07 - JULY 2015 FINANCIAL REPORTItem No. 7
memorandum
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: JULY 2015 FINANCIAL REPORT
DATE: August 17, 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
July 2015 Financial Report Comments
Net to Date Comparison of Revenues:
1. The operations and maintenance property tax and related collections are 3.76% more than this
time last year. The current tax roll is 96.13% collected vs. 97.25% last year.
2. Sales taxes are up 22.22% over last year due to a one time 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 5.70 %.
3. Hotel occupancy taxes are up 8.38% from last year. All hotels are current on their taxes.
4. Franchise fees are down 0.35% which is only $9,547.
5. Permit fees are up 117.64% compared to last year with the issuance of permits for Paris Lakes.
6. Municipal Court fines are 11.62% 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 12.74 %.
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. The bulk of this year's
increase comes from reimbursement of ice storm expenses.
11. Recreation fees are down 5.37 %.
12. Total General Fund revenues are 10.97% above last year. This increase is primarily due to
increases in sales tax (including the state audit adjustment discussed above), current taxes, ice
storm reimbursements, and EMS fees. Year to date receipts are 95.47% of the budget with the
City being 83.33% through the budget year.
13. Total General Fund expenditures are down 1.05% compared to last year. General Fund
expenditures to date equal 83.16% of budget with the City being 83.33% through the budget
year.
14. Sewer revenue is up 2.84% compared to last year.
15. Water revenue is down 1.66% compared to last year.
16. Total Water & Sewer revenues are 0.51% above last year and equal s 80.55% of budget which is
below the 83.33% budget to date percentage.
17. Total Water & Sewer expenses are 1.74% below last year at this point in time and represent
54.81% of the total budget (67.80% adjusted for debt) while the City is 83.33% through the
budget year.
Departmental Expenditure Summary:
At this point the City is nine months or 83.33% 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 83.33% at this time.
1. City Council- 85.94%. The overage amounts to $1,952 and is due to public notices, membership
dues, online connectivity for iPads, and work authorized by the Council to solve some
downtown electrical line problems.
2. Police- 85.79%. The overage amounts to $138,866 and is due to unemployment benefits,
postage, tires, pound supplies, other supplies, insurance, the emergency notification service,
publications, contract services, utilities, maintenance agreements, and building maintenance.
3. Fire - 87.11%. The overage amounts to $163,013 and is due to overtime, bunker gear, insurance,
building & equipment maintenance, overtime, utilities, and demolition costs.
4. Public Works- 99.93%. The overage amounts to $27,214 and is due to an error in payroll
budgeting, office supplies, phone expense, publications, building maintenance, and insurance
payments.
5. EMS - 91.51%. The overage amounts to $184,610 and is due to overtime, building & equipment
maintenance, office supplies, postage, utilities, ambulance purchase, and medical supplies.
6. Paris Band - 84.91 %. The overage amounts to $364. With the seasonal nature of band expenses,
this department should come in under budget for the year.
7. Library - 85.07 %. The overage amounts to $11,794 and is due to insurance, postage, technical
processing, media, and utilities.
8. General Expenses - 83.53 %. The overage amounts to $3,180 which is an immaterial amount in its
$1,566,897 budget.
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.
