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As of the end of the current fiscal year, the City of Paris' governmental funds reported combined ending fund
<br />balances of $28,221,509. Approximately 72.98% of this total amount ($20,596,761) constitutes unassigned fund
<br />balance, which is available for spending at the government's discretion. The remainder of fund balance is reserved
<br />to indicate that it is not available for new spending because it is non -spendable, restricted, or assigned to 1)
<br />Permanent Fund Principal ($98,543), 2) pay debt service ($1,928,672), 3) inventories ($181,620), 4) law
<br />enforcement ($672,627), 5) library ($76,935), 6), Public Education ($707,090), 7) capital projects ($3,631,092) and
<br />8) Community Development ($107,574).
<br />Revenues
<br />Expenditures
<br />Deficiency of Revenues
<br />Under Expenditures
<br />Total Other Financing Sources (Uses)
<br />Net Change in Fund Balances
<br />Increase (Decrease) in Inventory
<br />Fund Balances - Beginning
<br />Prior Period Adjustment
<br />Fund Balances - Ending
<br />FITTIti7i1:;i M1,
<br />Governmental Funds
<br />Revenues, Expenditures, and
<br />Changes in Fund Balances
<br />2020 2021
<br />$ 34,259,642
<br />$ 32,751,652
<br />33,382,864
<br />32,306,405
<br />876,778
<br />445,247
<br />1,291,321
<br />2,771,823
<br />2,168,099
<br />3,217,070
<br />21,948,406
<br />25,056,499
<br />939,994
<br />(52,060)
<br />$ 25,056,499
<br />$ 28,221,509
<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 fiord was $20,596,761 ($15,990,260 the previous year), while total fund balance reached
<br />$21,489,282 ($17,150,077 the previous year). The increase in the fund balance of the general fund was primarily
<br />due to increased cash position and receivables. As a measure of the general fund's liquidity, it may be useful to
<br />compare both unassigned find balance and total fund balance to total fund expenditures. Unassigned fund balance
<br />represents 63.75% of total general fund expenditures, while total fund balance represents 87.36% 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 $1,729,835 ($4,055,949 overspent the previous year).
<br />This 6.47% 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 15.01% or $4,014,955 ($4,491,429 last year). Higher than expected
<br />sales tax collections and increased billings by EMS and Municipal Court account for most of the increase.
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