07 - October Financial Report - Laserfiche WebLink

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City of Paris October 2017 Financial Report Comments Net to Date Comparison of Revenues: 1, The operatuons and maintenance property tax and related collections are 457,41% more than this time last year, This distorted increase is due to unusually low property tax collections in October 2016. Current tax collections were 3.78% of the tax levy vs. 0.53% last year, 2. Sales taxes are up 7.30% from last year. 3. Hotel occupancy taxes are up 33,03% from last year. All hotels are current on their taxes. 4. Franchise fees are down 39.67% compared to last year. The difference is caused by Suddenlink not paying their quarterly payment until November 2017 vs. October 2016 last year. 5. Permit fees are down 28,40% from last year, This, amounts to less than $6,000. 6. Municipal Court fines and related fees are 11.35,% 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 down 4,23%. 8. Sanitation fees, are clown 15.50% compared to October 2016. This is only $5,347 and was expected with more of these fees going directly to the Sanitation Fund in this budget. 9. EMS fees are up 4.06% compared to last year. 110, Total General Fund revenues, net of any transfers, are 20,95% above last year. As mentioned above, reported property tax collections are the main cause of this increase. General Fund revenues equal 5,38% of the budget with the Cwty being 8.33% through the budget year, 11. Total General Fund expenditures are down 20.23% compared to last year. General Fund expenditures to date equal 6.60% of budget with the City being 8.33% through the budget year. 12, Sewer revenue is down 3.06%. 13. Water revenue is up 1.65% compared to last year, 14, Total Water & Sewer revenues, ignoring transfers, are 1.11% below last year. 15. Total Water & Sewer expenses are 13.64% above last year at this point and represent 5.70% of the total budget (5.70% 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. Wuthin the General, Water & Sewer, and Sanitation Funds there are four departments whose expenditures are over 8.33%. 1. City Council -33,78%. The overage amounts to $20,753. This overage is due to the annual insurance payment and election related expenses. 2. Cox Field Airport -18.16%. The overage amounts to $11,567 and is due to the annual insurance payment.