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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 />General Fund
<br />Governmental Funds
<br />Revenues, Expenditures, and
<br />Changes in Fund Balances
<br />2022 2021
<br />38,100,335 $ 32,751,652
<br />47,638,067
<br />32,306,405
<br />(9,537,732)
<br />445,247
<br />12,180,391
<br />2,771,823
<br />2,642,659
<br />28,221,509
<br />287,870
<br />$ 31,152,038
<br />3,217,070
<br />25,056,499
<br />(52,060)
<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 fund was $23,926,645 ($20,596,761 the previous year), while total fund balance reached
<br />$25,071,442 ($28,221,509 the previous year). The decrease in the fund balance of the general fund was primarily
<br />due to increased liabilities and deferred inflows. As a measure of the general fund's liquidity, it may be useful to
<br />compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance
<br />represents 55.31% of total general fund expenditures, while total fund balance represents 57.61% 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 and general fund types. Statement 6
<br />combines these funds and provides a budget to actual comparison.
<br />The final appropriation of the general fund types in total was overspent by $11,635,719 ($1,729,835 overspent the
<br />previous year). This 36.49% variance was primarily due to the issuance of $12,355,000 in GO Bonds to fully fund
<br />the fire fighter pension fund. General fund type revenues were over budget by 21.36% or $6,065,087 ($4,014,955
<br />last year). Higher than expected sales tax collections and increased billings by EMS account for most of the
<br />increase.
<br />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 $2,432,341
<br />($3,627,281 last year). This reduction was due mainly to expenditures in the remodeling of the civic center.
<br />Variances from year to year are common in this fund as projects are approved on a year to year basis by the City
<br />Council.
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