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STORM WATER FUND <br />At December 31, 2023, the Storm Water Fund had a cash balance of $2,082,104 and total net position of <br />$3,363,021. Of this net position total, $1,266,506 is the investment in capital assets, while $2,096,515 is <br />unrestricted. The following graph shows the financial position of the Storm Water Fund over the past <br />10 years: <br />$3,500,000 <br />$3,000,000 <br />$2,500,000 <br />$2,000,000 <br />$1,500,000 <br />$1,000,000 <br />$500,000 <br />Storm Water Fund Financial Position <br />Year Ended December 31, <br />2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 <br />� Cash, Net of Interfund Loans Total Net Position Operating Revenue <br />The following graph shows the operating results of Storm Water Fund for the last 10 years: <br />$ 5 00,000 <br />$450,000 <br />$400,000 <br />$350,000 <br />$300,000 <br />$250,000 <br />$200,000 <br />$150,000 <br />$100,000 <br />$50,000 <br />2014 <br />Storm Water Fund Operating Results <br />Year Ended December 31, <br />2015 2016 2017 2018 2019 2020 2021 2022 2023 <br />Operating Expenses Operating Revenue <br />The Storm Water Fund maintains a healthy financial position. During fiscal 2023, the Storm Water Fund <br />reported an operating income of $64,864, compared to an operating income of $64,935 in fiscal 2022. The <br />increase in utility rates nearly offset the increase in operating expenses. The City should continue to <br />review utility rates during its annual budget process to make sure an adequate, yet fair, rate is charged for <br />the services provided. <br />-15- <br />