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<br /> <br /> <br /> Paris Economic Development Corporation <br /> (A Component Unit of the City of Paris, Texas) <br /> Notes to Required Supplementary Information <br /> September 30, 2009 <br /> Budgetary Data <br /> <br /> PEDC's fiscal year commences October 1st and ends September 30th. A budget for the forthcoming <br /> fiscal year sha 1 be submitted to, and approved by the Board of Directors in June and delivered to the <br /> City of Paris n or before June 30th. After Board approval, the budget on appropriate forms is <br /> submitted tote City Manager for inclusion in the annual budget of the City of Paris. The budget is <br /> to include projected operating expenses and such other budgetary information as shall be useful to or <br /> appropriate for the Board and the City. <br /> The proposed budget shall contain such classifications and shall be in such form as may be <br /> prescribed fro time to time by the Council of the City of Paris. The budget shall not be effective <br /> until it has been approved by the City Council. <br /> The Budgetary Comparison Schedule presented as Required Supplementary Information for the <br /> General Fund is presented to provide a meaningful comparison of actual results with the budget. For <br /> the year ended September 30, 2009, expenditures exceeded budgeted amounts in the General Fund in <br /> Insurance and Bonds, Special Service Fees, All Utilities, Personnel Compensation, Equipment, and <br /> Debt Service rincipal. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 10 <br />