WS - D - Tiffin CL - FY 2023

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 $1,211,040 in 2023, after transfers in and out, and other financing sources and uses, the General Fund cash balance increased by $1,112,429. The following bar graph highlights the General Fund operations for the last two 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 $5,170,083 at June 30, 2023, represents 228.0% of expenditures based on 2023 expenditure levels. The City also has $621,566 of restricted fund balance for unspent ARPA dollars. $6,000,000 $5,000,000 $4,000,000 $3,000,000 $4,679,220 $5,791,649 $2,000,000 $2,930,145 $3,475,385 $1,000,000 $1,667,227 $2,264,345 $- 2022 2023 Receipts Disbursements Cash Balance 8