08-26-2024 Agenda Packet - Laserfiche WebLink

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City of Paris June 2024 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 0.93% more than what was reported in 2023. Current tax collections this year are 97.05% of the tax levy vs. 97.21% last year. 2. Sales taxes are up 4.24% from last year ($328,946). 3. Hotel occupancy taxes are up 5.94% compared to last year ($39,260). 4. Franchise fees are down 6.06% compared to last year ($128,584). This is due to a significant decrease in the payment from Atmos. 5. Permit fees are up 95.99% from last year ($254,853). This increase is due to new commercial permits. 6. Municipal Court fines and related fees are down 12.02% compared to last year ($23,237). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 23.20% ($490,794). This is due to higher interest income and miscellaneous revenue. 8. Sanitation fees are down 0.55% ($885). 9. EMS fees are up 24.14% compared to last year ($626,391). 10. Lamar County EMS contributions are up 6.20% (19,794) compared to last year. 11. Total General Fund revenues are up 6.55% compared to last year ($1,638,426). General Fund revenues equal 89.98% of the budget with the City being 75.00% through the budget year. 12. Total General Fund expenditures are up 2.91% ($583,078) compared to last year. General Fund expenditures to date equal 66.26% of budget with the City being 75.00% through the budget year.. 13. Sewer revenue was up 13.67% ($975,680). 14. Water revenue was down 3.20% ($206,763). 15. Other revenue sources are up 7.20% ($41,952). 16. Total Water & Sewer revenues, ignoring transfers and adjustments, are 5.72% above last year ($810,869) and represents 71.32% of the total budget. 17. Total Water & Sewer expenses are 21.16% above last year ($1,548,893) at this point and represent 42.25% of the total budget (73.91% adjusted for debt payments.) while the City is 75.00% through the budget year. 18. The Airport Fund has overcome the deficit reported last month with summer activity boosting revenue as expected. 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.