09 - Monthly Financial ReportItem No. 9
TO: Mayor, Mayor Pro -Tem, and City Council
Grayson Path, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: MAY 2024 FINANCIAL REPORT
DATE: August 12, 2024
BACKGROUND: Section 69 (3) of the Paris City Charter requires the Finance Director to submit
to the City Council through the City Manager a monthly statement of receipts and disbursements.
STATUS OF ISSUE: This report updates the City Council on the City's financial activities through
the month stated in the subject line.
BUDGET: Not affected by this report.
RECOMMENDATION: Motion to receive the monthly financial report.
City of Paris
May 2024 Financial Report Comments
Net to Date Comparison of Revenues:
1. The operations and maintenance property tax and related collections reported are 1.12% more than
what was reported in 2023. Current tax collections this year are 96.62% of the tax levy vs. 96.74%
last year.
2. Sales taxes are up 3.44% from last year ($240,087).
3. Hotel occupancy taxes are up 8.39% compared to last year ($54,160).
4. Franchise fees are down 5.31% compared to last year ($128,584). This is due to a significant
decrease in the payment from Atmos.
5. Permit fees are up 92.96% from last year ($244,897). This increase is due to new commercial
permits.
6. Municipal Court fines and related fees are down 14.51% compared to last year ($26,221).
7. Other revenue includes leases, interest, copy fees, birth & death certificates, library fees, mixed
beverage tax, and other minor revenues. This revenue is up 23.29% ($424,413). This is due to
higher interest income and miscellaneous revenue.
8. Sanitation fees are up 1.93% ($2,769).
9. EMS fees are up 25.43% compared to last year ($586,556).
10. Lamar County EMS contributions are up 5.62% (15,964) compared to last year.
11. Total General Fund revenues are up 6.52% compared to last year ($1,504,820). General Fund
revenues equal 83.00% of the budget with the City being 66.66% through the budget year.
12. Total General Fund expenditures are up 10.29% ($1,801,783) compared to last year. General Fund
expenditures to date equal 62.16% of budget with the City being 66.66% through the budget year.
13. Sewer revenue was up 19.22% ($1,190,635).
14. Water revenue was down 0.61% ($34,824).
15. Other revenue sources are up 4.37% ($25,387).
16. Total Water & Sewer revenues, ignoring transfers and adjustments, are 9.48% above last year
($1,181,198) and represents 64.95% of the total budget.
17. Total Water & Sewer expenses are 11.24% above last year ($822,774) at this point and represent
38.79% of the total budget (57.75% adjusted for debt payments.) while the City is 66.66% through
the budget year.
18. The Airport Fund is currently operating at a deficit, but summer months bring increased fuel sales
which should narrow the difference between revenue and expense.
19. The Sanitation Fund shows in this report to be operating at a deficit, but this is a timing issue. There
is a pending revenue transfer from the Water Billing Office which collects the sanitation fees to the
Sanitation Fund which will eliminate the deficit shown in this report.
Departmental Expenditure Summary:
At this point the City is eight months or 66.66% 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
distorted expenditure percentage. Within the General, Water & Sewer, Airport, and Sanitation Funds
there were eleven departments whose expenditures were over 66.66%.
1. City Council -95.52%. The overage amounts to $54,985 and was due to consultant costs and
the housing assessment study. The City will receive reimbursement on 2/3 of the study.
2. City Manager -69.82%. The overage amounts to $24,095 and was due to furniture for a
conference room, insurance, and phone expense.
3. Municipal Court -67.10%. The overage amounts to $1,222 which is a combination of small
accounts.
4. City Clerk -69.88%. The overage amounts to $7,057 and was due to office chair, associations,
phone, and utilities.
5. Fire Department -71.10%. The overage amounts to $251,485 and was mainly due to building
maintenance, phone, insurance, and the lease/purchase payment on a fire truck.
6. Library -76.69%. The overage amounts to $84,555 and was caused by supplies, technical
processing, annual insurance payment, travel, furniture, and maintenance agreement.
7. General Expenses -77.24%. The overage amounts to $216,059 and was caused by building
maintenance, EDP costs, branding program, phone costs, and TIRZ costs.
8. Warehouse -70.33%. The overage amounts to $4,546 and was primarily caused by vehicle
maintenance.
9. Water Treatment Plant -72.75%. The overage amounts to $220,467 and was caused by lab
chemicals and filtration plant costs.
10. Cox Field Airport -69.24%. The overage amounts to $26,771 and was due to the additional
contribution required on the Runway Project.
