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<br />
<br />.P 'L
<br />
<br />January 4,2007
<br />
<br />Mayor Richard Manning
<br />and Members of the City Council
<br />City of Paris, Texas
<br />
<br />Dear Mayor and Council Members:
<br />
<br />I am pleased to submit the Comprehensive Annual Financial Report of the City of Paris, Texas, for the fiscal year ended
<br />September 30, 2006.
<br />
<br />The City of Paris is a financial reporting entity as defmed by the Government Accounting Standards Board codification section
<br />2100. As such, it has a separately elected governing body chosen by its citizens in a general, popular election, is a legally
<br />separate primary government, and is fiscally independent of other state and local governments. The [mancial reporting entity
<br />includes all the funds of the primary government and its component unit.
<br />
<br />The primary purpose of this report is to provide the City Council, citizens, fmancial community, and others with detailed
<br />information concerning the fmancial condition and performance of the City of Paris. It is strongly recommended that any user
<br />of this report read the Management's Discussion and Analysis included in the [mancial section of the report. In addition, this
<br />report provides assurance that the City presents fairly its fmancial position as verified by independent auditors.
<br />
<br />THE COMPREHENSIVE ANNUAL FINANCIAL REPORT
<br />
<br />The Comprehensive Annual Financial Report of the City of Paris, Texas, for the fiscal year ended September 30, 2006, which
<br />follows, was prepared by the Finance Department. The fmancia1 statements have been audited by McClanahan and Holmes,
<br />LLP, CP As, whose report is included herein. This audit satisfies Article III, Section 35 of the City Charter which requires that
<br />an annual audit of all accounts of the City be made by an independent certified public accountant. Additionally, the
<br />compliance features of the City's federal and state grant programs for the year ended September 30, 2006, were audited by the
<br />firm of McClanahan and Holmes, LLP, CP As. Its compliance reports are available under the Overall Compliance, Internal
<br />Controls, and Federal and State Awards Section of this report.
<br />
<br />The City Finance Department is responsible for both the accuracy of the presented data and the completeness and fairness of
<br />the presentations, including all disclosures. I believe the data presented is accurate in all material aspects and is presented in a
<br />manner which fairly sets forth the financial position and results of operations of the City. Furthermore, I believe that all
<br />disclosures necessary to enable the reader to gain maximum understanding of the City's financial activity have been included.
<br />
<br />P.O. BOX 9037 . PARIS, TEXAS 75461-903iI-f (903) 785-7511 · FAX (903) 785-8519
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