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07 - RECEIVE APRIL MONTHLY FINANCIAL REPORTItem No. 7 memorandum TO: City Council John Godwin, City Manager FROM: Gene Anderson, Finance Director SUBJECT: APRIL 2015 FINANCIAL REPORT DATE: May 7, 2015 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 all receipts and disbursements. The attached report satisfies that requirement. 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 April 2015 Financial Report Comments Net to Date Comparison of Revenues: 1. The operations and maintenance property tax and related collections are 3.18% more than this time last year. The current tax roll is 94.81% collected vs. 96.11% last year. 2. Sales taxes are up 30.90% over last year due to a onetime state audit adjustment. The adjustment added an extra $872,390 to the General Fund and $174,478 to PEDC. Without the audit adjustment, sales taxes for the year would be up compared to last year by 6.95 %. 3. Hotel occupancy taxes are up 5.58% from last year. All hotels are current on their taxes. 4. Franchise fees are up 5.44 %. 5. Permit fees are up 34.05% compared to last year. This amounts to $18,076. 6. Municipal Court fines are 9.40% below last year's collections. 7. Leases & Interest cash flows vary from year to year primarily due to investment maturity dates making it difficult to compare the current and previous year. 8. The Streets & Highways increase was a bookkeeping entry to add some old street assessments to the general ledger. 9. EMS fees are up 14.33 %. 10. 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. 11. Recreation fees are up $6,548 or 13.90 %. 12. Total General Fund revenues are 11.27% above last year. This increase is primarily due to increases in sales tax (including the state audit adjustment discussed above), current taxes, and EMS fees. Year to date receipts are 74.10% of the budget with the City being 50.00% through the budget year. 13. Total General Fund expenditures are down 3.87% compared to last year. General Fund expenditures to date equal 49.26% of budget with the City being 58.33% through the budget year. 14. Sewer revenue is up 2.54% compared to last year. 15. Water revenue is down 1.45% compared to last year due in large part to the mild weather in September and October. 16. Total Water & Sewer revenues are 0.37% above last year and equal 56.25% of budget which is below the 58.33% budget to date percentage. 17. Total Water & Sewer expenses are 0.46% above last year at this point in time and represent 38.24% of the total budget (41.80% adjusted for debt) 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 eight departments whose expenditures are over 58.33% at this time. 1. City Council- 62.60%. The overage amounts to $3,191 and is due to work authorized by the Council to solve some downtown electrical line problems. Work performed by Oncor. 2. Police- 59.47%. The overage amounts to $64,260 and is due to the annual insurance payment, the emergency notification service, building maintenance, and the purchase of vehicles. 3. Fire - 58.94%. The overage amounts to $26,157 and is due to the annual insurance payment, building & equipment maintenance, overtime, training, and contract services. 