07-JULY MONTHLY FINANCIAL REPORT

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City of Paris July 2011 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 4.55% less than this time last year. The primary cause of the collection difference is the drop in the O&M portion of the tax rate and the corresponding increase in the debt portion of the tax rate to cover the 2010 series bonds issued to pay for Collegiate Drive. The new debt issue was absorbed in the existing 52 cent tax rate. Collections for the current year equal 97.43% of the tax roll which compares to the 97.55%a collection percentage at this same point last year. 2. Sales taxes are up 3.91% over last year. 3. Hotel occupancy taxes are down 7.11% from last year. As of 8-15-2011, La Quinta is delinquent for the 15i quarter of 2011 but paid the bulk of its obligation for the 2"d quarter of 2011. The delinquency amounts to about $14,776. Ramada Inn has completely paid their tax delinquency. 4. Franchise fees are down 1.7% compared to last year. 5. Permit fees are up $13,892 or 19.59%. 6. Municipal Court fines are running in line with last year's collections. 7. Interest & lease payments are down $31,991. 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 July. 9. EMS fees are up 2.17%. 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, however, so this line item is budgeted conservatively each year. They are up 5.26% from last year. 11. Total General Fund revenues are .03% below last year. General Fund revenues to date are 88.41% of the budget while the City is 83.33% through the budget year. 12. Total General Fund expenditures are down .95% compared to last year after ten months. General Fund expenditures to date equal 80.14% of budget with the City being 83.33% through the budget year. 13. Sewer revenue is down 5.88% compared to last year due in part to reduced flow and load from Sara Lee and the closure of Sesame Solutions. Water revenue is up 4.30% year to date as the City had a dry summer in 2010 which caused the watering season to extend into the Fall months. 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 1.67% above last year and equal 82.39% of budget which is below the 83.33% budget to date percentage. Total Water & Sewer expenses are .71% above last year at this point in time and represent 52.15% of the total budget (81.35% adjusted for debt payments) while the City is 83.33% through the budget year. - ~ - 38