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City of Paris February 2011 Financial Report Comments Net to Date Comparison of Revenues: 1. Property tax collections are 4.85% less than this time last year. The collection percentage for the current year equals 93.74% of the tax roll compared to 94.80% last year. Some property tax collections paid in February were not allocated to the taxing entities until March. This sometimes happens sometimes in the heavy payment months. In March 2011, a total of $57,721 was deposited that were actually February payments. This would have dropped the 4.85% figure above to 3.89%. Several major accounts are currently delinquent. 2. Sales taxes are up 4.46% over last year. 3. Hotel occupancy taxes are down less than 1%. As of 3-12-2011, Ramada Inn is delinquent for the quarter ending 9-30-2010 and the quarter ending 12-31-2010. La Quinta owes $709.80 in interest from the 2"d quarter of 2010 plus they are delinquent for the 4th quarter of 2010. 4. Franchise fees are down 4.55% compared to last year. This is a payment timing difference from last year. I expect this to clear up in March. 5. Permit fees are up $11,601 or 44.37%. 6. Municipal Court fines are up 3.09%. 7. Interest & lease payments are down $6,646. It is normal for the flow of interest revenue to vary from year to year. 8. Sanitation fees are up 13.27%. This reflects the rate change approved by the Council last 1uly. 9. EMS fees are up 14.07%. 10. General Fund miscellaneous fees/revenues are unpredictable in nature and amount but do occur each year. Variances from one year to the next are not unusual. The primary difference to date is caused by a slightly smaller return of equity payment from the TML insurance pool this year and last year's reimbursement by TxDOT of some airport maintenance costs. 11. Total General Fund revenues are .47%% below last year. General Fund revenues to date are 56.79% of the budget while the City is 41.66% through the budget year. 12. Total General Fund expenditures are down 1.93% compared to last year after five months. General Fund expenditures to date equal 38.65% of budget with the City being 41.66% through the budget year. 13. Sewer revenue is down 6.18% compared to last year due in part to reduced flow and load from Sara Lee. Water revenue is up 9.30% year to date as the City benefited from a dry summer which caused a longer watering season. Miscellaneous water and sewer revenues are up due to the $149,484 refund received from the US Corps of Engineers on Pat Mayse Lake. Total Water & Sewer revenues are 5.80% above last year and equal 42.75% of budget which is above the 41.66% budget to date percentage. Total Water & Sewer expenses are only.63% above last year at this point in time and represent 24.72% of the total budget (38.98% adjusted for debt payments) while the City is 41.66% through the budget year. 13