11. Sanitation -69.70%. The overage amounts to $41,988 and was due to use of temp workers.
General comments to the City Council:
1. Over 99% of all of the City operational activity takes place in the General Fund, the Water &
Sewer Fund, Airport Fund, or the Sanitation Fund. The other funds are special purpose funds
with limited activity and usually with legal restrictions on what their money can be spent on. For
that reason, I normally only comment on the activity of the General Fund, Water & Sewer Fund,
Airport Fund, and the Sanitation Fund. However, if circumstances merited it, I would make
comment on activity in one of the other funds.
I try to anticipate questions you might have about the report and comment on those points.
After you receive your packet and review the monthly report, if you have questions about the
report, please let the Manager know (or me if you can't reach the Manager) before the Council
meeting, if possible, in case I have to research the answer to your question. That does not
prevent you from asking the question at the meeting if you wish to make a point, but it does
help prevent questions coming up that I can't answer on the spot and possibly delaying the
Council in making a decision.
City of Paris
GeneraL Fund Recap
May 2024
Net To Date $ 5,278,034.80 $ 5,574,998.02 $ (296,963.22)
Current Year to Date
Prior Year to Date
Net to Date
FY2024
FY2023
Taxes Collected
$
8,130,187.15
$ 8,039,410.91
$
90,776.24
Sales Tax
$
7,214,336.75
$ 6,974,249.58
$
240,087.17
HoteUMotelTax
$
699,347.66
$ 645,187.34
$
54,160.32
Franchise Fees
$
2,292,948.05
$ 2,421,532.95
$
(128,584.90)
Permits
$
508,331.62
$ 263,433.84
$
244,897.78
Court Fees
$
154,472.66
$ 180,693.67
$
(26,221.01)
Other Revenue
$
2,246,538.11
$ 1,822,124.15
$
424,413.96
Sanitation
$
145,958.76
$ 143,189.53
$
2,769.23
EMS Fees
$
2,892,240.22
$ 2,305,683.27
$
586,556.95
Lamar County EMS
$
299,624.30
$ 283,660.00
$
15,964.30
Total Revenues
$
24,583,985.28
$ 23,079,165.24
$
1,504,820.04
Total Expenditures
$
19,305,950.48
$ 17,504,167.22
$
1,801,783.26
Net To Date $ 5,278,034.80 $ 5,574,998.02 $ (296,963.22)
City of Paris
General Fund
Department Expenditures -May 2024
Current Month Actual
Prior Year Month Actual
Current Year to Date
Prior Year to Date
Current Year Budget
Prior Year Budget
May 2024
May2023
FY2024
FY2023
FY2024
FY2023
Department
11 -City Council
$
48,346.59
$
20,800.23
$
181,972.98
$
161,220.69
$ 190,500.00
$
203,900.00
Department
12 -City Manager
$
86,267.89
$
51,046.56
$
505,263.10
$
385,366.42
$ 762,223,00
$
618,106.00
Department
13 -City Attorney
$
38,015,98
$
29,054.77
$
247,015.07
$
253,716.32
$ 418,188.00
$
402,097.00
Department
14 -Municipal Court
$
28,551,61
$
18,432.28
$
173,467.30
$
146,764.08
$ 273,021.00
$
251,997.00
Department
15 -City Clerk
$
23,105,87
$
45,856.61
$
145,362.78
$
127,986.53
$ 219,071.00
$
205,321.00
Department
21 -Accounting & Auditing
$
46,457.27
32,41725
$
312,079.58
$
317,328.14
$ 661,212.00
$
732,719.00
Department
31 -Police
$
764,544.41
623,873,88
$
4,686,160.28
$
4,403,752.92
$ 7,660,330.00
$
7,257,141.00
Department
32 -Fire
$
582,104.66
$
382,584.49
$
3,844,921.74
$
3,539,832.25
$ 5,664,697.00
$
5,594,674.00
Department
40- Community Development
$
126,658.41
$
130,777.85
$
865,334,67
$
910,089.70
$ 1,685,684.00
$
1,649,428.00
Department
41 -Engineering
$
41,058.29
$
56,227.84
$
248,711.14
$
273,474.47
$ 418,884.00
$
396,933.00
Department
42 -Public Works
$
23,158.53
$
18,407.36
$
164,752.33
$
146,163,80
$ 258,963.00
