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City of Paris, Texas
<br />Notes to Financial Statements
<br />September 30, 2012
<br />IV. Detailed Notes on All Funds and Component Unit (Continued)
<br />A. Deposits and Investments (Continued)
<br />Custodial Credit Risk — Deposits. In the case of deposits, this is the risk that in the event of a bank
<br />failure, the City's deposits may not be returned to it. As of September 30, 2012, the City's bank
<br />balance was not exposed to custodial credit risk. As of the same date PEDC had exposure to
<br />custodial credit risk because $95,000 of the PEDC bank balance of $792,137 was uninsured.
<br />Custodial Credit Risk — Investments. For an investment, this is the risk that in the event of the
<br />failure of the counter-party, the City may not be able to recover the value of its investments or
<br />collateral securities that are in the possession of an outside party. As of September 30, 2012, the
<br />City did not have custodial credit risk exposure.
<br />Foreign Currency Risk is the risk that an investment denominated in the currency of a foreign
<br />country could reduce its United States of America dollar value as a result of changes in foreign
<br />currency exchange rates. At September 30, 2012, the City was not exposed to foreign currency
<br />risk.
<br />B. Receivables
<br />Receivables as of year-end, including the applicable allowances for uncollectible accounts, are as
<br />follows:
<br />Receivables:
<br />Interest
<br />Properiy Taaces
<br />Sales Taxes
<br />Accounts
<br />Notes
<br />Street Assessments
<br />Fines
<br />EMS
<br />Gross Receivables
<br />Less: Allowance for
<br />Uncollectibles
<br />Net Total Receivables
<br />Debt Special
<br />General Service Revenue Enterprise
<br />$ 918 $ -
<br />749,088 124,798
<br />1,026,000 -
<br />119,470 -
<br />26,473 -
<br />104,694 -
<br />2,322,411 -
<br />4,349,054 124,798
<br />$ - $ 868
<br />- 1,834,810
<br />52,216 -
<br />52,216 1,835,678
<br />(2,322,046) (31,199) - (50,000)
<br />$ 2,027,008 $ 93,599 $ 52,216 $ 1,785,678
<br />Net receivable balances not expected to be collected within one year are Property Taxes -
<br />$410,875, Fines - $2,347, EMS - $91,811, and Street Assessments - $26,473.
<br />At year end, PEDC had a receivable for sales tax of $205,000.
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