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City of Paris November 2024 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections reported are 53.79% more than what was reported in 2023. This large difference is a timing issue between when the Lamar County Appraisal District collects taxes and when they distribute those collections to the entities. Current tax collections this year are 7.26% of the tax levy vs. 4.45% last year. 2. Sales taxes are up 0.44% from last year ($8,172). 3. Hotel occupancy taxes are up 5.04% compared to last year ($17,214). 4. Franchise fees are up 2.21% compared to last year ($8,217). 5. Permit fees are down 76.65% from last year ($210,740). Building permit fees for new construction were unusually high last year. 6. Municipal Court fines and related fees are up 11.48% compared to last year ($3,246). 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 21.24% ($55,238). 8. Sanitation fees were collected in October and November but were not transferred to the General Fund until we finished closing out the Sanitation Fund. 9. EMS fees are up 272.38% compared to last year ($711,929). Our 3rd party collection agency had issues in the first quarter of last year. Collections were well below what they should have been. The company addressed the issue and collections picked up. 10. Lamar County EMS contributions are up 4.90% ($3,641) compared to last year. 11. Interest revenues are down 85.41% ($205,216). Interest rates have dropped somewhat from their peak, but the timing of interest payments and principal paydown also impacts this revenue. 12. W&S Admin Fees are up 8.33% ($16,666). This increase was expected and allowed for in the budget. 13. Other revenue sources were up 70.29% ($119,971). 14. Total General Fund revenues are up 15.80% compared to last year ($674,916). This is due to the slow reporting of property tax revenues last year. General Fund revenues equal 14.55% of the budget with the City being 16.66% through the budget year. 15. Total General Fund expenditures are up 46.55% ($1,747,259.33) compared to last year. General Fund expenditures to date equal 15.34% of budget with the City being 16.66% through the budget year. 16. Sewer revenue was down 11.71% ($219,552). This drop was caused by billing for only three of the four billing cycles in the month. 17. Water revenue was down 8.65% (140,993). 18. Other revenue sources are up 218.82% ($249,272.56). This was caused by the delay in dispersing Sanitation fees to the General Fund. 19. Total Water & Sewer revenues, ignoring transfers and adjustments, are 3.07% below last year ($111,273) and represent 15.80% of the total budget. 20. Total Water & Sewer expenses are 16.67% above last year ($302,141) at this point and represent 9.57% of the total budget (9.57% adjusted for debt payments.) while the City is 16.66% through the budget year.