WS - D - Tiffin CL - FY 2023

City of Tiffin Financial Analysis Enterprise Funds The following graph shows the operating income for the Enterprise Funds: $850,000 $750,000 $650,000 $550,000 $450,000 $350,000 $250,000 $150,000 $50,000 $(50,000) 2022 2023 Water $180,314 $356,697 Sewer 738,845 591,931 Storm Water 47,583 73,872 Recycling 12,175 (25,924) The City experienced positive operations in each enterprise fund for the year ended June 30, 2023 except for Recycling. Water operating income increased $176,383 due to an increased number of customers and decreased repair and maintenance costs. In addition, there were debt service disbursements of $22,440 and capital project disbursements of $966,170. Sewer operating income decreased $146,914 due to increased sewer line installation and increased engineering costs for future projects. In addition, there were debt service disbursements of $508,200 and capital project disbursements of $14,255. Storm water operating income increased $26,289 due to an increased number of customers and fewer storm sewers repairs. Recycling had an operating loss of $25,924, which is a decrease of $38,099 due to an increase in the garbage and recycling contract. 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