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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF NET POSITION
<br />PROPRIETARY FUNDS
<br />DECEMBER 31, 2015
<br />WITH COMPARATIVE TOTALS FOR DECEMBER 31, 2014
<br />
<br />
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(33)
<br />
<br />Water Sewer 2014
<br />(601)(602/603)Totals Totals
<br />ASSETS AND DEFERRED OUTFLOWS
<br />OF RESOURCES
<br />CURRENT ASSETS
<br />Cash and Cash Equivalents 481,909$ 823,282$ 1,305,191$ 1,285,290$
<br />Receivables:
<br />General Customers 344,752 376,308 721,060 712,947
<br />Other 5,246 6,291 11,537 6,915
<br />Due from Other Governmental Units:
<br />Certified to County 32,764 29,377 62,141 69,977
<br />Other Assets 1,799 66,673 68,472 63,167
<br />Total Current Assets 866,470 1,301,931 2,168,401 2,138,296
<br />CAPITAL ASSETS
<br />Permanent Easements - 103,301 103,301 103,301
<br />Construction 3,965 6,065 10,030 335,565
<br />Equipment 687,366 183,609 870,975 870,975
<br />Mains and Systems 10,766,629 7,660,796 18,427,425 18,000,461
<br />Total 11,457,960 7,953,771 19,411,731 19,310,302
<br />Less: Accumulated Depreciation (6,221,673) (4,223,621) (10,445,294) (10,049,019)
<br />Net Capital Assets 5,236,287 3,730,150 8,966,437 9,261,283
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />Deferred Outflows - Pensions 26,898 27,606 54,504 -
<br />Total Assets and Deferred Outflows of Resources 6,129,655$ 5,059,687$ 11,189,342$ 11,399,579$
<br />LIABILITIES, DEFERRED INFLOWS
<br />OF RESOURCES, AND NET POSITION
<br />CURRENT LIABILITIES
<br />Accounts Payable 132,790$ 186,805$ 319,595$ 507,611$
<br />Accrued Salaries Payable 4,027 4,126 8,153 7,219
<br />Due to Other Governmental Units 6,361 - 6,361 29,247
<br />Compensated Absences Payable 3,992 4,108 8,100 8,281
<br />Unearned Revenue 3,540 - 3,540 -
<br />Total Current Liabilities 150,710 195,039 345,749 552,358
<br />NONCURRENT LIABILITIES
<br />Compensated Absences Payable 33,097 34,101 67,198 61,197
<br />Net Pension Liability 194,072 199,178 393,250 -
<br />Total Noncurrent Liabilities 227,169 233,279 460,448 61,197
<br />Total Liabilities 377,879 428,318 806,197 613,555
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred Inflows - Pensions 23,746 24,371 48,117 -
<br />NET POSITION
<br />Net Investment in Capital Assets 5,236,287 3,730,150 8,966,437 9,261,283
<br />Unrestricted 491,743 876,848 1,368,591 1,524,741
<br />Total Net Position 5,728,030 4,606,998 10,335,028 10,786,024
<br />Total Liabilities, Deferred Inflows of
<br /> Resources, and Net Position 6,129,655$ 5,059,687$ 11,189,342$ 11,399,579$
<br />Business-Type Activities
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