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CITY OF LITTLE CANADA, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />YEAR ENDED DECEMBER 31, 2017
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<br />(18)
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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 nonmajor 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 />2017 2016
<br />Current and Other Assets 19,409,383$ 17,798,854$ 1,610,529$ 9%
<br />Capital Assets 34,626,759 33,791,912 834,847 2
<br />Total Assets 54,036,142 51,590,766
<br />Deferred Outflows of Resources 155,690 394,917 (239,227) (61)
<br />Long-Term Liabilities 6,991,841 7,623,651 (631,810) (8)
<br />Other Liabilities 1,133,267 1,556,956 (423,689) (27)
<br />Total Liabilities 8,125,108 9,180,607
<br />Deferred Inflows of Resources 155,639 138,479 17,160 12
<br />Net Position:
<br />Net Investment in Capital Assets 29,029,105 27,235,568 1,793,537 7
<br />Restricted 5,247,575 6,817,513 (1,569,938) (23)
<br />Unrestricted 11,634,405 8,613,516 3,020,889 35
<br />Total Net Position 45,911,085$ 42,666,597$ 3,244,488 8
<br />2017 2016
<br />Current and Other Assets 2,202,068$ 2,050,853$ 151,215 7%
<br />Capital Assets 8,484,312 8,600,858 (116,546) (1)
<br />Total Assets 10,686,380 10,651,711
<br />Deferred Outflows of Resources 109,058 199,119 (90,061) (45)
<br />Long-Term Liabilities 80,834 79,746 1,088 1
<br />Other Liabilities 561,395 622,361 (60,966) (10)
<br />Total Liabilities 642,229 702,107
<br />Deferred Inflows of Resources 109,022 69,822 39,200 56
<br />Net Position:
<br />Net Investment in Capital Assets 8,484,312 8,600,858 (116,546) (1)
<br />Unrestricted 1,559,875 1,478,043 81,832 6
<br />Total Net Position 10,044,187$ 10,078,901$ (34,714) (0)
<br />Governmental Activities
<br /> Business-Type Activities
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<br />The City’s net investment in capital assets is $37,513,417 or 67.0% 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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