4. Public Works- 69.71%. The overage amounts to $18,659 and is due to building maintenance and insurance payments. EMS - 59.16%. The overage amounts to $18,631 and is due to overtime, equipment maintenance, medical supplies, and the annual insurance payment. 6. Cox Field- 68.01%. The overage amounts to $11,105 and is due to the annual insurance payment, electricity, and the TxDot grant match. 7. Library - 58.73%. The overage amounts to $2,727 and is due to the annual insurance payment, postage, and utilities. 8. General Expenses- 59.31%. The overage amounts to $15,375 and is due to the purchase of equipment and the annual payments to the non - profit agencies. General comments to the City Council: 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 Paris Economic Development Corporation is reflected in the monthly report. This is a result of the City performing the bookkeeping functions for this agency. PEDC has its own managing board. Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date General Fund Taxes Collected 5,952,170.70 5,768,237.56 183,933.14 Sales Tax 4,768,403.95 3,642,663.34 1,125,740.61 Hotel -Motel Tax 426,321.55 403,777.14 22,544.41 Franchise Fees 1,827,024.69 1,732,738.22 94,286.47 Permits 71,164.50 53,087.68 18,076.82 Court Fines 210,083.03 231,894.61 (21,811.58) Leases & Interest 65,682.62 96,704.11 (31,021.49) Fees & Copies 6,450.40 6,057.16 393.24 Streets & Highways 26,472.83 0.00 26,472.83 Sanitation Fees 851,876.07 851,881.47 (5.40) EMS Fees 1,391,634.47 1,217,196.05 174,438.42 Mixed Beverage Tax 40,929.01 40,116.60 812.41 Miscellaneous Fees 222,639.56 158,389.61 64,249.95 Water & Sewer Transfer 510,416.62 510,416.62 0.00 Recreation Programs 53,663.25 47,114.30 6,548.95 General Fund Total Revenues 16,424,933.25 14,760,274.47 1,664,658.78 General Fund Total Expenditures 12,597,127.90 12,968,488.43 (371,360.53) Net to Date 3,827,805.35 1,791,786.04 2,036,019.31 PEDC Fund Sales Tax 953,680.77 728,532.64 225,148.13 Interest Earned 753.32 39,572.30 (38,818.98) Miscellaneous Revenue 0.00 0.00 PEDC Fund Total Revenues 954,434.09 768,104.94 186,329.15 PEDC Fund Total Expenditures 163,154.34 2,000,836.61 (1,837,682.27) Net to Date 791,279.75 (1,232,731.67) 2,024,011.42 Water & Sewer Fund Sewer 3,235,612.82 3,155,413.30 80,199.52 Water 4,466,540.84 4,532,449.84 (65,909.00) Interest Earned 18,204.20 14,748.31 3,455.89 Miscellaneous 259,536.09 247,248.78 12,287.31 W &S Fund Total Revenues 7,979,893.95 7,949,860.23 30,033.72 W &S Fund Total Expenditures 5,420,831.78 5,395,729.87 25,101.91 Net to Date 2,559,062.17 2,554,130.36 4,931.81 Comparison Report Page 1 5/5/2015 Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date Capital Projects Fund Interest Earned 891.35 768.56 122.79 Auction Proceeds Capital Projects Fund Revenues 891.35 768.56 122.79 Capital Projects Fund Expenditures 146,339.84 119,739.04 26,600.80 Net to Date (145,448.49) (118,970.48) (26,478.01) Equipment Replacement Fund Interest Earned 381.90 450.97 (69.07) Auction Proceeds 0.00 500.00 (500.00) Equipment Replacement Fund Revenues 381.90 950.97 (569.07) Equipment Replacement Fund Expenditures 10,979.78 222,077.31 (211,097.53) Net to Date (10,597.88) (221,126.34) 210,528.46 CO 2010 Construction Fund Interest Earned 2,146.41 1,649.73 