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Finance director: March revenues mixed, reserves likely to fall to about 206 days if trends continue
Summary
Finance Director Steve Marriott told the council that March showed front-loaded property-tax receipts but declines in hotel-occupancy tax, ambulance billings and building-permit revenue; he said the city currently has reserves covering about 269 days but anticipates that could fall to roughly 206 days by year end.
Finance Director Steve Marriott presented the March financial report to the Paris City Council on April 27, flagging revenue variances and a possible decline in reserve days if trends persist.
Marriott said general-fund year-to-date revenues were about 61 percent of budget, noting property taxes are front-loaded and were 91.7 percent of budget at March 31. "On March 31, property tax and tax collections were 91.7 of the budget," Marriott said. Sales-tax collections were 53.8 percent of budget year to date, with the presenter cautioning that the most recent three months trailed the prior year and could signal a trend.
Marriott…
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