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Governmental Funds
<br />Revenues, Expenditures, and
<br />Changes in Fund Balances
<br />2019 2020
<br />Revenues $ 29,142,435
<br />Expenditures 30,611,074
<br />Revenues Under/(Over) Expenditures (1,468,639)
<br />Total Other Financing Sources (Uses) (465,195)
<br />Net Change in Fund Balances (1,933,834)
<br />Fund Balances — Beginning 24,054,449
<br />Prior Period Adjustment (172,209)
<br />Fund Balances — Ending $ 21,948,406
<br />General Fund
<br />$ 34,259,642
<br />33.410.864
<br />848,778
<br />1,319,321
<br />2,168,099
<br />21,948,406
<br />939,994
<br />$ 25,056,499
<br />The General Fund is the chief operating fund of the City of Paris. At the end of the current fiscal year, unassigned
<br />fund balance of the general fund was $15,990,260 ($12,390,089 the previous year), while total fund balance reached
<br />$17,150,077 ($13,451,478 the previous year). The increase in the fund balance of the general fund was primarily
<br />due to increased cash/investments and receivables. As a measure of the general fund's liquidity, it may be useful to
<br />compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance
<br />represents 47.86% of total general fund expenditures, while total fund balance represents 51.33% of that same
<br />amount.
<br />During the year, the City also made budgeted transfers from the Water and Sewer Fund to the General Fund for
<br />administrative support and payment of franchise fees. Transfers were made from the Water and Sewer Fund to the
<br />Debt Service Fund to make debt service payments.
<br />Other governmental funds (nonmajor) include the Permanent and Expendable Library Funds, Special Revenue Fund,
<br />Grant Fund, and the Community Development Fund. Only the General Fund had unassigned fund balance at the end
<br />of the year.
<br />Budget Analysis
<br />The City of Paris adopts an annual appropriated budget for its general fund. A budgetary comparison statement has
<br />been provided as Statement 6 in this report to demonstrate compliance with this budget.
<br />The final appropriation of the general fund was overspent by $4,055,949 ($1,035,895 overspent the previous year).
<br />This 17.32% variance is mainly due to bad debt charge offs in the EMS and Police (Municipal Court) Departments.
<br />General Fund revenues were over budget by 17.64% or $4,491,429 ($1,663,881 last year). Higher than expected
<br />sales tax collections and increased billings by EMS and Municipal Court account for most of the increase.
<br />Capital Projects Fund
<br />The Capital Projects Fund is funded by the General Fund and/or the Proprietary Fund on an as needed basis or by
<br />debt issue authorized by the City Council. As Proprietary Fund projects are completed in the Capital Projects Fund,
<br />they are transferred back to the Proprietary Fund. The fund balance in the Capital Projects Fund was $3,836,182
<br />($6,178,988 last year). This reduction was due to the significant expenditure of existing cash on hand for various
<br />projects with the only offsetting revenue being interest income. Variances from year to year are common in this fund
<br />as projects are approved on a year to year basis by the City Council.
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