496.68 Repayments From Other Funds CO 2010 Construction Fund Revenues 2,146.41 1,649.73 496.68 CO 2010 Construction Fund Expenditures 0.00 0.00 0.00 Net to Date 2,146.41 1,649.73 496.68 TWDB Loan Fund Bond Proceeds 238,163.80 1,826,720.18 (1,588,556.38) Interest Earned TWDB LoanFund Revenues 238,163.80 1,826,720.18 (1,588,556.38) TWDB Loan Fund Expenditures 205,753.00 1,544,633.26 (1,338,880.26) Net to Date 32,410.80 282,086.92 (249,676.12) Special Revenue Fund Interest Earned 0.00 0.00 Special Revenue Fund Revenues 0.00 0.00 Special Revenue Fund Expenditures 0.00 0.00 0.00 Net to Date 0.00 0.00 0.00 Child Safety Fund Interest Earned 65.26 58.34 6.92 Donations 1,980.00 275.00 Child Safety Fund Revenues 2,045.26 333.34 1,711.92 Child Safety Fund Expenditures 4,239.98 (647.08) 4,887.06 Net to Date (2,194.72) 980.42 (3,175.14) Comparison Report Page 2 5/5/2015 Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date Health Department Interest Earned 0.00 69.80 (69.80) Fees & Grants 0.00 638,888.15 (638,888.15) Miscellaneous Revenue 0.00 Health Department Fund Revenues 0.00 638,957.95 (638,957.95) Health Department Fund Expenditures 0.00 753,844.36 (753,844.36) Net to Date 0.00 (114,886.41) 114,886.41 PEG Channel Fund Interest Earned 246.58 406.33 (159.75) PEG Franchise Fee 43,916.17 14,623.13 PEG Channel Fund Revenues 44,162.75 15,029.46 29,133.29 PEG ChannelFund Expenditures 0.00 0.00 0.00 Net to Date 44,162.75 15,029.46 29,133.29 Grant Fund Grants 597,215.45 291,529.51 305,685.94 Interest Earned 0.00 79.21 (79.21) Grant Fund Revenues 597,215.45 291,608.72 305,606.73 Grant Fund Expenditures 465,660.98 339,911.12 125,749.86 Net to Date 131,554.47 (48,302.40) 179,856.87 Water Contract Fund Interest Earned 7,520.03 8,633.82 (1,113.79) Deposits Billed (266.68) (343.75) 77.07 Water Contract Fund Revenue 7,253.35 8,290.07 (1,036.72) Water Contract Fund Expenditures Net to Date 7,253.35 8,290.07 (1,036.72) Community Development Block Grant Interest Earned and Fees 2,914.33 5,285.59 (2,371.26) Grants 0.00 0.00 0.00 Community Dvl Block Grant Fd Revenues 2,914.33 5,285.59 (2,371.26) Community Dvl Block Grant Fd Expenditures 0.00 0.00 Net to Date 2,914.33 5,285.59 (2,371.26) Home Buyers Assistance 2009 Grants Home Buyers Assistance 2009 Revenues 0.00 0.00 0.00 Home Buyers Assistance 2009 Expenditures 0.00 0.00 Net to Date 0.00 0.00 0.00 Comparison Report Page 3 5/5/2015 Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date Texas Department of Community Affairs Interest Earned 3.57 2.40 1.17 OCC Payments 387,199.20 0.00 387,199.20 TX Dept of Community Affairs Revenues 387,202.77 2.40 387,200.37 TX Dept of Community Affairs Expenditures 393,484.04 5,199.00 388,285.04 Net to Date 6,281.27 5,196.60 1,084.67 Municipal Court Tech Fee Municipal Court Tech Fee 6,937.39 7,953.46 (1,016.07) Interest Earned 105.29 69.92 35.37 Municipal Court Tech Fee Revenue 7,042.68 8,023.38 (980.70) Municipal Court Tech Fee Expenditures 1,543.09 1,419.96 123.13 Net to Date 5,499.59 6,603.42 (1,103.83) Municipal Court Security Fee Court Security Fee 5,214.46 5,993.33 (778.87) Interest Earned 146.65 116.48 Municipal Court Security Fee Revenues 5,361.11 6,109.81 (748.70) Municipal Court Security Fee Expenditures 3,549.57 