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CITY OF LITTLE CANADA, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />YEAR ENDED DECEMBER 31, 2015
<br />
<br />
<br />
<br />(18)
<br />
<br />Overall revenues increased 1.76% between 2014 and 2015. The City relies to a great extent on
<br />property taxes to finance its governmental activities and this amount remained similar to the prior year.
<br />Charges for services accounted for a majority of the increase as the result of a 2015 reimbursement
<br />from Ramsey County in the amount of $434,858 related to reimbursements for the reconstruction of
<br />Little Canada Road. This increase was partially offset by decrease in investment earnings and a
<br />decrease in the prepaid special assessments paid in 2015.
<br />
<br />Expenses decreased 10.12% between 2014 and 2015. The decrease in general government expenses
<br />was due to lift station and water tower repairs done in 2014. This decrease was partially offset by an
<br />increase in public safety expenses.
<br />
<br />The following is a summary of the City’s change in Business-type net position:
<br />
<br />2015 2014
<br />Annual
<br />Change
<br />Percent
<br />Change
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services $ 2,789,322 $ 2,751,353 37,969$ 1 %
<br />Capital Grants and Contributions - - - 100
<br />General Revenues:
<br />Other 6,187 4,852 1,335 28
<br />Unrestricted Investment Earnings 25,414 40,058 (14,644) (37)
<br />Total Revenues 2,820,923 2,796,263 24,660 1
<br />EXPENSES
<br />Water Operating 1,434,649 1,647,546 (212,897) (13)
<br />Sewer Operating 1,260,916 1,176,551 84,365 7
<br />Total Expenses 2,695,565 2,824,097 (128,532)(5)
<br />CHANGE IN NET POSITION BEFORE
<br /> TRANSFERS AND CONTRIBUTIONS 125,358 (27,834)153,192 (550)
<br />Transfers and Contributions (198,571) 24,720 (223,291) (903)
<br />CHANGE IN NET POSITION (73,213) (3,114)(70,099) (2251)
<br />Net Position - Beginning of Year 10,786,024 10,789,138 (3,114) -
<br />Prior Period Restatement , See Note 19 (377,783) - (377,783)
<br />Net Position - Beginning of Year, Restated 10,408,241 10,789,138 (380,897)
<br />NET POSITION - END OF YEAR 10,335,028$ 10,786,024$ (450,996)$ (4)
<br />Business-Type Activities
<br />
<br />The business-type activities, primarily the City’s utility operations, showed a slight decrease in net
<br />position. Water operating expenses decreased due to a $135,768 refund from St. Paul Regional Water
<br />Service based on a system fee study done in 2011 with the rebate applied from 1/1/2013 going forward.
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