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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 case of the
<br />City of Paris, assets exceeded liabilities by $72,541,399 at the close of the most recent fiscal year. This compares to
<br />$69,118,352 for the previous year.
<br />
<br />By far the largest portion of the City of Paris' net assets (72.41 %) reflects its investment in capital assets (e.g., land,
<br />buildings, machinery, and equipment). The City of Paris uses these capital assets to provide services to citizens;
<br />consequently, these assets are not available for future spending. Although the City of Paris' investment in its capital assets is
<br />reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other
<br />sources, since the capital assets themselves cannot be used to liquidate these liabilities.
<br />
<br />Governmental Activities
<br />2006 2005
<br />
<br />Current and Other Assets
<br />Capital Assets
<br />Total Assets
<br />
<br />$ 12,159,632
<br />42,145,487
<br />54,305,119
<br />
<br />$ 13,061,472
<br />40,100,818
<br />53,162,290
<br />
<br />Long-term Liabilities
<br />Outstanding
<br />Other Liabilities
<br />Total Liabilities
<br />
<br />13,857,860
<br />643,196
<br />14,501,056
<br />
<br />14,596,398
<br />990,619
<br />15,587,017
<br />
<br />Net Assets:
<br />Invested in
<br />Capital Assets,
<br />Net of Related Debt
<br />Restricted
<br />Unrestricted
<br />Total Net Assets
<br />
<br />25,293,563
<br />5,089,243
<br />7,192,467
<br />$ 37,575,273
<br />
<br />28,935,168
<br />1,249,886
<br />9,619,009
<br />$ 39,804,063
<br />
<br />City of Paris' Net Assets
<br />
<br />Business-Type Activities
<br />2006 2005
<br />
<br />$ 11,063,040
<br />49,892,805
<br />60,955,845
<br />
<br />27,170,515
<br />1,047,994
<br />28,218,509
<br />
<br />23,590,438
<br />2,864,698
<br />6,282,200
<br />$ 32,737,336
<br />
<br />$ 9,597,353
<br />52,700,301
<br />62,297,654
<br />
<br />29,781,760
<br />972,815
<br />30,754,575
<br />
<br />24,119,931
<br />3,936,107
<br />3,487,041
<br />$ 31,543,079
<br />
<br />Total
<br />2006 2005
<br />
<br />$ 23,222,672
<br />92,038,292
<br />115,260,964
<br />
<br />41,028,375
<br />1,691,190
<br />42,719,565
<br />
<br />52,525,606
<br />4,114,584
<br />15,901,209
<br />$ 72,541,399
<br />
<br />$ 22,658,825
<br />92,801,119
<br />115,459,944
<br />
<br />44,378,158
<br />1,963,434
<br />46,341,592
<br />
<br />49,413,494
<br />9,025,350
<br />10,679,508
<br />$ 69,118,352
<br />
<br />An additional portion of the City of Paris' net assets $4,114,584 (5.67%) represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of unrestricted net assets $15,901,209 (21.92%) may be used to
<br />meet the government's ongoing obligations to citizens and creditors.
<br />
<br />There was a decrease of$4,910,766 in restricted net assets primarily due to expenditure of bond proceeds on capital 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 assets
<br />(invested in capital assets net of related debt, restricted assets, and unrestricted assets) both for the government as a whole, as
<br />well as for its separate governmental and business type activities. This was also true for the prior fiscal year.
<br />
<br />Governmental Activities
<br />
<br />Governmental activities increased the City of Paris' net assets by $2,228,790 during the current fiscal year. This increase
<br />resulted from decreases in the operating expenses of governmental activities and increasing charges for providing those
<br />services. General revenues were up $68,986 or .41 %. This increase was due to sales taxes and investment earnings which
<br />offset lower collections in other areas as shown below.
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