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• $3,794,316.00 — Fire apparatus • $215,000.00 — Police Department equipment and vehicles • $122,000.00 — Tractor with side shredder for Community Development 3. Strategic Planning The Paris City Council adopted a new Strategic Plan on January 9, 2023, which was updated in September 2023 for the FY23/24 Budget. Built around a Vision, Mission Statement, and long-term Goals, the plan is intended to guide the City's budget decisions. In May 2025, City leadership and staff began work on an updated and more comprehensive Strategic Plan. This effort includes input from community members, stakeholders, staff, and the City Council. The plan is currently in development and is on track for completion by the end of September. Once finalized, it will help guide key priorities and activities in the FY25/26 Budget. The updated Strategic Plan will remain centered on the City's mission: "The mission of the City of Paris is to serve with professionalism and integrity, promote a safe and prosperous community for all citizens, and provide efficient and effective services for an excellent quality of life." 4. Projects: Wastewater Treatment Plant (WWTP) The Wastewater Treatment Plant (WWTP) is the largest capital project the City of Paris has undertaken in recent years and the costliest in the City's history. The project is being completed in two phases: • Phase One is proposed to be completed in September 2025 • Phase Two is on track for completion by March of 2026 The City has issued $113,370,000 in debt to pay for the WWTP project. This major investment has had a significant financial impact on the City. It is a key driver behind Paris having the second-highest sewer rates in the state, and the project has contributed substantially to the City's bond indebtedness. 5. Employee Pay and Benefits The greatest asset of the City of Paris is its employees. Local governments exist to provide essential services, and these services have a direct impact on the community's quality of life. Taxpayers expect a high level of performance, and meeting these expectations depends on having a skilled and dedicated workforce. The quality, commitment, and effectiveness of our employees are therefore essential to fulfilling the City's Financial Policy and delivering the high standard of service our residents deserve. Background: In recent years, the City Council has made significant investments in employee pay and benefits to strengthen retention, morale, and long-term financial sustainability. In FY21/22, a major overhaul of the City's pay structure began with the adoption of a 71/o/14% TMRS contribution rate and implementation of a pay plan aligning non -civil service and civil service positions with peer communities. This included restructuring seniority scales in the Fire and Police Departments and implementing annual 2% COLAs to help offset inflation. The City also transitioned Fire personnel from the underfunded Paris Firefighters' Pension to TMRS in FY22/23, issuing a pension bond that resulted in substantial long-term savings. Additionally, the City increased its monthly health insurance contribution and, in FY23/24, shifted from biennial to annual step increases, ensuring employees receive more consistent raises throughout their careers. These actions reflect the City Council's continued commitment to supporting its workforce. The FY 25/26 budget includes: 1) A 2% Cost of Living Adjustment for all full-time positions. 2) An increase in the City's monthly contribution to Health Insurance costs. In FY24/25, the city contributed $650.00, and in FY 25/26 the city will contribute $700.00. 3) We are in the process of conducting a new pay study that will be completed by November of 2025. 2