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CITY OF PARIS, TEXAS <br />Notes to Financial Statements (Continued) <br />September 30, 2023 <br />I. Sum m of Shmificant Accounting Policies (Continued) <br />K. Future Adoption of Accounting Pronouncements <br />The GASB has issued the following potentially significant statements which the City has not yet adopted, and <br />which require adoption subsequent to September 30, 2023. <br />Statement <br />No. Adoption Required <br />100 Accounting Changes and Error September 30, 2024 <br />Corrections — an Amendment of GASB <br />Statement No. 62 <br />101 Compensated Absences September 30, 2025 <br />102 Certain Risk Disclosures September 30, 2025 <br />II. Reconciliation of Government -Wide and Fund Financial Statements <br />A. Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the Government - <br />Wide Statement of Net Position <br />The governmental fund balance sheet includes a reconciliation between fund balance — total governmental funds <br />and net position — governmental activities as reported in the government -wide statement of net position. One <br />element of that reconciliation explains that "capital and right -to -use assets used in governmental activities are <br />not financial resources and, therefore, are not reported in the funds." The details of this $40,044,939 are as <br />follows: <br />Land <br />$ 6,142,418 <br />Construction in Progress <br />311,377 <br />Buildings <br />22,523,529 <br />Less: Accumulated Depreciation — Buildings <br />(11,465,640) <br />Improvements Other Than Buildings <br />6,695,332 <br />Less: Accumulated Depreciation — Improvements Other Than Buildings <br />(4,793,254) <br />Machinery and Equipment <br />24,646,150 <br />Less: Accumulated Depreciation — Machinery and Equipment <br />(19,667,792) <br />Infrastructure <br />52,818,522 <br />Less: Accumulated Depreciation — Infrastructure <br />(37,544,545) <br />Right -To -Use Assets - Leases <br />280,928 <br />Less: Accumulated Amortization — Right -To -Use Assets - Leases <br />(101,545) <br />Right -To -Use Assets - SBITAs <br />218,090 <br />Less: Accumulated Amortization — Right -To -Use Assets - SBITAs <br />m..........8,63,,,,1„� <br />Net Adjustment to Increase Fund Balance — Total Governmental Funds <br />to Arrive at Net Position — Governmental Activities <br />40.044.939 <br />41 <br />