|
Debt Service Fund
<br />The Debt Service Fund has a total fund balance of $2,002,722 ($1,799,656 the previous year), all of which is
<br />reserved for the payment of debt service. The net increase in fund balance during the current year in the debt service
<br />fund was $203,066 ($192,987 increase the previous year). The government enacted a dedicated property tax for debt
<br />service at the beginning of the current fiscal year. This tax produced revenues of $1,079,215 in the current fiscal
<br />year ($1,644,776 the previous year).
<br />Proprietary Fund
<br />The City of Paris' Proprietary Fund provides the same type of information found in the government -wide financial
<br />statements, but in more detail.
<br />Unrestricted net position of the Water and Sewer Fund at the end of the year amounted to $15,782,990 ($15,457,391
<br />the previous year). Factors concerning the finances of this fund have already been addressed in the discussion of the
<br />City of Paris' business -type activities.
<br />Capital Asset and Debt Administration
<br />Capital Assets
<br />The City of Paris' investment in capital assets for its governmental and business -type activities as of September 30,
<br />2023 amounts to $117,454,141 ($110,906,788 the previous year). Both amounts are net of accumulated
<br />depreciation. This investment in capital assets includes land, buildings, improvements, machinery and equipment,
<br />park facilities, roads, highways, and bridges.
<br />Land
<br />Buildings and
<br />System
<br />Improvements
<br />Other than
<br />Buildings
<br />Machinery,
<br />Furniture,
<br />and
<br />Equipment
<br />Infrastructure
<br />Construction
<br />in Progress
<br />Water Rights
<br />— Net
<br />Total
<br />Governmental Activities
<br />. 2022wwww 2023
<br />$ 6,101,909 $ 6,142,418
<br />9,652,918 11,057,889
<br />Net Capital Assets
<br />Business -T lie Achvrties
<br />2022 2023
<br />$ 339,620 $ 339,620
<br />23,609,694 56,826,303
<br />.Total
<br />2022 2023
<br />$ 6,441,529 $ 6,482,038
<br />33,262,612 67,884,192
<br />2,130,906
<br />1,902,078
<br />-
<br />-
<br />2,130,906
<br />1,902,078
<br />4,819,859
<br />4,978,358
<br />1,771,306
<br />2,608,174
<br />6,591,165
<br />7,586,532
<br />16,172,728
<br />15,273,977
<br />-
<br />-
<br />16,172,728
<br />15,273,977
<br />1,484,125
<br />311,377
<br />41,652,434
<br />14,878,290
<br />43,136,559
<br />15,189,667
<br />-
<br />-2
<br />............_
<br />.......3,135657
<br />3,171.89
<br />3,135„657
<br />$40,362,445
<br />$39666,097
<br />$70,544,343
<br />$77,788,044
<br />$110,906,788
<br />$117,454,141
<br />Additional information on the City of Paris' capital assets can be found in note IV. D. of the Notes to the Financial
<br />Statements.
<br />Long -Term Debt
<br />The City of Paris has total debt outstanding in the amount of $124,005,915 (includes two financed purchases). Of
<br />this amount, $11,000,915 comprises debt being paid for by property tax or hotel tax revenues, and $113,005,000
<br />represents bonds being paid for by water and sewer revenues.
<br />11
<br />
|