ACFR City of Paris 9-30-2024 with Continuing Disclosure Tables-searchable

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compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's internal control over financial reporting and compliance. Paris, Texas September 19, 2025 �AkCfanahan andifo(ines, LLP Certified Public Accountants MANAGEMENT'S DISCUSSION AND ANALYSIS As management of the City of Paris (the City), we offer readers of the City of Paris, Texas' financial statements this narrative overview and analysis of the financial activities of the City of Paris for the fiscal year ended September 30, 2024. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal as well as the City's financial statements. Financial Highlights of the Primary Government • The City increased its tax rate from 0.44278 to 0.47782 per $100 of valuation for fiscal year 2023-24. The increase was for debt service. • For the 2024-25 fiscal year, the City decreased its tax rate to 0.46120 per $100 of valuation. Both the O&M rate and the debt rate decreased. • City-wide revenues this year exceeded City-wide expenses by $14,414,535 whereas in the previous year revenues exceeded expenses by $10,339,649. The underlying causes of the higher surplus were increases in property taxes, sales taxes, unrestricted investment earnings, and miscellaneous revenues. These increases more than offset the increase in expenses. • At the end of the fiscal year, the unassigned fund balance for the general fund was $25,624,971 or 71.07% of total general fund expenditures. The prior year unassigned fund balance was $26,253,936 or 71.30% of general fund expenditures. • At the end of the fiscal year, the net position of the proprietary funds was $72,753,918 compared to $42,501,397 the prior year. Overview of the Financial Statements This management's discussion and analysis is intended to serve as an introduction to the City of Paris' basic financial statements. The City of Paris' basic financial statements comprise three components: 1) government -wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements. Government -Wide Financial Statements The government -wide financial statements are designed to provide readers with a broad overview of the City of Paris' finances, in a manner similar to a private -sector business. The statement of net position presents information on all of the City of Paris' assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City of Paris is improving or deteriorating. The statement of activities presents information showing how the government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change 4