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CITY OF LITTLE CANADA, MINNESOTA
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />DECEMBER 31, 2018
<br />
<br />
<br />
<br />(53)
<br />
<br />NOTE 3 RECEIVABLES
<br />Significant receivable balances not expected to be collected within one year of
<br />December 31, 2018 are as follows:
<br />
<br /> Rice/LC Water/Sewer Canabury
<br />General Road Infrastructure Equipment Squares Nonmajor
<br />Fund Development CIP Replacement Condominiums HIA Funds Total
<br />Property Taxes/Tax Increment
<br /> Receivable 153,512$ -$ 22,153$ -$ 6,716$ 12,920$ 195,301$
<br />Special Assessments Receivable - 34,253 1,488,067 61,254 1,458,471 80,870 3,122,915
<br />Advances to Other Funds 718,024 - - 1,592,981 - - 2,311,005
<br />Total 871,536$ 34,253$ 1,510,220$ 1,654,235$ 1,465,187$ 93,790$ 5,629,221$
<br />
<br />NOTE 4 UNAVAILABLE REVENUE
<br />Governmental funds report deferred inflows of resources in connection with receivables for
<br />revenues that are considered not available to liquidate liabilities for the current period. At the
<br />end of the current fiscal year, the various components of unavailable revenue reported in the
<br />governmental funds were as follows:
<br />
<br />Property Special
<br />Taxes Assessments Other Total
<br />Major Funds:
<br />General Fund 64,525$ -$ 147,949$ 212,474$
<br />Rice/LC Road Development - 34,253 - 34,253
<br />Infrastructure CIP 2,411 1,488,068 - 1,490,479
<br />Canabury Square Condos HIA - 1,458,471 - 1,458,471
<br />Water/Sewer Equipment Replacement - 61,254 - 61,254
<br />Economic Development - - 600,000 600,000
<br />Nonmajor Funds 2,326 80,870 - 83,196
<br />Total 69,262$ 3,122,916$ 747,949$ 3,940,127$
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