|
Paris Economic Development Corporation
<br />(A Component Unit of the City of Paris, Texas)
<br />Governmental Funds Balance Sheet/Statement of Net Assets
<br />September 30, 2007
<br />ASSETS
<br />Cash and Cash Equivalents
<br />Investments
<br />Accounts Receivable -
<br />Sales Tax
<br />Accrued Interest Receivable
<br />Restricted Assets
<br />Bond Debt Service Fund
<br />Cash and Cash Equivalents
<br />Bond Reserve Fund
<br />Cash and Cash Equivalents
<br />Notes Receivable
<br />Land Development Costs
<br />Total Assets
<br />General Debt Service
<br />Fund Fund
<br />$ 1,551,060 $ -
<br />490,941 -
<br />199,084 -
<br />10,553 -
<br />Governmental
<br />Total Adjustments* Activities
<br />$ 1,551,060 $ - $ 1,551,060
<br />490,941 - 490,941
<br />199,084 - 199,084
<br />10,553 - 10,553
<br />- 32,450 32,450 - 32,450
<br />- 449,957 449,957 - 449,957
<br />2,907,211 - 2,907,211 - 2,907,211
<br />1,261,215 - 1,261,215 - 1,261,215
<br />$ 6,420,064 $ 482,407 $ 6,902,471 $ - $ 6,902,471
<br />LIABILITIES
<br />Liabilities Payable
<br />from Restricted Assets
<br />Current Portion of Bonds Payable $ - $ - $ - $ (190,000) $ 190,000
<br />Accrued Interest Payable - - - (16,124) 16,124
<br />Notes Payable -
<br />Due Within One Year - - - (369,048) 369,048
<br />Notes Payable -
<br />Net of Current Portion - - - (273,691) 273,691
<br />Bonds Payable -
<br />Net of Current Portion - - - (2,760,000) 2,760,000
<br />Total Liabilities - - - (3,608,863) 3,608,863
<br />
<br />FUND BALANCES/NET ASSETS
<br />Fund Balances:
<br />Reserved for
<br />Long-term Notes Receivable 2,593,606 - 2,593,606 2,593,606 -
<br />Reserved for Land Development Costs 1,261,215 - 1,261,215 1,261,215 -
<br />Reserved for Debt Service - 482,407 482,407 482,407 -
<br />Unreserved 2,565,243 - 2,565,243 2,565,243 -
<br />Total Fund Balances 6,420,064 482,407 6,902,471 6,902,471 -
<br />
<br />Total Liabilities and Fund Balances $ 6,420,064 $ 482,407 $ 6,902,471
<br />Net Assets:
<br />Restricted for Debt Service (276,283) 276,283
<br />Unrestricted (3,017,325) 3,017,325
<br />
<br />Total Net Assets $ - $ 3,293,608
<br />*Primarily long-term liabilities not reported in the funds
<br />See accompanying notes to financial statements.
<br />2
<br />
|