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08-JANUARY 2011 FINANCIAL REPORTCITY COUNCIL AGENDA ITEM BRIEFING SHEET Submittal Date: Originating Department: Presented By: Agenda Item No.: 2-22-11 Council Date: Finance Gene Anderson 2-28-11 RECOMMENDED MOTION: Not an action item. POLICY ISSUE(S): Fiscal oversight. Section 69 (3) of the Paris City Charter requires the Finance Directar 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: None EXHIBITS: January 2011 Financial Report ACTION: BUDGET INFO: Z Financial Report Z Minute Order Expense $NA ❑ Department Report ❑ Resolution Budgeted Amt. $NA ❑ Presentation ❑ Ordinance y'I'D Actual $NA ❑ Public Hearing ❑ Other Acct. Name NA Acct. Number NA FISCAL NOTES: None REVIEWED AND APPROVED BY: Z Administration Z City Clerk ❑ Community Development ❑ EMS/IT Z Finance ❑ Fire ❑ Municipal Court ❑ Legal ❑ Libraty ❑ Police ❑ Eng./Public Works ❑ Utilities City of Paris 33 Revised 2/04/08 City of Paris January 2011 Financial Report Comments Net to Date Comparison of Revenues: 1. Some property tax collections paid in January were not allocated to the taxing entities until February. This sometimes happens sometimes in the heavy payment months. In February 2011, a total of $1,545,633.66 was deposited that were actually January payments. This still left the City $646,563 (12.03%) below last year's collections at the end of January. Based on collections during the first two weeks of February, this short fall will go away with the February report. 2. Sales taxes are up 7.61% over last year. 3. Hotel occupancy taxes are down less than 1%. As of 2-18-2011, Ramada Inn is delinquent for the quarter ending 9-30-2010 and the quarter ending 12-31-2010. La Quinta owes $709.80 in interest from the 2"d quarter of 2010 plus they are delinquent for the 4t" quarter of 2010. 4. Franchise fees are up 3.42% over last year. 5. Permit fees are up $7,347 or 31.79%. 6. Municipal Court fines are up 7.34%. 7. Interest & lease payments are down $7,833. It is normal for the flow of interest revenue to vary from year to year. 8. Regarding the Fire Department related revenue, the County discontinued their $150 monthly ($1800 annually) support payments last year after making a single payment. The County had made such payments to the City for fire protection services provided to County residents living inside the City limits. They make similar payments to rural fire departments. These payments have been made for well over 30 years. The only explanation given for stopping the payments was that there was no legal requirement to make them. 9. Sanitation fees are up 13.32%. This reflects the rate change approved by the Council last July. 10. EMS fees are up 13.56%. 11. 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 primary difference to date is caused by the $59,580 return of equity payment from the TML insurance pool. 12. Total General Fund revenues are 18.22% below last year due to the late distribution of tax payments and slower payment this year. This percentage decrease would be 2.57% if adjusted for January tax payments received in February. General Fund revenues to date are 38.23% of the budget (45.54% adjusted for January tax payments reported in February) while the City is 33.33% through the budget year. 13. Total General Fund expenditures are up less than one percent compared to last year after four months. General Fund expenditures to date equal 31.91% of budget with the City being 33.33% through the budget year. 14. Sewer revenue is down 5.43% compared to last year due in part to reduced flow and load from Sara Lee. Water revenue is up 10.34% year to date as the City benefited from a dry summer which caused a longer watering season. Miscellaneous water and sewer revenues are up due to the $149,484 refund received from the US Corps of Engineers on Pat Mayse Lake. Total Water & Sewer revenues are 7.22% above last year and equal 38.23% of budget which