I-1 - Preliminary Official Statement - UR Loan Agreement

Exhibit C City of Tiffin Statement of Cash Receipts, Disbursements and Changes in Cash Balances Proprietary Funds As of and for the year ended June 30, 2019 Enterprise Nonmajor Water Sewer Recycling Total Operating receipts: Charges for service $ 734,648 860,307 258,604 1,853,559 Use of money and property 1,474 1,474 - 2,948 Miscellaneous 9,169 5,959 - 15,128 Total operating receipts 745,291 867,740 258,604 1,871,635 Operating disbursements: Business type activities 641,774 296,775 236,169 1,174,718 Excess of operating receipts over operating disbursements 103,517 570,965 22,435 696,917 Non-operating receipts (disbursements): Revenue bond proceeds - 3,673,761 - 3,673,761 Debt service (22,100) (518,288) - (540,388) Capital projects - (4,389,318) - (4,389,318) Net non-operating receipts (disbursements) (22,100) (1,233,845) - (1,255,945) Excess of receipts over disbursements 81,417 (662,880) 22,435 (559,028) Transfers in 156,645 156,645 - 313,290 Change in cash balances 238,062 (506,235) 22,435 (245,738) Cash balances beginning of year 688,464 906,864 42,014 1,637,342 Cash balances end of year $ 926,526 400,629 64,449 1,391,604 Cash Basis Fund Balances Restricted for debt service $ 1,808 11,675 - 13,483 Restricted for capital projects 215,385 - - 215,385 Unrestricted 709,333 388,954 64,449 1,162,736 Total cash basis fund balances $ 926,526 400,629 64,449 1,391,604 See notes to financial statements. 21