureau.
City of South Bend estimated personal income is computed as estimated City population x 2012 South Bend Metro Area Per Capita Income (see Demographic Statistics)
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Governmental Activities Debt
13Capital Leases
■Notes /Loans Payable
■Mortgage Bonds
■Revenue Bonds
❑General Obligation Bonds
246
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Business -type Activities Debt
South Bend
Debt
Percent of
❑Capital Leases
5.44%
5.54%
6.09%
6.55%
6.46%
6.71%
7.09%
7.81%
7.47%
6.97%
■Notes/Loans Payable
■Mortgage Bonds
■ Revenue Bonds
General
Business -Type Activities
Fiscal
Obligation
Revenue
Mortgage
Notes /Loans
Year
Bonds
Bonds
Bonds
Payable
2005
$ 320,000
$ 84,225,000
$ 28,994,057
$ 9,539,771
2006
-
82,445,000
27,337,124
11,758,552
2007
-
78,570,000
25,957,839
7,900,658
2008
-
115,240,000
24,534,464
9,543,790
2009
-
113,975,000
23,061,148
8,470,308
2010
-
111,510,000
21,117,295
6,323,199
2011
-
101,472,431
19,724,490
4,431,871
2012
-
96,410,000
17,883,530
4,953,639
2013
-
90,172,826
23,079,781
3,030,554
2014
-
84,862,512
21,331,548
1,617,491
Percent of Total Debt 0.00% 36.10% 9.07% 0.69% 3.61% 47.31% 0.20% 1.61% 1.41% 100.00%
Sources: City of South Bend Comprehensive Annual Financial Reports
Population statistics obtained from the U.S. Census Bureau.
City of South Bend estimated personal income is computed as estimated City population x 2012 South Bend Metro Area Per Capita Income (see Demographic Statistics)
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Governmental Activities Debt
13Capital Leases
■Notes /Loans Payable
■Mortgage Bonds
■Revenue Bonds
❑General Obligation Bonds
246
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Business -type Activities Debt
South Bend
Debt
Percent of
❑Capital Leases
5.44%
5.54%
6.09%
6.55%
6.46%
6.71%
7.09%
7.81%
7.47%
6.97%
■Notes/Loans Payable
■Mortgage Bonds
■ Revenue Bonds
Business -Type Activities
South Bend
Total
Debt
Estimated
Capital
Revenue
Mortgage
Notes /Loans
Capital
Primary
Estimated
Per
Personal
Leases
Bonds
Bonds
Payable
Leases
Government
Population
Capita
Income
$ 3,454,627
$ 35,990,000
$ 1,015,980
$ 20,659,864
$ 1,710,033
$ 185,909,332
105,743
$ 1,758
$ 3,418,459,704
3,533,187
44,345,000
972,315
19,258,433
1,523,594
191,173,205
104,457
1,830
3,450,632,538
7,695,487
73,145,000
926,805
18,380,491
1,127,394
213,703,674
104,069
2,053
3,511,183,991
7,388,443
67,535,000
878,835
17,031,649
628,427
242,780,608
104,905
2,314
3,709,126,085
6,214,206
68,225,000
829,020
16,145,358
893,233
237,813,273
106,192
2,239
3,679,658,992
5,299,341
72,655,000
717,705
16,755,369
799,402
235,177,311
101,168
2,325
3,505,572,368
7,510,749
88,655,000
660,510
15,542,372
1,077,642
239,075,065
101,168
2,363
3,371,120,096
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
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
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
Percent of Total Debt 0.00% 36.10% 9.07% 0.69% 3.61% 47.31% 0.20% 1.61% 1.41% 100.00%
Sources: City of South Bend Comprehensive Annual Financial Reports
Population statistics obtained from the U.S. Census Bureau.
City of South Bend estimated personal income is computed as estimated City population x 2012 South Bend Metro Area Per Capita Income (see Demographic Statistics)
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Governmental Activities Debt
13Capital Leases
■Notes /Loans Payable
■Mortgage Bonds
■Revenue Bonds
❑General Obligation Bonds
246
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Business -type Activities Debt
South Bend
Debt
Percent of
❑Capital Leases
5.44%
5.54%
6.09%
6.55%
6.46%
6.71%
7.09%
7.81%
7.47%
6.97%
■Notes/Loans Payable
■Mortgage Bonds
■ Revenue Bonds
City of South Bend, Indiana
Statistical Section
Computation of Direct and Overlapping Debt
December 31, 2014
Direct Debt:
City of South Bend
General Obligation Bonds
Revenue Bonds - Governmental Activities
Mortgage Bonds - Governmental Activities
Notes Payable - Governmental Activities
Capital Leases - Governmental Activities
Total Direct Debt and Lease Obligation Debt
Gross
Debt
Percentage Amount Ratio of Debt / Ratio of Debt/
Applicable to Applicable to Debt Per Net Assessed Personal
South Bend South Bend Capita Value Income
$ 84,862,512 100.00 % $ 84,862,512
21,331,548 100.00 21,331,548
1,617,491 100.00 1,617,491
8,481,375 100.00 8,481,375
$ 116,292,926 $ 1,150 5.26 % 3.03 %
Overlapping Debt (1)
South Bend Community School Corporation $ 145,573,853
54.17 %
$ 78,857,356
St. Joseph County Public Library 6,925,000
50.85
3,521,363
St. Joseph County Airport Authority 12,1 15,000
29.03
3,516,985
St. Joseph County 30,909,292
29.03
8,972,967
Penn - Harris - Madison School Corporation 47,187,570
2.82
1,330,689
Mishawaka - Penn - Harris Public Library 2,425,000
2.25
54,563
Total Overlapping and Underlying Direct Debt and Lease Obligations
$ 96,253,923 $ 951 4.36 % 2.50 %
Total Direct Debt and Lease Obligation Debt and Overlapping and
Underlying Direct Debt and Lease Obligations
$ 212,546,849 $ 2,101 9.62 % 5.53 %
Ratio Factors
Net Assessed Valuation (2014 payable 2014) $ 2,209,726,672
Population - 2010 US Census Bureau 101,168(2)
South Bend Metropolitan Area 2013 Per Capita Income $ 37,989 (3)
Estimated South Bend Total Personal Income (2 x 3) $ 3,843,271,152
(1) Overlapping debt percentages are based on the net assessed value of South Bend properties in proportion to the total net assessed value.
(2) Population statistics obtained from the U.S. Census Bureau ( http:/ /factfinder.census /gov /servlet).
(3) South Bend - Mishawaka, IN Metropolitan Area Profile (www.stats.indiana.edu).
247
City of South Bend, Indiana
Fiscal
Year
Statistical Section
Ratio of Annual Debt Service Expenditures for General Obligation Bonded Debt
to Total Governmental Fund Expenditures
Last Ten Years
Principal
Total Debt
Interest Service
Total Ratio of Debt Service
Governmental Fund to Governmental Fund
Expenditures Expenditures
2005
$ 615,000 $ 39,445 $ 654,445 $ 130,713,640
0.50%
2006
320,000 8,160 328,160 129,527,536
0.25%
2007
- - - 128,209,220
0.00%
2008
- - - 138,022,795
0.00%
2009
- - - 142,962,710
0.00%
2010
- - - 150,758,014
0.00%
2011
- - - 172,397,679
0.00%
2012
- - - 162,460,000
0.00%
2013
- - - 152,889,475
0.00%
2014
- - - 154,300,097
0.00%
The City of South Bend has no General Obligation Bonds outstanding. The 1977 Studebaker Corridor bonds were paid off during 2006.
