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<br /> Governmental Funds
<br /> Revenues, "Expenditures, &
<br /> Changes in fund Balances
<br /> 2006 2005
<br />Revenues $ 23,663,297 $ 23,427,213
<br />Expenditures 25,183,372 25,394,527
<br />Excess (Deficiency) of Revenues
<br />Over (Under) Expenditures (1,520,075) (1,967,314)
<br />Total Other Financing Sources (Uses) 1,090,000 1,030,589
<br />Net Change in Fund Balances (430,075) (936,725)
<br />Increase (Decrease) in Inventory (34,118) (3,091)
<br />Fund Balances. October 1 11,440,304 12,380,120
<br />Fund Balances - September 30 $ 10,976,111 $ 11,440,304
<br />
<br />The general fund is the chief operating fund of the City of Paris. At the end of the current fiscal year, unreserved fund balance
<br />of the general fund was $8,874,883 ($5,375,749 the previous year), while total fund balance reached $8,993,808 ($5,528,792
<br />the previous year). As a measure of the general fund's liquidity, it may be useful to compare both unreserved fund balance
<br />and total fund balance to total fund expenditures. Unreserved fund balance represents 48.78% of total general fund
<br />expenditures, while total fund balance represents 49.43% of that same amount. The increase in the fund balance of the
<br />general fund was due to excess of revenues over expenditures and transfers into the general fund.
<br />
<br />Debt Service Fund
<br />
<br />The debt service fund has a total fund balance of $751,574 ($725,394 the previous year), all of which is reserved for the
<br />payment of debt service. The net increase in fund balance during the current year in the debt service fund was $26,180 (a
<br />$362,002 decrease the previous year). The increase was due to excess revenues over expenses for the year. The government
<br />enacted a dedicated property tax for debt service at the beginning of the current fiscal year. This tax produced revenues of
<br />$1,353,600 in the current fiscal year ($1,214,264 the previous year).
<br />
<br />Proprietary Fund
<br />
<br />The City ofparis' proprietary fund provides the same type of information found in the government-wide financial statements,
<br />but in more detail.
<br />
<br />Unrestricted net assets of the Water and Sewer Fund at the end of the year amounted to $7,975,432 ($5,625,512 the previous
<br />year). This change was due to increased revenue and decreased expenditures compared to the previous year. Other factors
<br />concerning the [mances of this fund have already been addressed in the discussion of the City of Paris' business-type
<br />activities.
<br />
<br />General Fund Budgetary Highlights
<br />
<br />There were no changes to the original budget. The overall appropriation of the general fund was under spent by $1,222,563
<br />($285,541 the previous year).
<br />
<br />Capital Asset and Debt Administration
<br />
<br />Capital Assets
<br />
<br />The City of Paris' investment in capital assets for its governmental and business-type activities as of September 30, 2006,
<br />amounts to $92,038,292 ($92,801,119 the previous year). Both of these amounts are net of accumulated depreciation. This
<br />investment in capital assets includes land, buildings, improvements, machinery and equipment, park facilities, roads,
<br />highways, and bridges.
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