07 - FINANCIAL REPORT- JANUARY 2017

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City of Paris January 2017 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 28.57% more than this time last year. This difference is a cash flow timing issue. Current taxes are 80.73% collected vs. 72.00% last year again reflecting the timing of tax deposits. 2. Sales taxes are up 4.92% from last year. 3. Hotel occupancy taxes are down 1.36% from last year. All hotels are current on their taxes. 4. Franchise fees are up 2.22% compared to last year. 5. Permit fees are up 4.16 %. 6. Municipal Court fines are 19.16% below last year's collections. This is only $18,345. 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 5.76 %. 8. EMS fees are up 4.34% compared to last year. 9. Total General Fund revenues are 14.94% above last year reflecting the cash flow timing issue mentioned above. General Fund revenues equal 48.07% of the budget with the City being 33.33% through the budget year. 10. Total General Fund expenditures are down 6.31% compared to last year. General Fund expenditures to date equal 32.26% of budget with the City being 33.33% through the budget year. 11. Sewer revenue is up 0.72% compared to last year. 12. Water revenue is down 0.42% compared to last year. 13. Total Water & Sewer revenues, ignoring transfers, are 0.01% above last year. 14. Total Water & Sewer expenses are 2.95% below last year at this point and represent 22.23% of the total budget (33.20% adjusted for debt payments) while the City is 33.33% through the budget year. Departmental Expenditure Summary: At this point the City is four months or 33.33% 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 nine departments whose expenditures are over 33.33 %. 1. City Council - 52.55°/x. The overage amounts to $14,691. This overage is due to making the annual payments for general liability insurance, membership in the Ark -Tex Council of Governments, and electrical repairs to the building. 2. Accounting - 33.70 %. The overage amounts to $1,600 and is due to the annual payment for the city's financial software.