Source - City of South Bend Comprehensive Annual Financial Reports
248
City of South Bend, Indiana
Statistical Section
Ratio of Net General Bonded Debt to Net Assessed Valuation and Net Bonded Debt per Capita
Last Ten Years
Tax Year/
Collection Year
Population (1)
Percent of Net
Debt Service Bonded Debt
Net Assessed Gross Monies Net To Net Assessed
Value Bonded Debt Available Bonded Debt Value
Net
Bonded Debt
Per Capita
2004/2005
105,743
$ 2,818,940,818 $ 320,000 $ 320,000 $ -
0.00% $
-
2005/2006
104,457
2,835,265,890 - - -
0.00%
0.00
2006/2007
104,069
3,022,157,147 - - -
0.00%
0.00
2007/2008
104,905
2,976,080,798 - - -
0.00%
0.00
2008/2009
106,192
2,668,887,419 - - -
0.00%
0.00
2009/2010
101,168
2,453,505,573 - - -
0.00%
0.00
2010/2011
101,168
2,324,451,862 - - -
0.00%
0.00
2011/2012
101,168
2,380,874,608 - - -
0.00%
0.00
2012/2013
101,168
2,371,087,697 - - -
0.00%
0.00
2013/2014
101,168
2,209,726,672 - - -
0.00%
0.00
(I) Population statistics obtained from the U.S. Census Bureau ( http:// factfinder.census /gov /servlet).
249
City of South Bend, Indiana
Statistical Section
St. Joseph County Hotel/Motel Tax Board
Statement of Estimated Cash Flow and Debt Service Coverage
Source: Saint Joseph County Hotel /Motel Tax Board financial reports
City of South Bend Debt Schedules
(1) $150,000 paid from hotel /motel tax revenue. The balance paid from City of South Bend revenue sources.
250
Projected
2011 B
2013
Hotel /Motel
Century Center
Century Center
Estimated
Tax
Refunding
Refunding
Total Annual
Excess
Estimated
Year
Revenues
Bonds(I)
Bonds
Debt Service
Funds
Coverage
2015
$ 4,218,244
$ 150,000
$ 398,500
$ 548,500
$ 3,669,744
769%
2016
4,260,000
150,000
396,000
546,000
3,714,000
780%
2017
4,300,000
150,000
394,000
544,000
3,756,000
790%
2018
4,345,000
-
395,000
395,000
3,950,000
1100%
2019
4,390,000
-
396,500
396,500
3,993,500
1107%
2020
4,430,000
-
397,000
397,000
4,033,000
1116%
2021
4,475,000
-
396,500
396,500
4,078,500
1129%
2022
4,520,000
-
395,000
395,000
4,125,000
1 144%
2023
4,565,000
-
394,500
394,500
4,170,500
1 157%
2024
4,610,000
-
396,000
396,000
4,214,000
1164%
2025
4,656,000
-
283,500
283,500
4,372,500
1642%
2026
4,700,000
-
84,500
84,500
4,615,500
5562%
Total
$ 53,469,244
$ 450,000
$ 4,327,000
$ 4,777,000
$ 48,692,244
1119%
Source: Saint Joseph County Hotel /Motel Tax Board financial reports
City of South Bend Debt Schedules
(1) $150,000 paid from hotel /motel tax revenue. The balance paid from City of South Bend revenue sources.
250
City of South Bend, Indiana
Year
Gross
Operating
Revenue
Statistical Section
Schedule of Revenue Bond Coverage
Water Utility Bonds
Last Ten Years
Net Revenue Debt Service Reauirements
Operating Available for
Expenses (1) Debt Service Principal
Interest
Total
Debt
Coverage
2005
$ 1 1,926,479
$ 7,770,464
$ 4,156,015
$ 2,040,000
$ 708,030
$ 2,748,030
151%
2006
13,166,166
7,369,035
5,797,131
2,485,622
1,042,309
3,527,931
164%
2007
13,748,213
8,296,075
5,452,138
2,764,265
1,015,524
3,779,789
144%
2008
13,343,210
8,528,933
4,814,277
2,908,014
888,199
3,796,213
127%
2009
13,471,890
8,838,405
4,633,485
2,481,871
754,108
3,235,979
143%
2010
13,513,995
8,560,390
4,953,605
2,605,840
937,293
3,543,133
140%
2011
14,032,074
9,301,552
4,730,522
2,729,925
823,265
3,553,190
133%
2012
14,190,243
9,021,274
5,168,969
821,847
823,944
1,645,791
314%
2013
13,783,701
10,665,913
3,1 17,788
1,241,768
809,673
2,051,441
152%
2014
14,373,176
10,105,709
4,267,467
1,251,588
769,025
2,020,613
21 1%
(1) Operating expenses exclude depreciation.
Operating revenue used to make debt service payments is obtained primarily through monthly user charges to water customers.
Source - City of South Bend Comprehensive Annual Financial Report.
251
City of South Bend, Indiana
Year
Gross
Operating
Revenue
Operating
Expenses(l)
Net Revenue
Available for
Debt Service
Statistical Section
Schedule of Revenue Bond Coverage
Wastewater Utility Bonds
Last Ten Years
Debt Service Requirements
Debt
Principal Interest Total Coverage
2005
$ 14,639,963
$1 1,200,692
$ 3,439,271
$1,180,000
$ 577,943
$1,757,943
196%
2006
18,058,615
9,650,301
8,408,314
2,481,626
1,273,423
3,755,049
224%
2007
20,685,490
10,389,691
10,295,799
2,863,218
1,364,272
4,227,490
244%
2008
(2) 22,941,734
14,079,734
8,862,000
3,701,524
2,647,324
6,348,848
140%
2009
24,313,147
17,504,825
6,808,322
3,130,000
2,557,940
5,687,940
120%
2010
25,444,404
12,193,363
13,251,041
3,385,205
2,314,275
5,699,480
232%
201 1
29,023,547
14,869,660
14,153,887
3,867,584
2,737,027
6,604,61 1
214%
2012
30,963,483
13,777,728
17,185,755
4,736,450
3,489,057
8,225,507
209%
2013
31,926,078
1 1,526,554
20,399,524
5,080,425
3,354,156
8,434,581
242%
2014
34,009,1 17
14,313,967
19,695,150
6,320,626
3,376,045
9,696,671
203%
(1) Operating expenses exclude depreciation.
(2) Two large Sewage Works revenue bonds were issued during 2007 with principal and interests payments beginning in 2008.
These bonds are part of the City of South Bend's long -term combined sewer overflow (CSO) control plan.
Operating revenue used to make debt service payments is obtained primarily through monthly user charges to sewer customers.
