07 - September monthly financial report

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City of Paris September 2017 Financial Report Comments Net to Date Comparison of Reveinues: 1. The operations and maintenance property tax and related collections are 4.70% more than this time last year. Current tax collections were 98.11% vs. 97.10% last year. 2. Sales taxes are up 2.33% from last year. February collections inciluded 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 2.65% compared to last year adjusting for the utility franchise payment. 5. Permit fees are up 2.20%. 6. Municipal Court fines are 6.57% 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 8.00%. The biggest area of increase is interest earned. 8. Sanitation fees are flat being down only 0.28%, 9. EMS fees are up 3.58% compared to last year. 101. Total General Fund revenues, net of any transfers, are 1.13% below last year. General Fund revenues equal 103.06% of the budget with the City being 100.00% through the budget year. 11, Total General Fund expenditures are down 4.29% compared to last year. General Fund expenditures to date equal 100.125% of budget with the City being 1100,00% through the, budget year. 12. Sewer revenue is down 1.93%. 13. Water revenue is down 4.92% compared to last year, 14. Total Water & Sewer revenues, ignoring transfers, are 3,29% below last year. 15. Total Water & Sewer expenses are 8,34% above last year at this point and represent 66.40% of the total budget (89,44% adjusted for debt payments) while the City is 100.00% through the budget year. Departmental Expenditure Summary: At this point the City is twelve months or 100% 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 nine, departments whose expenditures are over 100,100%. 1. City Council -104.86%. The overage amounts to $5,422. This overage is due to election related expenses. 2. Police -102.84%. The overage arnounts to $175,286 and is due to the third pay period in September plus accrual of September wages not paid until October.