09 - Monthly Financial Report - Laserfiche WebLink

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City of Paris May 2024 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 1.12% more than what was reported in 2023. Current tax collections this year are 96.62% of the tax levy vs. 96.74% last year. 2. Sales taxes are up 3.44% from last year ($240,087). 3. Hotel occupancy taxes are up 8.39% compared to last year ($54,160). 4. Franchise fees are down 5.31% compared to last year ($128,584). This is due to a significant decrease in the payment from Atmos. 5. Permit fees are up 92.96% from last year ($244,897). This increase is due to new commercial permits. 6. Municipal Court fines and related fees are down 14.51% compared to last year ($26,221). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 23.29% ($424,413). This is due to higher interest income and miscellaneous revenue. 8. Sanitation fees are up 1.93% ($2,769). 9. EMS fees are up 25.43% compared to last year ($586,556). 10. Lamar County EMS contributions are up 5.62% (15,964) compared to last year. 11. Total General Fund revenues are up 6.52% compared to last year ($1,504,820). General Fund revenues equal 83.00% of the budget with the City being 66.66% through the budget year. 12. Total General Fund expenditures are up 10.29% ($1,801,783) compared to last year. General Fund expenditures to date equal 62.16% of budget with the City being 66.66% through the budget year. 13. Sewer revenue was up 19.22% ($1,190,635). 14. Water revenue was down 0.61% ($34,824). 15. Other revenue sources are up 4.37% ($25,387). 16. Total Water & Sewer revenues, ignoring transfers and adjustments, are 9.48% above last year ($1,181,198) and represents 64.95% of the total budget. 17. Total Water & Sewer expenses are 11.24% above last year ($822,774) at this point and represent 38.79% of the total budget (57.75% adjusted for debt payments.) while the City is 66.66% 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. 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.