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<br />Government-wide Financial Analysis
<br />
<br />As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. In the
<br />case of the City of Paris, assets exceeded liabilities by $69,118,352 at the close of the most recent fiscal year. This
<br />compares to $67,140,264 for the previous year.
<br />
<br />By far the largest portion of the City of Paris' net assets (68.39%) reflects its investment in capital assets (e.g., land,
<br />buildings, machinery, and equipment). The City of Paris uses these capital assets to provide services to citizens;
<br />consequently, these assets are not available for future spending. Although the City of Paris' investment in its capital
<br />assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided
<br />from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
<br />
<br />Current and Other Assets
<br />
<br />Capital Assets
<br />Total Assets
<br />
<br />Long- Term Liabilities
<br />Outstanding
<br />Other Liabilities
<br />Total Liabilities
<br />
<br />Net Assets:
<br />Invested in
<br />Capital Assets,
<br />Net of Re!ated Debt
<br />Restricted
<br />Unrestricted
<br />Total Net Assets
<br />
<br />Governmental Activities
<br />2004 2005
<br />
<br />$ 14,208,254
<br />39,152,033
<br />53,360,287
<br />
<br />18,982,066
<br />
<br />1,090,451
<br />20,072,517
<br />
<br />19,947,827
<br />7,549,815
<br />5,790,128
<br />$ 33,287,770
<br />
<br />$ 13,061,472
<br />40,100,818
<br />53,162,290
<br />
<br />14,596,398
<br />
<br />990,619
<br />15,587,017
<br />
<br />29,330,449
<br />5,089,243
<br />3,155,581
<br />$ 37,575,273
<br />
<br />City of Paris' Net Assets
<br />
<br />Business-type Activities
<br />2004 2005
<br />
<br />$ 8,695,753
<br />54,743,139
<br />63,438,892
<br />
<br />26,280,200
<br />
<br />3,306,198
<br />29,586,398
<br />
<br />25,324,447
<br />3,935,871
<br />4,592,176
<br />$ 33,852,494
<br />
<br />$ 9,597,353
<br />52,700,301
<br />62,297,654
<br />
<br />29,781,760
<br />
<br />972,815
<br />30,754,575
<br />
<br />21,981,460
<br />3,936,107
<br />5,625,512
<br />$ 31,543,079
<br />
<br />Total
<br />2004 2005
<br />
<br />$ 22,904,007
<br />93,895,172
<br />116,799,179
<br />
<br />45,262,266
<br />
<br />4,396,649
<br />49,658,915
<br />
<br />45,272,274
<br />11,485,686
<br />10,382,304
<br />$ 67,140,264
<br />
<br />$ 22,658,825
<br />92,801,119
<br />115,459,944
<br />
<br />44,378,158
<br />
<br />1,963,434
<br />46,341,592
<br />
<br />51,311,909
<br />9,025,350
<br />8,781,093
<br />$ 69,118,352
<br />
<br />An additional portion of the City of Paris' net assets, $9,025,350 (13.06%), represents resources that are subject to
<br />external restrictions on how they may be used. The remaining balance of unrestricted net assets, $8,781,093
<br />(12.70%), may be used to meet the government's ongoing obligations to citizens and creditors.
<br />
<br />There was a decrease of $2,533,709 in restricted net assets primarily due to expenditure of bond proceeds on capital
<br />projects.
<br />
<br />At the end of the current fiscal year, the City of Paris is able to report positive balances in all three categories of net
<br />assets (invested in capital assets, net of related debt; restricted assets; and unrestricted assets) both for the
<br />government as a whole, as well as for its separate governmental and business-type activities. This was also true for
<br />the prior fiscal year.
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