09 - November 2023 Financial Report

Home Browse Search

City of Paris November 2023 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 51.39% 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 tax collections this year are 4.45% of the tax levy vs. 10.41% last year. 2. Sales taxes are up 3.94% from last year ($69,683). 3. Hotel occupancy taxes are up 51.39% compared to last year ($115,827). 4. Franchise fees are down 16.68% compared to last year ($74,432). This is due to a significant decrease in the payment from Atmos. S. Permit fees are up 149.47% from last year ($164,724). This increase is due to new commercial permits. 6. Municipal Court fines and related fees are down 25.73% compared to last year ($9,794). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 175.49% ($261,765). This is due to higher interest income and miscellaneous revenue. 8. Sanitation fees are down 17.71% when compared to 2022 ($7,308). 9. EMS fees are down 42.62% compared to last year ($249,321). 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 down 4.51% compared to last year. This is due to the late sending of tax bills. The delay in sending was caused by a November election which approved increased property tax exemptions. General Fund revenues equal 14.41% of the budget with the City being 16.66% through the budget year. 11. Total General Fund expenditures are down 3.35% ($130,142) compared to last year. General Fund expenditures to date equal 12.08% of budget with the City being 16.66% through the budget year. 12. Sewer revenue was up 26.65% ($394,325). This increase was caused by the 4th billing cycle of October not being billed until November. 13. Water revenue was up 0.64% ($10,463). This increase was caused by the 4th billing cycle of October not being billed until November. 14. Other revenue sources are down 15.96% ($21,639). This is primarily due to charge offs incurred to date. 15. Total Water & Sewer revenues, ignoring transfers and adjustments, are 11.84% above last year ($383,149) and represents 17.23% of the total budget. 16. Total Water & Sewer expenses are 14.58% above last year ($230,658) at this point and represent 8.63% of the total budget (No debt payments to date.) while the City is 16.66% through the budget year.