07 - July monthly financial report

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City of Paris July 2020 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 2.44% less than this time last year ($183,830). 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 96.82% of the tax levy vs. 97.71% last year. 2. Sales taxes are up 4.98% from last year ($301,671). 3. Hotel occupancy taxes are up 6.70% compared to last year. 4. Franchise fees are down 1.35% compared to last year ($36,748). 5. Permit fees are down 21.46% from last year. This amounts to $55,563. May 2019 had unusually large dollar permits issued. 6. Municipal Court fines and related fees are 22.93% ($59,527 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 16.53% ($105,656) caused by HHS Stimulus payment, increased T -Mobile lease payments, hanger rentals, event center lease, fuel flowage fees, and credit card fees. 8. Sanitation fees are down 11.38% compared to 2019 collections. This is only $31,474 and was expected with more of these fees going directly to the Sanitation Fund in this budget. 9. EMS fees are up 2.84% compared to last year. 10. Total General Fund revenues are 0.72% more than last year. General Fund revenues equal 92.29% of the budget with the City being 83.33% through the budget year. 11. Total General Fund expenditures are up 2.85% ($527,846) compared to last year. General Fund expenditures to date equal 80.53% of budget with the City being 83.33% through the budget year. 12. Sewer revenue is up 7.82% ($379,904). 13. Water revenue is up 4.26% ($260,302). 14. Other revenue sources are down 23.74% ($114,293). This decrease caused by increased charge offs, lower interest rates, suspension of credit card fees, and lower industrial surcharges. 15. Total Water & Sewer revenues, ignoring transfers and adjustments, are 4.59% above last year and represents 58.62% of the total budget. 16. Total Water & Sewer expenses are 3.41% below last year at this point and represent 53.32% of the total budget (78.75% adjusted for debt payments)while the City is 83.33% through the budget year.