08 Monitoring actual municipal revenues and expenditures verses the Council adopted budget

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City of Paris February 2009 Financial Report Comments Net to Date Comparison of Revenues: 1. Property tax collections are 1.4% less than this point last year. 2. Sales tax collections are 18.9% above last year's collections to date. Sales tax remittances to the City from the State reflect sales from two months earlier. So, February collections reflect December sales. 3. Hotel occupancy taxes stand 19.6% over this same time last year. All hotel taxes are current including La Quinta. 4. Franchise taxes are down 14.2% at this point because the quarterly payment from TXU has not been received. 5. Permit fees, while not a significant revenue source, are down 23.7%. 6. Municipal Court fines are down 6.3% after five months of activity. 7. Hanger lease payments and interest earnings are down compared to last year but this is due to the somewhat irregular timing of such payments. At times renters will get behind a month or two then catch up and sometimes they pay in advance knowing that they are going to be away for a while. Over the course of the year this works itself out but it can at give a distorted view of collections during the year. Likewise, interest revenue does not take place evenly throughout the year. 8. EMS fees are 2.2% behind last year. 9. Miscellaneous collections are down because last year's collections included revenue collected from the sale of the abandoned Southern Disposal dumpsters. 10. Water revenue is relatively flat compared to last year being up only 2.7%, but sewer revenue is up 11.4% reflecting the rate increase enacted by the Council. 11. In the Water & Sewer Fund, the receipts from the City of Irving represent reimbursements under the MOU agreement. 12. Water & Sewer interest revenue is down but that is mostly a reflection of changing investment maturity dates which affect the cash flow of interest payments. Changing interest rates also have some impact on this line item. 13. The Water & Sewer Miscellaneous line item is down due to increased charge offs. 14. General Fund revenues to date equal 59.22% of that budget even though we are only 41.66% through the budget year. This is due to the fact that the City has collected 94.74% of its current taxes. This represents the normal collection pattern. Taxes become delinquent and start incurring penalties as of February 15Yencouraging most people to pay prior to that date. Water & Sewer revenues to date equal 41.21% of that budget. 0() 001.'2