Source - City of South Bend Comprehensive Annual Financial Report
252
City of South Bend, Indiana
Statistical Section
Municipal Sewage Works
Annual Wastewater Flow Data
Number of Customers - South Bend Municipal Sewage Works
2006
2007
2008
2009
2010
2011
2012
2013
2014
Capacity (MGD)
48
48
48
48
48
48
48
48
48
Average Daily Flow
31.67
32.45
37.80
38.42
30.86
35.80
31.77
30.69
32.00
Peak Flow
50.70
60.30
75.00
68.80
62.00
72.50
63.70
62.50
68.50
Annual Flow (MG)
1 1,559
1 1,845
13,835
14,024
1 1,264
13,068
1 1,596
1 1,203
1 1,677
Number of Customers - South Bend Municipal Sewage Works
Source: City of South Bend Environmental Services Department
253
Total Number
Year
of Customers
2006
39,124
2007
37,018
2008
38,282
2009
36,664
2010
38,455
201 1
39,027
2012
39,068
2013
39,322
2014
39,461
Source: City of South Bend Environmental Services Department
253
City of South Bend, Indiana
Statistical Section
Statement of City -owned Utility Debt
December 31, 2014
South Bend Municipal Sewage Works
Sewage Works Revenue Bonds of 2006
$
5,740,000
Sewage Works Revenue Bonds of 2007
12,320,000
Sewage Works Revenue Bonds of 2007 B
12,280,000
Sewage Works Revenue Bonds of 2010
7,905,000
Sewage Works Revenue Bonds of 201 1
19,040,000
Sewage Works Revenue Bonds of 2012
22,965,000
Sewage Works Revenue Bonds of 2013 A
1 1,855,000
Total Sewage Utility Debt
$
92,105,000
South Bend Municipal Waterworks
Waterworks Revenue Bonds of 2000
State Revolving Fund (SRF) Loan
$
860,913
Waterworks Revenue Bonds of 2006
3,300,000
Waterworks Revenue Bonds of 2009, Series A
State Revolving Fund (SRF) Loan
372,364
Waterworks Revenue Bonds of 2009, Series B
Indiana Bond Bank
4,775,000
Waterworks Revenue Bonds of 2012
3,100,000
Waterworks Revenue Refunding Bonds of 2012, Series B
7,620,000
Total Water Utility Debt
$
20,028,277
Total Utility Debt $ 1 12,133,277
Source: City of South Bend Finance Administration
254
City of South Bend, Indiana
Statistical Section
Estimate Debt Service Coverage Calculation of Sewer Works
December 31, 2014
Operating Revenues
Less: Operation and Maintenance Expenses (Net of Depreciation)
Net Revenues Available for Debt Service
Estimated Combined Annual Debt Service
Coverage - $
Coverage - %
255
$ 34,009,1 17
(14,313,967)
19,695,150
9,696,671
$ 9,998,479
203%
City of South Bend, Indiana
Statistical Section
Estimate Debt Service Coverage Calculation of Water Utility
December 31, 2014
Operating Revenues
Less: Operation and Maintenance Expenses (Net of Depreciation)
Net Revenues Available for Debt Service
Estimated Combined Maximum Annual Debt Service
Coverage - $
Coverage - %
256
$ 14,373,176
(10,105,709)
4,267,467
2,020,613
$ 2,246,854
21 1%
City of South Bend, Indiana
Statistical Section
Projected City of South Bend COIT Revenues
.6% COIT Tax Rate
Levy is Used to Distribute COIT
Total $ 88,385,019
(1) Kept constant based on 2015.
Source: Department of Local Government Finance (DLGF)
257
Projected
St. Joseph County
COIT Amount
Year of
Projected
Projected
Available For
Collection
Distribution
COIT
Debt Service
2014
$ 25,275,541
34.21 %
$ 8,645,81 1
2015
26,435,155 (1)
33.52
8,859,912 (1)
2016
26,435,155
33.52
8,859,912
2017
26,435,155
33.52
8,859,912
2018
26,435,155
33.52
8,859,912
2019
26,435,155
33.52
8,859,912
2020
26,435,155
33.52
8,859,912
2021
26,435,155
33.52
8,859,912
2022
26,435,155
33.52
8,859,912
2023
26,435,155
33.52
8,859,912
Total $ 88,385,019
(1) Kept constant based on 2015.
Source: Department of Local Government Finance (DLGF)
257
City of South Bend, Indiana
Statistical Section
Statement of Estimated Cash Flow and Debt Service Coverage
Projected
Redevelopment
COIT
First Mortgage
First Mortgage
City of South Bend
District
Lease Rental Revenue
Revenue Refunding
Revenue Bonds Estimated
COIT
Taxable Revenue
Refunding Bonds of 2010
Bonds, Series 2012
Series 2013 Total Lease Excess Estimated
Year Revenues
Bonds, Series 2010
Lease Payments
Lease Payments
Lease Payments Payments Funds Coverage
2015 $
8,859,912 $
746,318 $
680,000 $
1,572,000 $
405,680 $
3,403,998 $
5,455,914
260%
2016
8,859,912
732,604
673,000
1,572,000
404,155
3,381,759
5,478,153
262%
2017
8,859,912
720,905
675,000
1,570,000
402,480
3,368,385
5,491,527
263%
2018
8,859,912
706,650
675,000
1,564,000
395,730
3,341,380
5,518,532
265%
2019
8,859,912
-
673,000
1,562,000
398,830
2,633,830
6,226,082
336%
2020
8,859,91 2
-
678,000
1,567,000
396,705
2,641 ,705
6,218,207
335%
2021
8,859,912
-
-
1,567,000
399,355
1,966,355
6,893,557
451%
2022
8,859,912
-
-
1,563,000
396,780
1,959,780
6,900,132
452%
2023
8,859,912
-
-
1,563,000
398,980
1,961,980
6,897,932
452%
2024
8,859,912
-
-
-
406,543
406,543
8,453,369
2179%
2025
8,859,912
-
-
-
411,493
41 1,493
8,448,419
2153%
2026
8,859,912
-
-
-
410,643
410,643
8,449,269
2158%
2027
8,859,912
-
-
-
414,149
414,149
8,445,763
2139%
2028
8,859,912
-
-
-
421,605
421,605
8,438,307
2101%
2029
8,859,912
-
-
-
422,742
422,742
8,437,170
2096%
2030
8,859,912
-
-
-
422,742
422,742
8,437,170
2096%
2031
8,859,912
-
-
-
427,550
427,550
8,432,362
2072%
2032
8,859,912
-
-
-
431,254
431,254
8,428,658
2054%
2033
8,859,912
-
-
-
433,925
433,925
8,425,987
2042%
Total $ 168,338,328 $ 2,906,477 $ 4,054,000 $ 14,100,000 $ 7,801,341 $ 28,861,818 $ 139,476,510 583%
Source: City of South Bend Finance Department
258
City of South Bend, Indiana
Tax Year /
Collection Year
2012/2013
2013/2014
Statistical Section
Estimated Tax Increment Revenues
Erskine Village Project
Estimated 12/13
Tax Net Tax
Increment (1) Rate (2)
$ 1,311,129 $ 3.6197
9,175 -
Estimated
Tax Increment
Revenue
$ 1,311,129
9,175
(1) The City passed back incremental assessed value for payable year 2013.
The City will make a yearly decision on the passback of incremental
assessed value. The Redevelopment Commission released TIF for
2013 pay in 2014.
Source: City of South Bend Finance Department
259
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.
