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<br /> <br /> <br /> <br /> <br /> City of Paris <br /> <br /> November 2010 Financial Report Comments <br /> <br /> Net to Date Comparison of Revenues: <br /> <br /> 1. Property tax collections are virtually the same as this point last year being only 0.5% behind <br /> November 2009. <br /> 2. Sales taxes are up a modest 1.86% ($18,937) over last year. <br /> 3. Hotel occupancy taxes are down 18.41%. La Quinta and Ramada Inn were both delinquent in <br /> taxes for the quarter ending September 30, 2010 as of November 30th. La Quinta paid their <br /> delinquent tax and penalty in December, but they still owe the related interest charge. As of <br /> 12-17-2010, Ramada Inn was still delinquent for the quarter ending 9-30-2010. <br /> 4. Franchise fees are down 65.33% due to payment timing differences. In this case, the difference <br /> is connected to TXU Energy who made their payment in December this year versus November <br /> last year. <br /> 5. The decrease in interest and lease revenue is on the interest side. It is normal for the flow of <br /> interest revenue to vary from year to year. <br /> <br /> 6. Regarding the Fire Department related revenue, the County discontinued their $150 monthly <br /> ($1800 annually) support payments last year after making a single payment. The County had <br /> made such payments to the City for fire protection services provided to County residents living <br /> inside the City limits. They make similar payments to rural fire departments. These payments <br /> have been made for well over 30 years. The only explanation given for stopping the payments <br /> was that there was no legal requirement to make them. <br /> 7. Sanitation fees are up 12.85%. This reflects the rate change approved by the Council last July. <br /> 8. EMS fees are up 6.29%. <br /> 9. General Fund miscellaneous fees/revenues are unpredictable in nature and amount but do <br /> <br /> occur each year. Variances from one year to the next are not unusual. The primary difference to <br /> date is caused by the fact that in October 2009 the City received reimbursement from the State <br /> for repairs made at the airport. Those repairs had been made in a previous fiscal year. <br /> 10. Total General Fund revenues are 11.96% below last year due to the TXU Energy franchise <br /> payment being received in December instead of November. General Fund revenues to date are <br /> 13.54% of the budget while the City is 16.66% through the budget year. <br /> 11. Total General Fund expenditures are 5.89% less than last year after two months. General Fund <br /> expenditures to date equal 14.98% of budget with the City being 16.66% through the budget <br /> year. <br /> 12. Sewer revenue is down 6.10% compared to last year due in part to reduced flow and load from <br /> <br /> Sara Lee. Water revenue is up 17.50% year to date as the City benefited from a dry summer <br /> which caused a longer watering season. Miscellaneous water and sewer revenues are up due to <br /> the $149,484 refund received from the US Corps of Engineers on Pat Mayse Lake. Total Water & <br /> Sewer revenues are 14.4% above last year and equal 18.79% of budget which is above the <br /> 16.66% budget to date percentage. Total Water & Sewer expenses are 9.60% below last year at <br /> this point in time. <br /> <br /> <br /> <br /> <br /> <br /> 21 <br />