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City of Paris October 2016 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 70.90%% less than this time last year. Collections for both current and delinquent taxes are lower than last year. Current taxes are 0.53% collected vs. 1.48% last year. 2. Sales taxes are up 1.52 %% from last year. 3. Hotel occupancy taxes are up 25.45% from last year. All hotels are current on their taxes. 4. Franchise fees are up 8.80% compared to last year. 5. Permit fees are up 337.31 %. This is only $15,473. 6. Municipal Court fines are 4.04% below 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 up 21.84% but is only $7,531. 8. Sanitation fees appear to be down, but there was a posting error in October 2015 that was not corrected until November 2015. Adjusting for that correction, sanitation fees are within $241 of last year's amount. 9. EMS fees are up 9.54% compared to last year. 10. Total General Fund revenues are 8.38% below last year. This decrease is primarily due to the lower property tax collections noted above. General Fund revenues equal 5.94% of the budget with the City being 8.33% through the budget year. 11. Total General Fund expenditures are down 20.03% compared to last year. General Fund expenditures to date equal 8.50% of budget with the City being 8.33% through the budget year. 12. Sewer revenue is down 2.14% compared to last year. 13. Water revenue is down 8.98% compared to last year. About 60% of the decrease is due to two large billing adjustments. The other 40% reflects a decrease in sales in all four billing cycles compared to last year. 14. Total Water & Sewer revenues, ignoring transfers, are 3.84% below last year for the reason noted above. 15. Total Water & Sewer expenses are 11.50% below last year at this point and represent 5.21% of the total budget (5.21% adjusted for debt payments) while the City is 8.33% through the budget year. Departmental Expenditure Summary: At this point the City is one month or 8.33% through the budget year. It is important to remember that expenditures do not occur equally throughout the year. For example, capital expenditures and association memberships are one time expenditures that if made early in the fiscal year can produce a distorted expenditure percentage. Within the General and Water & Sewer Funds there are eight departments whose expenditures are over 8.33 %.