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<br />
<br />
<br /> 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, 2009
<br />
<br /> General Debt Service Governmental
<br /> Fund Fund Total Adjustments* Activities
<br /> ASSETS
<br /> Cash and Cash Equivalents $ 1,830,598 $ - $ 1,830,598 $ - $ 1,830,598
<br /> Investments 501,762 - 501,762 - 501,762
<br /> Accounts Receivable -
<br /> Sales Tax 202,286 - 202,286 - 202,286
<br /> Accrued Interest Receivable 7,715 - 7,715 - 7,715
<br /> Restricted Assets
<br /> Bond Debt Service Fund
<br /> Cash and Cash Equivalents - 20,333 20,333 - 20,333
<br /> Bond Reserve Fund
<br /> Cash and Cash Equivalents - 468,012 468,012 - 468,012
<br /> Notes Receivable 2,297,282 - 2,297,282 - 2,297,282
<br /> Land Development Costs 1,629,155 - 1,629,155 - 1,629,155
<br /> Total Assets $ 6,468,798 $ 488,345 $ 6,957,143 $ - $ 6,957,143
<br /> LIABILITIES
<br /> Accrued Termination Benefits $ 33,770 $ - $ 33,770 $ - $ 33,770
<br /> Liabilities Payable
<br /> from Restricted Assets
<br /> Current Portion of Bonds Payable - - - $ (215,000) $ 215,000
<br /> Accrued Interest Payable - - - (13,855) 13,855
<br /> Notes Payable -
<br /> Due Within One Year - - - (55,644) 55,644
<br /> Bonds Payable -
<br /> Net of Current Portion - - - (2,345,000) 2,345,000
<br /> Total Liabilities 33,770 - 33,770 (2,629,499) 2,663,269
<br /> FUND BALANCES/NET ASS TS
<br /> Fund Balances:
<br /> Reserved for
<br /> Long-Term Notes Receivable 2,013,175 - 2,013,175 2,013,175 -
<br /> Reserved for Land Development Costs 1,629,155 - 1,629,155 1,629,155 -
<br /> Reserved for Debt Service - 488,345 488,345 488,345 -
<br /> Unreserved 2,792,698 - 2,792,698 2,792,698 -
<br /> Total Fund Balances 6,435,028 488,345 6,923,373 6,923,373 -
<br /> Total Liabilities and Fund Balances $ 6,468,798 $ 488,345 $ 6,957,143
<br />
<br /> Net Assets:
<br /> Restricted for Debt Service (259,490) 259,490
<br /> Unrestricted (4,034,384) 4,034,384
<br /> Total Net Assets $ - $ 4,293,874
<br />
<br />
<br /> *Primarily long-term liabilities of reported in the funds
<br />
<br /> See accompanying notes to financial statements.
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