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Reasons forwSalient Changes from. the Previous,. Fiscal Year <br />So as not to repeat myself, please see Sections 45(7) and 45(8) below, which are combined in this Memorandum. <br />Changes in Financial Policy; <br />As of the writing of this Memorandum, I was unable to locate the previous Financial Policy, Therefore, at this <br />time I am unable to comment. This will not be the case next year. <br />City of Paris Charter — Article V — Section 45(2) <br />"A consolidated statement of receipts and expenditures for all funds. " <br />In situations above where you see a negative net (ex: Municipal Court Security Fee), this Fund has existing <br />carryover funding available that can also be used next year. So the Revenue line shows the new Revenue <br />raised, while the Expenditure line shows the possible expenditure of both new Revenue and previous years' <br />Revenue. In other cases, a positive net is shown when the City foresees more collection than expense, but <br />these are primarily in Special Funds which have very restricted and narrowly defined expense options. Finally, <br />the Operational Funds, among a few others, show a zero net meaning they are balanced, new revenue = <br />expense. <br />City of Paris Charter — Article V — Section 45(3) <br />"An analysis ofproperty valuations. " <br />Page 9 of 15 <br />