08-FINANCE DIRECTOR SUBMITTAL OF MONTHLY STATEMENT OF ALL RECEIPTS AND DISBURSEMENTS

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City of Paris August 2011 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 4.41% 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 97.65% of the tax roll which compares to the 97.73% collection percentage at this same point last year. 2. Sales taxes are up 3.85% over last year. 3. Hotel occupancy taxes are down 3.94% from last year. As of 9-13-2011, La Quinta is delinquent for the 15` 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 2.66% compared to last year. 5. Permit fees are up $16,352 or 21.85% due to increased volume. 6. Municipal Court fines are 1.30% below last year's collections. 7. Interest & lease payments are down $37,221. It is normal for the flow of interest revenue to vary from year to year. 8. Sanitation fees are up 11.75%. This reflects the rate change approved by the Council last July. 9. EMS fees are down 0.58%. This is not a significant number overall. 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 0.77% from last year. 11. Recreation program fees were down 6.20% this year due to the late opening of the pool which needed repairs. 12. Total General Fund revenues are .033% below last year. General Fund revenues to date are 94.75% of the budget while the City is 91.66% through the budget year. 13. Total General Fund expenditures are down 1.23% compared to last year. General Fund expenditures to date equal 89.13% of budget with the City being 91.66% through the budget year. 14. Sewer revenue is down 3.60% compared to last year due in part to reduced flow and load from Sara Lee and the closure of Sesame Solutions. 15. Water revenue is up 6.52% year to date as the City had a dry summer in 2010 which caused the watering season to extend into the Fall months. The Summer of 2011 was also hot and dry as well. 16. Miscellaneous water and sewer revenues are up due to the $149,484 refund received from the US Corps of Engineers on Pat Mayse Lake. 17. Total Water & Sewer revenues are 3.79% above last year and equal 93.89% of budget which is above the 91.66%a budget to date percentage. 18. Total Water & Sewer expenses are 2.08% above last year at this point in time and represent 57.71% of the total budget (86.78% adjusted for debt payments) while the City is 91.66% through the budget year. . 28