07 - March monthly financial report

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City of Paris March 2020 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 2.21% less than this time last year ($160,822). This decrease is due to lower current and delinquent tax collections to date plus the lower penalty & interest collected on the delinquent taxes. Current tax collections are 94.91% of the tax levy vs. 94.95% last year. 2. Sales taxes are up 5.02% from last year. There is a two month lag time between actual sales and city receipt of those sales taxes. So March's collection comes from January sales. There has been an increase every month in sales taxes for this fiscal year through March. April collections (February sales) is down $5,083 (0.93%) compared to the same month last year. 3. Hotel occupancy taxes are down 0.93% compared to last year. 4. Franchise fees are down 6.26% compared to last year ($107,443). Atmos, Oncor, and Suddenlink fees are all less than last year. 5. Permit fees are up 78.08% from last year. This amounts to $56,891. Both new commercial and new residential permits are up significantly. 6. Municipal Court fines and related fees are 20.83% ($35,514) 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 29.04% ($89,533) caused by increased T -Mobile lease payments, hanger rentals, event center lease, fuel flowage fees, and credit card fees. 8. Sanitation fees are down 12.80% compared to 2019 collections. This is only $21,178 and was expected with more of these fees going directly to the Sanitation Fund in this budget. 9. EMS fees are up 6.83% compared to last year. 10. Total General Fund revenues are 0.68 % more than last year. General Fund revenues equal 66.81% of the budget with the City being 50.00% through the budget year. 11. Total General Fund expenditures are up 4.01% ($449,481) compared to last year. General Fund expenditures to date equal 49.33% of budget with the City being 50.00% through the budget year. 12. Sewer revenue is up 7.73% ($228,002). 13. Water revenue is up 1.91% ($69,708). 14. Total Water & Sewer revenues, ignoring transfers and adjustments, are 4.13% above last year. 15. Total Water & Sewer expenses are 3.00% below last year at this point and represent 31.25% of the total budget (44.98% adjusted for debt payments)while the City is 50.00% through the budget year.