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City of Paris December 2014 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 6.84% more this year than this time last year. The current tax roll is 28.47% collected vs. 27.81% last year. 2. Sales taxes are up 60.18% over last year due to a one time state audit adjustment. The adjustment added an extra $872,390 to the General Fund and $174,478 to PEDC. Without the adjustment, sales taxes for the month would have been down compared to last year by 3.46 %. 3. Hotel occupancy taxes are up 10.19% from last year. All hotels are current on their taxes. 4. Franchise fees are up 7.03 %. 5. Permit fees are up 94.54% compared to last year. This is only $15,279. 6. Municipal Court fines are 8.85% above last year's collections. 7. The Leases & Interest comparison is distorted by the purchase last year of a security with accumulated interest. This distortion will go away when the city's first interest payment on that security shows up on a future report. 8. The Streets & Highways increase was a bookkeeping entry to add some old street assessments to the general ledger. 9. EMS fees are up 20.15 %. 10. The mixed beverage tax for the quarters ending 9 -30 -14 and 12 -31 -14 will show up on the January 2015 report. 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. 12. Recreation revenues are down 21.21% which is only $2,132. 13. Total General Fund revenues are 24.23% above last year. This increase is primarily due to increases in sales tax (including the state audit adjustment discussed above) and EMS fees. Year to date receipts are 30.60% of the budget with the City being 25.00% through the budget year. 14. Total General Fund expenditures are up 4.81% compared to last year. Increased expenditures were primarily caused by having 3 pay periods in October and the payment for capital items in the new budget. General Fund expenditures to date equal 26.51% of budget with the City being 25.00% through the budget year. 15. Sewer revenue is up 1.05% compared to last year. 16. Water revenue is down 4.04% compared to last year - $68,275 due in large part to the mild weather in September and October. 17. Total Water & Sewer revenues are 1.95% below last year and equal 25.00% of budget which is the same as the 25.00% budget to date percentage. 18. Total Water & Sewer expenses are 3.64% below last year at this point in time and represent 16.26% of the total budget (25.39% adjusted for debt) while the City is 25.00% through the budget year.