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<br />
<br />
<br /> During the year, the City made budgeted transfers from the Water and Sewer Fund to the General Fund of $1,166,448 for
<br /> administrative support and fran hise fees, from the General Fund to the Capital Projects Fund of $943,196 to complete
<br /> specific projects, from the Capital Projects Fund to the Equipment Replacement Fund for $1,250,000 to establish this fund,
<br /> and from the Capital Projects Fund to the Water and Sewer Fund of $263,749 for Water and Sewer Projects completed. These
<br /> transfers had a significant influence on the changes in fund balance for these funds.
<br /> Debt Service Fund
<br />
<br /> The debt service fund has a tot 1 fund balance of $712,570 ($741,912 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 $29,342
<br /> ($5,043 increase of the previous ear). The decrease was an immaterial amount (3.95%). The government enacted a dedicated
<br /> property tax for debt service at he beginning of the current fiscal year. This tax produced revenues of $1,308,298 in the
<br /> current fiscal year ($1,314,770 t previous year).
<br /> Proprietary Fund
<br />
<br /> The City of Paris' proprietary fund provides the same type of information found in the government-wide financial statements,
<br /> but in more detail.
<br /> Unrestricted net assets of the Water and Sewer Fund at the end of the year amounted to $7,237,951 ($7,362,285 the previous
<br /> year). This change was due to increased restriction for debt service. Other factors concerning the finances of this fund
<br /> have already been addressed in a discussion of the City of Paris' business-type activities.
<br /> General Fund Budgetary High ights
<br />
<br /> General fund budgeted expendi es were increased by $260,747 in anticipation of expected actual expenditures, however,
<br /> actual expenditures fell within t e original budget amount. The overall amended appropriation of the general fund was under
<br /> spent by $2,859,827 and under s ent the original appropriation by $2,599,080 ($1,391,304 under spent the previous year).
<br /> Capital Asset and Debt Administration
<br />
<br /> Capital Assets
<br />
<br /> The City of Paris' investment ' capital assets for its governmental and business-type activities as of September 30, 2009,
<br /> amounts to $80,998,810 ($84,481,129 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 /> Governmental Activities Business-Type Activities Total
<br /> 2009 2008 2009 2008 2009 2008
<br /> Land $ 5,912,108 $ 5,903,022 $ 282,672 $ 282,672 $ 6,194,780 $ 6,185,694
<br /> Buildings & System 11,504,237 11,873,271 41,669,702 43,335,543 53,173,939 55,208,814
<br /> Improvements Other 2,986,068 2,142,297
<br /> than Buildings 2,986,068 2,142,297 -
<br /> Machinery, Furniture,
<br /> and Equipment 2,265,840 2,708,976 252,474 278,202 2,518,314 2,987,178
<br /> Infrastructure 14,623,257 15,928,612 - - 14,623,257 15,928,612
<br /> Construction in Progress 6,979 524,041 98,246 - 105,225 524,041
<br /> Water Rights-Net - - 792,470 806,137 792,470 806,137
<br /> Unamortized
<br /> Bond Expense 171,779 180,788 432,978 517,568 604,757 698,356
<br /> Total $ 37,470,268 $ 39,261,007 $ 43,528,542 $ 45,220,122 $ 80,998,810 $ 84,481,129
<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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