08 - October Financial Report - Laserfiche WebLink

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City of Paris October 2023 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 26.91% less than what was reported in 2022. This large percentage difference is due to tax bills not going out until November. A constitutional amendment election delayed the mailing of the tax bills. Current collections for October 2023 were reported as $0.00 versus $23,950. Current tax collections this year are 0.00% of the tax levy vs. .29% last year. 2. Sales taxes are up 11.52% from last year ($94,506). 3. Hotel occupancy taxes are up 54.02% compared to last year ($114,960). 4. Franchise fees are up 79.98% compared to last year ($91,751). This is a timing issue with Suddenlink. In the current year their quarterly payment was made in October while last year it was made in November. Solid Waste street use fees because two monthly payments were made in October for fees due in the previous year. 5. Permit fees are down 78.11% from last year ($80,904). This decrease is primarily because fewer new commercial permits were issued. 6. Municipal Court fines and related fees are down 4.84% compared to last year ($846). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 225% ($164,563). This is due to higher interest income and miscellaneous revenue. 8. Sanitation fees are down when compared to 2022 ($12,879). 9. EMS fees are down 64.26% compared to last year ($190,868). This topic has been discussed with Emergicon and Emergicon admits that there have been processing issues on their end. This has been corrected according to them and our collections should catch up with our billing. 10. Total General Fund revenues are up 9.77% compared to last year. General Fund revenues equal 6.68% of the budget with the City being 8.33% through the budget year. 11. Total General Fund expenditures are down 19.56% ($306,503) compared to last year. General Fund expenditures to date equal 4.05% of budget with the City being 8.33% through the budget year. 12. Sewer revenue was down 14.07% ($106,453). This decrease was caused by the 4" billing cycle not being billed until November. 13. Water revenue was down 20.77% ($183,861). This decrease was caused by the 4th billing cycle not being billed until November. 14. Other revenue sources are down 1.76% ($1,051). 15. Total Water & Sewer revenues, ignoring transfers and adjustments, are 17.13% below last year and represents 6.71% of the total budget. 16. Total Water & Sewer expenses are 10.01% above last year at this point and represent 3.00% of the total budget (No debt payments to date.) while the City is 8.33% through the budget year,