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CITY OF PARIS, TEXAS <br />Notes to Financial Statements (Continued) <br />September 30, 2024 <br />L Summarof Significant Accounting Policies (Continued) <br />K. Future Adoption of Accounting Pronouncements <br />The GASB has issued the following potentially significant statements which the City has not yet adopted, and <br />which require adoption subsequent to September 30, 2024. <br />Statement <br />No. <br />Adoption Required <br />101 Compensated Absences September 30, 2025 <br />102 Certain Risk Disclosures September 30, 2025 <br />103 Financial Reporting Model September 30, 2026 <br />Improvements <br />104 Disclosure of Certain Capital Assets September 30, 2026 <br />IL Reconciliation of Government -Wide and Fund Financial Statements <br />A. Explanation of Certain Differences Between the Governmental Fund Balance Sheet and the GovernmentWide <br />Statement of Net Position <br />The governmental fund balance sheet includes a reconciliation between fund balance — total governmental funds <br />and net position — governmental activities as reported in the government -wide statement of net position. One <br />element of that reconciliation explains that "capital and right -to -use assets used in governmental activities are not <br />financial resources and, therefore, are not reported in the funds." The details of this $41,341,902 are as follows: <br />Land <br />$ 6,142,418 <br />Construction in Progress <br />393,403 <br />Buildings <br />22,936,307 <br />Less: Accumulated Depreciation — Buildings <br />(11,990,089) <br />Improvements Other Than Buildings <br />9,011,258 <br />Less: Accumulated Depreciation — Improvements Other Than Buildings <br />(5,016,696) <br />Machinery and Equipment <br />25,326,603 <br />Less: Accumulated Depreciation — Machinery and Equipment <br />(20,930,595) <br />Infrastructure <br />52,818,522 <br />Less: Accumulated Depreciation — Infrastructure <br />(38,506,302) <br />Right -To -Use Assets - Leases <br />514,890 <br />Less: Accumulated Amortization — Right -To -Use Assets - Leases <br />(157,310) <br />Right -To -Use Assets - SBITAs <br />997,838 <br />Less: Accumulated Amortization — Right -To -Use Assets - SBITAs <br />(198,345) <br />Net Adjustment to Increase Fund Balance — Total Governmental Funds <br />to Arrive at Net Position — Governmental Activities <br />$ 41,341,902 <br />51 <br />