2. 1 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 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
j July, 2015
Current
Year
Previous
Year
Net to
Date
General Fund
Taxes Collected
6,074,472.27
5,854,128.82
220,343.45
Sales Tax
61453,887.84
5,280,184.43
1,173,703.41
Hotel -Motel Tax
590,948.48
545,221.74
45,726.74
Franchise Fees
2,678,808.77
2,688,356.56
(9,547.79)
Permits
200,976.88
92,339.75
108,637.13
Court Fines
272,626.35
308,485.72
(35,859.37)
Leases & Interest
113,430.96
178,104.67
(64,673.71)
Fees & Copies
8,672.72
8,032.16
640.56
Streets & Highways
Sanitation Fees
26,472.83
1,217,566.67
0.00
1,217,096.61
26,472.83
470.06
EMS Fees
2,000,455.41
1,774,260.06
226,195.35
Mixed Beverage Tax
54,323.14
53,828.98
494.16
Miscellaneous Fees
610,172.80
203,374.77
406,798.03
Water & Sewer Transfer
729,166.60
729,166.60
0.00
Recreation Programs
128,421.13
135,717.70
(7,296.57)
General Fund Total Revenues
21,160,402.85
19,068,298.57
2,092,104.28
General Fund Total Expenditures
18,391,109.69
18,587,707.94
(196,598.25)
Net to Date
2,769,293.16
480,590.63
2,288,702.53
PEDC Fund
Sales Tax
1,290,777.52
1,056,036.84
234,740.68
Interest Earned
1,462.44
56,214.75
(54,752.31)
Miscellaneous Revenue
0.00
0.00
PEDC Fund Total Revenues
1,292,239.96
1,112,251.59
179,988.37
PEDC Fund Total Expenditures
195,281.29
2,735,200.58
(2,539,919.29)
Net to Date
1,096,958.67
(1,622,948.99)
2,719,907.66
Water &Sewer Fund
Sewer
4,613,365.60
4,4851705.68
127,659.92
Water
6,403,934.76
6,512,121.05
(108,186.29)
Interest Earned
30,412.82
18,817.50
11,595.32
Miscellaneous
378,385.95
350,786.11
27,599.84
W &S Fund Total Revenues
11,426,099.13
11,367,430.34
58,668.79
W &S Fund Total Expenditures
7,769,800.89
7,907,697.56
(137,896.67)
Net to Date
3,656,298.24
3,459,732.78
196,565.46
Comparison Report Page 1 8/17/2015
Year to Date Comparison
' July, 2015
Current
Year
Previous
Year
Net to
Date
Capital Projects Fund
Interest Earned
1,447.74
979.20
468.54
Auction Proceeds
0.00
Sell of Airport Property
90,100.00
0.00
90,100.00
Capital Projects Fund Revenues
91,547.74
979.20
90,568.54
Capital Projects Fund Expenditures
150,844.97
177,543.41
(26,698.44)
Net to Date
(149,397.23)
(176,564.21)
27,166.98
Equipment Replacement Fund
Interest Earned
497.67
550.88
(53.21)
Auction Proceeds
0.00
500.00
(500.00)
Equipment Replacement Fund Revenues
497.67
1,050.88
(553.21)
Equipment Replacement Fund Expenditures
10,979.78
222,077.31
(211,097.53)
Net to Date
(10,482.11)
(221,026.43)
210,544.32
CO 2010 Construction Fund
Interest Earned
3,619.21
2,177.70
1,441.51
Repayments From Other Funds
CO 2010 Construction Fund Revenues
3,619.21
2,177.70
1,441.51
CO 2010 Construction Fund Expenditures
6,976.06
0.00
6,976.06
Net to Date
(3,356.85)
2,177.70
(5,534.55)
TWDB Loan Fund
Bond Proceeds
286,531.46
1,9751114.81
(1,688,583.35)
Interest Earned
10.88
0.00
10.88
TWDB LoanFund Revenues
286,542.34
1,975,114.81
(1,688,583.35)
TWDB Loan Fund Expenditures
213,935.58
1,912,076.15
(1,698,140.57)
Net to Date
72,606.76
63,038.66
9,568.10
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
107.51
76.72
30.79
Donations
1,980.00
275.00
Child Safety Fund Revenues
Child Safety Fund Expenditures
2,087.51
4,110.96
351.72
4,144.31
1,735.79
(33.35)
Net to Date
(2,023.45)
(3,792.59)
1,769.14
Comparison Report Page 2 8/17/2015
Year to Date Comparison
July, 2015
.Mtl—
Current
Year
Previous
Year
Net to
Date
Health Department
Interest Earned
21.83
69.80
(47.97)
Fees & Grants
0.00
638,888.15
(638,888.15)
Miscellaneous Revenue
0.00
Health Department Fund Revenues
21.83
638,957.95
(638,936.12)
Health Department Fund Expenditures
0.00
754,647.24
(754,647.24)
Net to Date
21.83
(115,689.29)
115,711.12
PEG Channel Fund
Interest Earned
469.67
543.11
(73.44)
PEG Franchise Fee
57,775.53
30,183.68
