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Paris Economic Development Corporation
<br />(A Component Unit of the City of Paris, Texas)
<br />Required Supplementary Information
<br />Budgetary Comparison Schedule -General Fund
<br />For the Year Ended September 30, 2007
<br /> Variance with
<br /> Final Budget
<br /> Budgeted Amounts Actual Positive
<br /> Original Final Amounts (Negative)
<br />Revenues:
<br />Sales Tax $ 1,000,000 $ 1,000,000 $ 1,134,833 $ 134,833
<br />Investment Earnings 214,121 214,121 263,409 49,288
<br />Total Revenues 1,214,121 1,214,121 1,398,242 184,121
<br />Expenditures:
<br />Industrial Support and Incentives 1,345,479 1,345,479 27,208 1,318,271
<br />Office Supplies and Postage 10,000 10,000 9,985 15
<br />Commuications 3,500 3,500 3,283 217
<br />Special Service Fees 25,000 25,000 67,004 (42,004)
<br />Furniture and Fixtures 3,000 3,000 8,501 (5,501)
<br />Travel Expenses 20,000 20,000 27,464 (7,464)
<br />Public Notices 1,000 1,000 502 498
<br />Miscellaneous 1,000 1,000 - 1,000
<br />Contractual Associations 3,000 3,000 4,706 (1,706)
<br />Promotional Advertising 25,000 25,000 32,897 (7,897)
<br />Administration Fee 10,000 10,000 10,000 -
<br />Personnel Compensation 120,133 120,133 73,803 46,330
<br />Sundry Charges 3,750 3,750 6,365 (2,615)
<br />Utilities - - 4,157 (4,157)
<br />Debt Service
<br />Principal 406,322 406,322 406,473 (151)
<br />Interest 39,816 39,816 39,665 151
<br />Total Expenditures 2,017,000 2,017,000 722,013 1,294,987
<br />Excess (Deficit) of Revenues
<br />Over Expenditures
<br />Other Financing Sources/LJses:
<br />Transfer to Debt Service Fund
<br />Net Change in Fund Balances
<br />Fund BalanceslBeginning of the Year
<br />(802,879) (802,879) 676,229 1,479,108
<br />(387,000) (387,000) (364,000) 23,000
<br />(1,189,879) (1,189,879) 312,229 1,502,108
<br />7,007,835 7,007,835 7,007,835 -
<br />Prior Period Adjustment - - (900,000) (900,000)
<br />Fund Balance at Beginning of Year
<br />as Adjusted 7,007,835 7,007,835 6,107,835 (900,000)
<br />Fund Balances/End of the Year $ 5,817,956 $ 5,817,956 $ 6,420,064 $ 602,108
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