$
232,470.00
Department
43 -Parks & Recreation, ROW
$
156,707.62
$
144,114.49
$
867,090.19
$
848,958.93
$ 1,410,031.00
$
1,486,128.00
Department
44 -Sanitation
$_
$_
$_
$_
$_
$_
Department
46 - Streets & Highways
$
76,672.36
$
120,129.60
$
783,374.15
$
585,019,04
$ 2,544,784.00
$
1,276,173.00
Department
48 - Traffic & Public Lighting
$
41,173.95
$
35,476,30
$
301,927.37
$
309,845.08
$ 515,289.00
$
474,902.00
Department
49- Garage
$
34,739.19
$
27,121.06
$
248,412.58
$
226,415.06
$ 401,450.00
$
370,001.00
Department
54- Emergency Medical Service
$
457,879,87
$
304.645,52
$
2,815,651,22
$
2,910,349.52
$ 5,016,435.00
$
4,422,181.00
Department
62 -Paris Band
$
848.40
$
640.38
$ 23,050,00
$
23,050.00
Department
64 -Library
$
75,559.95
$
73,284.73
$
624.607.05
$
505,374.52
$ 842,999.00
$
799,835.00
Department
89- General Expenses
$
360,789.50
$
333,664.03
$
1,565,727.95
$
1,388,464.10
$ 2,040,739.00
$
2,061,234.00
Department
91 -Contingency
$_
$_
$_
$
97,420.92
$ 50,000.00
$
40,000.00
Department
90 -Debt
$
-
$
(26,965,66)
$
(34,015.85)
$
3,011,791.95
$
2,420,947.19
$
18,582,679.96
$
17,504,167.22
$ 31,057,550.00
$
28,498,290.00
City of Paris
Water & Sewer Fund Recap
May 2024
Water Revenues
Sewer Revenues
Other Revenues
Total Revenues
Current Year To Date
FY2024
$ 5,641,410.52
$ 7,384,912.55
$ 605,295.68
Prior Year To Date
FY2023
$ 5,676,234,98
$ 6,194,276.73
$ 579,908.36
Net To Date
$ (34,824.46)
$ 1,190,635.82
$ 25,387.32
13,631,618.75 $ 12,450,420.07 $ 1,181,198.68
Total Expenditures $ 8,141,240.09 $ 7,318,465.37 $ 822,774.72
Debt $ 3,979,845.00 $ 4,149,119.23 $ (169,274.23)
Net To Date 1,510,533.66 $ 982,835.47 $ 527,698.19
Prior Year to Date
City of Paris
Prior Year Budget
FY2023
FY2024
FY2023
74,342.88 $
Water & Sewer Fund
117,995.00
1,821,183.08 $
2,908,54D.00 $
2,758,811.00
2,170,834.25 $
Department Expenditures -May 2024
3,335,856.00
1,036,089.63 $
1,765,305.00 $
1,693,625.00
516,349.79 $
Current Month Actuat
Prior Year Month Actual.
Current Year to Date
2,518,560.00 $
2,434,667.00
284,595.46 $
May 2024
May 2023
FY2024
Department
80 -Warehouse
$
12,069.70 $
10,850.78 $
83,142.50 $
Department
81-W& S Billing and Col.lectin
$
244,270.12 $
176,514.40 $
1,889,148,84 $
Department
82- Water Production
$
294,255.63 $
314,504.68 $
2,599,321.63 $
Department
83- Water Distribution
$
146,049.60 $
110,220.15 $
1,010,510.99 $
Department
85- Sewer Maintenance
$
40,409.97 $
68,569.11 $
519,943.98 $
Department
86- Waste water Treatment
$
246,662.72 $
202,377.22 $
1,614,689.48 $
Department
87 -Lift Stations
$
40,354.99 $
26,991.48 $
286,688.11 $
Totats
$
1,024,072.73 $
910,027.82 $
8,003,445.53 $
Prior Year to Date
Current Year Budget
Prior Year Budget
FY2023
FY2024
FY2023
74,342.88 $
123,628.00 $
117,995.00
1,821,183.08 $
2,908,54D.00 $
2,758,811.00
2,170,834.25 $
3,619,463.00 $
3,335,856.00
1,036,089.63 $
1,765,305.00 $
1,693,625.00
516,349.79 $
959,441.00 $
849,352.00
1,415,070.28 $
2,518,560.00 $
2,434,667.00
284,595.46 $
477,423.00 $
460,242.00
7,318,465.37 $
12,372,360.00 $
11,650,548.00
City of Paris
Cox Field Airport Recap
May 2024
Current Year to Date Prior Year to Date
FY 2024 FY 2023
Airport Revenue $ 639,423.70 $ 606,423.98
Airport Expenses $ 718,062.92 $ 622,693.71
Net To Date (78,639.22) $ (16,269.73)
City of Paris
Sanitation Fund Recap
May 2024
Current Year to Date Prior Year to Date
FY 2024 FY 2023
Sanitation Revenues
$
905,917.56
$ 843,179.91
Sanitation Expenses
$
961,896.15
$ 831,771.10
Net To Date
$
(55,978.59)
$ 11,408.81