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

City of Tiffin Financial Analysis Enterprise Funds The following graph shows the operating income for the Enterprise Funds: Operating Income - Enterprise Funds $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $- $(100,000) 2022 2023 2024 Water $180,314 $356,697 $347,522 Sewer 738,845 694,815 669,730 Storm Water 47,583 73,872 45,350 Recycling 12,175 (25,924) 14,816 The City experienced positive operations in each enterprise fund for the year ended June 30, 2024. Water operating income decreased $9,175 due to increased repair and maintenance costs. There was also use of money and property receipts of $177,907, capital project disbursements of $744,108 and net transfers out of $25,400. Sewer operating income decreased $25,085 due to increased repair and maintenance costs. In addition, there were debt service disbursements of $510,212 and capital project disbursements of $541,463. Storm water operating income decreased $28,522 due to utility network purchases. Recycling operating income increased $40,740 due to an increase in the number of customers. We recommend the City continue to monitor operating costs in the Enterprise Funds to ensure rates are sufficient to provide continued operating income and to cover debt payment requirements. 11