PEG Channel Fund Revenues
58,245.20
30,726.79
27,518.41
PEG ChannelFund Expenditures
0.00
0.00
0.00
Net to Date
58,245.20
30,726.79
27,518.41
Grant Fund
Grants
853,007.32
397,498.77
455,508.55
Interest Earned
28.69
84.52
(55.83)
Grant Fund Revenues
853,036.01
397,583.29
455,452.72
Grant Fund Expenditures
585,310.95
779,154.57
(193,843.62)
Net to Date
267,725.06
(381,571.28)
649,296.34
Water Contract Fund
Interest Earned
9,901.11
12,415.83
(2,514.72)
Deposits Billed
(316.68)
(318.75)
2.07
Water Contract Fund Revenue
9,584.43
12,097.08
(2,512.65)
Water Contract Fund Expenditures
Net to Date
9,584.43
12,097.08
(2,512.65)
Community Development Block Grant
Interest Earned and Fees
4,377.40
6,964.46
(2,587.06)
Grants
0.00
0.00
0.00
Community Dvl Block Grant Fd Revenues
4,377.40
6,964.46
(2,587.06)
Community Dvl Block Grant Fd Expenditures
0.00
0.00
Net to Date
4,377.40
6,964.46
(2,587.06)
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 8/17/2015
Year to Date Comparison
j July, 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
9,369.57
10,825.02
(1,455.45)
Interest Earned
184.53
95.16
89.37
Municipal Court Tech Fee Revenue
9,554.10
10,920.18
(1,366.08)
Municipal Court Tech Fee Expenditures
1,580.46
1,568.76
11.70
Net to Date
7,973.64
9,351.42
(1,377.78)
Municipal Court Security Fee
Court Security Fee
7,038.48
8,155.28
(1,116.80)
Interest Earned
248.64
154.62
Municipal Court Security Fee Revenues
7,287.12
8,309.90
(1,022.78)
Municipal Court Security Fee Expenditures
6,851.67
11,084.59
(4,232.92)
Net to Date
435.45
(2,774.69)
3,210.14
Municipal Court Child Safety Fee
Child Safety Fee
1,041.39
1,467.97
(426.58)
Interest Earned
57.38
46.64
Municipal Court Child Safety Fee Revenues
1,098.77
1,514.61
(415.84)
Municipal Court Child Safety Fee Expenditures
0.00
0.00
Net to Date
1,098.77
1,514.61
(415.84)
Municipal Court Time Pay Fee
Time Payment Fee
1,669.96
1,893.91
(223.95)
Interest Earned
52.15
27.97
Municipal Court Time Pay Fee Revenues
1,722.11
1,921.88
(199.77)
Municipal Court Time Pay Fee Expenditures
71.00
11284.80
(1,213.80)
Net to Date
1,651.11
637.08
1,014.03
Police Conf Fds- Gambling
Conf Funds - Gambling
Interest Earned
18.63
11.20
7.43
Police Conf Fds - Gambling Revenues
18.63
11.20
7.43
Police Conf Fds- Gambling Expenditures
0.00
0.00
0.00
Net to Date
18.63
11.20
7.43
Comparison Report Page 4 8/17/2015
Year to Date Comparison
7 July, 2015
Current
Year
Previous
Year
Net to
Date
Judicial Fofreiture Fee
Judicial Forfeiture Fee
20,757.59
6,164.14
14,593.45
Interest Earned
69.88
12.80
57.08
Police Judicial Forfeiture Revenues
20,827.47
6,176.94
14,650.53
Police Judicial Forfeiture Expenditures
4,354.12
7,312.97
(2,958.85)
Net to Date
16,473.35
(1,136.03)
17,609.38
GO Bonds 2013 Construction
Interest Earned
108,858.85
0.10
108,858.75
GO Bonds 2013 Construction Fund Revenues
108,858.85
0.10
108,858.75
Tax & Rev CO 2000 Const Fund Expenditures
0.00
0.00
Net to Date
108,858.85
0.10
108,858.75
Tax & Rev CO 2000 Const Fund
Interest Earned
0.16
0.16
Tax & Rev CO 2000 Const Fund Revenues
0.16
0.00
0.16
Tax & Rev CO 2000 Const Fund Expenditures
0.00
0.00
0.00
Net to Date
0.16
0.00
0.16
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
108,858.85
119,520.23
(10,661.38)
Bond Proceeds
0.00
GO Bonds 2013 Construction Fund Revenues
108,858.85
119,520.23
(10,661.38)
GO Bonds 2013 Construction Fund Expenditures
Net to Date
108,858.85
119,520.23
(10,661.38)
Revenue Bonds Sinking Funds
Interest Earned
36,415.03
35,951.59
463.44
Revenue Bonds Sinking Funds Revenues
36,415.03
35,951.59
463.44
Revenue Bonds Sinking Funds Expenditures
0.00
Net to Date
36,415.03
35,951.59
463.44
Tax & Rev CO's 2013 TWDB I &S Fund
Tax & Rev CO's 2013 TWDB I &S Fund
Interest Earned
337.85
564.64
(226.79)
Comparison Report Page 5 8/17/2015
Year to Date Comparison
7.
