07 - MAY 2015 FINANCIAL REPORT - Laserfiche WebLink

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City of Paris May 2015 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 3.35% more than this time last year. The current tax roll is 95.45% collected vs. 96.53% last year. 2. Sales taxes are up 25.89% 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 audit adjustment, sales taxes for the year would be up compared to last year by 5.51 %. 3. Hotel occupancy taxes are up 7.32% from last year. All hotels are current on their taxes. 4. Franchise fees are up 0.40 %. 5. Permit fees are up 16.93% compared to last year. This amounts to $10,955. 6. Municipal Court fines are 11.88% below last year's collections. 7. Leases & Interest cash flows vary from year to year primarily due to investment maturity dates making it difficult to compare the current and previous year. 8. The Streets & Highways increase was a bookkeeping entry to add some old street assessments to the general ledger. 9. EMS fees are up 13.88 %. 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. 11. Recreation fees are up $3,097 or 5.15 %. 12. Total General Fund revenues are 9.70% above last year. This increase is primarily due to increases in sales tax (including the state audit adjustment discussed above), current taxes, and EMS fees. Year to date receipts are 80.51% of the budget with the City being 66.66% through the budget year. 13. Total General Fund expenditures are down 1.21% compared to last year. General Fund expenditures to date equal 68.51% of budget with the City being 66.66% through the budget year. 14. Sewer revenue is up 2.47% compared to last year. 15. Water revenue is down 1.33% compared to last year due in large part to the mild weather in September and October. 16. Total Water & Sewer revenues are 0.49% above last year and equal 63.96% of budget which is below the 66.66% budget to date percentage. 17. Total Water & Sewer expenses are 2.32% below last year at this point in time and represent 44.24% of the total budget (47.72% adjusted for debt) while the City is 66.66% through the budget year.