27 Special Financial reportCITY COUNCIL AGENDA ITEM BRIEFING SHEET
Submittal Date: Originating Presented By: Agenda Item No.:
4-7-2008 Department:
Council Date: Gene Anderson 27
4-14-2008 Finance
RECOMMENDED MOTION:
Move to approve the special financial report as presented.
POLICY ISSUE(S):
Fiscal Mana ement
BACKGROUND:
At the March 10`" meeting the Comprehensive Annual Financial Report (CAFR) was
presented to the City Council. Tom Hensel of McClanahan and Holmes, LLP discussed
how to read and find information in the report. Although some items were discussed in
detail, it has been pointed out that there were no general statements made about the
financial condition of the city. This brief report is intended to make those general
statements about the City's financial condition.
BOARD~COMMISSION RECOMMENDATION:
NA
EXHIBITS: (A) Page 1 of the 2006-07 CAFR Management Discussion and Analysis (B)
City-Wide Revenues vs. Expenditures from 2001 through 2007 (C) Status of the City's
Consolidation Cash account over the last five years.
FISCAL NOTES:
None.
REVIEWED AND APPROVED BY:
® Administration ®City Clerk ^ Community Development ^ EMS/IT ®Finance ^ Fire
^ Municipal Court ^ Legal ^ Libtary ^ Police ^ Eng./Public Works ^ Utilities
ACTION: BUDGET INFO:
® Financial Report ®Minute Order Expense $ NA
^ Department Report ^ Resolution Budgeted Amt. $ NA
^ Presentation ^ Ordinance YTD Actual $ NA
^ Public Hearing ^ Other Acct. Name NA
Acct. Number NA
City of Paris
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Revised 2/04/08
Cash & Investments
As of September 30
9/30/2003 9/30/2004 9/30/2005 9/30/2006 9/30/2007
Consolidated Cash Balance $ 4,504,985.81 $ 7,099,982.15 $ 8,340,591.48 $ 7,074,323.58 $ 6,861,826.33
General Fund $ 5,043,506.09 $ 3,236,079.56 $ 5,395,226.28 $ 7,760,749.99 $ 10,336,535.62
Water & Sewer Fund -$ 2,633,935.86 -$ 2,336,172.04 -$ 1,842,917.94 -$ 28,784.91 $ 138,220.73
WW/SS 2000 Bonds Construction Fund $ 3,503,941.98 $ 1,973,985.20 $ 1,426,204.42 $ 1,488;895.56 $ 1,559,787.30
Library Construction Fund $ - $ - $ - $ - $ -
W&S Construction Fund 1997 Series $ - $ - $ - $ - $ -
Special Revenue Fund $ 157,485.94 $ 193,471.35 $ 509.33 $ 211.17 $ 219.24
Child Safety Fund $ 19,136.22 $ 9,880.86 $ 7,719.23 $ 224.34 $ -
Health Departement -$ 100,927.22 -$ 161,808.37 -$ 152,377.68 -$ 73,210.15 -$ 61,928.43
CJD Grant -$ 198,343.09 -$ 289,540.58 -$ 175,243.99 $ - $ -
Cos 1993 Construction Fund $ - $ - $ - $ - $ -
Tax & Rev 2000 Construction Fund $ ;.2,677,163.19 $ 2,066,361.09 $ 1,160,693.22 $ 161,515.17 $ 83,957.23
COs 2002 Series Construction Fund $ 4,478,748.09 $ 4,428,425.41 $ 2,939,015.02 $ 9,400.62 $ 1,257.81
2003 GO Refunding I&S Fund $ - $ 85,272.20 $ 88,164.16 $ 96,969.32 $ 101,217.21
Employees Insurance Fund -$ 1,639,614.06 -$ 688,379.25 -$ 698,796.56 $ - $ -
Library Memorial Fund $ 26,338.57 $ 30,619.08 $ 45,029.86 $ 55,925.21 $ 61,251.76
J.A. Love Trust Fund $ 39,014.16 $ 39,098.92 $ - $ - $ -
J.P. Poteet Trust Fund $ 1,260.01 $ 1,271.88 $ - $ - $ -
Wilbor-Deshong Trust Fund $ 50,841.86 $ 50,896.78 $ - $ - $ -
Gibbs Memorial Trust Fund $ 4,194.64 $ 4,234.07 $ - $ - $ -
Vaughn Memorial Trust Fund $ 50,528.30 $ 50,533.27 $ 67.21 $ - $ -
Malone Love Memorial Trust Fund $ 27,980.28 $ 28,731.19 $ - $ - $ -
Library Expendable Fund $ - $ - $ 77,377.55 $ 93,140.99 $ 92,891.90
Library Permanent Fund $ - $ - $ 73,372.59 $ 76,552.22 $ 78,040.59
Capital Projects Fund $ - $ - $ 54,490.83 $ 56,852.21 $ 599,573.92
Grant Fund $ - $ - -$ 34,529.16 $ - -$ 78,006.59
Cash & Investments Total $ 11,507,319.10 $ 8,722,960.62 $ 8,364,004.37 $ 9,698,441.74 $ 12,913,018.29
Cash & Inv. without construction funds $ 847,465.84 $ 254,188.92 $ 2,838,091:71 $ 8,038,630.39 $ 11,268,015.95
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City-Wide Revenues vs. Expenditures
2001-2004 2005-2007
2001 2002 2003 2004 Total 2005 2006 2007 Total
Revenues $ 35,371,852 $ 35,980,021 $ 33,406,005 $ 35,517,558 $ 140,275,436 $ 36,529,965 $ 36,762,190 $ 36,641,188 $ 109,933,343
Expenditures $ 38,763,295 $ 35,293,335 $ 34,305,993 $ 36,391,359 $ 144,753,982 $ 34,551,877 $ 33,339,143 $ 33,660,944 $ 101,551,964
Net $ (3,391,443) $ 686,686 $ (899,988) $ (873,801) $ (4,478,546) $ 1,978,088 $ 3,423,047 $ 2,980,244 $ 8,381,379
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