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Revenues
<br />Expenditures
<br />Deficiency of Revenues Over (Under)
<br />Expenses
<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 Changes in
<br />. Fund Balances
<br />2022
<br />2023
<br />$ 38,100,335 $ 42,785,984
<br />47,638,067 _.... ._w 39,833 361
<br />(9,537,732) 2,952,623
<br />12,180,391 284,093
<br />2,642,659
<br />28,221,509
<br />287,870
<br />�$ 31,152,038
<br />3,236,716
<br />31,152,038
<br />$ 34,388,754
<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 $26,253,936 ($24,072,369 the previous year), while total fund balance reached
<br />$27,329,955 ($25,071,442 the previous year). The increase in the fund balance of the general fund was primarily
<br />due to an improved cash position. As a measure of the general fund's liquidity, it may be useful to compare both
<br />unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance represents
<br />71.30% of total general fund expenditures, while total fund balance represents 74.22% of that same 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 $3,659,375 ($11,635,719 overspent the
<br />previous year). This 11.03% variance was due to a large EMS bad debt expense General fund type revenues were
<br />over budget by 24.24% or $7,663,988 ($6,065,087 last year). Higher than expected sales tax collections and
<br />grossing up EMS billings from a cash basis to an accrual basis account for the variance.
<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 $2,938,214
<br />($2,432,341 last year). This increase was due mainly to a positive revenue vs. expense comparison and a one-time
<br />transfer in of funds. Variances from year to year are common in this fund as projects are approved on a year-to-year
<br />basis by the City Council.
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