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<br /> <br /> <br /> City of Paris, Texas <br /> Notes to Financial Statements <br /> September 30, 2009 <br /> <br /> <br /> IV. Detailed Notes on All Funds and Component Unit (Continued) <br /> <br /> G. Restricted Net Assets and Restricted Asset Accounts (Continued) <br /> <br /> The balances o the City's restricted asset accounts are as follows: <br /> Certificates of Accrued <br /> Deposit and Interest and <br /> Cash and Cash Other Other <br /> Equivalents Investments Receivables <br /> Customer Deposits $ 62,462 $ 679,778 $ 2,009 <br /> Revenue Bond Construction Account 1,622,571 - - <br /> Revenue Bond C ent Debt Service Account 2,627,210 - 33,311 <br /> Revenue Bond Future Debt Service Account 239,254 1,905,612 2,991 <br /> Notes Receivable - - 92,930 <br /> Total Restricted As ets $ 4,551,497 $ 2,585,390 $ 131,241 <br /> <br /> <br /> V. Other Information <br /> <br /> A. Risk Manage ent <br /> <br /> The City is ex osed to various risks of loss related to torts; theft of, damage to, and destruction of <br /> assets; errors and omissions; injuries to employees; and natural disasters. The City purchases <br /> insurance coverage from commercial insurers and participates in risk pools to limit risk of loss in <br /> these areas. he risk pools maintain adequate protection from catastrophic losses to protect their <br /> financial integrity. Aggregate protection is also maintained to ensure that the City shall at no time <br /> be assessed. The City's contributions are limited to the rates calculated under the agreement. <br /> There has been no significant reduction in insurance coverage during the year ended September <br /> 30, 2009. There have been no settlements in excess of insurance coverage in any of the prior three <br /> fiscal years. <br /> B. Related Party <br /> The City Council appoints the governing board of an entity which is legally separate from the <br /> City. The C ty is not able to impose its will on this entity, and a financial benefit/burden <br /> relationship is not present; therefore, it is considered a related organization. <br /> <br /> C. Water Storage ommitments <br /> <br /> A contract wi the United States of America for water storage space in Pat Mayse Lake entitles <br /> the City to utilize one hundred percent of the storage space between elevations 451.0 and 415.0 <br /> feet above sea level. <br /> <br /> <br /> <br /> <br /> <br /> <br /> 46 <br />