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PARIS ECONOMIC DEVELOPMENT CORPORATION
<br />(A Component Unit of the City of Paris, Texas)
<br />Governmental Funds Balance Sheet/Statement of Net. Position
<br />September 30, 2017
<br />Liabilities
<br />Accounts Payable
<br />$ -
<br />$ - $ .
<br />Total
<br />Total
<br />Accrued Liabilities
<br />7,514
<br />Debt Service
<br />Governmental
<br />Governmental
<br />Intergovernmental Payable
<br />General Fund
<br />'Fund
<br />Funds
<br />Adjustments* Activities
<br />Assets
<br />Cash and Cash Equivalents
<br />3,080,915
<br />$ -
<br />$ 3,080,915
<br />$ - $ 3,080,915
<br />Investments
<br />576,986
<br />-
<br />576,986
<br />576,986
<br />Taxes Receivable
<br />247,149
<br />-
<br />247,149
<br />- 247,149
<br />Restricted Assets,.
<br />7,514
<br />7,514
<br />(341,244)
<br />348,758
<br />Bond Debt Service Fund
<br />Investments
<br />-
<br />34,498
<br />34,498
<br />- 34,498
<br />Bond Reserve Fund
<br />1,942,5'21
<br />- 1,9'42,521
<br />1,942,521
<br />-
<br />Cash and Cash Equivalents
<br />-
<br />1,718
<br />1,718
<br />- 1,718
<br />Investments
<br />-
<br />376,336
<br />376,330
<br />- 376,330
<br />Land Development Costs
<br />1,942,521
<br />-
<br />1,942,521
<br />- 1,942,521
<br />Total Assets
<br />$ 5,847,571
<br />$ 412,546
<br />$ 6,2.60,117
<br />- 6,260,117
<br />Liabilities
<br />Accounts Payable
<br />$ -
<br />$ - $ .
<br />Accrued Liabilities
<br />7,514
<br />- 7,514
<br />-
<br />7,514
<br />Intergovernmental Payable
<br />Liabilities Payable from Restricted Assets
<br />Current Portion of Bonds Payable
<br />-
<br />- -
<br />(340,000)
<br />340,000
<br />Accrued. Interest Payable
<br />-
<br />(1,244)
<br />1,244
<br />Bonds Payable (Net of Current Portion)
<br />-
<br />Total Liabilities
<br />7,514
<br />7,514
<br />(341,244)
<br />348,758
<br />Fund I3alane'Net Positron
<br />Fund Balance:
<br />Nonspendable-Land' Development Costs
<br />1,942,5'21
<br />- 1,9'42,521
<br />1,942,521
<br />-
<br />Restricted for Debt Service
<br />-
<br />412,546 412,546
<br />412,546
<br />-
<br />Committed to Industrial Incentives
<br />877,400
<br />- 877,400
<br />877,400
<br />-
<br />Unassigned
<br />3,020,136
<br />- 3,020,136
<br />3,020,136
<br />-
<br />Total Fund Balance
<br />5,840,057
<br />412,546 6,252,603
<br />6,252,603
<br />-
<br />Total Liabilities and Fund Balance
<br />$ 5,.847,571
<br />412,546 $ 6,260',117
<br />Net Position:
<br />Restricted for Land Development Costs
<br />(1,942,521)
<br />1,942,521
<br />Restricted for Debt Service
<br />(71,302)
<br />71,302
<br />Restricted for Industrial Incentives
<br />(877,400,)
<br />877,400
<br />Unrestricted
<br />(3,.020„136)
<br />3,020,136
<br />Total Net Position
<br />$ (5,911,359)
<br />$ 5,911,359
<br />*Primarily long-term liabilities are not reported in the funds,
<br />The notes to financial statements are an integral part of this statement.
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