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City of Paris February 2020 Financial Report Comments Net to Date Comparison of Revenues 1. The operations and maintenance property tax and related collections are 1.47% less than this time last year. Current tax collections are 93.95% of the tax levy vs. 93.69% last year. 2. Sales taxes are up 5.35% compared to last year. 3. Hotel occupancy taxes are 32.96% more than last year. This increase reflects the 2% increase in the tax rate that went into effect 7-1-2019. 4. Franchise fees are up only 0.39% compared to last year. 5. Permit fees are up 46.84% from last year. This amounts to $30,007 and is due to new commercial construction. 6. Municipal Court fines and related fees are 15.25% ($21,025) 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 up 33.40% caused primarily by increased T -Mobil lease revenues, hanger rentals, fuel flowage fee, and credit card fees. 8. Sanitation fees are down 12.78% compared to 2019 collections. This is only $17,639 and was expected with more of these fees going directly into the Sanitation Fund in this budget. 9. EMS fees are up 9.47% compared to last year. 10. Total General Fund revenues are 2.66% more than last year. General Fund revenues equal 60.72% of the budget with the City being 41.66% through the budget year. 11. Total General Fund expenditures are up 8.27% compared to last year. General Fund expenditures to date equal 41.48% of the budget with the City being 41.66% through the budget year. 12. Sewer revenue is up 6.98%. 13. Water revenue is up 1.36%. 14. Total Water & Sewer revenues, ignoring transfers and adjustments, are up 3.41%. 15. Total Water & Sewer expenses are down 3.41% and represent 25.30% of the total budget (39.02% adjusted for debt payments) while the City is 41.66% through the budget year, Departmental Expenditure Summary: At this point the City is 5 months or 41.66%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 11 departments whose expenditures are over 41.66%.