08-May 2009 Financial ReportCITY COUNCIL AGENDA ITEM BRIEFING SHEET
Submittal Date:
06-08-2009
Originating Department:
Presented By:
Agenda Item No.:
Council Date:
06-22-2009
Finance
Gene Anderson
RECOMMENDED MOTION:
Move to approve the May 2009 Financial Report as presented.
POLICY ISSUE~S~:
Monitoring actual municipal revenues and expenditures verses the Council adopted budget.
BACKGROUND:
The Paris City Charter Section 69 (3) requires the Finance Director to submit to the Council through the
City Manager a monthly statement of all receipts and disbursements. The attached report meets that
requirement.
BOARD~COMMISSION RECOMMENDATION:
EXHIBITS:
May 2009 Financial Report
ACTION:
BUDGET INFO:
~ Financial Report ~ Minute Order
Expense
$N/A
❑ Department Report ❑ Resolution
❑ P
Budgeted Amt.
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resentation ❑ Ordinance
❑ P
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❑ O
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Acct. Name
N/A
Acct. Number
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FISCAL NOTES:
REVIEWED AND APPROVED BY:
~ Administration ~ City Clerk ❑ Community Development ❑ EMS/IT ~ Finance ❑ Fire
❑ Municipal Court ❑ Legal ❑ Library ❑ Police ❑ Eng./Public Wotks ❑ Utilities
City of Paris Revised 2/04/08
~ ~U~~~1.:~
City of Paris
May 2009 Financial Report Comments
Net to Date Comparison of Revenues:
Property tax collections are 1.4% less than this point last year. I have spoken with the City's
delinquent tax attorney firm about contacting some of the larger delinquent accounts from the
current year.
2. Sales tax collections are 18.8% above last year's collections to date. Sales tax remittances to the
City from the State reflect sales from two months earlier. May collections reflect March sales.
3. Hotel occupancy taxes stand 27.3% over this same time last year. All hotel taxes are current
except for La Quinta which is delinquent for the first quarter of 2009. Both the City Attorney
and I have sent payment demand letters to them.
4. Franchise taxes are up 5.6% at this point.
5. Permit fees are up 213.4`Yo due to Paris High School's building permit fee of nearly $90,000.
6. Municipal Court fines are down 10.3% after eight months of activity.
7. Hanger lease payments and interest earnings are down compared to last year but this is due to
the somewhat irregular timing of such payments. At times renters will get behind a month or
two then catch up and sometimes they pay in advance knowing that they are going to be away
for a while. Over the course of the year this works itself out but it can at give a distorted view
of collections during the year. Likewise, interest revenue does not take place evenly throughout
the year.
8. EMS fees are 3.7% behind last year.
9. Miscellaneous collections are down for two primary reasons. First, last year's collections
included revenue collected from the sale of the abandoned Southern Disposal dumpsters.
Second, the construction deposits for the Holiday Inn Express and the Comfort Inn were initially
placed in miscellaneous revenue. The deposits were moved in July 2008 to an appropriate
holding account.
10. Total General Fund revenues are 2.8% above last year's receipts at this time. General Fund
revenues to date equal 79.1% of that budget while the City is only 66.66% through the budget
year. The difference between actual collections to date and budget collections to date is
because the City has collected 96.9% of its current taxes and 77.0% of its sales tax revenues.
11. Total General Fund expenditures are 5.1% more than last year, but within the current budget
amounts. General Fund expenditures are at 62.99% of budget while the City is 66.66% through
the budget year.
12. Water revenue is up 3.1% while sewer revenue is up 10.19'0.
13. In the Water & Sewer Fund, the receipts from the City of Irving represent reimbursements
under the MOU agreement. A total of $142,536.75 had been billed to Irving as of May 31st and
$142,536.75 has been collected.
14. Water & Sewer interest revenue is down but that is mostly a reflection of changing investment
maturity dates which affect the cash flow of interest payments. Changing interest rates also
have some impact on this line item.
15. The Water & Sewer Miscellaneous line item is down due to increased charge offs. I investigated
this matter and found that the billing clerk had failed to journalize some charge offs on a timely
basis resulting in an unusually large charge off when the transactions were finally journalized.
