C.A.F.R., FY 2011-12 - Laserfiche WebLink

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March 19, 2013 Mayor A. J. Hashmi and Members of the City Council City of Paris, Texas ;�� A,,,.�,,$ a\ a��`I� �` � � �\r�\ 3\ ��a \....� �� \ : �l��` �"` \ a`�� w�� a��u� '��r�� o��u��O�ru�a� �o��\ �\\\\\��a ea�� a\ u�� u��J.uQ��\Q\� Dear Mayor and Council Members: I am pleased to submit the Comprehensive Annual Financial Report of the City of Paris, Texas, (the City) for the fiscal year ended September 30, 2012. The City of Paris is a fmancial reporting entity as defined by the Government Accounting Standards Board codification section 2100. As such, it has a separately elected governing body chosen by its citizens in a general, popular election, is a legally separate primary government, and is fiscally independent of other state and local governments. The financial reporting entity includes all the funds of the primary government and its component unit, the Paris Economic Development Corporation. More information about PEDC can be found in foomote I.A. which deals with reporting entity topics. There are no other potential component units. The primary purpose of this report is to provide the City Council, citizens, financial community, and others with detailed information concerning the financial condition and performance of the City of Paris. It is strongly recommended that any user of this report read the Management's Discussion and Analysis included in the financial section of the report. In addition, this report provides assurance that the City presents fairly its financial position as verified by independent auditors. THE COMPREHENSNE ANNUAL FINANCIAL REPORT The Comprehensive Annual Financial Report of the City of Paris, Texas, for the fiscal year ended September 30, 2012, which follows, was prepared by the Finance Depariment. The financial statements have been audited by McClanahan and Holmes, LLP, CPAs, whose report is included herein. Thi� :.�:dit satisfies Article III, Section 35 of the City Charter which requires that an annual audit of all accounts of the City be made by an independent certified public accountant. I-1 P.O. BOX 9037 • PARIS, TEXAS 75461-9037 •(9031 785-7511 • FAX (903) 785-8519