WS - C - Water Sewer Rate Structure Increase Information - Water Plant Upgrade Project

City of Tiffin Water Enterprise Fund Cash Basis Cash Flow Analysis Rate increase Option 1 - cash flow analysis Audited Audited Audited 2% 2% 2% 2% Historical Projection Rate and Usage Information FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030 Number of Meters Res 2,700 2,813 3,080 3,400 3,570 3,749 3,936 4,133 4,339 Rate per 1,000 $5.50 $5.50 $5.50 $5.50 $9.50 $9.69 $9.88 $10.08 $10.28 Minimum Bill Per Gallons $7.00 $7.00 $7.00 $7.00 $15.50 $15.81 $16.13 $16.45 $16.78 Total Water Gallons Sold 150,000,000 157,500,000 165,375,000 173,643,750 182,325,938 191,442,234 Operating Revenues Total Operating Revenues 1,134,566 1,194,464 1,297,345 1,272,236 2,411,239 2,580,342 2,761,347 2,955,093 3,162,480 Operating Expenditures Total Operating Expenditures 954,252 837,767 949,823 1,200,000 1,284,000 1,373,880 1,470,052 1,572,955 1,683,062 Non Operating Total Non-Operating - - 177,907 5,000 5,000 5,000 5,000 5,000 5,000 Revenue for Debt Service 180,314 356,697 525,429 77,236 1,132,239 1,211,462 1,296,295 1,387,138 1,484,418 2025 Water Rev - $15M SRF 20 Year 3.09% - 445,000 1,056,000 1,056,000 1,056,000 1,056,000 2003 Water SRF - PD Off 2023 22,880 22,440 Total Parity Debt 22,880 22,440 - - 445,000 1,056,000 1,056,000 1,056,000 1,056,000 2020 GO - Water portion paid off in FY2032 - Well 113,400 111,500 111,500 111,500 111,500 111,500 111,500 Total Combined WaterDebt 22,880 22,440 113,400 111,500 556,500 1,167,500 1,167,500 1,167,500 1,167,500 D/S Coverage - Parity 7.88 x 15.90 x 0.00 x 0.00 x 2.54 x 1.15 x 1.23 x 1.31 x 1.41 x D/S Coverage - All WaterDebt 7.88 x 15.90 x 4.63 x 0.69 x 2.03 x 1.04 x 1.11 x 1.19 x 1.27 x Capital Expenditures and Transfers Capital Outlays (147,298) (966,170) (744,108) (550,000) (100,000) (100,000) (100,000) (100,000) (100,000) Bond Proceeds Transfers In 138,000 88,000 88,000 88,000 Transfers Out water meters Annual Surplus/Deficit 148,136 (543,913) (244,079) (496,264) 475,739 (56,038) 28,795 119,638 216,918 Fund Balances Beginning Cash Balance 2,154,764 2,302,900 1,758,987 1,514,908 1,018,644 1,494,383 1,438,345 1,467,140 1,586,778 Ending Cash Balance 2,302,900 1,758,987 1,514,908 1,018,644 1,494,383 1,438,345 1,467,140 1,586,778 1,803,696 *Internal Loan paid of FY2025 Assumptions *Estimate and subject to change Sales Growth 5.0% Meter Growth 5.0% Operating Expenses 7.0% Gallons in Base Rate -