07 - November 2019 financial report

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City of Paris November 2019 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 3.36% less than this time last year. Current tax collections are 8.41% of the tax levy vs. 7.87% last year. 2. Sales taxes are up 2.39% from last year. 3. Hotel occupancy taxes are up 19.66% from last year. This increase reflects the 2% increase in the tax rate that went into effect 7-1-2019. 4. Franchise fees are down 20.03% compared to last year. Both Atmos and Suddenlink fees are down as are the bingo fees and the street use fees. 5. Permit fees are down 2.89% from last year. This amounts to only $1,055. 6. Municipal Court fines and related fees are 12.65% 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 up 22.61% caused by lease payments and a reimbursement for previous year's grant. 8. Sanitation fees are down 12.86% compared to 2019 collections. This is only $7,114 and was expected with more of these fees going directly to the Sanitation Fund in this budget. 9. EMS fees are up 1.92% compared to last year. 10. Total General Fund revenues, net of any transfers, are 0.14% below last year. General Fund revenues equal 14.61% of the budget with the City being 16.66% through the budget year. 11. Total General Fund expenditures are up 4.40% ($163,310) compared to last year. General Fund expenditures to date equal 16.39% of budget with the City being 16.66% through the budget year. 12. Sewer revenue is up 5.87% ($60,692). 13. Water revenue is up 0.66% ($9,070). 14. Total Water & Sewer revenues, ignoring transfers and adjustments, are 1.92% above last year. 15. Total Water & Sewer expenses are 1.60% below last year at this point and represent 10.23% of the total budget (10.23% adjusted for debt payments)while the City is 16.66% through the budget year. Departmental Expenditure Summary: At this point the City is two months or 16.66% 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 six departments whose expenditures are over 16.66%. 1. City Council -36.33%. The overage amounts to $15,871. This overage is due mostly to making the annual general liability insurance payment to TML at the start of the year saving 2% of the total premium.