City of South Bend, Indiana
Statistical Section
Demographic Statistics
Last Ten Years
South Bend
South Bend
0.5%
37,971
Metropolitan
Metro Area
South Bend
City of
City of Percent Area
Percent Total Personal
Percent Metro Area
Percent City of South Bend Percent
South Bend Increase/ Median Family
Increase/ Income (3)
Increase/ Per Capita
Increase/ South Bend Public School Increase/
Year Population (1) (Decrease) Income (4)
(Decrease) (Millions)
(Decrease) Income (3)
(Decrease) Median Age (4) Enrollment (2) (Decrease)
2005
105,743
0.5%
37,971
-4.9%
8,565
3.3%
32,328
3.2%
34.5
22,100
-0.2%
2006
104,457
-1.2%
39,046
2.8%
8,958
4.6%
33,034
2.2%
34.6
21,926
-0.8%
2007
104,069
-0.4%
44,400
13.7%
8,978
0.2%
33,739
2.1%
34.6
21,715
-1.0%
2008
104,905
0.8%
40,684
-8.4%
9,396
4.7%
35,357
4.8%
34.6
20,800
-4.2%
2009
106,192
1.2%
43,403
6.7%
9,466
0.7%
34,651
-2.0%
32.3
20,451
-1.7%
2010
101,168
-4.7%
40,789
-6.0%
9,289
-1.9%
34,286
-1.1%
33.4
20,066
-1.9%
2011
101,168
0.0%
40,873
0.2%
9,768
5.2%
33,322
-2.8%
33.3
19,467
-3.0%
2012
101,168
0.0%
40,873
0.0%
9,768
0.0%
33,322
0.0%
33.3
18,982
-2.5%
2013
101,168
0.0%
40,873
0.0%
10,162
4.0%
38,152
14.5%
33.3
19,680
3.7%
2014
101,168
0.0%
40,873
0.0%
10,162
0.0%
37,989
-0.4%
33.9
19,308
-1.9%
Sources:
(1) U.S. Census Bureau 2010 Census information ( http: / /factfiinder2.census.gov). No 2014 information available.
(2) South Bend Community School Corporation Administration office for enrollment on October 1, 2014.
(3) South Bend - Mishawaka, IN-Ml Metropolitan Area Profile (http: / /www.stats.indiana.edu).
(4) U.S. Census Bureau (http: / /factfinder2.census.gov). 2014 information not available for Median Family Income
Population statistics are obtained from the U.S. Census Bureau population estimate table.
Effective Buying Income statistics come from "Survey of Buying Power ", Sales and Marketing Management, Annual editions, 1992 -2003.
School enrollment statistics (public and private schools) are obtained from South Bend /Mishawaka area Chamber of Commerce.
Unemployment and labor force statistics are estimated figures obtained from the Workforce Development Services. These are based on
South Bend being a Metropolitan Statistical Area. This is defined as a county or group of contiguous counties with a total
population of at least 100,000. The area must also contain at least one city with a population of 50,000 or more.
260
City of South Bend, Indiana
Statistical Section
Demographic Statistics (Continued)
Last Ten Years
December
December
December
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)
2005
134,033
0.8%
6,956
4.3%
5.2%
2006
134,651
0.5%
6,501
-6.5%
4.8%
2007
132,693
-1.5%
6,291
-3.2%
4.7%
2008
133,433
0.6%
12,476
98.3%
9.4%
2009
123,792
-7.2%
13,474
8.0%
10.9%
2010
125,853
1.7%
12,648
-6.1%
10.0%
2011
129,438
2.8%
12,366
-2.2%
9.6%
2012
124,968
-3.5%
12,108
-2.1%
9.7%
2013
124,145
-0.7%
9,211
-23.9%
7.4%
2014
125,693
1.2%
8,017
-13.0%
6.4%
Source:
(1) South Bend - Mishawaka, IN—Ml Metropolitan Area Profile (http: / /www.stats.indiana.edu).
"Labor Force Overview" employment statistics annual averages.
01 ff-
City of South Bend, Indiana
Statistical Section
Employment by Type and Industry
Last Ten Years
Description
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013 '*
Total employment
172,746
173,180
173,782
174,814
172,488
163,879
162,658
165,560
164,605
164,832
By Tyoe
Wage and salary employment
147,608
147,110
147,207
147,123
144,979
135,940
134,905
137,218
136,839
136,543
Proprietors employment
25,138
26,070
26,575
27,691
27,509
27,939
27,753
28,342
27,766
28,289
Farm proprietors employment
1,432
1,391
1,332
1,350
1,333
1,330
1,339
1,340
1,294
1,292
Nonfarm proprietors employment
23,706
24,679
25,243
26,341
26,176
26,609
26,414
27,002
26,472
26,997
By Industry
Farm employment
2,177
2,065
1,961
1,966
1,841
1,866
1,883
1,977
1,909
1,943
Nonfarm employment
170,569
171,115
171,821
172,848
170,647
162,013
160,775
163,583
162,696
162,889
Private nonfarm employment
152,513
152,969
153,648
154,753
152,421
143,674
142,492
145,406
145,406
146,107
Forestry, fishing, and related activities
(D)
(D)
(D)
181
(D)
(D)
236
260
295
288
Mining
(D)
(D)
57
56
99
103
183
156
192
206
Utilities
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
(D)
Construction
9,466
9,524
9,311
9,053
9,079
7,813
6,816
6,805
6,535
6,780
Manufacturing
22,035
21,917
20,962
20,376
19,328
16,503
16,266
17,601
17,650
17,120
Wholesaletrade
7,781
7,991
8,320
8,147
7,921
7,015
7,122
7,225
7,078
6,880
Retail trade
20,291
20,078
20,001
20,050
19,01 1
17,946
17,498
17,654
17,472
17,413
Transportation and warehousing
(D)
(D)
(D)
(D)
(D)
(D)
4,139
(D)
(D)
(D)
Information
2,769
2,679
2,648
2,641
2,525
(D)
2,165
2,029
2,049
2,221
Finance and insurance
6,616
6,513
6,744
6,873
6,945
6,874
6,692
6,894
6,673
6,142
Real estate and rental and leasing
5,372
5,633
5,603
5,709
5,542
5,188
4,936
5,088
4,883
4,980
Professional, scientific, and technical services
7,788
7,238
7,558
7,784
7,736
7,713
7,627
7,573
7,495
7,997
Management of companies and enterprises
866
902
924
1,113
1,235
1,256
(D)
(D)
1,484
2,130
Administrative and waste management services
7,796
8,254
8,892
9,419
8,973
7,967
8,413
8,283
7,843
7,641
Educational services
12,616
12,645
12,677
12,870
13,251
13,055
13,169
13,730
14,096
(D)
Health care and social assistance
18,257
18,427
19,690
20,072
20,259
20,818
20,239
21,208
21,854
(D)
Arts, entertainment, and recreation
2,649
2,674
2,777
2,850
2,809
2,603
2,577
2,743
2,716
2,796
Accommodation and food services
1 1,1 18
11,329
11,343
11,335
11,627
10,925
11,010
1 1,557
1 1,795
12,157
Other services, except public administration
10,162
10,100
10,118
10,296
10,118
(D)
9,704
10,001
10,039
10,101
Government and government enterprises
18,056
18,146
18,173
18,095
18,226
18,339
18,283
18,177
17,290
16,782
Federal, civilian
1,285
1,251
1,243
1,236
1,223
1,241
1,265
1,091
1,071
1,009
Military
982
947
1,019
995
1,003
1,013
1,003
1,043
1,007
990
State and local
15,789
15,948
15,91 1
15,864
16,000
16,085
16,015
16,043
15,212
14,783
State government
2,907E
3,055
3,108
3069
3,188
3,350
3,434
3,535
3,457
3,265
Local government
(D)
12,893
12,803
12,795
12,812
12,735
12,581
12,508
11,755
11,518
Source: Bureau of Local Economic Analysis (www.bea.gov)
(D) - information not shown on the BEAwebsite to avoid disclosure of confidential information but estimates are included in the totals
.. 2013 is the most recent year available as of the date of publication of this information.
