|
Debt Service Fund
<br />The Debt Service Fund has a total fund balance of $1,766,863 ($1,727,065 the previous year), all of which is
<br />reserved for the payment of debt service. The net increase in fund balance during the current year in the debt service
<br />fund was $39,798 ($109,097 decrease the previous year). The government enacted a dedicated property tax for debt
<br />service at the beginning of the current fiscal year. This tax produced revenues of $1,892,804 in the current fiscal
<br />year ($1,769,743 the previous year).
<br />Proprietary Fund
<br />The City of Paris' Proprietary Fund provides the same type of information found in the government -wide financial
<br />statements, but in more detail.
<br />Unrestricted net position of the Water and Sewer Fund at the end of the year amounted to $14,923,230 ($16,431,945
<br />the previous year). Factors concerning the finances of this fund have already been addressed in the discussion of the
<br />City of Paris' business -type activities.
<br />Capital Asset and Debt Administration
<br />Capital Assets
<br />The City of Paris' investment in capital assets for its governmental and business -type activities as of September 30,
<br />2020 amounts to $108,048,134 ($103,524,557 the previous year). Both of these amounts are net of accumulated
<br />depreciation. This investment in capital assets includes land, buildings, improvements, machinery and equipment,
<br />park facilities, roads, highways, and bridges.
<br />Net Capital Assets
<br />Additional information on the City of Paris' capital assets can be found in note IV. D. of the Notes to the Financial
<br />Statements.
<br />Governmental Activities
<br />Business -Type Activities
<br />Total
<br />2019
<br />2020
<br />2019
<br />2020
<br />2019
<br />2020
<br />Land
<br />$ 5,927,478
<br />$ 5,950,108
<br />$ 339,620
<br />$ 339,620
<br />$ 6,267,098 $
<br />6,289,728
<br />Buildings and System
<br />10,848,848
<br />10,496,986
<br />30,339,960
<br />28,270,660
<br />41,188,808
<br />38,767,646
<br />Improvements Other
<br />than Buildings
<br />2,931,843
<br />2,664,467
<br />-
<br />-
<br />2,931,843
<br />2,664,467
<br />Machinery, Furniture,
<br />and Equipment
<br />3,630,227
<br />3,784,517
<br />1,247,080
<br />1,114,401
<br />4,877,307
<br />4,898,918
<br />Infrastructure
<br />11,863,329
<br />11,566,617
<br />-
<br />-
<br />11,863,329
<br />11,566,617
<br />Construction in Progress
<br />3,253,761
<br />6,664,407
<br />29,864,225
<br />33,953,797
<br />33,117,986
<br />40,618,204
<br />Water Rights -Net
<br />-
<br />-
<br />3,278,186
<br />3,242,554
<br />3,278,186
<br />3,242,554
<br />Total
<br />$ 38,455,486
<br />$ 41,127,102
<br />$ 65,069,071
<br />$ 66,921,032
<br />$ 103,524,557 $
<br />108,048,134
<br />Additional information on the City of Paris' capital assets can be found in note IV. D. of the Notes to the Financial
<br />Statements.
<br />
|