07-February Financial Report - Laserfiche WebLink

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City of Paris February 2016 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 4.53% more than this time last year. Current taxes are 93.90% collected vs. 92.89% last year. 2. Sales taxes are down 20.94% from last year. This is due to the onetime state audit adjustment payment received last year in the amount of $872,390. Adjusting for this payment, sales taxes to date are up $81,495 which is equal to a 2.15% increase over last year. 3. Hotel occupancy taxes are down 6.05% from last year. All hotels are current on their taxes. 4. Franchise fees are up 1.04 %. 5. Permit fees are down compared to last year by 10.53 %. This reduction is primarily in new construction. 6. Municipal Court fines are 5.52% below last year's collections. 7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed beverage tax, and other minor revenues. This revenue is up 28.86% due to the billing of Love's Travel Stop for the signal light on N. Main. 8. Sanitation fees are down because all residential related fees were moved to the new Land Fill Fund. 9. EMS fees are up 2.12% compared to last year. 10. Transfers from the Water & Sewer Fund are up 2.74% in accordance to 2015 -16 Budget. 11. Total General Fund revenues are 15.66% below last year. This decrease is primarily due to the sales tax windfall received last year as discussed above but is also affected by the timing of property tax collections. General Fund revenues equal 53.69% of the budget with the City being only 41.66% through the budget year. 12. Total General Fund expenditures are up 3.57% compared to last year. General Fund expenditures to date equal 44.68% of budget with the City being 41.66% through the budget year. 13. Sewer revenue is up 2.53% compared to last year. 14. Water revenue is up 1.50% compared to last year. 15. Total Water & Sewer revenues are 2.35% above last year and equals 41.86% of the budget which is above the 41.66% budget to date percentage. 16. Total Water & Sewer expenses are 11.45% above last year at this point in time and represent 29.57% of the total budget (42.08% adjusted for debt payments) while the City is 41.66% through the budget year. Departmental Expenditure Summary: At this point the City is five months or 41.66% through the budget year. It is important to remember that expenditures do not occur equally throughout the year. For example, capital expenditures and association memberships are one time expenditures that if made early in the fiscal year can produce a