07 - Financial Report - Laserfiche WebLink

Home Browse Search

City of Paris October 2018 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 30.17% more than this time last year. Both current and delinquent taxes exceed last October's collections. Current tax collections were 4.20% of the tax levy vs. 3.78% last year. 2. Sales taxes are down 2.96%% from last year. 3. Hotel occupancy taxes are up 7.32% from last year. All hotels are current on their taxes. 4. Franchise fees are up 34.68% compared to last year. The difference is caused by (a) Suddenlink not paying their quarterly payment until November 2017 vs. October 2018 this year and (b) Municipal ROW fees are up compared to last year. 5. Permit fees are down 43.03% from last year. This amounts to $6,181 and was caused by a decrease in both residential and commercial remodel permits. 6. Municipal Court fines and related fees are 44.90% above last year's collections. This amounts to $8,570. 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 83.37% or $33,542. This comes mostly from collecting some delinquent lease payments. 8. Sanitation fees are down 5.00% compared to October 2017. This is only $1,457 and was expected with more of these fees going directly to the Sanitation Fund in this budget. 9. EMS fees are up 33.25% compared to last year. This increase is just a cash flow timing issue usually caused by claims that were initially rejected but approved for payment after appeal. 10. Total General Fund revenues, net of any transfers, are 13.43% above last year. Property tax collections and EMS fees are the main causes of this increase. General Fund revenues equal 7.63% of the budget with the City being 8.33% through the budget year. 11. Total General Fund expenditures are up 23.03% compared to last year. Most of this increase was found in the Police, Fire, and EMS departments. EMS, for example, has had large expenditures on their new station. General Fund expenditures to date equal 7.91% of budget with the City being 8.33% through the budget year. 12. Sewer revenue is up 11.51%. 13. Water revenue is up 0.14%, but is adversely affected by the billing adjustment to Lamar County Water Supply. Without that adjustment, water revenue would have been up 11.09%. 14. Total Water & Sewer revenues, ignoring transfers, are 4.15% above last year. 15. Total Water & Sewer expenses are 13.30% below last year at this point and represent 4.81% of the total budget (also 4.81% adjusted for debt payments since there have been none this fiscal year) 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