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<br />3.5% growth by $0.00255, thereby using up a portion of the unused FY22/23 growth allocation authorized under
<br />Texas Tax Code 26.04(c)(2)(B). This gives us a M & 0 tax rate of $0.32176 instead of $0.31921.
<br />The next key element typically of interest would he the balancing of the Operational Funds. The City of Paris has
<br />numerous Funds, the vast majority of which are Special Purpose Funds which will be discussed later in this
<br />memorandum. The Operational Funds are Fund 0 1 — General Fund, 03 — Airport Fund, 10 — Water and Sewer Fund,
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<br />what the City operates out of to perform its daily tasks. In addition, these four funds are unique from other special
<br />rilX froxi t?xes, firres, fees. and utility rates, thus the iMportance to
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<br />we are tasked with performing to maintain services, all while keeping the property tax rate as low as possible. The
<br />following table shows the balancing of each of our operating funds:
<br />Fund
<br />Revenue
<br />Ex ienditure
<br />. .
<br />Net
<br />. ............ . . . .
<br />01 —General Fund
<br />$29,616,550.00
<br />$31,051,550.00
<br />($1,435,000.00)
<br />01 — General Fund Reserve
<br />435,000.00
<br />SOM
<br />_$1,,435,000°00
<br />Net
<br />$31,051,550.00
<br />$31,051,550.00
<br />$0.00
<br />03 — Airport Fund
<br />$1,007,041.00
<br />$1,037,041.00
<br />($30,000.00)
<br />03 — Airport Fund Reserve
<br />$30,000M
<br />50.00
<br />$30000.00.
<br />Net
<br />$1,037,041.00
<br />$1,037,041.00
<br />$0.00
<br />10 —Water and Sewer Fund
<br />$20,987,300.00
<br />$20,987,300.00
<br />$0.00
<br />45 — Sanitation Fund
<br />$1,380,000.00
<br />$1,380,000.00
<br />$0.00
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<br />balance. This, in essence, is the amount that was forwarded to the reserve at the close of the FY21/22. It is always our
<br />goal to come in over revenue and under expense — this gives us the needed room to operate while allowing us to
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<br />purchases that must occur. This use of the surplus puts the citizens' tax money to work benefiting them, while still
<br />maintaining a healthy reserve. In addition, given restrictions under SB -2 as discussed above, use of surplus funds is
<br />also the only means of purchasing some capital items outside of ARPA and CARES (which are finite).
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