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City of Paris' Net Assets
<br /> Governmental Activities Business-Type Activities Total
<br /> 2007 2006 2007 2006 2007 2006
<br />Current & Other Assets $ 15,016,286 $ 12,159,632 $ 11,952,692 $ 11,063,040 $ 26,968,978 $ 23,222,672
<br />Capital Assets 40,809,713 42,145,487 47,204,196 49,892,805 88,013,909 92,038,292
<br />Total Assets SS,82S,999 54,305,119 S9,1S6,888 60,9SS,84S 114,982,887 115,260,964
<br />Long-term Liabilities
<br />Outstanding 13,543,854 13,857,860 24,529,239 27,170,515 38,073,093 41,028,375
<br />Other Liabilities 285,127 643,196 1,103,024 1,047,994 1,388,151 1,691,190
<br />Total Liabilities 13,828,981 14,SOl,OS6 25,632,263 28,218,509 39,461,244 42,719,565
<br />Net Assets:
<br />Invested in
<br />Capital Assets
<br />Net of Related Debt 28,296,810 28,935,168 23,735,238 23,590,438 52,032,048 52,525,606
<br />Restricted 1,686,011 1,249,886 3,258,469 2,864,698 4,944,480 4,114,584
<br />Unrestricted 12,014,197 9,619,009 6,530,918 6,282,200 18,54S,11S 15,901,209
<br />Total Net Assets $ 41,997,018 $ 39,804,063 $ 33,52.4,625 $ 32,737,336 $ 7S,S21,643 $ 72,541,399
<br />An additional portion of the City of Paris' net assets $4,614,560 (6.11%) represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of unrestricted net assets $18,875,035 (24.99%) may be used
<br />to meet the government's ongoing obligations to citizens and creditors.
<br />There was an increase of $829,896 in restricted net assets primarily due to additional amounts being set aside for
<br />construction and debt service.
<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,
<br />as well as for its separate governmental and business type activities. This was also true for the prior fiscal year.
<br />Governmental Activities
<br />Governmental activities increased the City of Paris' net assets by $2,192,955 during the current fiscal year. This increase
<br />resulted mainly from a transfer from the City's enterprise fund and increases in property tax revenue, sales tax revenue, and
<br />investment earnings. Total governmental revenues were up $348,972 or 1.48%. General revenues were up $1,007,598 or
<br />6.00%. Program revenues were down $658,626 or 9.7% due to decreased grants and contributions.
<br />General Revenues
<br />2007
<br />Increase
<br />2006 (Decrease)
<br />Property Taxes $ 7,924,453 $ 7,583,269 $ 341,184
<br />Sales Taxes 5,673,616 5,401,371 272,245
<br />Franchise Taxes 3,082,183 3,OS3,671 28,512
<br />Hotel Occupancy Tax 430,991 396,333 34,658
<br />Unrestricted Investment Earnings 571,678 342,306 229,372
<br />Gain On Sale of Capital Assets 102,195 S68 101,627
<br />Total General Revenues $ 17,785,116 $ 16,777,518 $ 1,007,598
<br />The following table provides a sumrnary of the City's operations for the years ending 2006 and 2007 for both governmental
<br />and business-type activities.
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