262
City of South Bend, Indiana
Statistical Section
Comparison Growth Rates in Personal Income for St. Joseph County
The State of Indiana and U.S. Personal Income
Last Ten Years
Source
STATS Indiana, a website sponsored by the Indiana Business Research Center at Indiana University's Kelley School of Business.
Website address: www.stats.indiana.edu. Accessed April 3, 2015. No 2013 or 2014 information available.
* Bureau of Economic Analysis US Department of Commerce Bearfacts (www.bea.gov)
263
Amount in
Amount in
Millions
Billions
Annual Percentage Increase
St. Joseph Co.
Indiana
U.S.
St. Joseph Co.
Indiana
U.S.
Calendar
Personal
Personal
Personal
Personal
Personal
Personal
Year
Income
Income
Income
Income
Income
Income
2005
$ 8,565
$ 193,348
$ 10,284
3.25%
3.83%
5.90%
2006
8,958
203,502
10,968
4.59%
5.25%
6.65%
2007
8,978
204,877
11,074
0.22%
0.68%
0.97%
2008
9,396
210,447
11,634
4.66%
2.72%
5.06%
2009
9,466
220,670
12,225
0.74%
4.86%
5.08%
2010
9,289
218,527
12,168
-1.87%
- 0.97%
- 0.47%
2011
9,678
232,586
12,949
4.19%
6.43%
6.42%
2012
10,162
249,198
13,729
5.00%
7.14%
6.02%
2013
* 10,132
253,779
13,977
- 0.30%
1.84%
1.81%
2014
10,132
253,779
13,977
0.00%
0.00%
0.00%
Average Annual Growth
- Most Recent 5 Years
1.55%
3.86%
3.77%
Average Annual Growth
- Most Recent
10 Years
2.33%
3.27%
3.96%
Source
STATS Indiana, a website sponsored by the Indiana Business Research Center at Indiana University's Kelley School of Business.
Website address: www.stats.indiana.edu. Accessed April 3, 2015. No 2013 or 2014 information available.
* Bureau of Economic Analysis US Department of Commerce Bearfacts (www.bea.gov)
263
City of South Bend, Indiana
Statistical Section
Principal Employers - Current and Nine Years Ago
December 31, 2014
2014 2006 *
Number of Percent Number of Percent
Employer Type of Business Employees of Total Rank Employees of Total Rank
University of Notre Dame
Beacon Health System
South Bend Community School Corp
AM General Corporation
Martin's Super Markets
Meijer, Inc.
St. Joseph County
Indiana University South Bend
I st Source Corporation
City of South Bend
The Diocese of Fort Wayne /South Bend
Madison Center
Total Number of Employees
College /University
Health Care
Public Schools
Manufacturing/Assembly
Grocery/Retail
Grocery/Retail
Government
College /University
Banking
Government
Parochial Schools
Health Care
5,590
4.45%
1
4,200
3.11 % 1
3,400
2.71
2
3,600
2.67 2
2,880
2.29
3
3,338
2.47 3
2,738
2.18
4
2,292
1.70 5
1,555
1.24
5
1,450
1.15
6
1,300
1.03
7
2,025
1.50 6
1,266
1.01
8
1,400
1.04 8
1,160
0.92
9
1,098
0.87
10
1,288
0.95 9
1,750
1.30 7
1,239
0.92 10
22,437
17.85 %
21,132
15.67 %
Total Employees - South Bend Metropolitan Area Labor Force 125,693 100.00 % 134,889 100.00 %
Source:
St. Joseph County Chamber of Commerce 2014 Economic Profile
South Bend - Mishawaka, IN_MI Metropolitan Area Profile (http: / /www.stats.indiana.edu). "Labor Force Overview" employment statistics annual averages.
* 2005 information not available.
264
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.
City of South Bend, Indiana
Statistical Section
Operating Indicators
by Function/Program
Last Ten Fiscal Years
Fiscal Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Function/ Program
Police:
Physical arrests
5,056
5,932
4,589
4,091
3,785
3,077
3,626
3,174
2,959
2,608
Parking violations
722
515
1,820
1,672
1,479
979
904
1,051
1,019
299
Traffic violations
13,411
16,583
1,626
5,901
1 1,746
14,163
4,236
7,561
2,180
1,487
Fire:
Emergency responses
13,444
14,297
14,822
15,123
14,341
15,578
15,408
15,720
15,865
15,902
Fires extinguished
220
227
279
264
264
225
251
214
220
227
Inspections
5,585
4,875
4,302
4,467
4,205
4,233
3,553
3,325
2,273
3,133
Refuse collection -
Refuse collected (tons per day) (1)
238
269
267
137
70
120
123
128
122
128
Other public works:
Street resurfacing (miles)
29.30
15.00
16.50
14.70
14.50
20.30
18.10
16.90
21.00
22.00
Potholes repaired (tonnage)
372.06
239.88
923.00
898.00
629.22
380.00
332.32
1 17.21
691.00
826.25
Parks and recreation:
Athletic field permits issued
750
700
1,000
738
700
381
227
133
93
120
Fitness Center Admissions
37,247
61,452
63,088
70,193
74,438
60,1 18
67,408
61,002
63,671
67,428
Water:
New billable housing starts
445
471
321
299
194
179
144
160
242
141
Water main breaks
80
54
105
72
87
76
60
66
80
134
Average daily consumption
20,071
17,704
19,042
18,280
16,100
15,955
15,600
16,600
15,300
1 1,000
(thousands of gallons)
Wastewater -
Average daily sewage treatment
31,800
32,800
35,970
37,800
41,200
30,861
35,800
31,770
30,690
31,991
(thousands of gallons)
Sources: Various city departments
(1) 2007 and prior years were in cubic
yards
265
City of South Bend, Indiana
Sources: Various city departments
266
Statistical Section
Capital Asset and Infrastructure Statistics
by Function/Program
Last Ten Fiscal Years
Fiscal Year
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Function/program
Police:
Stations
I
I
I
I
I
I
I
I
I
I
Patrol units
25
25
25
25
25
25
19
19
19
19
Fire:
Stations
I I
I I
I I
I I
I I
I I
I I
I I
I I
I I
Training Center
0
0
0
0
0
0
0
0
0
1
Rescue units
31
31
32
32
33
33
33
33
33
33
Refuse collection -
Collection trucks
23
22
22
22
21
23
23
19
19
19
Other public works:
Streets (miles)
498
500
500
500
532
532
499
525
525
525
Streetlights
966
1,060
1,170
1,242
2,500
2,500
2,500
2,700
2,700
3,000
Traffic signals
164
167
160
160
162
162
164
165
167
162
Parks and recreation:
Acreage
1,292
1,292
1,292
1,292
1,292
1,292
1,292