is above the 33.33% budget to date percentage. Total Water & Sewer expenses are 2.67% above last year at this point in time and represent 28.13% of the total budget (adjusted for debt payments) while the City is 33.33% through the budget year. 34 Departmental Expenditure Summary: At this point the City is one month or 33.33% 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 eight departments whose expenditures are over 33.33% at this time. Stability pay for non-civil service employees is paid once a year in November. This payment early in the budget year does cause some distortion in the percentage of expenditures to date. The City pays salaries biweekly resulting in ten months with two pay periods and two months with three pay periods. When the City has a three pay period month early in the year (December 2010), this also causes some distortion in the percentage of expenditures to date. The passage of time will correct this distortion. 1. City Attorney-33.80%. This overage amounts to $1,984 and is due to the three pay periods in December and the payment of stability pay in November. 2. Municipal Court-33.53%. The overage amounts to $469 and is statistically insignificant. 3. Police-35.34%. The overage amounts to $107,011 and is primarily due to the three pay periods in December, stability pay, and maintenance agreement payments. 4. Garage-34.21°/a. The overage amounts to $2,493 and is primarily due to the three pay periods in December and stability pay. 5. EMS-35.47%. The overage amounts to $45,880 and is primarily due to the three pay periods in December, stability pay, fuel, and maintenance agreement costs. 6. Cox Field-52.29%. The overage amounts to $21,499 and is due to the additional TXDOT match requirement on the airport runway grant. 7. General Expenses-33.96%. The overage amounts to $9,398 and is due to payment in full of the non-profit entities (except for the Models of the Maker which are being funded on a reimbursement basis), the City contribution to the Health Department, CPR training for City employees, and IT equipment purchases. 8. Warehouse-40.50%. The overage amounts to $8,942 and is due to the purchase of a pickup for that department. 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. 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. 35 Year to Date Comparison 7. January, 2011 Current Year Previous Year Net to Date General Fund Taxes Collected 3,179,807.33 5,372,004.23 (2,192,196.90) Sales Tax 1,925,299.91 1,788,999.71 136,300.20 Hotel-Motel Tax 211,759.06 213,660.36 (1,901.30) Franchise Fees 795,825.84 769,483.24 26,342.60 Permits 30,453.15 23,105.89 7,347.26 Court Fines 114,253.39 106,431.29 7,822.10 Leases & Interest 55,881.01 63,714.39 (7,833.38) Fees & Copies 4,586.85 4,464.70 122.15 Sanitation Fees 492,676.14 434,757.60 57,918.54 EMS Fees 856,738.66 754,430.15 102,308.51 Mixed Beverage Tax 28,071.00 27,938.24 132.76 Miscellaneous Fees 121,385.61 62,742.80 58,642.81 Water & Sewer Transfer 250,000.00 250,000.00 - Recreation Programs 8,536.45 2,908.55 5,627.90 General Fund Total Revenues 8,075,274.40 9,874,641.15 (1,799,366.75) General Fund Total Expenditures 6,740,746.70 6,683,713.60 57,033.10 Net to Date 1,334,527.70 3,190,927.55 (1,856,399.85) PEDC Fund Sales Tax 385,059.97 357,799.93 27,260.04 Interest Earned 1,505.29 6,230.20 (4,724.91) Loan Payments 114,044.68 152,000.00 (37,955.32) PEDC Fund Total Revenues 500,609.94 516,030.13 (15,420.19) PEDC Fund Total Expenditures 221,174.53 793,283.14 (572,108.61) Net to Date 279,435.41 (277,253.01) 556,688.42 Water & Sewer Fund Sewer 1,637,369.20 1,731,482.27 (94,113.07) Water 2,707,505.12 2,453,585.94 253,919.18 Interest Earned 25,955.47 13,824.43 12,131.04 Miscellaneous 298,297.23 153,770.11 144,527.12 W&S Fund Total Revenues 4,669,127.02 4,352,662.75 316,464.27 W&S Fund Total Expenditures 2,610,495.90 110,732.33 2,499,763.57 Net to Date 2,058,631.12 4,241,930.42 (2,183,299.30) Capital Projects