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09-Deliberate on September monthly financial report
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09-Deliberate on September monthly financial report
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8/22/2012 4:34:23 PM
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10/23/2009 1:29:48 PM
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CITY CLERK
Doc Name
09
Doc Type
Agenda
CITY CLERK - Date
10/26/2009
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City of Paris <br />September 2009 Financial Report Comments <br />Net to Date Comparison of Revenues: <br />1. Property tax collections ended the year slightly lower than the previous year. The collection <br />percentage for the current year tax levy was 98.08% versus the 98.20% collection rate of last <br />year's levy. <br />2. Sales tax collections for the year are 10.80% above last year's collections. It should be noted <br />that sales tax collections for July, August, and September 2009 were below those same months <br />in 2008 by 6.2% or $76,702 in total. This is a trend that will be monitored in the new budget <br />year. <br />3. Hotel occupancy taxes stand 24.93% over last year. All hotel taxes were current as of <br />September 30`h except for La Quinta which was delinquent for the second quarter of 2009. I am <br />happy to report that this hotel sold at the end of September and as part of the closing costs the <br />City received tax payments for the second and third quarters of 2009 (including penalties and <br />interest due) in early October. <br />4. Franchise taxes were .319'0 lower than last year which is an insignificant amount. <br />5. Permit fees were up 68.9% due to Paris High School's building permit fee of nearly $90,000. <br />6. Municipal Court fines were down 15.33% for the year. <br />7. Hanger lease payments and interest earnings are down compared to last year but this is due to <br />the somewhat irregular timing of such payments. At times renters will get behind a month or <br />two then catch up and sometimes they pay in advance knowing that they are going to be away <br />for a while. Over the course of the year this works itself out but it can at give a distorted view <br />of collections during the year. Likewise, interest revenue does not take place evenly throughout <br />the year. <br />8. Sanitation fees were 1.08% below last year. This is not a significant amount. <br />9. EMS fees ended .69% ahead of last year. This was a minor amount. <br />10. Miscellaneous collections are down because last year's collections included revenue collected <br />from the sale of the abandoned Southern Disposal dumpsters. <br />11. Total General Fund revenues ended at 1.33% above last year's receipts. General Fund revenues <br />for the year equaled 103.639'0 of budget. <br />12. Total General Fund expenditures ended at 3.20% more than last year. General Fund <br />expenditures for the year were 94.68% of the amended budget and 96.199'0 of the original <br />budget. <br />13. Water revenue is up 2.089'o while sewer revenue is up 9.89%. <br />14. In the Water & Sewer Fund, the receipts from the City of Irving represent reimbursements <br />under the MOU agreement. To date $146,674.06 has been billed to Irving and $146,674.06 has <br />been collected. <br />15. Water & Sewer interest revenue is down due to changing investment maturity dates which <br />affect the cash flow of interest payments plus lower interest rates have impact on this line <br />item. <br />16. The Water & Sewer Miscellaneous line item is down because charge offs from the previous <br />year were not made in a timely manner thus skewing the current year amount. Charge offs are <br />now being made in a timely fashion. There does appear to be some increase in delinquencies. <br />17. Total Water & Sewer Water revenue is up 3.419'0 over last year. Water & Sewer revenues for <br />the year equal 100.279'0 of that budget. <br />2 0 <br />
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