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City of Paris <br />October 2009 Financial Report Comments <br />Net to Date Comparison of Revenues: <br />1. No property tax collection comparison can be done for October because there were no <br />property tax collections in October 2008 until near the end of the month due to a computer <br />problem. The few tax payments received in October 2008 were not allocated to the taxing <br />entities until November 2008. <br />2. Sales tax collections for October are 2.69% or $11,969 above last year's collections for this <br />month. Sales tax remittances to the City from the State reflect sales from two months earlier. <br />3. Hotel occupancy taxes are 6.91°Ya or $8,913 below this same time last year. All of the larger <br />hotel payments were lower than the previous year. All hotel taxes are current as of this date. <br />4. Franchise taxes are up 16.34% or $8,975 over last October. <br />5. Permit fees are up 112.76% or $1,739. <br />6. Municipal Court fines are down 10.78% or $3,454. <br />7. Hanger lease payments and interest earnings are up 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 are $632 below last year. <br />9. EMS fees were down $59,523 from last year. This is primarily due to reduced cal) volume. <br />10. Miscellaneous collections are up and this is primarily due to the TXDOT reimbursement of <br />routine airport maintenance completed at Cox Field. Under GAAP if this reimbursement is <br />received in the same fiscal year as the expenditure it would be credited against the expense <br />account it was paid from. If the reimbursement takes place in the following year as happened <br />in this case, it must be reported as miscellaneous revenue and not a reduction of expenses. <br />11. Total General Fund revenues are 10.419'o above last year's receipts at this time. General Fund <br />revenues to date equal 5.849'0 of the budget while the City is 8.339'o through the budget year. <br />This percentage will take a dramatic swing in a positive direction as property tax collections <br />pick up in December. <br />12. Total General Fund expenditures are 10.469'o more than last year for this month. General Fund <br />expenditures to date equal 7.63% of budget while the City is 8.33% through the budget year. <br />13. Water revenue is down 8.819'o reflecting the unusually large rainfall we have been experiencing <br />(15.92 inches in October 2009 vs. 4.37 inches in October 2008) while sewer revenue is up <br />5.00%. <br />14. Total Water & Sewer Water revenue is down 7.679'o from last year. This reflects the decreased <br />water sales and the completion of reimbursements from the City of Irving. Water & Sewer <br />revenues to date equal 8.169'0 of that budget. This percentage is slightly behind the budget to <br />date percentage of 8.339'0. <br />15. Total Water & Sewer expenses are 33.0396 lower than last October and amount to 3.6596 of the <br />current budget with debt payments added. Budget to date expenditures would be 8.33%. <br />~ - - 30 <br />