This matter has been discussed with her and should not happen again. The Office Manager will
monitor this situation.
a u 0 0 0 G:3
16. Total Water & Sewer Water revenue is up 4.7% over last year. Water & Sewer revenues to date
equal 64.08% of that budget. This percentage is behind the budget to date percentage of
66.66Yo, but the summer months produce the highest revenues of the year. Unless we have a
wet summer, revenues should produce the expected results.
17. Total Water & Sewer expenses are 13.9% higher than last year and amount to 66.9% of the
current budget when debt payments are included. Budget to date expenditures would be
66.66%.
Departmental Expenditure Summary:
At this point the City is 8 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. In this year's budget both stability pay and the Council authorized
lump sum payment were made in November and are reflected in the departmental budgets. Within the
General and Water & Sewer Funds there are 6 departments whose expenditures are over 66.66% at this
time. This does not include the contingency line item which is discussed below.
1. Municipal Court-68.08%. The overage amounts to $3,205 and consists mainly of personnel costs,
auditing expense, and travel expense.
2. Traffic & Lighting-67.24%. The overage amounts to $2,928 and is made up of mainly of
electricity expense.
3. General & IT Expenses-73.50%. The overage amounts to $89,178 and consists mainly of
increased payments of hotel taxes to the Chamber because of increased tax collections, the
City's contribution to the Health Department, and expenditures for equipment.
4. Contingency-129.29%. The overage is due to the City's $393,520 forced repayment of the grant
from the Office of Rural Community Affairs (Contract # 719068).
5. Warehouse-67.82%. The overage amounts to $1,232 and consists mainly of personnel costs.
There was a two week overlap in the warehouse supervisor position as one employee retired
and the replacement employee came on board. There was also some vacation pay due the
retiring employee in accordance with City policy.
6. Water Billing-69.28%. This overage amounts to $44,861 and is made up entirely of consultant
fees related to the Pat Mayse water study. Expenses for this study are run through this
department but were not specifically budgeted for so as not to artificially inflate that
department's budget. Consultant expenses will be reimbursed by the City of Irving.
7. Water Production-70.35%. This overage amounts to $101,302 and is made up of mainly of
chemical and electrical costs.
SPECIAL NOTES:
1. In the Capital Projects Fund, the $121,765 Police related expenditures were made in connection
to the CAD-Mobile Data Project. This project was approved several years ago but the approved
funds are not reflected in the current budget. None of the items budgeted in the $20,000
amount have been purchased at this point.
2. In the Capital Projects Fund, Community Development expenditures for the Casa Bonita project
total $437,156 and there were $99,677 in demolition expenditures.
3. In the Capital Projects Fund, there has been $47,783 spent for street repairs and $14,512 spent
as part of the street sign upgrade.
m• u 0 0 01 2 _1L
4. In the Capital Projects Fund, the Water Treatment Plant has spent $35,701 for
instruments/apparatus and $2,206 on their communication system. The Wastewater Plant has
spent $52,085 for equipment.
5. As noted at a previous Council meeting, the Parks Department expenditures in the Grant Fund
are for the extension of the original "rails to trails" trail eastward and the Police Department has
expended money in their various grant projects (Auto Theft, JAG, School Resource Officer,
Felony Crimes).
6. On the Departmental Expenditure Summary, the line item titled "Contingency" with a budgeted
amount of $304,369 consists of the $50,000 budgeted for contingencies and the $254,361
budgeted for the lump sum payment to employees. The lump sum payment was made in
November. The lump sum payment, however, is not reflected on this line item because the
actual payment was charged to the salary and related benefit line items in the various
departments. This was necessary in order for 2008 W-2s to reflect correct amounts. The City
Council authorized transferring the lump sum appropriation to the appropriate department in
June and this should be reflected on the June financial report. The $393,520 payment charged to
the contingency line item was the repayment of the housing grant triggered by the City's failure
to meet all of the grant terms.
General comments to the City Council:
1. Over 99% of all of the City operational activity takes place in the General Fund or the Water and
Sewer 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 and Water & Sewer Fund. However, if it were
needed, 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.
3. The activity of the Health Department and Paris Economic Development Corporation is reflected
in the monthly report. This is a result of the City performing the bookkeeping functions for both
of these groups. Both groups have their own managing board.
