07 - SEPTEMBER 2015 FINANCIAL REPORTItem No. 7
memorandum
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: SEPTEMBER 2015 FINANCIAL REPORT
DATE: November 2, 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
September 2015 Financial Report Comments
Net to Date Comparison of Revenues:
1. The operations and maintenance property tax and related collections are 3.65% more than this
time last year. The current tax roll is 96.35% collected vs. 97.47% last year.
2. Sales taxes are up 18.83% 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 5.16 %.
3. Hotel occupancy taxes are up 8.07% from last year. All hotels are up to date on their current
period taxes. However, the audit conducted by MuniServices disclosed $22,567.56 in additional
tax liability for three hotels. $9,089.13 of that liability has been paid and $13,478.43 remains
due. A demand letter for payment has been sent to the relevant hotels. The hotel that owes the
bulk of the tax liability found by the auditors has requested the auditors review additional data
that they will provide. That review will be done in January 2016.
4. Franchise fees are down 1.34% with Oncor being lower than the previous year.
5. Permit fees are up 102.57% compared to last year with the issuance of permits for Paris Lakes.
6. Municipal Court fines are 14.13% 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 11.91 %.
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. Water & Sewer Transfers are not down but in the current year they have been netted against a
transfer to another fund.
12. Recreation fees are down 7.18 %.
13. Total General Fund revenues are 9.45% 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 107.52% of the budget with the
City being 100.00% through the budget year.
14. Total General Fund expenditures are down 2.05% compared to last year. General Fund
expenditures to date equal 97.50% of budget with the City being 100.00% through the budget
year.
15. Sewer revenue is up 3.30% compared to last year.
16. Water revenue is up 1.45% compared to last year.
17. Total Water & Sewer revenues are 2.40% above last year and equal s 100.35% of budget which
is above the 100.00% budget to date percentage.
18. Total Water & Sewer expenses are 0.67% below last year at year end and represent 95.91% of
the total budget while the City is 100.00% through the budget year.
Departmental Expenditure Summary:
At this point the City is twelve months or 100.00% through the budget year. Within the General and
Water & Sewer Funds there are four departments whose expenditures are over 100.00% for the year.
1. City Attorney - 100.26%. This overage was due to reducing the City Attorney's budget at year end
to help cover expenditures in other departments. This was not the fault of the City Attorney.
2. Parks /Rec /ROW - 100.23%. This overage was due to reducing the Parks' budget at year end to
help cover expenditures in other departments. This was not the fault of the Parks Department.
3. Water Production - 101.09%. This overage amounted to $28,705 and was due to work on the
filter beds.
4. Lift Stations - 102.14 %. This overage amounts to $8,986 and is due to electrical and maintenance
costs.
Year to Date Comparison
Sept. 2015
Current
Year
Previous
Year
Net to
Date
General Fund
Taxes Collected
6,132,317.67
5,916,157.42
216,160.25
Sales Tax
7,584,997.11
6,382,749.03
1,202,248.08
Hotel -Motel Tax
591,571.07
547,354.07
44,217.00
Franchise Fees
3,291,571.00
3,336,520.33
(44,949.33)
Permits
220,695.77
108,943.05
111,752.72
Court Fines
312,263.95
363,660.06
(51,396.11)
Leases & Interest
130,832.41
208,992.21
(78,159.80)
Fees & Copies
9,942.60
9,414.44
528.16
Streets & Highways
26,472.83
0.00
26,472.83
Sanitation Fees
1,463,140.30
1,462,584.42
555.88
EMS Fees
2,391,816.17
2,137,188.19
254,627.98
Mixed Beverage Tax
54,323.14
53,828.98
494.16
Miscellaneous Fees
621,602.54
202,477.59
419,124.95
Water & Sewer Transfer
844,722.78
874,999.92
(30,277.14)
Recreation Programs
156,747.27
168,873.85
(12,126.58)
General Fund Total Revenues
23,833,016.61
21,773,743.56
2,059,273.05
General Fund Total Expenditures
21,610,476.97
22,063,807.29
(453,330.32)
Net to Date
2,222,539.64
(290,063.73)
2,512,603.37
Water & Sewer Fund
Sewer
5,608,129.82
5,428,782.95
179,346.87
Water
8,146,928.15
8,030,430.93
116,497.22
Interest Earned
39,237.49
23,685.91
15,551.58
Miscellaneous
441,377.82
418,099.97
23,277.85
W &S Fund Total Revenues
14,235,673.28
13,900,999.76
334,673.52
W &S Fund Total Expenditures
13,595,905.93
13,864,134.85
(93,989.46)
Net to Date
639,767.35
36,864.91
602,902.44
Comparison Report Page 1 11/9/2015
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