07 - AUGUST 2017 FINANACIAL REPORT

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City of Paris August 2017 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 4.63% more than this time last year. Current tax collections are at 98.11% vs. 97.10% at this time last year. 2. Sales taxes are up 3.56% from last year. February collections included a onetime net audit collection of $126,245.49. $105,204.58 of this went to the general fund and $21,040.91 to PEDC. 3. Hotel occupancy taxes are up 5.53% from last year. All hotels are current on their taxes. 4. Franchise fees are up 2.17% compared to last year. 5. Permit fees are up 8.86%. The largest area of increase has been in new commercial permits. 6. Municipal Court fines are 5.30% 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 12.20%. The biggest area of increase is interest earned. 8. Sanitation fees are flat being down only 0.31%. 9. EMS fees are up 2.49% compared to last year. 10. Total General Fund revenues, net of any transfers, are 3.73% above last year. General Fund revenues equal 96.90% of the budget with the City being 91.66% through the budget year. 11. Total General Fund expenditures are down 2.37% compared to last year. General Fund expenditures to date equal 89.04% of budget with the City being 91.66% through the budget year. 12. Sewer revenue is down only 0.83%. 13. Water revenue is down 3.30% compared to last year. 14. Total Water & Sewer revenues, ignoring transfers, are 1.88% below last year. 15. Total Water & Sewer expenses are 1.68% below last year at this point and represent 63.85% of the total budget (86.89% adjusted for debt payments) while the City is 91.66% through the budget year. Departmental Expenditure Summary: At this point the City is eleven months or 91.66% 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, Water & Sewer, and Sanitation Funds there are four departments whose expenditures are over 91.66%. 1. City Council -135.47%. The overage amounts to $33,483. This overage is due to election related expenses and electrical repairs to the building. 2. Police -92.42%. The overage amounts to $46,711 and is due to supplies, emergency notification service, phones, travel, vehicle maintenance, electronic data processing, vehicles, and confidential funds.