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CITY OF PARIS, TEXAS <br />Notes to Financial Statements (Continued) <br />September 30, 2021 <br />IV. Detailed Notes on All Activities and Funds (Continued) <br />D. Capital Assets (Continued) <br />Depreciation expense was charged to functions/programs of the primary government as follows: <br />Governmental Activities <br />General Government $ 115,512 <br />Public Safety 671,392 <br />Public Works, Including Depreciation of General Infrastructure Assets 1,596,215 <br />Health 212,787 <br />Culture and Recreation 120,598 <br />Cox Field Airport 131,840 <br />Total Depreciation Expense — Governmental Activities S 2,848,3444. <br />Business -Type Activities <br />Water and Sewer $ 2.910,029 <br />Total Depreciation Expense — Business -Type Activities $ 2.910.029 <br />E. Deferred Compensation Plan <br />The City offers its employees two deferred compensation plans created in accordance with Internal Revenue <br />Code Section 457. <br />F. Employee Retirement Systems and Plans <br />The City maintains a nontraditional defined benefit retirement plan for all full-time employees except for <br />firefighters and a single -employer, defined benefit plan for firefighters. <br />1. Texas Municipal Retirement System <br />Plan Description <br />The City of Paris participates as one of 895 plans in the nontraditional, joint contributory, hybrid defined <br />benefit pension plan administered by the Texas Municipal Retirement System (TMRS). TMRS is an agency <br />created by the State of Texas and administered in accordance with the TMRS Act, Subtitle G, Title 8, <br />Texas Government Code (the TMRS Act) as an agent multiple -employer retirement system for municipal <br />employees in the State of Texas. The TMRS Act places the general administration and management of the <br />System with a six -member Board of Trustees. Although the Governor, with the advice and consent of the <br />Senate, appoints the Board, TMRS is not fiscally dependent on the State of Texas. TMRS's defined benefit <br />pension pian is a tax -qualified plan under Section 401 (a) of the Internal Revenue Code. The plan financial <br />statements are prepared using the accrual basis of accounting. TMRS issues a publicly available annual <br />comprehensive financial report (ACFR) that can be obtained at www.imrs.com. <br />All eligible employees of the city are required to participate in TMRS. <br />42 <br />