1,292
1,292
1,292
Playgrounds
47
47
47
47
47
47
47
47
47
47
Baseball /Softball diamonds
26
26
27
27
27
27
27
27
27
27
Soccer /Football fields
17
17
17
17
17
17
17
19
19
19
Swimming pools
2
2
2
2
2
2
2
2
2
2
Community center
5
5
5
5
5
5
5
5
5
3
Water:
Water mains (miles)
547
553
558
560
560
580
582
583
584
583
Fire hydrants
4,914
5,013
4,000
5,081
5,317
5,345
5,377
5,401
5,436
5,448
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
Wastewater:
Sanitary sewers (miles)
540
540
540
540
534
534
534
528
526
527
Storm sewers (miles)
200
200
200
200
200
127
127
133
133
133
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
Sources: Various city departments
266
City of South Bend, Indiana
Statistical Section
New Construction - Number of Permits and Property Values
Last Ten Fiscal Years
(Dollar Amounts in 0009s)
Public
Residential Residential Commercial Commercial Public Utility Manufacturing Manufacturing Total Value
Number of Value Number of Value Utility Number Value Number of Value Total Value Increase/
Year Permits (in 000s) Permits (in 000s) of Permits (in 000s) Permits (in 000s) (in 000s) (Decrease)
2005
166
$ 25,123
17
$ 28,578
2,611
$ 39,435
1 $ 6,000 $
99,136
2.9%
2006
102
17,241
21
36,749
2,282
34,836
2 7,927
96,753
-2.4%
2007
103
18,314
28
27,082
1,907
28,720
5 6,612
80,728
-16.6%
2008
55
10,032
15
44,678
1,662
29,685
1 2,416
86,811
7.5%
2009
48
8,467
10
29,451
1 ,627
28,785
- -
66,703
-23.2%
2010
35
7,450
5
28,283
1,221
25,998
- -
61,731
-7.5%
2011
33
6,300
14
10,737
880
20,265
1 2,023
39,325
-36.3%
2012
45
9,827
11
21,247
-
-
2 2,291
33,365
-15.2%
2013
50
15,136
8
4,954
-
1 160
20,250
-39.3%
2014
51
13,101
12
10,392
-
- -
23,493
16.0%
Source - Consolidated City/County Building Department
267
City of South Bend, Indiana
Department
General Government
Mayor's Office
City Clerk's Office
Common Council (elected officials, part -time)
Administration and Finance
Legal Department
Engineering
31 1 Call Center
Safety and Risk
Human Rights
Public Safety
Police Department
Communication Center
Fire Department
Building Maintenance
Culture and Recreation
Parks and Recreation (2)
Convention and Events Management (1)
Economic Development
Department of Community Investment
Highways and Streets
Street Department
Traffic and Lighting
Enterprise Funds
Water Works
Wastewater
Organic Resources (formerly in Wastewater)
Sewer
Solid Waste
Building Department
Code Enforcement (formerly General Gov't)
Internal Service Fund
Central Services
Total Positions
Statistical Section
Full -time Equivalent City Government Employees by Department
Last Ten Fiscal Years
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
10.00
10.00
10.00
9.00
8.00
7.00
7.00
6.00
6.00
7.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
5.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
31.00
32.00
31.00
29.00
26.00
26.00
27.00
22.00
20.00
21.00
15.00
15.00
15.00
15.00
9.00
9.00
9.00
9.00
10.00
10.00
19.00
19.00
18.50
18.50
16.00
19.00
17.00
15.00
13.00
14.00
-
-
-
-
-
-
-
-
5.00
7.00
3.00
3.00
3.00
-
-
-
-
-
-
-
6.00
6.00
6.00
317.00
317.00
320.00
317.00
279.00
293.00
293.00
291.00
291.00
295.00
31.00
31.00
30.00
30.00
37.00
38.00
35.00
35.00
33.00
34.00
255.00
255.00
254.00
254.00
246.00
255.00
258.00
249.00
255.00
257.00
7.00
7.00
7.00
7.00
4.00
3.00
3.00
-
-
-
123.00
122.00
122.00
121.00
111.00
113.00
114.00
114.00
113.00
87.00
50.00
49.00
16.00
15.00
13.00
13.00
14.00
14.00
14.00
14.00
42.00
42.00
35.00
33.00
26.00
26.00
25.00
24.00
26.00
25.00
71.00
66.00
54.00
54.00
51.00
52.00
56.00
52.00
60.00
59.00
11.00
11.00
11.00
11.00
6.00
0.00
0.00
0.00
0.00
0.00
86.00
86.00
86.00
80.00
82.00
75.00
74.00
73.00
70.00
68.00
51.00
53.00
54.50
56.50
48.00
51.00
49.00
46.00
45.00
42.00
-
-
-
-
-
-
-
6.00
6.00
6.00
30.00
29.00
28.00
28.00
33.00
35.00
36.00
39.00
34.00
33.00
31.00
31.00
26.00
26.00
26.00
26.00
23.00
24.00
26.00
22.00
22.00
22.00
22.00
22.00
15.00
13.00
13.00
13.00
14.00
13.00
28.00
28.00
27.00
27.00
27.00
23.00
25.00
25.00
24.00
23.00
50.00
49.00
49.00
46.00
39.00
41.00
41.00
42.00
43.00
38.00
1,294.00
1,288.00
1,230.00
1,213.00
1,1 16.00
1,132.00
1,133.00
1,122.00
1,131.00
1,098.00
268
City of South Bend, Indiana
Department
Summary by Activity
General Government
Public Safety
Culture and Recreation
Economic Development
Highways and Streets
Enterprise Funds
Internal Service Fund
Total Positions
Statistical Section
Full -time Equivalent City Government Employees by Department (Continued)
Last Ten Fiscal Years
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
89.00
90.00
88.50
85.50
73.00
75.00
74.00
75.00
77.00
82.00
610.00
610.00
611.00
608.00
566.00
589.00
589.00
575.00
579.00
586.00
173.00
171.00
138.00
136.00
124.00
126.00
128.00
128.00
127.00
101.00
42.00
42.00
35.00
33.00
26.00
26.00
25.00
24.00
26.00
25.00
82.00
77.00
65.00
65.00
57.00
52.00
56.00
52.00
60.00
59.00
220.00
221.00
216.50
212.50
204.00
200.00
195.00
201.00
195.00
207.00
50.00
49.00
49.00
46.00
39.00
41.00
41.00
42.00
43.00
38.00
1,266.00
1,260.00
1,203.00
1,186.00
1,089.00
1,109.00
1,108.00
1,097.00
1,107.00
1,098.00
Excludes seasonal, part -time, and temporary positions
(1) Includes reduction of 34 positions in the City's convention facility (Century Center) during 2007. Century Center is being managed by a private company under an agreement
with the City of South Bend.
(2) Potawatomi Zoo employees (33) became employees of the Potawatomi Zoological Society through a public - private partnership as ofjanuary 1, 2014.
