07-CITY CHARTER REQUIRES FINANCE DIRECTOR TO SUBMIT MONTHLY STATEMENT OF ALL RECEIPTS AND DISBURSEMENTS

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City of Paris July 2012 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections to date are 1.96% less than last year at this point. Collections on the current tax roll are 97.62% compared to 97.43% last year. Keep in mind that the 0&M portion of the tax rate is less than last year as is the taxable value of property. 2. Sales taxes are up 0.62% from last year. This amounts to only $30,356. 3. Hotel occupancy taxes are up 9.91% from last year. All hotels are current on their occupancy taxes except La Quinta. As of 8-14-12, La Quinta is delinquent for the 15` quarter of 2011 but paid the bulk of its obligation for the 2"d quarter of 2011. They are also delinquent for the 3rd and 4thquarter of 2011. Kent and I met with the owner and hotel manager on February 7th. He has promised to pay $3,000 per month on the back taxes plus pay any current amount due on schedule. At that rate it will take approximately 15 months for them to pay the back tax due. La Quinta made its first five $3,000 payments on schedule. La 4uinta missed its sixth $3,000 payment due 8-15-2012. It is also now delinquent on its second quarter 2012 taxes. 4. Franchise fees are up 5.35%. 5. Permit fees are up 45.75% compared to last year. 6. Municipal Court fines are 15.89% above last year's collections. 7. Interest & lease payments are up $16,681. It is normal for the flow of interest revenue and lease payments to vary from year to year. 8. Sanitation fees are down 0.72% or $8,820. 9. EMS fees are down 3.42%. Revenue is determined not only by call volume but by the payer mix (cash, private insurance, Medicare, etc.) and run type (emergency vs. transfer). 10. The mixed beverage tax collection is down 25.30% or $14,650. 11. 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. The difference to date is primarily due to the refund received from TCAP on previous electrical charges in the amount of $27,468. This will be partially offset by the $31,060 refund received in August. 12. Recreation program fees are up $7,249. 13. Total General Fund revenues are 0.21% above last year. General Fund revenues to date are 86.71% of the budget while the City is 83.33% through the budget year. 14. Total General Fund expenditures are up 2.86% compared to last year. General Fund expenditures to date equal 80.90% of budget with the City being 83.33% through the budget year. 15. Sewer revenue is up 7.88% compared to last year due to the rate increase approved by the Council last June but is only 79.79% of budget. 16. Water revenue is down 2.63% compared to last year but at 83.48% of budget, it still exceeds the budget to date number of 83.33%.. 17. Miscellaneous water and sewer revenues are down due to receiving the Corps of Engineers' refund regarding Pat Mayse Lake last year. 18. Total Water & Sewer revenues are 0.31% below last year and equal 82.34% of budget which is below the 83.33% budget to date amount. The bulk of the decrease is due to the Pat Mayse refund last year which was a onetime event and decreased water sales 27