July, 2015
Current
Year
Previous
Year
Net to
Date
Tax & Rev CO's 2013 TWDB I &S Revenues
337.85
564.64
(226.79)
Tax & Rev CO's 2013 TWDB I &S Expenditures
171,546.50
171,546.50
0.00
Net to Date 1
(171,208.65)
(170,981.86)
(226.79)
Comparison Report Page 6 8/17/2015
Year to Date Comparison
' July, 2015
Current
Year
Previous
Year
Net to
Date
2012 GO Ref Bonds I & S
2012 GO Ref Bonds I & 5
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
210,259.73
220,856.40
(10,596.67)
Interest Earned
379.19
232.63
146.56
Tax & Rev CO 2010 Refunding Bonds Revenues
210,638.92
221,089.03
(10,450.11)
Tax & Rev CO 2010 Refunding Bonds Expenditures
211,185.01
210,403.76
781.25
Net to Date
(546.09)
10,685.27
(11,231.36)
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
Interest Earned
448,681.77
2,435.90
467,695.84
3,072.62
(19,014.07)
(636.72)
2010 GO /W &S Refunding Bonds Revenues
451,117.67
470,768.46
(19,650.79)
2010 GO /W &S Refunding Bonds Expenditures
Net to Date
1,629,906.26
(1,178,788.59)
1,632,431.26
(1,161,662.80)
(2,525.00)
(17,125.79)
Comparison Report Page 7 8/17/2015
Year to Date Comparison
7 ' July, 2015
Current
Year
Previous
Year
Net to
Date
2012 GO Ref Bonds I & S
2012 GO Ref Bonds I & S
647,883.27
826,587.43
(178,704.16)
Interest Earned
2,666.86
1,363.23
1,303.63
2012 GO Ref Bonds I & S Revenues
650,550.13
827,950.66
(177,400.53)
2012 GO Ref Bonds I & S Expenditures
Net to Date
650,550.13
827,950.66
(177,400.53)
Interlocal Coop Agreement I &S
Interlocal Coop Agreement I &S
102,772.39
108,804.19
(6,031.80)
Interest Earned
110.80
75.89
34.91
Interlocal Coop Agreement I &S Revenues
102,883.19
108,880.08
(5,996.89)
Interlocal Coop Agreement I &S Expenditures
Net to Date
102,883.19
108,880.08
(5,996.89)
GO Bonds 2013 1 & S
GO Bds 2013 Property Taxes
0.00
0.00
0.00
Interest Earned
7,076.72
616.36
6,460.36
GO Bonds 20131 & S Revenues
7,076.72
616.36
6,460.36
GO Bonds 20131 & S Expenditures
Net to Date
7,076.72
616.36
6,460.36
Tax & Rev CO 2002 I &S Fund
Tax & Rev COs 2002 I &S
0.00
0.00
Interest Earned
959.65
(959.65)
Transfer from fund 42
(399,906.96)
Tax & Rev CO 2002 I &S Fund Revenues
0.00
(398,947.31)
398,947.31
Tax & Rev CO 2002 I &S Fund Expenditures
0.00
0.00
0.00
Net to Date
0.00
(398,947.31)
398,947.31
2003 GO Refunding Bonds
Cert. Of Oblig. 2003 I &S
0.00
0.00
0.00
Interest Earned
0.00
1,384.47
0.00
2003 GO Refunding Bonds Revenues
0.00
1,384.47
(1,384.47)
2003 GO Refunding Bonds Expenditures
0.00
0.00
0.00
Net to Date
0.00
1,384.47
(1,384.47)
Library Memorial Fund
Interest Earned
98.23
90.26
Memorial Donations
3,382.06
2,694.63
687.43
Library Memorial Fund Revenues
3,480.29
2,784.89
695.40
Library Memorial Fund Expenditures
2,649.68
9,349.81 1
(6,700.13)
Comparison Report Page 8 8/17/2015
Year to Date Comparison
July, 2015
.ash
Current
Year
Previous
Year
Net to
Date
Net to Date
830.61
(6,564.92)
7,395.53
Library Expendable Fund
Interest Earned
338.77
205.41
133.36
Donations
0.00
0.00
0.00
Library Expendable Fund Revenues
338.77
205.41
133.36
LibraryExpendable Fund Expenditures
0.00
Net to Date
338.77
205.41
133.36
Library Permanent Fund
Interest Earned
227.25
0.74
226.51
Donations
Library Permanent Fund Revenues
227.25
0.74
226.51
Library Permanent Fund Expenditures
0.00
0.00
0.00
Net to Date
227.25
0.74
1 226.51
Comparison Report Page 9 8/17/2015
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