City of South Bend Debt Report for 2017 - 2018
Presentation at Debt Meeting September 11, 2018
NOTE: 2018 was not uploaded by the City to the State of Indiana Gateway.
Also note that although they say here the Principal and Interested due in 2018 is $26,358,409, they are now showing it in the City materials to be Principal of $30,360,110 + Interest of $12,650,388 = $43,010,498 This is 13.27% of the Total Revenues for the year. That is a $16,652,089 underestimation of what it says here on the State Gateway and what it ended up being.
The City put years 2007 - 2016 and 2018 - 2037, but did not include the information for 2017.
(See the two debt pages below.)
Also note that although they say here the Principal and Interested due in 2018 is $26,358,409, they are now showing it in the City materials to be Principal of $30,360,110 + Interest of $12,650,388 = $43,010,498 This is 13.27% of the Total Revenues for the year. That is a $16,652,089 underestimation of what it says here on the State Gateway and what it ended up being.
The City put years 2007 - 2016 and 2018 - 2037, but did not include the information for 2017.
(See the two debt pages below.)
Debt Service in 2018 says, $82,282,910 was Economic Development, $26,112,421 on Highways and $7,296,274 on Public Safety. $19,466,343 was on Parks. Where do you want the money spent?
NOTE: It shows the Principal Balance of $230,671,001 the City currently owes, but not the Interest. On the State Gateway it looks like the Interest owed is around $29M for this current debt, but without it being updated, it is most likely low. In the 2017 Adopted Budget Book they do not show the Principal and Interest Balances.