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City of Paris December 2020 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 5.55% more than this time last year ($114,176). Current tax collections this year are 26.65% of the tax levy vs. 27.41% last year. 2. Sales taxes are up 21.44% from last year ($416,810). This is due to $270,806 in collections derived from audit payments. Even without this wind fall, collections would be up 7.51%. 3. Hotel occupancy taxes are up 25.27% compared to last year ($56,994). 4. Franchise fees are down 2.74% compared to last year (23,371). This is due to Atmos paying late for FY 2019 which caused 5 quarterly payments in FY 2020. 5. Permit fees are down 2.84% from last year. 6. Municipal Court fines and related fees are down 19.70% ($11,329 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 down 16.20% ($32,017). 8. Sanitation fees are up $780 when compared to last year's collections. 9. EMS fees are down 1.25% compared to last year. 10. Total General Fund revenues are 7.85% more than last year ($510,482). The largest contributor to this increase was the sales tax windfall derived from state audits. 11. Total General Fund expenditures are down 4.86% ($270,671) compared to last year. General Fund expenditures to date equal 21.67% of budget with the City being 25.00% through the budget year. 12. Sewer revenue is up 5.78% ($93,767). 13. Water revenue is up 6.94% ($136,366). 14. Other revenue sources are up 15.70% ($21,643). 15. Total Water & Sewer revenues, ignoring transfers and adjustments, are 6.76% above last year and represents 26.02% of the total budget. 16. Total Water & Sewer expenses are 9.19% above last year at this point and represent 16.04% of the total budget (34.73% adjusted for debt payments.) 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 four departments whose expenditures are over 25.00%. City Council 25.29%. This amounts to $336 and is an immaterial amount. EMS 30.22%. This amounts to $159,030 and is due to the purchase of a new ambulance.