WS - C - City of Tiffin 2024 - Communication Letter - Final

City of Tiffin Financial Analysis The following pages provide graphic representation of select data pertaining to the financial position and operations of the City. Our analysis of each graph is presented to provide a basis for discussion of past performance. We suggest you review each graph and document if our analysis is consistent with yours. General Fund Receipts exceeded disbursements by $140,944 in 2024, after transfers in and out, and other financing sources and uses, the General Fund cash balance decreased by $168,940. The following bar graph highlights the General Fund operations for the last three years. This graph is intended to show five years of data and additional years will be added in subsequent years. The receipts and disbursements below do not include other financing sources or uses, such as operating transfers, sales from capital assets and debt proceeds. The City currently does not have a fund balance policy. Unassigned fund balance of $5,622,709 at June 30, 2024, represents 169.7% of expenditures based on 2024 expenditure levels. General Fund Activity $6,000,000 $5,000,000 $4,000,000 $5,622,709 $4,679,220 $5,791,649 $3,000,000 $2,930,145 $3,475,385 $3,453,759 $2,000,000 $1,667,227 $2,264,345 $3,312,815 $1,000,000 $- 2022 2023 2024 Receipts Disbursements Cash Balance 8