07 - May monthly financial report

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City of Paris May 2021 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 8.38% more than this time last year ($605,015). Collections on the current tax levy are at 96.12% vs. 96.03% last year. 2. Sales taxes are up 19.86% from last year ($1,012,928). This is due in part to $271,309 in collections derived from audit payments ($325,571 if you include PEDC share). Even without this windfall, collections would be up 14.54%. 3. Hotel occupancy taxes are up 25.10% compared to last year ($120,014). All hotels are current on their payments. 4. Franchise fees are down 2.72% compared to last year (57,404). 5. Permit fees are down 36.49% from last year ($57,510). 6. Municipal Court fines and related fees are down 1.23% ($2,040) 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 12.00% ($71,549). 8. Sanitation fees are down $983 or 0.50% when compared to last year's collections. 9. EMS fees are up 3.39% compared to last year ($70,903). 10. Total General Fund revenues are 8.63% more than last year ($1,619,372) and represent 83.66% of the budget. The City is 66.66% through the budget year. Total General Fund expenditures are down 1.48% ($224,574) compared to last year. General Fund expenditures to date equal 60.94% of budget with the City being 66.66% through the budget year, 11. Sewer revenue is up 11.02% ($459,691). 12. Water revenue is up 8.59% ($424,847). 13. Other revenue sources are up 51.40% ($159,967). 14. Total Water & Sewer revenues, ignoring transfers and adjustments, are 11.08% above last year and represents 68.55% of the total budget. 15. Total Water & Sewer expenses are 3.52% above last year at this point and represent 42.80% of the total budget (68.13% adjusted for debt payments.) The City is 66.66% through the budget year. Departmental Expenditure Summary: At this point the City is eight months or 66.66% 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 three departments whose expenditures are over 66.66%.