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City of Paris February 2008 Financial Report Comments Net to Date Comparison: 1. Sales taxes are down 6.3% after an especially weak November collection. 2. Franchise fees are down 37.7% because a quarterly payment from TXU Energy was received in February 2007 while it was not received this year until March 2008. 3. Permits are down at this point due to the unusually large permit issued to Kimberly Clark last year that amounted to over $45,000 in permit fees. 4. Court fines are up over 10.30% continuing the pattern of increase established last fiscal year. 5. The "Leases" category is down from last year because it includes General Fund interest. The timing of cash flows from General Fund investments is different than it was the previous year. 6. EMS fees are up 14.5% as the number of runs continues to rise. 7. Sewer revenue is down 4.46% due to an overall decrease in the residential winter average. Water revenue is up 5.24%. 8. Water & Sewer "Miscellaneous" is up due to the increased service fees adopted as part of the 2007 rate study. 9. Interest earned in the Water & Sewer Fund is down due to lower interest rates and the timing of investment maturities. 10. The $40,000 fee for exclusive negotiations with the City of Irving was received in February. Deparhnental Expenditure Summary: At this point the City is 5 months or .4166% through the budget. It is important to remember that expenditures do not occur equally through 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. There are five departments whose expenditures are over 41.66%. 1. Municipal Court-42.69%. The overage amounts to $2,237 and is primarily composed of the one-time payment of longevity and overtime. 2. Accounting-41.93%. The overage amounts to $3,444 and consists of the one-time purchase of minor apparatus, office supplies, and lease payments. 3. Police-44.49%. The overage amounts to $156,823 and consists of the one-time purchase of vehicles and minor apparatus, overtime, wearing apparel, gasoline, tires, pound supplies, travel & training expenses, electricity, contract services, and leases. 4. Public Works-41.68%. The overage amounts to $31. No comment necessary. 5. Traffic & Lighting-44.74%. The overage amounts to $15,130 and consists mainly of the purchase of signals and markers. 6. General Expenses-42.21 The overage amounts to $5,768 and is primarily the purchase of minor apparatus. 7. Water Billing-45.95%. The overage amounts to $70,602 is comprised of administrative fees paid to the City's General Fund.