4,063.81 (514.24) Net to Date 1,811.54 2,046.00 (234.46) Municipal Court Child Safety Fee Child Safety Fee 888.09 1,216.33 (328.24) Interest Earned 35.12 35.04 Municipal Court Child Safety Fee Revenues 923.21 1,251.37 (328.16) Municipal Court Child Safety Fee Expenditures 0.00 0.00 Net to Date 923.21 1,251.37 (328.16) Municipal Court Time Pay Fee Time Payment Fee 1,344.74 1,439.90 (95.16) Interest Earned 30.22 21.05 Municipal Court Time Pay Fee Revenues 1,374.96 1,460.95 (85.99) Municipal Court Time Pay Fee Expenditures 0.00 699.40 (699.40) Net to Date 1,374.96 761.55 613.41 Police Conf Fds- Gambling Conf Funds - Gambling Interest Earned 11.03 8.48 2.55 Police Conf Fds - Gambling Revenues 11.03 8.48 2.55 Police Conf Fds - Gambling Expenditures 0.00 0.00 0.00 Net to Date 11.03 8.48 2.55 Comparison Report Page 4 5/5/2015 Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date Judicial Fofreiture Fee Judicial Forfeiture Fee 5,003.40 1,324.88 3,678.52 Interest Earned 40.57 10.49 30.08 Police Judicial Forfeiture Revenues 5,043.97 1,335.37 3,708.60 Police Judicial Forfeiture Expenditures 4,370.37 7,312.97 (2,942.60) Net to Date 673.60 (5,977.60) 6,651.20 GO Bonds 2013 Construction Interest Earned 79,146.20 0.07 79,146.13 GO Bonds 2013 Construction Fund Revenues 79,146.20 0.07 79,146.13 Tax & Rev CO 2000 Const Fund Expenditures 0.00 0.00 Net to Date 79,146.20 0.07 79,146.13 Tax & Rev CO 2000 Const Fund Interest Earned 0.10 0.10 Tax & Rev CO 2000 Const Fund Revenues 0.10 0.00 0.10 Tax & Rev CO 2000 Const Fund Expenditures 0.00 0.00 0.00 Net to Date 0.10 0.00 0.10 CO Series 2002 Construction Fd Interest Earned CO Series 2002 Construction Fd Revenues 0.00 0.00 0.00 CO Series 2002 Construction Fd Expenditures 0.00 0.00 0.00 Net to Date 0.00 0.00 0.00 GO Bonds 2013 Construction Fund Interest Earned 79,146.20 60,946.89 18,199.31 Bond Proceeds 0.00 GO Bonds 2013 Construction Fund Revenues 79,146.20 60,946.89 18,199.31 GO Bonds 2013 Construction Fund Expenditures Net to Date 79,146.20 60,946.89 18,199.31 Revenue Bonds Sinking Funds Interest Earned 25,616.17 24,273.98 1,342.19 Revenue Bonds Sinking Funds Revenues 25,616.17 24,273.98 1,342.19 Revenue Bonds Sinking Funds Expenditures 0.00 Net to Date 25,616.17 24,273.98 1,342.19 Tax & Rev CO's 2013 TWDB I &S Fund Tax & Rev CO's 2013 TWDB I &S Fund Interest Earned 256.27 430.01 (173.74) Comparison Report Page 5 5/5/2015 Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date Tax & Rev CO's 2013 TWDB I &S Revenues 256.27 430.01 (173.74) Tax & Rev CO's 2013 TWDB I &S Expenditures 11,773.25 11,773.25 0.00 Net to Date (11,516.98) (11,343.24) (173.74) Comparison Report Page 6 5/5/2015 Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date 2012 GO Ref Bonds I & S 2012 GO Ref Bonds I & S Interest Earned 0.00 0.00 0.00 2012 GO Ref Bonds I &S Revenues 0.00 0.00 0.00 2012 GO Ref Bonds I &S Expenditures Net to Date 0.00 0.00 0.00 Tax & Rev CO 2010 I &S Tx & Rev CO 2010 I &S 206,987.20 218,293.42 (11,306.22) Interest Earned 227.46 159.11 68.35 Tax & Rev CO 2010 Refunding Bonds Revenues 207,214.66 218,452.53 (11,237.87) Tax & Rev CO 2010 Refunding Bonds Expenditures 164,545.63 161,608.13 2,937.50 Net to Date 42,669.03 56,844.40 (14,175.37) Tax & Rev CO 2002 I &S Fund Tax & Rev COs 2002 I &S 0.00 0.00 Interest Earned 0.00 0.00 0.00 Transfer from fund 42 0.00 0.00 Tax & Rev CO 2002 I &S Fund Revenues 0.00 0.00 0.00 Tax & Rev CO 2002 I &S Fund Expenditures 0.00 0.00 0.00 Net to Date 0.00 0.00 0.00 Cert of Oblig 2003 I &S Fund Interest Earned 0.00 0.00 0.00 Cert of Oblig 2003 I &S Fund Revenues 0.00 0.00 0.00 Cert of Oblig 2003 I &S Fund Expenditures 0.00 0.00 0.00 Net to Date 0.00 0.00 0.00 2010 GO /W &S Refunding Bonds Cert. Of Oblig. 