~ U U~0 2
Net to Date Comparison
Descri tion
2009
2008
Net to Date
General Fund
Taxes Collected
6,298,799.07
6,390,528.05
(91,728.98)
Sales Tax
4,309,483.63
3,624,489.06
684,994.57
Hotel-Motel Tax
377,481.84
296,401.26
81,080.58
Franchise Fees
2,185,653.19
2,068,174.95
117,478.24
Permits
132,763.32
42,358.62
90,404.70
Court Fines
270,431.18
301,808.51
(31,377.33)
Leases & Interest
204,717.83
299,653.30
(94,935.47)
Fees & Copies
12,156.90
12,114.23
42.67
Lamar Count Fire
1,200.00
1,200.00
0.00
Streetscape Grant
0.00
23,058.08
(23,058.08)
Sanitation Fees
870,855.16
881,275.28
(10,420.12)
EMS Fees
1,666,450.12
1,732,237.01
(65,786.89)
State Revenue
46,947.21
42,708.96
4,238.25
Miscellaneous Fees
170,672.75
335,798.88
(165,126.13)
Water & Sewer Transfer
500,000.00
500,000.00
0.00
Summer Programs
32,307.20
46,831.08
(14,523.88)
General Fund Totai Reverrues
` General Fund Tota{ Ex enditures
Net to'Date
' 17,079,919.4Q
13,596,648.43
' 3,483,270.97
16,59$,63727
12,929,854.48
3,668,782.79
481,282.13
666,793.95 `
' 185,511.82
PEDC Fund
Sales Tax
861,896.68
724,897.77
136,998.91
Interest Earned
42,991.87
10,491.62
32,500.25
Loan Pa ments
304,000.00
360,150.00
(56,150.00)
PEDC Fund Total Revenues
PEQC'Fund Total Ex enditures '
Net to't7ate
1,208,888.55
706,15165
502,734M
1,095,539.39
1,251„337.24
155,797.85
' 113,349.16:
' 545,183.59
' 658,532.75 "
Water & Sewer Fund
Sewer
3,471,314.57
3,151,110.93
320,203.64
Water
4,932,397.45
4,779,652.54
152,744.91
Cit of Irvin
84,920.95
40,000.00
44,920.95
Interest Earned
45,975.73
89,807.68
(43,831.95)
Miscellaneous
208,657.73
282,756.29
(74,098.56)
' W&S F'und Total Revenues
W&S Fund Totaf Ex enditures
" 8,743,266.43
5,960,715.26
8,343,327.44
; 5,230,125.20
' 399,938.99 '
' 730,590M
Net to'Date
' 2,782,551.17
3,113,202.24
330,651.07 ,
Ca ital Pro'ects Fund
Interest Earned
9,341.86
11,142.81
(1,800.95)
Ca ital Pro'ects Fund Reuenues
9,341.86
11,142.81
1,800.95 '
Ca ital Pro'ects Fund Ex enditures
Net to;Date
810,885.53
801,543.67
73,069.67
61,926.86
' 739,616.81
May 2009 Net to Date.xls 1 6/4/2009
~ 0 ~0 01
~v
Net to Date Comparison
Descri tion 2009 2008 Net to Date
WW&SS Rev Bond 2000 Construction
Interest Earned 12,513.00 70,841.95 (58,328.95)
E ui ment Replacement Fund
Interest Earned
9,341.86
0.00
9,341.86
E ui ment Re iacement Fund Revenues
' E ui rnent Re lacement Fund Ex enditures
Nef to Date
9,341.$6
0.40
9,341.86
0.00
4,00
0.{}0
9,341.86 '
'
' 0,00
9,341.8~ '
S ecial Funds
Special Funds
54,297.00
51,516.92
2,780.08
Interest Earned
275.84
532.09
(256.25)
Child Safet Fund
Interest Earned 88.78 50.02 38.76
Donations 18,906.50 10,270.00 8,636.50
Health De artment
Interest Earned
112.81
0.00
112.81
Fees & Grants
776,902.41
494,221.04
282,681.37
Health pe artment Fund Revenues
' Health De artment Fund Ex er~ditures '
Net to:Da#e '
777,415.22
562,746.29
214,268.93
494,221.04
575,{~69:U2
80,847.98
' 282,794,18 '
12,322.73 '
295,116.91 '
Grant Fund
Grants
391,824.99
494,752.10
(102,927.11)
Interest Earned
0.00
128.36
(128.36)
Communit Develo ment Block Grant
Interest Earned 3,079.62 904.46 2,175.16
Grants 0.00
° CommunitY Dvl Block Grant Fd Revenues 3,079.62 ; 904.46 2,175.16 '
May 2009 Net to Date.xls 2 6/4/2009
u 0 0 t10?
