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07 - July Financial Report
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07 - July Financial Report
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City of Paris <br />July 2019 Financial Report Comments <br />Net to Date Comparison of Revenues: <br />1. The operations and maintenance property tax and related collections are 2.80% more than this <br />time last year. Current tax collections are 97.71% of the tax levy vs. 97.99% last year. <br />2. Sales taxes are up 1.00% from last year. <br />3. Hotel occupancy taxes are down 1.22% from last year. All hotels are current on their taxes. <br />4. Franchise fees are up 3.75% compared to last year. <br />5. Permit fees are up 51.84% from last year. This amounts to $88,368. This increase was caused by <br />new commercial permits. <br />6. Municipal Court fines and related fees are 2.43% above last year's collections. <br />7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed <br />beverage tax, and other minor revenues. This revenue up 7.21% (42,987). This increase comes <br />from interest earnings. <br />8. Sanitation fees are down 4.67% compared to 2018 collections. This is only $13,552 and was <br />expected with more of these fees going directly to the Sanitation Fund in this budget. <br />9. EMS fees are up 8.15% ($191,241) compared to last year. <br />10. Total General Fund revenues, net of any transfers, are 3.26% ($686,488) above last year. <br />General Fund revenues equal 91.13% of the budget with the City being 83.33% through the <br />budget year. <br />11. Total General Fund expenditures are up 1.54% ($280,200) compared to last year. General Fund <br />expenditures to date equal 77.99% of budget with the City being 83.33% through the budget <br />year. <br />12. Sewer revenue is up 3.31% ($155,671). <br />13. Water revenue is "up" 8.67%, but that is due to the credit issued Lamar County Water Supply in <br />March of last year. Without that adjustment, water revenue would have been down $95,040 or <br />0.82%. November 2018 was the final month to be affected by the LCWS adjustment. <br />14. Total Water & Sewer revenues, ignoring transfers and adjustments, are 3.26% above last year. <br />Again, this is due to the LCWS adjustment. Without that adjustment total revenues would have <br />been up 0.70%. <br />15. Total Water & Sewer expenses are 1.54% below last year at this point and represent 55.43% of <br />the total budget (80.88% adjusted for debt payments)while the City is 83.33% through the <br />budget year, <br />Departmental Expenditure Summary: <br />At this point the City is ten months or 83.33% through the budget year. It is important to remember that <br />expenditures do not occur equally throughout the year. For example, capital expenditures and <br />association memberships are one time expenditures that if made early in the fiscal year can produce a <br />distorted expenditure percentage. Within the General, Water & Sewer, and Sanitation Funds there are <br />five departments whose expenditures are over 83.33%. <br />
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