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City of Paris April 2024 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 1.11% more than what was reported in 2023. Current tax collections this year are 95.98% of the tax levy vs. 96.13% last year. 2. Sales taxes are up 3.38% from last year ($203,752). 3. Hotel occupancy taxes are up 11.08% compared to last year ($78,302). 4. Franchise fees are down 6.88% compared to last year ($141,698). This is due to a significant decrease in the payment from Atmos. 5. Permit fees are up 106.09% from last year ($248,255). This increase is due to new commercial permits. 6. Municipal Court fines and related fees are down 17.27% compared to last year ($28,537). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 16.36% ($245,407). This is due to higher interest income and miscellaneous revenue. 8. Sanitation fees appear to be up 52.13%, however, there is a pending transfer to the Sanitation Fund that will drop that percentage to 15.61%. 9. EMS fees are up 18.32% compared to last year ($376,081). 10. Lamar County EMS contributions are up 5.76% (14,297) compared to last year. 11. Total General Fund revenues are up 5.45% compared to last year ($1,150,282). General Fund revenues equal 75.06% of the budget with the City being 58.33% through the budget year. 12. Total General Fund expenditures are up 8.02% ($1,210,938) compared to last year. General Fund expenditures to date equal 52.46% of budget with the City being 58.33% through the budget year. 13. Sewer revenue was up 19.73% ($1,062,460). 14. Water revenue was up 0.27% ($13,869). 15. Other revenue sources are up 47.67% ($200,401). This is primarily due to charging off Rt. 40 accounts last year that were beyond statutory limitations for debt collections. 16. Total Water & Sewer revenues, ignoring transfers and adjustments, are 11.77% above last year ($1,276,731) and represents 57.74% of the total budget. 17. Total Water & Sewer expenses are 11.05% above last year ($708,729) at this point and represent 33.91% of the total budget (52.87% adjusted for debt payments.) while the City is 58.33% through the budget year. 18. The Airport Fund is currently operating at a deficit, but summer months bring increased fuel sales which should narrow the difference between revenue and expense. Also, in May ARPA Fund support of $72,600 will be reflected. This support covers the additional matching cost of the Runway Project. 19. The Sanitation Fund shows in this report to be operating at a deficit, but this is a timing issue. There is a pending revenue transfer from the Water Billing Office which collects the sanitation fees to the Sanitation Fund which will eliminate the deficit shown in this report.