07 - December monthly financial report

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City of Paris December 2021 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 11.72% more than what was reported in 2020. Current tax collections this year are 29.13% of the tax levy vs. 26.65% last year. 2. Sales taxes are down 3.66% from last year ($86,531). 3. Hotel occupancy taxes are down 25.77% compared to last year ($72,829). 4. Franchise fees are up 6.88% compared to last year ($56,934). 5. Permit fees are up 89.97% from last year ($41,197). Both new residential and new commercial permits were up significantly. 6. Municipal Court fines and related fees are up 14.23% compared to last year ($6,572). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is down 11.39% ($18,860). 8. Sanitation fees are flat when compared to 2020 collections being down only $16. 9. EMS fees are down 5.23% compared to last year ($41,949). 10. W&S Administration fees are up 24.48% over last year. This is in accordance with the 2021-22 Budget. 11. Total General Fund revenues are 2.82% more than last year ($197,778). General Fund revenues equal 28.19% of the budget with the City being 25.00% through the budget year. 12. Total General Fund expenditures look like they are up 67.13% ($3,557,089) compared to last year. However, this expenditure number includes the $2,500,000 loan that the City gave to PEDC. If the loan is backed out of the expenditure totals, the increase would be 19.95% (1,057,094). General Fund expenditures to date equal 34.17% of budget (24.52% when adjusted for the PEDC loan.) The City is 25.00% through the budget year. 13. Sewer revenue is up 20.52% ($351,903). This reflects the gradually increasing rates that the City Council has approved to fund the new wastewater plant. 14. Water revenue is up 5.67% ($119,291). 15. Other revenue sources are down 4.64% ($7,402). 16. Total Water & Sewer revenues, ignoring transfers and adjustments, are 11.67% above last year and represents 15.58% of the total budget. 17. Total Water & Sewer expenses are 0.35% below last year at this point and represent 14.70% of the total budget (31.67% adjusted for debt payments to date.) while the City is 25.00% through the budget year.