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07 - February Financial Report
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07 - February Financial Report
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City of Paris <br />February 2022 Financial Report Comments <br />Net to Date Comparison of Revenues: <br />The operations and maintenance property tax and related collections reported are 3.55% more <br />than what was reported in 2021. Current tax collections this year are 94.54% of the tax levy vs. <br />93.49% last year. <br />Sales taxes are down 0.14% from last year ($5,572). <br />3. Hotel occupancy taxes are up 12.16% compared to last year ($43,778). <br />4. Franchise fees are up 10.28% compared to last year ($120,864). <br />5. Permit fees are up 100.56% from last year ($68,059). Both new residential and new commercial <br />permits are up significantly. <br />6. Municipal Court fines and related fees are up 24.60% compared to last year ($19,029). <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 4.51% ($14,529). <br />8. Sanitation fees are flat when compared to 2021 collections being down only $152. <br />9. EMS fees are down 9.34% compared to last year ($122,229). <br />10. W&S Administration fees are up 24.48% over last year ($98,357). This is in accordance with the <br />2021-22 Budget. <br />11. Total General Fund revenues are 3.10% more than last year ($474,743). This mainly due to <br />property tax collections being ahead of last year. General Fund revenues equal 61.73% of the <br />budget with the City being 41.66% through the budget year. <br />12. Total General Fund expenditures look like they are up 32.90% ($3,153,878) 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 6.82% (653,878). <br />General Fund expenditures to date equal 49.15% of budget (39.50% when adjusted for the PEDC <br />loan.) The City is 41.66% through the budget year. <br />13. Sewer revenue is up 20.37% ($579,881). 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 4.00% ($137,533). <br />15. Other revenue sources are up 3.86%.($9,515). <br />16. Total Water & Sewer revenues, ignoring transfers and adjustments, are 11.14% above last year <br />and represents 43.67% of the total budget. <br />17. Total Water & Sewer expenses are 2.39% below last year at this point and represent 24.52% of <br />the total budget (41.49% adjusted for debt payments to date.) while the City is 41.66% through <br />the budget year. <br />Departmental Expenditure Summary: <br />At this point the City is five months or 41.66% through the budget year. It is important to remember that <br />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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