Net to Date Comparison
Descri tion 2009 2008 Net to Date
Tax & Rev CO 2000 Const Fund
Interest Earned 553.97 1,708.47 1,154.50)1
CO Series 2002 Construction Fd
Interest Earned
7.81
26.08
(18.27)
C43 Series 2002 Construction Fd Revenues
' CO Series 2002 Construction Fd Ex enditures
7.81
26.08
18.27 '
0.0(} '
Net to'Date '
7.81
26.(}8
18.27 '
Revenue Bonds Sinking Funds
Transfer to GO Refundin 2003
380,000.00
121,000.00
259,000.00
Interest Earned
46,236.24
52,447.67
6,211.43)
Revenue Bnnds Sinkin F'unds Revenues
Revenue BQnds Sinkin Funds Ex enditures
Nef to'Date
426,23624
3,056,614.63
2,630,378.29)
173,447.67
2,982,885.16
2,849,437.49
' 252,7$$.57 :
' 73,729,37
' 179,059.20 '
Tax & Rev CO 2000 1&S Fund
Tax & Rev COs 2000 I&S
484,652.14
522,782.21
(38,130.07)
Interest Earned
535.36
891.27
(355.91)
'
Tax & Reu CO 2000;1&S Fund Reuenues'
Tax &'Rev CO 2000 1&S Fund Ex 'enditures
485,1$7.50
389,668.13
523,673.48
383,105.83
38,485.98
6,562.50 '
Net ta;Qate ;
95.519.37
140,567.85
' 45,048.48 '
Tax & Rev CO 2002 I&S Fund
Tax & Rev COs 2002 I&S
421,615.23
421,030.02
585.21
Tax & Rev CCI 20021&S Fund Revenues`
„Tax & Reu CC? 2002'1&S Fund Ex `enditures
Nef to'Date ;
421,615.23
342,824,75
78,790.48
421,930.02
336,8X25
84,193.77
585.21 ;
5,988.5(}
5,40129
2003 GO Refundin Bonds
Cert Of Obli . 2003 I&S
377,579.28
342,561.25
35,018.03
Interest Earned
1,224.86
4,432.81
3,207.95
2003 GO Refundin 'Bonds Revenues
2003 GO Refundin Bonds Ex enditures'
378,804.14
46,000.00
346',994.{?6
92',000.00
31,810.08'
' 46,000.00 '
' Net to Date
332,804. 14
254,994.06
' 77,810.08 '
Libra Memorial Fund
Interest Earned
264.11
1,072.20
808.09)
Memorial Donations
3,866.80
5,202.90
1,336.10)
Librar" Memorial Fund Revenues `
'Libra Memorial Fund Ex enditures
Net to Date
4,130.91
1,313.11
2,817.80
6,275.10.
26,156.24
19,881.14
2,144.19
24,$43.13 '
22,698.94 '
May 2009 Net to Date.xls 3 6/4/2009
~ ~.i0 0 pi
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Net to Date Comparison
Descri tion
2009
2008
Net to Date
Libra Ex endable Fund
Interest Earned
636.28
513.32
122.96
Donations
0.00
5,000.00
5,000.00)
Librar Ex endable Fund Revenues
636.28
5,51 3.32
4,877.04 :
Libra Ex endable Fund Ex enditures
0.00
4,538.00
4,538.00
Net to'Date
' 636.2$
' 975.32
339.04 '
Libra Permanent Fund
Interest Earned
1.80
6.02
(4.22)
' Libra Permanent Funcf Revenues
1 .8Q
6:02..
' 4.22 '
' Libra Permanent Fund Ex enditures '
0.00
31,278.50
31,278.50
' Net to Date `
1.80
31„272.48
31,274.28 '
May 2009 Net to Date.xls 4 6/4/2009
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