better last year. City staff is careful about investing and preserves principle. The year finished in a strong financial position.

• Refuse Fund receipts were 99.93% for the year and disbursements were 91.86% of budget. Fee increases may need to be looked into in the next few years.
• Enterprise Funds receipts were 103.40% for the year and disbursements were 93.53% of budget. The Enterprise Funds include Water, Sanitary Sewer and Stormwater. The budget included planned capital expenditures, including the Far Hills Storm Sewer Project.

• 2023 FINANCIAL AUDIT: Mr. Klopsch reported that the audit of the 2023 city finances was recently completed. No items were noted and an unqualified “Clean” opinion is expected. He thanked Finance Director Cindy Stafford and the finance department for their diligence.
• 2024 FINANCIALS THROUGH APRIL
  • General City Services receipts through April are at 41.21% of budget, while disbursements and encumbrances are at 41.58% of budget. The first of two property tax receipts and property tax assessments are received in April and May. Blanket purchase orders are submitted for many purchases at the beginning of the year to cover expenses for the entire year.
  • Refuse Fund receipts through April are at 34.26% of budget and disbursements and encumbrances are at 49.19% of budget.
  • Water Fund receipts through April are at 26.57% of budget and disbursements and encumbrances are at 45.16% of budget. Another water rate increase will need to be considered in 2025.
  • Sanitary Sewer Fund receipts through April are at 30.05% of budget and disbursements and encumbrances are at 25.69% of budget. Like the Water Fund, we strive to have the Sanitary Sewer Fund start with a $1 million minimum to maintain the fund. If the year goes as planned, the fund will be below $1 million at the end of 2024. Most of the Sanitary Sewer Fund expenses relate to wastewater treatment, the cost of which is about 63% of our budget. Montgomery County and Dayton’s wastewater treatment rates increased by about 29%. These increases have been factored into the 2024 budget. A sanitary sewer rate increase may need to be considered in 2025 to cover the Montgomery County and Dayton rate hikes. There are also planned capital expenditures over the next few years.
  • Stormwater Fund receipts through April are at 35.59% of budget and disbursements and encumbrances are at 86.78% of budget. This includes $985,000 for the Far Hills Storm Sewer Reconstruction Project.

Mr. Klopsch then delivered the following presentation:

• 2024 CONSTRUCTION PROJECTS/CAPITAL EXPENSES: The following capital expenses are in the 2024 Budget. Mr. Klopsch provided a brief overview of some of the items.
  • General City Services
    • Computer Equipment: $50,000
    • Street Banner Replacement: $15,000
    • Cameras… In-car and Body Worn: $15,000
    • 911 Vesta Equipment Upgrade: $30,000
    • Hanging Baskets: $35,000
    • S-29 2000 Air Compressor Replacement: $30,000