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City of Paris August 2023 Financial Report Comments Net to Date Comparison of Revenues: I. The operations and maintenance property tax and related collections reported are 0.65% less than what was reported in 2022. Current tax collections this year are 97.73% of the tax levy vs. 97.83% last year. 2. Sales taxes are up 10.89% from last year ($940,208). 3. Hotel occupancy taxes are up 12.12% compared to last year ($101,417). 4. Franchise fees are up 3.81% compared to last year ($118,318). This increase is due to a larger Atmos Gas payment. 5. Permit fees are down 3.21% from last year ($9,043). 6. Municipal Court fines and related fees are up compared to last year increasing 2.22% ($4,774). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 66.29% ($630,676). The bulk of this increase comes from increased interest earnings plus fire deployment reimbursements. 8. Sanitation fees are down by 27.44% when compared to 2022 collections ($73,373). This decrease was planned in the current budget. More fees are going to the Sanitation Fund. 9. EMS fees are up 7.13% compared to last year ($224,485). 10. Total General Fund revenues are up 7.33% compared to last year. Sales taxes, property taxes, interest earned, and EMS fees account for most of the increase. General Fund revenues equal 105.13% of the budget with the City being 91.66% through the budget year. 11. Total General Fund expenditures are down 3.46% ($882,665) compared to last year. General Fund expenditures to date equal 89.16% of budget with the City being 91.66% through the budget year. 12. Sewer revenue is up 16.18% ($1,262,037). 13. Water revenue is up .0955% ($7,801). 14. Other revenue sources are up 50.61% ($272,871). Interest being the major increase. 15. Total Water & Sewer revenues, ignoring transfers and adjustments, are 9.34% above last year and represents 98.73% of the total budget with the City being 91.66% through the budget year. 16. Total Water & Sewer expenses are 8.44% above last year at this point and represent 55.92% of the total budget (90.36% adjusted for debt payments.) while the City is 91.66% through the budget year. Departmental Expenditure Summary: At this point the City is eleven months or 91.66% 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, Airport, and Sanitation Funds there are twelve departments whose expenditures are over 91.66%. 1. City Council -126.53%. The overage amounts to $48,434 and was primarily due to the settlement payment made in regards to a legal issue.