07 - December monthly financial report

Home Browse Search

City of Paris December 2022 Financial Report Comments Net to Date Comparison of Revenues: The operations and maintenance property tax and related collections reported are 24.57% more than what was reported in 2021. Current tax collections this year are 36.10% of the tax levy vs. 29.13 % last year. We expect current collections to overtake last year's current collections in December. 2. Sales taxes are up 14.27% from last year ($324,529). 3. Hotel occupancy taxes are up 7.46% compared to last year ($15,655). 4. Franchise fees are up `10.87% compared to last year ($96,085). 5. Permit fees are up 44.15% from last year ($38,410). This increase is primarily from new commercial permits. 6. Municipal Court fines and related fees are up compared to last year increasing 16.85% ($8,890). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 74.09% ($111,005). The bulk of this increase comes from increased interest earnings. 8. Sanitation fees are down by 20.12% when compared to 2021 collections ($14,698). This decrease was planned in the current budget. More fees are going to the Sanitation Fund. 9. EMS fees are up 13.09% compared to last year ($99,069). 10. W&S Administration fees are flat compared to last year. This is in accordance with the 2022-23 Budget. 11. Total General Fund revenues are up 17.67% compared to last year. Sales taxes, property taxes, interest earned, and EMS fees account for most of the increase. General Fund revenues equal 31.12% of the budget with the City being 25.00% through the budget year. 12. Total General Fund expenditures are up 5.00% ($318,304) compared to last year. General Fund expenditures to date equal 24.18% of budget with the City being 25.00% through the budget year. 13. Sewer revenue is up 9.70% ($200,595). 14. Water revenue is up 6.10% ($135,492). 15. Other revenue sources are up 35.87% ($54,536). 16. Total Water & Sewer revenues, ignoring transfers and adjustments, are 8.80% above last year and represents 26.42% of the total budget with the City being 25.00% through the budget. 17. Total Water & Sewer expenses are 8.84% above last year at this point and represent 14.54% of the total budget (37.24% adjusted for debt payments.) while 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 eight departments whose expenditures are over 25.00%.