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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 $3,627,291
<br />($3,836,182 last year). This reduction was due to relatively minor expenditures 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.
<br />Debt Service Fund
<br />The Debt Service Fund has a total fund balance of $1,928,372 ($1,766,863 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 $161,809 ($39,798 increase 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 $1,541,384 in the current fiscal
<br />year ($1,892,804 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 $11,802,173 ($14,923,230
<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 />2021 amounts to $108,245,426 ($108,048,134 the previous year). Both of these amounts are net of accumulated
<br />depreciation. This investment in capital assets includes land, buildings, improvements, machinery and equipment,
<br />park facilities, roads, highways, and bridges.
<br />Net Capital Assets
<br />10
<br />Governmental Activities
<br />Business -Type Activities
<br />Total
<br />2020
<br />2021
<br />2020
<br />2021
<br />2020
<br />2021
<br />Land
<br />$ 5,950,108
<br />$ 5,950,108
<br />$ 339,620
<br />$ 339,620
<br />$ 6,289,728 $
<br />6,289,728
<br />Buildings and System
<br />10,496,986
<br />10,048,032
<br />28,270,660
<br />25,794,430
<br />38,767,646
<br />35,842,462
<br />Improvements Other
<br />than Buildings
<br />2,664,467
<br />2,363,745
<br />-
<br />2,664,467
<br />2,363,745
<br />Machinery, Furniture,
<br />and Equipment
<br />3,784,517
<br />4,608,507
<br />1,114,401
<br />1,324,682
<br />4,898,918
<br />5,933,189
<br />Infrastructure
<br />11,566,617
<br />17,157,762
<br />-
<br />-
<br />11,566,617
<br />17,157,762
<br />Construction in Progress
<br />6,664,407
<br />263,364
<br />33,953,797
<br />37,188,254
<br />40,618,204
<br />37,451,618
<br />Water Rights -Net
<br />-
<br />-
<br />3,242,554
<br />3,206,922
<br />3,242,554
<br />3,206,922
<br />Total
<br />$ 41,127,102
<br />$ 40,391,518
<br />$ 66,921,032
<br />$ 67,853,908
<br />$ 108,048,134 $
<br />108,245,426
<br />10
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