2010 I &S 441,698.49 462,268.38 (20,569.89) Interest Earned 1,840.44 2,256.91 (416.47) 2010 GO /W &S Refunding Bonds Revenues 443,538.93 464,525.29 (20,986.36) 2010 GO /W &S Refunding Bonds Expenditures 493,609.38 497,071.88 (3,462.50) Net to Date (50,070.45) (32,546.59) (17,523.86) Comparison Report Page 7 5/5/2015 Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date 2012 GO Ref Bonds I & S 2012 GO Ref Bonds I & S 637,799.49 816,995.17 (179,195.68) Interest Earned 1,569.08 877.59 691.49 2012 GO Ref Bonds I & S Revenues 639,368.57 8171872.76 (178,504.19) 2012 GO Ref Bonds I & S Expenditures Net to Date 639,368.57 817,872.76 (178,504.19) Interlocal Coop Agreement I &S Interlocal Coop Agreement I &S 101,172.74 107,541.56 (6,368.82) Interest Earned 93.94 71.77 22.17 Interlocal Coop Agreement I &S Revenues 101,266.68 107,613.33 (6,346.65) Interlocal Coop Agreement I &S Expenditures Net to Date 101,266.68 107,613.33 (6,346.65) GO Bonds 20131 & S GO Bds 2013 Property Taxes 0.00 0.00 0.00 Interest Earned 4,076.68 120.69 3,955.99 GO Bonds 2013 1 & S Revenues 4,076.68 120.69 3,955.99 GO Bonds 2013 1 & S Expenditures Net to Date 4,076.68 120.69 3,955.99 Tax & Rev CO 2002 I &S Fund Tax & Rev COs 2002 I &S 0.00 0.00 Interest Earned 726.99 (726.99) Transfer from fund 42 0.00 Tax & Rev CO 2002 I &S Fund Revenues 0.00 726.99 (726.99) Tax & Rev CO 2002 I &S Fund Expenditures 0.00 0.00 0.00 Net to Date 0.00 726.99 (726.99) 2003 GO Refunding Bonds Cert. Of Oblig. 2003 I &S 0.00 0.00 0.00 Interest Earned 0.00 1,048.81 0.00 2003 GO Refunding Bonds Revenues 0.00 1,048.81 (1,048.81) 2003 GO Refunding Bonds Expenditures 0.00 0.00 0.00 Net to Date 0.00 1,048.81 (1,048.81) Library Memorial Fund Interest Earned 58.20 69.06 Memorial Donations 2,892.55 2,140.78 751.77 Library Memorial Fund Revenues 2,950.75 2,209.84 740.91 Library Memorial Fund Expenditures 2,427.39 7,015.23 (4,587.84) Comparison Report Page 8 5/5/2015 Year to Date Comparison 7. April, 2015 Current Year Previous Year Net to Date Net to Date 523.36 (4,805.39) 5,328.75 Library Expendable Fund Interest Earned 201.04 155.25 45.79 Donations 0.00 0.00 0.00 Library Expendable Fund Revenues 201.04 155.25 45.79 Libra ryExpendable Fund Expenditures 0.00 Net to Date 201.04 155.25 45.79 Library Permanent Fund Interest Earned 226.38 0.56 225.82 Donations Library Permanent Fund Revenues 226.38 0.56 225.82 Library Permanent Fund Expenditures 0.00 0.00 0.00 Net to Date 226.38 0.56 225.82 Comparison Report Page 9 5/5/2015 m H W L 3 C W a X W ~ V V n N N V N Ln m 00 ri LD N n -1 Lo w w M 00 O n M tD m-�T Ln Ln 00 M W V 01 Lb Ln ll� o0 O m M Ln N 01 N n Ct N n M n Ln tD M W M N 01 to N W O LT M M 00 LO N-zt 01 M O ri V .--1 ri M 00 n ri m N 00 . 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