07-Deliberate on August monthlyu financial report

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City of Paris August 2010 Financial Report Comments Net to Date Comparison of Revenues: 1. Overall tax collections (current taxes, delinquent taxes, penalties & interest, plus attorney fees) are 0.84% less than last year's collections. Current property tax collections (0&M share) are down .89% or $55,894 compared to this time last year but this amount is less than the expected drop which was caused by the senior tax freeze shifting more of the tax rate to the debt portion of the rate and less to the 0&M portion of the rate. As a percentage of the tax roll levied, we are at 97.73% collection vs. 98.02% last year. 2. 5ales tax collections are 8.63% below last year's collections through this month which is .23% behind the current budget. 3. Hotel occupancy taxes are 5.42% below this same time last year. At the end of August, all hotels were current on their payments except for La Quinta. 4. Franchise taxes are down 4.53% primarily due to lower quarterly remittances from Atmos Energy. Information provided by Atmos indicates that the drop is due to a combination of much lower natural gas prices and slightly lower sales volume. TXU Energy payments are also lower this year. This has been partially offset by increased payment from Suddenlink. 5. Permit fees are down $77,876 compared to last year. This is due to the large permit issued to PISD last year. 6. Municipal Court fines and related fees are down 9.29%. 7. Hanger lease payments and interest earnings are down $78,324 compared to last year but this is due to the somewhat irregular timing of these 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. Interest revenues are down this year due to low rates and a smaller fund balance. 8. EMS fees are down 2.63% from last year. 9. Miscellaneous collections are up 28.28% and this is primarily due to the TML equity return to the City related to general liability and worker's compensation insurance. Because it is a non-profit insurance pool, TML periodically refunds member cities any excess reserves built up over time. The City also received a$38,803 refund from CAPP brought about by reduced ancillary service charges set by ERCOT. In addition there was a TXDOT reimbursement of routine airport maintenance at Cox Field. 10. Total General Fund revenues are 4.18% below last year's receipts at this time due to the lower gas and electric franchise payments plus lower sales tax receipts. General Fund revenues to date equal 92.41% of the budget while the City is 91.66% through the budget year. 11. Total General Fund expenditures are .32% less than last year through this month. General Fund expenditures to date equal 87.64% of budget while the City is 91.66% through the budget year. 12. Water revenue is down 1.71% while sewer revenue is down 2.89%. Miscellaneous revenues appear to be up only because they have not been offset by any major charge offs. 13. Total Water & Sewer Water revenue is down 2.09% from last year. This reflects decreased water sales and the completion of reimbursements from the City of Irving last year. Water & Sewer revenues to date equal 88.96% of that budget. This percentage is behind the budget to date percentage of 91.66%. 14. Total non-debt Water & Sewer expenses are 7.39% lower than this point last year and amount to 79.16% of the current budget not including the debt appropriations of $3,954,125 and debt - 22