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City of Paris <br />May 2016 Financial Report Comments <br />Net to Date Comparison of Revenues: <br />1. The operations and maintenance property tax and related collections are 8.67% more than this <br />time last year. Current taxes are 96.14% collected vs. 95.45% last year. Delinquent tax <br />collections are also strong this year. <br />2. Sales taxes are down 13.42% from last year. This is due to the onetime state audit adjustment <br />payment received last year in the amount of $872,390. Adjusting for this payment, sales taxes to <br />date are up 1.41 %. <br />3. Hotel occupancy taxes are down 2.79% from last year. All hotels are current on their taxes. <br />4. Franchise fees are flat with only an $1,810 increase over last year at this point. <br />5. Permit fees are up 6.15 %. <br />6. Municipal Court fines are 0.98% below last year's collections. <br />7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed <br />beverage tax, and other minor revenues. This revenue is down 10.71% primarily due to an old <br />street assessment that was added to the general ledger last year and the recognition of the <br />associated accrued revenue. <br />8. Sanitation fees are down because all residential related fees were moved to the new Land Fill <br />Fund. In total the fees are comparable to last year. <br />9. EMS fees are up 5.29% compared to last year. <br />10. Transfers from the Water & Sewer Fund are up 2.74% in accordance to 2015 -16 Budget. This <br />year's transfers are distorted by the $1,800,000 transfer out to the Capital Projects Fund for <br />drainage repairs. <br />11. Total General Fund revenues are 4.62% below last year. This decrease is primarily due to the <br />sales tax windfall received last year as discussed above. The total revenue number for the <br />current year is distorted by the $1,800,000 transfer out to the Capital Projects. General Fund <br />revenues equal 78.22% of the budget with the City being only 66.66% through the budget year. <br />12. Total General Fund expenditures are up 1.59% compared to last year. General Fund <br />expenditures to date equal 71.02% of budget with the City being 66.66% through the budget <br />year. <br />13. Sewer revenue is up 2.77% compared to last year. <br />14. Water revenue is up 0.78% compared to last year. <br />15. Total Water & Sewer revenues, ignoring transfers, are 1.68% above last year and equals 65.27% <br />of the budget which is just below the 66.66% budget to date percentage. Transfers are ignored <br />for this calculation. <br />16. Total Water & Sewer expenses are 8.64% above last year at this point in time and represent <br />48.12% of the total budget (60.64% adjusted for debt payments) while the City is 66.66% <br />through the budget year. <br />Departmental Expenditure Summary: <br />At this point the City is eight months or 66.66% through the budget year. It is important to remember <br />that expenditures do not occur equally throughout the year. For example, capital expenditures and <br />