Source: City of South Bend's Performance -based Budgets and Personnel Records
1,400.00
1,200.00
1,000.00
800.00
600.00
400.00
200.00
0.00
Summary of Employees by Activity
BEL
--*-Total Positions
t Public Safety
f Enterprise Funds
Culture and Recreation
- General Government
- Highways and Streets
- Internal Service Fund
- Economic Development
i
269
City of South Bend, Indiana
Statistical Section
Salary Rate Comparison
1990-2014
- - - -- I st Class Patrol Officer ----- - -- I st Class Fire Fighter-- -
Year Percent Base Salary Percent Base Salary Non - bargaining Teamsters
1990
3.62% $
20,071
4.74% $
19,869
3.00 -4.00%
.25 per hour
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
1.50% + $300 bonus
.15 per hour
1995
4.82%
22,850
3.00%
22,569
1.50% + $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
3.01%
53,100
2.00%
2.00%
Source - City of South Bend personnel records
270
City of South Bend, Indiana
Type of Coverage
LIABILITY
Comprehensive General Liability
Police Professional Liability
Ambulance Malpractice Liability
Premises Liability
(Clay Utilities, Century Center,
Parking Garages)
CGL - Stadium
Liquor Liability
CRIME
Public Employee Dishonesty
PROPERTY
All risk blanket building and contents
Business Income
Machinery Breakdown
Fine Arts
Valuable Papers and Records
Contractor's Equipment
Flood Insurance - Pump station and contents
Eddy Street Commons Parking Garage
Building and Infrastructure
Business Income and Rental Value
Flood
Earthquake
OTHER
Workers' Compensation
Third -party Fee
Excess Over Self- insured
$400,000 Retention Each Accident
Statistical Section
Insurance Coverage
2014
Limits of
Estimated
Liability
Annual Premium
Statutory
Self- Insured
Statutory
Self- Insured
Statutory
Self- Insured
Statutory
Self- Insured
Statutory
Self- Insured
4/26/14- 15 $1,000,000
$1,799
12/3 1/ 14 - 15 $1,000,000
$9,128
7/1/14- 15
$621,935,550
$410,122
Included in above
Included in above
Included in above
Included in above
Included in above
Included in above
Included in above
Included in above
Included in above
Included in above
1/15/14- 15 $670,000
$6,557
3/2/14- 15
$36,000,000 $26,115
$15,000,000 Included in above
$25,000,000 Included in above
$25,000,000 Included in above
1/1/14- 15
Statutory Self- Insured
Statutory $50,000
Statutory $1 16,315
Source: City of South Bend Administration & Finance Department
Gibson Insurance Company
271
City of South Bend, Indiana
Statistical Section
Financial Institutions
Last Ten Years
(Amounts in 000s)
Percent
Banks Savings and Loans Credit Unions Increase/
Year Branches Deposits Branches Deposits Branches Deposits Total Deposits (Decrease)
2005
30
$1,851,156 10 $195,445
24
$1,798,313
$3,844,914
17.0%
2006
35
2,054,972 5 89,039
24
1,857,323
4,001,334
4.1%
2007
35
2,183,105 5 86,561
24
1,975,374
4,245,040
6.1%
2008
40
2,184,092 - -
24
2,699,677
4,883,769
15.0%
2009
40
2,443,390 - -
23
2,914,347
5,357,737
9.7%
2010
40
3,108,702 - -
n/a
2,410,711
5,519,413
3.0%
2011
39
3,342,964 - -
n/a
2,474,034
5,816,998
5.4%
2012
40
3,201,888 - -
n/a
2,735,212
5,937,100
2.1%
2013
37
3,730,018 - -
n/a
2,854,527
6,584,545
13.2%
2014
39
2,548,101 - -
n/a
2,91 1,596
5,459,697
-17.1%
Banks Credit Unions
Ist Source Bank
$1,220,859
46.10%
Teacher's Credit Union
$2,053,365
70.52%
Key Bank
440,778
16.65%
Notre Dame Federal Credit Union
421,922
14.49%
Wells Fargo
393,571
14.86%
Community Wide Credit Union
285,330
9.80%
Others
592,893
22.39%
AAA Federal Credit Union
51,237
1.76%
Total
$2,648,101
100.00%
Policemen's Federal Credit Union
50,126
1.72%
Others
49,616
1.70%
Total
$2,911,596
100.00%
n/a - information is not available
Bank 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). Summary of Deposits, Deposits Market Share Report, Indiana,
St. Joseph County, South Bend, Run 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.
272
City of South Bend, Indiana
Police Department
2013 2014
Authorized Officers
Vehicles
Special Officer Groups:
K -9 Patrols
SWAT Team
Metro Drug Task Force (of 20 total)
NEST - Special Neighborhood Unit
Motorcycle Patrol Officers
Bomb Squad
Crime Prevention Officers
Crime Data:
Murders
Rapes
Robbery
Aggravated Assault
Residential Burglary
Non - residential Burglary
Larceny
Auto Theft
Arson
Calls for Service
Dispatches
Miles Driven
Arrests
260
358
8
17
13
7
6
5
4
9
93
363
199
1, 171
297
3,095
326
27
89,707
89,707
3,461, 374
2,961
Fire Department
Paid Department established 1887
260
388
8
17
13
7
5
3
4
17
98
341
235
911
311
3,190
332
30
89,428
89,428
3,321,136
2,608
273
Statistical Section
Miscellaneous Statistics
December 31, 2014
Department of Public Works
2013 2014
Traffic Signals
Street Lights (City maintained)
Miles of Streets
Miles of Sidewalks
Miles of Alleys
Miles of Sanitary Sewers and Storm Drains
City Owned Vehicles & Related Units
Trash Picked Up Per Week (in tons)
Si¢n Shop
Work orders for sign maintenance,
installation or removal
Miles of yellow and white paint
Pre - formed plastic arrows used for
street markings
Crosswalk painting at intersections
Turn arrows in turn lanes
Detour routes
Temporary No Parking postings
Built Portables
Railroad Crossings
Special Signs Built
Barricades set up for events (# of events):
Block Parties
Sewer Utility
Customers
Dry Tons of Sludge produced per year
Miles of Sanitary Sewer Lines
Miles of Storm Sewer Lines
Customers /Meters
Irrigation Customers
Wells /Pumps in service
Pumping Capacity
Daily Consumption
Peak Demand
Miles of Distribution Systems
Fire Hydrants
Water Utility
167 162
2,700 3,000
525 525
695 695
398 398
661 660
1,127 1,195
488/wk 519 /wk
2013 2014
1,719 2,169
306 160
40
2013
2014
Sworn Firefighters
20
0
(51 of which are Paramedics)
251
251
Fire Apparatus
20
20
Hazardous Materials Truck
I
I
Reserve Pumper Trucks
3
3
Reserve Ladder Trucks
2
2
River Rescue Boats
3
3
Ambulances
7
7
Neonatal (Newborn) Units
3
3
Fire Runs
3,178
3,326
Ambulance Runs
12,834
13,317
273
Statistical Section
Miscellaneous Statistics
December 31, 2014
Department of Public Works
2013 2014
Traffic Signals
Street Lights (City maintained)
Miles of Streets
Miles of Sidewalks
Miles of Alleys
Miles of Sanitary Sewers and Storm Drains
City Owned Vehicles & Related Units
Trash Picked Up Per Week (in tons)
Si¢n Shop
Work orders for sign maintenance,
installation or removal
Miles of yellow and white paint
Pre - formed plastic arrows used for
street markings
Crosswalk painting at intersections
Turn arrows in turn lanes
Detour routes
Temporary No Parking postings
Built Portables
Railroad Crossings
Special Signs Built
Barricades set up for events (# of events):
Block Parties
Sewer Utility
Customers
Dry Tons of Sludge produced per year
Miles of Sanitary Sewer Lines
Miles of Storm Sewer Lines
Customers /Meters
Irrigation Customers
Wells /Pumps in service
Pumping Capacity
Daily Consumption
Peak Demand
Miles of Distribution Systems
Fire Hydrants
Water Utility
167 162
2,700 3,000
525 525
695 695
398 398
661 660
1,127 1,195
488/wk 519 /wk
2013 2014
1,719 2,169
306 160
40
169
378
229
20
0
41
62
503
584
250
0
39
4
1050
1,124
126
153
10
24
2013
2014
39,322
39,461
2,490
2,645
528
527
133
133
2013 2014
39,954 40,091
2,815 2,827
30 30
60 m.g.d. 60 m.g.d.
