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07 - January Financial Report
City-of-Paris
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02-28-2022
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07 - January Financial Report
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CITY CLERK
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City of Paris <br />January 2022 Financial Report Comments <br />Net to Date Comparison of Revenues: <br />1. The operations and maintenance property tax and related collections reported are 22.89% more <br />than what was reported in 2021. Current tax collections this year are 83.67% of the tax levy vs. <br />78.99% last year. <br />2. Sales taxes are down 0.09% from last year ($2,901). <br />3. Hotel occupancy taxes are up 31.28% compared to last year ($112,594). <br />4. Franchise fees are up 8.82% compared to last year ($81,865). <br />5. Permit fees are up 85.21% from last year ($49,009). Both new residential and new commercial <br />permits are up significantly. <br />6. Municipal Court fines and related fees are up 6.47% compared to last year ($4,256). <br />7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed <br />beverage tax, and other minor revenues. This revenue is down 37.63% ($108,466). <br />8. Sanitation fees are flat when compared to 2021 collections being down only $137. <br />9. EMS fees are down 9.55% compared to last year ($102,329). <br />10. W&S Administration fees are up 24.48% over last year ($78,685). This is in accordance with the <br />2021-22 Budget. <br />11. Total General Fund revenues are 11.81% more than last year ($1,398,448). This mainly due to <br />property tax collections being ahead of last year. General Fund revenues equal 51.74% of the <br />budget with the City being 33.33% through the budget year. <br />12. Total General Fund expenditures look like they are up 39.29% ($3,081,547) compared to last <br />year. However, this expenditure number includes the $2,500,000 loan that the City gave to <br />PEDC. If the loan is backed out of the expenditure totals, the increase would be 7.41% (581,547). <br />General Fund expenditures to date equal 42.15% of budget (32.50% when adjusted for the PEDC <br />loan.) The City is 33.33% through the budget year. <br />13. Sewer revenue is up 21.59% ($490,313). This reflects the gradually increasing rates that the City <br />Council has approved to fund the new wastewater plant. <br />14. Water revenue is up 5.38% ($148,693). <br />15. Other revenue sources are down 3.52% ($7,356). <br />16. Total Water & Sewer revenues, ignoring transfers and adjustments, are 12.05% above last year <br />and represents 35.37% of the total. budget. <br />17. Total Water & Sewer expenses are 1.42% below last year at this point and represent 20.09% of <br />the total budget (37.06% adjusted for debt payments to date.) while the City is 33.33% through <br />the budget year. <br />Departmental Expenditure Summary: <br />At this point the City is four months or 33.33% through the budget year. It is important to remember <br />that expenditures do not occur equally throughout the year. For example, capital expenditures and <br />association memberships are one time expenditures that if made early in the fiscal year can produce a <br />
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