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City of Paris December 2023 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 12.60% less than what was reported in 2022. This 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 31.01% of the tax levy vs. 36.10% last year. 2. Sales taxes are up 2.53% from last year ($65,776). 3. Hotel occupancy taxes are up 19.19% compared to last year (43,251). 4. Franchise fees are down 9.86% compared to last year ($96,616). This is due to a significant decrease in the payment from Atmos. 5. Permit fees are up 134.73% from last year ($168,956). This increase is due to new commercial permits. 6. Municipal Court fines and related fees are down 34.75% compared to last year ($21,416). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 129.06% ($336,606). This is due to higher interest income and miscellaneous revenue. 8. Sanitation fees are down 12.74% when compared to 2022 ($7,436). 9. EMS fees are down 13.06% compared to last year ($111,778). 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 0.03% 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 28.63% of the budget with the City being 25.00% through the budget year. 11. Total General Fund expenditures are up 4.70% ($305,671) compared to last year. General Fund expenditures to date equal 21.91% of budget with the City being 25.00% through the budget year. 12. Sewer revenue was up 21.14% ($479,394.61). 13. Water revenue was down 3.17% ($74,883). 14. Other revenue sources are down 7.96% ($16,439). This is primarily due to charge offs incurred to date. 15. Total Water & Sewer revenues, ignoring transfers and adjustments, are 8.03% above last year ($388,070) and represents 24.85% of the total budget. 16. Total Water & Sewer expenses are 9.86% above last year ($257,556) at this point and represent 13.66% of the total budget (32.62% adjusted for debt payments.) while the City is 25.00% through the budget year.