Fund Interest Earned 585.74 3,006.03 (2,420.29) Auction Proceeds Capital Projects Fund Revenues 585.74 3,006.03 (2,420.29) Capital Projects Fund Expenditures 58,996.03 - 58,996.03 Comparison Report Page 1 36 2/21/2011 Year to Date Comparison l. January, 2011 Current Year Previous Year Net to Date Net to Date (58,410.29) 3,006.03 (61,416.32) WW&SS Rev Bond 2000 Construction Interest Earned 1,218.23 3,439.34 (2,221.11) WW&SS Rev Bond 2000 Const Revenues 1,218.23 3,439.34 (2,221.11) WW&SS Rev Bond 2000 Const Fund Expenditures - - Net to Date 1,218.23 3,439.34 (2,221.11) Equipment Replacement Fund Interest Earned 5,414.14 30,890.51 (25,476.37) Auction Proceeds - _ Equipment Replacement Fund Revenues 5,414.14 30,890.51 (25,476.37) Equipment Replacement Fund Expenditures 93,400.00 - 93,400.00 Net to Date (87,985.86) 30,890.51 (118,876.37) CO 2010 Construction Fund Interest Earned 5,037.16 - 5,037.16 Repayments From Other Funds - - CO 2010 Construction Fund Revenues 5,037.16 - 5,037.16 CO 2010 Construction Fund Expenditures 441,875.14 72,520.00 369,355.14 Net to Date (436,837.98) (72,520.00) (364,317.98) Special Funds Special Funds 10,833.39 (10,833.39) Interest Earned 0.63 105.81 (105.18) Special Revenue Funds Revenue 0.63 10,939.20 (10,938.57) Special Revenue Funds Expenditures 25,517.16 (25,517.16) Net to Date 0.63 (14,577.96) 14,578.59 Child Safety Fund Interest Earned 43.51 32.10 11.41 Donations - 30.00 (30.00) Child Safety Fund Revenues 43.51 62.10 (18.59) Child Safety Fund Expenditures - 10,259.18 (10,259.18) Net to Date 43.51 (10,197.08) 10,240.59 Health Department Interest Earned _ Fees & Grants 301,917.37 300,050.35 1,867.02 Health Department Fund Revenues 301,917.37 3001050.35 1,867.02 Health Department Fund Expenditures 311,099.11 317,111.09 (6,011.98) Net to Date (9,181.74) (17,060.74) 7,879.00 Comparison Report Page 2 37 2/21/2011 Year to Date Comparison Migmah" January, 2011 Current Year Previous Year Net to Date Grant Fund Grants 736,730.63 291,643.92 445,086.71 Interest Earned 52.10 17.00 35.10 Grant Fund Revenues 736,782.73 291,660.92 445,121.81 Grant Fund Expenditures 9,362.50 2,355,331.00 (2,345,968.50) Net to Date 727,420.23 (2,063,670.08) 2,791,090.31 Water Contract Fund Interest Earned 6,057.95 7,480.35 (1,422.40) Deposits Billed (50.00) (165.50) 115.50 Water Contract Fund Revenue 6,007.95 7,314.85 (1,306.90) Water Contract Fund Expenditures Net to Date 6,007.95 7,314.85 (1,306.90) Community Development Block Grant Interest Earned and Fees 1,977.17 1,379.06 736.03 Grants Community Dvl Block Grant Fd Revenues 1,977.17 1,379.06 736.03 Community Dvl Block Grant Fd Expenditures 1,350.00 1,450.00 (100.00) Net to Date 627.17 (70.94) 836.03 Home Buyers Assistance 2009 Grants - 50,000.00 (50,000.00) Home Buyers Assistance 2009 Revenues - 50,000.00 (50,000.00) Home Buyers Assistance 2009 Expenditures 18,200.00 40,000.00 (21,800.00) Net to Date (18,200.00) (10,000.00) (8,200.00) Texas Department of Community Affairs Interest Earned _ OCC Payments 5,098.00 1,500.00 3,598.00 TX Dept of Community Affairs Revenues 5,098.00 1,500.00 3,598.00 TX Dept of community Affairs Expenditures 1,253.00 - 1,253.00 Net to Date 3,845.00 1,500.00 2,345.00 Municipal Court Tech Fee Municipal Court Tech Fee 4,122.30 4,122.30 Interest Earned 93.11 93.11 Municipal Court Tech Fee Revenue 4,215.41 4,215.41 Municipal Court Tech Fee Expenditures 2,245.00 - Net to Date 1,970.41 1,970.41 Municipal Court Security Fee Comparison Report Page 3 30 r~ p 2/21/2011 Year to Date Comparison M lbl January, 2011 Current Year Previous Year Net to Date Court Security Fee 3,091.59 3,091.59 Interest Earned 136.91 136.91 Municipal Court Security Fee Revenues 3,228.50 3,228.50 Municipal Court Security Fee Expenditures 2,511.29 - Net to Date 717.21 717.21 Municipal Court Child Safety Fee Child Safety Fee 370.03 370.03 Interest Earned 37.84 37.84 Municipal Court Child Safety Fee Revenues 407.87 407.87 Municipal Court