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McClanahan and Holmes, LLP CERTIFIED PUBLIC ACCOUNTANTS GEORGE H. STRUVE, CPA DEBRA J. WILDER, CPA TEFFANY A. KAVANAUGH, CPA APRIL J. HATFIELD, CPA BRITTANY L. MARTIN, CPA STEVEN W. MOHUNDRO, CPA, OF COUNSEL INDEPENDENT AUDITORS' REPORT Honorable Mayor, Members of the City Council, and City Manager City of Paris, Texas Report on the Audit of the Financial Statements Opinions 228 SIXTH STREET S.E. PARIS, TEXAS 76460 903.784-4316 FAX 903-784.4310 304 WEST CHESTNUT DENISON, TEXAS 76020 903466-6070 FAX 903-466-6093 1400 WEST RUSSELL BONHAM, TEXAS 75418 903-683-6674 FAX 903583-9463 We have audited the accompanying financial statements of the governmental activities, the business -type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of Paris, Texas (the City), as of and for the year ended September 30, 2023, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the table of contents. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business -type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of Paris, Texas, as of September 30, 2023, and the respective changes in financial position and, where applicable, cash flows thereof and respective budgetary comparison schedule for the General Fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinions We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City, and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Emphasis of Matter As discussed in Note I to the financial statements, in 2023 the City adopted new accounting guidance, GASBS No. 96, Subscription -Based Information Technology Arrangements. Our opinions are not modified with respect to this matter.