07 - JUNE 2015 FINANCIAL REPORT - Laserfiche WebLink

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City of Paris June 2015 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 4.22% more than this time last year. The current tax roll is 95.79% collected vs. 96.87% last year. 2. Sales taxes are up 23.93% 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 5.67 %. 3. Hotel occupancy taxes are up 7.32% from last year. All hotels are current on their taxes. 4. Franchise fees are down 0.06% which is only $1,645. 5. Permit fees are up 36.55% compared to last year. This amounts to $27,386. 6. Municipal Court fines are 12.54% 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 16.18 %. 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. The bulk of this year's increase comes from reimbursement of ice storm expenses. 11. Recreation fees are down 10.19 %. 12. Total General Fund revenues are 11.33% above last year. This increase is primarily due to increases in sales tax (including the state audit adjustment discussed above), current taxes, ice storm reimbursements, and EMS fees. Year to date receipts are 88.94% of the budget with the City being 75.00% through the budget year. 13. Total General Fund expenditures are down 1.21% compared to last year. General Fund expenditures to date equal 75.73% of budget with the City being 75.00% through the budget year. 14. Sewer revenue is up 2.59% compared to last year. 15. Water revenue is down 1.55% compared to last year. 16. Total Water & Sewer revenues are 0.42% above last year and equal s 72.03% of budget which is below the 75.00% budget to date percentage. 17. Total Water & Sewer expenses are 1.06% below last year at this point in time and represent 49.93% of the total budget (68.33% adjusted for debt) while the City is 75.00% through the budget year.