Child Safety Fee Expenditures - - Net to Date 407.87 (407.87) Municipal Court Time Pay Fee Time Payment Fee 650.66 650.66 InterestEarned 11.93 11.93 Municipal Court Time Pay Fee Revenues 662.59 662.59 Municipal Court Time Pay Fee Expenditures - - Net to Date 662.59 662.59 Police Conf Fds-Gambling Interest Earned 10.52 10.52 Police Conf Fds-Gambling Revenue 10.52 10.52 Police Conf Fds-Gambling Expenditures - - Net to Date 10.52 10.52 Judicial Fofreiture Fee Judicial Forfeiture Fee 3,501.90 3,501.90 Interest Earned 22.29 22,29 Police Judicial Forfeiture 3,524.19 3,524.19 Police Judicial Forfeiture Expenditures 8,587.64 - 8,587.64 Net to Date (5,063.45) (5,063.45) Tax & Rev CO 2000 Const Fund Interest Earned 101.84 131.75 (29.91) Tax & Rev CO 2000 Const Fund Revenues 101.84 131.75 (29.91) Tax & Rev CO 2000 Const Fund Expenditures Net to Date 101.84 131.75 (29.91) CO Series 2002 Construction Fd Interest Earned 3.04 2.77 0.27 Comparison Report Page 4 3 n 2/21/2011 J Year to Date Comparison o l. lanuary, 2011 Current Year Previous Year Net to Date CO Series 2002 Construction Fd Revenues 3.04 2.77 0.27 CO Series 2002 Construction Fd Expenditures Net to Date 3.04 2.77 0.27 Revenue Bonds Sinking Funds Transfer to GO Refunding 2003 75,000.00 (75,000.00) Interest Earned 19,344.86 19,856.00 (511.14) Revenue Bonds Sinking Funds Revenues 19,344.86 94,856.00 (75,511.14) Revenue Bonds Sinking Funds Expenditures 2,757,872.52 (2,757,872.52) Net to Date 19,344.86 (2,663,016.52) 2,682,361.38 Tax & Rev CO 20101&5 Tx & Rev CO 2010 I&S 122,846.00 122,846.00 Interest Earned 0.63 - 0.63 2010 GO/W&S Refunding Bonds Revenues 122,846.63 - 122,846.63 2010 GO/W&S Refunding Bonds Expenditures 77,322.75 77,322.75 Net to Date 45,523.88 - 45,523.88 Tax & Rev CO 2000 I&S Fund Tax & Rev COs 2000 I&S 451,629.34 (451,629.34) Interest Earned 188.14 (188.14) Tax & Rev CO 2000 I&S Fund Revenues - 451,817.48 (451,817.48) Tax & Rev CO 2000 I&S Fund Expenditures 395,724.38 (395,724.38) Net to Date - 56,093.10 (56,093.10) Tax & Rev CO 2002 I&5 Fund Tax & Rev COs 2002 I&5 244,212.86 399,481.20 (155,268.34) Interest Earned 383.38 383.38 Tax & Rev CO 2002 I&S Fund Revenues 244,596.24 399,481.20 (154,884.96) Tax & Rev CO 2002 I&S Fund Expenditures 357,336.25 352,436.25 4,900.00 Net to Date (112,740.01) 47,044.95 (159,784.96) 2003 GO Refunding Bonds Cert. Of Oblig. 2003 I&S 175,311.28 353,234.31 (177,923.03) Interest Earned 614.94 156.88 458.06 2003 GO Refunding Bonds Revenues 175,926.22 353,391.19 (177,464.97) 2003 GO Refunding Bonds Expenditures 772,432.50 379,325.00 393,107.50 Net to Date (596,506.28) (25,933.81) (570,572.47) 2010 GO/W&S Refunding Bonds Cert. Of Oblig. 2010 I&5 236,618.16 236,618.16 Interest Earned 846.96 846.96 Comparison Report Page 5 40 2/21/2011 Year to Date Comparison rom. January, 2011 Current Year Previous Year Net to Date 2010 GO/W&S Refunding Bonds Revenues 237,465.12 - 237,465.12 2010 GO/W&S Refunding Bonds Expenditures 1,865,971.88 - 1,865,971.88 Net to Date (1,628,506.76) - (1,628,506.76) Library Memorial Fund Interest Earned 88.57 77.03 11.54 Memorial Donations 1,085.75 1,480.00 (394.25) Library Memorial Fund Revenues 1,174.32 1,557.03 (382.71) Library Memorial Fund Expenditures 964.89 1,373.88 (408.99) Net to Date 209.43 183.15 26.28 Library Expendable Fund Interest Earned 194.32 175.13 19.19 Donations 1,228.77 1,228.77 Library Expendable Fund Revenues 1,423.09 175.13 1,247.96 LibraryExpendable Fund Expenditures _ Net to Date 1,423.09 175.13 1,247.96 Library Permanent Fund Interest Earned 0.70 0.65 0.05 Donations Library Permanent Fund Revenues 0.70 0.65 0.05 Library Permanent Fund Expenditures Net to Date 0.70 0.65 0.05 Comparison Report Page 6 `t 1 A i 2/21/2011 L f0 E E 7 N N L 7 a+ ca ~ N Q X W O N Ln M O 00 ~t M Q1 N 00 O u1 Q1 M N 00 N I~ .-i M l0 O 01 1~ l0 00 N I~ O N M 00 l!1 1l .--1 I, O l0 01 .--1 ~ N L/1 .--1 01 0 1-1 V N 1. 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