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CITY OF PARIS, TEXAS
<br />Notes to Financial Statements (Continued)
<br />September 30, 2023
<br />IV. Detailed Notes on All Activities and Funds (Continued) .
<br />M. Subscription -Based Information Technology Arrangements (SBITA) (Continued)
<br />As of September 30, 2023, the City has three active subscriptions. The subscriptions have payments that range
<br />from $4,168 to $80,125 and interest rates that range from 3.1200% to 3.1600%. As of September 30, 2023, the
<br />total combined value of the subscription liability is $335,048, and the total combined value of the short-term
<br />subscription liability is $73,544. The combined value of the right to use asset,. as of September 30, 2023 of
<br />$425,677 with accumulated amortization of $35,007 is included within the subscription class activities table
<br />found below. The subscriptions had no variable payments or other payments not included in the subscription
<br />liability within the fiscal year. Beginning balances of subscription liabilities is immaterial to the financial
<br />statements and therefore, required to restatement of prior periods.
<br />As of Fiscal Year -End
<br />Subscription
<br />Accumulated
<br />Asset Class Asset Value Amortization
<br />Software m$_.... 425,677 $ 35,007
<br />Total Subscriptions $ 425,677 $ 35,007
<br />As of September 30, 2023, the City had a minimum principal and interest payment requirements for its SBITA
<br />activities, with a remaining term more than one year, as follows:
<br />Year Ending
<br />General Activities
<br />Business- T gie Activities
<br />1.Se Member 30,
<br />Prmci gal
<br />f
<br />Interest
<br />P incite-
<br />Interest
<br />2024
<br />$ 36,772
<br />$ 5,294
<br />$ 36,772
<br />_
<br />$ 5,294
<br />2025
<br />40,037
<br />4,132
<br />40,037
<br />4,132
<br />2026
<br />43,511
<br />2,867
<br />43,511
<br />2,867
<br />2027
<br />47,204
<br />1,492
<br />47,204
<br />1,492
<br />Totals
<br />$ 167,524
<br />$ 13,785
<br />$ 167,524
<br />$ 13,785
<br />N. Interfund Transactions and Balances
<br />During the year ended September 30, 2023, the City made transfers from the Water and Sewer fund to the
<br />General fund of $1,108,349 to reclassify grant revenue. Other minor transfers were made between funds making
<br />up transfers of:
<br />Capital Other Water and
<br />ww
<br />Genera Projects Governmental .� l Sewer Transfers Out
<br />.. mmmm
<br />General $ $ 410,000 $ 105,915 $ 1,306,850 $ 1,822,765
<br />Other Governmental 33,680 - - - 33,680
<br />Water and Sewer1,149,431 - - - 1,149,431
<br />Transfers In $ 1,183,111 $ 410,000 $ 105,915 $ 1,306,850 $ 3,005,876
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