07 - APRIL 2016 FINANCIAL REPORT

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City of Paris April 2016 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 8.51% more than this time last year. Current taxes are 95.58% collected vs. 94.81% last year. Delinquent tax collections are also strong this year. 2. Sales taxes are down 16.41% 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 1.41 %. 3. Hotel occupancy taxes are down 2.52% from last year. All hotels are current on their taxes. 4. Franchise fees are down 2.01 %. 5. Permit fees are up 4.67 %. 6. Municipal Court fines are 3.51% 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 down 9.16% primarily due to an old street assessment that was added to the general ledger last year and the recognition of the associated accrued revenue. 8. Sanitation fees are down because all residential related fees were moved to the new Land Fill Fund. In total the fees are comparable to last year. 9. EMS fees are up 5.73% 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 5.36% below last year. This decrease is primarily due to the sales tax windfall received last year as discussed above. General Fund revenues equal 71.56% of the budget with the City being only 58.33% through the budget year. 12. Total General Fund expenditures are up 5.48% compared to last year. General Fund expenditures to date equal 61.31% of budget with the City being 58.33% through the budget year. 13. Sewer revenue is up 2.84% compared to last year. 14. Water revenue is up 1.11% compared to last year. 15. Total Water & Sewer revenues, ignoring transfers, are 1.96% above last year and equals 57.56% of the budget which is just below the 58.33% budget to date percentage. Transfers are ignored for this calculation. 16. Total Water & Sewer expenses are 10.06% above last year at this point in time and represent 42.14% of the total budget (53.72% adjusted for debt payments) while the City is 58.33% through the budget year. Departmental Expenditure Summary: At this point the City is seven months or 58.33% 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 distorted expenditure percentage. Within the General and Water & Sewer Funds there are sixteen departments whose expenditures are over 58.33% at this time.