07 - AUGUST 2016 FINANCIAL REPORT

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City of Paris August 2016 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 8.35% more than this time last year. Current taxes are 97.10% collected vs. 96.35% last year. Delinquent tax collections are also strong this year. 2. Sales taxes are down 9.65% from last year. This is due to the onetime state audit adjustment payment received last year in the amount of $872,390. Adjusting for this payment, sales taxes to date are up 2.43 %. 3. Hotel occupancy taxes are down 1.04% from last year. All hotels are current on their taxes. 4. Franchise fees are down 1.25% compared to last year at this point. 5. Permit fees are down 37.99 %. New commercial permits are down. 6. Municipal Court fines are 1.67% above last year's collections. 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is down 42.06% primarily due to a reimbursement last year by the State of ice storm related expenses. 8. Sanitation fees are down because all residential related fees were moved to the new Land Fill Fund. In total the fees are comparable to last year. 9. EMS fees are up 5.98% compared to last year. 10. Transfers from the Water & Sewer Fund are up 6.77% in accordance to 2015 -16 Budget. This year's transfers are distorted by the $1,800,000 transfer out to the Capital Projects Fund for drainage repairs. 11. Total General Fund revenues are 6.57% below last year. This decrease is primarily due to the sales tax windfall received last year as discussed above. The total revenue number for the current year is distorted by the $1,800,000 transfer out to the Capital Projects. General Fund revenues equal 96.80% of the budget (adjusted for the transfer to Capital Projects) with the City being 91.66% through the budget year. 12. Total General Fund expenditures are up 0.88% compared to last year. General Fund expenditures to date equal 94.54% of budget with the City being 91.66% through the budget year. 13. Sewer revenue is up 2.61% compared to last year. 14. Water revenue is up 3.01% compared to last year. 15. Total Water & Sewer revenues, ignoring transfers, are 2.90% above last year and equals 93.29% of the budget which is just above the 91.66% budget to date percentage. Transfers are ignored for this calculation. 16. Total Water & Sewer expenses are 6.38% above last year at this point in time and represent 64.62% of the total budget (88.21% adjusted for debt payments) while the City is 91.66% through the budget year.