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City of Paris September 2020 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 2.69% less than this time last year ($203,926). This decrease is due to lower current and delinquent tax collections plus the lower penalty & interest collected on the delinquent taxes. Current tax collections are 96.95% of the tax levy vs. 98.15% last year. 2. Sales taxes are up 7.30% from last year ($536,007). 3. Hotel occupancy taxes are up 4.79% compared to last year. 4. Franchise fees are down 0.25% compared to last year. 5. Permit fees are down 9.12% from last year. This amounts to $25,320. May 2019 had unusually large dollar permits issued. 6. Municipal Court fines and related fees are 23.02% ($70,264 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 0.86%. 8. Sanitation fees are down 11.39% compared to 2019 collections. This is only $37,809 and was expected with more of these fees going directly to the Sanitation Fund in this budget. 9. EMS fees are up 6.50% (193,788) compared to last year. 10. Total General Fund revenues are 1.72% more than last year. General Fund revenues equal 105.35% of the budget with the City being 100.00% through the budget year. 11. Total General Fund expenditures are up 0.67% ($159,811) compared to last year. General Fund expenditures to date equal 100.50% of budget with the City being 100.00% through the budget year. 12. Sewer revenue is up 7.16% ($429,136). 13. Water revenue is up 4.69% ($363,597). 14. Other revenue sources are down 29.16% ($168,223). This decrease caused by increased charge offs, lower interest rates, suspension of credit card fees, and lower industrial surcharges. 15. On the Water & Sewer summary the prior year total expenditure number is inflated by the fixed asset depreciation number. The current year expenditures do not include fixed asset depreciation as that amount has not been calculated at this point. For commentary purposes on this report, I have backed out the prior year depreciation amount so that the two years can be properly compared. Total Water & Sewer revenues, ignoring transfers and adjustments, are 4.36% above last year and represents 97.89% of the total budget (98.58% of budget when adjusted for charge offs). Charge offs this year were 211% of the budgeted amount. This spike was caused by the "no turnoff' directive issued because of Covid-19. 16. Total Water & Sewer expenses are 4.01% below last year and represent 68.34% of the total budget (93.77% adjusted for debt payments) while the City is 100.00% through the budget year.