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The general fund is the chief operating fund of the City of Paris. At the end of the current fiscal year, unreserved fund
<br />balance of the general fund was $11,581,136 ($8,874,883 the previous year), while total fund balance reached $11,783,576
<br />($8,993,808 the previous year). The increase in the fund balance of the general fund was due to excess revenues over
<br />expenditures and transfers into the general fund. As a measure of the general fund's liquidity, it may be useful to compare
<br />both unreserved fund balance and total fund balance to total fund expenditures. Unreserved fund balance represents 58.40%
<br />of total general fund expenditures, while total fund balance represents 59.42% of that same amount.
<br />Debt Service Fund
<br />The debt service fund has a total fund balance of $736,869 ($751,574 the previous year), all of which is reserved for the
<br />payment of debt service. The net decrease in fund balance during the current year in the debt service fund was $14,705
<br />($26,180 increase the previous year). The decrease was an immaterial amount. The government enacted a dedicated
<br />property tax for debt service at the beginning of the current fiscal year. This tax produced revenues of $1,306,714 in the
<br />current fiscal year ($1,353,600 the previous year).
<br />Proprietary Fund
<br />The City of Paris' proprietary fund provides the same type of information found in the government-wide financial
<br />statements, but in more detail.
<br />Unrestricted net assets of the Water and Sewer Fund at the end of the year amounted to $6,530,918 ($6,282,200 the
<br />previous year). This change was due to decreased interest expense on revenue bonds and increased investment earnings.
<br />Other factors concerning the fmances of this fund have already been addressed in the discussion of the City of Paris'
<br />business-type activities.
<br />General Fund Budgetary Highlights
<br />There were changes to individual departmental budget appropriations, but there was no increase in the total overall budget.
<br />The overall appropriation of the general fund was under spent by $2,192,385 ($1,222,563 the previous year).
<br />Capital Asset and Debt Administration
<br />Capital Assets
<br />The City of Paris' investment in capital assets for its governmental and business-type activities as of September 30, 2007,
<br />amounts to $88,013,909 ($92,038,292 the previous year). Both of these amounts are net of accumulated depreciation. This
<br />investment in capital assets includes land, buildings, improvements, machinery and equipment, park facilities, roads,
<br />highways, and bridges.
<br />City of Paris-Net Capital Assets
<br />Land
<br />Buildings and System
<br />Improvements Other
<br />than Buildings
<br />Machinery, Furniture,
<br />and Equipment
<br />Infrastructure
<br />Construction in Progress
<br />Water Rights-Net
<br />Unamortized Bond Expense
<br />Total
<br />Governmental Activities Business-Type Activities Total
<br />2007 2006 2007 2006 2007 2006
<br />$ 5,903,022 $ 5,903,022 $ 282,672 $ 282,672 $ 6,185,694 $ 6,185,694
<br />12,236,712 12,456,556 45,004,606 47,855,707 57,241,318 60,312,263
<br />2,227,649 2,404,908 - - 2,227,649 2,404,908
<br />2,871,815 2,911,873 255,163 170,250 3,126,978 3,082,123
<br />16,963,028 18,261,789 - - 16,963,028 18,261,789
<br />417,155 6,979 231,294 39,577 648,449 46,556
<br />- - 819,800 833,463 819,800 833,463
<br />190,332 200,360 610,661 711,136 800,993 911,496
<br />$ 40,809,713 $ 42,145,487 $ 47,204,196 $ 49,892,805 $ 88,013,909 $ 92,038,292
<br />Additional information on the City of Paris' capital assets can be found in note IV C of the Notes to the Financial
<br />Statements.
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