07 - December financial report - Laserfiche WebLink

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City of Paris December 2019 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 19.10% less than this time last year ($40,022). This is due to lower delinquent tax collections. Current tax collections are 27.41% of the tax levy vs. 26.84% last year. 2. Sales taxes are up 5.18% 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. The 2% increase will be transferred to an I&5 Fund to pay for the 2020 Certificates of Obligation issued to renovate the civic center. This will normalize the year to year comparison of hotel tax revenues. 4. Franchise fees are down 6.02% compared to last year ($54,496). Atmos, Oncor, and Suddenlink fees are down as are the bingo fees and the street use fees. 5. Permit fees are up 16.63% from last year. This amounts to only $6,721. 6. Municipal Court fines and related fees are 11.44% ($7,429) 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 10.70% caused by lease payments and a reimbursement for previous year's grant. 8. Sanitation fees are down 12.82% compared to 2019 collections. This is only $10,628 and was expected with more of these fees going directly to the Sanitation Fund in this budget. 9. EMS fees are up 7.39% compared to last year. 10. Total General Fund revenues are 1.59 % more than last year. General Fund revenues equal 27.45% of the budget with the City being 25.00% through the budget year. 11. Total General Fund expenditures are up 3.55% ($191,174) compared to last year. General Fund expenditures to date equal 23.58% of budget with the City being 25.00% through the budget year. 12. Sewer revenue is up 4.61% ($71,467). 13. Water revenue is up 0.46% ($9,033). 14. Total Water & Sewer revenues, ignoring transfers and adjustments, are 1.91% above last year. 15. Total Water & Sewer expenses are 14.39% below last year at this point and represent 14.84% of the total budget (28.56% adjusted for debt payments)while the City is 25.00% through the budget year. Departmental Expenditure Summary: At this point the City is three months or 25.00% 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 eight departments whose expenditures are over 25.00%.