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City of Paris January 2024 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 1.81% more than what was reported in 2023. Current tax collections this year are 86.04% of the tax levy vs. 84.51% last year. 2. Sales taxes are up 3.65% from last year ($125,143). 3. Hotel occupancy taxes are up 31.51% compared to last year (131,653). 4. Franchise fees are down 3.41% compared to last year ($37,239). This is due to a significant decrease in the payment from Atmos. 5. Permit fees are up 72.15% from last year ($128,430). This increase is due to new commercial permits. 6. Municipal Court fines and related fees are down 31.08% compared to last year ($26,589). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 44.81% ($217,281). This is due to higher interest income and miscellaneous revenue. 8. Sanitation fees are down 9.94% when compared to 2023 ($7,494). 9. EMS fees are up 6.91% compared to last year ($80,125). 10. Total General Fund revenues are up 5.24% compared to last year ($738,812). General Fund revenues equal 51.39% of the budget with the City being 33.33% through the budget year. 11. Total General Fund expenditures are up 1.92% ($170,474) compared to last year. General Fund expenditures to date equal 29.06% of budget with the City being 33.33% through the budget year. 12. Sewer revenue was up 19.74% ($600,887). 13. Water revenue was down 4.65% ($144,258). 14. Other revenue sources are up 75.32% ($117,833). This is primarily due to charging off Rt. 40 accounts last year that were beyond statutory limitations for debt collections. 15. Total Water & Sewer revenues, ignoring transfers and adjustments, are 9.12% above last year ($574,463) and represents 32.73% of the total budget. 16. Total Water & Sewer expenses are 8.10% above last year ($286,795) at this point and represent 18.22% of the total budget (37.18% adjusted for debt payments.) while the City is 33.33% through the budget year. Departmental Expenditure Summary: At this point the City is three months or 33.33% 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 were three departments whose expenditures were over 33.33%.