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CITY OF LITTLE CANADA, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />YEAR ENDED DECEMBER 31, 2015
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<br />Notes to Basic Financial Statements – The notes to basic financial statements provide additional
<br />information that is essential to a full understanding of the data provided in the government-wide and
<br />fund financial statements.
<br />
<br />Other Information – Combining statements and schedules for non-major funds are presented
<br />immediately following the notes to basic financial statements.
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<br />The following is a summary of the City’s net position:
<br />
<br />Annual Percent
<br />Change Change
<br />2015 2014
<br />Current and Other Assets 19,338,661$ 20,070,482$ (731,821)$ (0.04)%
<br />Capital Assets 29,261,898 27,148,363 2,113,535 0.08
<br />Total Assets 48,600,559 47,218,845
<br />Deferred Outflows of Resources 81,255 - 81,255 N/A
<br />Long-Term Liabilities 9,932,272 9,285,198 647,074 0.07
<br />Other Liabilities 1,345,028 1,284,957 60,071 0.05
<br />Total Liabilities 11,277,300 10,570,155
<br />Deferred Inflows of Resources 71,730 - 71,730 N/A
<br />Net Position:
<br />Net Investment in Capital Assets 22,521,602 18,307,783 4,213,819 0.23
<br />Restricted 4,098,590 5,167,835 (1,069,245) (0.21)
<br />Unrestricted 10,712,592 13,173,072 (2,460,480) (0.19)
<br />Total Net Position 37,332,784$ 36,648,690$ 684,094 0.02
<br />2015 2014
<br />Current and Other Assets 2,168,401$ 2,138,296$ 30,105 0.01 %
<br />Capital Assets 8,966,437 9,261,283 (294,846) (0.03)
<br />Total Assets 11,134,838 11,399,579
<br />Deferred Outflows of Resources 54,504 - 54,504 N/A
<br />Long-Term Liabilities 75,298 69,478 5,820 0.08
<br />Other Liabilities 730,899 544,077 186,822 0.34
<br />Total Liabilities 806,197 613,555
<br />Deferred Inflows of Resources 48,117 - 48,117 N/A
<br />Net Position:
<br />Net Investment in Capital Assets 8,966,437 9,261,283 (294,846) (0.03)
<br />Unrestricted 1,368,591 1,524,741 (156,150) (0.10)
<br />Total Net Position 10,335,028$ 10,786,024$ (450,996) (0.04)
<br />Governmental Activities
<br />Business-Type Activities
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<br />The City’s net investment in capital assets is $31,488,039 or 66.1% of the total net position, and reflects
<br />its investment in capital assets (e.g. land, buildings, infrastructure, machinery and equipment, and
<br />vehicles); less any related debt used to acquire those assets that are still outstanding. The City uses
<br />these capital assets to provide services to citizens; consequently, these assets are not available for
<br />future spending. Although the City’s investment in its capital assets is reported net of related debt, it
<br />should be noted that the resources needed to repay this debt must be provided from other sources,
<br />since the capital assets themselves cannot be used to liquidate these liabilities.
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