15.3 m.g.d. 14.7 m.g.d.
27.1 m.g.d. 22.8 m.g.d.
584 583
5,436 5,448
City of South Bend, Indiana
South Bend International Airport
Passenger
Year Volume
2005 693,675
2006 729,619
2007 779,356
2008 704,418
2009 625,077
2010 626,597
2011 599,127
2012 589,030
2013 629,287
2014 602,555
The South Bend International Airport had 33,503 take -offs
and landings during 2014. Approximately 36 commercial
airline flights per day fly nonstop to 10 airports.
Commercial airlines with operations at South Bend
International Airport (market share):
Transportation
South Bend Public Transportation Corporation
2013
2014
Allegiant Air
29.30%
32.01%
Delta Connection
40.17%
44.34%
United Express
23.36%
21.95%
Frontier
5.42%
0.00%
Charters /Nonscheduled
1.75%
1.70%
Total
100.00%
100.00%
Bus Passengers (to O'Hare /Midway)
31,058
37,315
Train Passengers (South Shore)
257,997
251,426
Transportation
South Bend Public Transportation Corporation
Statistical Section
Miscellaneous Statistics
December 31, 2014
2013
2014
Motor Bus (Fixed Route)
exhibit space
Route Miles
286.8
286.8
Ridership
2,239,076
2,188,951
Miles of Service
1,318,612
1,362,052
Revenue Miles
1,245,780
1,252,888
Demand Response (ACCESS)
Over 4,000 available rooms
Ridership
57,831
61,828
Total Miles
313,022
326,381
Revenue Miles
280,904
293,667
Other Transportation
43 Trucking Lines, 33 Terminals
4 Interstate Bus Lines
4 Major Rail Systems (freight and passenger)
Colleges and Universities
Universities and Colleges
Enrollment
2013
2014
University of Notre Dame
12,088
12,124
Indiana University at South Bend
8,490
7,859
Bethel College
1,804
1,800
St. Mary's College
1,479
1,500
Holy Cross College
525
525
Trine University - South Bend
154
161
Brown Mackie College - South Bend
448
434
Purdue University South Bend
200
200
Technical Colleges
Enrollment
2013
2014
IVY Tech Community College
8,003
6,189
Statistical Section
Miscellaneous Statistics
December 31, 2014
Major hotels and meeting rooms:
Double Tree facilities to seat 300
Hilton Garden Inn facilities to seat 600
The Morris Inn facilities to seat 300
Waterford Estates Lodge facilities to seat 600
Health Care
The City of South Bend has excellent healthcare access
at costs below the national average and the lowest in the
Midwest region. The City has one major hospital:
Memorial Health Systems 526 beds
Communications
Access to:
4 Major Television Networks (WNDU, WSJV, WSBT, WBND)
I Public Broadcasting Television Station (WNIT)
2 Local Television Stations (WHME, WMWB)
I Major Newspaper (The South Bend Tribune)
25 Radio Stations
Famous Residents
South Bend has been the home to many distinguished
individuals including the following persons:
Schuyler Colfax, 17th U.S. Vice President
John Fogerty, singer
Michael Warren, actor
Chad Everett, actor
Sidney Pollack, actor /director
Knute Rockne, football coach
John Wooden, basketball coach
Joe Kernan, former South Bend Mayor and Indiana Governor
Ryan Newman, racecar driver
Skylar Diggins, woman's basketball player
Other
- Incorporated in 1865
- County Seat of St. Joseph County
- South Bend officially began under the name South Hold but the
name was changed by the Post Office in 1830 to avoid confusion
with other communities that used that name. The name South
Bend was used because the City is located at the southernmost
point of the St. Joseph River.
- Average High Temperature:
January 31 degrees Fahrenheit
July 83 degrees Fahrenheit
274
Convention Facilities
Century Center
75,000 square feet of
exhibit space
2,590 available seating
750 seat theater
Morris Performing
Arts Center
2,500 available seating
Hotels /Motels
43 motels /hotels
4 Bed and Breakfasts
Over 4,000 available rooms
Major hotels and meeting rooms:
Double Tree facilities to seat 300
Hilton Garden Inn facilities to seat 600
The Morris Inn facilities to seat 300
Waterford Estates Lodge facilities to seat 600
Health Care
The City of South Bend has excellent healthcare access
at costs below the national average and the lowest in the
Midwest region. The City has one major hospital:
Memorial Health Systems 526 beds
Communications
Access to:
4 Major Television Networks (WNDU, WSJV, WSBT, WBND)
I Public Broadcasting Television Station (WNIT)
2 Local Television Stations (WHME, WMWB)
I Major Newspaper (The South Bend Tribune)
25 Radio Stations
Famous Residents
South Bend has been the home to many distinguished
individuals including the following persons:
Schuyler Colfax, 17th U.S. Vice President
John Fogerty, singer
Michael Warren, actor
Chad Everett, actor
Sidney Pollack, actor /director
Knute Rockne, football coach
John Wooden, basketball coach
Joe Kernan, former South Bend Mayor and Indiana Governor
Ryan Newman, racecar driver
Skylar Diggins, woman's basketball player
Other
- Incorporated in 1865
- County Seat of St. Joseph County
- South Bend officially began under the name South Hold but the
name was changed by the Post Office in 1830 to avoid confusion
with other communities that used that name. The name South
Bend was used because the City is located at the southernmost
point of the St. Joseph River.
- Average High Temperature:
January 31 degrees Fahrenheit
July 83 degrees Fahrenheit
274
By the Numbers
FROM THE CITY OF SOUTH BEND
Since 2012, 1
0 unemployment /
reduced by
3
19368
jobs announced
THE CONCERT INDUSTRY'S
LEADING TRADE PUBLICATION,
POLLSTAR, RANKED THE MORRIS
PERFORMING ARTS CENTER NO.
SS IN ITS "2014 LIST OF TOP 200
WORLDWIDE THEATRES"
#lIN
INDIANA
490
0 increase in the number of animals sent
to private rescue partners
o$11109078,262
in commercial private investment
consecutive year
THE WASTEWATER PLANT
RECEIVED THE INDIANA WATER
ENVIRONMENTAL ASSOCIATION
SAFETY EXCELLENCE AWARD
The S.M.A.R.T. program has trained
South Bend
residents to become
I S Certified Production
Technicians
Program attendance at all Parks and
Recreation facilities totaled
@9219021
VACANT AND ABANDONED i Council approved a
HOUSES HAVE BEEN �j
REPAIRED, DEMOLISNED, $5.511 nulleon parks bond
OR CONTRACTED FOR , on the heels of a newly created parks master
DEMOLITION plan that prioritized needs across the system
1,3408 Anew summer GUARANTEED ENERGY SAVINGS
' mentoring CONTRACT AT CENTURY CENTER =
building projects i I program jobs for
started with a $809000
- t ?1 = -h ?rio of HIGH SCHOOL
X84,140,867 12171UDENTS REDUCTION OF YEARLY OPERATING COSTS
Through an Emergency
Solutions Grant, the
• •
City helped fund 5
shelters to serve
?*'3,685
4 o le
P P
4 Q � households assisted through
]s housing programs and counseling
A market -based strategic
15 REVITALIZATION PLAN
vas adopted for Lincolnway West and Western Avenue